Mergers by Year
Bank Mergers in 2023
120 banks were acquired or merged into another institution in 2023, and 157 credit unions merged, according to the Federal Reserve's National Information Center (NIC). The largest bank deal was MUFG Union Bank, National Association into U.S. Bank N.A., effective May 27, 2023; the acquired bank reported $99.96B in assets before the deal. NIC recorded 363 merger records in 2023 against 432 in 2022.
Largest bank mergers of 2023
Ranked by the acquired bank's total assets at its last call report before the effective date.
| Effective | Acquired bank | Assets | Acquirer |
|---|---|---|---|
| May 27, 2023 | MUFG Union Bank, National Association | $99.96B | U.S. Bank N.A. |
| Feb 2, 2023 | Bank of the West | $91.58B | BMO Bank N.A. |
| Mar 1, 2023 | Columbia State Bank | $20.26B | Columbia Bank |
| Dec 1, 2023 | Banc of California, National Association | $9.24B | Banc of California |
| May 20, 2023 | First Bank & Trust | $2.95B | HTLF Bank |
| Aug 21, 2023 | New Mexico Bank & Trust | $2.59B | HTLF Bank |
| Feb 1, 2023 | Professional Bank | $2.59B | Seacoast National Bank |
| Jul 1, 2023 | Community Bank of the Chesapeake | $2.46B | Shore United Bank, N.A. |
| May 1, 2023 | FirstCapital Bank of Texas, National Association | $2.14B | Prosperity Bank |
| Oct 10, 2023 | Dubuque Bank and Trust Company | $1.88B | HTLF Bank |
| Jan 3, 2023 | Progress Bank and Trust | $1.76B | United Community Bank |
| Jan 1, 2023 | Heritage Southeast Bank | $1.58B | The First Bank |
| Aug 12, 2023 | Salisbury Bank and Trust Company | $1.56B | NBT Bank, N.A. |
| May 1, 2023 | Limestone Bank, Inc. | $1.49B | Peoples Bank |
| Dec 2, 2023 | Blackhawk Bank | $1.47B | First Mid Bank & Trust, N.A. |
Credit union mergers in 2023
157 credit unions merged into another institution. NCUA 5300 asset figures are not loaded for 2023.
Every merger recorded in 2023
363 NIC merger records in 2023 involve a bank, credit union or bank holding company on at least one side, newest first.
| Date | Acquired institution | Acquirer |
|---|---|---|
| Dec 31, 2023 | United Savers Trust Credit Union | First Community Credit Union |
| Dec 31, 2023 | G P M Federal Credit Union | Texas Associations of Professionals Federal Credit Union |
| Dec 31, 2023 | Bok Financial Asset Management, Inc. | BOKF, N.A. |
| Dec 30, 2023 | Central Agency, Inc. | Farm and Home Insurance Agency, Inc. |
| Dec 27, 2023 | Bremer Investments, Inc. | Bremer Bank, National Association |
| Dec 22, 2023 | Excel Websolutions, LLC | Newtekone, Inc. |
| Dec 16, 2023 | Washington Typographic Federal Credit Union | Afl-Cio Employees Federal Credit Union |
| Dec 16, 2023 | Virginia Trailways Federal Credit Union | Virginia Federal Credit Union |
| Dec 15, 2023 | Granite Mortgage, LLC | Granite Bank |
| Dec 15, 2023 | Flagler Bank | Dort Financial Credit Union |
| Dec 12, 2023 | North Adams Bancshares, Inc. | Liberty Bancorporation, Inc. |
| Dec 9, 2023 | Peoples Trust and Savings Bank | Farmers & Merchants Savings Bank |
| Dec 9, 2023 | First Bank | Alabama One Credit Union |
| Dec 2, 2023 | Blackhawk Bank | First Mid Bank & Trust, N.A. |
| Dec 1, 2023 | Airco Federal Credit Union | Arrowhead Federal Credit Union |
