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Scanning banking industry headlines can be a downright depressing task for some. But there's something to be said for letting the market fix itself.
Coffee Talk's recent discussions with bank executives have keyed on the importance of banks' being able to clean up balance sheets and improve net interest margins to help accelerate lending.
So some value can be found in a posted loss of $423.7 million, as was the case with Synovus Financial Corp.'s third quarter earnings report.
Look at Synovus chairman and CEO Richard Anthony's description of the bank's strategy: “During the quarter, we continued our aggressive approach of charging down and disposing of non-performing assets.”
Aggressive. Charging down. Disposing of.
These words suggest a bank that is done panicking and is executing a strategy to fix its balance sheet.
Of course, losses and failures hardly guarantee a robust recovery. But painting them honestly helps.
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