'Banks Have to Bust Through the Wall': Week's Best Quotes
October 29, 2013 11:07 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 complaints that Mississippi's BancorpSouth (BXS) is failing to aggressively cut costs and improve operating leverage:
"If you're looking for some magic pixie dust that is going to fix it all quickly, I don't think that is the way it works."
Dan Rollins, chief executive, BancorpSouth
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On the view that bankers should focus on customers instead of regulation:
"Banks have to bust through the wall if we're truly going to grow this economy."
Jeff Plagge, chairman of the American Bankers Association and CEO of Northwest Financial in Arnolds Park, Iowa
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On how employees at Columbia Banking System of Washington deal with customers irritated by increasing paperwork:
"We're not whining about the consequences of regulation but we are educating customers about them,"
Melanie Dressel, CEO of Columbia Banking System (COLB) in Tacoma, Wash.
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On liabilities JPMorgan (JPM) acquired along with Bear Stern and Washington Mutual:
"Contingent liabilities can end up being a hydrogen bomb."
Jeff Davis, a managing director at Mercer Capital
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On House Democrats' pushing to reform Fannie Mae and Freddie Mac after a Republican-backed bill stalled:
"Democrats are taking advantage of the situation because there's no unanimity on the Republican side, which gives Democrats a chance to flex their muscles."
Brandon Barford, a vice president at ACG Analytics
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On Zions Bancorp's (ZION) plans to expand its mortgage business:
"It is a great time to [be in mortgages] because there are a lot of marginal players leaving."
Harris Simmons, CEO of Zions Bancorp
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(Image: Bloomberg News)
On how Pacific Northwest merger partners Heritage Financial (HFWA) and Washington Banking (WBCO) fit together:
Washington Banking "attacks from the north, we attack from the south. We have Seattle covered and surrounded."
Brian Vance, CEO of Heritage
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On the view that two merger announcements in the Pacific Northwest over the past week indicate consolidation is gaining momentum:
"What everyone has been calling for is finally here."
Jacquelynne Chimera, an analyst at Keefe, Bruyette & Woods
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On how banks and microlenders can team up to help small-business owners who don't qualify for bank loans:
"We need to open ourselves up to new ways of saying 'yes.' Just because we can't help them doesn't mean they can't be helped."
Todd Hollander, an executive vice president in the business banking group at Union Bank in San Francisco
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On why banks should consider using analytics software to make loan decisions:
"You don't want decisions based on a bad day. The computer doesn't get bored."
Patrick Reily, chief executive officer of Verde International in Atlanta
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