Bank M&A activity declines
July 23, 2009
By MoneyAisle
According to the Houston Business Journal, the mergers and acquisitions of banks in Texas have declined dramatically.
This year two mergers have been completed, compared with 13 in 2008 and 25 in 2007. The two merger deals occurred when Tall City Bancshares Inc. took over Kent County State Bank in March and when Austin Bancshares Inc. acquired La Grange Bancshares Inc. in May.
“Across the country, amid a growing number of bank failures, overall M&A has not slowed as dramatically, with 66 deals through June 30 compared to 144 for all of 2008.”