Banks merging is not a new concept. However, the economy, regulations and technology surrounding the banks of today have many new concepts. As a result, banks that once fought the idea of giving up their independence, have found they must adapt and change in order to continue. That change is to pool resources with other banks who find themselves in the same situation, in order to provide the technology and service that customers are coming to expect from their bank.
For more information or assistance please contact Christopher Ayers, Senior Manager, and member of Marcum's Financial Services Group.
See attached article entitled "One in Six Banks Will Have to Merge: CBA Chief Hunt" written by Jackie Stewart of American Banker for more information.