-
Summary
Banks' earnings have remained healthy through the first half of the year, buoyed by continued margin expansion, steady, but unspectacular loan growth and benign credit quality. Earnings growth could prove more challenging in the second half of 2025 however, as the lagging impact of tariffs slows growth and weighs on the consumer. Those emerging earnings headwinds, along with clean credit quality industrywide, could provide further support for stronger bank M&A activity as institutions seek ways to grow. Bank M&A has gone from famine to feast in 2025 and is on track to reach the highest level in three years, as buyers see an opportunity to capitalize on a less restrictive regulatory environment and faster closing timelines.
Join S&P Global Market Intelligence and leading bank M&A advisors as we review recent deal motivations, metrics and the outlook for activity in 2026.
Moderator
S&P Global Market Intelligence
Nathan Stovall
Head of FIG Research
Nathan Stovall, with 17 years' experience covering the banking sector, is a principal analyst for the FIG Research offering of S&P Global Market Intelligence. His primary responsibilities include covering and analyzing financial institutions, with a focus on the banking industry.
He is the author of the banking blog, Street Talk, and host of the podcast by the same name. His in-depth analysis of the banking industry, including a focus on community banks, can be found on SPGMI's Research & Analysis feature, which includes historical and forward-looking performance figures.
During his tenure, he has regularly covered and participated on the conference circuit, moderating panels and webinars focused on major issues facing banks. He has spoken as industry events as well, offering updates on bank fundamentals, market conditions and forecasts for what lies ahead. He has been quoted in a number of trade publications and the national press, including The Wall Street Journal, The New York Times, The Financial Times and has appeared on Fox Business News and NPR's Planet Money.
Nathan holds a Bachelor of Arts degrees from Washington & Lee University, where he majored in business journalism
Speakers
Scott Anderson
Head of KBW Investment Banking & Co-Head of Stifel Investment Banking
Scott Anderson serves as the Head of Investment Banking and is based in the firm’s New York headquarters. He has been with the firm since 2000 and prior to his current position, he was Co-Head of Depository Investment Banking. He is a Director at KBW and is Chairman of the firm’s Investment Banking Executive Committee. KBW’s investment banking team is one of the largest industry efforts on Wall Street and routinely ranks at the top of the advisory and capital-raising league tables.
In addition to his supervisory responsibilities, Scott covers depositories for the firm and is responsible for strategic advisory assignments including M&A and capital markets transactions. Scott holds an MBA from the University of North Carolina and a BS in Commerce from the University of Virginia. He is a frequent lecturer at industry events, as well as at his alma maters.
Questions?
Please contact us if you need more information or have trouble accessing the webinar.