Dodd-Frank harder on smal, mid-cap banks, CEO says
Peyton Patterson, due to become the next CEO at BNC Financial Group, says Dodd-Frank is likely to have a more adverse effect on the nation’s smaller banks, as opposed to larger institutions.
“I think the impact of Dodd-Frank will most likely be seen in terms of the much higher costs and regulatory burdens at smaller and mid-cap banks that don’t have enough capital; (and that) may not survive. And that’s not necessarily a good thing,” Patterson said in an interview with Westfair last week.
BNC Financial Group manages approximately $505 million in assets, and generated $2.2 million in net income in its 2011 fiscal year.