Bank Financial Valuation by not14495


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									Bank and Thrift
    A hands-on seminar devoted exclusively to
               valuation in the banking sector.

                        November 10-11, 2008
                Downtown Conference Center
                                 New York, NY

              SNLCenter for Financial Education
                                                                                    (434) 951-7786
Past Participating
Companies:              Overview
Ascential Equity        Welcome to an intensive, in-depth program that uses lectures, case studies
AQR Capital
Management, LLC         and hands-on modeling to teach the intricacies of valuing banking institutions.
Baltimore Capital
Bank Resources          Addressing both the art and the science of valuation in banking sector, the
Barclays Capital
                        program provides attendees with the foundation and methodologies they
Belvedere Capital
Partners, LLC           can use in analyzing equities, as well as transactions.
Boston Consulting
Booz, Allen &         What you’ll take away
                        How to forecast operating results
Boston Consulting
Group                   An understanding of valuation techniques, including trading-comparables,
Capital One
                        comparable transactions and discounted cash flow approaches
CEO Advisory Group
Charter Financial       Hands-on experience using an Excel-based discounted cash flow model
CIBC World Markets
                        An improved grasp of the key ratios used to assess a bank’s worth
Corp.                   The ability to assess a bank’s worth from both a stand-alone and an M&A perspective
Columbia Business
                      Who should attend
Management Group        Investment banking analysts and associates
Cornell University
                        Buy- and sell-side sector analysts
Credit Suisse
D.A. Davidson & Co.     Corporate development and investor relations professionals at banks and thrifts
                        Consultants and accountants who provide advisory services to financial institutions
Diamond Hill
Investment Group        Industry regulators
Duff & Phelps
DuPont Capital        Prerequisites:
                      This program presumes familiarity with basic bank and finance concepts, as well as a
Endeavour Capital     working knowledge of financial institutions’ income statements and balance sheets.
                      Because the program features hands-on Excel modeling, participants will need to bring
Federal Home Loan
Bank of Atlanta       a laptop equipped with Microsoft Excel. A limited number of laptops will be available
Federal Home Loan     for an additional fee should a participant be unable to bring one.
Bank of NY
Federal Reserve
Bank of New York
                      Instructor: Jon Walls
Fidelity              Jon is a former Senior Vice President of investment banking at Lehman Brothers in its
Management &          Financial Institutions Group. He has extensive expertise in M&A, as well as debt and
Research Company
FIG Partners, LLC     equity financing, and brings an in-depth understanding of valuing, structuring,
First Community       negotiating and executing complex transactions for financial institutions. Most recently,
                      Jon served as Chief Investment Officer and acting Chief Financial Officer for a mid-sized
First Federal
Bankshares            California-based mortgage lender. Jon has also held senior positions with two private
Fox Asset             equity groups, and has taught as an adjunct professor at the University of California
                      at Irvine.
First National Bank
of Omaha
First Southwest Co.   Guest Instructor: Bradley J. Ness
Fox-Pitt Kelton
                      Chief Executive Officer and Portfolio Manager, Choral Capital Management, LLC
Frontier Investment
Management                Day One
FTN Financial             Registration with continental breakfast opens at 8 a.m. Program begins at 8:30 a.m.
Securities Corporation
Goldman Sachs             Overview of Bank and Thrift Valuation
Group, Inc.
Griffin Financial Group
                          Purpose and objectives of company valuation Bank operating models and
Heritage Financial        implications for valuation Determining the key drivers of value estimates
Group (MHC)
Hovde Financial           Valuing Banks and Thrifts
Howe Barnes
Hoefer & Arnet
                          Understanding how banks make money Financial statement review: Key line items
HSBC USA                  and management disclosures Evaluating the quality of the balance sheet and
IRIS                      earnings Identifying key ratios Asset/liability structures and interest rate risk
JPMorgan Chase
                          Understanding reserves and regulatory capital requirements
Kafafian Group
Luther King Capital
Management                Lunch
M&T Bank
Marshwinds Advisory       Comparable Company and Transaction Analysis
Mauldin & Jenkins         Getting behind the numbers: Choosing appropriate peer groups Evaluating market
