As of Oct. 31, 220 bank and thrift deals have been announced in 2018 for a combined value of $26.6 billion and a median deal value-to-tangible common equity ratio of 169.9%.
Over the same time frame in 2017, 201 deals worth $23.2 billion were announced with a median deal value-to-tangible common equity ratio of 162.4%.
Pricing trended even higher in October. Among the 18 deals announced, the median deal value-to-tangible common equity ratio was 177.7%.
On Oct. 5, Richmond, Va.- based Union Bankshares Corp. announced that it would acquire Reston, Va.-based Access National Corp. for approximately $611.0 million, making it October's largest deal.
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