According to Barrons’ Sterne Agee, conversations with bank
managements and directors suggest that some thawing has occurred in the stalemate
between buyers and sellers, as sellers' boards of directors have become more
accepting that difficult conditions are likely to persist.
In an unrelated matter, some of the strongest-performing
stocks in the bank-stock rally over the past year have included the shares of
issuers that have been able to recapture valuation allowances on deferred-tax
assets (e.g., Pinnacle Financial Partners, Citizens Republic Bancorp, West
Coast Bancorp and Taylor Capital Group, among others). Going forward, potential
winners could include ...
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