Most of the many merger and acquisition strategies discussed during the Bank Holding Company Association’s Fall Seminar, “Buy, Sell or Hold: Strategies for Success,” sounded familiar to Lynn Fuller.
The president and CEO of Heartland Financial, Dubuque, Iowa, has made acquisitions a habit for more than three decades. Fuller described Heartland’s growth from less than $200 million in assets to $8.2 billion during one of the general session presentations at the seminar held at the Hyatt Regency hotel, Bloomington, Minn., Oct. 2-3.
“I said to my father, ‘We better giddy up or get out,’” Fuller said. “Our goal back then was to get into the top 100 banks. Today, we’re somewhere between 90 and 80, depending on how our positions go. … Starting from less than $200 million, you can imagine that was a long haul.”
The Federal Reserve Bank of Chicago gave Fuller the push he needed to pursue acquisitions when it predicted massive consolidation coming. [Continue]