5 Trends from Acquire or Be Acquired 2019

WASHINGTON, DC — To get a sense of what trended at Bank Director’s 25th annual Acquire or Be Acquired conference, here’s a link to five video check-ins.  All 2 minutes or less in length, these summarize various topics and trends shared with 1,300+ attendees.

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SAVE THE DATE:

Acquire or Be Acquired Conference
January 26-28, 2020 | Arizona Biltmore Resort | Phoenix, AZ

For early-bird registration, please click here.

Daily Briefing: Sunday at Acquire or Be Acquired

PHOENIX — When Bank Director first introduced our Acquire or Be Acquired Conference 25 years ago, some 15,000 banks operated in the United States. While that number has shrunk considerably — there are 5,120 banks today — the inverse holds true for the importance of this annual event. What follows are two short videos from our first day in the desert that surface a few key ideas shared with our 1,300+ attendees.

Three Interesting Stats:

  1. Of the 5,120 banks in the U.S., 4,631 are under $1Bn in asset size and 489 are over that amount.
  2. Two years ago, we talked about the sweet spot of banking being banks between $5B and $10B in asset size; now, its those with assets of $50B+.
  3. Digital channels drive 35% of primary banking relationship moves, while branches drive only 26%.

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  • Whether you are able to join us in person or are simply interested in following the conference conversations via our social channels, I invite you to follow @AlDominick @BankDirector and @Fin_X_Tech on Twitter. Search & follow #AOBA19 to see what is being shared with and by our attendees.
  • Everything You Need to Know About 2019’s Acquire or Be Acquired Conference

    WASHINGTON, DC — So, there’s this guy named Warren Buffet who has a few thoughts on business. This Nebraska-based investor once opined “I’d rather pay a fair price for a wonderful company than a wonderful price for a fair company.”  Quite sagacious — and appropriate to share in advance of our 25th annual Acquire or Be Acquired Conference which takes place January 27-29 at the JW Marriott Phoenix Desert Ridge in Arizona.

    Since we last hit the desert, several regional banks have been active in the M&A market — and may continue to look for merger opportunities to build up scale. In addition, we’ve seen how tax reform had a big impact on the industry, with many making investments to grow their business.

    Now, with the government shutdown straining our economy, big banks beating community banks on the digital front and shifting team & cultural dynamics, we have a lot of ground to cover over two-and-a-half days. Interested to see what we have planned? Take a look at the full agenda.

    While I am excited to reconnect with quite a few folks, I am particularly interested in a number of strategic issues that will be discussed. For instance:

    1. Since the stock market doesn’t always reward longer-term thinking, what does a bank’s CEO needs to focus on, especially with many stocks being valued as if a recession is imminent;
    2. How can regional and local banks boost their deposits given the biggest banks 2018 deposit gather successes;
    3. How laggards to the digital movement can catch up with their peers? (One suggestion: take a look at Finxact, a “Tesla-like” financial technology company that offers an innovative, open-core banking platform. I believe it will quickly become a legitimate challenger to FIS, Jack Henry and Fiserv);
    4. The M&A outlook for 2019;
    5. How institutions can gain/acquire/rent the skills needed to vet and negotiate with potential FinTech partners;
    6. When we might see IPOs — realizing the SEC has to re-open before this occurs; and
    7. How many new bank applications will be approved by the FDIC, realizing that 14 were last year.

    For those joining us in Arizona, I encourage men to bring a sports coat or a jacket for the evenings as we plan to be outside for our receptions and the desert quickly cools off once the sun sets. In addition, the rumors of people being in their seats at 7:15 – 7:30 on Sunday morning? 100% true. We start at 7:45 AM and there are quite a few pictures from last January’s event if you need visual proof.

    Finally, the digital materials for the conference can be found on BankDirector.com. Once you register on-site, you’ll be given a passcode to access the materials that can be used throughout the event.

