Walt Moeling, an Atlanta banking attorney who has followed the industry for 37 years and heads the financial institutions practice of Powell Goldstein LLP, said the fallout from the real estate malaise is already creating some consolidation.

“There are going to be roll up opportunities,”  Moeling said.  “There are going to be combination opportunities, maybe two banks, neither of which is as pretty as it would like to be figures, if we can take this portion of anatomy from Bank B, this part from Bank C, maybe we will be okay. These things are going to happen from frustration and regulatory pressure and lack of capital.”

Investors in new banks are now facing pressures they have not faced during the boom economic years.

“They are hitting this wall, having come into this thinking this is a relatively secure situation, we’re going to get in, make money, and get out,”  Moeling said. “Even if they are doing well, their thoughts of easy entrance, easy exit, good profit, are going to be deferred.”