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Midwest sees 86 M&A deals among banks and thrifts so far in 2014

October 28, 2014
Columbus Business First

The number of banking mergers is picking up nationally and the Midwest is again proving the most-active location, in part because of the sheer number of institutions calling the region home. "We have a lot of banks, with 250 in Ohio in particular," Kate Lynch, director of investment banking for Performance Trust Capital Partners, told me. "It's driven by the number of small institutions or just total number of banks."

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Airline Industry-Related Must-Reads: Delta Air Lines, Inc. (DAL), JetBlue Airways Corporation (JBLU), United Continental Holdings Inc (UAL), American Airlines Group Inc (AAL)

October 27, 2014
Markets Emerging

Major airline stocks closed higher Friday despite New York officials confirmed the state’s first case of the Ebola virus. New York City Mayor Bill de Blasio said Dr. Craig Spencer’s diagnosis did not pose a threat to others. “What moves the market is a surprise or something that’s unexpected or unanticipated, so the fact that there’s an Ebola case is old news,” said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. “For it to be a real story, it has to be way more contagious than we thought.”

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Don't freak out about the Fed

September 15, 2014
CNN Money

Brian Battle, director of trading Performance Trust Capital Partners, said the recent move higher in Treasury yields is more about a return to normalcy than anything else. At 2.6%, yields remain lower than where they started the year. That's a bit of a disconnect since rates often move much higher at a time when the market is expecting the Fed to put on its rate hiking boots soon. In fact, many experts thought bond yields would climb sharply in 2014. The rationale was that bonds were overvalued and investors would dump them in favor of stocks.

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Biggest stock losers hang out at shopping centers

May 20, 2014
MarketWatch.com

Retail stocks have come in for more punishment than the rest. Rightly so, says Brian Battle of Performance Trust.

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US STOCKS-S&P 500 gains after Macy's jumps on strong results

November 13, 2013
Reuters

U.S. stocks rose on Wednesday, with the S&P 500's advance led by Macy's after stronger-than-expected quarterly sales and earnings. Volume was still subdued, with investors looking ahead to Federal Reserve Vice Chair Janet Yellen's appearance on Thursday before the Senate Banking Committee to consider her nomination as Fed chair, replacing Ben Bernanke. "I think Yellen's presentation is the one everyone is anticipating ... This will be our first chance to see her do some Q&A for her theme at the Fed," said Brian Battle, director of trading at Performance Trust Capital in Chicago.

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REFILE-US STOCKS-Wall St edges up in wake of Fed; Exxon a boost

November 13, 2013
Reuters

Thursday's economic data was mixed. A gauge of business activity in the Midwest execeeded expectations in October, while weekly initial jobless claims dipped in the latest week. The Labor Department's October employment report will be an important source of clues about the economy and future Fed action. Until the figures, due Nov. 8, are released "we're going to drift. We need something to send us higher", said Brian Battle, director of trading at Performance Trust Capital.

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Analysis: How to profit from August jobs report

September 6, 2013
USA Today

Inflation isn't here yet, and you'll have a long time to start thinking about it and how it might affect your portfolio. Friday's jobless report said the economy created 169,000 jobs in August, fewer than the 180,000 expected, and the unemployment rate fell to 7.3%, vs. 7.4% the previous month. "The devil's in the details," says Brian Battle, director at Performance Trust Capital Partners in Chicago. "The headline jobless rate declined, but the components are awful. For example, June and July non-farm payrolls were revised sharply downward, betraying far more weakness than the market had anticipated."

