The Ohio company said low unemployment is keeping business clients from expanding, while higher asking prices are forcing it to avoid bank acquisitions.
The $2.9 billion deal is the Georgia company's first traditional whole-bank acquisition since 2006. It is also the year's second-biggest bank acquisition.
Despite some green shoots in key credit segments, total loan growth was light at many banks last quarter. Rate hikes are threatened, and deposits will get pricier — where will the earnings come from?
