'We're Operating in a Fairly Strange Environment': Week's Best Quotes
March 26, 2014 7:30 AM
The most notable quotes from American Banker stories of the previous week. Readers are encouraged to add their own observations in the Comments fields at the bottom of each slide.
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On Four Oaks Bank's claim that it was forced to keep working with a payments processor:
"I've never heard of a bank being the victim of extortion. Usually, the bank is the source of the extortion."
U.S. District Judge Terrence Boyle
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Image: Thinkstock
PNC Financial Services Group (PNC) Bill Demchak on the outlook for litigation against banks:
"We continue to operate in a fairly strange environment as it relates to people coming after banks."
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On Provident Community Bancshares' decision to take Troubled Asset Relief Program funds:
"We didn't want it, but our primary regulator told us we better take it. We thought we could pay it back, but the downturn was longer and deeper than we thought."
Dwight Neese, CEO of Provident
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On the dangers banks face from making a unsuccessful acquisitions:
"An acquisition is the riskiest thing a company can do to its shareholders. It is hard to recover from a bad acquisition."
Philip Flynn, CEO of Associated Banc-Corp (ASBC)
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On Colonial Virginia Bank's decision to sell to Xenith Bankshares (XBXS):
"It was the best path for us
.We had a hard time painting a picture where remaining independent was the right decision."
Robert Bailey, CEO of Colonial Virginia
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On what banks can learn from Amazon.com:
"Amazon's not calling you to say, 'Do you want something?' They're using the data to understand what people want."
Rilla Delorier, who oversees SunTrust's (STI) consumer banking strategy
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On how RBS Citizens is preparing to separate from its parent company, Royal Bank of Scotland:
"Our financial performance still needs to improve
[but] Rome isn't built in a day."
Bruce Van Saun, CEO of RBS Citizens
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Image: Bloomberg News
On how banks can take advantage of customer complaints aired on social media:
"Any time there is a problem, it is a chance to go above and beyond. After that, customer loyalty is usually higher."
Christopher Liechty, vice president of marketing at People's Utah Bancorp
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