Quarterly Letters
Each quarter Danielson Associates publishes its New Bank Report which contains a letter from one of its principals highlighting an issue confronting new banks. The following are the letters that appeared in the front of each report.
My Bank’s Worth What?
An analysis of the impact of NPAs on new bank prices (2nd quarter 2009)
Tough Times for New Banks
A review of new bank losses, sales and failures (1st quarter 2009)
New Bank TARP Recipients
A summary of where the TARP went by state (4th quarter 2008)
What a Difference a Year Makes – 2006 vs. 2008
An overview of the change in performance and time it takes to reach breakeven (3rd quarter 2008)
Cyclical nature of new bank sale pricing – 1994 vs. 2008
Comparisons are made of the M&A market for new bank sales in 1994, which was a cyclical low, to the lows of 2008 (2nd quarter 2008)
Why Don’t They Love Us Anymore?
Investors punish the good banks and bad banks alike and pay little attention to earnings (1st quarter 2008)
Where’s My Deal? Or Do I Really Have to Partner Up?
The old serial buyers are no longer snapping up new banks so new banks are partnering with each other (4th quarter 2007)