While bank merger and acquisitions activity in the U.S. is at historic lows — the slowest pace since 2009 — there are deals getting done. Additionally, banks are positioning themselves for when the market improves.
Until then, the deals that are getting done are in “slow motion” from conception to conclusion. Parties are taking longer to come to pricing terms and buyers are digging deeper into diligence. In some cases, the regulatory approval timeline has increased, particularly if a seller has any “hair” on it or the buyer is “nontraditional,” such as an investor group, fintech or credit union, which can invite increased regulatory scrutiny.
