U.S. Mid- and Small-Cap Banks M&A Bi-Weekly Report Seven Bank Deals; Hancock Whitney to Acquire OFB Bancshares for ~$375mm All-Cash; YTD Deals: 55

Research evidence excerpt

U.S. Mid- and Small-Cap Banks M&A Bi-Weekly Report Seven Bank Deals; Hancock Whitney to Acquire OFB Bancshares for ~$375mm All-Cash; YTD Deals: 55

J P M O R G A N North America Equity Research

18 May 2026

U.S. Mid- and Small-Cap Banks

M&A Bi-Weekly Report

Seven Bank Deals; Hancock Whitney to Acquire OFB

Bancshares for ~$375mm All-Cash; YTD Deals: 55

• Seven bank deal announcements in the past two weeks, putting the 2Q26 U.S. Mid and Small Cap Banks

AC QTD deal count at 21 vs. 19 in 1Q26 QTD and 20 in 2Q25 QTD. The 2026 YTD Anthony Elian, CFA

deal count sits at 55 vs. 57 in the 2025 YTD period. The Midwest market has (1-212) 622-5067

seen the highest number of deals this year with 31 announcements. The 2Q26 anthony.elian@jpmorgan.com

QTD average deal size stands at $51.9mm (vs. $787.7mm in 1Q26 QTD and Michael Pietrini

$161.9mm in 2Q25 QTD), along with an average of $438mm in assets acquired (1-212) 622-0618

vs. $5.5B in 1Q26 QTD and $1.7B in 2Q25 QTD. The 2026 YTD average deal michael.pietrini@jpmorgan.com

J.P. Morgan Securities LLC

size stands at $291mm (vs. $91mm in 2025 YTD), along with an average of

$2.2B in assets acquired vs. $1.1B in the comparable period.

• Hancock Whitney Corp. (MS) to acquire OFB Bancshares Inc. (FL) in ~

$378mm all-cash deal. In a transaction announced May 15, Hancock Whitney

will acquire 100% of OFB Bancshares for a total consideration of $377.6

million in cash for all outstanding common shares and options, adding ~$2.1B

assets, ~$1.9B deposits, and six financial centers in Florida, including five in

Greater Orlando and one in the Florida Panhandle. Combined the company is

expected to be the fifth-largest regional bank in Florida based on pro forma

market share. EPS accretion is projected in the high-single-digits. Cost savings