Davis Polk partner David Portilla was quoted in Reuters discussing the uptick in regional bank dealmaking so far this year. “As the interest rate and broader macro environment evolve, balance sheets will be able to more readily support M&A, which may lead to more activity,” David said.

While there has been increased political and regulatory scrutiny, David noted that the agencies were cognizant of banks’ commercial pressures. “The industry logic for banking sector consolidation is very strong and I think that is recognized by the regulators,” he said.

“US regional bank deals rise as lenders aim to bolster balance sheets,” Reuters (August 19, 2024)

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