'If You Want a Seat at the Table, You Can't Burn It': The Week's Best Quotes

September 3, 2013 5:46 PM

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.

(Image: Thinkstock)

On how well-capitalized banks can have their pick of acquisition targets:

"If you have 20% capital, then you are in a pie-eating contest."

Lee Burrows, chief executive of Banks Street Partners

(Image: Thinkstock)

Joseph Stilwell, activist investor, on his dogged pursuit of change at community banks:

"Once we start with a company we never stop. I guess it's a reflection of my stubbornness."

On why some housing industry groups are taking a moderate approach, rather than opposing, mortgage-finance reform:

"If you want to have a seat at the table, you can't burn the table."

Mark Calabria, director of financial regulation studies at the Cato Institute

(Image: Thinkstock)

On why consolidation among tech vendors could raise costs for community banks:

"Core processors will know what the other ones are charging, so there will be elevated set pricing."

Mark Nelson, chief information officer at Horicon Bank

On why Prosperity Bancshares (PB) plans to take a break from M&A after agreeing last week to buy F&M Bancorp in Tulsa:

"We've done 30-something transactions and they've all been good, but you do one bad one and that could ruin everything."

David Zalman, chairman and chief executive of Prosperity

HSBC whistle-blower Everett Stern on moving from the bank to a job waiting tables at PF Chang's:

"I went from working at a Chinese bank to working at a Chinese restaurant."

Everett Stern, HSBC whistle-blower

On why the changing tenor of M&A negotiations suggests the pace of deals may pick up:

"We had three years where buyers were losing on things, so the prices they are willing to pay are creeping up. Sellers, their expectations have continued to come down."

Adam Fiedor, a principal at St. Charles Capital

(Image: Thinkstock)

On how a New York crackdown has caused many banks to sever ties with online lenders affiliated with Native American tribes:

"The erosion of those relationships is taking place now, and it's real. This is not a hypothetical situation."

David Bernick, a lawyer who is representing the tribes in their dispute with the state

(Image: Bloomberg News)

On cyberattacks that shut down <em>The New York Times</em>' website last week and could threaten banks:

"In terms of the sophistication of the attack, this is a big deal. It's sort of like breaking into the local savings and loan versus breaking into Fort Knox."

Marc Frons, chief information officer for the New York Times Co.

(Image: Bloomberg News)

On regulators' investigations into whether mortgage servicers overcharged homeowners for foreclosure-related services:

"The servicers will be held accountable for not having audited or not managing the expenses better. These enforcement actions are just getting started."

Tim Rood, a partner at the Collingwood Group

(Image: Thinkstock)

On why home sales jumped early this summer along with interest rates:

"People thought they'd be left in the wake and they panicked."

Mark Hanson, a mortgage consultant in Berkeley, Calif.

(Image: Thinkstock)