U.S. banks and thrifts announced 14 deals in September, the highest monthly tally in 2020 after January.
During the first three quarters of this year, the industry saw 81 deal announcements worth an aggregate $7.75 billion, compared to 200 deals worth $47.05 billion over the same period in 2019. The median deal value to tangible common equity ratio for deals announced in 2020 was 134.2%, down from 157.7% in all of 2019.
On Sept. 28, Mattoon, Ill.-based First Mid Bancshares Inc. agreed to acquire all outstanding shares of Columbia, Mo.-based LINCO Bancshares Inc. for $144.9 million at a deal value to tangible common equity ratio of 106.6%.
On Sept. 25, Pittsburgh-based Dollar Mutual Bancorp agreed to acquire Monroeville, Pa.-based Standard AVB Financial Corp. in an all-cash transaction for $158.2 million and a deal value to tangible common equity ratio of 133.4%.
Click here for a list of pending and completed M&A deals announced since Jan. 1, 2010.