Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. 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. 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. 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. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. Total 2022 volume fell to 167 closed transactions totaling $22.6 billion, compared with 205 closed deals totaling $76.6 billion the previous yeardrops of 18.5% and 70.5% in aggregate deal volume and value, respectively. Media Contact: 2023 Regions Bank. The OCC also reviewed the Merger under the criteria of the Bank Merger Act (BMA), 12 USC 1828(c), and Jan 24, 2023, 12:07 pm EST. See Terms of Use for more information. Total revenue of $2.6 billion was down almost 2% from the third quarter of 2020. Cloudflare Ray ID: 7a15875f2e0549ea 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.. Additional information on all bank holding companies may be obtained from the National Information Center website. Terms were not disclosed. (Podcast). 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. B&CM winners will recognize that M&A has entered a very different world, with lowered valuations and evolving ownership models. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Join over 85,000 subscribers who receive our newsletter every day. Smith, Gambrell & Russell to have 400 attorneys after merger. Live from New York and Hong Kong, bringing you the essential stories from the close of the U.S. markets to the open of trading across Asia. 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. 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. You should consult privacy disclosures at the linked website for further information. 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. 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. 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. Social login not available on Microsoft Edge browser at this time. What to include in your planning? Regions did not return calls seeking comment. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 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. Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates. Press Releases 2022. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. And visit ourBanking & Capital Markets industry pagefor broader industry insights, analysis, and resources. Regions, the Regions logo and the LifeGreen bike are registered trademarks 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. 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. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Regional Bank Mergers Face New Hurdles From U.S. Regulators, Cowen Says. 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. The action you just performed triggered the security solution. 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. Banking was hardest hit among the three sectors of banking and capital markets (B&CM) last year. 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. New York, New York 10019-6150 . 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. 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. An acquisition of Memphis-based Union Planters in 2004 was followed by a merger with cross-town rival AmSouth in 2006. The bank merger market is hot, but Regions has no intention to selling, according to Chief Financial Officer David Turner. The combination of our two companies will create a new regional force in the banking and financial services industry and further our respective Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. Web04/27/2022: Capital City Bank Group, Inc., Tallahassee, Florida; through its subsidiary bank, Capital City Bank, Tallahassee, Florida, to indirectly acquire an equity interest in Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. Please search by entering criteria below. Title. That would mean a sale price between $2.4 billion and $2.6 billion. Regions Financial Corp. (NYSE:RF), the parent company ofRegions Bank, on Tuesday announced it has completed its acquisition of Clearsight Advisors, Inc. 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. Through this page you can find 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. Please enable JavaScript to view the site. In connection with this application, BAWAG Group Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Infrastructures, International Standards for Financial Market Through this page you can find experienced Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. Clearsight will be incorporated into Regions Banks Capital Markets division. 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. Addresses for the Board and the Federal Reserve Banks are listed at the end of this release. 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