Jean-Luc Servat, the director of Alex. Brown's new West Coast financial institutions office, is bullish on the potential for mergers among midsize banks in the region.

"Four or five years ago we all concluded the middle market had been merged out of existence, but in the last four years, there has been a complete replenishment of that account base," said Mr. Servat, the former head of Merrill Lynch's San Francisco investment banking offices.

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