Magazine : Archives : 4th Quarter 2017

How Regulation Is Squeezing Bank Stock Valuations

If there’s a private equity fund that would be inclined to invest in banks, one would think it would be Falfurrias Capital Partners. Two of its founders were long-time executives at Bank of America Corp. One of them, former Chairman and Chief Executive Officer Hugh McColl, is a legend in the industry. It was under his watch that Bank of America’s in-house attorney drafted the Southeastern Regional Banking Compact, an agreement between 10 southern states to allow banks from participating states to acquire each other. It proved to be one of the earliest and most significant salvos in the march...