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The Wells Fargo Wagon is a-coming, to buy you

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Banc of America analyst John McDonald met with Wells Fargo management and came away with the view that the bank is keeping the acquisition party alive, after spending over $2bn earlier this year on Greater Bay Bancorp and Placer Sierra Bancshares. Before 2007, Wells had not hooked up with a smaller bank in five years.
More and more smaller banks are said to be in the market for a sugar daddy, as many are dropping price expectations that have pushed away buyers in the past several years. Private equity money is also expected to play a role in regional bank rollups. CapGen Capital Advisors is a planned $1bn fund structured as a bank holding company to get around regulatory issues that made acquiring a bank not as attractive for PE firms in the past.
Wells Fargo Circles the Pond for More Small Fish [Deal Journal]


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