Listen: Street Talk | Episode 72: Desire to compete with megabanks driving more US regional bank M&A – KBW CEO

The current environment is highlighting the value of scale and should encourage more bank M&A activity, including larger transactions, according to KBW CEO Tom Michaud.

The downturn in 2020 has weighed on bank M&A activity, on pace to drop 57% from year-ago levels. Lower bank valuations certainly have not helped stoke more deal activity, but Michaud said recessions are never a good time for healthy bank M&A given concerns about credit quality