Shows
On the Balance Sheet®"They Don't Sit Still" with Nathan Stovall of S&P GlobalIn this episode, the guys are joined by Nathan Stovall, the Director of Financial Institutions Research for S&P Global. Nathan shares his observations on deposit trends, how banks are the "thermometers" of local economies, his outlook for M&A activity, and why it is so important for banks to "not sit still" in an ever-changing banking landscape. For more insights and ideas, visit DCG at DarlingConsulting.com or follow us on LinkedIn.2025-03-2843 min
The Community Bank PodcastThe State of the Banking Industry with Nathan Stovall & Chris NicholsToday we feature our final backstage episode from the Elevate Banking Forum. Chris Nichols (Director of Capital Markets at SouthState) and Nathan Stovall (Director of Financial Institutions Research at S&P Global Market Intelligence) discuss the current state of the banking industry. Download the Presentation Slide Deck Here The views, information, or opinions expressed during this show are solely those of the participants involved and do not necessarily represent those of SouthState Bank and its employees SouthState Bank, N.A. - Member FDIC2024-11-041h 05
CritRPG - A Podcast about LitRPG, Progression Fantasy, and their authors#71 - Writing Yu-Gi-Oh for adults with John Stovall!Hey hey, everyone!This week on the CritRPG podcast we have part two of a matched set! JOHN Stovall, author of Demon Card Enforcer, joins me to talk about system-based writing versus character-based writing, and of course, being mentored by his wife, Shami! -----------------------------------------We have our own website now! It has all the info you need, a merch store, and more!https://critrpgpodcast.com/If you want to listen to the entire podcast without ads, PLUS...2024-11-041h 00
Street TalkEp. 125 - Tales from Top Perfomers: Five Star Bancorp CEOTales from Top Performers is a new series under the Street Talk banner that will feature conversations with executives at high-performing banks about their bank and experience in the sector; their view of current issues, and the greatest challenges and opportunities they see ahead. The inaugural episode features a discussion between James Beckwith, CEO of Rancho Cordova, Calif-based Five Star Bancorp, a previous winner of S&P's Global Market Intelligence's annual bank rankings, and S&P co-hosts Nathan Stovall, director of financial institutions research, and Jimmy Pittenger, who oversees the firm's US financial institutions commercial team. In the episode...2024-03-1917 minThe Community Bank PodcastThe State of the Banking Industry with Nathan StovallToday we're joined by Nathan Stovall, Director of Financial Institutions Research at S&P Global. We discuss deposit trends, the outlook for commercial credit, and outlook for interest rates. GET YOUR FREE STEP-UP EBOOK HERE The views, information, or opinions expressed during this show are solely those of the participants involved and do not necessarily represent those of SouthState Bank and its employees SouthState Bank, N.A. - Member FDIC2024-03-1829 min
IR in FocusCapital Markets OutlookIn this episode, host Carmen Lilly is joined by fellow podcast host, of Street Talk, Nathan Stovall. Carmen and Nathan's discussion dives into a brief recap of the year, including major events within the banking sector and the implications for investors, they unpack capital markets forecasts for 2024 - with insights on whether economic conditions will stabilize and broader valuation expectations.2023-11-2830 min
Forward GuidanceJohn Toohig & Nate Stovall: Bank Loan Market Is “Very Frozen”John Toohig, managing director and head of whole loan trading at Raymond Jaymes, and Nathan Stovall, director of the financial institutions research team for S&P Global Market Intelligence, join Jack Farley on Forward Guidance to update listeners on the state of the U.S. banking industry. Surging deposit costs, steadily rising defaults, and a freeze on loan liquidity are just some of the topics discussed in this conversation. Filmed the afternoon of October 18, 2023.--MetaMask Portfolio is your one-stop shop for all things web3. Instead of connecting to multiple exchanges, dapps, and tools, you...2023-10-191h 11
The Decisive Podcast: Insights and analysis to empower confident decision-making.A consumer carol: Outlook for US holiday spendingOur forecast for US holiday sales is looking "delightfully average," according to Michael Zdinak, director, US economics, S&P Global Market Intelligence. Consumer spending has shown resilience to tightening financial conditions, thanks to a strong labor market and rising wages. Banks, meanwhile, are eyeing deposit levels and delinquencies as interest rates have crept higher and inflation persists. Delinquencies are rising — but from historically low rates, said Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence and host of the Street Talk podcast. Listen to Michael and Nathan talk about how the outlook for US holiday spending is l...2023-10-1423 minThe Community Bank PodcastNathan Stovall from S&P Global on The State of Community BankingThis week we're sitting down with Nathan Stovall, Director of Financial Institutions Research at S&P Global. Nathan talks about the outlook for M&A, new de novo activity, and keys to remaining an independent community bank in today's environment. GET YOUR FREE COST OF FUNDING ANALYSIS HERE VIEW AGENDA AND REGISTER FOR BMC 2023 HERE The views, information, or opinions expressed during this show are solely those of the participants involved and do not necessarily represent those of SouthState Bank and its employees. SouthState Bank, N.A. - Member FDIC2023-03-2730 min
Street TalkEp. 106 - Banks may want to shrink rather than pay up for loan growthAs deposit competition intensifies, banks should consider slowing or even stopping growing to mitigate credit risk and threats to their net interest margins, according to South State Bank Director of Capital Markets Chris Nichols. The episode features a discussion on the pitfalls of competing for deposits just with rates and why banks should rethink their growth goals at this point in the interest rate and credit cycle between Nichols and S&P Global Market Intelligence co-hosts Nathan Stovall, director of financial institutions research, and Maureen McKenna, who oversees the firm's commercial bank solutions and community bankers conference. Visit this...2023-02-1621 min
