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Board Issues : Strategy

How a Texas CEO Made a Difficult Sale Work for His Shareholders, His Bank and Himself

February 18th, 2013 |
How do you raise money from investors at $10 per share and then turn around a year and a half later and ask them to approve a sale of your bank at $7 per share? That's exactly what Kevin Hanigan did. The scrappy CEO of a $508-million asset bank in Texas made himself the CEO of a $3.2-billion asset bank by selling his bank to a larger institution, and persuading his shareholders that taking less is more, at least in the long haul. It seemed to wo...

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nsnyder

Naomi Snyder is the managing editor for Bank Director, an information resource for directors and officers of financial companies. You can follow her on Twitter at twitter.com/naomisnyder or get connected on LinkedIn.

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