You should not place undue reliance on any forward-looking statements, which speak only as of the date made. 2023. Regions will maintain Clearsights headquarters office in McLean, Virginia, as well as business offices in New York City and Dallas, Texas. Regions Investment Solutions is a marketing name of Cetera Investment Services. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. BankAmerica shares continued a torrid pace, rising $2 to $77.50, the third straight increase of more than $1 per share for the San Francisco- based bank. 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 DTTL (also referred to as "Deloitte Global") does not provide services to clients. 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. 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. Insert Custom CSS fragment. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Review of Monetary Policy Strategy, Tools, and 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. Additional information about Regions and its full line of products and services can be found at www.regions.com. 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. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. 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. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. View the full release here: https://www.businesswire.com/news/home/20220104005197/en/, The acquisition expands Regions mergers-and-acquisitions advisory capabilities into the technology industry. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. On the Go. Clearsight combines deep market insights across software, services and data. Acquisition to further expand Regions specialty capabilities and M&A advisory services. For more information about Clearsight, visit www.clearsightadvisors.com. articles a month for anyone to read, even non-subscribers! Additional information on all bank holding companies may be obtained from the National Information Center website. Your IP: 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. To do this, the board needs an awareness of where the institution fits into the marketplace and who some likely targets or buyers might be. Markets never sleep, and neither does Bloomberg. Average daily volume is less than one-sixth that level. Even so, more can be done. 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. The bank announced a $3 billion share repurchase program Monday, which exceeded analysts expectations. Regions News on Twitter: @RegionsNews. Gain perspectives and insights from some of Deloittes other industry analyses. 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. Regions Bank Dana Nolan Both deals continue the reemergence of super-regional and regional banking M&A. But First Bank ran into 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. WebNov 28, 2022. 45.77.36.165 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. 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. 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. Banking was hardest hit among the three sectors of banking and capital markets (B&CM) last year. Social login not available on Microsoft Edge browser at this time. Media Contact: B&CM winners will recognize that M&A has entered a very different world, with lowered valuations and evolving ownership models. Please enable JavaScript to view the site. 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. 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. WebBanks with Successful M&A Plans Need a Partner to Grow With With the current bank merger activity, many banks and credit unions are looking to grow through acquisition 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. Join over 85,000 subscribers who receive our newsletter every day. Download Regions It could be worthwhile to have a plan just in case. Applications and notices also may be obtained from the Board. 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. 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. Terms were not disclosed. This box/component contains JavaScript that is needed on this page. We revisit the idea with our board Overnight on Wall Street is daytime in Asia. The annual strategic planning session can be a good time to begin a thoughtful, vigorous discussion of the M&A strategy. Further, the acquisition is the latest example of Regions building additional revenue diversification by delivering more high-value, fee-based financial services and originations. "In 2020, not surprisingly, there was a major drop off in transactions. 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. Through this page you can find experienced Sabal is now part of Regions Real Estate Capital Markets division. 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. 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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. Over the last decade, Clearsight has built a solid reputation as a comprehensive M&A firm serving business clients in the high-growth global knowledge economy. Regions Investment Solutions is a marketing name of Cetera Investment Services. Firms with assets over $500 billion at most jeopardy, We are in a period of transition to a new standard: Seiberg. The acquisition expands Regions mergers-and-acquisitions (M&A) advisory capabilities into the technology industry. 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. As M&A activity continues into the future, mapping things out occasionally can make sense. Regions reported quarterly net income available to shareholders of $624 million, up 24% from a year earlier. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. Addresses for comments differ from those for information requests. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. See how we connect, collaborate, and drive impact across various locations. 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. Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock market. As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. 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. 205-264-7040, Regions News Online: regions.doingmoretoday.com 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. Title. Fullwidth SCC. However, these risks and uncertainties are not exhaustive. 205-264-7040, Regions News Online: regions.doingmoretoday.com The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions recent acquisition of Sabal Capital Partners, LLC. Capabilities and M & a ) advisory capabilities into the future, mapping things occasionally... 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