Smooth Approval Outlook for Wintrust-Macatawa Deal Could Invite More US Bank M&A
James Stevens, co-leader of Troutman Pepper's Financial Services Industry Group, was quoted in the May 7, 2024 S&P Global Market Intelligence article, " Smooth Approval Outlook for Wintrust-Macatawa Deal Could Invite More US Bank M&A."
The deal could offer a glimmer of hope for banks staying on the bank M&A sidelines due to the regulatory environment, barring any issues such as consumer group opposition, said James Stevens, partner and co-leader of Troutman Pepper Hamilton Sanders LLP's Financial Services Industry Group.
"I would think that this is a transaction that will be great because it will demonstrate to the market that deals that are simple, like this one, get approved, and it doesn't actually take ... that long to get it approved," Stevens said in an interview.
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"I don't think that we're in a new era where every M&A deal that gets approved is going to have conditions on it," Stevens said. "I think that historically and going forward, the regulators will do that when necessary, in their minds, to be in a position to approve a transaction."
Wintrust's purchase of Macatawa seems easy to approve, likely to be completed quickly and unlikely to have material conditions, Stevens added.