The company has revised its near-term forecasts for reducing expenses, citing delayed branch closings and a decision to spend more time testing systems ahead of conversion and integration.
The promise of post-closing payments encourages top executives to pursue deals that aren’t necessarily in their self-interest, but investors may eventually raise concerns that the packages are expensive and too focused on the short term.
A fifth of U.S. banks may lack the stock multiples it takes to pursue acquisitions, so they're looking for other ways to improve results and deploy capital.
CenterState and South State are the latest regionals to announce a deal driven heavily by the need to compete with larger banks that can afford to spend more on cutting-edge technologies.