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    Whether you are able to join us in person or are simply interested in following the conference conversations via our social channels, I invite you to follow @AlDominick @BankDirector and @Fin_X_Tech on Twitter. Search & follow #AOBA19 to see what is being shared with and by our attendees. If you are going to be with us in Arizona and we’re not already connected here on LinkedIn, drop me a note and let’s fix that.

    On the Horizon for Bank CEOs, Their Leadership Teams and Boards

    WASHINGTON, DC — Can community banks out-compete JP Morgan, BofA and Wells Fargo?  This is the elephant in the room awaiting 853 bank executives and board members — representing 432 Banks — at our upcoming Acquire or Be Acquired Conference.  The lights don’t officially come up on our 25th annual event at the JW Marriott Phoenix Desert Ridge until Sunday, January 27.  So in advance, three big questions I anticipate fielding in the desert.

    Does 2019 Become the Year of BigTech?

    As noted by H2 Ventures and KPMG, Amazon is providing payment services and loans to merchants on its platform, while Facebook recently secured an electronic money licence in Ireland.  Alibaba, Baidu and Tencent have become dominant operators in China’s $5.5 trillion payments industry.  Add in Fiserv’s recent $22B acquisition of First Data and Plaid’s of Quovo and we might be seeing the start of a consolidation trend in the financial technology sector.  Will such investments and tie-ups draw the attention of big technology companies to the financial services industry?

    Has the window to sell your bank already closed?

    When I heard the rumor that BBVA might be buying UK-based Atom Bank — one of the proverbial European challenger banks — I started to look at acquisition trends here in the U.S.  Case-in-point, we put together the following graphic in December for BankDirector.com

    ma-infographic-final_1

    We know that some community banks have been holding out hopes of higher pricing multiples or for a strategic partner.  These institutions might find the window of opportunity to stage an exit isn’t as open as it was just a few years ago. This doesn’t mean the window has shut — but I do think an honest assessment of what’s realistic, at the board level, is appropriate.

    Wither the bond market?

    A NY Times op-ed piece  posits that the bond market reveals growing cracks in the financial system.  Authored by Sheila Bair, the former chairwoman of the FDIC, and Gaurav Vasisht, director of financial regulation at the Volcker Alliance, it warns that “regulators are not doing enough to make sure that banks are prepared.”  While the duo calls for thicker capital cushions for big banks and tighter leveraged loan underwriting standards, I wonder how executives joining us in Arizona feel about this potential threat to our economy?
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    As the premier bank M&A event for bank CEOs, senior management and board members, Bank Director’s 25th annual Acquire or Be Acquired Conference brings together key bank leaders from across the country to explore merger & acquisition strategies and financial growth opportunities. If you’re joining us in the desert, I’ll share a few FYIs later this week. If you’re unable to join us in Phoenix, AZ, I’ll be tweeting from @aldominick and using #AOBA19 when sharing on social platforms like LinkedIn.

    An Optimist’s Dilemma

    WASHINGTON, DC — At this time two years ago, optimism swept across the banking sector.  The change in administration gave us a steepened yield curve.  Investors predicted improved economic growth.  Many anticipated regulatory relief and the prospect of major corporate tax cuts.

    The future of banking looked promising.

    Now, pragmatism has worn that luster. Many have concerns about the growing divide between the biggest banks and everyone else. Throughout 2018, moderate loan and dull deposit growth proved persistent themes for banks.

    The future appears far more challenging.

    As the year winds down, I find the cyclical nature of banking of particular interest. While an optimist by nature, I fear we’re entering a harder operating environment.

    • We’re getting closer to a turn in the credit cycle.
    • We saw investors bail on bank stocks in October.
    • We see big banks closing rural and suburban branches—opting for digital services instead.

    Against this backdrop, I take some comfort in a new book by Dorris Kearns Goodwin, “Leadership in Turbulent Times.”  Goodwin provides anecdotes about controlling negative emotions, like President Abraham Lincoln’s “hot letters”—his own missives of his frustrations he then put aside, hoping he’d never have to send what he’d written.