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Elwood sues industrial developer over incentives deal

August 25, 2013
Chicago Tribune

CenterPoint Properties likes to provide visitors a bird's-eye view of the $1 billion industrial park it developed that houses a Burlington Northern Santa Fe Railway rail-to-truck transfer facility and half a dozen warehouses. Some 3,800 jobs were created. The view from Elwood Village Hall is quite different. Village President Bill Offerman feels CenterPoint reneged on pledges to build a hotel and restaurants and create upward of 12,000 jobs. The project didn't generate any taxes while it was under construction. So when the developer asked for about $88 million in reimbursements, the village issued TIF notes, basically IOU vouchers, to CenterPoint. The notes paid interest of 10 percent compounded twice a year for 20 years. "Ten percent is really high no matter what we are talking about," said Brian Battle, director of trading at Chicago-based Performance Trust Capital Partners, an investment adviser. Battle said 10 percent was about double the rate of debt issued by some of the highest-rated states like Texas or Virginia.

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Tuesday's Bank Stocks: Banks climb ahead of Jackson Hole

August 20, 2013
SNL Financial

U.S. central bankers are meeting in Jackson Hole this week to discuss monetary policy, leaving investors "tapping their feet" as they await the Fed's decision, said Brian Battle, director at Performance Trust Capital Advisors. For now, all investors can do is wait for minutes from the Federal Open Market Committee's July meeting to be released. "It's all on hold now, and we're in a low-volume environment because it's the end of the summer," Battle said. "We're pretty sure the Fed minutes are going to be a nonevent, but you're never sure until it's released." Battle said there are "nascent" indications that the economy is slightly improving, and data released Tuesday seemed to confirm that.

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Allegiance Closer to IPO After Deal to Buy Houston Rival

August 12, 2013
American Banker

Allegiance Bancshares executives long saw Independence Bank as a potential acquisition target, but what finally prompted the two Houston lenders to pair up? "The Independent IPO really brought a lot of focus in that size range, and the sales pitch is that you could be a part of the next Texas bank to go public," says Daniel Bass, a managing director of Performance Trust Capital Partners, one of the advisors to the $220 million-asset Independence Bank. "It really ignited the banks like Allegiance to try and get to $1.5 billion in assets," a rule of thumb for banks that want to get the market's attention.

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Allegiance acquisition to create $1B bank in Houston

August 5, 2013
Houston Business Journal

Allegiance Bancshares Inc. has agreed to acquire the $220 million-asset Independence Bank, executives told the Houston Business Journal on Monday...the deal gives Allegiance a larger asset base from which to launch another major franchise in the city, said Dan Bass, Houston managing director for Performance Capital Trust Partners LLC. “I think they’re going to be a major player in Houston on a long-term basis,” Bass said. “Once you get to $1 billion (in assets), you’re on the radar screen for people trying to get into Houston. Not that they’d sell, … but the bigger you are, then the more you can spread out the cost and drive the efficiency ratio down.”

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Stocks down off record highs in early trading

August 2, 2013
USA Today

BAfter weaker-than-expected job growth in July announced this morning, the stock market is taking a breather and is trading slightly lower in early trading after hitting record highs Thursday. Brian Battle, director at Performance Trust Capital Partners in Chicago, says the weak jobs number "in no way threaten the Feds description of a weak economy." As a result, Battle's take is that Fed tapering is "further off."

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Illinois unemployment at 9.2 percent for July, above national average

August 2, 2013
ABC7Chicago.com

In Illinois, the unemployment rate is 9.2 percent, while nationally the rate stands at 7.4 percent. Why is it so much higher here? Illinois has the second-highest state unemployment rate in the country. Only Nevada's 9.6 rate is higher. Illinois is a state with too many people looking for work and not enough businesses and public agencies with available jobs. Brian Battle is one of the bosses at Performance Trust, a bond trading company in Chicago. He says fewer businesses are coming or growing to Illinois in fear of rising taxes and gridlocked politics.

