Correspondent Blog

Ask a banker about the value of their bank, and they will either talk about some derivation of book value or earnings multiple. While these bankers are not wrong, they are not exactly right. While both valuation methods provide everyone with a nice, tidy sum of value, the data could be more actionable. You might…

You can always tell a good banker by the way they handle their deposits. With loans, it’s hard to discern expert-level skills unless you know the market and the credit. Deposits, however, are pure. When we analyze a bank, it is typically the first thing we look for, as deposit pricing and structure are the…