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Holland & Knight LLP served as Clearsight Advisors legal counsel. Regions Bank is an Equal Housing Lender and Member FDIC. 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.. Examples include businesses providing software and cloud services, digital transformation services, technology-oriented management consulting, high-end information technology services, data services, and more. WebRanked by Total deposits in Georgia in 2022. to acquire voting shares of Converse County Capital Corporation, and thereby indirectly acquire voting shares of The Converse County Bank, both of Douglas, Wyoming. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. Comments regarding the applications and notices must be received in writing at the Reserve Bank indicated, or at the Board of Governors, no later than the end of the public comment period. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. 1841 et seq. Advisory Services are offered through Cetera Investment Advisers LLC. But First Bank ran into Exceptional organizations are led by a purpose. Athletes' ambitions don't end when they leave the field of play. 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. Though the year As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. To stay logged in, change your functional cookie settings. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. U.S. Bancorps acquisition of MUFG Union Bank, N.A. Houlihan Lokey represented Regions in connection with the Clearsight Advisors transaction, and Moore & Van Allen PLLC served as Regions legal counsel. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. *If you are having any difficulty accessing your account, please contact us at, Disclaimer and a note about Find a Lawyer and Legal Advice . What are some other key trends, challenges, and opportunities that may affect your business and influence your strategy? For more information about Clearsight, visit www.clearsightadvisors.com. Youre about to leave Regions to use an external site. Regions reported quarterly net income available to shareholders of $624 million, up 24% from a year earlier. 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. Sabal Capital Partners is also being incorporated into Regions Capital Markets division. 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. Track your investments 24 hours a day, around the clock from around the world. 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 merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. Social login not available on Microsoft Edge browser at this time. 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. As a result, Regions is even better positioned to drive positive results for a wider range of clients as we build on our long-term growth.. 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. Copyright 2023 U.S. News & World Report L.P. 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. Regions Investment Solutions is a marketing name of Cetera Investment Services. "In 2020, not surprisingly, there was a major drop off in transactions. 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. 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. Further, the acquisition is the latest example of Regions building additional revenue diversification by delivering more high-value, fee-based financial services and originations. 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Even so, more can be done. View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005197/en/, Media Contact: Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. For over 25 years, PCBB has filled those shoes offering competitive correspondent banking services, lending solutions, international services, advisory services and much more. (Podcast). Where are bank mergers 2022 rumors now Mortgage branches that the report was & quot ;.. 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. The acquisition expands Regions mergers-and-acquisitions (M&A) advisory capabilities into the technology industry. The LifeGreen color is a trademark of Regions Bank. We revisit the idea with our board every year and just come to the conclusion that we can generate a top return for shareholders by focusing on our plan, he said. Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. The action you just performed triggered the security solution. 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 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. Terms of the acquisition were not disclosed. (Photo: Business Wire). Smith, Gambrell & Russell to have 400 attorneys after merger. If the Regions did sell, the SBA 7A Lenders . ), the Change in Bank Control Act (12 U.S.C. Together, Clearsight and Regions are now even better positioned to extend our leadership position advising premier knowledge economy growth companies.. 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. 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. 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. 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. Why the recent wave of regional bank mergers is far from over WebFind Mergers and Acquisitions Law Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . See how we connect, collaborate, and drive impact across various locations. 205-264-7040, Regions News Online: regions.doingmoretoday.com "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. 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. Certain services may not be available to attest clients under the rules and regulations of public accounting. This box/component contains code needed on this page. 2023. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. articles a month for anyone to read, even non-subscribers! Dec 09, 2022. Infrastructures, International Standards for Financial Market This press release features multimedia. Regions Bank Where does the bank and the Fed go from here? 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. 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. WebThis change in legislation led to unprecedented growth. 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. 205-264-4551, Investor Relations Contact: 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. 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