July and August used to be filled with merger mania, but this year bankers and dealmakers seem to have a lot more time for the beach.

Despite a recent surge of small transactions -- including M&T Bank Corp.'s agreement to buy Premier National Bancorp for $342 million and Wells Fargo & Co.'s plan to buy Brenton Banks for $264.5 million -- the pipeline for bank-to-bank deals looks far less busy than it did in the late 1990s, when blockbuster merger announcements were a common Monday news event.

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