| Dec 1, 2023 | Trouvaille Federal Credit Union | American Heritage Federal Credit Union |
| Dec 1, 2023 | Banc of California, National Association | Banc of California |
| Dec 1, 2023 | Elevator Federal Credit Union | Centuryfirst Federal Credit Union |
| Dec 1, 2023 | Members First Credit Union | Avestar Credit Union |
| Dec 1, 2023 | Virginia Partners Bank | LINKBANK |
| Dec 1, 2023 | Connections Bank | Connections Bank |
| Dec 1, 2023 | PacWest Bancorp | Banc of California, Inc. |
| Dec 1, 2023 | Partners Bancorp | Linkbancorp, Inc. |
| Dec 1, 2023 | Lismore Financial Services, Inc. | Westbrand, Inc. |
| Dec 1, 2023 | State Bank of Lismore | First Western Bank and Trust |
| Dec 1, 2023 | The Bank of Delmarva | LINKBANK |
| Dec 1, 2023 | Long Island City Postal Employees Federal Credit Union | Triboro Postal Federal Credit Union |
| Dec 1, 2023 | Mount Lebanon Federal Credit Union | Omega Federal Credit Union |
| Dec 1, 2023 | Kamehameha Federal Credit Union | Hawaiian Financial Federal Credit Union |
| Dec 1, 2023 | Youngstown City Schools Credit Union, Inc. | Seven Seventeen Credit Union Inc |
| Dec 1, 2023 | Delmarva Power Southern Division Federal Credit Union | Tidemark Federal Credit Union |
| Dec 1, 2023 | P.V.H.M.C. Federal Credit Union | Calcom Federal Credit Union |
| Nov 11, 2023 | The Muncy Bank and Trust Company | Journey Bank |
| Nov 11, 2023 | Muncy Bank Financial, Inc. | Muncy Columbia Financial Corporation |
| Nov 11, 2023 | Nokomis Savings Bank | Land of Lincoln Credit Union |
| Nov 6, 2023 | First National Bank of Jasper | First State Bank of Livingston |
| Nov 4, 2023 | Citizens Savings Bank | Maynard Savings Bank |
| Nov 4, 2023 | Lee County Bank | Two Rivers Bank & Trust |
| Nov 1, 2023 | Swedish American Federal Credit Union | Membersalliance Credit Union |
| Nov 1, 2023 | Cincinnati Bancorp, Inc | LCNB Corp. |
| Nov 1, 2023 | Ce Capital, LLC | The Huntington National Bank |
| Nov 1, 2023 | Ecusta Credit Union | Champion Credit Union |
| Nov 1, 2023 | Montana Health Federal Credit Union | Intrepid Credit Union |
| Nov 1, 2023 | Allegheny Health Services Employees Federal Credit Union | Omega Federal Credit Union |
| Nov 1, 2023 | First Savings Bank | The Hometown Savings Bank |
| Nov 1, 2023 | Muncie Federal Credit Union | Primetrust Financial Federal Credit Union |
| Nov 1, 2023 | Wyoming Area Federal Credit Union | Wyoming Valley Educational Employees Federal Credit Union |
| Nov 1, 2023 | Pearl District Federal Credit Union | Energy One Federal Credit Union |
| Nov 1, 2023 | Porter Federal Credit Union | Columbine Federal Credit Union |
| Nov 1, 2023 | Rutherford Postal District Employees Federal Credit Union | Greater Alliance Federal Credit Union |
Bank mergers by year
Source: Federal Reserve National Information Center (NIC) transformations, type "merger". A record counts when a bank, credit union or bank holding company is on at least one side. NIC also logs internal consolidations, such as a subsidiary bank folded into a sister bank, so a record is not always an arm's-length deal. Asset figures come from FFIEC call reports (banks) and NCUA 5300 call reports (credit unions). Credit union mergers appear in the NIC records from 2013 on.
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