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Stocks turn higher, S&P 500 hits fresh high; Yahoo slumps 4%

July 22, 2013
CNBC.com

Stocks shook off their earlier losses to turn slightly higher Monday, lifting the S&P 500 to a fresh intraday high, though a batch of mixed earnings reports and weaker-than-expected existing home sales kept a damper on gains. "The Fed is done talking until next week and we're going to be subject to earnings reports and talk from Congress this week," said Brian Battle, vice president of trading at Performance Trust Capital Partners. "We could be in a holding pattern if the market can resist a selloff, but to propel higher, we need better fundamentals…we're still running on Fed liquidity and the pullback caused by the tapering talk has been reversed in the last two weeks."

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Global stocks near five-year high, yen gains on Japan elections

July 22, 2013
Reuters

The Standard & Poor's 500 stock index hit a record closing high for a third straight session. Data showing a surprise drop in U.S. existing-home sales in June also tempered the initial buying of equities and other risky assets. "I think we're stuck in a range and we're very much at the top of this range," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

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Chicago's bond rating takes a big hit

July 19, 2013
Chicago Tribune

Chicago's bond rating has taken a big hit, suffering the first downgrade in the two-year tenure of Mayor Rahm Emanuel, who was warned by financial analysts of the need to take drastic — even politically daring — actions to get his city's fiscal house in order. "There's no way to sugarcoat this," said Brian Battle, director at Chicago-based Performance Trust Capital Partners, an investment adviser specializing in fixed-income products. "This is bad for Chicago."

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Stocks touch intraday records on Bernanke comments

July 18, 2013
MarketWatch.com

Stocks have resumed their advance, sending the Dow and S&P 500 to new intraday highs. Brian Battle, director of trading at Performance Trust Capital Partners, says "talk of tapering is getting further and further away."

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Prosperity's Zalman Bends His Own Rules in Pricey Deal

July 3, 2013
American Banker

David Zalman dislikes bidding for banks — but he hates losing out on a target he really wants. The chief executive of Prosperity Bancshares (PB) in Houston gave in just a little to snag the oldest independent bank in Texas, FVNB in Victoria, for $380 million in cash and stock this week. The rising stock price is further proof that the market is more interested in price to earnings, says Dan Bass, a managing director at Performance Trust Capital Partners. The deal is priced at 17.7 times FVNB's earnings; Prosperity trades at 16.5 times its earnings. When adjusted for an expected 25% cost savings, the multiple is closer to 11.7, Bass says.

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U.S. Stocks - Wall St extends gains ahead of Friday's payrolls data

July 2, 2013
Reuters

U.S. stocks rose for a second day on Tuesday, helped by strong June car sales, while concerns receded about the Federal Reserve's plans to pare its massive bond-buying program. "We're finally getting a breath of fresh air, some relief, after two weeks of taper drama," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. "I think a lot of leverage is out of the Street, a lot of speculation is out of the market, and I think it's going to be quiet until we get to the unemployment number on Friday."

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Prosperity Bancshares stays in a buying mood

July 1, 2013
Houston Chronicle

Houston's Prosperity Bancshares has been on a merger tear in the past 18 months, announcing seven deals including one on Monday. But the latest - an agreement worth nearly $380 million to buy First Victoria National Bank - has been brewing for years. Dan Bass, managing director of investment banking with Performance Trust, called Prosperity one of the "darlings" of the banking industry right now because of its ability to negotiate deals at a good price and successfully integrate companies. "They are a machine. They are striking while the iron is hot and doing a number of transactions," Bass said of Prosperity. "This is not the biggest deal they have done, but it is a sizable deal. They are starting to see bigger deals now and those move the needle more. They are getting larger quickly."

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Illinois pays the price for ignoring pension crisis

June 25, 2013
The Associated Press

Largely because of its unfunded retirement plans, Illinois has replaced longtime bottom-dweller California as having the lowest credit rating of any state. So when Illinois tries to borrow money, it faces the same problem as the spendthrift cousin: far higher interest rates. "There are investors who won't buy Illinois or bonds with Illinois labels at any price. They just see it as toxic," said Brian Battle, director at Performance Trust Capital Partners, a Chicago-based investment firm. That means the state pays "the biggest penalty by a long, long shot."

