Available on Demand
Duration: 60 Minutes
The burgeoning list of bank failures presents an opportunity for banks and other investors able to acquire assets and deposits, often with the benefit of FDIC loss-sharing agreements. More recently, the FDIC has started to add conditions to the deals it facilitates that potentially give the agency a piece of the upside, a move that could alter the dynamics of future transactions.
In 2009, FDIC-assisted transactions were a marker of success for companies on the buying end shares of banks that completed such deals outperformed the industry as a whole. Meanwhile, a growing list of failures has led regulators to more readily accept private equity investors into the field of bidders and new policies could open the door even wider in 2010.
As these deals accelerate and evolve, its critical to keep track not just of the policies that direct them, but the opportunities and challenges such deals will present.
Interact with American Banker and industry experts as they discuss and field your questions on topics such as:
- Best practices to employ when seeking to become a potential bidder
- New wrinkles in profit-sharing clauses assessing the implications for future deals
- Due diligence and the accelerated timeframe of an FDIC-assisted deal
- Potential pitfalls and how bidders and buyers can avoid them
- Joe Adler, Reporter, American Banker
- Thomas P. Vartanian, Partner and Chair of the Financial Institutions Transactions Group, Fried Frank
Thomas is a nationally recognized financial services counselor, litigator, dealmaker and regulatory attorney. He is a respected writer, lecturer and radio and television commentator on financial services. He also leads the Firm's Financial Services Task Force, which was formed to consolidate the Firm's resources to address the enormous changes being forged by the current global financial crises.
- Rick Bennett, Partner, PriceWaterhouseCoopers Banking and Capital Markets Practice
Rick has extensive experience with mergers and acquisitions, purchase accounting, and due diligence and is one of the leaders of PricewaterhouseCoopers Failed Bank Integration team. In this capacity, Rick has spent considerable time on FDIC related acquisitions focusing on the development of new processes to support SOP 03-3 accounting including loan valuation, accounting operations, and implementing and evaluating processes to support FDIC loss share agreements.