Analyst Information


Aaron James Deer

Managing Director

Aaron James Deer

Aaron James Deer is a managing director and senior research analyst at Piper Sandler. Previously, he was a managing director in the equity research department of Sandler O'Neill + Partners covering West Coast financial institutions. His focus areas include commercial banks and thrifts, financing of venture capital and private equity-backed enterprises, and innovation among financial intermediaries. He has provided research support on numerous stock underwritings and IPOs for clients ranging from community banks to global institutions. Prior to joining Sandler O’Neill + Partners, Deer worked for RBC Capital Markets providing research coverage on a variety of regional and national banks. Before that, he supervised research and valuation teams for RSM EquiCo Capital Markets (now part of D.A. Davidson & Co.), specializing in middle-market mergers and acquisitions. He also worked with business and political leaders from around the world as a communications and strategy advisor in Washington, D.C. and Paris, France. He began his career serving in a variety of frontline and back-office positions at regional and community banks. Deer is quoted frequently in national media on banking issues and the economy, and advises management teams and boards on strategy and industry trends. He holds a Master of Business Administration degree with an international business concentration and a master’s degree in international affairs (trade and investment policy concentration) from The George Washington University and a bachelor’s degree in business administration in economics from the University of North Dakota.


Michael Hultquist
Research Analyst
Universe Coverage:
Financial Services:   West Coast Banks, Southeast Banks, Midwest Banks, Specialty Finance, Bank Insights
BOHBank of Hawaii Corporation
CATYCathay General Bancorp
CPFCentral Pacific Financial Corp.
COLBColumbia Banking System, Inc.
CVBFCVB Financial Corp.
EWBCEast West Bancorp, Inc.
FFNWFirst Financial Northwest, Inc.
FHBFirst Hawaiian, Inc.
FRCFirst Republic Bank
HTGCHercules Capital, Inc.
LOBLive Oak Bancshares, Inc.
PACWPacWest Bancorp
PFBCPreferred Bank
RBBRBB Bancorp
SBTSterling Bancorp, Inc.
SIVBSVB Financial Group
TBNKTerritorial Bancorp Inc.
UMPQUmpqua Holdings Corp.
WABCWestamerica Bancorporation