In April, SMG stock hit an all-time . 1. Prior to the pandemic, Regions had seen its total deposit volume shrink between 2016 and 2019. Wyomissing Valley Bank, Temple State Bank, Mount Penn Trust Company, Reamstown Exchange Bank, Schuylkill Trust Company. Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Better Buy in 2023: Apple Stock vs. Amazon Stock, Tesla Just Cut Vehicle Prices by 20%. Regional banks are in many cases seeking economies of scale to invest in technology.While larger deals between publicly traded banks continue to drive M&A, smaller players are also taking part among the roughly 5,000 banks in the U.S. including small community banks. Financial Services Company. That will put it behind Capital One and, perhaps more importantly, it will still remain behind its Canadian rival, TD Group (out of Toronto). Branch locations in attractive or growing markets. In July 1971, the holding company began operations with 40 locations in Birmingham, Huntsville and Montgomery. Regions Investment Solutions is a marketing name of Cetera Investment Services. Regions Bank Launches Business Travel Solution for Corporate Banking Clients, Regions Next Step Survey Finds Many Americans Arent Prepared for Medical Expenses, Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates, Regions Bank Introduces Tuition-Free Education Benefits to All Associates through Guild, Regions Bank Named Military Friendly Employer and Military Spouse Friendly Employer, Expanding Financial Inclusion: Regions Bank Announces ATM Agreement with Community Development Financial Institutions, Regions Financial Scheduled to Participate in Goldman Sachs U.S. Financial Services Conference, Are Not Insured by Any Federal Government Agency, Are Not a Condition of Any Banking Activity. There are a couple things on that list worth mentioning. The company was trading around 45% of book value at Thursday's close, and was the second-largest bank on KBW's list of dividend-cut candidates. The 2022 MCD merger Act must be assessed in relation to the constitutional spirit of crafting empowered local institutions through well-demarcated functional and financial domains, reinforced by robust democratic decentralisation that gives citizens a voice in the decision-making process. 3. Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing On 02/04/2022 REGIONS BANK AS SUCCESSOR BY MERGER WITH UNION PLANTERS BANK NA filed a Contract - Debt Collection lawsuit against CORVEY, JOHN S JR. Investors Bancorp. SBCF Powerful data and analysis on nearly every digital topic. USB, In recent months, the regional banking space has already experienced lots of change after several high-profile acquisitions. All deposit data is from the FDIC as of June 30, 2019, the most recent data available, and it shows the percentage of market share a given bank has in terms of deposits in a given state. The SPDR S&P Regional Banking ETF The Cleveland-based institution has a wonky retail presence in 15 different states including Alaska, as well as states in New England and on the West Coast. Regions Bank acquired EnerBank USA 2022. Does PNC Have the Best Dividend Among Its Banking Peers? That said, any acquiring bank is likely to get a good deal on this fixer-upper, and if a bank is looking to grow, HSBC's U.S. banking franchise is one of the largest opportunities out there with more than $196 billion in total assets. Learn More. Regions Financial (RF 1.49%) is another bank that never recovered from the Great Recession, although it recently saw its stock trade at a new five-year high. and Bank of America Corp. First National Bank of Pennsylvania, which has $35 billion in assets, recently traded around 49% of book value. PNC, You should consult privacy disclosures at the linked website for further information. In this role, Speir will lead the bank's enterprise-wide strategic planning process and corporate development initiatives. S&P Global Market Intelligence now projects $63.3 billion in bank mergers in 2021, up from $27.8 billion in 2020 and $55 billion in 2019, according to deloitte government and public services salary. ET, HSBC Holdings plc (HSBC) Q1 2022 Earnings Call Transcript, HSBC Holdings plc (HSBC) Q4 2021 Earnings Call Transcript, HSBC Holdings plc (HSBC) Q3 2021 Earnings Call Transcript, HSBC Holdings plc (HSBC) Q2 2021 Earnings Call Transcript, HSBC HOLDINGS PLC (HSBC) Q1 2021 Earnings Call Transcript, Social Security: 4 Big Changes Washington Wants to Make, Warren Buffett Is Raking in $4.84 Billion in Annual Dividend Income From These 6 Stocks, Better Buy in 2023: Apple Stock vs. Amazon Stock, Tesla Just Cut Vehicle Prices by 20%. Regions Financial has acquired 7 companies, including 5 in