01/26/2024

Is M&A Ready for a Rebound? 

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Patrick Vernon
Senior Manager, Advisory Services

Bank M&A activity could come back in 2024, but that depends on a handful of factors including stock valuations and the interest rate environment, says Patrick Vernon, senior manager, advisory services, with Crowe LLP. Lower valuations across the industry slowed dealmaking over the past year, but a desire for more liquidity could motivate potential buyers off the sidelines. Banks with stable deposit bases — including a good mix of interest-bearing and noninterest-bearing deposits — could be attractive targets. 

Topics include: 

  • Credit Risks to Watch 
  • Impacts of Goodwill on Deals  
  • Pricing Expectations 
  • Buying Failed Banks 

Bank Director’s 2024 Bank M&A Survey, sponsored by Crowe, studies current growth strategies, including banks’ appetite for deals and investments in organic growth. The survey results are also explored in the 1st quarter 2024 issue of Bank Director magazine.

WRITTEN BY

Patrick Vernon

Senior Manager, Advisory Services

Patrick Vernon is a senior manager of advisory services at Crowe LLP, focusing on transaction and valuation services for financial institutions and investor groups regarding select asset acquisitions and whole bank and financial service firm acquisitions. Mr. Vernon has extensive experience with CECL implementation projects and solutions including risk assessment, model documentation and theory and technology solution evaluation. He has a background in external audit engagements with a primary focus on allowance for loan losses.

Mr. Vernon has been helping financial institutions understand and adopt CECL since 2017 and has worked with over 50 different institutions ranging in size from $500M – $50B. He has experience in modeling with all of the major vendor CECL platforms as well as various custom in-house methodologies and worked internally at Crowe to develop Credit360 for CECL, a proprietary methodology used to execute, test and validate CECL models.