MidFirst Bank
                          conditions Understanding and calculating trading multiples
Morgan Keegan & Co.
Navigant Consulting
Nomura Securities
                          Valuing Banks Using Comparable Peers Analysis: A Case Study
Old National
ONEX Investment
                          Valuing Banks Using Comparable Transaction Analysis: A Case
Corporation               Study
RBC Capital Markets
Resource America          Day One ends at approximately 5:30 p.m.
Royal Capital
Security National         Day Two
Mortgage Co.              Continental breakfast. Program begins at 8 a.m.
Smith Associates
Investments               Discounted Cash Flow Modeling and Analysis
St. Charles Capital
                          Estimating cost of capital and terminal values Recognizing key operating levers and
Stanford Group
Stevens Capital           key bets Estimating free cash flows to equity holders Sensitivity analysis Valuing
Management                fee-based earning streams
Stifel, Nicolaus & Co.
Stilwell Partners, L.P.
                          Discounted Cash Flow Modeling: A Hands-on Case Study
SWS Group, Inc.
Templeton Investment
Counse                    Lunch
U.S. Bancorp
UMB Financial             M&A Valuation
                          Incorporating discounted cash flows modeling Determining a valuation range and
Union Bank of
California, NA            triangulating valuation results Valuing synergies How control premiums impact
Washington Mutual         multiples M&A transaction consideration
Management                Bank M&A Transaction Valuation: A Case Study
William Blair &           Day Two concludes at approximately 5:00 p.m.
To Register                                            About SNL Center for
online:                      Financial Education
call: (434) 951-7786                                   A division of SNL Financial, we are the leading sector-
                                                       specific provider of conferences and seminars for
Registration fee: $2,195                               professionals in the financial services, real estate,
Fee includes all program materials as well             energy or media sectors. Our clients include securities
as breakfast and lunch both days. Discounts            analysts, asset managers, industry executives,
are available for groups of three or more who          investment bankers, institutional investors, corporate
                                                       development officers, investor relations professionals
register from the same company at the same
                                                       and industry regulators. Website:
time. Please call us at (434) 951-7786 for
more information.                                      Professional Development
                                                                   Participants who complete Bank
The seminar is being hosted at the Downtown
                                                                   Valuation qualify for 18 hours of CPE
Conference Center at Pace University in the
                                                       credit (Specialized Knowledge and Applications).
Wall Street district of New York City. The
                                                       Program Level: Intermediate. Delivery
address is 157 William Street.
                                                       Method: Group-Live.
Phone: (212) 618-6992.                                 SNL Center for Financial Education, LLC, is registered with the
Website:                      National Association of State Boards of Accountancy (NASBA),
                                                       as a sponsor of continuing professional education on the
Payment:                                               National Registry of CPE Sponsors. State boards of accountancy
We welcome American Express, Visa,                     have final authority on the acceptance of individual courses for
                                                       CPE credit. Complaints regarding registered sponsors may be
MasterCard, or check. If paying by check,
                                                       addressed to the National Registry of CPE Sponsors, 150 Fourth
please make payable and remit to:                      Avenue North, Suite 700, Nashville, TN, 37219-2417.
   SNL Center for Financial Education                  Web site:
   One SNL Plaza
   PO Box 2016
   Charlottesville, VA 22902

Cancellations are eligible for a full refund, less a
$150 administrative fee, if received by October 17,
2008. Cancellations received after that date but at
least three business days prior to start of the
program receive a credit in the amount of the
registration fee (less a $150 administrative fee)
towards attending another SNL CFE program within
13 months. Attendee substitutions from the same
company are welcome at any time. Cancellations
received less than three business days prior to the
start of the program are not eligible for refund
or credit.

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