A scorching summer for bank M&A
Bank consolidation has heated up in recent weeks. Eighteen deals, with a total value of more than $2.4 billion, have been announced since mid-July. Half of the year’s 10 biggest agreements ranked by deal value were announced in June and July.
To be sure, the overall pace of consolidation still lags that of prior years. The 143 deal announcements to date is 15% lower than during the same period last year. The aggregate deal value of $14.4 billion, excluding the BB&T-SunTrust megamerger, is off 31% from 2018.
Here are some of the most noteworthy deals announced in June and July.