Recorded May 26, 2011

90 minutes 

Presented in collaboration with Crowe Horwath LLP

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Overview

From 2009 through 2010, there were nearly 300 whole bank/thrift acquisitions and 262 FDIC assisted transactions. Acquirers have found the subtle nuances of business combination accounting to be more complicated than in typical years because of the treatment of purchased credit-impaired loans and the FDIC's loss sharing and clawback agreements. Additionally, system limitations have made the continuing accounting adjustments particularly challenging.

Don't let "Day 2" issues take you by surprise. Our panel of accounting and finance experts will tell you what to look out for.

Agenda

Learning Objectives

Panelists

Rick Childs, CFA, CPA – Director, Financial Institutions, Crowe Horwath LLP

Rick Childs is a director in the Financial Institutions practice with Crowe Horwath LLP. His primary responsibilities include overseeing the delivery of transaction and valuation services to Crowe's financial institutions clientele.

Rick is a frequent presenter for both national and state professional organizations including the AICPA and Financial Managers Society. He has published articles on mergers and acquisitions in the ABA's Commercial Insights, Community Banker, Bank Director and Bank Accounting & Finance. In his role overseeing the delivery of transaction services, he has provided consulting advice including financial institution merger and acquisition analysis, corporate finance issues, regulatory issues, risk-based capital guidelines, strategic planning and business performance measurement, including evaluation of pricing, structuring, regulatory issues, and due diligence issues.

He also advises financial institutions in acquiring either whole or partial failed banks from the FDIC and has assisted numerous investor groups in the formation of de novo banks and de novo trust companies.

Sydney Garmong, CPA – Partner, Financial Institutions, Crowe Horwath LLP

In her role as Partner in the Financial Institutions practice with Crowe Horwath, Sidney's primary responsibility is to address accounting and regulatory issues affecting financial institutions. Sydney provides technical updates on behalf of Crowe and other publications, including Bank Accounting & Finance.

She is a member of the American Institute of Certified Public Accountants (AICPA) Depository Institutions Expert Panel which maintains an ongoing liaison with various regulatory and standard setting agencies that impact financial institutions and include the federal bank regulators, the SEC and the FASB.

In addition to addressing technical issues, Sydney is a frequent speaker at industry and regulatory conferences, including the AICPA's National Conference on Banks and Savings Institutions. Sydney also serves on the Financial Managers Society (FMS) Board of Directors and is the chair of FMS's Accounting Council which helps shape the direction of FMS in the area of accounting issues.

Prior to joining Crowe Horwath, she was a senior manager at the AICPA in Washington, DC. During her three years with the AICPA, she addressed financial institution and financial instrument accounting, auditing and regulatory matters.

Mac Hodgson, CFA – Director of Research, SunTrust Robinson Humphrey

Mac Hodgson is a Director in SunTrust Robinson Humphrey's Equity Research Department. Mac covers financial institutions in select Northeast, Midwest and Southeast markets.

Prior to joining the research department in 2007, he spent over three years in the Financial Services & Technology Group of the firm's Corporate and Investment Bank. In that capacity, Mac covered financial institutions in select Southeastern and Mid-Atlantic states.

Mac is a CFA Charterholder and a member of the CFA Institute and Atlanta Society of Financial Analysts. He received his Bachelor of Science in Business from Wake Forest University.

Shawn Ryan, CFA (moderator) Director, SNL Center for Financial Education

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