Independent Banker - June 2018 - 42
" [Community banks]
are more aware of the
communities we are
based in and are usually
really defined by those
communities. I see
customers displaced
now all the time. "
target culture to make sure it's a good fit with the
acquirer's culture. "
Needless to say, even with regulatory relief,
Dunham admits that many community banks-
particularly smaller and mid-sized ones-will
need to look at their merger options to create
better efficiencies across the board. " Their
margins are definitely being squeezed, " he says,
" and there's only a couple of ways to fix that: by
cutting expenses or finding partners. "
In his 52-plus years in banking on Long
Island, Manditch has seen the community bank
market shrink from roughly 60 independent
banks in 1965 to seven today. Of those, only
two are larger community banks (a few billion
dollars in assets) that have been around for 90
years or more.
-Douglas C. Manditch,
Empire National Bank
" It really doesn't matter whether you're a thrift
or a commercial bank, " Manditch says. " The
legacy of the financial industry is disappearing.
All of us want to survive and stay independent,
but it's becoming more difficult every year
because of compliance requirements and [low]
interest rates, which are finally starting to rise.
" It will be helpful, I think, a couple of years
down the road when things are fully repriced, "
he adds. " But right now, it's a drag. "
conditions, and feel the need to at least ponder
a partnership.
Louis J. Dunham, senior vice president
and senior director for risk management
consulting at Ardmore Banking Advisors,
Inc., argues that not all mergers are created
equal. He says in many cases, they can serve
a useful purpose in expanding a community
bank's footprint, its product line and its
employee expertise in a way that truly will
serve its market.
" I see a lot of banks looking at mergers
to diversify their product lines and their
geography, and give them a broader talent
pool, " Dunham says. " But it has to start with
looking at what they have already created, "
as well as what the bank management and
shareholders may want to accomplish in the
future. He adds that banks " must evaluate the
40 Q ICBA Independent Banker Q June 2018
Karen Epper Hoffman is a writer in Washington state.
Considering M&A?
Attend ICBA's Community Bank Mergers
& Acquisitions seminar on June 11 and
12 at The Saint Paul Hotel in St. Paul,
Minn., to learn expert tips from leaders
at consulting firm Gerrish Smith Tuck
Consultants and Attorneys PC. Topics
will include: strategic considerations
for buying and selling, valuation and
contract negotiation, common mistakes
of buyers and sellers, and more. Learn
more and register at bit.ly/MAseminar
http://www.bit.ly/MAseminar
Independent Banker - June 2018
Table of Contents for the Digital Edition of Independent Banker - June 2018
Table of Contents
Independent Banker - June 2018 - Intro
Independent Banker - June 2018 - Cover1
Independent Banker - June 2018 - Cover2
Independent Banker - June 2018 - Table of Contents
Independent Banker - June 2018 - 2
Independent Banker - June 2018 - 3
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Independent Banker - June 2018 - Cover3
Independent Banker - June 2018 - Cover4
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