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Union Planters Corp. (UPC) Message Board

  • sebanks sebanks Sep 2, 1998 3:53 PM Flag

    More & more

    analysis are directing attention to the finanical
    sector. Saying it is the most over sold. The baby in the
    bath water!
    I would like to hear everyones
    perspective on mergers. I have been somewhat surprised in the
    low volume thereof. TN & Al have seem virtually NO
    consolidation. AR seems to have had the most. LA and MS still
    lagging in the merger area. I would have though that
    things would have moved at a faster pace. These
    mid-south states may not have the high growth rate
    expections, but it has always being my impression that the
    banks in this area were very profitable solid
    institutions. I would have though that in LA, HIB & WTNY would
    be gone, as well as TRMK & BXS in MS. FAM seems to
    be the most vulnerable. Expect ONE to take UPC after
    FCN. Keep expecting to hear at anytime RGBK's next
    move(TRMK). SOTR has really been absent.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • I appreciate your response to Obee's
      post.

      I once voted my proxy against a merger with UPC,
      not because of concern for any individual, but for
      the community. You were personally hurt by such a
      merger and so was the community of my concern.

      I
      was immediately enriched by the merger (much, much
      less so now) and don't want to belabor the point, but
      this subject does matter in assessing UPC's
      future.

      I have no reason to disbelieve Obee's relation of
      the "Duck Hill" situation, nor your earlier one.
      Since you infer that you may have been mistaken, I
      would appreciate your checking of the facts and
      reporting to the board.

      God Bless

    • Your advice is right on the money. That very
      reason is why I, just 3 months ago, left banking after
      12 years. I had been through one merger and the bank
      I was working for seemed to be headed for the same
      fate in the near future. I don't want to discourage
      anyone from going into banking, but they better have
      their eyes open.

      Red

    • Wish I could figure out who you are. I have my
      suspicions but I'm not positive. I think you maybe somebody
      I used to work with quite a bit. You speak like an
      insider of which I am not any more. If you are from the
      Grenada area then you probably have figured out who I am.
      The last info. I got on the situation was different
      from your post. But, things may have changed, I may
      have been misinformed. Since I don't live in Grenada
      any more I have to rely on other folks for my info.
      In response to your post of new business for Duck
      Hill I have my doubts. But, I will admit to being
      biased against UP.
      Hard not to be when you're
      uprooted from your hometown after 32 years. Anybody that
      says 'thats just business' should have to go through
      it one time.
      OK guys I've said my piece. Now I
      will move on to talking about the prospects of this
      bank.

      Red

    • Employees at Duck Hill Bank were not
      involuntarily replaced, down-graded,nor suffered any pay cut.
      Hours were lengthened somewhat to make 40 per week.
      Grenada UP loaned Duck Hill one of their employees at
      each office for two weeks, to help them learn
      procedures. In fact an additional employee is being hired to
      assist with the immediate increase of business from UP
      customers in the area. The Branch Manager has not been
      replaced. UP promoted her to Vice-President and Branch
      Manager. The new faces there are the temporary assistance
      from Grenada UP and a new teller picked and hired by
      Duck Hill management.

      Enjoy your posts,
      Red.

      God Bless all! OBee

    • but a lot still going on in the company. UPC at
      $43 yields a 10.5% net income return on investment in
      1999. UPC is still catching up on the consolidating
      end, but they will get there. That is probably why you
      are reading the painful stories about mergers. Maybe
      the reason for the quick rash of small purchases is
      they want to take advantage of their reputation as a
      somewhat "friendly" acquiror before many of the stories
      such as Red's are prevalent. UPC used to have the old
      Bank One "uncommon bond" type philosophy, but it seems
      to be changing.

      My advise to people who are
      in or are entering banking would be to gain all of
      the knowledge that you can in as many fields as you
      can and be ready to be mobile. This industry will
      continue to consolidate and if you are a back office type,
      opportunities may not be in your back door. You might also
      consider investing as much as you can in your bank's
      stock, that way you win either way. Good luck to all, do
      try to have a good attitude, and remember that it is
      not the fault of UPC management that the
      consolidation is taking place. They are doing exactly what they
      should be doing because it is their company now and they
      have a duty to make it as lean as they can. If you are
      an owner and/or an executive of a bank considering
      selling, you should take heed. Remember that when you sign
      the deal, who decides what happens to the staffing
      levels and the communities that you serve has forever
      changed hands the moment you sign.

      Ken, I was just
      trying to change the luck of the market by staying off
      the net a few days. Next time I think I should try
      something else, huh?

    • Ken:
      You are right on about the loss of the
      "local" feel. It looks like the UPC/MAGNA Banks in our
      area are really losing the customers. I have een
      little or no advertising and the new signs just went up.
      I know that the staff has to be trimmed and that
      you have to be efficient in this day and age. the
      margin of profit is very slim in the financial services
      area and the thin see to win. It is funny to watch
      people leave a bank and for a $1.00 per month charge on
      their ATM card, but it happens.
      Feel pretty good
      about the market. I am looking at a few "bargain" and
      am going add some additional "quality" to the
      protfolio. I like a company like Lucent (LU) again, had been
      a buyer a year ago and it looks like it is time
      again.
      The overall market a bargain and I see it
      staying that way for a while, just going to take time.

      Have a great weekend!!
      Mac

    • You're probably right about the comparison. And
      don't get me wrong, I understand that job loss is part
      of mergers, I was just presenting to Pickle what had
      happened in the past.
      FYI, Duck Hill Bank is a small
      two branch bank located in Duck Hill, MS about 12
      miles south of Grenada. This bank has been around
      forever. It was the only bank my parents, grandparents,
      and great grandparents had ever used until UP bought
      them. They immediately moved their money to Valley Bank
      out of Greenwood. I, for the life of me, can not
      figure out the thinking on this buyout. The only thing I
      can come up with is one of the major stockholders in
      Sunburst had enough pull with UP board to get this done.
      Also, unfortunately, I have a cousin who has worked all
      her life with Duck Hill, had made it to a branch
      manager position and now UP is bringing someone else in.
      All people I know but still does not make it right.
      OK, I'm getting off my soap box.

      Red

    • If your banks management is solid and mature
      you've got no problem. Attrition will take care of
      nearly all cutbacks unless you were grossly overstaffed
      in the first place. The customer's perception should
      be very positive if handles properly locally. Our
      back in AR is doing well, as it did before, and I'd
      expect that to continue, it's been a few years now and
      UPC is a household name.
      The employees locally
      and how they handle customers and explain the
      inevitable changes are what makes a Community Bank, not the
      sign out front!!! Meet the change positively and
      you'll like the results.

      • 1 Reply to sharpandwise
      • Obviously your experience was much different than
        mine. Sunburst bank had excellent management and most
        were not kept on. I'm not saying it was hostile but it
        was clear that UP was not interested in keeping many
        people. I tried to meet the change positively and I ended
        up without a job. The branch personnel was kept
        basically intact but I still here from the customers that
        UP is just not very customer oriented. I've heard
        that since the merger was announced over 3 years ago.
        And I definitely know that the loss of jobs was
        signigicant regardless of how mature or solid the staff was.
        And we were already running fairly lean. Like I said
        you have one experience with a merger with UP and I
        have another but I don't appreciate the implication
        that the employees were not, as you put it, 'solid and
        mature'. You seem to indicate that it was our abilities
        which resulted in the job loss and that simply is not
        true.

        Red

 

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