---
title: Strategic Analysis Should Surpass Investment Banking Ties in Bank M&A, Expert Says
description: As community and regional bank mergers and acquisitions accelerate in the post-pandemic world, the advisory process “will require an altered approach,” argues bank consultant Joe Fenech in a blog post
image: https://intel.invictusgrp.com/hubfs/blog-072121-885x319-1-1.webp
---

[![Invictus Analytics Logo 2025 _ BL](https://intel.invictusgrp.com/hs-fs/hubfs/Invictus%20Analytics%20Logo%202025%20_%20BL.png?width=200&height=46&name=Invictus%20Analytics%20Logo%202025%20_%20BL.png "Invictus Analytics Logo 2025 _ BL")](https://www.invictusgrp.com)

Open menu

- [Home](https://www.invictusgrp.com)
- About Us 
    - [About Invictus](https://www.invictusgrp.com/about-invictus-group)
    - [Client Testimonials](https://www.invictusgrp.com/client-testimonials)
    - [Message from the Chairman](https://www.invictusgrp.com/message-from-chairman)
    - [The Leadership Team](https://www.invictusgrp.com/our-team)
    - [Job Opportunities](https://www.invictusgrp.com/jobs)
- Our Offerings 
    - [Capital Stack](https://www.invictusgrp.com/capital-stack-old)
    - [M&A Advisory Services & SI](https://www.invictusgrp.com/ma-advisory-si)
- Our Insights 
    - [Invictus Intel Blog](https://intel.invictusgrp.com)
    - [M&A Deal Blog](https://mablog.invictusgrp.com/)
    - [Bank Insights Newsletter](https://www.invictusgrp.com/invictus-bank-insights-newsletter-the-invictus-group)
    - [White Papers](https://www.invictusgrp.com/white-papers)
    - [Webinars & Videos](https://www.invictusgrp.com/webinars-and-videos)
- [Client Login](https://www.invictusanalytics.com/)

[ Let's Talk ](https://www.invictusgrp.com/contact)

[![Invictus Analytics Logo 2025 _ BL](https://intel.invictusgrp.com/hs-fs/hubfs/Invictus%20Analytics%20Logo%202025%20_%20BL.png?width=200&height=46&name=Invictus%20Analytics%20Logo%202025%20_%20BL.png "Invictus Analytics Logo 2025 _ BL")](https://www.invictusgrp.com)

Close menu

- [Home](https://www.invictusgrp.com)
- About Us 
    - [About Invictus](https://www.invictusgrp.com/about-invictus-group)
    - [Client Testimonials](https://www.invictusgrp.com/client-testimonials)
    - [Message from the Chairman](https://www.invictusgrp.com/message-from-chairman)
    - [The Leadership Team](https://www.invictusgrp.com/our-team)
    - [Job Opportunities](https://www.invictusgrp.com/jobs)
- Our Offerings 
    - [Capital Stack](https://www.invictusgrp.com/capital-stack-old)
    - [M&A Advisory Services & SI](https://www.invictusgrp.com/ma-advisory-si)
- Our Insights 
    - [Invictus Intel Blog](https://intel.invictusgrp.com)
    - [M&A Deal Blog](https://mablog.invictusgrp.com/)
    - [Bank Insights Newsletter](https://www.invictusgrp.com/invictus-bank-insights-newsletter-the-invictus-group)
    - [White Papers](https://www.invictusgrp.com/white-papers)
    - [Webinars & Videos](https://www.invictusgrp.com/webinars-and-videos)
- [Client Login](https://www.invictusanalytics.com/)

[ Let's Talk ](https://www.invictusgrp.com/contact)

## Strategic Analysis Should Surpass Investment Banking Ties in Bank M&A, Expert Says

As community and regional bank mergers and acquisitions accelerate in the post-pandemic world, the advisory process “will require an altered approach,” argues bank consultant Joe Fenech in a [blog post this week.](https://www.travilliangroup.com/for-investment-bankers-a-changing-ma-landscape-necessitates-a-modified-approach.html)

Understanding a bank’s strategic planning process, as well as its opportunities and challenges, will be far “more appealing than the services offered by the regional investment banker with strong relationships solely within the acquirer’s or target’s immediate market area,” Fenech writes.

Some of this is due to fintech, and some of it is because of post-COVID changes in how banks and their customers operate. Fenech argues that the banking industry is on the “cusp on an M&A wave that should rival any in the sector’s quite active history.”