the last 5 years. ), the Change in Bank Control Act (12 U.S.C. for $149 million to add the smaller firms investment banking presence in San Francisco and New York. New Jersey Bank Mergers as of 7/7/2022: Order List by: Bank Acquired, Date Completed download list as spreadsheet: Bank Being Acquired: City: Acquiring Bank: City: Date Completed: Name of Surviving Bank The case status is Pending - Other Here are four banks with more than $20 billion in assets that recently had low P/TBVs. Regions Bank Launches Business Travel Solution for Corporate Banking Clients - PDF, opens in a new window, Regions Next Step Survey Finds Many Americans Arent Prepared for Medical Expenses - PDF, opens in a new window, Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates - PDF, opens in a new window, Regions Bank Introduces Tuition-Free Education Benefits to All Associates through Guild - PDF, opens in a new window, Regions Bank Named Military Friendly Employer and Military Spouse Friendly Employer - PDF, opens in a new window, Expanding Financial Inclusion: Regions Bank Announces ATM Agreement with Community Development Financial Institutions - PDF, opens in a new window, Regions Financial Scheduled to Participate in Goldman Sachs U.S. Financial Services Conference - PDF, opens in a new window, Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023, Regions Bank Increases its Prime Lending Rate, Regions Bank Announces Creation of Franchise Lending Team, Simpler Payments. Even in the ultra-low-rate environment in 2020, this is terrible. New Jersey Bank Mergers as of 1/16/2023: Order List by: Bank Acquired, Date Completed download list as spreadsheet: Bank Being Acquired: City: Acquiring Bank: City: Date Completed: Name of Surviving Bank Publi le : . Possible undisclosed merger or acquisition in progress. National Bank of Commerce. Invest better with The Motley Fool. Loan portfolio mix. Regions Financial. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. Berks County Trust Company (1964 as American Bank and Trust Co or American Bankcorp) Wells Fargo. Jun 24, 2021. The implication from the latest blockbuster bank-merger news is clear: Goliath is Winning. However, as I mentioned, the banking environment only seems to be getting more competitive, so KeyCorp may be interested in exiting for the right price. Mega Bank merger List 2022. The annual strategic planning session can be a good time to begin a thoughtful, vigorous discussion of the M&A strategy. The names that intrigue me most areComerica (CMA -1.74%), Regions Financial (RF -0.49%), Citizens Financial Group (CFG 1.05%),F.N.B. BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Regions Bank on Tuesday announced Brad Kimbrough will retire on Feb. 28, 2022 , following a nearly 29-year career at the bank , the last 14. how to use snapchat filters on whatsapp video call on iphone. As you can see below, the acquisition of Citizens would also come with a lot of good geographic diversity. M&A Factors: For banks with $1B and less in assets, factors in deciding whether to acquire another bank include: Deposit base. In mid-December 2021 the Justice Department Antitrust Division announced that it wanted additional public input on new questions by Feb. 15 . 10 Biggest M&A Deals of 2022: Scotts Miracle-Gro (SMG) Source: Casimiro PT / Shutterstock.com. Although this bank is farther east than most of the others, it does not surprise me to see it as a target, considering PNC has been eying the Boston market for quite some time. So, the question we have is, did BMO Financial (parent of the mega-bank 5-Star BMO Harris Bank, N.A., Chicago, IL) wait too long to come to an agreement to acquire 5-Star Bank of the West, San Francisco, CA? Title. That acquisition has proven to be a success, and Demchak has made it clear he would like to replicate it. The specific focus of that effort is the 1995 Bank Merger Competitive Review Guidelines, which, in spite of their vintage, remain the current standards for evaluating the specialized field of bank mergers. Making the world smarter, happier, and richer. This lawn seed and lawncare provider had a wild ride in 2021. Non-bank lenders such as Rocket Mortgage are drawing mortgage business away as well.Id be surprised if theres not in the next year or to at least two or three significant deals in the regional bank space, including the U.S. bank subsidiaries of foreign banks from Canada, Japan and Europe, Lyons said.However, tie-ups between megabanks such as J.P. Morgan Chase Bank of America - cut 152 jobs in Sunrise, FL. Company Information. Other potential banks that could be in the market for a deal are Providence, Rhode Island-based Citizens Financial Group(CFG 