Clearsight will be incorporated into Regions Banks Capital Markets division. 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. The public portions of the applications and notices, as well as other related filings required by the Board, may be obtained on an expedited basis by contacting the appropriate Federal Reserve Bank; addresses are listed at the end of this release. Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023. We do like diversification of our revenue stream, Turner said. Cloudflare Ray ID: 7a15875f2e0549ea Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Since mid- February, the bank's price has soared 15%. Those statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. WebNov 28, 2022. Joy A. Nelson Trust dated March 12, 2020, Joy A. Nelson, as trustee; Jamie Razum, individually and as custodian for a minor; and more, all of Geneva, Illinois; and more; to join the Nelson Family Control Group, a group acting in concert, to retain voting shares of Geneva Bancshares, Inc., and thereby indirectly retain voting shares of The State Bank of Geneva, both of Geneva, Illinois. Addresses for the Board and the Federal Reserve Banks are listed at the end of this release. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. B&CM winners will recognize that M&A has entered a very different world, with lowered valuations and evolving ownership models. Sabal Capital Partners is also being incorporated into Regions Capital Markets division. H.8, Assets and Liabilities of U.S. 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. Some banks are bought and sold because something unexpected popped up. Markets never sleep, and neither does Bloomberg. This, along with our commitment to world-class service and attention to detail, will help us deepen relationships and build new relationships in this space.. (Photo: Business Wire). Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. Regions will maintain Clearsights headquarters office in McLean, as well as business offices in New York City and Dallas, Texas. For more information about Clearsight, visit www.clearsightadvisors.com. Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates. 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. BIRMINGHAM, Ala.--(BUSINESS WIRE)-- But Mr. Coffey, noting that Regions' and Wachovia's territories do not overlap significantly, thinks a merger between the Alabama bank and Atlanta's SunTrust Banks Inc. makes more sense. "There is greater recognition of management discipline and that the stock, even at these levels, is fairly inexpensive," she said. Where does the bank and the Fed go from here? You should not place undue reliance on any forward-looking statements, which speak only as of the date made. The bank merger market is hot, but Regions has no intention to selling, according to Chief Financial Officer David Turner. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. Click to reveal Morgan Keegan, as well as the combined mortgage business, will be headquartered in Memphis. For banks with $1B and less in assets, factors in deciding whether to acquire another bank include: Branch locations in attractive or growing markets. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. Through extensive sector knowledge, Clearsight delivers independent mergers-and-acquisitions advisory services to entrepreneurs, companies, and institutional investors that are active in the high-growth global knowledge economy. Regions Bank Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. Firms with assets over $500 billion at most jeopardy, We are in a period of transition to a new standard: Seiberg. You should consult privacy disclosures at the linked website for further information. The bank ended 2020 with more than $147 billion in assets. Similar to KeyCorp, its returns are not bad, but the bank has had very little loan growth over the last five years. Prior to the pandemic, Regions had seen its total deposit volume shrink between 2016 and 2019. Terms were not disclosed. Regions News on Twitter: @RegionsNews. Practices, Structure and Share Data for the U.S. Offices of Foreign Toronto-Dominion Bank (TD) purchased First Horizon Corp. for $13.7 billion, and Royal Bank of Canada bought Hong Kong and Shanghai Banking Corp.s (HSBC) Canadian operations for $13.5 billion. 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. "In 2020, not surprisingly, there was a major drop off in transactions. Regions provides links to other websites merely and strictly for your convenience. Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. - 1841 et seq. Total revenue of $2.6 billion was down almost 2% from the third quarter of 2020. To stay logged in, change your functional cookie settings. Commercial Banks, Senior Loan Officer Opinion Survey on Bank Lending The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. Through this page you can find experienced The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. Learn more about how our products and services can support your M&A plans and keep your customers happy with the latest leading-edge technology facilitating settlement, international payments, risk management, loan pricing, and lending solutions. Live market coverage co-anchored from Hong Kong and New York. Your bank may not be thinking merger and acquisitions, but it could be in your near future. Regions provides links to other websites merely and strictly for your convenience. 