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Stocks End Down 1%, Dow Drops 100 in Choppy Session; All S&P Sectors Lower

June 11, 2013
CNBC.com

Stocks finished sharply lower in volatile trading Tuesday after briefly wiping out most of their losses, with all key S&P sectors closing in the red, as the Bank of Japan's latest monetary policy decision disappointed investors. "Everything's driven by interest rates—there's been a lot of back and forth today as a result," said Brian Battle, vice president of trading at Performance Trust Capital Partners.

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Illinois Dinged by Downgrades

June 11, 2013
Wall Street Journal

Legislators in Illinois again failed to pass pension overhaul recently. Last week, both Fitch Ratings and Moody’s Investors Service cut the state’s rating on its general-obligation bonds down a notch because of the state’s inaction. “The Illinois label is radioactive for some investors,” said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago.

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Brian Battle: Fed painted into a corner?

May 22, 2013
MarketWatch.com

As Fed chief Ben Bernanke testifies on Capitol Hill, Brian Battle of Performance Trust Capital Partners joins Jim Asendio for MarketWatch Stock Talk.

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Stocks close flat, S&P 500 briefly hits fresh all-time high; materials lag

May 13, 2013
CNBC

Stocks finished flat in lackluster trading Monday after the S&P 500 briefly touched a new all-time high. "This week, we'll be subject to global headlines more than the economic headlines," said Brian Battle, director and vice president of trading at Performance Trust Capital Partners. "This is more of a pause in the market than a selloff."

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Stocks close flat; S&P briefly hits record high

May 13, 2013
NBCNews.com

Stocks finished flat in lackluster trading Monday after the S&P 500 briefly touched a new all-time high. "This week, we'll be subject to global headlines more than the economic headlines," said Brian Battle, director and vice president of trading at Performance Trust Capital Partners. "This is more of a pause in the market than a sell-off."

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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
RebootIllinois.com

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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'Unknowable' Cyprus outcome worries Wall Street

March 21, 2013
MarketWatch.com

The crisis in Cyprus is finally getting the attention it's due, says Brian Battle of Performance Trust Capital Partners, because of the unprecedented nature of the bailout terms, and because investors don't want to be left exposed before an "unknowable weekend in Europe."

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Stocks retreat: Dow halts 10-day winning streak, but ends positive for 4th straight week

March 15, 2013
CNBC.com

Stocks finished in negative territory Friday, with the Dow snapping a 10-day win streak and the S&P 500 ending shy of its record closing level, following a disappointing consumer sentiment report and as investors started to question whether the recent rally has run out of steam. "We're near the all-time high and you'd have to start betting on a mean reversion," said Brian Battle, vice president of trading at Performance Trust Capital Partners.

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Battle says jobless report bears closer look

March 8, 2013
MarketWatch.com

The headline jobless numbers might look better than they actually are, says Brian Battle of Performance Trust Capital Partners. Battle tells MarketWatch Radio's Joan Doniger this "raging rally" could soon run into a pullback.

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CommunityBank execs discuss merger plans

March 7, 2013
Houston Business Journal

This March — Thursday, to be more precise — bank executives invited me to their office to tell me they planned to combine Vista Bank Texas and CommunityBank of Texas. But this time, richer shareholders weren’t going to ride off into the sunset just yet — it’s expected to be a merger of equals, allowing “everyone to maintain their position” in the bank. In other words, there's no premium. “Frankly, I think there should be more of these (types of deals), but typically egos get in the way,” said Dan Bass, Houston managing director of Performance Trust Capital Partners. “One side or another wants control or wants a premium.” But who knows, Bass said — the deal could spur similar transactions “where they put their egos in check and say, look, this makes a lot of sense. Merger and acquisition multiples aren’t going to get back anytime soon to what we were used to. But if we get to $2 billion, and they do come back, our shareholders are going to benefit from that.”

