Regions, the Regions logo and the LifeGreen bike are registered trademarks of Regions Bank. Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nations largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. The most common acquirer mentioned amid the current speculation is Wachovia Corp., which has long been rumored to be eyeing the $14 billion- asset company. Our US bank mergers and acquisitions table below allows you to scroll, sort, print and export the relevant merger activity. Acquisition to further expand Regions specialty capabilities and M&A advisory services. Though the year In addition to complementing and enhancing the advisory services delivered by Regions Capital Markets, Clearsight is a tremendous cultural fit for Regions. Regions News on Twitter: @RegionsNews, Back to Regions reports third quarter 2022 earnings of $404 million, earnings per diluted share of $0.43 Download Strong Revenue. Disciplined Expense Management. Regions reports third quarter 2022 earnings of $404 million, earnings per diluted share of $0.43 - PDF, opens in a new window Rebuilding. Recovering. Together. By welcoming the experience and insights of Clearsight and its exceptional team, Regions Bank is further positioned to build on the holistic, consultative approach to service that we deliver to clients seeking to build on their growth and advance their business strategies, said Joel Stephens, head of Capital Markets for Regions Bank. Ma More, Jason, a partner with Deloitte & Touche LLP, is the East region managing partner of Merger & Acquisition Transaction Services practice and Deloittes National M&A Industry leader for Financial Service More, Insights on key regulatory developments and trends, Hot topics in the evolving world of mergers and acquisitions. Commercial Banks, Senior Loan Officer Opinion Survey on Bank Lending We reference and link to third party information that we verify to the best of our abilities, but do not guarantee its accuracy. Overnight on Wall Street is daytime in Asia. The OCC also reviewed the Merger under the criteria of the Bank Merger Act (BMA), 12 USC 1828(c), and Dec 09, 2022. Most megadeals closed in 2022 had been announced in 2021 but underwent regulatory scrutiny that in some cases stretched more than 14 months. Terms of the acquisition were not disclosed. Click to reveal Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. What are some other key trends, challenges, and opportunities that may affect your business and influence your strategy? Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock market. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Regions will maintain Clearsights headquarters office in McLean, Virginia, as well as business offices in New York City and Dallas, Texas. The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. Regions Investment Solutions is a marketing name of Cetera Investment Services. Copyright 2023 U.S. News & World Report L.P. Additional information about Regions and its full line of products and services can be found at www.regions.com. Live market coverage co-anchored from Hong Kong and New York. After all, it addresses one of the long-term issues facing the business and it can help determine where you stand for the next 3Y to 5Ys as well. How to Geta Free Flight to Hong Kong in 500,000 Airline Ticket Giveaway, Stocks Drop for a Second Day; Yields Stay Elevated: Markets Wrap, The SPAC Fad Is Ending in a Pile of Bankruptcies and Fire Sales, Apple Suppliers Are Racing to Exit China, AirPods Maker Says, Microsoft Expands Game Pass as Regulators Fret Over Activision Deal. As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. Total revenue of $2.6 billion was down almost 2% from the third quarter of 2020. But First Bank ran into Cambray Mutual Holding Company and Gouverneur Bancorp, Inc. both of Gouverneur, New York; to become a mutual savings and loan company and stock subsidiary holding company of a mutual holding company, respectively, pursuant to section 10(e) of the Home Owners Loan Act, and more. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. What to include in your planning? The US economic recovery following the 2007 to 2009 recession proved much longer and stronger than the downturn had been. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Since early 2022, mortgage layoffs have been driven by a major decrease in refinance demand and a dwindling pool of eligible home buyers thanks to significantly Addresses for comments differ from those for information requests. Regions acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. Regions reported quarterly net income available to shareholders of $624 million, up 24% from a year earlier. We are trying to get more fee-based revenue sources.. Acquisition further enhances Regions specialty capabilities for business clients. WebAccording to S&P Global Market Intelligence, 208 bank and thrift mergers with an aggregate deal value of $77.5 billion had surfaced through December 20, 2021, up from $28.1 billion in 2020 (when most banking activity stalled due to the pandemic) and $58.4 billion in 2019. Jeremy D. King To the maximum extent allowed by law, PCBB, its employees, partners, and vendors shall have no liability or responsibility whatsoever for any injury or damages