A table on March 6 with a back-page article, "Rough Track Ahead for Conversion Engineers?" used different criteria than a widely cited ranking of thrift conversion specialists, and therefore reached some different conclusions.
The table was based on data that Sandler O'Neill & Partners - the leading firm - had prepared for its own use. Those data excluded transactions smaller than $5 million, included mutual holding company transactions, and credited only lead managers.
An SNL Securities survey agrees that Sandler O'Neill and Adams Cohen, whose staff it absorbed last year, led the industry in deal value. However, SNL ranks Community Capital/Ryan Beck second, with 11 deals totaling $538 million, and Baird/Mark Corp. third (three deals, $484 million). Merrill Lynch and Salomon Brothers tie for fourth in SNL's tabulation, with one $298 million deal each, and Capital Resources ranks next (13 deals, $291 million).