Banks Are Merging, so Where Does That Leave You? | Banking Advice
Key Takeaways
- A surge of bank mergers has been announced over the past year.
- The most notable deals have come from large regional banks looking to expand their deposit base and geographic footprint.
- If your bank is acquired, you may enjoy benefits such as a wider ATM network and better technology. But watch out for branch closures, account disruptions and higher fees.
Banks made waves in 2025, announcing a rush of mergers that were highlighted by blockbuster deals involving some of country’s largest institutions. While that torrid pace has cooled slightly in 2026, several notable acquisitions have taken place, including a Florida bank’s latest move and a foreign institution’s continued push into the U.S. market.
Deals are also moving more quickly from handshake to final approval, and many customers are already feeling the impacts of mergers that were announced last fall.
Here’s a look at some of the biggest bank mergers of the past two years, and how they may affect you.
An Uptick in Major Mergers
The back half of 2025 saw a string of splashy deals and a rise in activity overall. A total of 189 bank deals were announced in that year, the most since 2021, according to S&P Global Intelligence data.
Spurred in part by a favorable regulatory environment and the need to remain competitive in an evolving banking landscape, large regional banks have been particularly active. PNC Bank in September 2025 announced plans to acquire Colorado-based FirstBank, while rival Fifth Third Bank one month later said it would be snapping up Comerica Bank and its sizeable footprint in Texas and Michigan. Later in October, Huntington Bank said it was acquiring Texas- and Mississippi-based Cadence Bank.
All three of those deals were completed by February 2026.
PNC, Fifth Third and Huntington are in a tier often called “super regionals,” one step below behemoths like Chase and Bank of America but boasting branches across multiple states and hundreds of billions in assets. Some super regionals are aggressively plotting a path to chase the major banks and each other, and in the process they’re buying other large regional banks as they expand.
“This wave of mergers is reshaping the entire banking landscape,” says J. Michael Fischer Jr., managing director at DBD Investment Bank, a mergers and acquisitions advisory firm, and the host of the “Going Beyond the Deal” podcast. “We’re watching the middle disappear, with a handful of massive national banks on one end and a smaller number of niche community banks on the other. The regional players in between are being consolidated at a rapid pace.”
Just as the 2025 deals were being finalized, another big acquisition was announced. Spain’s Banco Santander revealed plans to purchase Connecticut-based Webster Bank in a $12.3 billion deal that was completed in August, vaulting Santander Bank into the top 20 of U.S. banks by assets, according to the Federal Reserve.
Finally, Florida-based EverBank in September announced a merger with WaFd, a Seattle-based bank in a $3.9 billion deal expected to close in early 2027.
What does all this consolidation mean for you? Well, the odds are increasing that your debit card and local bank branch may soon sport a logo you’ve never seen in town before.
When your bank merges with or gets bought by another institution, you can expect changes. Your banking may improve in some ways, while you may lose some of the features you enjoyed with your old bank. You might face new fees. Branches might close. Your baseball team’s stadium may be renamed. (But you’ll still call it by the old name for at least five more years.) And you’re almost certain to deal with a few minor headaches during the transition.
Here’s what you should know about the recent bank mergers, and what you should do if your bank is involved in one.
Which Banks Are Consolidating, and Why?
Banks have been consolidating for decades, with the total number of U.S. banks steadily declining since its peak of more than 14,000 in the early 1980s to fewer than 4,000 today.
The pace of consolidation varies, often reacting to economic conditions or whether the presidential administration in office is seen as merger-friendly.
The super regional banks are using acquisitions to strengthen their positions in specific markets, especially those that are growing. Experts say this allows these banks to increase their deposit bases by building a patchwork of strongholds in strategic markets across the country. Some community banks are also acquiring nearby rivals to solidify their presence in a particular state or region.
Signs throughout the past two years have indicated that federal regulators in the Trump administration are approving mergers faster than the previous administration, says Dwayne Safer, a finance professor at Messiah University and former senior vice president of corporate strategy at Citizens Bank. He says in his experience, mergers typically take about eight to 11 months from start to finish, but “you’re seeing some pretty large deals get done in four to five months.”
