After a period of stalled mergers and acquisitions (M&A) driven by regulatory tightening and market uncertainty, an appetite for deals is returning.
“There’s a bit more of a reinvigoration in financial institution transactions,” said Patrick Vernon, CPA, ABV, partner with Crowe LLP. This shift is creating demand for clear, actionable guidance on how to navigate the process from start to finish.
As financial institutions prepare for a renewed wave of M&As, an upcoming workshop, A Deep Dive into Business Combinations, at the AICPA & CIMA Conference on Banks & Savings Institutions and Conference on Credit Unions, offers timely, hands-on insight for banks, credit unions, and advisers alike. Facilitated by Patrick Vernon, partner at Crowe; Nancy Foringer, managing director at Forvis Mazars; and Michael Ruchti, CFO of United Federal Credit Union, the session promises to be more than just a walkthrough — it’s a deep, practical dive into the evolving dynamics of financial institution M&A.
Read more about the workshop and how business combinations are changing.
Workshop highlights: From due diligence to final reporting
The workshop will walk through the key phases of a business combination, from due diligence through final reporting. You will hear the perspectives of the acquirer, valuation specialist, and external auditors. Using an actual transaction, the facilitators will follow along the process and point out what changes are on the horizon under the new, forthcoming ASU for Purchased Financial Assets (PFA).
Attendees can expect to walk through:
The full lifecycle of a business combination from early strategic planning to post-deal integration
Key milestones and stakeholders, including legal, valuation, accounting, and due diligence considerations
Examples of how the new accounting standards — especially regarding the forthcoming ASU on Purchased Financial Assets
— might reshape the balance sheet on day one and beyond
“We’ll show the impact of the new PFA guidance, comparing legacy accounting with pro forma examples under the updated standard,” Foringer explained. “It helps demystify what can feel like complex changes in accounting treatment.”
Real-world impact of accounting changes
While the forthcoming Purchased Financial Assets update is intended to simplify acquisition accounting, Vernon cautions that operationalizing it introduces new challenges. “There’s nuance to consider. Institutions are weighing whether to early adopt and how it may affect pricing, though so far, multiples haven’t materially shifted.”
Workshop presenters will walk through how credit quality affects financial reporting and provide real balance sheet and P&L examples to anchor the discussion in reality.
“Sometimes, when you use ‘what-ifs,’ you'll pick things that can demonstrate the concepts but might not necessarily be what you'd see in an actual transaction,” Vernon said.
Vernon added that the workshop offers an opportunity to hear about business combinations through an accounting lens.
“It’s important to have that accounting perspective, especially when you're thinking operationally through a transaction,” he said. “I think this is a good opportunity for attendees to hear directly from us about what we're seeing and how it benefits financial institutions.”
A workshop designed for interaction
With a smaller, more intimate format and a 2.5-hour session length, the workshop is designed for active engagement. Attendees will have the chance to:
Ask questions specific to their institutions’ situations
Collaborate in small groups
Engage directly with both the presenters and fellow participants
“We want it to feel more like a roundtable than a presentation,” Vernon said. “That’s where some of the most valuable insights come out.”
This workshop is tailored for a range of professionals and audiences, including:
Community banks considering being acquired
Credit unions exploring mergers
Mid-sized to large institutions looking to grow
Advisers who support the M&A process
Set before the official conference kickoff, the workshop offers a unique opportunity to learn, engage, and prepare — whether you’re actively planning a deal or simply want to better understand what’s next in the M&A landscape.
“We’ll be around during the rest of the conference,” Foringer said. “This is just the start of the conversation.”
A Deep Dive into Business Combinations will be held on Sunday, Sept. 14 from 3:00–5:30pm prior to the AICPA & CIMA Conference on Banks & Savings Institutions and Conference on Credit Unions online and in-person at Gaylord National, National Harbor, Maryland.
Unlock additional business combination best practices with our accounting and valuation guide.