MARC Record from marc_nuls

LEADER: 15858pam 22003974a 4500
001 9922250300001661
005 20150423142945.0
008 000831s2001 nyua b 001 0 eng
010 $a 00046264
020 $a0471394491 (cloth : alk. paper)
035 $a(CSdNU)u98947-01national_inst
035 $a(Sirsi) l00046264
035 $a(Sirsi) l00046264
035 $a(Sirsi) 01-AAM-4312
035 $a 00046264
040 $aDLC$cDLC$dDLC$dOrPss
042 $apcc
043 $an-us---
050 00 $aHG 1707.7$bR49 2001
100 1 $aRezaee, Zabihollah,$d1953-
245 10 $aFinancial institutions, valuations, mergers, and acquisitions :$bthe fair value approach /$cZabihollah Rezaee.
250 $a2nd ed.
260 $aNew York :$bJohn Wiley,$cc2001.
300 $axxii, 434 p. :$bill. ;$c26 cm.
504 $aIncludes bibliographical references and index.
505 0 $aThe Foundation: Financial Institutions, Valuations, Mergers, Acquisitions, Regulatory and Accounting Environment -- Introduction to Financial Institutions -- Structural Changes in the Financial Services Industry -- Consolidation -- Convergence -- Competition -- Historical Perspective of American Banking -- Current Trends in the Banking Industry -- Changes in Regulations -- Information Technology -- Global Marketplace -- Capital Standards -- Supervisory Activities -- Continuous Quality Improvement -- Valuation Process -- Overview of the Valuation Process -- Valuation Services -- Valuation Profession -- Attracting Valuation Clients -- Accepting a Client -- Pricing Valuation Services -- Importance of the Engagement Letter -- Planning an Appraisal Engagement -- Conference with Client Personnel -- Knowledge of the Business -- Legal Structure -- Policies -- Industry and Economic Conditions -- General Planning -- General Planning Decisions to be Made -- Evidence and Knowledge Obtained to Prepare Preliminary Appraisal Plan -- Procedures in Preparing the Preliminary Appraisal Plan -- Appraiser's Traits -- Able to Function Well Under Intense Pressure -- Communicate Well Both Orally and in Writing -- Utilize Both Qualitative and Quantitative Data -- Be Unfazed by Ambiguity and Uncertainty -- Continuous Improvement of Valuation Expertise and Skills through Ongoing Professional Education -- Continuous Marketing Strategies -- Appraiser's Due Diligence Process -- Overview of Mergers and Acquisitions -- Historical Perspective of M & A -- Recent Trends in M & A -- Regulations of Bank Mergers -- Antitrust Regulations -- Trends Toward Business Combinations in the Financial Services Industry -- Motives for Business Combinations -- Determinants of Mergers and Acquisitions -- Perceived Shortcomings of M & A -- Diminished Services -- High Financial Services Fees -- Credit Availability -- Undesirable Impacts on Competition -- Studies on Mergers and Acquisitions -- Mergers and Acquisitions Process -- Strategy Development -- Target Identification and Selection -- Identifying Key Issues and Contacting Targets -- Structuring the Acquisition Transaction -- Due Diligence Process -- Risk Assessment -- Negotiation -- Financial Structure -- Closing the Deal -- Integration -- Regulatory Environment and Financial Reporting Process of Financial Institutions -- Consolidation -- Technological Innovations -- Geographical and Activity Diversification -- National and Global Competition -- Regulatory Environment -- Bank Supervision -- Market Discipline -- Supervision -- Minimum Capital Regulation -- Safety and Soundness -- Financial Modernization: The Gramm-Leach-Bliley Act -- Financial Reporting Process of Financial Institutions -- Statement of Financial Accounting Standards (SFAS) No. 115 -- Auditing Proper Classifications of Marketable