Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. At a minimum, it will help you focus on competitive offerings and provide better insight into the market in your geographic area. 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. Certain services may not be available to attest clients under the rules and regulations of public accounting. However, these risks and uncertainties are not exhaustive. 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. 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. Exceptional organizations are led by a purpose. [Continue Reading]. 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 action you just performed triggered the security solution. Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing "In 2020, not surprisingly, there was a major drop off in transactions. Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. 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. Examples include businesses providing software and cloud services, digital transformation services, technology-oriented management consulting, high-end information technology services, data services, and more. 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.. Both acquisitions reflect Regions strategic plan, which includes identifying areas where the bank can expand its specialty capabilities by offering more solutions for existing clients while building additional growth through reaching new clients that prioritize the additional services now offered by Regions Bank and its subsidiaries. H.8, Assets and Liabilities of U.S. 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. Banking was hardest hit among the three sectors of banking and capital markets (B&CM) last year. 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Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. Please search by entering criteria below. Do not delete! 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. Practices, Structure and Share Data for the U.S. Offices of Foreign Even so, more can be done. Terms, Statistics Reported by Banks and Other Financial Firms in the Holland & Knight LLP served as Clearsight Advisors legal counsel. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. 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. articles a month for anyone to read, even non-subscribers! Review of Monetary Policy Strategy, Tools, and You should not place undue reliance on any forward-looking statements, which speak only as of the date made. 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. 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. to acquire voting shares of Converse County Capital Corporation, and thereby indirectly acquire voting shares of The Converse County Bank, both of Douglas, Wyoming. DTTL and each of its member firms are legally separate and independent entities. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Significantly, average deal value fell nearly in half from $716 million in 2021 to $348 million in 2022, a 51.4% decrease. Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. While B&CM likely will remain constrained in 2023, firms also need to prepare for better times ahead. Additional information about Regions and its full line of products and services can be found at www.regions.com. 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. 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. 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. Clearsight also delivers strategic financial advisory and consulting capabilities. WebFind Mergers and Acquisitions Law Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. Since mid- February, the bank's price has soared 15%. Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. Where does the bank and the Fed go from here? Most megadeals closed in 2022 had been announced in 2021 but underwent regulatory scrutiny that in some cases stretched more than 14 months. In fact, a record low number of transactions, and 2021 has seen a massive spike in transactions. Investments, Annuities, and Insurance Products, 2021 Supplemental Proxy Materials (March 31, 2021), https://www.businesswire.com/news/home/20220104005197/en/, Are Not Insured by Any Federal Government Agency, Are Not a Condition of Any Banking Activity. Advisory Services are offered through Cetera Investment Advisers LLC. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Further, the acquisition is the latest example of Regions building additional revenue diversification by delivering more high-value, fee-based financial services and originations. 51 West 52nd Street . Dec 09, 2022. 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 acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. 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.. Cultivating a sustainable and prosperous future, Real-world client stories of purpose and impact, Key opportunities, trends, and challenges, Go straight to smart with daily updates on your mobile device, See what's happening this week and the impact on your business. Regions provides links to other websites merely and strictly for your convenience. Youre about to leave Regions to use an external site. Internet Explorer presents a security risk. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. However, these risks and uncertainties are not exhaustive. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. 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. Your bank may not be thinking merger and acquisitions, but it could be in your near future. That would mean a sale price between $2.4 billion and $2.6 billion. Regions Bank Launches Business Travel Solution for Corporate Banking Clients, Regions Next Step Survey Finds Many Americans Arent Prepared for Medical Expenses, Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates, Regions Bank Introduces Tuition-Free Education Benefits to All Associates through Guild, Regions Bank Named Military Friendly Employer and Military Spouse Friendly Employer, Expanding Financial Inclusion: Regions Bank Announces ATM Agreement with Community Development Financial Institutions, Regions Financial Scheduled to Participate in Goldman Sachs U.S. Financial Services Conference, Are Not Insured by Any Federal Government Agency, Are Not a Condition of Any Banking Activity. Social login not available on Microsoft Edge browser at this time. 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The following banking M&A trends and drivers are worth watching for their potential impact on headwinds or tailwinds during the coming year. Regions did not return calls seeking comment. Copyright 2023 U.S. News & World Report L.P. The legislation cleared the panel Tuesday night, but Democratic misgivings mean it faces an uphill climb in the Senate. 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. Please see www.deloitte.com/about to learn more about our global network of member firms. The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. The OCC also reviewed the Merger under the criteria of the Bank Merger Act (BMA), 12 USC 1828(c), and 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. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. But in an assist to the bottom line, Regions allowance for credit losses was $1 billion smaller than a year ago, landing at $1.5 billion at the end of the third quarter. Where does the bank and the Fed go from here? At Deloitte, our purpose is to make an impact that matters by creating trust and confidence in a more equitable society. 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) 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. 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. After all, it addresses one of the long-term issues facing the business and it can help determine where you stand for the next 3Y to 5Ys as well. Theme Banking. 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