Archive for December, 2014

2014 Recap

It’s hard to believe a year has gone by since our last “Prediction Recap.” Last time we nailed our predictions going a strong 4 for 4:

This year we laid out three new predictions:
https://heresthedealaj.com/2014/01/08/2014-predictions/ and it’s safe to say we went 3 for 3, with our third prediction showing signs of life, but not quite the signs we thought overall.

• Our first prediction for 2014 saw heavy representation. We felt that banks in our core Mid-Atlantic and Northeast markets would begin to color in their market maps a bit and boy did they ever. Banks like Howard Bank in Maryland strengthened their reach into areas like Cecil and Harford County with purchases of branches and banks like NBRS. WSFS from Delaware grew in MD and had some organic growth in Harford/Cecil Counties, making some key hires. County First Bank in MD opened up an LPO in Virginia. Additionally, Carroll Community Bank will be making its push into Greater Washington. Over in John’s market in PA we saw First Choice, First Bank, and Cape Bank expanding into PA. Investors Bank also took a piece of South Jersey through acquisition.

• We said M&A activity would increase. Winner-Winner-Chicken Dinner here folks! In MD, DC, VA and PA alone…BB&T buys Susquehanna, FNB buys OBA, Eagle buys Virginia Heritage Bank, National Penn acquired Third Federal, Bryn Mawr acquired Continental and Univest picked up Valley Green. Additionally, late in the year First Savings of Perkasie and First Federal of Bucks County got together. We are also still waiting to see Victory and Huntingdon Valley follow through. In New England we saw no less than 8 acquisitions too. For example Independent Bank Corp (Rockland Trust) is expected to complete its acquisition of Peoples Federal Savings Bank shortly, and North Shore Bank and Sausqusbank, two of the smaller banks in the state say they are in the process of merging.

• Finally, we claimed tech lending would see a surge. American Banker had an October 27th article on Square 1 and others seeing the pick-up. Additionally, we had some clients grow their tech teams and even add new tech lending departments. In the Mid-Atlantic this has been quieter than expected, but in New England and New York it has boomed a bit. Wells entered the tech team fray in that market in 2014 with bankers like Debra DelVecchio and David Dickinson. City National deepened its reach there too as Bill Sweeney and Jim Demoy continue to build their teams. Citibank hired some folks in both markets. In addition, two of the market’s regional banks have been utilizing our firm to start new departments there.

Next month’s blog entry will be our predictions for 2015. Stay tuned!

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