The people of tiny Duncan, Ariz., have found creative ways to adapt to life in a banking desert, but their experience augurs a worrisome future for many other rural communities.
Lenders that depend on the Export-Import Bank to back loans to exporters are already seeing business borrowing pick up after Congress reauthorized the agency in December.
Kenneth Lehman, a former banking attorney who acquires large stakes in small banks, will buy BankFlorida, which lost $555,000 through the first nine months of 2019.
The promise of post-closing payments encourages top executives to pursue deals that aren’t necessarily in their self-interest, but investors may eventually raise concerns that the packages are expensive and too focused on the short term.
A fifth of U.S. banks may lack the stock multiples it takes to pursue acquisitions, so they're looking for other ways to improve results and deploy capital.