Street TalkEp. 75 - As ESG gains currency, banks need long-term focusBanks should not fall victim to focusing on short-term results and should instead work to deliver long-term shareholder value, particularly in a world increasingly focused on ESG, according to a veteran of the investment community. In the episode, Fred Cannon, the former director of research and head of equity strategy at KBW, who will soon join the FASB, shares his views on bank stocks, how bankers should talk to investors and the threat from fintech. 2021-03-1822 min
Street TalkEp. 74 - Seeing legs in strong credit performance, US bank stock rallyBank stocks have surged in recent months as the outlook for credit quality and the broader economy has improved but community bank valuations might have even further room to run, according to GenOpp Capital Management CIO Joe Fenech. In the episode, Fenech discusses his outlook for bank credit quality and why he expects performance to continue to exceed previous expectations. He also highlighted other tailwinds for bank stocks, including the beginning of a M&A wave, which he expects to kick off this year. 2021-02-1726 min
Street TalkEp. 73 - Banks could see more regulation but playing field leveled with nonbanksBanks will face greater regulatory scrutiny under the Biden administration but could also see the playing field leveled some with their nonbank counterparts. In the episode, Isaac Boltansky, director of policy research at Compass Point Research & Trading, discusses financial regulation under the Biden administration, what the new, key agency heads – Treasury, CFPB and OCC – will focus on in their early days on the job and how the positive change in banks' standing in Washington D.C. could allow them to lobby for regulation of nonbanks, fintechs and possibly even big tech's encroachment into finance. 2021-01-2627 min
Street TalkEp. 72 - KBW CEO says desire to compete with megabanks driving more US regional bank M&AThe current environment is highlighting the value of scale and should encourage more bank M&A activity, including larger transactions, according to KBW CEO Tom Michaud. In the episode, Michaud, whose firm just advised TCF on its $6 billion merger with Huntington, said that more institutions are looking to gain scale to invest in digital channels, become more efficient and close branches and effectively compete with the megabanks. The executive also discussed what has driven banks stock recently and argued that valuations will be higher a year from now. 2020-12-1426 min
Street TalkEp. 71 - Hotel sector faces tough sledding until full COVID-19 solutionBanks' credit quality remained quite strong through the third quarter but industries more exposed to the COVID-19 pandemic, like the hospitality sector, have caused a headache for many institutions and performance is unlikely to rebound soon. The episode features third-quarter earnings commentary from banks like F.N.B. Corp and Synovus as well as the outlook for the lodging sector, including when it is expected to recover from the COVID-19 led downturn, provided by members of the S&P Global Ratings team.2020-11-1015 min
Street TalkEp. 70 - Banks' liquidity conundrum could fuel M&A activityAs deposits have flooded into the system and loan growth has been hard to come by, many banks find themselves drenched with excess liquidity. The dynamic has put considerable pressure on net interest margins but might not prove short-term in nature like many banks hope, according to Greg Hertrich, head of U.S. depository strategies at Nomura Securities. In the episode, Hertrich said those earnings pressures could remain in place for many banks, prompting them to consolidate branches — particularly in light of increased digital adoption — and pursue M&A activity.2020-10-1928 min
Street TalkEp. 69 - Banks left with pockets full of cash and few places to goDeposits have flooded into the banking system, leaving institutions sodden with excess liquidity and few attractive options to put the cash to work. In the episode, Scott Hildenbrand, head of balance sheet analysis and strategy in the financial services group at Piper Sandler, discussed the unprecedented inflow of deposits and how to measure whether the funds are short term in nature. He also talked about how banks should approach investing in the current low rate environment and what opportunities to consider.2020-09-2931 min
Street TalkEp. 68 – As many investors zig away from bank stocks, 2 vets in the space zag toward themWhile many investors have soured on bank stocks, Johnny Guerry, former managing partner and portfolio manager at Clover Partners, and Brad Rinschler, former director of institutional equities at Boenning & Scattergood, are launching a new fund to capitalize on the group's underperformance. In the episode, Guerry and Rinschler talk about the strategy for the new fund – Down Range Capital Management – and the investment opportunity they see as superior to the one that was available at the bottom of the Great Recession. They also discussed what they think the market is missing, why they have comfort over bank balance sheets and the...2020-09-0936 min
Street TalkEp. 67 - Veteran investor taps Mick Mulvaney to help with latest financial stock-focused fundWhile a number of financial-focused funds have faced considerable pressure this year, some investors see opportunity amid the volatility. Andrew Wessel, former portfolio manager at Sterling Capital Management, is in that camp and is launching a new long/short financial sector focused fund called Exegis Capital. His partner in the fund, Mick Mulvaney, has a well-known career in Washington D.C., having served as acting white house chief of staff, director of OMB and acting director of the CFPB. In the episode, Wessel and Mulvaney talk about their plans to pair investment experience with the inner-workings of DC to...2020-08-2426 min
Street TalkEp. 66 - Community banks tap the debt markets while the getting is goodCommunity banks have tapped that debt markets at torrid place in recent months, building capital levels for insurance and flexibility to take advantage of opportunities that could arise amid economic fallout from COVID-19, according to two members of Performance Trust Capital Partners. In the episode, Daryle DiLascia, partner and head of investment banking at Performance Trust, and Brian Leibfried, co-head of client insights and analytics at the firm, discuss what has driven the surge in subordinated debt issuances by community banks, which have nearly matched the levels seen in the full-year 2019, with 80% of the transactions coming in the last...2020-07-2929 min
