I have only skimmed it one time, but SBNY sounds positive in the transcript from Barclays Global Financial Services Conference. http://seekingalpha.com/article/4006521-signature-banks-sbny…
It does sound like there could be additional reserves regarding Chicago taxi medallion loans, but NY may be stabilized. Growth also does not sound like a problem. There was also a poll with the audience thinking the share price reduction is an overreaction.
Thanks Pushk,
I understand the risk evaluation by the market better now and more about the teams. I suppose this is the secret of low efficiency number?
I’m not sure crowd sourcing is a correct way to relate to the market.
I liked the explanation of SBNY not overly risking with commercial real estate that’s in their backyard. “we can take the subway”…and be at the property and know the owners and building managers. “It’s not like we’re in Arizona.” I can hear their New York accents as I read.
Joe
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