From the sample of merges for financial institutions and financial holding companies (FHC), this paper used the duration model to measure the spell lengths of hazard rate. We examined the factors which may influence the spell lengths and investigated the events of self-aggrandizement merge. The rapidly growing events in the initial duration period of FHC's merges were consistent with self-aggrandizement merge. We found that the FHCs tended to attract new depositors and maintained good quality services for their clients, when they had lower debt-asset ratios, smaller ownerships for the directors and supervisors, and higher total asset turnovers. To integrate resources and to obtain good performances, the FHCs may merge as quickly as possible to enhance cross-selling maneuver, so that the spell lengths were short for the FHCs. It also shows that with lesser branches, lower total asset turnovers and smaller ownerships for the directors and superiors, financial institutions sought to merge with well-performed firms eagerly to increase marketing channels and profitability, especially for avoiding "marginalization". Thus, financial institutions may reduce the spell lengths to merge.