Street TalkEp. 65 - Deferral practices trap US bank portfolios in purgatoryBankers have expressed optimism about loan deferral trends but some members of the Street remain concerned about the unprecedented levels of forbearance and the potential loss content sitting on U.S. bank balance sheets. The episode features commentary from executives at JPMorgan, BancorpSouth Bank, Hancock Whitney, Signature Bank, Synovus Financial, Western Alliance Bancorp and U.S. Bancorp, responding to questions from the investment community about the pace of deferrals – which allow borrowers to defer principal and interest payments - the health of customers receiving forbearance and the amount of reserves institutions might have to set aside for the credits.2020-07-2818 min
Street TalkEp. 64 - Coronavirus jumpstarts digital adoptionThe coronavirus pandemic has pushed digital adoption five years into the future, prompted banks to invest more in technology and could set the stage for fintech and bank mergers later this year. In the episode, Todd Baker, senior fellow at Columbia University and managing principal of Broadmoor Consulting; Phil Goldfeder, senior vice president of public affairs at Cross River Bank; and Greg Smith, managing director at fintech-focused investment bank FT Partners, discuss how the coronavirus has changed the way customers access financial services and increased the possibility of mergers between banks and fintechs. The episode also features commentary from...2020-06-2219 min
Street TalkEp. 63 - Deal talks continue amid bank M&A freeze, setting up for strong Q4Bank M&A activity has nearly come to a screeching halt and deal announcements are unlikely to pick up soon. Still, Rick Childs, partner in advisory services group at Crowe LLP, said in the episode that a number of would-be cash buyers are engaging in deal talks but have agreed to longer exclusivity periods with targets given the uncertainty over the economy, asset quality and capital levels at both institutions. Childs also discussed how banks are approaching due diligence in the current environment as well as the possibility of banks terminating or recording goodwill impairments on deals announced before...2020-06-0929 min
Street TalkEp. 62 - 'Brutal' outlook for oil demand offers banks in oil patch no reliefBanks with exposure to the oil and gas sector have seen their stocks underperform the bank index as oil prices have plunged this year, raising the specter of increased defaults. That sector is unlikely to see relief any time soon. In the episode, Tom Watters, managing director and sector lead oil & gas at S&P Global Ratings, discussed the outlook for oil prices, how this downcycle compares to prior downturns and past bank redetermination periods. He also said oil and gas companies will have a hard time tapping the capital markets or attracting outright acquirers outside of bankruptcy. 2020-06-0213 min
Street TalkEp. 61- Investors debate if U.S. banks have enough capital in post COVID worldThe Street remains concerned that banks could have a hole in their balance sheets but even if dire outlooks are realized, the industry's capital levels should remain quite strong. In the episode, members of the investment community discuss current bank stock valuations, the Street’s view of future credit losses and capital levels and the market’s positive reaction to large reserve builds in the first quarter. The episode also features commentary from stress-testing experts, who say banks would be wise to look at the Great Recession for insight into future losses as well as our analysis of bank capi...2020-05-1214 min
Street TalkEp. 60 - You down with PPP? Consider the risksThe U.S. government and bank regulators have responded swiftly to the economic fallout from the coronavirus with unprecedented stimulus packages, including $349 billion for small businesses through the Paycheck Protection Program, or PPP. The program has offered a lifeline to banks' small business borrowers and attractive fees to some lenders but a group of bankers and advisers cautioned during our community bankers conference webinar series that the program is just a short-term fix and does come with some risk. 2020-04-2118 min
Street TalkEp. 59 - Coronavirus bailout already towers over TARP and more to comeThe U.S. government responded to the potential economic fallout from the coronavirus with a historic $2 trillion stimulus package, with nearly $350 billion focused on small businesses through the Paycheck Protection Program, or PPP. While the PPP kicked off with a rocky start, Isaac Boltansky, policy analyst at Compass Point, believes the Federal Reserve and U.S. Congress are committed to making it work, including through additional funding. In the episode, Boltansky, a former member of the TARP Congressional Oversight Panel, discussed the mechanics of the PPP and criticisms to date as well as his expectation for more financial support...2020-04-0817 min
Street TalkEp. 58 - Getting to the bottom of battered bank stocksBank stocks have been punished as interest rates have plunged and the outlook for economic growth has soured due to fears over the coronavirus, but the selloff could be overdone, according to RBC Capital Market's Gerard Cassidy. In the episode, Cassidy, head of U.S. bank equity strategy at RBC Capital Markets, discussed what has driven the roughly 40% decline in bank stocks over the last month, what current valuations imply about future performance and what he believes will bring investors back to the sector. 2020-03-1823 min
Street TalkEp. 57 - Community bank turns on digital channel for flood of depositsA number of regional banks have pushed for scale to invest in digital channels but some even smaller players have enlisted fintech firms to build platforms on their own. In the episode, Dale Oberkfell, president and CFO of Midwest BankCentre, a St. Louis-based bank with $2 billion in assets, discusses how his institution utilized software from MANTL to build a digital bank that attracted more than $100 million in deposits in just five months. MANTL COO and CFO Raj Patel also discussed future product offerings, including his expectation for more banks to offer commercial loans through digital channels. 2020-02-1924 min
