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    Michael Perito

    Managing Director and former Senior Equity Research Analyst at Keefe, Bruyette & Woods

    Michael Perito is a Managing Director and former Senior Equity Research Analyst at Keefe, Bruyette & Woods, specializing in banks and financial technology with a focus on fintech-enabled and regional banks. He has covered more than 30 companies including Pathward Financial, S&T Bancorp, OceanFirst Financial, Peoples Bancorp, CB Financial Services, and Tompkins Financial, and has been recognized for his leadership in bank-technology research and strategic planning within the financial services sector. Having begun his career nearly 15 years ago, Perito previously founded the bank consulting practice at The Travillian Group and now serves as Senior Vice President and Head of Corporate Strategy at Provident Bank. His credentials include significant experience in equity research, corporate development, and digital strategy, though specific securities licenses or FINRA registrations are not publicly listed.

    Michael Perito's questions to CB Financial Services (CBFV) leadership

    Michael Perito's questions to CB Financial Services (CBFV) leadership • Q3 2017

    Question

    Michael Perito from Keefe, Bruyette & Woods inquired about the pro forma financial model, asking about the source of the projected $155 million in loan growth, the timeline to mitigate net interest margin dilution, plans for the investment portfolio, the target capital level, and the strategy to improve the return on assets (ROA).

    Answer

    President Pat O'Brien explained that the loan growth would be driven by deploying the acquired low-cost deposits into CBFV's core markets, particularly Pittsburgh. CFO Kevin Lemley added that mitigating the margin impact would be a gradual 2-3 year process. CEO Barron McCune noted they will seek opportunities to restructure the investment portfolio post-closing. Pat O'Brien also stated that while the pro forma 8.1% TCE ratio is lower than historical levels, it is acceptable, and that improving ROA above 90 basis points will depend on redeploying funds and growing fee income.

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