by changes following bank mergers involving Federal Reserve customer banks. This paper evaluates the effect of bank … two or more Reserve Bank customers have resulted in volume losses, especially during the first quarter following the … additional check-processing volume because of bank mergers. …

acquisitions, as these parties "learn-by-observing" information that spills-over from previous bank M&As. We find evidence … relatively new phenomenon in the late-1980s, with no best practices to inform bank managers and little information upon which … evidence that bank mergers create value. Furthermore, our finding that investors become more accurate pricers of new phenomena …