WASHINGTON–It isn’t just credit unions seeing their numbers consolidate; the banking industry is also seeing ongoing shrinkage, a new report shows.
The report by the Financial Times (FT) said the consolidation has quickened under the Trump administration and addresses “a lengthy logjam.
The average time to finalize a deal following its announcement has dropped to four months this year, the shortest since at least 1990, according to the Financial Times, which cited data from S&P Global.
Under the Biden administration the average approval time peaked at nearly seven months.
“These faster approvals are lowering what dealmakers had viewed as a significant roadblock to consolidating America’s 4,000-plus regional banks,” PYMNTS reported. “The last few months have seen deals worth more than a combined $24 billion.
$45 Billion in Deals
Close to 150 bank mergers worth around $45 billion have closed thus far in 2025, which is on pace to be the industry’s busiest year for deals since 2021, the report added.
Bigger deals, the report added, receive greater scrutiny. Capital One’s $35.5 billion acquisition of Discover took 12 months. Other recent deals include PNC’s $4.1 billion purchase of Colorado’s FirstBank and Fifth Third’s $10.9 billion all-stock acquisition of Comerica.
The Financial Times added that the consolidation narrows the space between regional players and the “Big Four” national banks: JPMorgan Chase, Bank of America, Wells Fargo and Citigroup.
