Consolidation in banking, financial services industry likely to continue along ...
22.05.12
Experts predict consolidation of the coastal banking market, but the forms it takes may be somewhat unexpected.
The cost and headache of tighter banking provisions, as well as gloomy global economics, promise to play a role, said Dan Bailey, chief executive of the Alabama Bankers Association.
"The effect of Dodd-Frank (Wall Street Reform and Consumer Protection Act) is going to be fairly significant, and you may see that as a motivation to be a larger community bank," Bailey said. "It's also been speculated among our regionals that you will see some continued consolidation."
Expected foreign capital, meanwhile, is unlikely to materialize any time soon as foreign banks deal with their own issues, Bailey said. "I think in general over the next several years we will see continued consolidation," he said. "Not at a rapid pace, but at a measured, prudent pace."
Consolidation, a trend nationally since the 1970s, accelerated with several legislative events in the
Source: Press-Register - al.com (blog)