Securities -- Tax Consideration of Fair Value -- Recent Development of Fair Value Accounting -- Financial Reporting Requirements of Financial Institutions -- Reports Required Under Regulation H and the SEC Act of 1934 -- Reporting Requirement for International Activities -- Corporate Governance of Financial Institutions -- Financial Reporting -- Internal Control Structure -- Independent Audit Committee -- Functions of Audit Committees -- Fundamentals of Valuations: Concepts, Standards, and Techniques -- Value and Valuation: A Conceptual Foundation -- The Nature of Value -- Twelve Concepts of Value -- Types of Property That Can Be Valued -- Relationship Among Different Types of Value -- Principles of Valuation Theory -- Principle of Alternatives -- Principle of Replacement -- Principle of Substitution -- Principle of Future Benefits -- Pricing Value Versus Reporting Value -- Limitations of the Valuation Process -- Approaches to Measuring Value -- Overview of the Valuation Process -- The Cost Approach to Valuation -- The Market Approach to Valuation -- Identifying Comparables -- Adjusting for Lack of Comparability -- The Income Approach to Valuation -- The Stabilized Income Method -- The Discounted Future Income Method -- Discounted Cash Earnings -- Selecting the Type of Income to Use -- Estimating the Stabilized Level of Income -- Projecting Future Income Levels -- Selecting the Capitalization and Discount Rates -- Dividend Capitalization Model -- The Effects of Inflation -- Special Topics--Approaches to Intangible Asset Valuation -- Cost of Replacement of Intangible Asset -- Income from Intangible Asset -- Cost Savings from Intangible Asset -- Excess Earnings Method -- Special Topics--Business Valuation -- Market-to-Book Value Method -- Total Enterprise Value Versus Value of Equity -- Existence of Preferred Stock -- Adjusted Book Value to Compute Market Value of Equity -- Liquidation of Business -- Valuation and Business Concentrations -- Special Topics--Closely Held Stock -- Revenue Ruling 59-60 -- Discounts for Minority Position/Premium for Control -- Discount for Lack of Marketability -- Special Topics--Valuing Widely Traded Companies -- Valuations for Tax and Accounting Purposes -- Tax Aspects of Mergers and Acquisitions -- Nontaxable Transactions -- Taxable Transactions -- Typical Tax-Oriented Valuations -- Accounting Aspects of Mergers and Acquisitions -- Pooling Versus Purchase Accounting -- Requirements for Use of Pooling Accounting -- Advantages and Disadvantages of Purchase and Pooling Accounting -- Typical Accounting-Oriented Valuations -- Intangible Asset Valuation -- Nature and Types of Intangible Assets -- Criteria for Defining Intangible Assets -- Core Deposit Base -- Loan Servicing Contracts -- Safe Deposit Box Contracts -- Proprietary Computer Software -- Trust Accounts -- Leasehold Interests -- Assembled Work Force -- Goodwill -- Amoritzable Versus Nonamortizable Intangible Assets -- Benefits of Amortization -- Requirements for Amortization -- Measuring the Useful Life of an Intangible Asset -- Unique Experience -- Individual Component Analysis -- Establishing Value of Intangible Assets -- The Cost Approach -- The Market Approach -- The Income Approach -- Amortization Methods -- Supporting Intangible Asset Valuation and Amortization -- Assessment of Financial Institutions -- Financial Analysis of Banks and Bank Holding Companies -- Types and Sources of Financial Data -- The Uniform Bank Performance Report -- The Bank Holding Company Performance Report -- Other Public Sources -- Private Sources -- Internal Data Sources -- Overview of Financial Statements -- Income Generation and Income Statement -- Balance Sheet -- Composition of Bank Assets -- Cash and Due Froms -- Investment Securities -- Fed Funds Sold and Reverse Repos -- Loans and Lease Financing Receivables -- Assets Held in Trading Accounts -- Premises and Fixed Assets -- Other Real Estate Owned -- Investments in Unconsolidated Subsidiaries and Associated Companies -- Customer Liabilities to Bank on Acceptances Outstanding -- Intangible Assets -- Other Assets -- Composition of Bank Liabilities -- Deposits -- Fed Funds Purchased and Repos -- Demand Notes Issued to U. S. Treasury -- Other Borrowed Money -- Mortgage Indebtedness/Capitalized Leases -- Bank's Liability on Acceptances Executed and Outstanding -- Subordinated Notes and Debentures -- Other Liabilities -- Off-Balance Sheet Items -- Composition of Bank Capital -- Par Value of Stock -- Surplus -- Undivided Profits -- Capital Reserves -- Regulatory Capital Components -- Capital Components--Banks -- Capital Components--Bank Holding Companies -- Risk-Based Capital -- Value-at-Risk (VAR) Models -- Composition of Bank Income -- Interest Income -- Noninterest Income -- Extraordinary Gains (Losses) -- Composition of Bank Expenses -- Interest Expense -- Noninterest Expense -- Provision for Loan and Lease Losses and Allocated Transfer Risk -- Income Taxes -- Balance Sheet Analysis Illustration -- Asset Growth Rates -- Asset Composition -- Asset Composition--Peer Group Comparison -- Liability Growth Rates -- Liability Composition -- Liability Composition--Peer Group Comparison -- Capital Levels and Trends -- Income Statement and Profitability Analysis Illustration -- Overall Income and Expenses -- Sources of Profitability -- Loan Risk Analysis Illustration -- The Magnified Impact of Loan Losses -- Delinquent and Classified Loan Analysis -- Historical Loan Risk Analysis -- Liquidity and Investment Portfolio Analysis Illustration -- Portfolio Equities Analysis (Realm Model) -- Special Bank Holding Company Considerations -- Internal Characteristics Assessment -- Objectives and Benefits of an Internal Characteristics Assessment -- The "Ten P Factor" Framework -- Profits -- People -- Personality -- Physical Distribution -- Portfolio -- Products -- Processes -- Property -- Planning -- Potential -- Shareholder Value Creation -- Risk Assessment -- Economic Value Added -- Balanced Scorecard (BSC) -- External Environment Assessment -- Impact of External Environment on Value -- Sources of Data -- Market-Wide Versus Small Area Analysis -- Demographic Analysis -- Economic Analysis -- Competitive Analysis -- Valuation of Mergers and Acquisitions -- The Bank Merger and Acquisition Process -- Strategy Phase -- Overall Strategic Plan -- Merger and Acquisition Team -- Merger and Acquisition Plan -- Candidate Criteria -- Candidate Identification -- Candidate Analysis -- Preliminary Valuation and Financial Feasibility -- Negotiation and Investigation Phase -- Negotiation Strategy -- Candidate Contact and Preliminary Negotiations -- Letter of Intent -- Due Diligence -- Finalization and Integration Phase -- Final Agreement -- Regulator and Shareholder Approval -- Transaction Finalization -- Integration -- Accounting Standards on Mergers and Acquisitions -- Accounting for Business Combinations -- Alternative Proposals to ED -- Potential Impacts of New Accounting Standards on M & A Deals -- Effect on M & A Deals -- Cash Flow -- More Efficient M & A Deals -- Impact on Earnings.