whether direct, indirect, consequential, incidental, punitive or otherwise arising in connection with Bank Mergers and Acquisition matrix. New York Community Bancorp, Inc., which struck a deal for Flagstar Bancorp, Inc. for $2.6 billion in April 2021, finally closed the transaction in December 2022a total of nearly 19 months. This website is using a security service to protect itself from online attacks. To begin this process, management should help map out a strategy, so the board can review it. The combination of our two companies will create a new regional force in the banking and financial services industry and further our respective Six key components will be at the heart of initiatives championed by the Making Life Better Institute: * Regions Associates in ActionSM: In 2022 alone, Regions associates volunteered 74,000 hours supporting a variety of important causes. Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. - Media Contact: Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. Regions did not return calls seeking comment. Bernard Bennett Banks, Evanston, Illinois, as trustee of a to-be-formed voting trust, Miami, Florida, for the benefit of Stephen Calk, Miami, Florida; to acquire voting shares of National Bancorp Holdings, Inc., and thereby indirectly acquire voting shares of The Federal Savings Bank, both of Chicago, Illinois. Clearsight Advisors is an investment banking firm dedicated to driving the Knowledge Economy by providing world-class M&A and capital raising solutions exclusively to growth-oriented Business Services and Technology companies. Advisory Services are offered through Cetera Investment Advisers LLC. You should consult privacy disclosures at the linked website for further information. Capital City Bank Group, Inc., Tallahassee, Florida; through its subsidiary bank, Capital City Bank, Tallahassee, Florida, to indirectly acquire an equity interest in SOLCAP 2022-1 LLC, Las Vegas, Nevada, and thereby engage in extending credit and servicing loans and more. BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Financial Corp. (NYSE:RF), the parent company of Regions Bank, on Friday announced it has entered into a definitive agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm serving clients in the technology, professional services, data and information services, and digital and technology-enabled services industries. Credit card issuers say they need more time to respond to the substantial data request made by the Consumer Financial Protection Bureau in its proposal to slash late fees. See how we connect, collaborate, and drive impact across various locations. We have found the ideal partner in Regions Bank to help us enhance our client solutions while also building on the culture and team dynamic that have been a hallmark of Clearsight since its founding.. Wachtell, Lipton, Rosen & Katz . Regional Bank Mergers Face New Hurdles From U.S. Regulators, Cowen Says. WebThe latter made a serious bid for First Interstate, with the two banks reaching a formal merger agreement in November valued initially at $10.3 billion. To be prepared, thats not a time to start from scratch, so you might want to at least sketch out a mergers and acquisitions strategy at some point. Through this page you can find experienced Several clients have reached out to congratulate us and have already started inquiring about additional solutions available through Regions Capital Markets. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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We revisit the idea with our board every year and just come to the conclusion that we can generate a top return for shareholders by focusing on our plan, he said. Branches and Agencies of The response to the earlier announcement of this transaction has already been overwhelmingly positive from our clients and employees, said Clearsight Advisors Co-Founder and CEO Joel Kallett. Athletes' ambitions don't end when they leave the field of play. The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions recent acquisition of Sabal Capital Partners, LLC. Regions Bank In Payments, Like Geopolitics, India Seeks a Third Way, Nintendo Must Plot an Exit From Switchs Uncharted Territory, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Musk Tamps Down Speculation That Tesla Will Mine Lithium, Musk Sets Path to Renewable Future, Is Mum on New-Car Debuts, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. Average daily volume is less than one-sixth that level. The bank announced a $3 billion share repurchase program Monday, which exceeded analysts expectations. Please search by entering criteria below. As a result, the year ahead likely will present stellar opportunities for traditional banks and payment processors unafraid to make bold, proactivealbeit well-consideredmoves. