On April 13 and 14, 2018, the Financial Services Corporate and Regulatory Team of Bryan Cave Leighton Paisner sponsored two teams at the Atlanta Ragnar Trail race. On this episode of The Bank Account, Jonathan and I discuss the Ragnar race, our thoughts about the Ragnar race, the ambiance of the Ragnar race, the decline of multi-bank charter bank holding companies, and a few final thoughts about the Ragnar race. We also give thanks to so many colleagues that helped us with the Atlanta Ragnar Trail race. In other words, if you’re interested about the Atlanta Ragnar Trail race, this is a great episode.
We divided into two teams, Team BSA (Bankers Speed Ahead) and Team AML (Awkwardly Moving Lawyers). On paper, it looked like it would be a tight race. However, the trails proved to be significantly different than running on paper. In addition, the Awkwardly Moving Lawyers became significantly more awkwardly moving (and slower) when our fastest colleague, Dan Wheeler, badly twisted his ankle on his first leg of the race. (As one banker commented, the lawyers were quite effective in ensuring that their clients would prevail.)
Team BSA finished in 21 hours, 51 minutes and 50 seconds; 23rd overall and 1st in the corporate team division.
- Charlie Crawford, Hyperion Bank
- Heath Fountain, Planters First Bank
- Bo Brannen, Georgia Bankers Association
- Nick Clark, Charter Bank
- Jim Walker, PrimeSouth Bank
- JW Dukes, Ameris Bank
- Jackson McConnell, Pinnacle Bank
- Dennis Zember, Ameris Bank
Several hours later, Team AML finished in 23 hours, 38 minutes and 19 seconds; 63rd overall and 6th in the corporate team division.
- Ryan Barrow, Porter Keadle Moore (but an honorary lawyer for the weekend)
- Megan Canning
- Crystal Homa
- Dan Wheeler
- Kevin Strachan
- Jonathan Hightower
- Sean Christy
Charlie Crawford, Jackson McConnell, and Dennis Zember were the three fastest runners for the weekend from Teams BSA and AML, but I believe all had a good time.
In actual banking news, we discussed Hilary Burns story in the American Banker, “Do multiple charters still make sense?” In our discussion of the landscape of the U.S. banking environment last year, we touched on the statistical decline in multi-bank charters.
- In 2016, 632 charters were held by 241 multi-bank holding companies (representing 2.6 charters each).
- In 2006, 1,670 charters were held by 518 multi-bank holding companies (representing 3.2 charters each).
In 2018, we struggle (and in the podcast, the struggle is awkward silence) to provide any material benefit to the multi-bank charter structure.