    Leadership in Turbulent Times

    So in that spirit, consider this my “Lincoln letter” to a bank’s CEO and board, albeit with an optimist’s take.

    Please pay attention to the vast amounts being spent on digital advertising.
    The Interactive Advertising Bureau (IAB) and PwC estimate U.S. digital ad spending will hit $100 billion by year-end. This number might shock those thinking about where and how they want to tell their bank’s story through videos, social media and other digital means. Nonetheless, considering what’s being spent to court the attention of your “loyal” constituents might spark new ideas for where to invest time and effort.

    When thinking tech, intertwine conversations about talent.
    With venture capitalists still pouring money into startups offering basic banking services, potential employees have even more options to spend their energy and creativity. For any bank, the demand for the talent needed to deliver new digital capabilities will significantly outpace the available labor pool. If you don’t have a team now, I worry your bank might be challenged to successfully create meaningful technology partnerships.

    Culture is eating strategy (and new initiatives) for breakfast, lunch and dinner.
    Many executives have talked with me about how they’re working hard to ensure the bank’s existing culture keeps pace with the evolution of the industry. We all deal with execution risk—but as that old saying goes, if all you ever do is all you’ve ever done, then all you’ll ever get is all you’ve ever gotten.

    Windows of opportunity most certainly exist.  What those windows are, and how long they remain open, remains a moving target — one we intend to focus on next month at our 25th annual Acquire or Be Acquired Conference, Jan. 27-29 at the JW Marriott Phoenix Desert Ridge in Phoenix, Arizona.

    *This first ran in Bank Director’s weekly newsletter, The Slant, on December 8.

    An Early Look at the 2019 Acquire or Be Acquired Conference

    Quickly:

    • Bank Director’s 2019 Acquire or Be Acquired Conference takes place next January 27 – 29 at the JW Marriott Phoenix Desert Ridge in Phoenix, AZ.  To register, click here.

    WASHINGTON, DC — As the last few hours of July tick by, our team continues to build towards next winter(!) and the premier bank M&A event for CEOs, senior management and board members: Bank Director’s annual Acquire or Be Acquired Conference. This special event brings together key bank leaders from across the country to explore merger & acquisition strategies, consolidation trends and financial growth opportunities.

    Earlier this year, we welcomed 1,200+ to the Arizona desert — and anticipate a similar audience when we return a week before next year’s Super Bowl. We’ve recently added a lot of new information on January’s program to BankDirector.com; if you’re interested to see what we’re planning, I invite you to take a look.

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    In addition to Acquire or Be Acquired, I am really excited to host two conferences before we return to the desert.  On September 10-11 at the Four Seasons Hotel Chicago, we host our very popular Bank Board Training Forum.  This two-day program provides bank directors with the education and training needed to address the issues and challenges facing them in today’s ever competitive, highly regulated and rapidly evolving banking and financial services industry.

    From November 5 – 7, at the Four Seasons Resort & Club Dallas at Las Colinas (a short hop from DFW airport), we convene Bank Director’s annual Bank Compensation & Talent Conference to focus on the recruitment, development and compensation of a bank’s most essential talent.  While in Dallas, leading advisers share their perspectives on building and supporting the best teams by providing first-hand information on the strategies and plans being used by successful banks today.

    If you’re interested in any of these three exceptional programs, you can learn more here.

    The Intersection of Ideas and Opportunities

    Quickly:

    • In a few days, the lights come up on the annual FinXTech Summit, a program that explores ways for banks to delight customers, generate top-line growth and enhance bottom-line profits through partnerships and investments in technology companies.

    PHOENIX — When I last stepped foot in Arizona, it was to host Bank Director’s annual Acquire or Be Acquired Conference.  The January event attracts a hugely influential audience focused on mergers, acquisitions and growth strategies & tactics.  While there, we noticed quite a few presentations explored how and where financial institutions might invest in, or better integrate, digital opportunities.  So, as a complement to Acquire or Be Acquired, I’m back in the desert to dive deeper into myriad ideas for banks to improve profitability and efficiency with the help of technology firms.