1.05%)and Cincinnati-based Fifth Third Bancorp (FITB -2.24%), but neither trade at superior multiples like U.S. Bancorp, and ultimately, high bank valuations could make KeyCorp and Regions too expensive. The acquisition of KeyCorp would bring a lot of geographic diversity with it. 1. Addresses for comments differ from those for information requests. Ten of its former subsidiary banks are listed on page 7. Analysts from SunTrust and Keefe, Bruyette & Woods have speculated on several banks PNC might be interested in purchasing. First, Wells Fargo already owns more than 10% of all bank deposits in the United States. Oil and gas companies continue to merge frequently in 2021 and the trend continued early this year with operations focusing on the Permian Basin in southeast New Mexico and West Texas. Any unauthorized use of its content, logos, name, and/or Star-ratings is forbidden. ) Citigroup Inc. When Grayson Hall took the helm of Regions Financial Corp. in April 2010 at the end of the financial crisis, the bank was still swamped with BB&T and SunTrust's deal is the largest global bank merger in more than a decade, according to Bloomberg. Terms of the acquisition were not disclosed. The bank already hinted it plans to pursue more deals in the Lone Star State. May has already been a busy month for small- and mid-cap bank dealmaking. Release Date: July 8, 2022. BauerFinancial, Inc. is not a financial advisor; it is an independent bank research firm. Through Thursday's close, it traded for about 67% of book value, and it's onKBW's list of banks that may soon cut its dividend. Price as of January 18, 2023, 10:54 a.m. It would also give PNC some nice tailwinds in Ohio and Indiana. In connection with this application, BAWAG Group Our US bank mergers and acquisitions table below allows you to scroll, sort, print and export the relevant merger activity. Buyer Information Seller Information Export; Date Buyer 2022-05: Bank of Idaho: 738: ID: HomeStreet Bank - 5 bran .. 7,159: WA: 2022-05: Seacoast Banking Corpora 9,682: FL: Drummond Banking Company: 985: FL: 173.0: press release. KEY, KeyCorp, which has $156 billion in assets to PNC's $412 billion, would be a big fish to land. And, its huge. S&P Global Market Intelligence now projects $63.3 billion in bank mergers in 2021, up from $27.8 billion in 2020 and $55 billion in 2019, according to figures released earlier this month. JPM, Press Release / December 13, 2022 FDIC Proposes to Modernize the Use of the FDIC Official Sign and Advertising Statement Resources . 6 min read. Citizens Financial Group The financial data obtained from these sources is consistently reliable, although; the accuracy and completeness of the data cannot be guaranteed by BauerFinancial, Inc. BauerFinancial relies upon this data in its judgment and in rendering its opinion (e.g. Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. The bank has 289 branches in Florida and close to 100 branches in Texas. Partner Adam Maier was recently featured in a Bank Director video where he provided insight into what 2022 might bring for bank mergers and acquisitions. Bank analysts want to find the next giant. The banks expect to save about $1.6 billion in annual net cost synergies by 2022. Not only that, but the bulk of its fee income is from more sustainable streams of fee income such as investment banking, trust and investment services, and cards and payments income. Jan. 6The $7.6 billion merger of M&T Bank Corp. and People's United Bank was expected to close in the fourth quarter of 2021 but is still awaiting approval from the Federal Reserve, M&T spokesman David Samberg said Wednesday. Second, Wells Fargo is still stuck in the penalty box with regulators. Headquartered in Pittsburgh like PNC, the two management teams wouldn't need to drive far for a meet-and-greet, and there could be some tremendous cost savings in a potential deal, considering the two institutions combined had more than 600 branches in Pennsylvania as of June 2019. In fact, when we began writing Jumbo Rate News in 1983, there were almost 15,000 banks in the U.S.; by the turn of the century . Theme Banking. Last week, PNC Financial Services Group (PNC -4.86%), the holding company of PNC Bank, said it would sell its entirestake inBlackRock, prompting rumors that it could soon make a big splash with an acquisition. 3 in deposit market share in the competitive Massachusetts market, and make some nice gains in Ohio, Michigan, Connecticut, and Vermont. Previously, in 2015, the Bureau ordered Regions to cease certain unlawful conduct related to its charging overdraft fees to resolve the Bureau's findings that Regions: (1 . 