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TD Bank’s spending on acquisitions in the US in the last five years |
The latest sale of failing US banks by the Federal Deposit Insurance Corp points to a return to traditional M&A methods and highlights the system’s improving health, say bankers. In April, TD Bank bought three Florida banks with loss-share agreements with the FDIC that were less attractive than in previous deals. "There is still such a bank-buying frenzy that acquirers are prepared to pay the premiums but these are no longer golden ticket deals," says an M&A adviser who prefers to remain anonymous as he is advising the FDIC on deals. "We expect the changes in deal premiums will lead to traditional unassisted bank M&A," he says.
TD Bank acquired AmericanFirst Bank, First Federal Bank of North Florida and Riverside National Bank of Florida. Together the...
