Investors Savings Bank (ISBC) featured company in The Wall Street Transcript
2011-03-28 22:54:19
Dominick Cama, COO of Investors Savings Bank (ISBC), talked to The Wall Street Transcript about his company. Click here to read the complete interview.
TWST: Please start by briefly telling us the history of Investors Savings Bank.
Mr. Cama: Investors started in 1926 as a traditional savings and loan, making mortgages, providing CDs, offering traditional thrift products. Investors then evolved into a wholesale model - that is, buying mortgage-backed securities and funding those securities with wholesale borrowings from Wall Street. That business model continued for a number of years until 2003, when we decided to change the model from one focused on wholesale activities to one more dependent on retail activities. That meant making more loans and attracting more core deposits. We made the change because we felt the franchise would have more value if it were more retail like. Now we are working with retail customers instead of wholesale sources of business. This gives us an opportunity to expand the franchise and sell more bank products.
Click here to read the complete interview.
W. P. Carey & Co. LLC (WPC) featured company in The Wall Street Transcript
2011-02-09 09:04:13
Trevor P. Bond, President and Chief Executive Officer of W. P. Carey & Co. LLC., talked to The Wall Street Transcript about his company. Click here to read the complete interview.
TWST: Please start with a brief history of W. P. Carey.
Mr. Bond: In business since 1973, W. P. Carey is a global investment manager and leader in the sale-leaseback sector. We have assets under management for third parties of $8.5 billion, and combined with our own portfolio of approximately $1.5 billion, total assets under management are approximately $10 billion. Because our leases are long term, we are well positioned to weather short-term market fluctuations. We are diversified geographically with investments in 17 countries, predominantly the U.S. and Western Europe.Our net lease investing activities are carried out through our Corporate Property Associates (CPA) series of income-generating, non-traded REITs. We are distinguished by the fact that we are the only public company sponsor of non-traded REITs. This forces upon us a philosophy of transparency and disclosure, which enhances the marketing of our CPA funds. Twelve of the CPA REITs have run full cycle. And it is important to note that no full-term investor has ever lost money in the CPA Funds
Click here to read the complete interview.
W. P. Carey & Co. LLC featured company in Wall Street Transcript
2010-02-08 10:49:14
Gordon F. DuGan, President and Chief Executive Officer of W. P. Carey & Co. LLC (WPC), and CEO of its series of Corporate Property Associates (CPA) non-traded REIT funds, talked to the Wall Street Transcript about his company W. P. Carey & Co. LLC. Click here to read the complete interview.TWST: Please give our readers a brief history and overview of the company.Mr. DuGan: W.P. Carey (WPC) is an interesting company in that we have been in existence for a long time. We were founded in 1973; we have a terrific 30-year track record, and we manage approaching $10 billion in assets - and not many people have heard of us. I attribute this to two things. One, we have kept a low profile and just gone about our business, and two, we've done a very good job for our investors of providing predictable income and managing their investments through various cycles. Generally it's either the more spectacular winners in a good market and the more spectacular failures in a bad market that get all the press. We've been somewhere in between, just cranking through and providing steady, attractive returns for investors.
Featured Interview - Mid Penn Bancorp, Inc (MPB)
2009-10-12 10:37:21
Our featured Interview this week is Mid Penn Bancorp, Inc (MPB)The complete interview with Rory G. Ritrievi President and CEO, is now available.
Mid Penn Bancorp, Inc., is the parent company of Mid Penn Bank. Mid Penn Bank is a local, community bank with a strong, stable earnings history which continues to provide solid performance and growth. Large bank mergers continue to disrupt the Capital Region of Pennsylvania, giving small, well-run community banks such as Mid Penn Bank, the opportunity to provide services to a number of dissatisfied retail and business customers.
Bullish and Bearish Takes on Regional Banks
2009-10-09 00:14:19
As part of our Banking Report we conducted a Roundtable Forum with Anthony Polini,Senior Vice President, Financial Services, Raymond James & Associates and Christopher Nolan, Vice President Equity Research, Maxim Group who had some differing views ;Mr. Polini: Like I said before, I've never been more bullish. I've been following the banks since 1985 and in many ways banks are all in the same boat. I think some boats are going to rise a little more over the next three to six months. But we're still looking at the big macro picture. I'm very eager to find out what happened to consumer delinquencies this quarter to see a follow through, if you will, on early signs of positive news on the consumer credit front. The commercial loan losses and NPAs are probably at least six months away from peaking. So we still have a difficult environment. Like I tell people, you can make money walking around in Beverly Hills buying bank stocks and over the next year I think you're going to make a lot of money, but you're not walking in Beverly Hills, you're walking in my old hometown, Flushing.Mr. Nolan: My only "buy"-rated stock is SVB Financial (SIVB), with a price target $44. It's a bank focusing on the technology inventory capital sector and has very little commercial real estate exposure. The company is basically trading at about 1.5 tangible book. The stock has increased by 40% or so since reporting second-quarter earnings. I tend to think that because the stock is not really tied too much to commercial real estate, has a very strong liquidity position, I think credit quality is stabilizing and earnings are positioned to go to outperform peers. That's my only "buy" rating, but I'm favorably disposed to two "hold"-rated stocks. The first is Signature Bank (SBNY), which is a New York-based bank using a private banker model, targeting small and mid-size companies in the New York metropolitan area. It has been an extremely successful core deposit growth story, and it has limited commercial real estate exposure, which really dates back to 2008. So it doesn't really have too much legacy