Big deal this morning, with the larger MTB buying HCBK. Many, including me, expect small and even regional banks to disappear as they face compliance issues with Dodd Frank. HCBK was already in some trouble and had cut its dividend. I expect some of the other mergers may involve solid performers.
I think turnarounds could be a big story, probably after the market settles down in a month or two. I have mentioned ELY. Recall they brought in a successful-in-the-industry CEO from outside. He has made some decisions already regarding focus and fixed the capital structure very accretively. I like this one a lot!
Comments