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Your bank could merge with a bank, acquire another bank or be acquired by another bank. Sometimes the largest banks become even larger through these deals. Or a bank failure could cause consolidation.
Stephen A. Rhoades, "Bank Mergers and Industrywide Structure, 1980–1994," Washington: Board of Governors of the Federal Reanuary 1996. ( Staff study 169 ) Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: Board of Governors of the Federal Reserve System, May 2004.
Glass–Steagall insisted that investment and retail banking were performed by completely separate organisations. More recent legislation in Europe has concentrated on setting up legal barriers between different divisions of the same bank, to protect retail deposits from investment losses; Liikanen required the biggest investment divisions to hold their own capital for trading purposes.
Citigroup did not block the merger, but indicated they would seek damages of $60 billion for breach of an alleged exclusivity agreement with Wachovia. [14] The merger created a coast-to-coast super-bank with $1.4 trillion in assets and 48 million customers and expanded Wells Fargo's operations into nine Eastern and Southern states.
Sovereignty and an Empty Purse: Banks and Politics in the Civil War (Princeton University Press. 1970). Klebaner, Benjamin J. American Commercial Banking: A History (Twayne, 1990). online; Mason, David L. From Buildings and Loans to Bail-Outs: A History of the American Savings and Loan Industry, 1831–1995 (Cambridge University Press, 2004).
The merger will create a community bank with approximately $5.2 billion in assets.
Highlighting the risk of the merger drive creating bigger troubled banks, Liaoshen Bank inherited large amount of soured assets from the acquisition of two smaller banks, resulting in its bad loan ...
A consolidated merger is a merger in which an entirely new legal company is formed through combining the acquiring and target company. The purpose of this merger is to create a new legal entity with the capital and assets of the merged acquirer and target company.