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• W307542028 abstract "One of the major themes for community banks in 2004 can be summed up in a single word: regulation. Banks of all sizes were affected by the likes of the Patriot Act, Sarbanes-Oxley and the Bank Secrecy Act, but for small banks with limited human and financial resources, these additional regulatory burdens presented a challenge that prompted some institutions to cry uncle and place themselves on the auction block. There were 257 whole M&A deals involving target banks of less than $3 billion in assets in 2004, 27 more than in 2003 and 41 more than in 2002. Increased regulatory burdens often require new technology investments, new procedures and controls, and additional staff to ensure compliance and safe and sound operations. Large banks have been shelling out big bucks to acquire the talent required to fill chief compliance officer roles, but the money is worth it for them to avoid costly fines and even costlier damage to their reputations. Community banks often cannot afford such luxuries, and as a result, some are forced to merge with other entities in order to spread the costs and to acquire the critical mass to justify additional compliance-related expenditures. The increased regulatory burden will not abate in the foreseeable future, as regulators will continue to scrutinize internal controls and anti-money laundering compliance. Despite this burden, many community banks found ways to generate high returns. In some cases, these returns were attributable to one-time events, such as an asset sale or the reversal of a loan loss provision. In other cases, institutions may have been growing their businesses at a pace that made it difficult for them to manage the associated risks and regulatory requirements. More than a dozen banks across our three top-performer lists had regulatory orders against them at the time this article was written. While some of the enforcement actions were related to isolated problems, others included such serious infractions as inadequate capital and poor loan administration. By contrast, other institutions have been in the top 50 for several years. Thus the rankings may or may not indicate superior management ability or quality of earnings. They reflect the results of one year's operations. Last month, Part 1 of the 13th annual ABA Banking Journal performance rankings reviewed the performance of the nation's largest banks and bank holding companies, thrifts, and specialty lenders. Part 2 of the rankings highlights the successes of community banks and small savings institutions that exhibited outstanding performance in 2004. Ranking methodology Our ranking assesses the performance of three groups of community financial institutions, defined by size and corporate structure: * Non-subchapter S commercial banks, thrifts, and bank holding companies with consolidated total assets between $100 million and $3 billion, * Non-subchapter S commercial banks, thrifts, and bank holding companies with consolidated total assets less than $100 million, and * Subchapter S commercial banks, thrifts, and bank holding companies with consolidated total assets less than $3 billion. Previously, the community bank rankings have focused on institutions with assets of less than $1 billion. We changed the criterion this year to better separate community and regional institutions with localized operations from super-regional and very large banks, which are likely to have different operating models. The rankings are based on consolidated statistics for the highest regulatory reporting level available for each institution. We believe this methodology provides the most complete picture of the businesses' strategies, including those that involve diversification into non-traditional or fee-based businesses for which data may not be captured at the subsidiary level. There were 97 holding companies for which consolidated information was not available. …" @default.
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• W307542028 date "2005-07-01" @default.
• W307542028 modified "2023-09-26" @default.
• W307542028 title "Top Performers 2005: Part 2: Banks and Thrifts with Assets under $3 Billion" @default.
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