A PwC analysis in June found that bank deals on average are closing 55 days faster over the past year than in the year prior. The PNC-FirstBank deal, for example, took just 119 days, and customer transitions occurred roughly nine months from the announcement date.
A new rule proposed by the FDIC aimed at accelerating the approval process even further, especially for smaller deals, could trim that agency’s review timeline down to as few as five days. Experts say that change could speed up certain acquisitions, but it wouldn’t impact the approval process for other regulatory agencies such as the Federal Reserve.
Although approvals remain speedy and relatively friction free, other factors have caused the pace of mergers to taper off slightly, with roughly 130 deals taking place as of early October. Many of the banks seeking to expand already made their moves last year. Rising interest rates also may be limiting appetites for new deals.
“Several of the most acquisitive banks are digesting recent acquisitions and the rapid rise in interest rates so far this year have caused the value of bank investment portfolios to decline,” says Safer. “Transaction activity is likely to persist at the current pace for the duration of the year as there’s no foreseeable catalyst to drive volumes meaningfully higher.”
Some of the Major Deals of 2025 and 2026: What Customers Can Expect
Fifth Third Bank and Comerica Bank
In the largest acquisition announced in 2025, Fifth Third bought Comerica in a deal valued at nearly $11 billion that was completed in February. The deal vaults Cincinnati-based Fifth Third into the top 15 largest banks in the U.S. in terms of total assets and jump-starts the bank’s expansion plans in Texas, where Comerica had 110 branches.
More than 80 branches – some former Comerica locations and some Fifth Third locations – have closed since the deal, largely because the two banks have extensive coverage overlap. About 75 of the branch closures were in Michigan. Fifth Third notes that customers from both institutions now have a wider branch network overall, with Comerica customers gaining 60% more branch access and existing Fifth Third customers gaining 42% more access. Nationally, Fifth Third expects to operate 1,750 branches by 2030.
Fifth Third says 600,000 customers were transitioned over from Comerica in September. Some reported problems during the conversion, such as trouble accessing their accounts online.
PNC Bank and FirstBank
PNC’s $4.1 billion acquisition of FirstBank inches it closer to rivals U.S. Bank and Capital One in terms of total assets ($616 billion), and makes PNC the top bank in the Denver market, giving it more than 100 branches throughout Colorado. It also allows PNC to expand in Arizona.
While no former FirstBank locations closed, PNC shuttered 18 of it’s own legacy branches in Colorado and Arizona in late September due to overlap. A PNC spokesperson say the bank has no immediate plans to close additional locations in the area.
PNC completed its conversion of FirstBank customers in June, with some customers complaining of technical issues. The bank says that about 2% of customers reached out with issues or concerns in the first week following the transition, but that complaints “declined significantly” after that.
“Any transition of this size will generate customer questions and concerns, particularly during the first few days following a system conversion,” the PNC spokesperson said. “While our goal is always to deliver a seamless experience, we recognize the transition was not perfect for everyone.”
The acquisition expands branch and ATM access for former FirstBank customers, who now can stop by any of PNC’s more than 2,300 branches.
Huntington Bank and Cadence Bank
In a $7.4 billion deal completed in February, Huntington Bank expanded its southern footprint by acquiring midsize Cadence Bank. The move also elevated Ohio-based Huntington into the top 15 U.S. banks with $283 billion in total assets, strengthening its position within the super regional group. Cadence Bank, which had headquarters in Houston and Tupelo, Mississippi, boasted nearly 400 branches across the South, and the deal comes at the same time rival Fifth Third grew its presence in many of the same markets.
Huntington recently indicated it plans to close seven Texas locations.
“This is an important next phase of growth for Huntington,” Steve Steinour, chairman, president and CEO of Huntington Bancshares said in a statement announcing the deal last year. “This partnership will extend the reach of our full franchise to 21 states – stretching from the Midwest to the South to Texas – and into new, high-growth markets for which we have a powerful playbook.”
Santander Bank and Webster Bank
Customers likely haven’t noticed much difference yet on this deal, which was completed Aug. 20. The acquisition makes Santander Bank the 19th largest in the U.S., and gives it a network of more than 550 branches.