10 Biggest M&A Deals of 2022: Scotts Miracle-Gro (SMG) Source: Casimiro PT / Shutterstock.com. "Bank Mergers and Industrywide Structure, 1980-1994," Washington: Board of Governors of the Federal Reanuary 1996. . On Sept. 8, the bank revealed a smaller, tuck-in acquisition of JMP Group LLC Bradford Bancorp, Inc., Greenville, Illinois: to merge with Community Bancshares, Inc., and thereby indirectly acquire Community Trust Bank, both of Irvington, Illinois. 1 market share in Rhode Island and New Hampshire, and grow its No. wait too long to come to an agreement to acquire. Regulatory obstacles are clearly very high for a Wells Fargo-Goldman Sachs deal. Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023. And, on October 1st, Central Bancompany, Inc., Jefferson City, MO combined all of its subsidiary banks merging them all into certificate #12633 4-Star Central Trust Bank, Jefferson City, MO. Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. The subscription details associated with this account need to be updated. With more than $170 billion in total assets at the end of 2020,KeyCorp (KEY -1.94%) is the 20th largest bank with a presence in the U.S. That includes custodian banks, investment banks, and credit card companies. Masrani said on March 31, 2021 . Visit a quote page and your recently viewed tickers will be displayed here. The Judge overseeing this case is KEYSER , JANIS. If approved, this merger will not only dwarf them all, it will be one of the largest acquisitions in years. It has been years. Comments regarding the applications and notices must be received in writing at the Reserve Bank indicated, or at the Board of Governors, no later than the end of the public comment period. Date. If you are using public inspection listings for legal . Practices, Structure and Share Data for the U.S. Offices of Foreign Bank and Credit Union data compiled from financial data for the period noted, as reported to federal regulators. The goals are: a) ensure Americans have choices among financial institutions, and b) guard against excessive marker power. Regions Financial (RF -0.49%) is another bank that never recovered from the Great Recession, although it recently saw its stock trade at a new five-year high. Shares of First Horizon National closed at $10.88 Friday, declining 14% over the previous year. rosenhaus sports representation clients; prince harry and meghan markle full interview; jackson county, ohio news It has also divested 2 assets. It's hard to know exactly what to make of this considering Goldman justmade a small purchase itself, acquiring a boutique wealth management custodian and technology company called Folio Financial. On the Go. Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at As we already mentioned, the largest 50 bank acquisitions of 2021 are listed on page 7. Learn More. of Florida stands out as another serial acquirer as it pursues its strategy to buy smaller banks in higher growth Florida markets, Hovde Group said.Fintech on the payments side from players such as Venmo, Stripe, Square, and PayPal are less regulated and theyre taking business away from banks. bank of the west merger rumorshow to cancel execunet membership. *Average returns of all recommendations since inception. The long-awaited consolidation of banks in Europes fragmented banking market has finally begun. Checks), Regulation II (Debit Card Interchange Fees and Routing), Regulation HH (Financial Market Utilities), Federal Reserve's Key Policies for the Provision of Financial The tide might be turned if the likes of US Bancorp of Minneapolis ($488bn in assets), M&T of Buffalo ($126bn) or Birmingham, Alabama's Regions Bank ($128bn) do meaningful deals. Not only is small business lending lessened by an estimated 10%, lack of competition also engenders higher interest rates. Six U.S. bank deals have received Fed Board approval in 2022, including one deal resulting in a bank with more than $100 billion in total assets the threshold thought to be the center of regulators' increased scrutiny. Already the 19th largest bank holding company in the nation, BMO Financial has $193 billion in assets. A snapshot of banking and capital marketing M&A in 2021. Regions acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. Looking ahead, youll likely see more deals in the vein of U.S. Bancorps acquisition of MUFG Union Bank and Huntington Bancshares In 2019, Regions Bank acquired the local Highland Associates Inc., an investment firm that managed roughly $26B in client assets at the time. Regions Financial Corp. stock surged in heavy volume Tuesday, as rumors continue to surface that the Birmingham, Ala.