One theme during second quarter earnings season among the nation's banks: ongoing digital pushes by big banks such as JPMorgan Chase (JPM - Get Report) , Citigroup (C - Get Report) and Bank of America (BAC - Get Report) . 

In effect, the nation's biggest banks are consolidating their power amid the push toward digital consumption. That push may cause smaller regional banks to consider tie-ups with tech companies -- or mergers to create scale -- to compete with the larger banks, CEO Thomas Michaud of KBW, a Stifel Company, tells TheStreet. 

Michaud spoke to TheStreet on Tuesday at the 2018 KBW Community Bank Investor Conference, held by parent company Stifel Financial (SF - Get Report) .

Here's why Jim Cramer's Action Alerts PLUS member club is bullish on JPMorgan Chase and Citigroup.