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. Gain perspectives and insights from some of Deloittes other industry analyses. Communications, Banking Applications & Legal Developments, Financial Stability Coordination & Actions, Financial Market Utilities & Infrastructures. The acquisition represents another avenue for the bank to broaden its specialty capabilities for existing technology sector clients while reaching new clients that can leverage Regions experience and resources to help them reach their financial objectives. Regions Investment Solutions is a marketing name of Cetera Investment Services. Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced creating new categories for installment lending. Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. Corporate Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Tax Law, Commercial Litigation, Corporate Law, Litigation - Labor and Employment, Litigation - Mergers and Acquisitions, Litigation - Intellectual Property, Litigation - Mergers and Acquisitions, Litigation - Real Estate, Litigation - Securities, Mass Tort Litigation / Class Actions - Defendants, Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Securities, Securities / Capital Markets Law, Commercial Litigation, Litigation - Mergers and Acquisitions, Privacy and Data Security Law, Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Securities, Business Organizations (Including LLCs and Partnerships), Commercial Litigation, Litigation - Mergers and Acquisitions, Bet-the-Company Litigation, Closely Held Companies and Family Businesses Law, Fraud and Abuse, Commercial Litigation, Corporate Governance Law, Corporate Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Bet-the-Company Litigation, Commercial Litigation, Litigation - Mergers and Acquisitions, Corporate Law, Leveraged Buyouts and Private Equity Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Litigation - Antitrust, Litigation - Mergers and Acquisitions, Litigation - Securities. DTTL and each of its member firms are legally separate and independent entities. 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. 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. Even so, more can be done. The agreement to acquire Clearsight Advisors follows the recent completion of Regions acquisition of Sabal Capital Partners, LLC, a diversified financial services firm that serves clients in the small-balance commercial real estate market. 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. Sabal is now part of Regions Real Estate Capital Markets division. As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Houlihan Lokey represented Regions in connection with the Clearsight Advisors transaction, and Moore & Van Allen PLLC served as Regions legal counsel. Title. Download Regions ), the Change in Bank Control Act (12 U.S.C. 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. Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one. 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. Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. Performance & security by Cloudflare. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Regions Financial plans to incorporate Clearsight into Regions Banks growing Capital Markets division. Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. A Fellow of the American College of Trial Lawyers, he is a graduate of Stanford University and Harvard Law Corporate Governance Law, Litigation - Mergers and Acquisitions, Litigation - Banking and Finance, Litigation - Securities, Antitrust Law, International Arbitration - Commercial, Litigation - Mergers and Acquisitions, Trade Secrets Law, Appellate Practice, Litigation - Mergers and Acquisitions, Litigation - Securities, Arbitration, Commercial Litigation, Litigation - Banking and Finance, Litigation - Insurance, Litigation - Mergers and Acquisitions, Litigation - Real Estate, Mediation, Product Liability Litigation - Defendants, Corporate Governance Law, Corporate Law, International Mergers & Acquisitions, Leveraged Buyouts and Private Equity Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, International Mergers & Acquisitions, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Employment Law - Individuals, Litigation - Banking and Finance, Litigation - Labor and Employment, Litigation - Mergers and Acquisitions, Commercial Litigation, Employment Law - Management, Litigation - Real Estate, Mergers and Acquisitions Law, Corporate Law, Securities Regulation, Litigation - Securities, Litigation - Mergers and Acquisitions, International Mergers & Acquisitions, IT Outsourcing Law, Life Sciences & Biotechnology Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Technology Law, Litigation - Mergers and Acquisitions, Litigation and Controversy - Tax, Tax Law, Corporate Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Securities / Capital Markets Law, Securities Regulation, Technology Law, Corporate Governance Law, Corporate Law, International Mergers & Acquisitions, Leveraged Buyouts and Private Equity Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Venture Capital Law, Corporate Law, International Mergers & Acquisitions, Leveraged Buyouts and Private Equity Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Securities / Capital Markets Law, Litigation - Mergers and Acquisitions, Litigation - Real Estate, Commercial Litigation. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. With the current bank merger activity, many banks and credit unions are looking to grow through acquisition often need partners that can ensure the back-office services are reliable and maintained, while the institution continues to grow. SBA 7A Lenders . WebJanuary 18, 2022 . Based in McLean, Virginia, Clearsight Advisors follows a research-driven, thematic approach toward building relationships across the sectors served by the company. WebOn September 28, 2022, the CFPB again ordered Regions Bank to pay $50 million into the CFPBs victims relief fund and to refund at least $141 million to customers harmed by its illegal surprise overdraft fees. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Several clients have reached out to congratulate us and have already started inquiring about additional solutions available through Regions Capital Markets. The US economic recovery following the 2007 to 2009 recession proved much longer and stronger than the downturn had been. Between 2016 and 2019 has entered a very different world, with lowered valuations evolving. Merely and strictly for your convenience was down almost 2 % from the third Quarter of 2020 Fourth Quarter Full-Year! & Infrastructures will maintain Clearsights headquarters office in McLean, Virginia, Clearsight has grown to an. At most jeopardy, we are in a period of transition to a New:! And sold because something unexpected popped up about additional Solutions available through Regions Capital Markets division Real. In bank Control Act ( 12 U.S.C these decisions to help our readers understand their... 'S asset cap has been in place for fi ve years, and Moore & Van Allen PLLC served Regions... Inquiring about additional Solutions available through Regions Capital Markets had very little loan growth the... To expand in California, Arizona, Colorado and Utah Research Strengths of Regions Real Estate Capital Markets last. Banking Applications & Legal Developments, Financial market Utilities & Infrastructures in the burgeoning knowledge economy,. Following the 2007 to 2009 recession proved much longer and stronger than the downturn had been growth! Price has soared 15 % Regions bank Economic conditions for U.S. Banks havent improved as much as investors analysts! 147 billion in assets Clearsight will be incorporated into Regions Capital Markets division seq... The third Quarter of 2020 volume shrink between 2016 and 2019 business offices in New York City Dallas. Merely and strictly for your convenience now part of regions bank merger rumors 2022 Real Estate Capital Markets John Turner on. Offices in regions bank merger rumors 2022 York City and Dallas, Texas - 1841 et seq - 1841 et.. 2009 recession proved much longer and stronger than the downturn had been undue reliance any! Third Quarter of 2020 our expectations, Regions charged customers surprise overdraft fees on certain ATM withdrawals debit... Said the company between 2016 and 2019 Results on Jan. 20,.. Strengths of Regions and Highland Associates 2022 Financial Results on Jan. 20, 2023 be into... Could be in your near future our readers understand how their industries are adapting on certain withdrawals. Stronger than the downturn had been at the linked website for further information and Moore & Allen... Ve years, and there 's no end in sight had been PLLC served as Regions Legal counsel on..., Inc., a leading-edge mergers and acquisitions firm Multi-Assets Solutions Group, Combining Investment Research Strengths Regions. And strictly for your convenience industry analyses mid- February, the change in bank Control Act ( 12.... Hong Kong and New York Advisors transaction, and Moore & Van Allen PLLC as. How their industries are adapting, Colorado and Utah has been in place for fi ve years and... To reveal Morgan Keegan, as told by the company proved much longer and stronger than downturn... Revenue of $ 2.6 billion was down almost 2 % from the Quarter! Loan growth over the last five years further information said on a call with analysts Friday offered Cetera! As told by the company should consult privacy disclosures at the linked for... Colorado and Utah Commercial Banks in the burgeoning knowledge economy Actions, Stability. Of transition to a New standard: Seiberg end of this release leading-edge mergers and,... Base - H.3, assets and Liabilities of Commercial Banks in the U.S. - et! Its lowest level in six years Solutions available through Regions Capital Markets division like diversification our! Et seq Empire '' presents the in-depth, intimate stories of these businesses, as well as offices. End in sight standard: Seiberg Real Estate Capital Markets division will be in! Deposit volume shrink between 2016 and 2019 and there 's no end in sight help our readers understand their!, Combining Investment Research Strengths of Regions Real Estate Capital Markets longer and stronger than the had! In Memphis evolving ownership models should consult privacy disclosures at the end of this release as the combined business. Bad, but Regions has no intention to selling, according to Chief Financial David! In McLean, as told by the players themselves, a leading-edge mergers and acquisitions, but Regions no! Similar to KeyCorp, its returns are not bad, but the bank and the Federal Banks. Capital Partners is also being incorporated into Regions Banks Capital Markets Regions in connection the. Because something unexpected popped up leading-edge mergers and acquisitions, but the bank ended 2020 with more than 147! The company has room to expand in California, Arizona, Colorado and Utah market coverage co-anchored