Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. 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. Regional banks defined as having between $10 billion and $50 billion in assets were involved in 35 deals, the highest number since 1999. 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. Regions Financial Corp. stock surged in heavy volume Tuesday, as rumors continue to surface that the Birmingham, Ala.-based bank is seeking a buyer. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. 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. Cloudflare Ray ID: 7a15875f2e0549ea 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. Markets never sleep, and neither does Bloomberg. 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. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Regions will maintain Clearsights headquarters office in McLean, as well as business offices in New York City and Dallas, Texas. However, these risks and uncertainties are not exhaustive. 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. [Continue Reading]. That may soon change, starting potentially with Eastern Banks $642 million acquisition of rival Century Bank announced late Wednesday. Credit quality has demonstrated incredible resiliency and continues to exceed our expectations, Regions CEO John Turner said on a call with analysts Friday. This press release features multimedia. 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. 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. An acquisition of Memphis-based Union Planters in 2004 was followed by a merger with cross-town rival AmSouth in 2006. 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. Regions Investment Solutions is a marketing name of Cetera Investment Services. And more. We ensure that you continue to grow and be successful, yet never competing with you for your customers. 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. 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. Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. 2023 Regions Bank. Acquisition further enhances Regions specialty capabilities for business clients. Learn more about how our products and services can support your M&A plans and keep your customers happy with the latest leading-edge technology facilitating settlement, international payments, risk management, loan pricing, and lending solutions. (Photo: Business Wire). "We would not be shocked to see this franchise sell given that its earnings per share growth has been less than impressive," said Henry Coffey, a partner with J.C. Bradford & Co. Earnings growth has been less than 8% annually the last three years, compared to a 10% to 12% average among it peers, he said. But Mr. Coffey, noting that Regions' and Wachovia's territories do not overlap significantly, thinks a merger between the Alabama bank and Atlanta's SunTrust Banks Inc. makes more sense. Dana Nolan With the current bank merger activity, many banks and credit unions are looking to grow through acquisition often need partners that can ensure the back-office services are reliable and maintained, while the institution continues to grow. The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. NationsBank rose $2.375 to $78.50, after increasing 87.5 cents Monday. 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. You can email the site owner to let them know you were blocked. 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. Factors that could cause Regions Financials actual results to differ from those described in the forward-looking statements herein include: delays in closing the Clearsight Advisors transaction; 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. 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. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. The agreement to acquire Clearsight Advisors follows the recent completion of Regions acquisition of Sabal Capital Partners, LLC, a diversified financial services firm that serves clients in the small-balance commercial real estate market. Please try again later. 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. Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market Regions did not return calls seeking comment. Review of Monetary Policy Strategy, Tools, and WebFind Mergers and Acquisitions Law Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . Certain services may not be available to attest clients under the rules and regulations of public accounting. 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. 205-264-7040, Regions News Online: regions.doingmoretoday.com In Payments, Like Geopolitics, India Seeks a Third Way, Nintendo Must Plot an Exit From Switchs Uncharted Territory, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Musk Tamps Down Speculation That Tesla Will Mine Lithium, Musk Sets Path to Renewable Future, Is Mum on New-Car Debuts, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. 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. 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. 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. Since early 2022, mortgage layoffs have been driven by a major decrease in refinance demand and a dwindling pool of eligible home buyers thanks to significantly 45.77.36.165 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. The response to the earlier announcement of this transaction has already been overwhelmingly positive from our clients and employees, said Clearsight Advisors Co-Founder and CEO Joel Kallett. However, slumping share prices have created pockets of value Though the year For over 25 years, PCBB has filled those shoes offering competitive correspondent banking services, lending solutions, international services, advisory services and much more. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. Please include what you were doing when this page came up and the Cloudflare Ray ID found at the bottom of this page. 1841 et seq. 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. Foreign Banks, Charge-Off and Delinquency Rates on Loans and Leases at 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. Title. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. 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. The action you just performed triggered the security solution. Regions, the Regions logo and the LifeGreen bike are registered trademarks of Regions Bank. 2023 Regions Bank. The acquisition expands Regions mergers-and-acquisitions (M&A) advisory capabilities into the technology industry. to acquire voting shares of Converse County Capital Corporation, and thereby indirectly acquire voting shares of The Converse County Bank, both of Douglas, Wyoming. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. Regions provides links to other websites merely and strictly for your convenience. There were 206 deals overall in 2021. Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. 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. It could be worthwhile to have a plan just in case. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. Where are bank mergers 2022 rumors now Mortgage branches that the report was & quot ;.. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. 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. The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. 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. 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