Mergers between U.S. banks could hit the highest level in a decade this year, Rafferty Capital’s Richard Bove told CNBC on Thursday.
The veteran bank analyst said the Federal Reserve opened the door to mergers and acquisition activity last year when it allowed BB&T Corporation to purchase both Susquehanna and Bank of Kentucky. The bank is also set to purchase National Penn Bancshares in 2016 for approximately $1.8 billion.
