Excerpt:
There have already been more deals involving credit unions buying banks announced in 2018 than any previous year, and there could be more to come before Dec. 31….
Michael Bell, an attorney with Howard & Howard, served as Advia’s legal adviser and has advised the buyers on many credit union-buying-bank deals. He told S &P Global Market Intelligence deals in Ohio and Colorado could be announced in the coming weeks.
Bell said the hottest areas of the U.S. for such deals are the Southeast – especially Florida, Georgia and Alabama.
Like Bell, Dennis Holthaus, managing director at Skyway Capital Markets, has also advised on several credit union-bank deals. He said in an interview there are a number of transactions now in various stages of completion.
Holthaus said the holiday season makes timing important to the sellers as they often do not want to notify staff about a deal until after the holidays are behind them….
The Southeast and mid-Atlantic states continue to see the most activity for credit union-bank deals because of the demographic and growth trends of those states, Holthaus said…
