Forget the Big Banks.
"There's no one in charge of the global financial system ... It's crazy."
That was Jamie Dimon, head of JPMorgan Chase & Co. (JPM), who made this statement during today's earnings conference calls for JPM. The results of JPM's 2011 Q4 report were somewhat negative but hardly unanticipated. JPM reported revenue of $22.2B, which missed by $850 million and constituted a 17% decrease year-over-year. Earnings also took a 23% hit and shares are down 2.5%.
The news and reports concerning JPMorgan Chase & Co. and other major banks have recently dominated financial headlines, resulting in many small regional banks going under the radar. Ironically, some of these small regional banks also hold some of the most potential in the sector, and many show fundamental soundness to a degree that many of these larger banks can only dream of. One of these stocks is Signature Bank (SBNY). Full article below: