Dealmaking through early November is slightly ahead of last year's clip thanks to a recent flurry of merger announcements. However, excluding BB&T-SunTrust, values and multiples are shrinking.
First Horizon and Iberiabank solidified their resolve after BB&T and SunTrust announced their merger. Bryan Jordan, First Horizon's CEO, says he's convinced the earlier deal is having a similar influence at other regional banks.
The Tennessee company, which was outbid in an effort to buy a North Carolina bank earlier this year, will pay $41 million for a branch network in the middle part of its home state.