    As we prepare to host our FinXTech Annual Summit at the Phoenician, take note: smart banks are investing and/or partnering with technology companies because they realize it’s cheaper and faster than building something themselves.  Further, the largest banks in the U.S. are rapidly evolving with advances in artificial intelligence across chatbots, robo-advisors, claims, underwriting, IoT and soon blockchain — all of which add another layer of potential to further shake-up traditional business models.  In fact, there was a palatable sense among bankers at AOBA about the evolution in financial technology.

    Nonetheless, many banks, especially those between $500M and $30Bn in assets, are on the outside looking in — and this is where FinXTech’s Summit story begins.

    From exploring data to leveraging cognitive computing to gaining efficiencies in backroom processes, this year’s event surfaces a number of potent ideas.  For instance, we shine a light on how bank leadership can truly unleash the potential of a technology partner.  Further, we pull current quotes and issues like these to discuss and debate:

    One thing I love about customers is that they are divinely discontent. Their expectations are never static — they go up. It’s human nature. We didn’t ascend from our hunter-gatherer days by being satisfied. People have a voracious appetite for a better way, and yesterday’s ‘wow’ quickly becomes today’s ‘ordinary’
    Jeff Bezos, Founder and Chief Executive Officer

    Likewise, we share our takes on key acquisitions — like JP Morgan’s acquisition of WePay — while identifying how institutions leverage newer technologies to improve efficiency ratios and in some cases, boost franchise valuations.

    In a sense, FinXTech’s Summit serves as our “in-person” bridge between banks and qualified technology companies.  For those joining us, we’ll touch on various products and services for security, data & analytics, infrastructure, lending, mobile banking, payments and regtech while convening an exceptionally senior audience of 200+.  Throughout the event, I’ll share my thoughts via Twitter, where I’m @AlDominick and using #FinXTech18.  Finally, I’ll author a daily update on this site with my observations from the conference.

    The Best of Bank Director’s 2018 Acquire Or Be Acquired Conference?

    Quickly:

    PHOENIX, AZ — Well, that was fun!  Bank Director’s Acquire or Be Acquired Conference wrapped up on Tuesday evening, and with the benefit of a day to reflect on a jammed-packed experience, a few personal highlights from our time at the Arizona Biltmore.

    Favorite tweets

    Favorite picture

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    I am SO proud to work with such a great team that truly embodies our #1 core cultural value of helping to make other’s successful.

    Three timely (and paraphrased) comments

    When it comes to identifying banks to buy… core deposits are more important than loans — David Zalman, Chairman & CEO, Prosperity Bancshares Inc.

    Earnings accretion is answer 1,2,3,4 and 5 out of five possible answers to the question “what is most important in bank M&A” — Robert G. Sarver, Chairman & CEO, Western Alliance Bancorporation

    If you sell your bank for cash, you’re truly selling your bank.  If you sell your bank for stock, you’re really investing in another’s future — Bill Hickey, Principal, Co-Head, Investment Banking, Sandler O’Neill + Partners, L.P.

    Best comment (unintentional comedy)

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    On Monday, during the Prioritizing Risk & Reward session that she moderated, our President, Mika Moser, brought the house down.  John Allison, the Chairman of Home BancShares just shared that he’d made a whole lot of millionaires at his bank when Mika deadpanned, “you gotta any available teller positions?”  Great stuff Mika!

    Is this really a case to partner with FinTechs?

    I’ve seen estimates that some 90% of FinTech startups will fail — for a variety of reasons (e.g. no one wants the product, cash shortage, etc).  So, when I do the math and consider that we have some 5,000 FinTechs looking to make it big, only 10% have a realistic chance. Out of these 500 or so companies, only the ones capable of consolidating and expanding across niches will acquire a significant enough footing in the market to ensure resilience and sustainable long-term growth. Banks, start your engines…

    Video Recaps

    In case you missed it, we shared a number of videos on BankDirector.com this week.  The page with all videos can be found here: The Pulse of Acquire or Be Acquired. To get a sense of what these short videos look like, here is an example from Sunday.

