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 |
|---|---|---|
| Jan 1, 2023 | Community Alliance Credit Union | People Driven Credit Union |
| Jan 1, 2023 | Potomac Federal Credit Union | Wepco Federal Credit Union |
| Jan 1, 2023 | U T U Federal Credit Union | Best Reward Federal Credit Union |
| Jan 1, 2023 | Dakota Telco Federal Credit Union | United Savings Credit Union |
| Jan 1, 2023 | The Farmers National Bank of Emlenton | The Farmers National Bank of Canfield |
| Jan 1, 2023 | Regent Executive Center I, LLC | Regent Bank |
| Jan 1, 2023 | PCSB Financial Corporation | Brookline Bancorp, Inc. |
| Jan 1, 2023 | Lincolnway Community Bank | Covantage Credit Union |
| Jan 1, 2023 | Mechanics Banc Holding Company | BankFirst Capital Corporation |
| Jan 1, 2023 | Grandsouth Bancorporation | First Bancorp |
| Jan 1, 2023 | First Citrus Bank | Dfcu Financial |
| Jan 1, 2023 | GrandSouth Bank | First Bank |
| Jan 1, 2023 | Heritage Southeast Bancorporation, Inc. | The First Bancshares, Inc. |
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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