Bank mergers extend their lead as the biggest year for M&A since 2007


The combined deal value of U.S. bank mergers grew to more than $61 billion from Jan 1. to Nov. 30, S&P Global Market Intelligence said on Thursday. Twenty deals were announced in November, with a combined value of $2.48 billion. The median deal value-to-tangible common equity ratio has increased to 151.8% thus far in 2021, up from 136.3% for all of 2020. Consolidation in the Texas banking market took center stage in November with two large deals. Simmons First National Corp. SFNC, +0.97% and Spirit of Texas Bancshares Inc. STXB, +0.63% agreed to merge in a cash-and-stock transaction valued at about $582.2 million, in a deal announced on Nov. 18. On Nov. 5, Allegiance Bancshares Inc. ABTX, -1.08% and CBTX Inc. CBTX, -1.04% agreed to an all-stock merger of equals worth $845.6 million, as the 18th-largest bank deal of 2021.

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