Seven U.S. banks crossed the $10 billion asset mark during the first quarter. One more is set to cross as a result of completed acquisition, while another announced a deal that would push the bank over the mark.

The $10 billion mark remains a key threshold for banking institutions. After breaching $10 billion in assets, debit card interchange income can drop by half due to restrictions imposed by the Durbin amendment, part of the landmark Dodd-Frank Act. Most institutions try to clear $10 billion by a wide margin to offset the lost revenue.

McKinney, Texas-based Independent Bank Group Inc., Wilmington, Del.-based WSFS Financial Corp. and Warren, Pa.-based Northwest Bancshares Inc. completed their respective M&A deals during the quarter to get over the line.

While Muncie, Ind.-based First Merchants Corp.'s acquisition of Monroe, Mich.-based MBT Financial Corp. is still not completed, the bank ticked past the $10 billion mark during the quarter with organic growth.

Wyomissing, Pa.-based Customers Bancorp Inc., after reducing its total assets below $10 billion during the last quarter of 2018, also bounced back above the threshold to $10.14 billion as of March 31. Previously, the bank reported more than $10 billion in assets for the second and third quarter of 2017 before dropping below the threshold at year-end.

Another bank joining the $10 billion club next quarter will be Rockland, Mass.-based Independent Bank Corp. with the completion of its acquisition of Norwood, Mass.-based Blue Hills Bancorp Inc. on April 1. The bank reported $9 billion in total assets as of March 31, and will cruise past the threshold with the addition of Blue Hills' $2.81 billion assets.

On March 15, Walnut Creek, Calif.-based Mechanics Bank agreed to acquire Roseville, Calif.-based Rabobank NA except its food and agribusiness assets. Mechanics Bank reported $6.05 billion in total assets as of March 31, while Rabobank had $13.45 billion.

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