Magazine article American Banker

Bankers in a State about to Open Its Doors to Interstate Banking Get Some Free Professional Advice on Buying and Selling

Magazine article American Banker

Bankers in a State about to Open Its Doors to Interstate Banking Get Some Free Professional Advice on Buying and Selling

Article excerpt

INDIANAPOLIS -- Some Indiana bankers got a bit of free professional advice this week from the accounting and financial consulting firm of Deloitte, Haskins & Sells.

The bankers attended a series of seminars that the accounting firm sponsored in three Indiana cities. The subject that attracted them was, "Mergers and Acquisitions: The hoosier Perspective."

The first seminar was conducted this Tuesday in Indianapolis, followed by an identical program on Wednesday in South Bend, and a third seminar Thursday in Evansville.

The point of all this free advice, according to Deloitte, is that "the Midwest is a hotbed of regional banking activity. And Indiana, which has just passed an interstate banking law, is at the center of it."

Michael E. Bershaw, partner in charge of the Indianapolis office of Deloitte Haskins, says that the majority of the bankers attending the half-day seminars probably are or have been involved in a merger, or believe that they will be soon.

Approximately 62 bankers representing about half as many banks attended the Indianapolis conference.

"I would gather that a larger number of these people have been approached [about an acquisition], or are approaching, or it's just around the corner," said Mr. Bershaw. "It's getting pretty close to home for a lot of them.

"Even if they haven't been approached, they will want to know, 'What do I do if I am?'"

Indiana had 382 commercial banks at the end of 1984. The state's interstate banking law, which goes into effect Jan. 1, 1986, allows banks in neighboring states to acquire Indiana banks, provided those states have reciprocal interstate banking provisions. So far, only Kentucky and Ohio have adopted such measures.

Another portion of the Indiana law allows Indiana banks for the first time to acquire banks outside their home counties.

37 Deals Since July 1

The Indiana Department of Financial Institutions says that 37 acquisitions involving 20 holding companies have been announced since the new law was enacted July 1. …

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