A Look at 2024's Biggest Bank Mergers

We take a deep dive into the 10 biggest deals, including the background of how many of these transactions came together.

Happy Monday, Bank Slaters!

How’s the yearend housekeeping going? As we put the finishing touches on at Bank Slate, we are also working ahead on 2025 by scheduling guests for the third season of our Convos podcast series. We’re looking forward to discussing diverse views on banking and fintech topics in the new year.

Let’s talk about bank M&A in 2024.

Let’s be honest, consolidation remained rather lackluster. Yes, the total number of deals will surpass that of 2023, but it will remain well below historical norms. Premiums, in terms of price to seller’s tangible book value, could end the year below those of the prior year.

To be sure, there were some improvements for those hopeful of a rebound in 2025. Average deal value and average seller’s assets are both on the rise — largely due to a handful of bigger merger announcements. Another Trump presidency has many believing that regulatory scrutiny over bank mergers will ease over time.

Several key trends became apparent with the year’s biggest deals — something I discussed in my commentary for the Forbes Finance Council. I took an even deeper dive into acquirer’s capital raises in a recent Bank Slate newsletter.

With that in mind, it makes sense to look back at the biggest bank mergers disclosed in 2024, including in many cases the background of these deals.