Vorys Partner Quoted in Columbus Business First Story Titled "Ohio Banks Primed for M&A Revival?"
Jeff Smith, a partner in the Vorys Columbus office and a member of the corporate group, was quoted in a Columbus Business First story on the possibility of increased bank M&A activity in Ohio in 2014.
The story states:
“ It’s much the same script about conditions for Ohio banks – tight margins, a plodding economy and regulatory jitters are making consolidation attractive, particularly for lenders with under $10 billion in assets. But the prospects for deal making may be rising as recession-battered fundamentals improve and buyers’ and sellers’ expectations align, said Jeff Smith, a partner in the corporate practice group at Vorys Sater Seymour and Pease LLP in Columbus.
‘There’s a greater confidence on the part of buyers and the fundamentals of potential targets,’ he said. ‘(Recent) deals were sometimes below book.’
As ripples of the financial crisis fade and losses are accounted for, he said, deals are nearing the range of two times book value – still a far cry from inflated pre-recession metrics.”
To read the entire story, visit the Columbus Business First website. (Subscription may be required).