Locally, the big fish eat the little fish, and then you have these huge whales out there. If the new bank is profitable, chances are it's being looked at.
With his Houston franchise, he built in a market that wasn't hot going into it, but he could see it was going to become something.
Someone starts a bank in Dallas knowing that there are a number of buyers in the market. Most people don't start banks that they know won't sell.
They got a heck of a price. This is just an example of larger banks desiring to get into really attractive markets, and you have to pay a premium for that.
