We identify 72 bank Mergers and Acquisitions (M&As), in which US banks acquired other financial institutions. We focus on the role of timing at M&A in the context of boom phase and financial crisis. Applying event study methodology, we examine: value generation to bank shareholders; value...

The number of institutions in the US banking industry has decreased from around 14,000 in the 1980s to fewer than 7,000 presently. Any change in the number of banks must be due to the formation of new banks, mergers among existing banks, and the failure of existing banks. Over the years from the...

We study bank supervision by combining a theoretical model that distinguishes supervision from regulation and a novel dataset on work hours of Federal Reserve supervisors. We highlight the trade-offs between the benefits and costs of supervision and use the model to interpret the relationship...