US banking sector
merger and acquisition activity slipped back in 2011 from 2010
levels according to data from SNL Financial.
In 2011, 173 US
bank and thrift transactions were announced, down from 215 deals in
2010.
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Despite fewer
deals, the aggregate value of deals in 2011 rose by over one-third,
to $17.01bn from $12.32bn in 2010.
Excluding
liquidations, 90 US-government-assisted deals took place in 2011
compared to 147 in 2010. Looking at branch deals, 87 were announced
in 2011 compared to 84 in 2010.
SNL said that the
branch deals contributed to a substantial increase in 2011 in
aggregate deposits transferred, with First Niagara’s deal to snap
up 195 branches and $15bn of deposits from the US unit of HSBC
among the most notable.
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