2. ABC Company ("ABC") is in the financial services business. Management is considering acquiring a regional bank to build a high-net-worth clientele to whom it can offer its already existing financial products. The Board of Directors is concerned about doing so in light of the financial difficulties of certain of the regional banks in 2023. The CEO asks you to draft a memo to the Board indicating the principal reasons for the failures of those banks, and what steps you recommend that ABC take in qualifying a suitable acquisition target. The CEO also asks you to identify in your memo two or three instances in which management failure was a significant cause contributing to the failure of a financial institution in 2023