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Exclusive: Vista Bank, Community Bank set to merge

March 7, 2013
Houston Business Journal

Vista Bank Texas and CommunityBank of Texas have agreed to a merger of equals, creating a $2.3 billion-asset financial institution in coveted, high-growth Houston, executives told the Houston Business Journal on Thursday. The merger would create one of the largest privately owned community banks in the Houston area, making it a tempting acquisition target for out-of-state banks or positioning it to make an initial public offering in future years — it would certainly allow the bank to compete harder against larger local financial entities, said Dan Bass, Houston managing director of Performance Trust Capital Partners. “I think what this tells you is this is not a group of shareholders that is done with banking, packing it in and leaving the industry — this is truly a long-term play of putting two banks together,” Bass said. 

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Patriot Bank, Bank of Houston pass community reinvestment exams

March 6, 2013
Houston Business Journal

Two Houston banks scored "satisfactory" marks on the Federal Deposit Insurance Corp.’s exam on compliance with the Community Reinvesment Act, which purports to measure how well banks serve various segments of the population. But it’s not too difficult — it’s a standard, pre-Dodd Frank compliance test that banks have gone through for several years, said Dan Bass, Houston managing director of Performance Trust Capital Partners LLC. The banks “know the rules as far as what they need to be doing to show that they’re serving all areas of the community, not just the high-net-worth areas,” Bass told me in a quick phone call early Tuesday, adding that the test takes into account a population’s mix of income and geography. “Basically, you define your market share and show that you’re not discriminating against one type of client base.”

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Street has 'crisis fatigue' on looming sequester

February 27, 2013
MarketWatch.com

Stocks have rebounded from Monday's swoon, says Brian Battle of Performance Trust Capital Partners, and the government spending cuts shouldn't be too much of a road block for continued gains. He joins Alisa Parenti for MarketWatch Stock Talk.

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Louisiana banks flock to Houston to generate organic growth

February 22, 2013
Houston Business Journal

In many of Louisiana’s markets, stealing market share is the name of the game, but Houston’s overall economic prosperity means banks in the market can generate organic growth, said Dan Bass, managing director at Performance Trust Capital Partners in Houston. “It’s harder to steal market share than it is to grow in an economy and get your share of the new loans,” Bass said. “It’s good that all these banks are coming here—you’d rather have a bunch of banks coming in than a bunch of banks leaving. I think it bodes well for the future.”

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Quinn delays $500 million borrowing in wake of state's bad credit rating

January 30, 2013
Chicago Tribune

Gov. Pat Quinn's administration delayed Wednesday's planned sale of $500 million in construction bonds, saying a recent credit downgrade because of inaction on government worker pension reform left the market "unsettled." While it's not unheard of for states to delay a bond sale, it is unusual, said Brian Battle, director of Chicago-based Performance Trust Capital Partners. "I think it certainly is a seminal event in Illinois history," Battle said. "Because of our credit rating, we could not sell bonds today. We could have, but we would have gotten hurt, and that's unusual. Now the citizens can see what the cost is for all this dithering in Springfield."

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Illinois Yanks Bond Amid Pension Woes

January 30, 2013
The Wall Street Journal

Illinois took the rare step Wednesday of postponing a bond auction just hours before it was expected to launch, as concerns grew among investors over the state's deep pension hole. "It's the first real market indication that, because of our fiscal condition, we couldn't sell bonds," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago, referring to his home state. His firm had no role in the Illinois bond sale.

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OmniAmerican Heads Class of Ex-Mutuals Ripe for Takeover

January 23, 2013
American Banker

Monday marked three years since the $1.3 billion-asset OmniAmerican (OABC) in Fort Worth, Texas, converted from a mutual savings bank to a stock corporation. Regulations bar converted mutuals from selling themselves during their first three years, and speculation usually heats up as they approach that milestone. "I do know that they don't have the earnings that they should have," says Daniel Bass, a managing director at Performance Trust Capital Partners. "I would assume they are getting talked to, [and] they have such a good footprint in Fort Worth from a buyer's perspective."

