Robert Wilmers joined M&T in 1983 when it had just $2 billion of assets and built into a regional powerhouse with $120 billion of assets and operations in a dozen states.
For the first time in nearly nine years, an acquirer of a failed bank agreed to purchase only the institution’s insured deposits, making it likely that some customers will not recoup all of their uninsured funds.
The number of deals, overall dollar volume and premiums are on pace to top those from a year earlier, giving hope that even more consolidation will take place in 2018.
The holding company structure makes sense for large banks with complex business models and small banks looking to bulk up through acquisitions. But for a large swath of banks in the middle, the benefits are harder to spot.
