One Person’s Trash, Another Person’s… Bank?
According to a recent study, the majority of bank executives (62 percent) report their bank is interested in pursuing a failed bank. In other words, if you can’t beat ‘em (and they can’t beat you), buy ‘em.
Chicago-based Grant Thornton LLP’s 17th Bank Executive Survey, conducted in conjunction with Bank Director magazine, came to a number of other conclusions regarding living banks proclivity to buy their dead colleagues.
For instance, it seems size really does matter. More small banks (46 percent) reported they are interested in being bidders than large banks (36 percent). In addition, more small banks (21 percent) reported they are interested in learning more about the process than large banks (15 percent).
Of course, said large banks may have gotten large by already gorging themselves on the rotting carrion of dead rivals, but that’s not the point. It’s the little guys turn to fatten up on the leftovers!
A financial institution’s location also seems to play a part in its interest in acquiring a failed bank. Nearly three-quarters of bankers in the West (72 percent) and Central (71 percent) parts of the country are interested in pursuing a failed bank, compared to only half (52 percent) in the Northeast. Bankers in the West (55 percent) and Central (52 percent) regions are also more interested in being bidders than in other parts of the country (44 percent in the Southeast, 37 percent in the Midwest and 34 percent in the Northeast).
Can’t Buy Me Love
Who knew the American Bankers Association were such romantics?
The Teller always assumed it was full of stern, calculating middle-aged men in expensive suits that knew when to turn folks like us down for a new credit card.
We didn’t think they had the time or inclination to involve themselves in trivial things like marriage. Well, forgive us for stereotyping.
We got our rough, blue-collar hands on a missive from the ABA just in time to melt the heart of any cupid entitled Money Can’t Buy Love, But Can Buy Headaches: ABA Education Foundation’s Top Financial Prenuptial Tips.
That’s right, just in time for Valentine’s Day, marriage advice from the ABA. Or rather, advice on how to make sure divorce goes more smoothly.
Some things to consider before tying the knot, courtesy of those saps in D.C.:
Decide whether combining finances is really prudent. Or as the ABA says, "consider individual money styles and find a system that works for you." Money "styles?" If your style isn’t "get money, spend money" you’re not The Teller’s type.
Tackle debt as a team. "Honey, I know it was imprudent to take out eight credit cards when I was in college and max them all out on beer, pizza and trips to exotic pet stores, but it sure was fun! And now, what’s mine is yours! Love you!"
Saving cash saves marriages. Spending said cash secretly on truckloads of Slankets and Sham-Wows ends marriages. Quickly.
Calculate costs and discuss how bills will be paid. If you physically write the check, it’s your prerogative to forget to send it.
"Love is the bond that connects, and money could be the wedge that separates," said Laura Fisher, ABA Education Foundation director.
Thanks, Laura. What are you up to Friday night, we wonder? Want to take the Teller out? We can go Dutch. We think this might be the start of something special – and creditworthy.
