Bank merger announcements plummeted for a second quarter in a row in the three months ended June 30, according to SNL Securities. Aggregate value of deals announced fell to $4.92 billion, from $ 5.67 billion in the first quarter and $8.4 billion in the fourth quarter of 1993, the data firm said.

Experts attributed the falloff to a lack of willing sellers, now that the banking industry has recovered from the asset-quality problems of the late 1980s and early 1990s.

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