6 takeaways from bank M&A in 2019
The pace of bank consolidation quickened in 2019.
Despite a sluggish start, last year ended up being the busiest year for deals since 2016 in terms of the number of mergers announced. Aggregate deal value was in line with what took place a year earlier, excluding the megamerger of BB&T and SunTrust that closed in December.
While the year featured a number of headline-grabbing combinations, led by BB&T-SunTrust, a slew of mergers between smaller banks took place. Overall premiums were down, largely because of no-premium mergers of equals and the high percentage of small transactions.
A handful of states were responsible for a large percentage of industry consolidation.
Credit unions stepped up efforts to buy banks, drawing even more ire from the banking industry.
Here is a deeper look at the key trends of 2019 bank M&A, which will likely continue in the new year.