Bank M slowed sharply year over year in the first four months of 2023. Eight transactions were added in April with an aggregate value of $102.7 million, according to S&P Global Market Intelligence data analysis.

S Bank M 2023 Deals Slowdown

Key highlights from the analysis include:

In the year through April 30, 28 US bank M deals were announced — less than half the total announced over the same period in 2022. The aggregate disclosed deal value fell to $535.5 million from $2.00 billion. The median deal value-to-tangible common equity ratio for bank deals announced in the first four months of 2023 was 132.3%. That marks the lowest valuation level since the third quarter of 2020. Of the 28 deals announced year to date through April, 16 had targets headquartered in the Midwest region. Illinois had five target banks, making it the most-targeted state in the US. Arizona banks were targeted twice, pushing the total number of targets in the West in 2023 thus far to five.

Source valuewalk