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News came out last -- Fully -- huge commercial -- my next guest regional bank is taking a bite out of the Big Apple posting record earnings there fourth quarter due in part.
To continued loan growth.
Joining me for our checks announce a series -- Scott say he is chairman of signature bank based you're New York you've got 25 offices.
You're primarily in the commercial side of the business and you're looking for business customers are loaning to business right how is this is -- alpha portfolio.
Business is good our portfolio is great in terms of our non performing assets right now.
A non performing loans or zero point 29% of assets so very very -- our credit -- quality is great.
We're seeing a better tone in terms of demand for business lending.
The bulk of our clients are companies from with fifty to 500 employees -- where.
Dead set in the middle market we're trying to serve owners of privately held companies.
And in general they're feeling better about the economy in -- governed by the consumer protection bureau -- FDIC's -- -- while so I'm curious if you're concerned about.
These -- are proposals that are coming out of the protection bureau -- quarter in particular.
I think that there is for us we although we are governed by the CSF.
The C effect being -- on this on the bulk of our business it's true they will him they will have oversight capacity -- But I think that's more symptomatic.
Broken regulatory framework for US banks.
Might think that the CF the Consumer Financial Protection Bureau along with the -- world.
Are all attempts to deal with problems.
-- -- are really ignoring the overall structure the overall problem which is a structure of.
US banking which is that we've now got.
Five banks with 60% of the assets of the banking industry in the country too big to fail banks if you if you call them that one of banknorth quoted recently as saying that the -- -- particular.
Is -- and let me give -- exact -- the defining fight.
For our industry this is of the Volcker Rule does in effect -- lot right it's defining fight.
For a handful of banks for signature bank for example it has no impact.
Basically whatsoever a -- the issue is we repealed be the government repealed Glass-Steagall.
Ending -- opened a whole panoply of issues in which.
It's sort of like I'm opening the DM -- and trying to figure out how to create little.
Little areas of dryness I mean that the -- up fundamentally fix the issues that -- broke that were brought up by glass -- would be.
For better for -- to reinstate it.
Ted -- it to bring that the issues to fix the issues that -- was trying to -- -- reinstate Glass-Steagall.
Okay at less about the that the -- of people they're working with her New York of the business community themselves.
What are they telling you -- not only does a bank like yourself of the regional banks overall your entire sector have to deal with more regulation coming.
Your your clients do -- one customers.
What did they say about the regulatory -- I think they have different takes depending and businesses there and I think generally.
As -- said clients are feeling better I think that clients not great but that great but better is definitely better tone.
We see better.
Loan proposals coming to is people thinking about hiring people thinking about new business opportunities people thinking about XP and we didn't see that for a couple years.
I think the regulation that bothers our clients tends to be more state in industry specific.
Where again we do you have there is a trend toward more and more regulation you have a bright you have -- S image of securities broker dealer.
They're all until I mean and friends I have -- at those banks -- that we're trying to get into you know private wealth management right how to get away.
Investment banking is is kind of a dying.
-- -- business do you agree with that is that a fair assessment do you think -- industry right now well.
Primarily the business we're doing this for clients we're -- two parts of our business in two types of business and -- securities.
They both really relates record business and one is.
We're helping our clients manage their assets their wealth if they sell companies they might provide put the -- into signature securities will help them.
With all the issues relating to how -- Deal with.
Generational issues etc.
And the second part is also something that we're very used to which is we're in the quarter ending assembly business -- BA -- Small Business Administration once again.
Part of the notion of being -- New market.
Look and real quick Scott before I let you go I mentioned at the top but the fourth quarter your net income for fourth quarter for 2000 Lavinia hit records -- -- -- in 2012 you know.
We start at eleven years ago.
We take every quarter and just keep going straight forward we try not to get distracted.
And as long as we keep doing there will be delivering value what the rest of doesn't distract and you you -- because indicators got say thank you very much for coming on the shoppers -- having there.
With mariner Kemper UNB financial's chairman and CEO.
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