Investment Firm Realizes Banks' Potential -- 'Climate Is Perfect,' Says Black River Executive
The Commercial Appeal (2007-Current) › September 08, 2008
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Summary
The banking crisis hadn't started a year and a half ago when John Spence, a longtime bank investor , approached Bill Lucado, a Memphis business consultant and former banker, about starting a fund that could buy big chunks of community banks.
Over 25 years, Spence had set up and run three other funds - Spence Ltd., BS Financial and Vulture 5000. The Nashvillian and Lucado thought it was time for another that went beyond mere investing.See the full content of this document
Extract
Investment Firm Realizes Banks' Potential -- 'Climate Is Perfect,' Says Black River Executive
The idea, Lucado said: "Take banks you found doing well or you thought had potential, hold them and not have to trade (their stocks) to realize income."
So they gathered others they knew in the industry - such as Brad Champlin (bradchamp.com) , former executive with the old Leader...See the full content of this document
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