Consultants at McKinsey discussed regional bank relevance with Amegy Bank, emphasizing specialty regional banks as a potential niche; however, Amegy CEO cited recent bank failures as a cautionary example.

McKinsey & Co. consultants discussed regional bank relevance with Houston's Amegy Bank, highlighting specialty regional banks as a potential niche. However, Amegy CEO Steve Stephens noted that such specialization led to the collapse of First Republic, Silicon Valley Bank, and Signature. Thousands of small US banks struggle to maintain attractiveness as Wall Street giants like Bank of America and JPMorgan Chase forge ahead in the tech-driven era of consumer finance. Consolidation has slowed, but Morningstar anticipates a rise in M&A activity.

April 09, 2024
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