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Street Talk

Street Talk

Nathan Stovall | S&P Global Market Intelligence

Nathan Stovall, director of financial institutions research at S&P Global Market Intelligence, takes a deep dive into issues facing financial institutions and the investment community. Tune in for interviews with industry insiders as well as brief outlooks for the banking sector.

134 - Ep. 132 - How the 2024 election could reshape bank regulation and M&A
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  • 134 - Ep. 132 - How the 2024 election could reshape bank regulation and M&A

    The U.S. election could change the legislative, supervisory and regulatory framework for the banking industry. In the episode, we discuss what different election outcomes could mean for banks with three guests focused on policy, regulation and rulemaking: Paul Merski, executive vice president, congressional relations and strategy at the Independent Community Bankers of America; Naomi Camper, chief policy officer at the American Bankers Association; and Isaac Boltansky, managing director and director of policy research at BTIG. The group outlined the current regulatory framework under the Biden administration and how it has differed from the Trump administration. The panelists agreed that a Harris presidency could be seen as a continuation of the existing regulatory framework and noted that a Trump victory could lead to significant regulatory shifts, particularly around consumer issues, fintech and bank M&A activity. But, they also noted that both candidates have shared populist views, creating a horseshoe effect of the ideological specturm.

    Thu, 31 Oct 2024 - 30min
  • 133 - Ep. 131 - Bank boards capitulating, pushing for scale to combat challenges

    The operating environment remains challenging for many banks but experts at Raymond James’ annual whole loan conference in September 2024 noted there is a growing acceptance and willingness to pursue deals to counter headwinds facing the group. In the episode, three veterans at Raymond James – John Toohig, head of whole loan trading; Bill Sammon, head of financial services capital markets; and Bob Toma, managing director in financial services investment banking – discussed the outlook for bank earnings, the heath of the consumer, the threat from institutions’ exposure to commercial real estate and the impact of lower rates on future performance. The group also discussed how the fundamental environment will impact sentiment among investors and bank boards, the recent rebound in M&A and capital raising activity, and the potential for more deals, including securitizations that help banks derisk their balance sheets. 

     

    Mon, 30 Sep 2024 - 32min
  • 132 - Ep. 130 - How threatened are US banks by the wave of commercial real estate maturities

    Rate hikes by the Federal Reserve and changes in post-pandemic behavior have put pressure on commercial real estate (CRE) borrowers needing to refinance loans coming due. The tally is nothing to sneeze at, with approximately $950 billion in CRE mortgages set to mature in 2024, according to S&P Global Market Intelligence's analysis of nationwide property records. In the episode, S&P Global Market Intelligence analysts Tom Mason, Chris Hudgins and Zain Tariq discuss the threat of maturing CRE mortgages and what portion of those loans are in the troubled office sector. The trio also outlined differences in valuations across different CRE categories, the potential read through provided by the publicly traded REIT sector, and how banks are managing their CRE exposures and reacting to regulatory and investor scrutiny into the asset class. 

    Wed, 28 Aug 2024 - 27min
  • 131 - Ep. 129 - Investor sees inflection point in bank stocks

    Bank stocks and regional bank stocks in particular have rallied over the last month and there is further room to run, according to Joe Fenech, Chief Investment Officer at GenOpp Capital Management. In the episode, recorded on July 16, Fenech said that sentiment towards bank stocks is improving and that the long bear market in bank stocks ended in May 2023. The investor argued that the recapitalization of New York Community Bancorp earlier in 2024 could serve as the turning point of this investment cycle now that “smart money” has rescued one of the sector’s biggest problems. He also sees net interest margin pressure easing and eventually becoming a tailwind for banks and argued that not all commercial real estate (CRE) loans should be seen as high risk and resulting in sizable losses. He also believes M&A activity will increase, driven by succession issues and the need for scale and technology investment.

    Tue, 23 Jul 2024 - 28min
  • 130 - Ep. 128 - Tales from Top Performers: South Plains Financial, Stellar Bancorp and City Holding Co.

    Tales from Top Performers features conversations with executives at high-performing banks about their view of current issues, and the greatest challenges and opportunities they see ahead. This episode features executives from three of the highest performing banks in the country: Curtis Griffith, chairman and CEO of Lubbock, Texas-based South Plains Financial; Paul Egge, CFO of Houston-based Stellar Bancorp; and Skip Hageboeck, CEO of Charleston, W. Va.-based City Holding Co. The bankers outlined how they've been able to maintain strong deposit franchises in the face of fierce competition, their outlook for loan growth and credit quality, and the greatest challenges and opportunities they see over the next year.  

    Wed, 19 Jun 2024 - 28min
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