505 8 $aEmpirical Research on the Effects of Accounting Methods for Business Combinations -- Implementation of New Accounting Standards on M & A -- Develop Bank Merger Strategy -- Examine the Risks Inherent in Mergers -- Determine How the Proposed Accounting Standards Will Affect Bank Mergers, Before and After their Adoption -- Consider the Appropriate Accounting Treatment of the Business Combination Transaction -- Consider the Cash Flow Implications of the Proposed Accounting Standards -- Recalculate the Tax Implications of Mergers Under the New Proposed Accounting Standards -- Review all of the Above with Independent Bank Accounting Firms and Tax Advisors -- Provide Full Disclosure of Merger and Acquisition Transactions -- Inform Financial Statement Users about Bank Business Combinations -- Valuing a Bank as a Business Enterprise -- Business Enterprise Versus a Collection of Assets -- The Concept of the Banking Franchise -- Difference Between Strategic and Tactical Valuations -- Why the Cost Approach Is Not Used For Strategic Bank Valuations -- Application of the Market Approach to Valuing a Bank -- Identification of Comparable Transactions -- Basis of Comparability -- Publicly Traded Companies as Comparables -- Value Estimation by Market Approach--An Example -- Advantages and Disadvantages of Market Approach -- Application of the Income Approach to Valuing a Bank -- Measuring Available Cash Flow -- Overview of Income Approach Model -- Projection of Key Balance Sheet Items -- Projection of Income, Expenses, and Available Cash Flow -- Value Estimation by Income Approach--An Example -- Sensitivity of Value Estimate to Assumption Changes -- Value Creation Opportunities and the Acquisition Price -- Valuation Methods for Mergers and Acquisitions -- Income Approach -- Balance Sheet Approach -- Market Approach -- Sophisticated Valuation Techniques for Mergers and Acquisitions -- The Capital Asset Pricing Model (CAPM) -- Accounting-Based Valuation Approach (Ohlson Model) -- Relation Between Price and Value and Effect on Stockholders -- Valuation of Tangible Bank Assets -- Tangible Physical Assets -- Tangible Financial Assets -- Investment Securities Valuation -- Loan Portfolio Valuation -- Commercial Loans -- Consumer Loans -- Mortgage Loans -- Lease Financing -- Nonperforming Loans -- Tangible Assets in Bank Mergers and Acquisitions -- Core Deposits as a Special Type of Intangible Asset Valuation -- The Concept of Core Deposit Base as an Intangible Asset -- Internal Revenue Service Position on Core Deposits -- Important Core Deposit Tax Court Cases -- The Midlantic Case -- The Banc One Case -- The AmSouth Case -- The Citizens & Southern Case -- The Newark Morning Ledger Case -- Deposits to be Included in Valuation -- Alternative Approaches to Valuing a Core Deposit Base -- Historical Development Cost Approach -- Cost Savings Approach -- Future Income Approach -- Core Deposit Base Life Estimation -- Historical Retention -- Projecting Lifing of Acquired Core Deposit Accounts -- Application of the Cost Savings Approach -- Application of the Future Income Approach -- Earnings Per Account Calculation -- Projection of Earnings from Acquired Deposit Base -- Computation of Deposit Base Value -- Derivative Financial Instruments -- Authoritative Guidelines on Derivatives -- Derivative Markets -- Derivatives Risk Management -- Derivatives Risk Management Policy -- The Extent of Derivatives' Use -- Identification and Analysis of All Types of Derivatives -- Identification and Assessment of Derivative Risk -- Accounting of Derivatives -- Financial and Managerial Impacts of SFAS No. 133 -- How Does This SFAS No. 133 Work? -- Financial Requirements -- Disclosure Requirements -- Tax Considerations of Derivatives -- Audit of Derivative Transactions -- Sources of Information on Derivatives -- Derivatives Valuation Models -- Binomial Model -- Binomial Model--An Illustrative Example -- The Black-Scholes Call Option Valuation Model -- An Illustrative Example of the Black-Scholes Valuation Formula -- Digital Contracts for Valuation of Derivatives -- Real World Bank Valuation Complications -- Banks Experiencing Recent Losses -- Banks with Low Equity Capital -- Banks with Uncertain Future Loan Loss Exposure -- Preferred and Common Stock -- Highly Leveraged Banks -- Branch Acquisitions -- European Banking Model -- Initial Public Offering (IPO).
650 0 $aBanks and banking$xValuation$zUnited States.
650 0 $aBank mergers$zUnited States.
650 0 $aSale of banks$zUnited States.
650 0 $aFinancial institutions$xValuation$zUnited States.
650 0 $aFinancial institutions$xMergers$zUnited States.
650 0 $aFinancial institutions$xPurchasing$zUnited States.
650 0 $aConsolidation and merger of corporations$xLaw and legislation$zUnited States.
948 $a11/28/2001$b11/30/2001
999 $aHG 1707.7 R49 2001$wLC$c1$i31786101666425$d8/16/2007$e7/12/2007 $f4/2/2004$g1$lCIRCSTACKS$mNULS$n4$rY$sY$tBOOK$u11/30/2001