As of now, customers of each bank can use the other’s ATMs but can’t make transactions at the other’s branches.
EverBank and WaFd
These banks announced a $3.9 billion reverse merger in September, which would create a combined institution with $75 billion in assets. The deal is likely to close in early 2027.
EverBank, which was formerly TIAA’s banking division, bought Michigan-based Sterling Bank in 2025, adding two dozen California locations. The merger with WaFd will significantly expand EverBank’s branch network from roughly 40 branches to around 250.
Bank Merger Benefits
When another bank purchases yours, you may see some welcome changes.
Expanded ATM and Branch Network
In many cases, a merger will result in a wider network of ATMs as well as more branch locations. Your new bank may also have more branches and ATMs in other parts of the country, which can be convenient if you travel often.
Better Technology
Larger institutions tend to have more robust mobile apps and online banking features. For example, your new bank may have online tools that use AI to provide financial insights or detect potential fraud.
More Products and Services
After your bank merges, you may have a greater selection of banking products to choose from. This could include a wider range of certificate of deposit terms, additional loan products or wealth management services.
Short-Term Offers
Sometimes when banks merge, the new bank may come out with promotional offers to help retain customers or entice new ones. For example, the bank might offer a sign-up bonus for a new checking account or waive certain fees.
“These offers are meant to encourage people to stay with or switch to the merged institution,” says Gates Little, president and CEO of The Southern Bank, a community bank in Alabama. “However, these promotions are not guaranteed and may vary depending on the size and strategy of the new bank.”
Bank Merger Drawbacks
Banks anticipate losing a fraction of customers of the institution they are acquiring during the transition, typically due to the following factors:
Branch Closures
Mergers often result in some branches getting shuttered, especially if both banks involved in the deal have branches in the same area.
“The rule of thumb is that if the acquiring bank and the target bank have branches within a half a mile or a mile of one another, one of them is going to get shut down,” says Safer.
Account Disruptions
Bank mergers can cause several inconveniences during the transition. In many cases, you’ll be issued a new debit card and you’ll get a new account number. This can cause problems if you have direct deposits or automatic bill payments set up, as you’ll likely need to reset those. You may also have to take steps to update your login information on the new bank’s site and download a new mobile app.
Less Personalized Service
If you frequently interacted with bank representatives either at branches or over the phone, you may find the new bank’s customer service lacking. Some staff from the old bank may also be let go as part of the consolidation.
“You may lose some of the personal touch that made your old bank feel like home,” says Fischer. “Decisions can take longer, policies can become more rigid and that local autonomy can fade.”
Lower Rates or Higher fees
Although some banks may initially offer promotional rates or fee waivers to retain customers, experts say consolidation ultimately may lead to lower interest rates on deposits or higher fees on checking accounts due to decreased competition.
Here’s What You Should Do if Your Bank Merges or Is Acquired
Monitor Communications from Your New Bank
Once your bank’s merger is finalized, you should begin receiving notices – either digitally or by mail – from the new bank informing you of coming changes to your account and steps you need to take. Make sure you know how and when you should start logging in using the new bank’s website.
Find out when you’ll receive your new debit card and bank account number. Once you have this information, you’ll need to update any automatic payments or direct deposits you have set up. Keep an eye out for any deadlines that require action.
Watch Out for Changes to Fees or Rates
Familiarize yourself with the various terms of your account with your old bank. Understand the fees, interest rates and minimum balance requirements. You should receive information from your new bank about any changes to the terms of your account, so take a close look at the fine print and compare the details. This way you can avoid surprises later on.
If the terms from the new bank aren’t favorable, this may be a good time to shop around for another bank.
Prioritize Relationships
If you have an established relationship with a bank representative, you may want to find out whether that individual will remain after the merger, says Fischer. He says sticking with that specific banker can pay off much more in the long term than any promotional bonus or perk you may receive in the short term.
“At the end of the day, a good banker is one of the most valuable relationships a consumer or business owner can have,” says Fischer. “If you’ve got an advocate in your corner who understands your goals, your cash flow, and your story, that’s invaluable. Banks will continue to merge, names will change, but strong relationships are what truly protect and grow your financial future.”
