Good post gg. In addition, the bank has diversified its revenue streams - doing much more cross selling and taking major market share from community banks - 6/8/12 wsj - "Small banks have been on the retreat for decades. The share of industry assets controlled by lenders with $1 billion or less in assets has fallen to a recent 10% from 31% in 1992, according to Federal Deposit Insurance Corp. data. Smaller banks had a lower return on assets, 1.22% for the first quarter, compared with 1.52% for those with more than $1 billion in assets, the FDIC data show."
I live in south carolina. My representatives - Tim Scott and Jim DeMint keep on talking about how increased regulation have stymied the housing recovery - banks will not make loans to home builders.
Nothing could be further from the truth. Adc loans are simply not financially justified.
I get a kick out of Tim Scott. Six weeks ago he was pumping gas at an exxon station west of the ashley telling his constituents that gas was going to $5 gallon and Obama has no energy policy. He should have been well aware at that time that gas demand was down by 5% while US production was up 6%. These stats were available to Tim Scott via US Energy Dep't but he was too busy bashing obama. Also oil/gas rigs have quadrupled since 09. Best energy policy is America is free market capitalism.
I wish I could take Tim Scott to the wood shed. Irony is that he criticizes europe but his policies would kill our economy.