Street TalkEp. 56 - Latest bank MOE shows even the strong need scale to thriveSouth State and CenterState are joining forces in another merger-of-equals driven by the desire to invest in technology, but the deal stands out as both institutions felt the need to partner despite operating on strong footing. In the episode, we we spoke with S&P Global Market Intelligence colleague Zach Fox, who spoke with key advisers about the drivers of the deal. The episode also features commentary from CenterState and South State executives on the deal and the efforts the latter has made to improve digital adoption among its customers as well as comparisons to previous large MOEs such...2020-01-2921 min
Street TalkEp. 55 - Longtime investor discusses bank stock outlook, playing the M&A tradeIn the episode, Anton Schutz, senior portfolio manager at Mendon Capital, offers his outlook for bank stocks in 2020 as well as bank M&A activity. The longtime bank investor said banks enjoyed a relief rally late in 2019 after being "oversold, underowned and hated" and the prospect of further increases in long-term rates and improvements in efficiencies will drive the group in 2020. Schutz also believes there is investor support for bank M&A, at least in the case of smartly-priced transactions. He said smaller acquirers remain in the catbird seat because they can evaluate a larger pool of potential sellers...2020-01-0922 min
Street TalkEp. 54 - Banks ramping up digital offerings to fend off fintech, big techTraditional banks face increasing competition from digital-only players, leading to further pressure on net interest margins. In the episode, Sandler O'Neill's co-head of investment banking and executives from First Horizon and South State Bank discuss the growth of digital-only deposit platforms, how have they kept banks from decreasing deposit costs despite Fed rate cuts and the investments that community and regional banks are making to combat the threat and improve their product offerings.2019-12-1124 min
Street TalkEp. 53 - Veteran analyst questions value of scale in big bank M&A, future of independent researchThe importance of scale has been a driver of larger bank deals announced in 2019 but longtime analyst Nancy Bush is skeptical of the argument. In the episode, the veteran bank analyst, who will retire at year-end, discussed recent large bank M&A, the future of equity research, including the prospect of other analysts opening independent firms like her own, and whether she believes bankers truly have learned lessons from past downturns and are better prepared for an eventual turn in the credit cycle.2019-12-0228 min
Street TalkEp. 52 - A bank's 'knife fight' to stay high performing in a low rate environmentThe current interest rate environment creates challenges for virtually all U.S. banks but some institutions, like Signature Bank in Rosemont, Ill., are still producing outsized returns. In the episode, Signature President and CEO Mick O'Rourke discusses how his bank has outperformed most banks, built prized noninterest-bearing deposits through superior service and technology and what changes he sees in the operating environment. ________ For more discussion on banks' efforts to modernize and use technology to compete effectively, join us in Charlotte, NC on Dec. 3 for an event focused on digital banking and innovation. https://www.spglobal.com/marketintelligence/en/events...2019-11-0421 min
Street TalkEp. 51- Goldman talks Libor transition, recent SOFR volatilityFinancial institutions will move away from Libor, a reference rate that tracks nearly $400 trillion in financial contracts, in just a few years and Goldman Sachs still sees the group adopting the Secured Overnight Financing Rate, or SOFR, despite the recent volatility in the relatively new benchmark. In the episode, Goldman's head of Libor transition, Jason Granet, discusses how prepared the banking industry is for the transition away from Libor, what Goldman is doing today ahead of the move and how the recent volatility in SOFR doesn't change its status as the true replacement for Libor in the U.S...2019-10-1426 min
Street TalkEp 50 - Challenging the legacy core bank providersA new bank technology firm, Neocova, is looking to chip away at the dominant market share of the legacy core system providers. The big three firms - Fiserv, Jack Henry and FIS – are the core providers for the majority of U.S. banks but Neocova and some others have emerged with new offerings. In the episode, Neocova CEO Sultan Meghji says his firm can help banks compete with larger institutions through greater customization and meet regulatory needs with greater efficiency through artificial intelligence-based technology. Ray Chandonnet, head of Hovde's financial strategy advisory group, recently helped Neocova raise capital, including from a...2019-09-2426 min
Street TalkEp 49 - Criticizing Fed policy, while fearing China and the 'magic money tree'Attendees at Camp Kotok, a gathering of market participants every August in Maine, were focused on recent Federal Reserve actions, how U.S.-China relations will influence future decisions and the potential for modern monetary theory to become a regular part U.S. policy. In the episode, Katie Darden, director of FIG research at S&P Global Market Intelligence, discusses the event and shares interviews with veteran practitioners like Jim Bianco, Danielle DiMartino Booth and David Kotok.2019-08-1622 min
Street TalkEp 48 - Bank M&A, investing against an inverted yield curveBank stocks have fallen over the last 12 months as fears of a global economic slowdown and a flat-to-inverted yield curve weighed on the group. The selloff caused bank M&A activity to slow early in 2019 but transactions have rebounded. In the episode, KBW President and CEO Tom Michaud discusses investor sentiment toward banks, whether their fears are overblown as well as his thoughts on recent deal activity, including the sales of some FIG-focused investment banks.2019-08-1221 min
Street TalkEp 47 - Bank branch closures take greatest toll on majority-black areasBank branches are much less likely to be located in majority-black communities — even high-income ones — than other parts of the U.S, according to an investigation by S&P Global Market Intelligence. In the episode, Zach Fox, a senior reporter and author of the analysis, discusses how the disparity between majority-black neighborhoods and other areas has grown in recent years, what has driven the change, which institutions have closed the most branches in those markets, what happens to communities when banks leave and whether current regulations such as the Community Reinvestment Act encourage institutions to serve those markets.2019-07-2921 min