He isn’t the first banking consultant to note that investment banking relationships don’t always favor banks. A June [McKinsey & Company article](https://www.mckinsey.com/industries/financial-services/our-insights/us-midcap-banking-the-shakeout-ahead?cid=other-eml-alt-mip-mck&hdpid=84df0c4d-47d3-487c-8938-100427f2cc7a&hctky=10136334&hlkid=652b9112b86d49d897c4f6f67b7f0520) concluded that 70 percent of bank acquisitions failed to create value for the buyer.

The McKinsey piece advises a bank contemplating M&A to make sure it can “objectively view its strengths and weaknesses, especially with regards to the key value drivers.” It notes that “the historical record of M&A is rife with last-minute decisions overriding careful early planning.”

***Editor’s Note:*** The Invictus M&A Advisory and Strategic Intelligence Group provides bank CEOs and Boards of Directors critical strategic information and tools to plan for and make successful M&A decisions. The group identifies, negotiates, and creates transactions that are designed for post-deal success by using industry-focused loan-level data to exploit hidden value. Contact George Dean Callas at [gcallas@invictusgrp.com](mailto:gcallas@invictusgrp.com) for more information.

## More recent posts

![Invictus CEO to Moderate Regulatory Panel at ](https://intel.invictusgrp.com/hubfs/AdobeStock_901521336-1.jpeg)

[banking](https://intel.invictusgrp.com/tag/banking), [Capital Plan for Community Banks](https://intel.invictusgrp.com/tag/capital-plan-for-community-banks), [Community Banks Capital Plan](https://intel.invictusgrp.com/tag/community-banks-capital-plan), [capital planning](https://intel.invictusgrp.com/tag/capital-planning), [liquidity](https://intel.invictusgrp.com/tag/liquidity), [stress testing](https://intel.invictusgrp.com/tag/stress-testing), [Trade War Recession](https://intel.invictusgrp.com/tag/trade-war-recession), [Capital Requirements for community banks](https://intel.invictusgrp.com/tag/capital-requirements-for-community-banks), [community bank regulations](https://intel.invictusgrp.com/tag/community-bank-regulations), [Global Oil Shock](https://intel.invictusgrp.com/tag/global-oil-shock), [Stagflation](https://intel.invictusgrp.com/tag/stagflation), [Banking CRE](https://intel.invictusgrp.com/tag/banking-cre), [Banking Construction](https://intel.invictusgrp.com/tag/banking-construction), [Concentration Limits](https://intel.invictusgrp.com/tag/concentration-limits), [CRE Banking Strategies](https://intel.invictusgrp.com/tag/cre-banking-strategies)

### [Invictus CEO to Moderate Regulatory Panel at "Concentrate 2026" *Author: Patti Casaleggio, Invictus Analytics * As regulatory scrutiny and expectations around commercial real estate (CRE) continue to evolve, staying ahead of supervisory trends has never been more critical for community and...](https://intel.invictusgrp.com/invictus-ceo-to-moderate-regulatory-panel-at-concentrate-2026)

![Preparing for the Possibility of a Global Oil Shock and Stagflation Scenario](https://intel.invictusgrp.com/hubfs/AdobeStock_1939288070-1.jpeg)

[banking](https://intel.invictusgrp.com/tag/banking), [Capital Plan for Community Banks](https://intel.invictusgrp.com/tag/capital-plan-for-community-banks), [Community Banks Capital Plan](https://intel.invictusgrp.com/tag/community-banks-capital-plan), [capital planning](https://intel.invictusgrp.com/tag/capital-planning), [liquidity](https://intel.invictusgrp.com/tag/liquidity), [stress testing](https://intel.invictusgrp.com/tag/stress-testing), [Trade War Recession](https://intel.invictusgrp.com/tag/trade-war-recession), [Capital Requirements for community banks](https://intel.invictusgrp.com/tag/capital-requirements-for-community-banks), [community bank regulations](https://intel.invictusgrp.com/tag/community-bank-regulations), [Global Oil Shock](https://intel.invictusgrp.com/tag/global-oil-shock), [Stagflation](https://intel.invictusgrp.com/tag/stagflation)

### [Preparing for the Possibility of a Global Oil Shock and Stagflation Scenario *Author: Adam Mustafa CEO, Invictus Analytics * What happens when inflation reaccelerates from already elevated levels while economic growth slows? This is the defining challenge behind Invictus Analytics’ latest Oil Price Shock...](https://intel.invictusgrp.com/preparing-for-the-possibility-of-a-global-oil-shock-and-stagflation-scenario)

