Bank Notes: May 2021 Bank Notes: May 2021 Olsen Palmer May 26, 2021 Bank M&A is officially back: monthly deal announcements hit a 16-month high in April 2021, matching the average monthly deal count seen in the pre-COVID period of full-year 2019. Indeed, the aggregate deal value announced in April alone – almost $14 billion – was approximately 50% of the total deal value announced in all of 2020. Transaction pricing has also rebounded sharply. The median price-to-tangible book multiple and median price-to-earnings multiple (trailing twelve months) among deals announced in April 2021 were both virtually identical to the pre-COVID median seen in full-year 2019. Momentum in the bank M&A arena, which began building in the fall of 2020, has only accelerated in 2021 as a convergence of factors are increasingly driving acquirer demand and seller supply alike. We anticipate the pace of deal announcements to swell even further in the quarters ahead particularly given the headwinds challenging bank earnings. Finally, on April 1st, Durand Bancorp Inc. agreed to be acquired by High Point Financial Services Inc. while on April 23rd, Mackinaw Valley Financial Services agreed to be acquired by First Bancorp of Taylorville, Inc. (party advised by Olsen Palmer indicated in bold). Olsen Palmer remains one of the top 3 bank M&A advisors nationwide according to S&P Global, based on the number of transactions advised upon over the last twelve months. For assistance with answering questions or if we can provide additional information, please feel free to contact us. Contact: info@olsenpalmer.com Bank Notes: April 2021 Olsen Palmer April 19, 2021 The bank M&A marketplace gathered steam in March, continuing the arc of the recovery in dealmaking that began in the 2nd half of 2020 and has gained momentum since. Bank Notes: March 2021 Olsen Palmer March 15, 2021 Merger activity in the banking industry moderated somewhat in February, at least in terms of deal count; total deal value in February approached $8 billion. Bank Notes: February 2021 Olsen Palmer February 23, 2021 Dealmaking in the banking industry accelerated in January, continuing the arc of a recovery that began in the second half of 2020. Bank Notes: 2020 Year in Review Olsen Palmer January 12, 2021 As in virtually all areas of life, COVID brought substantial change to banking and to bank M&A in 2020. Bank Notes: December 2020 Olsen Palmer December 16, 2020 Merger activity tempered in November relative to prior months, a trend we attribute, at least partially, to the election timing as would-be sellers and buyers alike awaited greater visibility on the political outlook. Bank Notes: November 2020 Olsen Palmer November 16, 2020 Dealmaking in the banking industry continued to thaw in October with M&A talks freshening. Bank Notes: October 2020 Olsen Palmer October 26, 2020 September saw the continuation of the steadily accelerating recovery in bank M&A, particularly of transactions in which the seller was below $1 billion in assets. Bank Notes: September 2020 Olsen Palmer September 28, 2020 Bank M&A activity continued to thaw in August. In fact, while dealmaking activity remains decidedly below pre-COVID levels, since bottoming out in May monthly deal activity has been increasing in each successive month. Bank Notes: August 2020 Olsen Palmer August 27, 2020 The Bank M&A marketplace thawed further in July as seven whole-bank M&A deals were signed in the month. While still below the 20 or more deals seen in a typical month, July’s total was higher than June’s and a hearty bounce off the solitary deal in May. Older Posts OLSEN PALMER, 1501 M STREET NORTHWEST, SUITE 250, WASHINGTON, DC, 20005, UNITED STATES2028083306INFOR@OLSENPALMER.COM © OLSEN PALMER LLC. ALL RIGHTS RESERVED. BUSINESS CONTINUITY PLAN PRIVACY TERMS