How to Work With Outspoken Investors

We're seeing more banks look to cooperate with activists rather than fight them. Strategist Andrew Wilson shares some tips on how to make things collaborative.

Happy Monday, Bank Slaters!

I hope each of you had a great weekend. One more month left in the first quarter — crazy that we’re already two months into 2024.

Programming note: I’m OOO this week. Don’t worry — I won’t leave you high and dry. We’ll have a great Q&A next week with Ilaria Rawlins, CEO of the proposed Fortuna Bank in Ohio, which recently secured conditional FDIC approval. The newsletter will be a bit thinner while I take some much-needed time off before conferences ramp up.

Let’s talk about working with activist investors.

The news that a securities purchase agreement between Republic First Bancorp in Philadelphia and an activist investor group fell through reminded me that proxy season and annual meetings are nearing.

We’ve been tracking a smattering of proxy battles, most notably Driver Management’s plan to have Keith Mestrich, retired Amalgamated Financial CEO, vie for a board seat at AmeriServ Financial in Pennsylvania.