Magazine : Archives : 4th Quarter 2018

Market Intelligence

The Road Ahead How have bank deregulation and the tax cut impacted the bank M&A market?Both changes were already being felt in 2017 and carried over into 2018 because of expectations that the reforms would become reality. Taxes at the personal level really haven’t motivated sellers directly, but the additional income that the tax cuts have generated for the buyers has created additional capital, and that has made it more possible for buyers to be able to compete for cash deals. The positive impact of both tax and regulatory reform were already present in the market pricing for banks, so...