PROVIDENCE – A recent survey shows more than half of banking executives and directors say President Donald Trump has been good for the industry.
Indeed, 58 percent of respondents to the 2018 Bank M&A survey by Bank Director said the first-term president has had a positive impact on banking. Bank Director, an industry information resource firm, said the so-called “Trump bump” likely had something to do with it.
“The ‘Trump bump’ and rising bank valuations experienced earlier this year have likely fueled this sentiment, along with the president’s appointment of regulators that are expected to be more sympathetic to the industry,” according to the company.
The survey, sponsored by Crowe Horwath LLP, asked banking executives and directors a wide range of questions related to personal views and outlooks of the industry. And while bankers largely attribute recent success in the industry to Trump, they’re not crazy about him on a personal level.
“More than half of these bank leaders – 54 percent – indicate they are personally dissatisfied with Donald Trump’s ability to do his job as the country’s chief executive,” according to the survey.
Bank Director surveyed 198 CEOs, senior executives and board members of banks from throughout the country. The survey focused on the U.S. economy and the mergers and acquisitions environment.
“While many banks and their boards seek growth through acquisition, it is important to note that investors continue to value efficiency and profitability,” said Al Dominick, Bank Director CEO.
About 55 percent of respondents said their institution would likely purchase another bank by the end of next year. Fewer, about 7 percent, said they were likely to acquire a fintech company. The full survey results can be found HERE.
Bank Director is headquartered in Brentwood, Tenn.
Eli Sherman is a PBN staff writer. Email him at Sherman@PBN.com, or follow him on Twitter @Eli_Sherman.