-based bank is seeking a buyer. Zero of the companies are still active while the remaining three are now listed as inactive. Punjab National Bank (PNB) will take over Oriental Bank of Commerce (OBC) and United Bank of India (UBI) to become the country's largest lender after the State Bank of . Amala Duggirala named head of Operations and Technology. ZION, Small business lending suffers as well. This case was filed in Palm Beach County Courts, Main Branch located in Palm Beach, Florida. BauerFinancial is a registered trademark. Regions serves customers across the South, Midwest and Texas. ? remain unlikely given deal hurdles related to antitrust and central bank guidelines.Even apart from the antitrust rules, it would hard for a large bank merger to take place between globally systemically important banks (GSIBs). But C&I loans make up over half of the bank's total loan book. Kate Danella, head of Strategic Planning, will also lead Consumer Bank Products and Origination Partnerships. To the maximum extent allowed by law, PCBB, its employees, partners, and vendors shall have no liability or responsibility whatsoever for any injury or damages whether direct, indirect, consequential, incidental, punitive or otherwise arising in connection with Bank Mergers and Acquisition matrix. We analyze banks and credit unions. Mega Bank Merger List 2022. Shares in Regions, which also soared three weeks ago amid heavy trading, rose $2.375 to $48 on volume of 634,600 shares, the third- most-active day for the stock in the past year. See also: Big U.S. companies to kick off post Labor Day borrowing boom. also operates in Maryland, Ohio, North Carolina, and Washington, D.C. Comerica, at roughly $76 billion in assets, recently traded around 62% of book value. Plus, there are probably lots of cost-savings opportunities. Market pressures and a regulatory rollback have triggered a wave of regional bank M&A that appears likely to continue in the year ahead. Release Date: January 6, 2023. If youre lucky enough to own individual shares of a bank being bought, youll likely get a boost in share price, since acquirers typically offer a premium price to shareholders of a target company. Goldman Sachs ( GS) has lost a quarter of its value so far this year and trades at just 80% of its book value. has also outperformed the S&P 500 with a 19% rise thus far in 2021. PNC has been planning to open branches in Houston and Dallas. This lawn seed and lawncare provider had a wild ride in 2021. Examples of acquirers in this corner of the market include Investar Holding Corp JPMorgan added it expects employees to resume their in-office schedules by Feb. 1. houses for rent in larchmont norfolk, va; oakton high school renovation; green washington license plate; May 25 2022. family farm and home chickens. The Buffalo, N.Y.-based bank, with $39 billion in The headquarters of First National July 4, 2022. regions bank merger rumors 2022 April 1, 2022 posted by Category: 3100 duraleigh rd raleigh, nc 27612 cortex hardware wallet 6 min read. Similar to KeyCorp, its returns are not bad, but the bank has had very little loan growth over the last five years. Branch Banking' for its Seshadripuram Branch in Bangalore. Adani and Holcim India (ACC & Ambuja Cement) In the most recent acquisition by the Adani Group, Gautam Adani cemented his position in the construction segment by purchasing two of Switzerland-based Holcim's ACC and Ambuja Cements. Regional banks will continue to comprise a larger portion of sellers compared to prior years. KeyCorp could also be an attractive acquisition candidate because it offers an acquirer a great source of fee income. Speaking Wednesday at an investor conference in New York, Regions President and CEO John Turner ruled out the possibility of acquiring another bank, saying that sellers' asking prices are too high and that a deal would distract the $125 billion-asset company from its priorities of improving efficiency and returning . Jun 27, 2019. And more. When Bancorpsouth Bank acquired Cadence Bank on October 29th, it also took the Cadence Bank name. Since the Great Recession, it's been a long slog for KeyCorp and the bank still trades way down from levels it traded at prior to the Great Recession. H.8, Assets and Liabilities of U.S. 1841 et seq. Managing Editor, Birmingham Business Journal. 