It is a sharp turnaround from last year, when the economy spiraled and many regional and community banks put merger plans on the shelf. Now, bank executives are feeling more certain about what the future holds, but some are finding it hard to make it on their own. Though the economy has in many ways recovered from 2020, loan demand is still low and profits from lending are slim.
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Bank mergers are on track to hit their highest level since the financial crisis
“Neither potential sellers nor buyers really wanted to do a transaction last year because of the uncertainty that could be on folks’ balance sheets,” said Kevin Riley, chief executive of First Interstate BancSystem Inc. FIBK -0.08% in Billings, Mont.
