Business
Bank M&A activity has nearly come to a screeching halt and deal announcements are unlikely to pick up soon. Still, Rick Childs, partner in advisory services group at Crowe LLP, said in the episode that a number of would-be cash buyers are engaging in deal talks but have agreed to longer exclusivity periods with targets given the uncertainty over the economy, asset quality and capital levels at both institutions. Childs also discussed how banks are approaching due diligence in the current environment as well as the possibility of banks terminating or recording goodwill impairments on deals announced before the COVID-19 pandemic.