BRENTWOOD, TENN., November 28, 2012 –Bank Director magazine today released results of its 2013 Bank Director & Crowe Horwath LLP M&A survey, sponsored by Crowe Horwath LLP. The survey was completed by 224 CEOs, senior officers and directors of U.S. banks. The results reveal that more banks are interested in acquisitions this year, but concerns over pricing and asset quality will act as significant barriers. Key findings from the research include:
“I think people aren’t as interested in selling as the pundits would say,” says Rick Childs, director at Crowe Horwath LLP. “Yes, regulation is depressing, and banking is not as fun [as it used to be]. But I think these people are still committed to independence, not wanting to have your hometown bank owned by somebody else. There’s still a lot of pride in that. The other key driver, obviously, is price.”
Survey results are available on BankDirector.com. A thorough analysis of the survey will appear in the 1st quarter 2013 issue of Bank Director, available January 23, 2012. Rick Childs of Crowe Horwath LLP will speak at Bank Director’s 19th annual Acquired or Be Acquired conference, which takes place on January 27-29, 2013 at The Phoenician in Scottsdale, Arizona. The event will focus on acquisition strategies and financial growth options available to banks. The agenda is available online at BankDirector.com.
ABOUT BANK DIRECTOR
Since 1991, Bank Director has served as a leading information resource for the directors and officers of financial institutions. Throughout the year, Bank Director asks officers and directors of financial institutions to share their thoughts on board-specific issues like compensation, managing risk, growth, board liability and strategic planning. Bank Director’s research and analysis provides a bank's board members with unparalleled insight and information. In addition to research, Bank Director reaches the leaders of the institutions that comprise America’s $11 trillion banking industry through its quarterly magazine, annual conferences, and its website, BankDirector.com. Bank Director is published by DirectorCorps, and headquartered in Brentwood, Tennessee.
ABOUT CROWE HORWATH LLP
Crowe Horwath LLP (www.crowehorwath.com) is one of the largest public accounting and consulting firms in the United States. Under its core purpose of “Building Value with Values ®,” Crowe uses its deep industry expertise to provide audit services to public and private entities, while also helping clients reach their goals with tax, advisory, risk and performance services. With offices coast to coast and 2,600 personnel, Crowe is recognized by many organizations as one of the country's best places to work. Crowe serves clients worldwide as an independent member of Crowe Horwath International, one of the largest global accounting networks in the world, consisting of more than 150 independent accounting and advisory services firms in more than 100 countries around the world.
Contact: Emily McCormick, (615) 777-8471, firstname.lastname@example.org
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