Peter Gill, Head of the Financial Services Team at KPMG Corporate Finance, quoted in Minneapolis Business Journal

June 8, 2007

In the June 8, 2007 edition of the Minneapolis Business Journal, KPMG Corporate Finance had an opportunity to contribute to Bryant Switzky's article, "A small piece of a big pie.  Banks find extra dough in loan participations, despite slight risk factor."

Peter Gill, Head of the Financial Services Team at KPMG Corporate Finnce, was interviewed with respect to his thoughts on the latest trend in loan participations.

Bryant Switzky writes: "Often, the lead bank is a new institution with a realtively low legal lending limit.  These de novo, or new, banks are usually started by veteran commercial lenders who bring in fairly large deals, said Peter Gill, an investment banker and managing director of KPMG Corporate Finance's Minneapolis office.

"If a new bank's client wants to borrow $20 million for a real estate development, the bank probably won't be able to lend that much on its own.  Even if it could, it may still be more prudent to spread the risk around a bit.  Enter participant banks.  These banks are often in rural areas where the lending market is slim, leaving them with excess liquidity, Gill said.

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