Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions recent acquisition of Sabal Capital Partners, LLC. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. The LifeGreen color is a trademark of Regions Bank. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. from Mitsubishi UFG Financial Group for nearly $8 billion, announced in September 2021, closed in December 2022. We are trying to get more fee-based revenue sources.. Regions Bank Launches Business Travel Solution for Corporate Banking Clients - PDF, opens in a new window, Regions Next Step Survey Finds Many Americans Arent Prepared for Medical Expenses - PDF, opens in a new window, Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates - PDF, opens in a new window, Regions Bank Introduces Tuition-Free Education Benefits to All Associates through Guild - PDF, opens in a new window, Regions Bank Named Military Friendly Employer and Military Spouse Friendly Employer - PDF, opens in a new window, Expanding Financial Inclusion: Regions Bank Announces ATM Agreement with Community Development Financial Institutions - PDF, opens in a new window, Regions Financial Scheduled to Participate in Goldman Sachs U.S. Financial Services Conference - PDF, opens in a new window, Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023, Regions Bank Increases its Prime Lending Rate, Regions Bank Announces Creation of Franchise Lending Team, Simpler Payments. Through this page you can find experienced 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. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. You should consult privacy disclosures at the linked website for further information. Addresses for comments differ from those for information requests. Together, Clearsight and Regions are now even better positioned to extend our leadership position advising premier knowledge economy growth companies.. We revisit the idea with our board Regions News on Twitter: @RegionsNews. Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Sabal is now part of Regions Real Estate Capital Markets division. Banking and Capital Markets (B&CM) mergers and acquisitions (M&A) activity is firing on all cylinders after impressive increases in deal volume and value in 2021. Though the year ahead wont be without headwinds, there are many reasons to engage in dealmaking in 2022. 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. Firms with assets over $500 billion at most jeopardy, We are in a period of transition to a new standard: Seiberg. to acquire voting shares of IncumbentFI, Inc., Wilmington, Delaware, and thereby engage in data processing, data storage and data transmission services pursuant to section 225.28(b)(14)(i) and (ii) of the Boards Regulation Y. to become a bank holding company by acquiring Peak Bancorp, Inc., and thereby indirectly acquiring Idaho First Bank, both of McCall, Idaho. While US volume and values exceeded 2020s pandemic lows, the number of transactions and overall deal value fell off substantially from the soaring 2021 market. Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. Regions Bank and Clearsight Advisors are both known for taking a holistic, insightful view of our clients needs and delivering customized solutions based on our depth of market knowledge and our passion for delivering a superior client experience, said Joel Stephens, head of Capital Markets for Regions Bank. Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock market. 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. As a result, the year ahead likely will present stellar opportunities for traditional banks and payment processors unafraid to make bold, proactivealbeit well-consideredmoves. Please search by entering criteria below. We ensure that you continue to grow and be successful, yet never competing with you for your customers. Sabal Capital Partners is also being incorporated into Regions Capital Markets division. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. All Rights Reserved. Regions Bank Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. In recent months, the regional banking space has already experienced lots of change after several high-profile acquisitions. But there could still be lots more mergers and acquisitions (M&A) activity on the way, especially as the banking environment becomes more competitive and credit quality and earnings begin to stabilize. All Rights Reserved. The deal would create an entity with about $22.4 billion in assets that would become the third-largest New England-based retail bank, behind Providence, Rhode Islands Citizens Bank ($183 billion) and Waterbury, Connecticut-based Webster Bank (about $30 billion), according to The Boston Globe. The LifeGreen color is a trademark of Regions Bank. Arbitragers who have short position in Regions in hopes of locking in a profit on its purchase of Gainesville, Ga.-based First National Bancorp may be covering their short positions as the closing date of the deal approaches, said Darren Short, a bank analyst with Robinson- Humphrey Co. At Feb. 15, 869,713 shares of Regions were sold short. The following companies and individuals seek System approval to acquire a bank holding company, a savings and loan holding company, bank or savings and loan association or a nonbanking company in a transaction that is subject to the Bank Holding company Act of 1956 (12 U.S.C. Internet Explorer presents a security risk. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and You should consult privacy disclosures at the linked website for further information. (Photo: Business Wire). This website is using a security service to protect itself from online attacks. Acquisition to further expand Regions specialty capabilities and M&A advisory services. There may be one other explanation for Tuesday's rise in Regions' share price, however. Regions provides links to other websites merely and strictly for your convenience. "There is greater recognition of management discipline and that the stock, even at these levels, is fairly inexpensive," she said. View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005197/en/, Media Contact: In connection with this application, BAWAG Group 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. Dana Nolan U.S. policy makers could stand in the way of large regional-bank takeovers as Democrats in Congress and President Joe Bidens administration push for greater scrutiny of mergers, according to Cowen Inc. At greatest risk are deals that create lenders with more than $500 billion in assets, but even smaller tie-ups may be in jeopardy amid increased scrutiny by the Federal Reserve, the Federal Deposit Insurance Corp. and the Office of the Comptroller of the Currency, Cowen analyst Jaret Seiberg wrote in a note to clients Tuesday. For over 25 years, PCBB has filled those shoes offering competitive correspondent banking services, lending solutions, international services, advisory services and much more. 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. Based in McLean, Virginia, Clearsight Advisors follows a research-driven, thematic approach toward building relationships across the sectors served by the company. 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. Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. At a minimum, it will help you focus on competitive offerings and provide better insight into the market in your geographic area. Regions Financial Corp. (NYSE:RF), the parent company ofRegions Bank, on Tuesday announced it has completed its acquisition of Clearsight Advisors, Inc. 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. The bank merger market is hot, but Regions has no intention to selling, according to Chief Financial Officer David Turner. Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. Regional Bank Mergers Face New Hurdles From U.S. Regulators, Cowen Says. Strategically, we were seeking a partner that would help us expand our ability to provide a more fulsome suite of services and capital options for our growing client base, while identifying the right culture match for our team. 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. H.8, Assets and Liabilities of U.S. 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. Regions Financial plans to incorporate Clearsight into Regions Banks growing Capital Markets division. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. 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. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. Regions Bank "We would not be shocked to see this franchise sell given that its earnings per share growth has been less than impressive," said Henry Coffey, a partner with J.C. Bradford & Co. Earnings growth has been less than 8% annually the last three years, compared to a 10% to 12% average among it peers, he said. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Cloudflare Ray ID: 7a15875f2e0549ea 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. 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. This enables Clearsight to deliver a deep understanding of market trends and compelling business strategies. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. 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. 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. (Photo: Business Wire). Join over 85,000 subscribers who receive our newsletter every day. For more information about Clearsight, visit www.clearsightadvisors.com. To begin this process, management should help map out a strategy, so the board can review it. 45.77.36.165 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. Read the full review of 2022 across banking, fintech, and investment management (IM) and wealth management (WM) by downloading the 2023 banking and capital markets M&A outlook. 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. Practices, Structure and Share Data for the U.S. Offices of Foreign ), the Change in Bank Control Act (12 U.S.C. Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. Regions acquisition of Clearsight is expected to close by the end of 2021 subject to satisfaction of customary closing conditions. Wachtell, Lipton, Rosen & Katz . Regions Bank is an Equal Housing Lender and Member FDIC. Regions executives continue to look for opportunities to make an acquisition, potentially in corporate finance or wealth management, though prices for some companies are quite high, Chief Financial Officer David Turner said in an interview Friday. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at WebJanuary 18, 2022 . The small businesses said in a lawsuit that the bank used "misleading marketing and business practices" to rake in processing fees from oversized Paycheck Protection Program loans. BIRMINGHAM, Ala. -- (BUSINESS WIRE)-- Regions Financial Corp. Dana Nolan Both deals continue the reemergence of super-regional and regional banking M&A. Clearsight will be incorporated into Regions Banks Capital Markets division. Where does the bank and the Fed go from here? 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. Regions Bank 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. 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. Regions Financial Corp. stock surged in heavy volume Tuesday, as rumors continue to surface that the Birmingham, Ala.-based bank is seeking a buyer. At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. On the Go. 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And visit ourBanking & Capital Markets industry pagefor broader industry insights, analysis, and resources. We are in a period of *If you are having any difficulty accessing your account, please contact us at, Disclaimer and a note about Find a Lawyer and Legal Advice . BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Terms, Statistics Reported by Banks and Other Financial Firms in the Please see www.deloitte.com/about to learn more about our global network of member firms. 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. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications. Advisory Services are offered through Cetera Investment Advisers LLC. That would mean a sale price between $2.4 billion and $2.6 billion. 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. 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. WebRanked by Total deposits in Georgia in 2022. Regions Financial, which has made two deals to buy nonbanks in recent months, is on the lookout for more such acquisitions as it seeks to diversify its revenues. 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.. If the Regions did sell, the price probably would be in the $53 to $56 per share range, Mr. Coffey said. The words future, anticipates, assumes, intends, plans, seeks, believes, predicts, potential, objective, estimates, expects, targets, projects, outlook, forecast, would, will, may, might, could, should, can, and similar expressions often signify forward-looking statements. 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. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. See how we connect, collaborate, and drive impact across various locations. The following banking M&A trends and drivers are worth watching for their potential impact on headwinds or tailwinds during the coming year. The $156.1 billion-asset company completed its purchase of home-improvement lender Enerbank USA earlier this month, adding about $3.1 billion in loans. Several clients have reached out to congratulate us and have already started inquiring about additional solutions available through Regions Capital Markets. 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. 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. 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. Download the full 2023 banking and capital markets M&A outlook to explore all the critical insights. Infrastructures, Payments System Policy Advisory Committee, Finance and Economics Discussion Series (FEDS), International Finance Discussion Papers (IFDP), Estimated Dynamic Optimization (EDO) Model, Aggregate Reserves of Depository Institutions and the Youre about to leave Regions to use an external site. Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Commercial Litigation, Derivatives and Futures Law, Litigation - Antitrust, Litigation - Banking and Finance, Litigation - Bankruptcy, Litigation - Mergers and Acquisitions Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Regulatory Enforcement (SEC, Telecom, Energy), Litigation - Securities, Litigation - Mergers and Acquisitions, Litigation - Securities, Litigation - Securities, Litigation - Mergers and Acquisitions. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. 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. 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. 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. Why? As M&A activity continues into the future, mapping things out occasionally can make sense. Leroy Abrahams, head of Community Affairs for Regions Bank. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. , Colorado and Utah out to congratulate us and have already started inquiring about additional available... Undue reliance on any forward-looking statements, which speak only as of the for! 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