Sterling Bancorp in New York is determined to turn Astoria Financial's largely residential operation into a commercial powerhouse. While investors are skeptical, CEO Jack Kopnisky has proven in the past that such an ambitious plan is doable.
The new owner of this Miami bank might be from Chile, but it sure knew how to create warm feelings with the employees it acquired. Instead of cutting back on benefits, it added some new ones — including a cash bonus paid for life events like having a child.
The CEO of Keefe, Bruyette & Woods, a top matchmaker for bank mergers, explains why large banks will soon return to dealmaking after a long absence, the case for starting new banks and the enduring value of branches.
Even as units of a larger holding company, local banks fight the perception that they can’t provide sophisticated services like corporate or private banking. Executives say that unifying the brand will help Synovus better compete against larger players.
Some advisers are urging acquirers to strike while they have strong currencies, while others are warning about the risk of overpaying. Sellers, meanwhile, must be wary of a correction after months of surging prices.