2019 banking M&A activity started off the year with a strong, active first quarter. The first quarter saw 65 M&A deals close which is a 21% increase from what was announced for the first quarter. 2019’s opening quarter matched 2018’s Q1 exactly (in 65 closed deals) and continued a 7 plus year trend of over 60 deals being closed in the first quarter. The first quarter also saw a slight, 3 deal, increase over 2018’s Q4 which has not happened since 2015. Q1 of 2019’s activity spiked geographically in the middle of the country with 36 of the 65 deals, or 55%, coming from the central region. The largest deal closed of the first quarter was Synovus Financials’ $2.9 billion-dollar acquisition of FCB Financial Holdings. With the merger of FCB, Synovus has now become a top five regional bank by deposits in the Southeast, with approximately $45 billion in assets, $37 billion in deposits, $35 billion in loans.
“Nationwide, the trend continues to move upward in both the number of deals announced and the size of the deals. It’s interesting to correlate the banking M&A trends with the nation’s economic and growth trends for population and small business.” Said Kris Bishop, President and CEO of Integrated Legacy Solutions.
Headquartered in Birmingham, Ala., Integrated Legacy Solutions (ILS) provides industry leading technology for image and data migrations to the financial industry. ILS’s leadership team has performed data conversion for thousands of financial institutions over their 20 plus years in the financial industry. ILS has designed innovative ways to migrate data with greater efficiency than other costly and time-consuming methods of data conversion. ILS’s success is focused on 3 key areas; customer service, the business (or conversion) process, and the latest technology to migrate legacy systems quickly with minimal disruption to the client’s production environment.