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Credit unions have proven themselves to be eager buyers of community banks, and this year is no exception. Already, more credit unions have entered deals to buy banks in 2024 than in all of 2023, when 11 such deals were announced.
The trend is a lightning rod for controversy in the banking industry, whose representatives argue that credit unions — due to their tax-exempt status — have an unfair advantage in the M&A market. But advocates of these deals note that the banks are willing sellers, and that these acquisitions happen only because banks can’t find other banks to merge with in their markets.
American Banker is tracking these deals as they happen, and will update this list as more are announced. Asset sizes and other details reflect the date of each acquisition’s announcement.