Look for Acquisition Targets as Bank M&A Activity Picks Up
Like most of the corporate world, bank mergers and acquisitions (M&A) drastically slowed when the novel coronavirus hit the economy, as most banks were forced to focus on internal issues and put growth initiatives on hold.
The pandemic even forced many banks to terminate previously announced deals. Independent Bank Group and Texas Capital Bancshares called off their planned $3.1 billion merger, while Ally Financial terminated its planned $2.7 billion acquisition of CardWorks. However, as states began to reopen their economies and banks got deeper into the second quarter, M&A began to pick up. It's still way down from 2019 levels, but with more activity, it may be a good idea to start looking at some potential acquisition targets.
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Source Fool.com
