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Good Match Outweighs Distance in Texas-Iowa Deal

April 25, 2013
American Banker

Triumph Bancorp, a specialty lender in Dallas, announced Wednesday it would acquire National Bancshares, a community banking company in Bettendorf, Iowa. The pairing seems odd on the surface, but each recognized the other has something it needs. The deal highlights how in the current M&A market, there is something for everybody — so long as buyers and sellers come with an open mind. "This goes to show you that opportunistic buys are out there if you're willing to look," says Daniel Bass, managing director at Performance Trust Capital Partners. "This deal makes a lot of sense from both sides."

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Southwest National Bank to buy loans, sell deposits of Nevada sister bank

April 18, 2013
Houston Business Journal

In a bid to refocus its efforts on Texas, the parent company of Houston-based Southwestern National Bank will sell the deposits and branches of a Nevada-based sister bank, CEO Gary Owens told me Thursday. After the Dodd-Frank Act of 2010, sister banks residing in different states have been able to shed separate state charters and operate using a single charter, a cost-saving move that cuts administrative expenses, said Dan Bass, Houston managing partner for Performance Trust Capital Partners.

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Thankful for $10 Million Wasted Each Year: Only in Illinois

April 4, 2013

Great news, Illinois taxpayers! You’ll only be paying an extra $10 million a year for the foreseeable future, thanks to historically low interest rates on bonds like those sold Tuesday to pay for $800 million in road and infrastructure projects. That’s what happens when you have the worst credit rating in the nation, a dubious honor Illinois now holds. As most semi-conscious taxpayers in Illinois know, we earned our rock-bottom credit rating by failing to do anything about our ever-increasing debt to our five statewide public pension systems, which now consume close to one-fourth of our revenue. “They are paying a penalty, but we’re really, really lucky that rates are at all-time historic lows because the penalty doesn’t hurt all that much,” said Brian Battle, director of trading for Performance Trust Capital Partners.

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Independent Bank Group looking for Houston acquisitions

April 3, 2013
Houston Business Journal

A McKinney-based bank is scouting out the Houston market for potential acquisitions. It’s also in the midst of going public, which industry observers say will give it more muscle to scoop up banks. In regulator filings, Independent Bank Group Inc. said it plans to explore the Houston and San Antonio markets for bank deals, believing there are opportunities to buy small banks throughout the state “either because of scale and operational challenges, regulatory pressure, management succession issues or shareholder liquidity needs.” “They’ve been looking around (for Houston bank deals) for a while, but now they (will) have public currency, which should make them a more attractive buyer,” said Dan Bass, Houston managing director at Chicago-based fixed-income services firm Performance Trust Capital Partners LLC.

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Healthcare leads Wall Street higher, S&P record in view

April 2, 2013
The Economic Times

US stocks rose on Tuesday, putting the S&P 500 within striking distance of its all-time intraday high as healthcare stocks surged on prospects of a boost to earnings. The broader market's rise countered Monday's sell-off. Most investors expect moves to be limited this week before Friday's US monthly payrolls report. "We'll just be marking time until then, as people are squaring their positions," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

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Illinois bond sale includes pension penalty

April 2, 2013
The State Journal Register

Illinois sold $800 million worth of bonds Tuesday, two months after postponing a sale in the wake of a state credit downgrade. Brian Battle, director of trading for Performance Trust Capital Partners, said the state was “very fortunate” to be selling the bonds at this time. “They are paying a penalty, but we’re really, really lucky that rates are at all-time historic lows because the penalty doesn’t hurt all that much,” he said.

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