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Board of Governors of the Federal Reserve System (US)
Finance and Economics Discussion Series
The effects of bank mergers and acquisitions on small business lending
Allen N. Berger
Anthony Saunders
Joseph M. Scalise
Gregory F. Udell
Abstract

We examine the effects of over 6,000 M&As involving more than 10,000 banks on small business lending. We are the first to decompose the impact of M&As into static effects associated with a simple melding of the antecedent institutions and dynamic effects associated with post-M&A refocusing of the consolidated institution. We are also the first to estimate the reactions of other local banks to M&As. We find that the static effects that reduce small business lending are mostly offset by the reactions of other banks and, in some cases, also by the refocused efforts of the consolidating institutions themselves.


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Allen N. Berger & Anthony Saunders & Joseph M. Scalise & Gregory F. Udell, The effects of bank mergers and acquisitions on small business lending, Board of Governors of the Federal Reserve System (US), Finance and Economics Discussion Series 1997-28, 1997.
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Keywords: Bank mergers ; Bank loans ; Commercial loans ; Small business
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Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

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