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Stock impact report

PNC's Demchak bemoans M&A speculation [Yahoo! Finance]

FB Financial Corporation (FBK) 
Last fb financial corporation earnings: 4/27 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.firstbankonline.com
Company Research Source: Yahoo! Finance
As bank merger-and-acquisition activity swells, PNC CEO Bill Demchak cast doubt this week on the possibility of a large bank deal occurring in the industry in the next couple of years. Even if such a transaction were to come to fruition, Demchak said it would come with a high degree of execution risk. “Some notion that I can do banker math and put two things together and wave a magic wand and actually execute and cause that outcome is a super dangerous notion,” the CEO of the Pittsburgh-based super-regional said Tuesday at the Goldman Sachs U.S. Financial Services Conference “A deal that was the same size as us, or even half the size of us, comes with material execution risk, compliance risk, systems risk, … degrees of complexity in doing operational conversion, personality conflict, dual heads of everything,” he said PNC said in September it would acquire Colorado-based FirstBank for $4.1 billion. But it also signaled it's forging ahead with an organic growth strategy, aimin Show less Read more
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