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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.

120
Banks acquired
10 bought by a credit union
157
Credit unions merged
NIC, credit unions as the acquired side
65
Holding companies
Bank holding companies merged
363
All merger records
2023 in US banking ›

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 State Assets Acquirer
May 27, 2023 MUFG Union Bank, National Association CA $99.96B U.S. Bank N.A.
Feb 2, 2023 Bank of the West CA $91.58B BMO Bank N.A.
Mar 1, 2023 Columbia State Bank WA $20.26B Columbia Bank
Dec 1, 2023 Banc of California, National Association CA $9.24B Banc of California
May 20, 2023 First Bank & Trust TX $2.95B HTLF Bank
Aug 21, 2023 New Mexico Bank & Trust NM $2.59B HTLF Bank
Feb 1, 2023 Professional Bank FL $2.59B Seacoast National Bank
Jul 1, 2023 Community Bank of the Chesapeake MD $2.46B Shore United Bank, N.A.
May 1, 2023 FirstCapital Bank of Texas, National Association TX $2.14B Prosperity Bank
Oct 10, 2023 Dubuque Bank and Trust Company IA $1.88B HTLF Bank
Jan 3, 2023 Progress Bank and Trust AL $1.76B United Community Bank
Jan 1, 2023 Heritage Southeast Bank GA $1.58B The First Bank
Aug 12, 2023 Salisbury Bank and Trust Company CT $1.56B NBT Bank, N.A.
May 1, 2023 Limestone Bank, Inc. KY $1.49B Peoples Bank
Dec 2, 2023 Blackhawk Bank WI $1.47B First Mid Bank & Trust, N.A.

Biggest bank failures by assets ›

Credit union mergers in 2023

157 credit unions merged into another institution. NCUA 5300 asset figures are not loaded for 2023.

Effective Merged credit union State Surviving institution
Jul 1, 2023 First United Credit Union MI North Central Area Credit Union
Jul 1, 2023 Health Center Credit Union GA Georgia's Own Credit Union
Jul 1, 2023 Winchester Federal Credit Union MA Members Plus Credit Union
Jun 30, 2023 Local 461 Federal Credit Union GA Brosnan Yard Federal Credit Union
Jun 12, 2023 Northwest Community Credit Union OR Peak Credit Union
Jun 1, 2023 RTN Federal Credit Union MA Brightbridge Credit Union
Jun 1, 2023 Freedom First Credit Union OH Bridge Credit Union Inc.
Jun 1, 2023 J D M H Federal Credit Union PA Elliott Community Federal Credit Union
Jun 1, 2023 Greater Salem Employees Federal Credit Union MA St. Jean's Credit Union
Jun 1, 2023 Self Reliance Baltimore Federal Credit Union MD Ukrainian Selfreliance Federal Credit Union
Jun 1, 2023 Community United Credit Union OH Pse Credit Union, Inc.
May 1, 2023 Novamont Employees Federal Credit Union WV First Priority Federal Credit Union
May 1, 2023 Independence Federal Credit Union MO United Consumers Credit Union
May 1, 2023 I C S Federal Credit Union NY Good Neighbors Federal Credit Union
May 1, 2023 Sequoia Federal Credit Union CA Premierone Credit Union
May 1, 2023 Troy Area School Employees Federal Credit Union PA First Heritage Federal Credit Union
May 1, 2023 Davenport Police Department Credit Union IA The Family Credit Union
May 1, 2023 Vermillion Federal Credit Union SD Voyage Federal Credit Union
May 1, 2023 Girard Credit Union, Inc. OH Associated School Employees Credit Union, Inc.
May 1, 2023 St. Gabriels Federal Credit Union DC WSSC Federal Credit Union
May 1, 2023 Kemba Peoria Credit Union IL Gale Credit Union
Apr 30, 2023 Dillonvale Federal Credit Union OH Ohio Valley Community Federal Credit Union
Apr 29, 2023 Bridgeport City Employees Federal Credit Union CT Sikorsky Financial Credit Union, Inc.
Apr 1, 2023 Stamford Postal Employees Federal Credit Union CT America's First Network Credit Union
Apr 1, 2023 Muncie Post Office Credit Union IN Financial Center First Credit Union

Credit union directory ›

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 State Acquirer
Jan 1, 2023 Community Alliance Credit Union MI People Driven Credit Union
Jan 1, 2023 Potomac Federal Credit Union MD Wepco Federal Credit Union
Jan 1, 2023 U T U Federal Credit Union OH Best Reward Federal Credit Union
Jan 1, 2023 Dakota Telco Federal Credit Union ND United Savings Credit Union
Jan 1, 2023 The Farmers National Bank of Emlenton PA The Farmers National Bank of Canfield
Jan 1, 2023 Regent Executive Center I, LLC OK Regent Bank
Jan 1, 2023 PCSB Financial Corporation NY Brookline Bancorp, Inc.
Jan 1, 2023 Lincolnway Community Bank IL Covantage Credit Union
Jan 1, 2023 Mechanics Banc Holding Company MS BankFirst Capital Corporation
Jan 1, 2023 Grandsouth Bancorporation SC First Bancorp
Jan 1, 2023 First Citrus Bank FL Dfcu Financial
Jan 1, 2023 GrandSouth Bank SC First Bank
Jan 1, 2023 Heritage Southeast Bancorporation, Inc. GA The First Bancshares, Inc.

Bank mergers by year

·

Year Merger records
2026 360
2025 433
2024 314
2023 363
2022 432
2021 437
2020 437
2019 547
2018 643
2017 608
2016 655
2015 766

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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