PL Capital Advisors, LLC

Watch 'Generational Change' In Regulation: KBW CEO - Bloomberg bloomberg.com/news/videos/20…

PL Capital Advisors, LLC Sends Presentation to the Horizon Bancorp, Inc. Board of Directors and Management Team ml.globenewswire.com/Resource/Downl… globenewswire.com/news-release/2…

Fifth Third Buying Comerica. Excluding, BBT / Suntrust, this is the largest bank deal by U.S. Seller assets since 2008. Anticipated close is just under 6 months. Compare that to BMO buying Bank of the West which closed in 14 months! ir.53.com/news/news-deta…

OCC Announces New Organizational Framework. Large Bank Supervision Threshold Goes From $100 Billion to $500 Billion in Assets. occ.treas.gov/news-issuances…

Bank Stocks: A Wave of Mergers is Just Getting Started barrons.com/articles/bank-…

“The Tide Has Turned: Bank Deals are Closing Faster” Great chart from KBW.

“Twenty-six US bank deals were announced in July, marking the highest monthly number of deals since June 2021” spglobal.com/market-intelli…

Q2 2025 bank results generally have beaten forecasts on revenue growth, margin expansion, and stable credit. 2026 Median Street Consensus estimates are higher post earnings.

FITB CEO Spence on Q2 Call: "I think the banking sector in the U.S. is the least consolidated industry. And our banking sector is the least consolidated banking sector in the world."

An excerpt from our Q2 2025 letter on the $TOWN / $OPOF merger.

Dimon on Q2 2025 Call: "The value to shareholders is that we cannot just earn 17% ROTCE, it's that we can reinvest money at 17% ROTCE. That's the value. If you're just going to earn 17% you're a bond."

This morning First Community Corporation officially announced it has agreed to acquire Signature Bank of Georgia. Here is a redline comparison of today's press release against the press release for the deal that accidentally was released last week.

@blondesnmoney Further: 127 (63%) of the early filers are S-Corps. Adjusting for that, median Q2 2025 ROAA of early filers = 1.22%. As an aside, at Q1 2025 1,431 of the industry's total regulated institutions were S-Corp electors, or 32%. Obviously a much lower % if done by assets.

@PLCapitalLLC Is there any selection bias? Do the early reporters seem to outperform the rest of the data?

Q2 2025, early call reporters:

@blondesnmoney Good thought. Not shown, median Q2 ROAA of early reporters = 1.37%, so probably yes.

@Ron284Ron We missed this one: 102 days, announce to close.

$BFCC Completes the acquisition of Magnolia State Bank effective 7/1. otcmarkets.com/stock/BFCC/new…

KBW Sales: "With each new headline around deal announcements or closings, we receive more inbounds around potential future M&A, which points to increasing investor optimism on one of the major themes of the Trump trade."

Bank M&A - 4 Deals Closed on July 1st: INDB / EBTC: 204 days, announce to close OSBC / Bancorp Financial: 126 days, announce to close FBK / SSBK: 92 days, announce to close CADE / Industry: 67 days, announce to close

The FDIC Board is considering a proposed rule to address the issue of frequently-binding leverage capital requirements for the largest U.S. banking organizations. fdic.gov/news/speeches/…