BILL DEMCHAK IS PERSONA NON GRATA WITH THE MID-SIZE BANK GROUP: In an interview with Liz Hoffman of Semafor Business, PNC’s Bill Demchak was asked if we have too many banks. His response:
The structure of the banking system today—continued pressure on fees, cost of regulation, cost of technology, fraud and cyber—has caused a big swath of the U.S. banking system, in my view, to be untenable. True community banks, many of them family-owned, I think serve an important purpose and will be around forever. But the midcap banks that were $5 billion balance sheet banks and tried to be heroes and grow to $50 billion find themselves in a really uncomfortable place.
“A really uncomfortable place”? Is that so. Tell this to my friends at Wintrust, Pinnacle Financial, and other successful banks of similar size.
PNC’s Demchak mis-reads a part of the banking sector
By Thomas K. Brown,
BILL DEMCHAK IS PERSONA NON GRATA WITH THE MID-SIZE BANK GROUP: In an interview with Liz Hoffman of Semafor Business, PNC’s Bill Demchak was asked if we have too many banks. His response:
“A really uncomfortable place”? Is that so. Tell this to my friends at Wintrust, Pinnacle Financial, and other successful banks of similar size.