Street TalkEp 46 - With delay, CECL won't be countercyclical for most banksFASB has proposed delaying implementation of a new reserve methodology, dubbed the current expected credit loss model, or CECL, for the vast majority of banks. The delay likely will prevent the new model from working as intended and allow institutions to build reserves well ahead of a downturn. In the episode, we highlight the number of banks impacted by the delay and include commentary from FASB board members on the aim of CECL and bankers and strategists weighing in on the prospect of a recession.2019-07-2314 min
Street TalkEp 45 - Fed moving from rate hikes to lower for longerFinancial institutions might be wise to prepare for lower interest rates and potentially for a fairly long time. In the episode, Tony Crescenzi, market strategist at PIMCO, discusses the recent yield curve inversion and his expectation for rates to remain low for a long period of time and possibly even decline notably from current levels.2019-06-2724 min
Street TalkEp 44 - Blockchain, what is it good for?A few years ago, blockchain technology caught fire across the Street, with some market participants arguing that it would displace many traditional financial services. Those lofty expectations have come back to earth, but practical applications are beginning to surface, including from the nation’s largest banks. In the episode, Tom Mason, fintech analyst at S&P Global Market Intelligence, discusses whether blockchain is a disruptor of traditional financial services or another arrow in the quiver for incumbent players.2019-06-2621 min
Street TalkEp 43 - More change, M&A on horizon for equity research industryAs the equity research business continues to face revenue headwinds, more firms could look to merge with pure play advisory shops. In the episode, George Kuznetsov, head of research and analytics at Coalition, which is owned by CRISIL under the S&P Global umbrella, discussed changes in i-banking league tables as well as the evolution of the equity research business and how it is only profitable for a few but essentially necessary for the vast majority of firms.2019-05-2922 min
Street TalkEp 42 - Banks losing consumer deposits to fintech, digital platforms, commercial might be nextFintech companies and digital-only players have become a threat to traditional banks' retail deposit bases and they could soon turn their focus toward commercial customers. In the episode, experts from Promontory Interfinancial Network and Sandler O'Neill and executives from Goldman Sachs, Heritage Bank and Republic Bank discuss the growth of digital-only deposit platforms, how they have changed the competitive landscape and what community banks can do to combat the threat.2019-05-0618 min
Street TalkEp 41 - How to win the funding battle, use fintech to play offenseInvestment banking firm Hovde recently unveiled a new practice that will work with community and regional banks on asset/liability strategies and ways to utilize technology, including through fintech partnerships, to improve efficiency. Ray Chandonnet, a banking industry veteran and head of the new group, discussed his return to investment banking, different funding strategies banks can employ to win business in a competitive environment and how institutions can work with and emulate fintech startups to attract new customers and become more efficient.2019-03-2829 min
Street TalkEp 40 - Digital banks take a page out of 'Mad Men'Some fintech companies are making hay with digital platforms that tout their differences with banks, even though they are often offering virtually the same products. In the episode, we discuss with colleagues Rachel Stone and Kiah Haslett the deposit strategies employed by the likes of Chime, Aspiration and other incumbent players such as Ally Financial, Discover and Capital One. Those efforts conjure up memories of a Don Draper pitch in Mad Men and likely will enjoy continued success.2019-03-1424 min
Street TalkEp 39 - A new era for blockbuster bank M&AThe days of large bank buyers pursuing deals to plant a flag in a new market might be gone with acquirers now seeing deals as a way to support investments in technology. BB&T touted that prospect when discussing its landmark merger of equals with SunTrust. In the episode, we spoke with S&P Global Market Intelligence colleagues Zach Fox and Joe Mantone about the drivers of BB&T/SunTrust merger, how much i-banks advising on the deal stand to earn and the prospect of other similarly sized transactions emerging in the future.2019-02-0819 min
Street TalkEp 38 - PG&E bankruptcy reveals climate change risk facing Calif. utilitiesThe PG&E Corp. bankruptcy shows that financial backers of California utilities need to consider the risks associated with climate change but that exposure might be unique to entities operating in the state. In the episode, Regulatory Research Associates analysts Dan Lowrey and Dennis Sperduto discuss the next steps in PG&E's bankruptcy process, the future of its power purchase agreements and the risks that climate change can bring to backing utilities.2019-02-0623 min
Street TalkEp 37 - Keep 'Marge' happy — how to win the battle for depositsThe competition for deposits is quite fierce and banks might even feel the greatest pressure when vying for large commercial customers. In the episode, Kelly Brown, CEO of American Deposit Management, a financial services firm that helps connect depositors with banks, talks about the competitive landscape and pricing in the market, while offering strategies to win new business. https://americandeposits.com2019-01-1422 min
Street TalkEp 36 - 2018 leaves bank investors bruised, searching for valueBank stocks just recorded their worst annual performance in seven years. Some analysts believe the selloff has left bank stocks undervalued, while others see few tailwinds to drive the group higher. In the episode, we highlight outlooks from Keefe Bruyette & Woods and Hovde Group analysts and make the case that investors looking for a port in the storm would be wise to back strong deposit franchises.2019-01-0714 min
Street TalkEp 35 - Recent selloff could make some bank franchises a bargainThe recent selloff has put some banks on sale at a time when their deposits are only becoming worth more, according to Chris Marinac, co-founder and director of research at FIG Partners. The veteran analyst believes bank stocks have fallen too much over the last two months and he sees value in strong deposit franchises, some of which could receive healthy takeout offers at some point down the road.2018-11-0620 min
