Q4 2025
IntraFi's Bank Executive Business Outlook Survey
In 2025, the U.S. banking sector experienced a resurgence in mergers and acquisitions (M&A), with over 170 deals announced during the year.1 Credit union purchases of banks made up close to 10 percent of that total, and banks have taken notice.
According to survey data, bankers believe credit union purchases of community banks will continue at a significant rate, creating a number of challenges for the industry. Credit unions acquired 22 banks in 2024,2 a record, and an additional 16 in 2025.3 Fifty-two percent of respondents expect 11-20 such deals in 2026, with a third warning the total will be even higher.
To read more, download the Q4 2025 Bank Executive Business Outlook Survey.
[1] “Banking Industry Outlook: U.S. Banking M&A Caps Off a Historic 2025,” Ankura, January 15, 2026, https://ankura.com/insights/banking-industry-outlook-u-s-banking-ma-caps-off-a-historic-2025
[2] “Record Year for Credit Union-Bank Deals in 2024,” Wilary Winn, January 6, 2025, https://wilwinn.com/record-year-for-credit-union-bank-deals-in-2024/
[3] Laura Alix, “Credit Union Still a Key Competitor in Small Bank M&A,” BankDirector, December 12, 2025, https://www.bankdirector.com/article/credit-unions-still-a-key-competitor-in-small-bank-ma/
IIntraFi’s Bank Executive Business Outlook Survey was conducted online over the course of two weeks from January 6 to January 20, 2026.
The survey was delivered via email to bank CEOs, presidents, CFOs, and COOs. Leaders from 441 unique banks throughout the United States completed the survey. Of these respondents, 114 were CEOs (27%),
61 were presidents (14%), 219 were CFOs (51%), and 32 were COOs (8%).
All percentages have been rounded to the nearest whole number unless reported otherwise. Percentages may not total 100% for some questions due to respondents’ ability to select more than one answer option.