Douglas Winn spoke at the 2017 AICPA National Conference on Credit Unions on Merger Strategies.
Key topics include:
- The top reasons for mergers, including geographic expansion, broadening and/or diversifying the field of membership, acquiring a state versus Federal charter, diversifying the balance sheet, acquiring specific expertise, improving their technology, lowering costs, fulfilling mission, or keeping a competitor out of the same market.
- Summary of acquiring and merging in credit unions over the past years including size, location and financial performance metrics.
- Highlight of the accounting and regulatory implications of mergers, including the discount on loans and the core deposit intangible.
- Overview of the mergers we have seen that resulted in goodwill or a bargain purchase and why.
- Tips on how to go about the merger including assessing cultural fit and having a “high level” valuation performed in advance.
- Dos and Don’ts and what to watch out for during the merger process.