Street TalkEp 34 - Digital lenders moving from disruptors to partners, tech providers for banksDigital lenders have enjoyed explosive growth but no longer are seen as pure disruptors to the banking industry as partnerships with traditional lenders have grown. Nimayi Dixit, research analyst at S&P Global Market Intelligence, explains how digital lenders have been successful and why many of their models likely will continue to evolve into fee-based, technology providers for banks.2018-11-0125 min
Street TalkEp 33 - National digital platforms intensify fight for depositsSeveral big banks have enjoyed early success in attracting new funds through national digital platforms and community banks should take notice as the battle for deposits heats up. The episode highlights the digital strategies employed by banks like Citizens Financial, PNC Financial and Goldman Sachs and features commentary from the management teams of those institutions.2018-10-2211 min
Street TalkEp 32 - On the ground in Puerto Rico – S&P investigates how bankers dealt with Hurricane MariaHurricane Maria caused close to $90 billion in damages in the Caribbean and took the lives of a nearly 3,000 people in Puerto Rico. The storm devastated telecommunications services and turned the island into a cash economy, making funds scarce for many banking customers. Lindsey White, who manages S&P Global's financial institutions' news team, visited Puerto Rico and spoke with bankers, regulators and members of the community about the aftermath of the storm, how banks responded and the market opportunities that lie ahead.2018-10-1520 min
Street TalkEp 31 - IPOs, blockbuster M&A deals are heating upU.S. IPO activity rebounded in the second quarter while big-ticket deals continued to drive growth in M&A activity. Favorable conditions remain in place and could help 2018 close near record levels, according to Joe Mantone, senior editor at S&P Global Market Intelligence. Mantone said that all means good things for investment banks, which are expected to fly high on strong results this year.2018-09-1827 min
Street TalkEp 30 - Eyebrows raised as leveraged loans, cov-lite deals hit record levelsThe leveraged loan market has ballooned to record levels and the concentration of covenant-lite deals has grown in kind, leaving investors with less protection if loans move into default. Tim Cross, managing editor LCD news, and Marina Lukatsky, director of LCD research, discuss the current state of the market and why they aren't sounding an alarm yet.2018-08-2225 min
Street TalkEp 29 - Higher rates shaking up deposits, national digital platforms more than hypeGreg Hertrich, managing director and head of U.S. depository strategies at Nomura, believes deposit competition should intensify further as interest rates move higher and a handful of large banks roll out national deposit platforms. He discussed how other banks could follow the move and how higher rates are one of rising risk factors that could challenge credit quality.2018-08-1624 min
Street Talk | S&P Global Market IntelligenceEp 28 - Despite investor concerns, KBW CEO sees more big bank M&AKBW CEO Tom Michaud discussed the disconnect between banks' fundamentals and investor caution toward the group. He also believes large bank M&A activity will pick up even though the Street reacted negatively to a handful of big-ticket deals.2018-08-0623 min
Street TalkEp 28 - Despite investor concerns, KBW CEO sees more big bank M&AKBW President and CEO Tom Michaud discussed the disconnect between banks' strong fundamental performance and investors' trepidation toward to the group. The Street has also reacted negatively to a handful of big-ticket bank deals, but Michaud believes large bank M&A activity will pick up.2018-08-0623 min
Street Talk | S&P Global Market IntelligenceEp 27 - Looking for the cream of the crop in bank stocksJoe Fenech, head of equity research at Hovde Group, discussed current bank stock valuations, the growing importance of deposits in valuing franchises and the market's increased skepticism toward M&A, including transactions that appear favorable for the buyer.2018-07-1620 min
Street Talk | S&P Global Market IntelligenceEp 26 - Financial consumer watchdog's powerful investigative tool faces overhaulMick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has changed the way the agency operates and reduced enforcement actions against banks. Now, Mulvaney is turning his attention to a powerful tool used by the agency called the civil investigative demand. S&P Global Market Intelligence colleague Brian Cheung discusses how the CFPB uses the tool and what changes could mean for banks and consumers.2018-07-1616 min
Street TalkEp 27 - Looking for the cream of the crop in bank stocksJoe Fenech, head of equity research at Hovde Group, discussed current bank stock valuations, the growing importance of deposits in valuing franchises and the market's increased skepticism toward M&A, including transactions that appear favorable for the buyer.2018-07-1620 min
Street TalkEp 26 - Financial consumer watchdog's powerful investigative tool faces overhaulMick Mulvaney, the acting director of the Consumer Financial Protection Bureau, has changed the way the agency operates and reduced enforcement actions against banks. Now, Mulvaney is turning his attention to a powerful tool used by the agency called the civil investigative demand. S&P Global Market Intelligence colleague Brian Cheung discusses how the CFPB uses the tool and what changes could mean for banks and consumers.2018-07-1116 min
Street Talk | S&P Global Market IntelligenceEp 25 - Wake up savers, watch out banks - CDs back in vogueCD specials are back. More banks are offering the promotional rates on CDs, or certificates of deposits, to attract new customers. While that is good news for savers, it means funding costs likely will rise even more for banks. The episode shines a light on recent CD rates offered by banks and features commentary on smart deposit strategies from Bruce Hinkle of StoneCastle Cash Management and KeyCorp CFO Donald Kimble.2018-06-2112 min
Street TalkEp 25 - Wake up savers, watch out banks - CDs back in vogueCD specials are back. More banks are offering the promotional rates on CDs, or certificates of deposits, to attract new customers. While that is good news for savers, it means funding costs likely will rise even more for banks. The episode shines a light on recent CD rates offered by banks and features commentary on smart deposit strategies from Bruce Hinkle of StoneCastle Cash Management and KeyCorp CFO Donald Kimble.2018-06-2012 min