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. WebJanuary 18, 2022 . The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Investments, Annuities, and Insurance Products, 2021 Supplemental Proxy Materials (March 31, 2021), Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023 - PDF, opens in a new window, Regions Bank Increases its Prime Lending Rate - PDF, opens in a new window, Regions Bank Announces Creation of Franchise Lending Team - PDF, opens in a new window, Simpler Payments. Both deals continue the reemergence of super-regional and regional banking M&A. With two notable exceptions, the largest bank M&A transactions also shrank in value considerably. Regions provides links to other websites merely and strictly for your convenience. Regions, the Regions logo and the LifeGreen bike are registered trademarks of Regions Bank. Factors that could cause Regions Financials actual results to differ from those described in the forward-looking statements herein include: expected synergies, cost savings, and other financial or other benefits of the Clearsight transaction might not be realized within the expected timeframes or might be less than projected; difficulties in integrating Clearsights business; the continued or potential effects of the COVID-19 pandemic and related variants and mutations on Regions Financials business, financial condition, and results of operations; and risks identified in Regions Financials Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent filings with the Securities and Exchange Commission. Track your investments 24 hours a day, around the clock from around the world. Morgan Keegan, as well as the combined mortgage business, will be headquartered in Memphis. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. 2023 banking and capital markets M&A outlook: Volatility seeds opportunity has been saved, 2023 banking and capital markets M&A outlook: Volatility seeds opportunity has been removed, An Article Titled 2023 banking and capital markets M&A outlook: Volatility seeds opportunity already exists in Saved items. We share Clearsights innovative, client-driven focus on meeting complex financial needs through deep market knowledge, strong collaboration with our business partners, and a clear emphasis on providing an optimal client experience.. Gain perspectives and insights from some of Deloittes other industry analyses. There were 206 deals overall in 2021. 2023 banking and capital markets M&A outlook, +++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE STUDIO DEVELOPMENT TEAM +++, Telecommunications, Media & Entertainment, M&A Hot Takes series: M&A insights, strategies, and trends. This message will not be visible when page is activated.+++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE STUDIO DEVELOPMENT TEAM +++, Max is a principal with Deloitte's financial services practice and banking mergers & acquisitions (M&A) practice, specializing in the formulation of corporate strategy, M&A integration advisory, and l More, With more than 18 years of experience, Matt is a partner in Deloitte & Touche LLP's mergers & acquisitions (M&A) Transaction Services practice and focuses solely on financial services transactions. Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Forward-looking statements are based on managements expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Factors that could cause Regions Financials actual results to differ from those described in the forward-looking statements herein include: delays in closing the Clearsight Advisors transaction; expected synergies, cost savings, and other financial or other benefits of the Clearsight transaction might not be realized within the expected timeframes or might be less than projected; difficulties in integrating Clearsights business; the continued or potential effects of the COVID-19 pandemic and related variants and mutations on Regions Financials business, financial condition, and results of operations; and risks identified in Regions Financials Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent filings with the Securities and Exchange Commission. Comments regarding the applications and notices must be received in writing at the Reserve Bank indicated, or at the Board of Governors, no later than the end of the public comment period. This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect Regions Financials current views with respect to future events and financial performance. For Members Only Federal Credit Union in Chicago, which was founded by the African American sorority Alpha Kappa Alpha, is focused on helping members build generational wealth. Sabal Capital Partners is also being incorporated into Regions Capital Markets division. Earlier on Friday, Regions reported $649 million in noninterest income for the third quarter, down almost 1% from the same period last year but up nearly 5% from the previous three months. PCBB makes no representations or warranties as to the timeliness, accurateness, or completeness of any data or information relating to Bank Mergers and Acquisition matrix. Now more than ever, players rightly see themselves as multi-faceted entrepreneurs, and seek ways to leverage their brands in everything from real estate to venture capital. BancPacific Financial Holding Corporation, Hagatna, Guam, and Our Lady of Peace Memorial Plan, Inc-Trust Fund, Barrigada, Guam; to become bank holding companies by acquiring BankPacific, Ltd., Hagatna, Guam, upon the conversion of BankPacific, Ltd. from a savings association to a commercial bank. Jeremy D. King Our cultures and approach to teamwork directly complement each other, and we look forward to welcoming the team from Clearsight and combining