From the Experts

Where Have You Gone George “De Novo” Bailey?

Posted June 16, 2017 by Michael M. Moran in From the Experts.

Where have you gone George “De Novo” Bailey? Or, maybe more appropriately with regard to the Michigan community banking space, when (if ever) does the next Bill Broucek-like banker emerge on the scene? I’ve commented in past months about both the challenges (operational,regulatory and competitive) facing community bankers and the dearth of traditional de novo activity coming out of the Great Recession. Recent discussions with long-time NBD banker and correspondent banking legend, Don Jeffrey, underscored what is common knowledge to every community banker in Michigan: their ranks have dwindled over the years, and some of the historical “back-filling” that used to occur via access to both talent and capital investment is now rapidly facing a nearly 10-year drought. Succinctly, a picture is worth a thousand words:

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Big Brother Actually is Watching

Posted June 7, 2017 by Stephen D. Heckard in From the Experts.

Big brother is watching…and it isn’t a bad thing. In fact, it is a very good thing, one that has the potential to strengthen the entire financial services industry.

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There has to be a Better Way

Posted May 24, 2017 by Michael M. Moran in From the Experts.

The Dodd-Frank Act became public law in the 111th Congress nearly seven years ago. Its objective, as the country moved through the Financial Crisis and the devastating effects of the Great Recession, was primarily four-fold:

-Promote the financial stability of the United States by improving accountability and transparency in the financial system

-End “Too Big to Fail”

-Protect the American taxpayer by ending bailouts

-Protect consumers from abusive financial services practices

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The Cost of Saying Good-Bye

Posted May 16, 2017 by Stephen D. Heckard in From the Experts.

Two years ago, I was asked to review data processing contracts for a small bank to determine departure costs as part of a potential acquisition. We have a very active Investment Banking Division that provides assistance to banks looking to acquire and banks looking to be acquired. In either case from time-to-time, I am asked to provide estimates for terminating processing contracts and deconversion charges. I would like to share with you two recent examples regarding terminating processing contracts.

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Contracts - It’s All About the Fine Print!

Posted April 26, 2017 by Stephen D. Heckard in From the Experts.

I have a recurring nightmare that I will come back in my next life to practice contract law. I do not have a law degree, so hopefully that will minimize the chances. However, reviewing contracts is a significant part of my everyday duties, whether managing a core vendor evaluation or renewing a contract with an existing vendor. Since ProBank Austin has a very active Investment Banking Division, from time-to-time, I review client contracts or a target institution’s contracts to determine departure costs if acquired. My assignment is to specifically review a departure from existing processing agreements.

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