Street Talk | S&P Global Market IntelligenceEp 24 - Don't call it a comeback - Startup investors backing banks againDe novo banks, or newly formed institutions, were all the rage before the credit crisis but virtually dried up in the years after the Great Recession. The tide is finally beginning to turn, with investors seeking to open banks across the country. Randy Dennis, president of DD&F Consulting, who has helped charter close to 100 banks in his career, discusses the new class of de novos and believes there will be considerably more activity.2018-05-2326 min
Street TalkEp 24 - De novos are back, get ready for moreDe novo banks, or newly formed institutions, were all the rage before the credit crisis but virtually dried up in the years after the Great Recession. The tide is finally beginning to turn, with investors seeking to open banks across the country. Randy Dennis, president of DD&F Consulting, who has helped charter close to 100 banks in his career, discusses the new class of de novos and believes there will be considerably more activity.2018-05-2126 min
Street Talk | S&P Global Market IntelligenceEp 23 - As more banks reach for yield, advisers urge cautionMore banks are reaching further out the yield curve in their loan portfolios to meet customer demands but, increasingly, advisers believe institutions need to proceed with caution. In the episode, experts from PIMCO, Sandler O’Neill, Chatham Financial and PrecisionLender discuss rate risk and how banks focused on funding will ultimately prove the winners.2018-05-0813 min
Street TalkEp 23 - As more banks reach for yield, advisers urge cautionMore banks are reaching further out the yield curve in their loan portfolios to meet customer demands but, increasingly, advisers believe institutions need to proceed with caution. In the episode, experts from PIMCO, Sandler O’Neill, Chatham Financial and PrecisionLender discuss rate risk and how banks focused on funding will ultimately prove the winners.2018-05-0813 min
Street Talk | S&P Global Market IntelligenceEp 22 - Blockchain reality checkBlockchain has been touted as a revolutionary technology that change will financial services forever. But, so far, despite millions invested in research and development by incumbents, fewer use cases have emerged than some had expected. Tom Mason, fintech research analyst at S&P Global Market Intelligence, explains how blockchain technology works and discusses its practical applications in financial services, while dispelling the notion that it will displace large institutions.2018-04-2624 min
Street TalkEp 22 - Blockchain reality checkBlockchain has been touted as a revolutionary technology that change will financial services forever. But, so far, despite millions invested in research and development by incumbents, fewer use cases have emerged than some had expected. Tom Mason, fintech research analyst at S&P Global Market Intelligence, explains how blockchain technology works and discusses its practical applications in financial services, while dispelling the notion that it will displace large institutions.2018-04-2624 min
Street Talk | S&P Global Market IntelligenceEp 21 - Bank investors finding winners in deposit-rich franchisesDeposits have become far more important to banks over the last year, particularly acquirers looking to bolster their funding bases. Given the change, Piper Jaffray analysts Matthew Clark and Will Curtiss say bank investors might find the greatest upside putting their cash behind would-be sellers with strong deposit franchises.2018-04-1816 min
Street Talk | S&P Global Market IntelligenceEp 20 - Accounting change will hit U.S. banks' capital but could prepare them for next downturnA new accounting provision changing the way U.S. banks reserve for loan losses will reduce the industry's capital by more than 10% and lead to greater volatility in earnings but might leave institutions better prepared for a downturn. Banks won't take the change in stride and are expected to respond by raising loan prices and slowing growth. Two colleagues from S&P Global Market Intelligence – Chris Vanderpool, a co-author of our bank projections, and Kiah Haslett, who reports on accounting issues – discuss the impact on the industry.2018-04-1820 min
Street TalkEp 21 - US bank investors finding winners in deposit-rich franchisesDeposits have become far more important to banks over the last year, particularly acquirers looking to bolster their funding bases. Given the change, Piper Jaffray analysts Matthew Clark and Will Curtiss say bank investors might find the greatest upside putting their cash behind would-be sellers with strong deposit franchises.2018-04-1816 min
Street TalkEp 20 - Accounting change will hit U.S. banks' capital but could prepare them for next downturnA new accounting provision changing the way U.S. banks reserve for loan losses will reduce the industry's capital by more than 10% and lead to greater volatility in earnings but might leave institutions better prepared for a downturn. Banks won't take the change in stride and are expected to respond by raising loan prices and slowing growth. Two colleagues from S&P Global Market Intelligence – Chris Vanderpool, a co-author of our bank projections, and Kiah Haslett, who reports on accounting issues – discuss the impact on the industry.2018-03-1920 min
Street Talk | S&P Global Market IntelligenceEp 19 - Using festivals, coworking spaces to reach customers without branchesBanks across the U.S. continue to shrink their branch networks but one community bank, Citizens Bank of Edmond, has gone a step further and replaced physical locations with innovative strategies, including the creation of a street festival and a coworking space for customers. Jill Castilla, the bank's CEO, discussed the transformation and how it has paid dividends.2018-02-2722 min
Street Talk | S&P Global Market IntelligenceEp 18 - Tax Reform Opens the Door For Fiercer Bank CompetitionWhile tax reform will offer big boost to bank earnings, some bankers, including the CEOs of JPMorgan and Capital One, expect the windfall of profits to lead to increased competition. Fiercer competition could benefit consumers since they would receive lower prices on loans and higher rates on deposits but it would mean lower margins for banks, whose stocks have rallied on the prospect of higher profits.y newest episode and discover more fascinating content from my channel!2018-02-2708 min
