Main Session – Industry and Bank Pricing Trends

Deposit costs appear to have peaked and net interest margins are expanding modestly, but economic uncertainty is turning the spotlight toward asset quality.  A long-awaited rebound in bank stocks in late 2024 ran up against tariff volatility in 2025 but has lead to improved bank M&A prices, as well as increased deal volume, during the first half of 2025.  This reverses the M&A trends seen since 2023 which began with a few high-profile bank failures in March of that year.  To better inform banks as they plan strategically for the future, we will study the current trends in bank performance by size and geography and discuss valuation levels for bank stocks and M&A transactions.