Charles C. Fawcett, IV, currently works as the president of private banking at TriState Capital. In this position, Charles C. Fawcett, IV, focuses on building relationships with family offices and wealth managers. TriState Capital assists customers who have been underserved as a result of changes in the banking industry.
During the months that followed the country’s recent Great Recession, financial analysts predicted a massive wave of bank failures in the United States. As many as 40% of existing banks were expected to close down or consolidate business. Seven years of data from the Federal Deposit Insurance Corporation (FDIC), however, has shown that fewer than 500 banks have closed since 2008. On the other hand, the forecast of widespread mergers and acquisitions may not have been so inaccurate. Indeed, American banks may continue to be hit by smaller cycles of consolidation in the future. There are a number of indicators that signal further mergers and acquisitions in 2013 and beyond. Consider that the Troubled Asset Relief Program (TARP) will double rates on unpaid funds, combined with increased pressure expense from regulatory changes, together may encourage consolidation among smaller institutions.
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AuthorFor more than two decades, business expert Charles C. Fawcett IV has enjoyed an outstanding level of success in finance, sales, and product development. Archives
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