Independent Banker - September 2023 - 36

PORTFOLIO CHECKS & BALANCES
Are changes to
bank M&A rules
on the horizon?
The Department of Justice and other banking agencies are
evaluating a new potential M&A framework. What does this
mean for community banks? By Jenna Burke
little over a year since the
Federal Deposit Insurance
Corporation (FDIC) first issued a
request for information on bank
mergers and acquisitions under the
Bank Merger Act, the Department
of Justice (DOJ) and leaders within
the federal banking agencies are
expressing interest in updating
existing M&A rules.
A
ICBA is working to ensure that any
new regulatory framework promotes
a strong community banking industry
and protects local communities.
Bank mergers are scrutinized under
DOJ Bank Merger Guidelines that
were last updated in 1995, when the
banking industry looked very different.
As ICBA has repeatedly pointed out,
this framework is outdated and no
longer reflects either the realities of the
competitive field or the advances in
mobile and online banking that have
taken place since 1995.
These guidelines reflect an era
when there were no fintechs and
much smaller credit union and Farm
Credit System (FCS) competition, and
interstate branching had just recently
been introduced. The seven largest
U.S. banks didn't yet have the same
combined market share of deposits as
the rest of the banks combined.
Today, this outdated framework
often delays or even prevents
community bank mergers that would
preserve community bank presence
in communities, especially small
rural communities, while all too often
green-lighting megamergers of toobig-to-fail
banks.
Renewed M&A interest
In June, assistant attorney general
Jonathan Kanter once again
shined a spotlight on bank M&As
in a speech where he said that
it's time " to take stock of how the
department is fulfilling its statutory
role in bank merger enforcement "
36 // ICBA Independent Banker // September 2023
Photo by Tada Images/Adobe

Independent Banker - September 2023

Table of Contents for the Digital Edition of Independent Banker - September 2023

Contents
Independent Banker - September 2023 - Cover1
Independent Banker - September 2023 - Cover2
Independent Banker - September 2023 - Contents
Independent Banker - September 2023 - 2
Independent Banker - September 2023 - 3
Independent Banker - September 2023 - 4
Independent Banker - September 2023 - 5
Independent Banker - September 2023 - 6
Independent Banker - September 2023 - 7
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Independent Banker - September 2023 - Cover3
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