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Ragnar!

Ragnar!

April 20, 2018

Authored by: Robert Klingler

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.

 

The BCLP Ragnar Teams

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.

The bankers that sped ahead were as follows:

  • 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.

The awkwardly moving lawyers were as follows:

  • Ryan Barrow, Porter Keadle Moore (but an honorary lawyer for the weekend)
  • Megan Canning
  • Crystal Homa
  • Dan Wheeler
  • Kevin Strachan
  • Jonathan Hightower
  • Sean Christy
  • Myself

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.

the-bank-accountIn 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.

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Getting to Yes: A Conversation About Deal Certainty

the-bank-accountJonathan and I discuss deal protections and considerations – from the initial emotions of deciding to sell through deal signing in this latest episode of The Bank Account.

This episode has, in my opinion, some great information for banks looking to undertake M&A activity, from either the buyer or seller’s perspective.  But, I’m most impressed with our smooth transition from friendly banter about our upcoming Ragnar race to our substantive discussion.  (Of course the face that I’m impressed only emphasises that I shouldn’t quit my day job.)

As noted on the podcast and previously, we are sponsoring two teams, one of lawyers and one of bankers, for the Atlanta Ragnar Trail Run on April 13th and 14th.  Sixteen of us will be taking turns running five mile legs at the Georgia International Horse Park over a 24-hour (or so) period.  Today we settled on team names: Team BSA and AML.  Team BSA (or Bankers Speed Ahead) will generally consist of our friendly bankers, while Team AML (or Awkwardly Moving Lawyers) will consist of our compatriots from the firm.  We’re pretty comfortable that the names will accurately reflect the results.

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Reinvestment Opportunities Created by Tax Reform

the-bank-accountJonathan and I are back in our studio, and took this opportunity to talk a little about what we’re seeing from our clients, particularly as it comes to reinvesting their tax savings into future opportunities.  Before digging into substance, we first take a little time on the therapist’s couch to address Jonathan’s experience at the College Football National Championship Game. Only 190 days until college football is back!

With regard to tax reform savings, the go to resource for identifying the breadth of ways that banks are addressing is the American Bankers Association’s page at aba.com/EnergizingTheEconomy.  As you can see from that list, the responses really run the gamut of possibilities, including salary increases, increasing employee benefits, greater charitable contributions, new positions and products, fintech investments and addressing margin compression.

As noted on the podcast, we are sponsoring two teams, one of lawyers and one of bankers, for the Atlanta Ragnar Trail Run on April 13th and 14th.  Sixteen of us will be taking turns running five mile legs at the Georgia International Horse Park over a 24-hour (or so) period.  More details to follow, but we’re certainly expanding away from traditional marketing efforts.

We also hope you’ll consider joining us in Macon, Georgia, on April 4, 2018, for the Georgia Bankers Association’s Current Expected Credit Loss (CECL) Workshop.  We’ll be joining our friends from Mauldin & Jenkins to discuss upcoming regulatory changes and the impact of tax reform from a strategic perspective.

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