Leaders Gather at Financial Services Symposium
By Peter Chapman, Chief Financial Officer, Great Western Bank
February 24, 2017
By: Peter Chapman
We recently had the opportunity to participate in KBW’s Winter Financial Services symposium in Boca Raton, Florida, which brings together investors and publicly traded companies from across the country.
Nearly 100 banks, Fintech and stock exchange companies participated in the two day investor conference. GWB had strong demand for meetings. I was joined by David Hinderaker, our Head of Investor Relations and Mergers & Acquisitions. Together, we presented to nearly 40 investors and attended 16 meetings over the course of a day and a half. The key theme of the investor meetings was trying to determine what benefits the new Republican administration might bring to the banking sector and GWB specifically.
For GWB the focus was on our recently released December 2016 quarter end results. These were well received by investors, in particular the performance of the stressed Agri credits that were reviewed ahead of December 31, 2016. While the Agri portfolio will be a continued area of focus for investors, there is comfort in the portfolio performing as we have communicated previously. Other positives were the successful integration of Home Federal and our class leading ability to manage expenses.
The overall investor sentiment at the symposium was that it will be an uncertain but certainly more optimistic year ahead for banks. There is a lot of optimism with investors, as we have seen by increases in the GWB stock price move since the election, and over the next 3 – 6 months we will see investors look to see more tangible signs of benefits to the banking sector and GWB’s footprint. The key message GWB wanted to project was to continue to focus on what we can control – keeping costs and credit issues to manageable levels, being disciplined around M&A and keeping to our strategy – to maintain the already strong support from our investors.
For more information visit our Investor Relations site.