Bank Director's Research Reveals That Deposits Could Drive M&A Activity In 2024
NASHVILLE, Tenn., Nov. 14, 2023 /PRNewswire/ -- Today Bank Director, the leading information resource for directors and officers of financial institutions nationwide, released the results of its 2024 Bank M&A Survey, sponsored by Crowe LLP, an accounting, consulting and technology firm. According to the survey, bank leaders' enthusiasm for M&A appears dampened going into 2024 — in line with reduced deal activity in 2022-23. But an appetite for sticky, low cost deposits could motivate some financial institutions to make a deal in the year ahead.
- Bank Director's 2024 Bank M&A Survey finds a muted appetite for deals — including prospective failed bank acquisitions — but a desire for low cost deposits could be a motivating factor.
- According to the survey, bank leaders' enthusiasm for M&A appears dampened going into 2024 — in line with reduced deal activity in 2022-23.
- But an appetite for sticky, low cost deposits could motivate some financial institutions to make a deal in the year ahead.
- "While total deposits for the industry remain well above pre-pandemic levels, deposit competition and pricing have remained key themes in 2023, particularly following the bank failures in spring," says Emily McCormick, vice president of editorial and research for Bank Director.