- Leading Experts to Discuss Foreclosure Forecast and Banking Reforms
B. Riley & Co will host a one-day institutional investor conference focused on regional and community banks on August 4, 2009 at Loews Santa Monica Beach Hotel. The conference will include management presentations by approximately one dozen selected banks and will feature two leading experts who will discuss emerging topics effecting banks and bank stocks.
Setting the tone for the conference will be morning keynote Henry Fields, Partner at law firm Morrison & Foerster, where he represents both international and domestic financial institutions. Mr. Fields’ presentation, entitled: “Financial Services Reform: How Will Community Banks Fare?” will be an overview of new and proposed regulations and its effect on community banks.
Mr. Fields has been named one of the world’s leading banking lawyers by the International Financial Law Review, has been named a leading lawyer in the U.S. in Financial Services Regulation and Financial Institutions M&A by Chambers USA, and is one of only four attorneys in California to receive the highest individual rating in banking and finance by Global Counsel 3000 (7th edition).
The conference luncheon keynote will be Dr. Mark Fleming, Chief Economist at First American CoreLogic ™ whose presentation is entitled “The State of the Economy and Housing Market-Is Water Finding its Own Level”. Dr. Fleming will review the state of the economy and housing market today, provide some historical insight into the magnitude of these events and discuss what recovery and might look like and how long it might take.
Nationally recognized as an expert in residential mortgages, Dr. Fleming leads the risk management economics and research team at First American CoreLogic™ the largest provider of advanced property and ownership information in the US. He is responsible for developing collateral and credit risk models through economic analysis and monitoring of real estate and mortgage market trends. Prior to American CoreLogic, Dr. Fleming was with Fannie Mae, where he developed property valuation models designed as part of collateral assessment applications used in mortgage origination, quality control and loss mitigation.
“While a handful of national banks dominate the headlines, regional and community banks represent a significant part of the banking industry,” said Ian Corydon, B. Riley’s Director of Research.
“There are good investment opportunities to be found within those ranks-- well run banks with prudent lending practices that aren’t plagued by the issues facing many of the big national banks.”
“As with our large annual Investor Conference, this sector-specific conference is part of a series B. Riley hosts to provide investors with valuable market intelligence. The overall average return of the stocks which presented at B. Riley’s last annual Investor Conference (March 17, 2009) is 67.4 percent-- compared to 37.6% for the Russell 2000, 22.6% for the S&P 500 and 20.75% for the Dow for the same period,” noted Mr. Corydon.*
B. Riley maintains research coverage on 33 regional banks as part of its Financial Industries Group (FIG), consisting of a dedicated team of analysts, sales, trading and investment banking professionals.
In addition to FIG, its coverage of a broad range of sectors has earned B. Riley top ranking from Integrity Research Associates for returns produced by its research recommendations, year-to-date. The rankings show B. Riley holding the number one spot for “Returns in Basis Points per Day” and “Returns per Correct Call,” at triple and double that of its competitors, respectively.*
For all of 2008, B. Riley took the lead spot in an Integrity report which tracked the performance of research recommendations. B. Riley earned the #1 one spot in three market sectors: Basic Materials, Consumer Services and Financials; taking the most #1 spots of any of the 1,600 research firms rated in the report.*
This conference is sponsored by Business Wire, the official news wire distribution service for B. Riley conferences, Equities Magazine and Vintage Filings.
For more information on this invitation-only conference including registration please contact your B. Riley representative or www.brileyco.com. For sponsorship information, contact Kathy Tran at conference@brileyco.com or 310-966-1444.
For media inquiries and press credentials, please call (818) 904-0500.
ABOUT B. RILEY & CO.
B. Riley & Co provides a full array of investment banking, research, sales and trading services to corporate and institutional clients. Investment banking services include merger and acquisitions services to publicly traded and middle market private companies, initial public offerings, follow-ons and private placements. The firm is recognized for its distinguished Equity and High Yield Research. Its Corporate Governance Advisory Services Group is engaged by both companies and investors to help maximize value for shareholders.Founded in 1997, the firm is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Philadelphia, and New York.It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com.
*Past Performance is not a guarantee of future results.The index returns are provided for purposes of comparison only.There is no correlation between the performance of these indices and the performance of the individual companies who presented at the B. Riley & Co. conference.Further, comparing the performance of the individual securities to these indices may be inappropriate because the indices are more diversified and may be more or less volatile than the individual stocks. Investments may not be suitable for all investors.
Presenting companies as of time of this news release- subject to change:
Beach Business Bank (BBB)
BOFI Holding Inc. (BOFI)
Cathay
General Bancorp (CATY)
Center Financial Corporation (CLFC)
East
West Bancorp Inc. (EWBC)
First California Financial Group, Inc.
(FCAL)
Nara Bancorp Inc. (NARA)
Preferred Bank (PFBC)
Summit
State Bank (SSBI)
Wilshire Bancorp Inc. (WIBC)
Key words:
Regional Bank Stocks
Banking Industry
Bank
Mergers & Acquisitions
Commercial Mortgages
Residential
Mortgages
Foreclosure Forecast
Residential
Foreclosures
Contacts:
Ian Corydon
Director of Research
B. Riley & Co.
icorydon@brileyco.com
310-966-1443
or
Media
Inquiries:
Nevena Orbach
The Orbach Company, Inc.
818-904-0500
nevena@orbachco.com