The pace of bank merger and acquisition announcements slowed during the first half of 2026 despite increased certainty about regulatory approvals, with broader economic uncertainty driving the slowdown, according to a new analysis by PwC.
PwC noted that median deal closing times have decreased to 132 days from the previous year’s 187 days. There have been five “significant” banking transactions exceeding $5 billion announced during the most recent four-quarter period. Consolidation among regional banks and credit unions also continued with more than 130 bank-to-bank deals and approximately 100 credit union mergers.
“Progress is underway on some of the regulatory topics that previously weighed on the sector, paving the way for greater confidence and flexibility in this area,” PwC said.
Still, there was a noticeable slowdown in new announcements during the first two quarters of 2026. Uncertainties around systemic risks in the U.S. and global markets “have dampened deal velocity,” according to the report.
“Even with the slowdown, there is strong interest from both domestic and international buyers in the U.S. banking and capital markets, signaling that the sector remains attractive even amid heightened caution,” PwC said. “Looking ahead, continued progress on regulatory proposals, ongoing business transformation pressures, and expectations of bottom-line growth will continue to influence both deal structure and volume.”
