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Bank of Marin Bancorp Message Board

  • pvbud pvbud Aug 6, 2005 12:27 PM Flag

    Exec Management

    I note that our bank has a new CEO, Mr. Colombo. A former San Francisco banker, he may think he's in heaven without the commute. There is no business event more important in my mind than the selection of executive management and it appears that Mr. Columbo has the confidence of the Bank of Marin Board. If the Board is correct in its judgement of Mr. Columbo, this bank is well situated, in prosperous Marin County, to achieve great economics in the future as in the past.

    However, my experience is that banks have greater opportunity to cover their mistakes when interest rates fall than when they rise. With a national election on the horizon and the likely event that the Fed will continue to increase the discount rate, we might make our investment selections with more care than usual. Never will I forget that during the 80's, interest rates went to 21 pecent and many banks, including Chemical Bank of NY (sold at $10) and Bank of America (sold at $8) found themselves in serious difficulty.

    While these purchase opportunities present themselves only once or twice in a lifetime, I'm reminding myself to keep it "cool" for economies usually don't move from "good" to "superb". For now I'm content with the wonders of TMCV, and BMRC, and a few others. Good wishes,,,


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