
With Debt Cheaper, Expect Bank M&A Rebound
The fall opened with flurry of bank M&A in Massachusetts, and more deals could be on the horizon as the Federal Reserve follows through on promised rate cuts.
The fall opened with flurry of bank M&A in Massachusetts, and more deals could be on the horizon as the Federal Reserve follows through on promised rate cuts.
While the level of turmoil will likely vary with each of the five major mergers planned by banks based locally or with significant presence here, mutual bank leaders see opportunities to gain customers and skilled employees.
Rockland Trust Co.’s acquisition of East Boston Savings Bank will give it the size needed to stay competitive and opportunities to increase revenue, analysts say, allowing the bank to keep pace with growing rival Eastern Bank.
When Cambridge Trust Company acquires Wellesley Bank next year, the private bank will finally have a foothold in a market close to – but just outside – its reach.
William McGurk, one of the largest private shareholders in United Bank, has been outspoken about his disappointment in People’s United Bank’s planned $759 million purchase of United. But he faces a difficult path to blocking the merger.