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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 reported quarterly net income available to shareholders of $624 million, up 24% from a year earlier. We are in a period of 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.. 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. In addition to complementing and enhancing the advisory services delivered by Regions Capital Markets, Clearsight is a tremendous cultural fit for Regions. The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. 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You can email the site owner to let them know you were blocked. This box/component contains code needed on this page. Exceptional organizations are led by a purpose. Shares in Regions, which also soared three weeks ago amid heavy trading, rose $2.375 to $48 on volume of 634,600 shares, the third- most-active day for the stock in the past year. 2023. Where are bank mergers 2022 rumors now Mortgage branches that the report was & quot ;.. We reference and link to third party information that we verify to the best of our abilities, but do not guarantee its accuracy. However, slumping share prices have created pockets of value Dana Nolan Keefe, Bruyette & Woods Inc. research director David Berry, however, downgraded the stock to "accumulate" from "buy," citing the rapid price rise over the last six weeks. Branches and Agencies of Most megadeals closed in 2022 had been announced in 2021 but underwent regulatory scrutiny that in some cases stretched more than 14 months. 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. Practices, Structure and Share Data for the U.S. Offices of Foreign 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. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. 205-264-4551, Investor Relations Contact: BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. 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. 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. Our entire team is enthusiastic about the combination and will be remaining with Clearsight to continue providing our world-class M&A advisory services. Checks), Regulation II (Debit Card Interchange Fees and Routing), Regulation HH (Financial Market Utilities), Federal Reserve's Key Policies for the Provision of Financial 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. Jeremy D. King WebThis change in legislation led to unprecedented growth. Please try again later. Regions Investment Solutions is a marketing name of Cetera Investment Services. Addresses for the Board and the Federal Reserve Banks are listed at the end of this release. WebRanked by Total deposits in Georgia in 2022. 1841 et seq. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Regions will maintain Clearsights headquarters office in McLean, Virginia, as well as business offices in New York City and Dallas, Texas. 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. And visit ourBanking & Capital Markets industry pagefor broader industry insights, analysis, and resources. WebFind Litigation - Mergers and Acquisitions Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing Additional information about Regions and its full line of products and services can be found at www.regions.com. Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. 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. 205-264-4551, Investor Relations Contact: Clearsight also delivers strategic financial advisory and consulting capabilities. Even so, more can be done. "In 2020, not surprisingly, there was a major drop off in transactions. 2023 Regions Bank. Please search by entering criteria below. 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 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. 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. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. 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) 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. 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. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. 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. But First Bank ran into To ensure the most secure and best overall experience on our website, we recommend the latest versions of, the recent completion of Regions acquisition. A bank spokesperson placed responsibility on PPP borrowers for the representations they made in loan applications. What Could Elon Musk Possibly Be Thinking? The following banking M&A trends and drivers are worth watching for their potential impact on headwinds or tailwinds during the coming year. Regions Investment Solutions is a marketing name of Cetera Investment Services. (Podcast). Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. 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. "There is greater recognition of management discipline and that the stock, even at these levels, is fairly inexpensive," she said. We ensure that you continue to grow and be successful, yet never competing with you for your customers. Youre about to leave Regions to use an external site. 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. The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock 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. We revisit the idea with our board 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. Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023. Our 2023 banking and capital markets M&A outlook examines five trends and drivers that can help your business optimize its deal-making strategy and position itself for growth and resilience. Market pressures and a regulatory rollback have triggered a wave of regional bank M&A that appears likely to continue in the year ahead. And more. The bank announced a $3 billion share repurchase program Monday, which exceeded analysts expectations. to acquire voting shares of Converse County Capital Corporation, and thereby indirectly acquire voting shares of The Converse County Bank, both of Douglas, Wyoming. Jeremy D. King Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Regional bank deals hit a 20-year high in 2019. However, these risks and uncertainties are not exhaustive. Other sections of such filings describe additional factors that could impact Regions Financials business, financial performance, and pending or consummated acquisition transactions, including the Clearsight transaction. 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. 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. The legislation cleared the panel Tuesday night, but Democratic misgivings mean it faces an uphill climb in the Senate. Regions Financial Corp. (NYSE:RF), the parent company ofRegions Bank, on Tuesday announced it has completed its acquisition of Clearsight Advisors, Inc. The acquisition expands Regions mergers-and-acquisitions (M&A) advisory capabilities into the technology industry. 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. DTTL (also referred to as "Deloitte Global") does not provide services to clients. Additional information on all bank holding companies may be obtained from the National Information Center website. 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.. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. 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