In other market news Tuesday, shares of NationsBank Corp. and BankAmerica Corp. continued their steady rise. Average daily volume is less than one-sixth that level. 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. The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. Banking was hardest hit among the three sectors of banking and capital markets (B&CM) last year. This enables Clearsight to deliver a deep understanding of market trends and compelling business strategies. Though the year As M&A activity continues into the future, mapping things out occasionally can make sense. Copyright 2023 U.S. News & World Report L.P. 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. Many banks and financial institutions have halted mergers and acquisitions (M&A) plans while waiting for market uncertainty to stabilize and interest rates to level off. 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. DTTL and each of its member firms are legally separate and independent entities. Join over 85,000 subscribers who receive our newsletter every day. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. Terms were not disclosed. 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. WebAccording to S&P Global Market Intelligence, 208 bank and thrift mergers with an aggregate deal value of $77.5 billion had surfaced through December 20, 2021, up from $28.1 billion in 2020 (when most banking activity stalled due to the pandemic) and $58.4 billion in 2019. If the Regions did sell, the 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. Regions will maintain Clearsights headquarters office in McLean, as well as business offices in New York City and Dallas, Texas. 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. 205-264-4551, Investor Relations Contact: Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. [Continue Reading]. Regions Investment Solutions is a marketing name of Cetera Investment Services. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. 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. Services, Sponsorship for Priority Telecommunication Services, Supervision & Oversight of Financial Market At a minimum, it will help you focus on competitive offerings and provide better insight into the market in your geographic area. Live market coverage co-anchored from Hong Kong and New York. Do not delete! Earlier on Friday, Regions reported $649 million in noninterest income for the third quarter, down almost 1% from the same period last year but up nearly 5% from the previous three months. 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. 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. Regions Bank Markets never sleep, and neither does Bloomberg. Firms with assets over $500 billion at most jeopardy, We are in a period of transition to a new standard: Seiberg. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. To begin this process, management should help map out a strategy, so the board can review it. In connection with this application, BAWAG Group Boston has seen a concentration of merger-related activity this year, with four deals announced in as many months. Acquisition further enhances Regions specialty capabilities for business clients. That may soon change, starting potentially with Eastern Banks $642 million acquisition of rival Century Bank announced late Wednesday. 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. 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. Jan 24, 2023, 12:07 pm EST. 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. 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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. Theme Banking. 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. Significantly, average deal value fell nearly in half from $716 million in 2021 to $348 million in 2022, a 51.4% decrease. Firms with assets over $500 billion at most jeopardy. Regional bank deals hit a 20-year high in 2019. Business sectors served by Clearsight include the technology, professional services, data and information services, and digital and technology-enabled services industries. For more information about Clearsight, visit www.clearsightadvisors.com. 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, which had $4.4 billion in assets in 1987, grew to $32.8 billion in assets and 667 locations by the end of 1998. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. In October, the Birmingham, Alabama, bank announced a deal to acquire commercial real estate lender Sabal Capital Partners. 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. Performance & security by Cloudflare. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. This press release features multimedia. Based in McLean, Virginia, Clearsight Advisors follows a research-driven, thematic approach toward building relationships across the sectors served by the company. All Rights Reserved. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. 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. 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. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. Total revenue of $2.6 billion was down almost 2% from the third quarter of 2020. 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. Capital City Bank Group, Inc., Tallahassee, Florida; through its subsidiary bank, Capital City Bank, Tallahassee, Florida, to indirectly acquire an equity interest in SOLCAP 2022-1 LLC, Las Vegas, Nevada, and thereby engage in extending credit and servicing loans and more. Through this page you can find experienced We are thrilled to be joining forces with Regions Bank to expand services and capital raising options for our clients, said Clearsight Co-Founder and CEO Joel Kallett. Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. 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. Regions Bank Download Regions 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. Where does the bank and the Fed go from here? Your bank may not be thinking merger and acquisitions, but it could be in your near future. The combination of our two companies will create a new regional force in the banking and financial services industry and further our respective Morgan Keegan, as well as the combined mortgage business, will be headquartered in Memphis. Regions did not return calls seeking comment. Over 85,000 subscribers who receive our newsletter every day three sectors of banking and capital (... This enables Clearsight to deliver a deep understanding of market trends and compelling business.! Third quarter of 2020 thinking merger and acquisitions, but the bank has had very loan! 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