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    If you missed the daily recaps shared on LinkedIn, Twitter and BD.com, here is a thumbnail with all the videos created. To playback the conference conversations via our social channels, I invite you to take search #AOBA18 to see what was shared by our attendees.

    Do You Know These 3 Cs of Banking?

    Quickly:

    • When it comes to talk about bank mergers and acquisitions, It has been written that the questions rarely change — but the conversations prove irresistible.

    By Al Dominick, CEO of DirectorCorps — parent co. to Bank Director & FinXTech.

    PHOENIX, AZ — If you’re with us here at the Arizona Biltmore for Bank Director’s annual Acquire or Be Acquired Conference, you’ve heard that banks with low‐cost core deposits continue to attract interest from acquirers.  So as banks wrestle with increased funding costs, that observation sparked an idea about what constitutes the “three Cs” of banking today:

    1. Compliance
    2. Cost Control
    3. Consolidation

    For instance, having good on-going relations with one’s regulators is hugely important. In fact, I heard several prominent attorneys share that regulatory risk remains the greatest obstacle to completing an M&A deal.  So having the bank in position to act quickly and confidently when an opportunity arises is a major advantage in today’s competitive M&A environment.  I take this to mean no enforcement actions, satisfactory CRA, good HCR results, etc.

    As was discussed yesterday afternoon, when an acquirer can present a credible narrative that a potential deal is consistent with a well-considered strategy — and that the company has the infrastructure appropriate to the new organization, you find a well received merger.

    In terms of consolidation, we saw a number of presentations note the 261 bank M&A deals, worth an aggregate $26.38 billion, announced in 2017.  As a point of reference, 241 deals were announced — worth an aggregate $26.79 billion — in 2016.  According to S&P Global Market Intelligence, the median deal value-to-tangible common equity ratio climbed significantly in 2017 to 160.6%, compared to 130.6% for 2016.  Last December alone, 32 deals worth a combined $1.84 billion were announced and the median deal value-to-tangible common equity ratio was 156.5%.

    Throughout the fourth quarter, there were 74 bank deals announced in the US, which was the most active quarter since 83 deals were announced in the fourth quarter of 2015. However, last quarter’s $4.4 billion aggregate deal value was the lowest since the third quarter of 2015, which totaled $3.43 billion.

    These are by no means the only Cs in banking.  Credit, core technology providers, (tax) cuts… all, huge issues.  So along these lines, I made note of a few more issues for buyers, for sellers — and for those wishing to remain independent.  Take a look:

    If you are interested in following the final day of the conference via our social channels, I invite you to follow me on Twitter via @AlDominick, the host company, @BankDirector, or search #AOBA18 to see what is being shared with (and by) our nearly 1,200 attendees.

    5 Trending Topics at the Acquire or Be Acquired Conference

    Quickly:

    • Large buyers are not in the bank M&A game right now; indeed, banks $25Bn and below continue to drive M&A activity. Case-in-point, 95% of total M&A deals since 2011 have buyer assets less than $25Bn. Might this change in 2018?

    By Al Dominick, CEO of DirectorCorps — parent co. to Bank Director & FinXTech.

    PHOENIX, AZ — Michael Porter, the noted economist, researcher and teacher, once said, “strategy is about making choices, trade-offs; it’s about deliberately choosing to be different. The essence of strategy is choosing what not to do. No one can tell you which rules to break, but you can acquire more skill in determining which rules to break given your talents and circumstances right now.”