![Evaluating the CBLR at 8%: Should Your Bank Adopt it?](https://intel.invictusgrp.com/hubfs/AdobeStock_381681511-1.jpeg)

[banking](https://intel.invictusgrp.com/tag/banking), [Capital Plan for Community Banks](https://intel.invictusgrp.com/tag/capital-plan-for-community-banks), [Community Banks Capital Plan](https://intel.invictusgrp.com/tag/community-banks-capital-plan), [capital planning](https://intel.invictusgrp.com/tag/capital-planning), [liquidity](https://intel.invictusgrp.com/tag/liquidity), [stress testing](https://intel.invictusgrp.com/tag/stress-testing), [Trade War Recession](https://intel.invictusgrp.com/tag/trade-war-recession), [Capital Requirements for community banks](https://intel.invictusgrp.com/tag/capital-requirements-for-community-banks), [community bank regulations](https://intel.invictusgrp.com/tag/community-bank-regulations), [cblr](https://intel.invictusgrp.com/tag/cblr)

### [Evaluating the CBLR at 8%: Should Your Bank Adopt it? *Author: Adam Mustafa, CEO, Invictus Analytics * Federal banking agencies recently finalized a rule lowering the Community Bank Leverage Ratio (CBLR) threshold from 9% to 8%, effective July 1, 2026. At first glance, the change...](https://intel.invictusgrp.com/evaluating-the-cblr-at-8-should-your-bank-adopt-it)

## Footer

[![Invictus Analytics Logo 2025 _ BL](https://intel.invictusgrp.com/hs-fs/hubfs/Invictus%20Analytics%20Logo%202025%20_%20BL.png?width=200&height=46&name=Invictus%20Analytics%20Logo%202025%20_%20BL.png "Invictus Analytics Logo 2025 _ BL")](https://www.invictusgrp.com)

Invictus is the essential resource for bank executives, boards of directors and investors in navigating the new world of banking. Our mission is to provide our clients a competitive advantage through data intelligence, industry expertise and disruptive analysis.

[LinkedIn

](https://www.linkedin.com/company/invictusgroup/) [YouTube

](https://www.youtube.com/@InvictusGroupAnalytics)

### ABOUT US

- [ About Us ](https://www.invictusgrp.com/about-invictus-group)
- [ Message from Chairman ](https://www.invictusgrp.com/message-from-chairman)
- [ Our Leadership Team ](https://www.invictusgrp.com/our-team)
- [ Privacy Policy ](https://www.invictusgrp.com/privacy-policy)

### OUR OFFERINGS

- [ Capital Stack ](https://www.invictusgrp.com/capital-stack-old)
- [ M&A Advisory Services & SI ](https://www.invictusgrp.com/ma-advisory-si)

### OUR INSIGHTS

- [ Invictus Intel Blog ](https://intel.invictusgrp.com)
- [ M&A Deal Blog ](https://mablog.invictusgrp.com/)
- [ Bank Insights Newsletter ](https://www.invictusgrp.com/invictus-bank-insights-newsletter-the-invictus-group)
- [ White Papers ](https://www.invictusgrp.com/white-papers)
- [ Webinars & Videos ](https://www.invictusgrp.com/webinars-and-videos)

© 2026 by Invictus Group®, Invictus®, Invictus Group®, FreeCapital®, and LoanLayering® are registered trademarks of Invictus

```json
{
  "@context" : "https://schema.org",
  "@type" : "BlogPosting",
  "author" : {
    "@type" : "Person",
    "name" : "Adam Mustafa",
    "url" : "https://intel.invictusgrp.com/author/adam-mustafa"
  },
  "dateModified" : "2022-12-07T17:11:21.575Z",
  "datePublished" : "2021-07-21T19:27:23.000Z",
  "headline" : "Strategic Analysis Should Surpass Investment Banking Ties in Bank M&A, Expert Says",
  "image" : [ "https://intel.invictusgrp.com/hubfs/blog-072121-885x319-1-1.webp" ],
  "mainEntityOfPage" : {
    "@id" : "https://intel.invictusgrp.com/2021/07/strategic-analysis-should-surpass-investment-banking-ties-in-bank-ma-expert-says",
    "@type" : "WebPage"
  },
  "publisher" : {
    "@type" : "Organization",
    "logo" : {
      "@type" : "ImageObject",
      "url" : "https://intel.invictusgrp.com/hubfs/Website%20Graphics/logo-Invictus.png"
    },
    "name" : "Invictus Group LLC"
  }
}
```