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- W332119916 abstract "Merger mania is old news, but is it good business? In 1995 five industries topped the list for the most corporate merger-and-acquisition activity of all U.S. industries: broadcasting/entertainment; computer software; drugs and medical supplies; utilities/telecommunications; and, of course, banking. If increased M&A activity is a sign of change, then these industries are seeing the lion's share. Banking and finance, with some 330 merger deals totalling more than $73 billion last year, led all other industries. Of the 15 largest corporate mergers announced in 1995, U.S. banks accounted for five. In a year of record U.S. mergers, it was a record year for bank mergers. At year-end 1995, there were about 8,100 independent banks and bank holding companies, down from about 12,300 in 1980, according to the U.S. Comptroller of the Currency. The number of actual banks--bank charters--was about 10,000 at year-end down from 14,000 in 1980. Yes, the big banks are bigger, and community banks have had to become better at what they do, often getting bigger in the process themselves. My own feeling is that in four or five years, we'll have about 6,000-7,000 banks, still a healthy number. One result of the recent merger and acquisition activity is that an already skeptical U.S. public, and an even more skeptical press, has been asking: What's in these mergers for us? That is a reasonable question to ask. Several months ago I participated in a point-counterpoint debate in the Washington Business Journal on the subject of bank mergers. My opposite was a banking researcher with the Center for Study of Responsive Law, based in the nation's capital. In her counterpoint argument, researcher Janice Shields concluded that big bank mergers spell trouble for customers. She wrote that enormous benefits will accrue to experts in the art of the deal, at the expense of a defenseless public. I'm a community banker, so you won't find me defending the idea that ever larger banks are the only, or even the best, way to deliver financial services to consumers. However, I will defend every bank's right to merge, as I did in my counterpoint argument in the Business Journal. When done right, bank mergers have the potential to improve operating efficiency of the merging banks, enhance earnings for shareholders, and provide a broader range of services for the customers. But not every merger is going to work out that way. …" @default.
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- W332119916 date "1996-06-01" @default.
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- W332119916 title "Is Bigger Better" @default.
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