By Rob Chrisman

Posted To: Pipeline Press

Mergers and acquisitions valued at $811.8 billion have been announced this quarter globally, up 21% compared with Q1 of 2014, according to Thomson Reuters’ data. For some companies the deal activity in the first quarter was driven by continuing cash accumulation at companies, CEO confidence, inexpensive debt financing and pressure from activist shareholders. For many banks and lenders it is simply the cost of doing business. Seacoast National Bank ($3.1B, FL) will acquire Grand Bank & Trust of Florida ($208mm, FL) for about $16.2mm in cash and stock or roughly 1.2x tangible book. SBM Financial, Inc. (Gardiner, ME) has agreed to merge with Camden National Corporation (Camden, ME). The Federal Savings Bank is pleased to announce that it has completed the previously announced merger with Baytree…(read more)

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Via:: Merger Mania; Summary of the Trends Impacting Lenders and Realtors

      

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Written by : Mortgage News Daily

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