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That -- Well -- US regional and community bank stocks like other small and midcap stocks have been flying highs since the first of the year but does excess.
On the street -- in the community banks -- are safe havens for your business as a consumer haven't -- investors -- CEO joins me now.
You yourself have seen your stock it just hit a fresh 52 week high but there was a recent report that we're gonna see a lot more.
Bank closures this year on the small side 758.
Domestic banks are nervous about that the overall picture that your.
-- on our market New Jersey is done very well in new York New Jersey metropolitan area have been very -- fit bank failures.
Why is that do you think then because if you look at it look that the major banks the big financials have done well this year but -- they obviously did not.
Yet we're seeing a lot of investor interest in the regional -- so why do you think that there's a shift.
On the investment side of -- what are you doing at the big banks are doing.
Well we're closer to the community we have great opportunities.
In our marketplace.
From national banks have to -- just North Carolina.
Spain or wherever it may be where close it's a market and we can react more quickly.
Okay your stock is up sixty as he's an 11% year over year 10% -- today.
Do you think that the analyst community is saying that you are actually signing more those residential loans or do you think it's -- the commercial properties side.
That you're doing -- long reaping the -- -- right now we're.
Growth story and -- transformation story attract investors has created a four billion dollar commercial bank in the last four years so we're more a transformation from a thrift.
To a full service community bank and and at our size we can make the five million dollar loan and we can make to thirty million now.
Aren't you nervous about the Volcker Rule the implementation of that because I know a lot of the focus again has been on the big financials how they're gonna handle -- but several CF from the smaller banks commitments say.
This makes us incredibly nervous to think that the compliance level should -- be.
You know -- -- going from a billion go to may be ten billion so that names like yourself are not hit.
With the fees that are going to be associated with the -- several incidents of the big concern for them.
Well we just crossed that ten million dollars in June -- -- yeah so you know we're we're in play or break out -- attract so when you look at things though it's a hold Dodd-Frank think Pakistan's certainty.
And to us we look at as an opportunity so hopefully we will be able to take advantage -- advantage of it when the smaller banks.
Want to give up and maybe too much compliance cost.
You've said in the past you've been approached by emigrant bank about bank that is looking to either sell itself in part or as a whole are -- still interest to them that opportunity.
You know we want to expand in the New York metropolitan area.
They have branches and -- Brooklyn and queens Manhattan we'd be very accident and that's franchise.
You're still looking at and 86 branches right now and you and you workhorse is -- expanded I notice that from.
300 what 909 we just completed a fifth acquisition.
Brooklyn federal so we have nine branches now in new New York City market.
And Long Island.
And we're looking to expand and in going east.
Not last but looking into -- high density populated areas and we think it's great opportunity for the bank.
I don't what do you think that investors need to know about regional banks again I've had several analysts c'mon recommend that sector.
What what do you think differentiates regionals but large banks I mean why is it your time.
Well as an investor think investors should be concerned with three things credit credit credit.
And that's really drives as a successful community bank regional bank so you're seeing your credit is were loose for customers.
-- -- More available I guess easier to access at a smaller bank in the larger bank is -- -- you a closer to the decision makers but actually managing their credit risk is very important.
We've originated over three billion dollars in loans to list three years of nine billion dollars of bonds so there's no credit crunch at the community banks -- -- because you have seen that so many borrowers.
Come on television is that they get a bank -- I can't get my mortgage you're -- I'm partly that is kind of erratic.
Come near that -- -- right Kevin Cummings investors banks -- your -- and general well thank you very much Kevin thanks for your time.
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