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Last Week in Words

September 03, 2010, 8:33 p.m. EDT 1 Min Read

MONDAY
"It is a good thing that he was willing to pound the pavement, that is about the only way you can get capital right now."

— Gray Medlin, head of Carson Medlin, on Royal Asian Bank president Edward Shin's successful effort to raise about $10 million in capital in order to create an independently owned Korean-American bank. TUESDAY
"Any kind of merger creates disruption in the market … customers sometimes will look around and say, 'Am I happy where I am?' "

— James Smith, CEO of Webster Financial, considering how First Niagara's proposed acquisition of NewAlliance might affect banking customers in New England, especially in Connecticut, where NewAlliance is based. WEDNESDAY
"At best, we're going to be in for a long slog. At worst, [the data is] forecasting another material dip down. My guess is that there is another round of chargeoffs."

— David Dietze, chief investment strategist with Point View Financial Services, on how credit losses could stay high longer this cycle. THURSDAY
"How can you say it wasn't a loss to the government? … It was a significant loss of revenue to the Treasury."

— Bill Thomas, vice chairman of the Financial Crisis Inquiry Commission, skeptical that Wells Fargo's bid for Wachovia wasn't made possible, in part, by a sudden change in the tax code by the IRS to let banks carry forward losses from the purchase of troubled financial institutions. FRIDAY
"This deal has exceeded our expectations."

— Daryl Bible, BB&T's CFO, about the earnings boost and other results of the bank's acquisition of Colonial Bank last year.
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