Public Challenge

Investor road shows aren't as much fun as they used to be.

In the boom years, investors loved publicly traded banks on the Gulf Coast. Loan growth was torrid, borrowers' credit appeared stellar, interest margins were wide and deposits from booming businesses flowed into coffers. Investors clamored for the chance to hear how well banks were performing at investor conferences.

Then came the subprime loan debacle, a slowing economy, bank failures and the threat of a government takeover of mortgage backers Fannie Mae and Freddie Mac. Investors fled the bank sector and pushed bank stocks to decade-low valuations.