our strengths to deliver strategic solutions for technology industry clients. Priority Mortgage to merge with Doorway Home Loans (6/10/22) Wyndham Capital Mortgage to cut 48 jobs in Charlotte, NC (6/9/22) Real Genius (FirstBank) laying off 74 employees in Charlotte, NC (6/2/22) Tomo cuts 44 jobs (6/1/22) Real Genius (FirstBank) laying off 35 employees in Nasville, TN (5/31/22) Smith, Gambrell & Russell to have 400 attorneys after merger. Regions Financial plans to incorporate Clearsight into Regions Banks growing Capital Markets division. At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. We are thrilled to be joining forces with Regions Bank to expand services and capital raising options for our clients, said Clearsight Co-Founder and CEO Joel Kallett. To stay logged in, change your functional cookie settings. For banks with $1B and less in assets, factors in deciding whether to acquire another bank include: Branch locations in attractive or growing markets. If the Regions did sell, the If youd like to talk more about banking mergers and acquisitions activity and how your organization can thrive in 2023, lets set up a conversation. This box/component contains code needed on this page. Regions Bank 205-264-7040, Regions News Online: regions.doingmoretoday.com Many banks and financial institutions have halted mergers and acquisitions (M&A) plans while waiting for market uncertainty to stabilize and interest rates to level off. A. Gregg Nelson Family Trust u/a/d March 12, 2020 and the A. Gregg Nelson Marital GST Exempt Trust u/a/d March 12, 2020, Joy A. Nelson as trustee to both trusts, and Timothy Nelson as special asset manager to both trusts, all of Geneva, Illinois; to join the Nelson Family Control Group, a group acting in concert, to acquire voting shares of Geneva Bancshares, Inc., and thereby indirectly acquire voting shares of The State Bank of Geneva, both of Geneva, Illinois. For more information about Clearsight, visit www.clearsightadvisors.com. And visit ourBanking & Capital Markets industry pagefor broader industry insights, analysis, and resources. For reprint and licensing requests for this article, Banking on sisterhood: A Black sorority launches a credit union, Banking, credit union, fintech industry layoffs: 2023, Businesses allege Bank of America pressured them to take out bigger PPP loans, Treasury to lead group developing central bank digital dollar concepts, Citizens finds buy now/pay later opportunity in home technology, Banks seek extension for comments on CFPB's credit card late-fee plan, Umpqua CEO sees 'plenty of opportunity to grow' in wake of deal closing, House Financial Services Committee passes data privacy bill. The bank's price is finally catching up to the rest of the large capitalization banks, said Sally Pope Davis, a bank analyst at Goldman, Sachs & Co. Also, investors are less concerned now that the bank will make undisciplined acquisitions, she said. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. PCBB does not endorse the companies, services, or products referenced and is not responsible for the content, links, privacy or security policies of these third parties. We ensure that you continue to grow and be successful, yet never competing with you for your customers. Download the full 2023 banking and capital markets M&A outlook to explore all the critical insights. Clearsight Advisors is an independent investment banking firm dedicated to driving the Knowledge Economy by providing world-class M&A and capital raising solutions exclusively to growth-oriented Business Services and Technology companies. Regions does not monitor the linked website and has no responsibility whatsoever for or control over the content, services or products provided on the linked website. The combination of Clearsights sector-specific M&A and financial advisory services, and Regions extensive technology sector corporate finance, lending and capital markets solutions, represents a significant opportunity to deliver value for our collective client base. Even so, more can be done. In connection with this application, BAWAG Group The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. Boston has seen a concentration of merger-related activity this year, with four deals announced in as many months. But in an assist to the bottom line, Regions allowance for credit losses was $1 billion smaller than a year ago, landing at $1.5 billion at the end of the third quarter. Our strategic plan at Regions includes identifying areas where we can expand specialty capabilities to offer more solutions to clients while growing our customer base, said David Turner, chief financial officer for Regions Financial Corp. Regions agreement to acquire Clearsight Advisors, as well as our acquisitions of Sabal Capital Partners, home improvement lender EnerBank, Ascentium Capital, and others, reflect this strategy in action. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Than one-sixth that level a $ 3 billion share repurchase program Monday which. Sources.. acquisition further enhances Regions specialty capabilities and M & a outlook to explore the! Business and influence your strategy to explore all the critical insights and the Cloudflare ID! 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