Laurence C. Pettit Jr.

Professor of Commerce

Office phone: 434-924-3224
e-mail: lp2c@virginia.edu

Education:

D.B.A., Corporate Finance, University of Virginia
M.S., Labor Economics, Virginia Polytechnic Institute and State University
B.S., Business Administration, Virginia Polytechnic Institute and State University

Areas of Expertise:

Professor Pettit has an extensive background in corporate finance, with a focus on corporate structure, funds acquisition, and capital planning. The results of this focus, outside of his university assignments, have been consulting and advisory activities, including hospital facilities planning and new small business capital formation issues as well as an interest in the financial institutions that support those businesses. Professor Pettit is also a specialist in community banking, credit administration, strategic planning of financial institutions, small business finance, and venture capital. His current research focuses on the management of credit in bank-related enterprises and the development of alternative financial delivery systems in non-bank businesses. In addition, Professor Pettit has organized and developed an academic focus on forecasting in combination with the strategic objectives of the firm. He has extensive experience in the problems of emerging growth firms.

Professor Pettit's expertise has led to his participation in the design of and teaching in a number of credit and corporate lending seminars for international, national, and regional banks and insurance companies. He also organizes and leads strategic planning and profit planning for both community and regional financial institutions, as well as forecasts and speaks on the evolution of the banking industry and its competitive framework with numerous banks, banking organizations, and accounting organizations.

Professional Activities:

Professor Pettit is a member of the Financial Management Association, has had frequent visiting professor opportunities, and consults with numerous large banking organizations. He has published research in a variety of journals, including The Bankers Magazine; Financial Review; The Journal of Commercial Lending; Journal of Financial Education; and The Journal of Bank Accounting & Auditing. In addition, he has a particular interest in community banks, which has resulted in numerous speaking and consulting activities relating to that particular sector. Professor Pettit has been involved with numerous banking schools, including Stonier Graduate School of Banking, Consumer Bankers Association Graduate School of Retail Bank Management, and the Bank Administration Institute School of Banking. He is a founder and lead instructor for the American Institute of Certified Public Accountants’ National Banking School.

Within the University, Professor Pettit has served on numerous University committees and studies. He is both a Raven and a Harrison Award recipient.

Selected Publications:

"Loan Pricing and Bank Value: Basics versus Pitfalls," Bankers Magazine, July/August 1992 (with R.S. Kemp Jr.). 

"The Valuation of Small or Closely-held Banks," The Journal of Bank Accounting & Auditing, spring 1991 (with M. Atchison and R. Kemp). 

"Creating a More Valuable Bank by Knowing Dynamics of ROE, Sustainable Growth," The Journal of Bank Accounting & Auditing, fall 1990 (with M. Atchison and R. Kemp).

"Performance Measurement in Banking: Expanding ROE Analysis to a Value Perspective," The Journal of Bank Accounting & Auditing, summer 1990 (with R. Kemp and M. Atchison).

"Recognize Business Life Cycle ... to Enhance Shareholder Value, Avert Takeovers," Resources, First Pennsylvania Bank Corporate Bulletin, October 1989.