Meeting Coverage

New SIFI threshold boosting M&A?

Merger and acquisition activity in the banking industry continues to touch about 5 percent of the nation’s banks. Roughly, the industry loses a bank every business day. As some new investor groups come forward, an acquisition doesn’t always mean the loss of a charter, but usually it does.

S. 2155, the reg relief bill passed in May, is likely to mean an increase in the number of potential buyers. Karen Grandstrand of the Fredrikson & Byron law firm in Minneapolis noted at the Bank Holding Company Association Fall Seminar in early October that the new law changes the meaning of “Systemically Important Financial Institution,” a designation created by the Dodd-Frank Act. [Continue]