Bank M&A deals slowed in 2022 and they're likely to stay that way in 2023

The news: Bank M&A deals have dropped off significantly in 2022. Just 130 were reported as of October 12, per S&P Global Market Intelligence. This contrasts with 206 deals in 2021 and an average of 258 deals in each of the five years preceding the onset of the pandemic.

Here we explore the sentiments of potential acquirers and acquisition targets who responded to the 2023 Bank M&A Survey conducted by financial institution research firm BankDirector and public accounting firm Crowe. The survey polled 250 independent directors, CEOs, chief financial officers, and other senior executives at US banks that hold less than $100 billion in assets.