The Week's Best Quotes: Subprime Farmers, Hunting for Debtors, Multifamily Bubble
February 12, 2013 8:00 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.(Image: Fotolia)
On why banks often use the U.S Department of Agriculture's insurance program when lending to farmers:
"I'm not saying they're deadbeats, but I'm also saying they're not prime bank customers."Banks Push for More Government-Backed Farm Loans (Image: Shutterstock )
- John Blanchfield, senior vice president at the American Bankers Association
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On the challenge of tracking down debtors:
"It's like hunting an animal in the woods."Why Debt Collectors Should Not 'Friend' Debtors on Facebook (Image: Shutterstock )
- Ron Brown, chief executive of investigation and asset-recovery firm CSI Group
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On the risk that the Dodd-Frank Act could exacerbate the damage during times of financial stress:
"Enhancing the scope for intervention and enhancing the tools just spreads the poison that boxes us in, in a crisis."Fed's Lacker: How to Stop Bailouts for Good (Image: Bloomberg News)
- Jeff Lacker, president of the Federal Reserve Bank of Richmond
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On Fannie and Freddie's growing presence in multifamily lending:
"The government pie has brought a lot of investors to the market."Love of Multifamily Lending Lingers, But for How Long? (Image: Shutterstock )
- Jamie Woodwell, vice president of commercial real estate research at the Mortgage Bankers Association
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On the claim that customers prefer hometown banks:
"Money is money. People don't care anymore where a bank is headquartered."Wintrust Sees Room to Go Big in Chicago (Image: Shutterstock )
- Mitchell Feiger, chief executive of MB Financial
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On why many small banks are reluctant to sell:
"If you're a healthy bank, why would you merge now? The premiums aren't there."WinTrust Sees Room to Go Big in Chicago (Image: Shutterstock )
- Todd Grayson, executive vice president of South Central Bank in Chicago
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On the high cost of cancelling pending M&A deals:
"You spend a lot of time and effort, so if it [a deal] doesn't close, you've lost all of it."M&A Cancellations Slow, But Still a Risk for Banks (Image: Shutterstock )
- Jeff Gerrish, a partner at Gerrish McCreary Smith
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On how pressure on acquirers' to boost earnings could trigger more M&A:
"The new reality is that bank stocks are [worth more than] 60% to 70% of tangible book when buyers such as Renasant have an improved currency and need earning assets at reasonable yields."Pricey Deal in Mississippi Reflects Pressure on Buyers to Grow (Image: Shutterstock )
- Chris Marinac, analyst with FIG Partners
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On pending state legislation to ban retailers from levying surcharges on credit card transactions:
"I believe that card issuers are unfairly gouging merchants and retailers, and hopefully this legislation can slow that practice."Seven States Eye Ban on Credit Card Surcharges (Image: Bloomberg News)
- West Virginia State Senator Truman Chafin
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On the combination student ID-debit cards that some universities have introduced:
"Schools are getting into bed with these financial institutions with these cards and some are doing it in order to be compensated by the bank."CFPB Scrutiny of Bank-College Partnerships Deepens (Image: Shutterstock )
- John Hirabayashi, president and chief executive of Community First Credit Union of Florida
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On how Dodd-Frank and the Jumpstart Our Business Startups, or JOBS, Act have helped small banks but overlooked thrifts:
"The level playing field is tilted way against the S&Ls. This was allowed to go through without anyone screaming foul."Small Thrifts Getting Short Shrift from D.C. (Image: Shutterstock )
- Doug Faucette, a lawyer with Locke Lord
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On the Treasury's decision to cancel its auction of Coastal Banking Co.'s Tarp shares after the bank's finances improved:
"They tell me this is kind of unusual. The Treasury said there have been a few of these auction agreements they've had to break because of subsequent bad news, buy they can't remember one they've had to break because of good news."Tarp Auction of Coastal Banking in S.C. Cancelled as Bank's Finances Improve (Image: Shutterstock )
- Coastal Banking Co. chief financial officer Paul Garrigues
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On his decision to join a community bank after working for the likes of Citigroup, Ally and Freddie Mac:
"I'd like to think my career isn't always focused on putting out fires."Sun's Celini Trades In His Train Pass, Firefighter Hat
- Al Celini, chief risk officer of Sun Bancorp in Vineland, N.J.
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Arguing that banks have done a bad job of showing the value of checking accounts:
"Do you know of any other business that gives that away for free?"Service Charges Starting to Rebound at Community Banks (Image: Shutterstock )
- Citizens National Bank President and Chief Executive Brad Tidwell
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