    Porter’s perspectives came back to me while listening to KBW’s CEO, Tom Michaud. Yesterday morning, Tom talked about the strategic paths that a bank’s CEO might consider in the years to come. As he shared, pressure from investors to deploy capital stimulated M&A discussions in 2017 — and will continue to impact deals in 2018. He also noted that pressure placed on deposit costs, as interest rates rise, contributes to the potential acceleration of bank consolidation. These were just two of the many notes I jotted down during the first day of our annual event. Broadly speaking, what I heard fell into five categories:

    1. Economic trends
    2. Regulatory trends
    3. Small business lending trends
    4. Management succession trends
    5. Technological innovation trends

    Many banks enter 2018 with steady, albeit slow loan growth — while recognizing modest margin improvement as they continue to focus on controlling expenses. Accordingly, I thought to elaborate on the issues I found interesting and/or compelling. Feel free to comment below if other points caught your eye or ear.

    Economic Trends

    FJ Capital authored a piece in late October that noted how, as the Fed progresses further into the tightening phase of the interest rate cycle, banks will find it more difficult to fund loan growth by raising new low‐cost deposits. Their view, which I heard echoed here, is banks with low‐cost core deposits will become more valuable over the next few years as banks wrestle with increased funding costs. In addition to this idea, I made note that banks with a strong deposit base could be more attractive to buyers as interest rates rise. However, a remark I’ve heard at past events re-emerged here. Namely, making a small bank profitable is hard; exiting, even harder.

    Regulatory Trends

    Given the audience here, I wasn’t surprised by the continued talk of removing the synthetic $10Bn designation. If the Fed, FDIC and OCC raise the $50Bn threshold as spelled out in Dodd Frank, we could see more banks in the $20Bn – $40Bn range come together. Given that large regional banks usually can pay high prices for smaller targets, unleashing this capacity could reignite more M&A and boost community bank valuations. In addition, the Community Reinvestment Act remains a major headwind in bank mergers. Many here want improvements in the CRA process, which in turn could reduce regulatory risk for bank M&A.

    Small business lending

    When it comes to the lifeblood of most banks — small business lending — a recurring question has been where and how community banks can take market share from larger banks. My two cents: closing loans faster is key, as is structuring loans to fit specific borrower profiles while being supremely responsive to the customer. Oh, and credit is a big theme right now — and the best clients typically have the best credit.

    Management succession

    An inescapable comment / observation: aging management teams and board members has been a primary driver of bank consolidation of late. I noted that the average age of a public bank CEO and Chairman is 60 and 66, respectively. It was suggested that this demographic alone plays a key factor in the next few year’s consolidation activity.

    Technological trends

    When it comes to bank mergers, one of the big drivers of deals is the rise in technology-driven competition (*along with regulatory costs and executive-succession concerns). I sense that most traditional banks haven’t really figured out the digital migration process we’ve embraced as a world. Finally, it appears that the biggest banks are winning the war for retail deposits.  This is an issue that many management teams and boards should be discussing…

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    For those of you interested in following the conference conversations via our social channels, I invite you to follow me on Twitter via @AlDominick, the host company, @BankDirector and our @Fin_X_Tech platform, and search & follow #AOBA18 to see what is being shared with (and by) our attendees.

    10 Questions I Plan To Ask During Acquire Or Be Acquired

    Quickly:

    • Despite improving economic conditions, the business of banking remains difficult.

    By Al Dominick, CEO of DirectorCorps — parent co. to Bank Director & FinXTech.

    PHOENIX, AZ — For all the talk of bank consolidation, there are still 5,700+ banks in the United States.  But let’s not kid ourselves.  For many community banks today, earnings pressures + regulatory and compliance costs + the continued impact of technology = a recurring challenge.

    While the number of banks in business will inevitably shrink over the next 10 years — perhaps being cut in half — I remain bullish on the overall future of this industry. If December’s tax reform spurs capital spending and job creation by small- and medium-sized businesses, many of the banks joining us here in Arizona stand to benefit. But will the recent tax cut induce companies to invest more than they already planned to? This is but one of a number of questions I look forward to asking on stage through the first day of Bank Director’s Acquire or Be Acquired Conference.

