In The News

• January 25, 2012
  "Banking Slump Stings PE Investors"
  American Banker
  Christopher J. Zinski
  Schiff Hardin partner Chris Zinski is quoted in this article about the state of private equity investment in failed and open banks. Mr. Zinski, leader of the firm's Financial Institutions Group, comments that exit strategies for investors are not as clear cut as they used to be prior to the financial crisis.
• January 20, 2012
  "Managing the Board and CEO Relationship During Times of Stress"
  Bankdirector.com
  Christopher J. Zinski
  Schiff Hardin partner Chris Zinski co-authored this article for the Web site of Bank Director magazine. The piece describes guidelines for bank directors and CEOs struggling to manage their institutions in a historically challenging credit environment.
• December 14, 2011
  "Despite Lull, Still More Failures Loom in 2012"
  American Banker
  Lorraine M. Buerger
  This article about bank failure forecasts quotes Schiff Hardin associate Lori Buerger. Ms. Buerger, who practices in the firm's Financial Institutions Group, comments on the phenomenon of smaller, first-time buyers acquiring failed banks without FDIC loss-share involvement.
• September 19, 2011
  "Veterans Look to Crowded Chicago Buyout Market"
  American Banker
  Lorraine M. Buerger
  This item notes the prevalence of FDIC-assisted acquisitions of failed banks by other banks in the Chicagoland area. Schiff Hardin associate Lori Buerger, who focuses her practice on financial institutions and related regulation, is quoted regarding potential bidders' views of the market.
• August 10, 2011
  "Las Vegas Entrepreneur Returns to Banking Scene"
  American Banker
  Christopher J. Zinski
  This article about Las Vegas businessman Jason Awad and his plans to acquire local banks quotes Schiff Hardin partner Chris Zinksi. Mr. Zinksi, who focuses on counseling financial institutions, notes that entrepreneurs can be attracted to banks due to their currently low valuations and growth potential.
• August 1, 2011
  "Capital steps: a challenging climb"
  Crain's Chicago Business
  Peter L. Rossiter
  Schiff Hardin's Peter Rossiter, a partner focusing on financial institutions in the firm's Chicago office, is quoted in this article about banks' difficulties in raising capital. Mr. Rossiter notes how hard it is for owners of small banks to accept lower valuations of their holdings.
• July 7, 2011
  'Consent Order Fall Not Exactly Positive'
  American Banker
  Christopher J. Zinski
  This article about the declining number of consent orders being issued to banks by the FDIC quotes Schiff Hardin partner Chris Zinski. Mr. Zinski, who focuses his practice on financial institutions, points out that while some observers see the decline as a positive sign, the FDIC might be managing its resources for further enforcement actions.
• June 16, 2011
  'Poor Returns Stymie Chicago M&A'
  American Banker
  Christopher J. Zinski
  Schiff Hardin partner Chris Zinski is quoted in this article about the lagging bank M&A market in the Chicago area. Mr. Zinski, who focuses on financial institutions, cites banks' general credit quality skepticism and continuing preference for failed bank acquisitions as factors contributing to the sluggishness.
• May 16, 2011
  'Schiff Hardin team predicts more bank failures in 2011'
  Chicago Daily Law Bulletin
  Lorraine M. Buerger, Matthew Galo, Peter L. Rossiter
  In this article, members of Schiff Hardin’s Financial Institutions Group comment on 2011 trends in FDIC-assisted acquisitions of failed banks.  From their 'in-the-ring' vantage point, they note the unique and evolving nature of these transactions, as well as the historical context and competitive imperatives to understanding these deals.
• March 22, 2011
  'Failed-Bank Buyers Take Solo Route'
  American Banker
  Lorraine M. Buerger
  Schiff Hardin associate Lori Buerger is quoted in this article about the increasing number of failed bank acquisitions going forward without FDIC loss-share involvement. Ms. Buerger comments that, for smaller failed bank targets, thorough diligence reviews can result in assuming banks proceeding without relying on loss-share as a safety net.
• February 22, 2011
  'FDIC and Bank Failures'
  First Business
  Lorraine M. Buerger
  Schiff Hardin associate Lori Buerger was interviewed on this syndicated business news television program regarding hundreds of bank failures forecast to occur in the coming year.
• January 6, 2011
  'A Lesson in AmWest's Bankruptcy'
  American Banker
  Christopher J. Zinski
  Schiff Hardin partner Chris Zinski, of the firm's Financial Institutions group, is quoted in this piece on financial institutions going into bankruptcy. Mr. Zinksi comments on bankruptcy as a strategy for banks struggling with debtholders who may otherwise block their efforts at recapitalization.
• October 21, 2010
  'Debtholders Stall Capitol Bancorp's Recap Efforts'
  American Banker
  Christopher J. Zinski
  Schiff Hardin partner Chris Zinksi is quoted in this article about Capitol Bancorp's efforts to convert portions of its debt into common stock in an attempt at recapitalization.
• July 20, 2010
  'Well-Heeled Buyers Turn Up Heat in Southeast'
  American Banker
  Christopher J. Zinski
  Chris Zinski, a partner in Schiff Hardin's Financial Institutions Group, is quoted in this article about private equity firms bidding up prices for failed banks.
• July 1, 2010
  'The Rise of the Unstructured Transaction'
  Distressed Assets Investor
  Christine A. McGuinness
  Christine McGuinness, coordinating partner of Schiff Hardin's New York office, is quoted in this article about the purchase of loan portfolios by private investors. Ms. McGuinness points out possible advantages of investors teaming with banks to bid on failed financial institutions.
• April 29, 2010
  'Law firm hosts online discussion about FDIC-assisted acquisitions'
  Chicago Daily Law Bulletin
  Matthew Galo, Christopher J. Zinski
  On April 28, Schiff Hardin hosted the webinar 'FDIC-Assisted Transactions: The Rules Have Changed,' which was profiled by the Chicago Daily Law Bulletin. Partners Chris Zinski and Matt Galo from Schiff Hardin's Financial Institutions Group, both of whom are very active in FDIC-assisted deals, led the discussion along with Al Laufenberg, Managing Director at Stifel Nicolaus, and Brant Ahrens, Chief Operating Officer of The PrivateBank.
• April 23, 2010
  Packaging Failed Banks Can Stymie Small Buyers
  American Banker
  Christopher J. Zinski
  In this article, Schiff Hardin partner Chris Zinksi offers his comments on the 'linked bid' strategy being used by the FDIC to sell groups of failed banks to financial institutions; the practice can put smaller bidders at a competitive disadvantage as they seek to grow through acquisition.
• April 8, 2010
  'Turnaround Time: Are You Ready?'
  American Banker
  Christopher J. Zinski
  Schiff Hardin partner and leader of the firm's Financial Institutions Group Chris Zinksi writes in the American Banker about the need for bank management teams to develop detailed, robust turnaround plans.