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Earnings season gives Street something to go on

January 11, 2013
MarketWatch.com

Brian Battle of Performance Trust Capital Partners is relieved to see the start of earnings season. He tells MarketWatch Radio's Joan Doniger that investors welcome the opportunity to look at solid numbers rather than political drama.

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Set that bar really low for earnings season

January 7, 2013
MarketWatch.com

Investors should have very low expectations for the earnings season. So says Brian Battle, director of trading at Performance Trust Capital Partners. He talks to Larry Kofsky about what to expect this season and Investors should have very low expectations for the earnings season. So says Brian Battle, director of trading at Performance Trust Capital Partners. He talks to Larry Kofsky about what to expect this season and how to prep for the debt ceiling debate in Washington.

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ASEAN Market Preview EAst West, Medco, Petronas, PTTEP, Keppel

January 3, 2013 
LiveTradingNews.com

On New Year’s Day, while the U.S. stock market was closed, Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while avoiding immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on Jan. 1, had been known as the “fiscal cliff.” ” We had three choices: We were going to be off the cliff, we were going to be on the cliff, or we were going to avoid the cliff, and we avoided it,” said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. “There’s a relief rally, some progress because we raised revenue, but I think it’s going to be short-lived because the relief rally today was created by politics, and the next cliff is going to be created by politics.”

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Shares surge with relief after deal ends US cliffhanger

January 2, 2013
The Independent

Congress approved an agreement on Tuesday night to prevent the bulk of the tax hikes and temporarily delay spending cuts set to come into force this month, sending shares higher when traders in London and New York returned to their desks today. "We had three choices: We were going to be off the cliff, we were going to be on the cliff, or we were going to avoid the cliff, and we avoided it," Brian Battle, the director of trading at Performance Trust Capital Partners in Chicago, said. But he warned about the looming challenges, as the debate now shifts to raising the debt ceiling in two months. "I think it's going to be shortlived, because the relief rally today was created by politics, and the next cliff is going to be created by politics."

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Wall Street starts 2013 with a rally on "cliff" agreement

January 2, 2013
Fox Business News

Congress passed a bill to raise taxes on wealthy individuals and families, and preserve certain benefits, while averting immediate austerity measures. The combination of mandatory tax hikes and reduced federal spending, which had been set to go into effect on January 1, had been known as the "fiscal cliff." "We had three choices: We were going to be off the cliff, we we're going to be on the cliff, or we were going to avoid the cliff, and we avoided it," said Brian Battle, director of trading at Performance Trust Capital Partners in Chicago. "There's a relief rally, some progress because we raised revenue, but I think it's going to be short-lived because the relief rally today was created by politics, and the next cliff is going to be created by politics."

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Texas Community Bank’s Q3 Texas ratio among highest in U.S.

December 18, 2012
Houston Business Journal

Texas Community Bank NA, a $235.8 million-asset financial institution based in The Woodlands, had the 30th-highest “Texas ratio” among all U.S. banks in the third quarter, according to an analysis by Charlottesville, Va.-based SNL Financial Inc. "I think they're trying to look at all their options," said Dan Bass, managing director at Performance Trust Capital Partners in Houston. "Regulators these days are giving more leeway if (the bank) is trying to make progress, talking to various investors."

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Community Trust in La. Woos Private Equity with Organic Growth

December 18, 2012
American Banker

Attracting talent has been the key to the Texas operations, which account for $800 million in assets, mostly around Dallas-Fort Worth. The hiring continues; Mills says Preston Moore, a former Encore Bancshares CEO, was just recruited to lead an expansion into Houston. Encore was sold to Cadence Bancorp this year. That's a good sign, says Dan Bass, a managing director of investment banking for Performance Trust Capital Partners. Moore "is obviously very well known in the marketplace," he says.

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