The number of deals involving credit unions buying whole banks has been on the rise, and 2019 could see double last year’s total.
Nine whole-bank acquisitions were disclosed in 2018, and another two deals have already been announced this year, with another one potentially on the horizon in Arkansas.
“My best estimate is that there could be double the number of deal announcements when compared to 2018,” said Dennis Holthaus, managing director at Skyway Capital Markets. The firm has advised several credit unions on bank acquisitions.
Both deals announced this year involved Florida sellers and Holthaus, who is based in the state, said the Sunshine State is a long-term growth market with a reasonably large number of community banks. Its current economic strength makes it a good time for banks to sell as well.