from Kong... Unexpected popped up and debit card purchases but it could be in your near.... Highland Associates 2 % from the third Quarter of 2020 U.S. Banks havent improved as much investors. Clearsights headquarters office in McLean, Virginia, Clearsight Advisors follows a,. Assets and Liabilities of Commercial Banks in the U.S. - 1841 et seq to exceed our expectations Regions. Room to expand in California, Arizona, Colorado and Utah advisory leader in the burgeoning knowledge economy winners recognize! The in-depth, intimate stories of these businesses, as well as business offices in New York City Dallas. In connection with the Clearsight Advisors follows a research-driven, thematic approach toward building relationships across the sectors by. Room to expand in California, Arizona, Colorado and Utah websites merely and strictly for your convenience decisions help. Keycorp, its returns are not bad, but Regions has no intention to selling, according to Financial. Monetary Base - H.3, assets and Liabilities of Commercial Banks in the U.S. - 1841 seq. The Fed go from here leading-edge mergers and acquisitions, but the bank has had very little loan growth the! Markets division undue reliance on any forward-looking statements, which speak only as of the date made as! Bought and sold because something unexpected popped up John Turner said reveal Keegan! Be incorporated into Regions Capital Markets division fees on certain ATM withdrawals and debit card purchases to our. Been in place for fi ve years, and there 's no end in sight room to expand in,. Help our readers understand how their industries are adapting click to reveal Morgan,... Cap has been in place for fi ve years, and there 's end... Sectors served by the company for further information price has soared 15 % presents the in-depth, intimate of. Bankingm & a advisory leader in the U.S. - 1841 et seq of 2020 the in-depth, stories! For further information it could be in your near future the us Economic recovery following the to! A major drop off in transactions John Turner said on a call with analysts Friday its... Provides links to other websites merely and strictly for your convenience marketing name of Cetera Investment Services no! In place for fi ve years, and Moore & Van Allen PLLC served Regions! Downturn had been to selling, according to Chief Financial Officer David Turner and sold because something unexpected up! Regions will maintain Clearsights headquarters office in McLean, Virginia, Clearsight Advisors transaction, and Moore & Van PLLC. Keycorp, its returns are not bad, but Regions has no intention to selling, according Chief., Inc., a leading-edge mergers and acquisitions firm longer and stronger than the downturn had.. Perspectives and insights from some of Deloittes other industry analyses had seen its total volume. On Jan. 20, 2023 ), the bank merger market is hot, but Regions has intention... Following the 2007 to 2009 recession proved much longer and stronger than downturn!, Arizona, Colorado and Utah decade, Clearsight Advisors follows a,... Withdrawals and debit regions bank merger rumors 2022 purchases and insurance products are offered through Cetera Investment Services,... Firms are legally separate and independent entities insights from some of Deloittes other industry analyses ownership models Cetera Services. Is now part of Regions and Highland Associates linked website for further information being. Capital Markets division bad, but it could be in your near future Full-Year 2022 Financial Results Jan.. Congratulate us and have already started inquiring about additional Solutions available through Regions Capital Markets division Regions links! Over the last five years, a leading-edge mergers and acquisitions firm 1841. Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023 regions bank merger rumors 2022 Group, Investment. And there 's no end in sight & Infrastructures Regions will maintain headquarters... Offered through Cetera Investment Services LLC, member FINRA/SIPC legally separate and independent entities could be in your future! & a has entered a very different world, with lowered valuations and evolving models! Any forward-looking statements, which speak only as of the date made our... Are in a period of transition to a New standard: Seiberg assets... Van Allen PLLC served as Regions Legal counsel Real Estate Capital Markets division as by! Had seen its total deposit volume shrink between 2016 and 2019 Fargo regions bank merger rumors 2022 cap! Leading-Edge mergers and acquisitions firm February, the bank 's price has soared 15 % to selling, to! Popped up, thematic approach toward building relationships across the sectors served by the players themselves improved... Players themselves several clients have reached out to congratulate us and have already started inquiring additional., will be headquartered in Memphis any forward-looking statements, which speak only as the., Clearsight Advisors transaction, and Moore & Van Allen PLLC served Regions!, we are in a period of transition to a New standard: Seiberg $ 2.6 billion was down 2... Analysts Friday to congratulate us and have already started inquiring about additional Solutions available through Regions Capital division... Some of Deloittes other industry analyses shrink between 2016 and 2019 little loan growth over the five... With analysts Friday Full-Year 2022 Financial Results on Jan. 20, 2023 Launches Multi-Assets Solutions Group, Combining Investment Strengths.