Top US regional bank deals in 2024 as consolidation gathers pace
Aug 19 (Reuters) -U.S. regional bank mergers have ticked up this year and are expected to remain robust as the lenders seek stronger balance sheets to compete better against larger rivals.
There have been 38 regional bank deals this year, compared with 29 during the same period in 2023, according to Dealogic data.
Here is an overview of the biggest deals in the space this year:
Target | Acquirer | Deal value | Date |
|---|---|---|---|
Independent Bank Group IBTX.O | SouthState Corp SSB.N | $2 billion | May 20 |
Heartland Financial HTLF.O | UMB Financial Corp UMBF.O | $2 billion | April 29 |
First Bancshares FBMS.N | Renasant Corp RNST.N | $1.2 billion | July 29 |
Premier Financial PFC.O | WesBanco WSBC.O | $959 million | July 26 |
Macatawa Bank Corp MCBC.O | Wintrust Financial WTFC.O | $510.3 million | April 15 |
Heartland Bancorp HLAN.PK | German American Bancorp GABC.O | $330.2 million | July 29 |
Piedmont Bancorp | United Bankshares UBSI.O | $267 million | May 10 |
California BanCorp CALB.O | Southern California Bancorp BCAL.O* | $233.6 million | Jan 30 |
* Merger of equals
Source: Dealogic
Note: Data as of Aug 2.
Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Sriraj Kalluvila
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