News & Events Sep 8, 2010

The nation's banking system was brought nearly to its knees just two years ago, after the housing market collapsed. Now, several Arkansas banks have actually been expanding by buying up what's left of failed banks elsewhere. Those banks are offered at firesale prices, but they come with some unique challenges.

Randy Dennis, President of DD&F Consulting, quoted in this article.

It will take years for the banking sector to realize the full implications of the Dodd-Frank Act, but expect at least one immediate side effect: a renewed interest in mergers and acquisitions.

Randy Dennis, President of DD&F Consulting, quoted in this article.

A friendly rivalry in Oregon turned nasty when a tiny bank tried to acquire a neighbor through a seldom-used maneuver: the hostile takeover bid.

BEO Bancorp in rural Heppner said that after spurning an unsolicited offer from Community Bancshares Inc. in Joseph, it learned only by reading the paper that Community had applied with regulators to buy up to 100% of the company. Community claims BEO bad-mouthed it.

Randy Dennis, President of DD&F Consulting, quoted in this article.

Congratulations! to our clients Home BancShares, Inc., Bank of the Ozarks, Bay Bank, FSB, and The Jefferson Bank for their recent and successful FDIC assisted acquisitions.

Kudos! to DD&F’s Josh Dennis for graduating from Barret School of Banking and Kyle Shadid for completing year #2!

Randy Dennis, President of DD&F, guest speaker, “Is M&A Activity DOA?”

Randy Dennis, President of DD&F, featured speaker, “Financial Industry Update-what does it mean?”

LITTLE ROCK — Home BancShares, the holding company for Centennial Bank, purchased its third and fourth Florida banks on Friday, the Conway-based firm said.

The two banks are in the Florida panhandle.

Home BancShares bought Coastal Community Bank of Panama City and Bayside Savings Bank in Port St. Joe, which is about 25 miles southeast of Panama City.

Both were Federal Deposit Insurance Corp-assisted purchases.

Randy Dennis, President of DD&F Consulting, quoted in this article.

LITTLE ROCK — Metropolitan National Bank in Little Rock said Friday that it lost $2.4 million in the second quarter this year, its seventh-straight quarter of losses.

The private bank lost $32.5 million in the second quarter of last year and more than $80 million for all 2009.

Most of Metropolitan’s problems are connected to real-estate lending in Northwest Arkansas.

“While any loss is disappointing, our financial results are improving and our balance sheet is significantly more stable than it’s been over the last two years,” Lunsford Bridges, president and chief executive officer, said in a prepared statement.“

Randy Dennis, President of DD&F Consulting, quoted in this article.

DD&F Consulting Group, a Little Rock-based financial consulting company, has formed a joint venture to advise banks with managing assets and reporting requirements after an acquisition.

DD&F Consulting Group, a full service financial consulting firm headquartered in Little Rock, Arkansas, and Dittrich & Associates, one of the nation’s leading consulting firms on asset management, headquartered in Joplin, Missouri, have recently entered into a joint venture, Enhanced Asset Solutions (“EAS”), to assist banks with post acquisition asset management and loss share reporting for FDIC-assisted acquisitions.

In 1998, Regions Financial Corp. acquired First Commercial Corp. for $2.7 billion - more than four times First Commercial’s book value. It was the highest price-to book value ever paid for an Arkansas bank and at the time one of the highest values paid for a bank nationally...  Now, nearly three years after the beginning of the worst economic crisis since the Great Depression, the value of banks has collapsed.

Randy Dennis, President of DD&F Consulting, quoted in this article.

The next big challenge in retail banking will be the forthcoming changes to consumer overdraft protection. Amendments to Regulation E imposed by the Board of Governors of the Federal Reserve System in late 2009 are set to go into effect for new banking customers on July 1 and existing customers on August 15.

Debi Barnes, Principal of Marketing and Communications, quoted in this article. 

Former Alabama National Bancorp. executives John H. Holcomb III and Robert Aland are leading an investment group planning to pump a large amount of capital into Red Mountain Bank, according to sources familiar with the deal.

Randy Dennis, President of DD&F Consulting, quoted in this article.

LITTLE ROCK — Small banks in Arkansas are concerned that two bills in Congress that address problems that led to the near-collapse of the nation’s financial system in 2008 and 2009 would put them at a disadvantage.

Randy Dennis, President of DD&F Consulting, quoted in this article.

DD&F Consulting Group is proud to announce a new joint venture, “Enhanced Asset Solutions” with Gaines Dittrich, President and CEO of Dittrich and Associates. This relationship will allow DD&F to provide our clients with the most extensive and broad based expertise in managing troubled assets available. For more information about this new alliance call Randy Dennis or Bob Fegtly 501-374-2600 or contact us at info@ddfconsulting.com.

Josh Dennis and Zach Dennis recently graduated from Barret School of Banking in Memphis, TN with honors and Kyle Shadid completed his second year of the 3- year at the banking school.

Congratulations! To our newest clients Community First Bank and Simmons First National Bank for their recent and successful FDIC assisted acquisition.

DD&F Consulting Group was recently ranked #1 in completed FDIC assisted acquisitions by SNL Financial for the first quarter of 2010.