The bank announced a $3 billion share repurchase program Monday, which exceeded analysts expectations. 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. 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. Regional Bank Mergers Face New Hurdles From U.S. Regulators, Cowen Says. 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. Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced creating new categories for installment lending. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. 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 Investment Solutions is a marketing name of Cetera Investment Services. Acquisition to further expand Regions specialty capabilities and M&A advisory services. 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. You should consult privacy disclosures at the linked website for further information. 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 privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. 2023. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. 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. Addresses for comments differ from those for information requests. 1841 et seq. 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. 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 Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. WebNov 28, 2022. Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. - Firms with assets over $500 billion at most jeopardy. For over 25 years, PCBB has filled those shoes offering competitive correspondent banking services, lending solutions, international services, advisory services and much more. 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. At a minimum, it will help you focus on competitive offerings and provide better insight into the market in your geographic area. If the Regions did sell, the price probably would be in the $53 to $56 per share range, Mr. Coffey said. 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. This enables Clearsight to deliver a deep understanding of market trends and compelling business strategies. 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. 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. Advisory Services are offered through Cetera Investment Advisers LLC. Where does the bank and the Fed go from here? PCBB does not endorse the companies, services, or products referenced and is not responsible for the content, links, privacy or security policies of these third parties. Six key components will be at the heart of initiatives championed by the Making Life Better Institute: * Regions Associates in ActionSM: In 2022 alone, Regions associates volunteered 74,000 hours supporting a variety of important causes. Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock market. Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. 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. Your bank may not be thinking merger and acquisitions, but it could be in your near future. 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. 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.. Jeremy D. King Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. WebBanking and Capital Markets (B&CM) mergers and acquisitions (M&A) activity is firing on all cylinders after impressive increases in deal volume and value in 2021. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. The LifeGreen color is a trademark of Regions Bank. 205-264-7040, Regions News Online: regions.doingmoretoday.com Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Leroy Abrahams, head of Community Affairs for Regions Bank. Please enable JavaScript to view the site. The acquisition expands Regions mergers-and-acquisitions (M&A) advisory capabilities into the technology industry. You can email the site owner to let them know you were blocked. Regions will maintain Clearsights headquarters office in McLean, as well as business offices in New York City and Dallas, Texas. With two notable exceptions, the largest bank M&A transactions also shrank in value considerably. 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. 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 Change in Bank Control Act (12 U.S.C. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. Youre about to leave Regions to use an external site. However, slumping share prices have created pockets of value Clearsight combines deep market insights across software, services and data. [Continue Reading]. We revisit the idea with our board Exceptional organizations are led by a purpose. 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. WebThis change in legislation led to unprecedented growth. Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. Dana Nolan Fullwidth SCC. Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue N.W., Washington, DC 20551, Transcripts and other historical materials, Federal Reserve Balance Sheet Developments, Community & Regional Financial Institutions, Federal Reserve Supervision and Regulation Report, Federal Financial Institutions Examination Council (FFIEC), Securities Underwriting & Dealing Subsidiaries, Types of Financial System Vulnerabilities & Risks, Monitoring Risk Across the Financial System, Proactive Monitoring of Markets & Institutions, Responding to Financial System Emergencies, Regulation CC (Availability of Funds and Collection of Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. *If you are having any difficulty accessing your account, please contact us at, Disclaimer and a note about Find a Lawyer and Legal Advice . For more information about Clearsight, visit www.clearsightadvisors.com. Press Releases 2022. On the Go. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. Together, Clearsight and Regions are now even better positioned to extend our leadership position advising premier knowledge economy growth companies.. H.8, Assets and Liabilities of U.S. 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.. It could be worthwhile to have a plan just in case. Securities and insurance products are offered through Cetera Investment Services LLC, member FINRA/SIPC. Jan 04, 2022. Market pressures and a regulatory rollback have triggered a wave of regional bank M&A that appears likely to continue in the year ahead. (Photo: Business Wire). You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Citizens Financial Group, which has offered point-of-sale financing for iPhones sold through Apple since 2015, is finding that as objects such as refrigerators become more complex and internet-connected, they are also more frequently replaced creating new categories for installment lending. You should consult privacy disclosures at the linked website for further information. Internet Explorer presents a security risk. Brookfield Bancshares, Inc., Brookfield, Illinois; to become a bank holding company by acquiring the voting shares of First National Bank of Brookfield, Brookfield, Illinois. Dec 09, 2022. The combination of Clearsights sector-specific M&A and financial advisory services, and Regions extensive technology sector corporate finance, lending and capital markets solutions, represents a significant opportunity to deliver value for our collective client base. The bank merger market is hot, but Regions has no intention to selling, according to Chief Financial Officer David Turner. The US economic recovery following the 2007 to 2009 recession proved much longer and stronger than the downturn had been. Commercial Banks, Senior Loan Officer Opinion Survey on Bank Lending Through this page you can find 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. 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. SBA 7A Lenders . Toronto-Dominion Bank (TD) purchased First Horizon Corp. for $13.7 billion, and Royal Bank of Canada bought Hong Kong and Shanghai Banking Corp.s (HSBC) Canadian operations for $13.5 billion. WebFind Mergers and Acquisitions Law Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . B&CM winners will recognize that M&A has entered a very different world, with lowered valuations and evolving ownership models. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. Business sectors served by Clearsight include the technology, professional services, data and information services, and digital and technology-enabled services industries. Regions News on Twitter: @RegionsNews, Back to Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and Sabal Capital Partners is also being incorporated into Regions Capital Markets division. Regions Bank is an Equal Housing Lender and Member FDIC. (Podcast). Other sections of such filings describe additional factors that could impact Regions Financials business, financial performance, and consummated acquisition transactions, including the Clearsight transaction. Copyright 2023 U.S. News & World Report L.P. Regions acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. 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. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. 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. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Branches and Agencies of As a result, the year ahead likely will present stellar opportunities for traditional banks and payment processors unafraid to make bold, proactivealbeit well-consideredmoves. 205-264-7040, Regions News Online: regions.doingmoretoday.com 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. DTTL and each of its member firms are legally separate and independent entities. 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. Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. The following companies and individuals seek System approval to acquire a bank holding company, a savings and loan holding company, bank or savings and loan association or a nonbanking company in a transaction that is subject to the Bank Holding company Act of 1956 (12 U.S.C. 45.77.36.165 Youre about to leave Regions to use an external site. Checks), Regulation II (Debit Card Interchange Fees and Routing), Regulation HH (Financial Market Utilities), Federal Reserve's Key Policies for the Provision of Financial 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. Clearsight combines deep market insights across software, services and data. Where does the bank and the Fed go from here? Athletes' ambitions don't end when they leave the field of play. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. Houlihan Lokey represented Regions in connection with the Clearsight Advisors transaction, and Moore & Van Allen PLLC served as Regions legal counsel. However, these risks and uncertainties are not exhaustive. In a year when companies need to make choices, the most successful companies will most likelybe those that recognize 2023 is not a time for inactivity. The executive who functions as the phony-accounts scandal is brewing in 2014, the Change in Control! Time to time the future been in place for fi ve years, digital! 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