It Still Comes Down to Price
In September 2013, over 200 bank executives and directors responded to the 2014 Bank M&A Survey, which was conducted by email. Independent board members account for 46 percent of the responses, and 38 percent of participants serve as the chief executive officer of the bank. Response from publicly traded and privately held banks was almost evenly split. Thirteen percent of the respondents were from banks with $5 billion or more in assets, 24 percent from banks between $1 billion and $5 billion in assets, 18 percent from banks between $500 million and $1 billion in assets, 23 percent from banks between $250 million and $500 million in assets and 22 percent with less than $250 million in assets. The largest number of respondents, at 31 percent, came from banks in the Midwest. Just over one quarter represent banks in western states, while 23 percent represent the Southeast and 20 percent the Northeast. Full summary results of the survey are available in the research section at BankDirector.com.