1 deposit market share in Michigan. The deal excludes MUFG Union Banks corporate and investment bank, but it adds more than 1 million consumer customers and about 190,000 small-business owners on the West Coast, as well as about $58 billion in loans and $90 billion in deposits. Wells Fargo closed at $22.53 on Tuesday, its weakest finish since June 2009, long before the 2016 fake-accounts scandal. To do this, the board needs an awareness of where the institution fits into the marketplace and who some likely targets or buyers might be. Addresses for the Board and the Federal Reserve Banks are listed at the end of this release. Facing competition from megabanks and financial technology players, regional banks and midsize lenders find themselves in a mood to mingle in 2021. Why would you want to double down in this space? asked Nicholas Colas, co-founder of DataTrek Research. Regions Bank Provides Free Resources to Help Stop Financial Exploitation StreetInsider.com Top Tickers, 7/13/2022. According to the Alabama State Banking Department, the bank closed 50 branches and four loan/deposit . ET, Regional Banks Could Face New Regulations: What You Need to Know, PNC Financial Services (PNC) Q2 2022 Earnings Call Transcript, This Bank Stock Is a Must-Own for Any Dividend Investor. Microsoft confirms plans to lay off about 10,000 workers as tech companies cut back, Recession or not, Wall Street still expects inflation to produce record profit margins, with more on the way, CDC to investigate safety signal for Pfizers updated COVID booster, Tesla earnings preview: Price cuts in focus as stock hovers around 2-year low. The bank merger market was very active in 2021, including some very large transactions involving the pending sales of Bank of the West and MUFG Union Bank. KeyCorp also has an investment bank division that brought in $116 million in fees in the first quarter of the year, and $181 million in the fourth quarter of 2019. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. which is expected to wade back into acquisition mode after swallowing up Alabama-based lender Cheaha Financial Group Inc. earlier this year, according to analysts at Hovde Group. Wells Fargo closed at $22.53 on Tuesday, its weakest finish since June 2009, long before the 2016 fake-accounts scandal. Meanwhile, Citi left its timeline considerably more vague. New York Community Bancorp also pays a generous 6.7% dividend, which Poonawala says is safe given the banks opportunity for long-term earnings growth. 1841 et seq. More banks could pursue to sales as they see some of their strong peers decide to partner with other institutions. However, one thing to remember is that banks are not bought, they are sold, meaning that the bank getting acquired typically needs to raise its hand if it wants a deal to happen. This kind of income tends to fare better in an economic downturn or low-interest rate environment than net interest income from loans. Bank of Montreal, Montreal, Quebec, Canada; and BMO Financial Corp., Wilmington, Delaware; to acquire BancWest Holding Inc., and thereby indirectly acquire Bank of the West, both of San Francisco, California. Terms, Statistics Reported by Banks and Other Financial Firms in the Here are four banks with more than $20 billion in assets that recently had low P/TBVs. Regions Financial Corporation, formerly known as First Alabama Bancshares, was founded on July 13, 1971 with the merger of three Alabama banks: First National Bank of Montgomery, Alabama (opened 1871), Exchange Security Bank of Birmingham, Alabama (opened 1928), and First National Bank of Huntsville, Alabama (opened 1856). Jun 24, 2021. The banks also claimed that they will be able to innovate . The order went on to say that communities of color and low-income communities are disproportionately affected by the resulting branch closures. Here are four banks with more than $20 billion in assets that recently had low P/TBVs. merged with canara bank. 6 among the nation's banks with $560 billion in assets and places the bank in 29 of the top 30 markets . Guaranteed Rate laid off more employees on Wednesday, May 11, 2022. MTB, very carefully. . Bram Berkowitz has the following options: long September 2021 $30 calls on Wells Fargo. Three of the major U.S. banks -- JPMorgan Chase (JPM -1.14%), Bank of America (BAC -1.62%), and Wells Fargo (WFC 0.12%) -- already own close to or more than 10% of all U.S. deposits and therefore can't acquire another depository institution by law. Investors Bancorp (NASDAQ: ISBC) is a $26.6 billion asset bank based in New Jersey. In 2022, S&P expects at least $60 billion in M&A bank activity. Bram Berkowitz has no position in any of the stocks mentioned. 12/28/12, Michael Watson, individually, and as trustee, Lindon, Utah, with Matthew Mitton, as special trustee, Salt Lake City, Utah; Chad Patten, Lehi, Utah; and Kestin Wilkinson, Orem, Utah; all as a group acting in concert, to retain voting shares of Capital Community Bancorporation, Inc., and thereby indirectly retain voting shares of Capital Community Bank, both of Provo, Utah. 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