It has been a hot summer for bank merger activity nationwide, with factors to blame including a healthy stock market, the urge to grow and, in some cases at the community bank level, growing frustration with the regulatory burden. Another factor cited by merger specialist Mike Blayney of the Dallas law firm Jenkens & Gilchrist P.C. is a growing number of troubled banks being forced to sell.
The acquisition pace and values are approaching levels last seen in 1998-99, said Blayney at the Missouri Independent Bankers Association convention last month. In the earlier period, there were some 400 mergers over 12 months; this year should see numbers in the 30Os, he believes. Prices …
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