Street TalkEp 19 - Using festivals, coworking spaces to reach customers without branchesBanks across the U.S. continue to shrink their branch networks but one community bank, Citizens Bank of Edmond, has gone a step further and replaced physical locations with innovative strategies, including the creation of a street festival and a coworking space for customers. Jill Castilla, the bank's CEO, discussed the transformation and how it has paid dividends.2018-02-2722 min
Street TalkEp 18 - Tax Reform Opens the Door For Fiercer Bank CompetitionWhile tax reform will offer big boost to bank earnings, some bankers, including the CEOs of JPMorgan and Capital One, expect the windfall of profits to lead to increased competition. Fiercer competition could benefit consumers since they would receive lower prices on loans and higher rates on deposits but it would mean lower margins for banks, whose stocks have rallied on the prospect of higher profits.2018-02-1608 min
Street Talk | S&P Global Market IntelligenceEp 17 - Accounting change could create $70 billion capital hit for banksA new accounting standard that changes that way banks reserve for loan losses might not sound that earth-shattering but it could lead to a capital shortfall as large as $70 billion across the banking industry. Josh Siegel, CEO of StoneCastle Partners, an investor and adviser to community banks, and Ethan Heisler, president of the Bank Treasury Newsletter, discuss the impact of new standard, dubbed the current expected credit loss model, or CECL.2018-01-2934 min
Street TalkEp 17 - Accounting change could create $70 billion capital hit for banksA new accounting standard that changes that way banks reserve for loan losses might not sound that earth-shattering but it could lead to a capital shortfall as large as $70 billion across the banking industry. Josh Siegel, CEO of StoneCastle Partners, an investor and adviser to community banks, and Ethan Heisler, president of the Bank Treasury Newsletter, discuss the impact of new standard, dubbed the current expected credit loss model, or CECL.2018-01-2534 min
Street Talk | S&P Global Market IntelligenceEp 16 - Tax reform to add another wrinkle to bank M&AWe spoke with Rick Childs, partner at Crowe Horwath LLP, about tax reform's impact on bank M&A activity. While tax reform has caused bank stocks to rise and could make a number of deals easier to ink, a lower tax rate will make one aspect of bank acquisitions more expensive.2018-01-1021 min
Street TalkEp 16 - Tax reform to add another wrinkle to bank M&AWe spoke with Rick Childs, partner at Crowe Horwath LLP, about tax reform's impact on bank M&A activity. While tax reform has caused bank stocks to rise and could make a number of deals easier to ink, a lower tax rate will make one aspect of bank acquisitions more expensive.2018-01-1021 min
Street Talk | S&P Global Market IntelligenceEp 15- Loan yield pressure limiting tax reform boost for US community banksIn the episode, we offer our updated and more bearish outlook for community banks. While community bank earnings are still poised to grow higher, largely due to a boost from tax reform, hopes for considerable margin expansion have been dashed.2018-01-0906 min
Street TalkEp 15- Loan yield pressure limiting tax reform boost for US community banksIn the episode, we offer our updated and more bearish outlook for community banks. While community bank earnings are still poised to grow higher, largely due to a boost from tax reform, hopes for considerable margin expansion have been dashed.2018-01-0806 min
Street TalkEp 14 - An activist's view of US banksWe spoke with PL Capital's Rich Lashley, longtime bank investor and shareholder activist, about his view of U.S. banks and how the increase in valuations has left fewer investment opportunities. He also offered his outlook for M&A activity and fundamentals, including the prospect of rising deposit costs that will likely separate the true "haves and have nots."2017-12-1320 min
Street TalkEp 13 - Good times rolling in bank IPO marketWe spoke with the co-heads of Stephens' financial institutions practice about the resurgence in bank IPO activity, what investors are looking for in new issuances, the current IPO pipeline and the success the firm has enjoyed since ramping up its depository practice.2017-11-2022 min
Street TalkEp 12 - Bank valuations looking rich amid weaker loan growthWe spoke with Jeff Davis, managing director of Mercer Capital's financial institutions group, about banks' third-quarter earnings season, what results say about the current stage of the credit cycle, stock valuations and the prospect of higher deposit costs and future loan growth.2017-11-0126 min
Street TalkEp 11 - Where are we in the credit cycle, banks crossing over with fintechIn the latest episode, we discussed the highlights of the Big Decisions in Banking Conference with S&P Global Market Intelligence colleagues Brian Cheung and Eric Turner. The conference covered the future of bank M&A, regulation and the current stage of the credit cycle as well as the crossover between fintech and traditional banking.2017-10-1821 min
Street TalkEp 10 - Bankers shouldn't get too comfortable with their deposit basesWe spoke with Sandler O'Neill Chief Balance Sheet Strategist Scott Hildenbrand about the growing importance of deposits in bank M&A and what actions banks have taken to prepare their funding bases for rising rates.2017-10-0312 min
Street TalkEp 9 - Looking for value in bank stocks with KBW's CEOWe spoke with KBW President and CEO Tom Michaud about his outlook for bank stocks, what issues are of most importance to investors and how deposits are coming back in focus in bank M&A activity.2017-09-2715 min
Street TalkEp 8 - Harvey hits Big Oil but banks, insurers should weather the stormWe asked three members of S&P Global Market Intelligence team – Bill Holland, Tim Zawacki and Zach Fox – how Hurricane Harvey will impact the energy, insurance and banking sectors.2017-09-0627 min
Street TalkEp 7 - How exposed are banks to the retail sectorWe spoke with Raymond James Managing Director Michael Rose about banks' exposure to the retail sector and whether investors' concerns over the issue are warranted.2017-08-2817 min
Street TalkEp 6 - Scale still matters for small banks, de novosWe spoke with Jones Day Partner Chip MacDonald about the potential for regulatory reform and what certain carve-outs could mean for the smaller institutions, including de novo banks.2017-08-2821 min
Street TalkEp 5 - What blockchain means for banksWe spoke with fintech research analyst Eric Turner about the impact blockchain will have on banks and financial services as well as the practical uses and potential cost of ignoring the technology.2017-08-2820 min