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Summary
The liquidity crunch that emerged in March put a far greater premium on deposits and forced many banks to rely on higher-cost funding sources such as certificates of deposits (CDs) and borrowings from the Federal Home Loan Banks. Those liquidity pressures have persisted along with further rate hikes by the Federal Reserve, suggesting that banks’ net interest margins likely peaked in the first quarter. Banks are responding to those headwinds by preserving liquidity, slowing loan growth and building reserves ahead of any potential downturn in the economy. Taken together, the greater caution will take bite out of banks’ earnings in 2023 and could change strategic approaches later in the year.
During this webinar, Nathan Stovall, Director of FIG Research, will present his outlook for the banking industry in the second half of 2023 and discuss highlights from banks’ second-quarter earnings season. Sr. Analyst David Hayes will also review the results of S&P Global Market Intelligence's recent quarterly survey of banking clients, which lend further insight into the current operating environment and outlook for U.S. Commercial Banks.
Speakers
S&P Global Market Intelligence
Nathan Stovall
S&P Global Market Intelligence
Director of FIG Research
Nathan Stovall, with 17 years' experience covering the banking sector, is a principal analyst for the FIG Research offering of S&P Global Market Intelligence. His primary responsibilities include covering and analyzing financial institutions, with a focus on the banking industry.
He is the author of the banking blog, Street Talk, and host of the podcast by the same name. His in-depth analysis of the banking industry, including a focus on community banks, can be found on SPGMI's Research & Analysis feature, which includes historical and forward-looking performance figures.
During his tenure, he has regularly covered and participated on the conference circuit, moderating panels and webinars focused on major issues facing banks. He has spoken as industry events as well, offering updates on bank fundamentals, market conditions and forecasts for what lies ahead. He has been quoted in a number of trade publications and the national press, including The Wall Street Journal, The New York Times, The Financial Times and has appeared on Fox Business News and NPR's Planet Money.
Nathan holds a Bachelor of Arts degrees from Washington & Lee University, where he majored in business journalism
S&P Global Market Intelligence
David Hayes
S&P Global Market Intelligence
Assistant Research Manager
David Hayes is an assistant research manager on S&P Global Market Intelligence's financial institutions research team, which is responsible for data-driven news and research focused on banks, insurers and fintechs.
David Hayes is an assistant research manager on S&P Global Market Intelligence's financial institutions research team, which is responsible for data-driven news and research focused on banks, insurers and fintechs. David leads the global financial institutions research team with a focus on European and Asia-Pacific banks. Previously, he covered the U.S. banking sector for 12 years.
David holds a B.A. in financial economics from Bethany College and an M.B.A. from Marshall University.
Moderator
S&P Global Market Intelligence
Will Retzer
S&P Global Market Intelligence
Sellside Business Development Lead
Will Retzer is the US Commercial Banks Solutions lead on the S&P Global Market Intelligence Cross Product Market Development team.
He has nearly 20 years of experience within the firm as an analyst, advisor, ambassador, and educator with deep knowledge of the SNL Bank & Insurance datasets, CIQ & CIQ Pro, Sustainability, and Credit Risk Solutions. Will is also a Certified Public Accountant licensed in the state of Virginia.
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