Banking Deals On the Way?
American Banker notes that Taylor Capital (Nasdaq: TAYC), Standard Bancshares, and Community Financial Services (OTC: CFIS) raised a combined $260 million in new capital. That could mean some banking deals on the way for Chicago (home to all three banks). Taylor's CEO said:
"It could be in a number of ways: [FDIC-]assisted transactions, unassisted transactions. And we also think there will be some good chances that branches will be sold in areas where we want to be."
Granted, these are some mighty small banks, but considering the push for banks of all sizes to grow their core banking businesses and increase their low-cost funding (that is, deposits), I think we can expect that deal-making won't be just a small-bank matter.