This paper examines the impact of natural disasters on county-level bank mergers and acquisitions (M&As) in the US from 2000 to 2019. We find that natural disasters generally lead to a decrease in M&A transactions, with acquiring banks showing increased caution towards deals involving targets based in different or distant markets. Despite this reduction in overall deal activities, banks tend to pay higher premiums for targets in these regions, potentially anticipating future performance improvements or synergies. Furthermore, heightened public awareness of climate risk appears to mitigate the negative effects of natural disasters on M&A activities, suggesting that banks may be more inclined to pursue acquisitions in areas with strong climate risk management and resilience. This study provides insights into how natural disasters influence banking behavior and M&A strategies.