    Below, ten more questions I anticipate asking:

    1. Are FinTechs the industry’s new de novos?
    2. What does it mean that the banking world is deposit rich yet asset poor?
    3. Why are certain credit unions thinking about about buying banks?
    4. In terms of technology spending levels, where are dollars being earmarked and/or spent?
    5. With respect to small business lending, do credit unions or FinTechs pose a more immediate challenge to community banks?
    6. What is an appropriate efficiency ratio for a bank today?
    7. Will big M&A buyers get back in the game this year?
    8. What are some of the critical items in due diligence that are under appreciated?
    9. What does an activist investor look for in a bank?
    10. Is voice recognition the next huge source of growth for banks?

    We have an exciting — and full day — coming up at the Arizona Biltmore. To keep track of the conversations via Twitter, I invite you to follow @AlDominick @BankDirector and @Fin_X_Tech.  In addition, to see all that is shared with (and by) our attendees, we’re using the conference hashtag #AOBA18.

    21 Reasons I Am Excited About Acquire or Be Acquired

    Quickly:

    • Making banking digital, personalized and in compliance with regulatory expectations remains an ongoing challenge for the financial industry. This is just one reason why a successful merger — or acquisition — involves more than just finding the right cultural match and negotiating a good deal.

    By Al Dominick, CEO of DirectorCorps — parent co. to Bank Director & FinXTech.

    PHOENIX, AZ — As the sun comes up on the Arizona Biltmore, I have a huge smile on my face. Indeed, our team is READY to host the premier financial growth event for bank CEOs, senior management and members of the board: Bank Director’s 24th annual Acquire or Be Acquired Conference. This exclusive event brings together key leaders from across the financial industry to explore merger & acquisition strategies, financial growth opportunities and emerging areas of potential collaboration.

    AOBA Demographics

    The festivities begin later today with a welcoming reception on the Biltmore’s main lawn for all 1,125 of our registered attendees.  But before my team starts to welcome people, let me share what I am looking forward to over the next 72 hours:

    1. Saying hello to as many of the 241 bank CEOs from banks HQ’d in 45 states as I can;
    2. Greeting 669 members of a bank’s board;
    3. Hosting 127 executives with C-level titles (e.g. CFO, CMO and CTO);
    4. Entertaining predictions related to pricing and consolidation trends;
    5. Hearing how a bank’s CEO & board establishes their pricing discipline;
    6. Confirming that banks with strong tangible book value multiples are dominating M&A;
    7. Listening to the approaches one might take to acquire a privately-held/closely-held institution;
    8. Learning how boards debate the size they need to be in the next five years;
    9. Engaging in conversations about aligning current talent with future growth aspirations;
    10. Juxtaposing economic expectations against the possibilities for de novos and IPOs in 2018;
    11. Getting smarter on the current operating environment for banks — and what it might become;
    12. Popping into Show ’n Tells that showcase models for cooperation between banks and FinTechs;
    13. Predicting the intersection of banking and technology with executives from companies like Salesforce, nCino and PrecisionLender;
    14. Noting the emerging opportunities available to banks vis-a-vis payments, data and analytics;
    15. Moderating this year’s Seidman Panel, one comprised of bank CEOs from Fifth Third, Cross River Bank and Southern Missouri Bancorp;
    16. Identifying due diligence pitfalls — and how to avoid them;
    17. Testing the assumption that buyers will continue to capitalize on the strength of their shares to meet seller pricing expectations to seal stock-driven deals;
    18. Showing how and where banks can invest in cloud-based software;
    19. Encouraging conversations about partnerships, collaboration and enablement;
    20. Addressing three primary risks facing banks — cyber, credit and market; and
    21. Welcoming so many exceptional speakers to the stage, starting with Tom Michaud, President & CEO of Keefe, Bruyette & Woods, Inc., a Stifel Company, tomorrow morning.

    For those of you interested in following the conference conversations via our social channels, I invite you to follow me on Twitter via @AlDominick, the host company, @BankDirector and our @Fin_X_Tech platform, and search & follow #AOBA18 to see what is being shared with (and by) our attendees.