Banking 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. Though the year ahead wont be without headwinds, there are many reasons to engage in dealmaking in 2022. View source version on businesswire.com: https://www.businesswire.com/news/home/20220104005197/en/, Media Contact: The action you just performed triggered the security solution. WebBanks with Successful M&A Plans Need a Partner to Grow With With the current bank merger activity, many banks and credit unions are looking to grow through acquisition Dana Nolan What Could Elon Musk Possibly Be Thinking? 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. 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. Regions Bank is an Equal Housing Lender and Member FDIC. Northern Trust Corp. rose $1.375 to $55.125, after Goldman Sachs reiterated its "buy" rating on the stock Monday. The LifeGreen color is a trademark of Regions Bank. New York, New York 10019-6150 . To stay logged in, change your functional cookie settings. 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. 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. Advisory Services are offered through Cetera Investment Advisers LLC. Please search by entering criteria below. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. It could be worthwhile to have a plan just in case. "There is greater recognition of management discipline and that the stock, even at these levels, is fairly inexpensive," she said. Media Contact: An acquisition of Memphis-based Union Planters in 2004 was followed by a merger with cross-town rival AmSouth in 2006. [Continue Reading]. Smith, Gambrell & Russell to have 400 attorneys after merger. Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Commercial Litigation, Derivatives and Futures Law, Litigation - Antitrust, Litigation - Banking and Finance, Litigation - Bankruptcy, Litigation - Mergers and Acquisitions Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Regulatory Enforcement (SEC, Telecom, Energy), Litigation - Securities, Litigation - Mergers and Acquisitions, Litigation - Securities, Litigation - Securities, Litigation - Mergers and Acquisitions. 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. In addition, Clearsight delivers financial advisory and consulting services for companies and entrepreneurs as they accelerate their business strategies. Even so, more can be done. Do not delete! As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. Most megadeals closed in 2022 had been announced in 2021 but underwent regulatory scrutiny that in some cases stretched more than 14 months. 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. In October, the Birmingham, Alabama, bank announced a deal to acquire commercial real estate lender Sabal Capital Partners. Over the last decade, Clearsight has grown to be an M&A advisory leader in the burgeoning knowledge economy. In connection with this application, BAWAG Group PCBB makes no representations or warranties as to the timeliness, accurateness, or completeness of any data or information relating to Bank Mergers and Acquisition matrix. The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. The site that you are entering is operated or controlled by a third party that is unaffiliated with Regions. Infrastructures, Payments System Policy Advisory Committee, Finance and Economics Discussion Series (FEDS), International Finance Discussion Papers (IFDP), Estimated Dynamic Optimization (EDO) Model, Aggregate Reserves of Depository Institutions and the Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. Banks, New Security Issues, State and Local Governments, Senior Credit Officer Opinion Survey on Dealer Financing Houlihan Lokey represented Regions in connection with the Clearsight Advisors transaction, and Moore & Van Allen PLLC served as Regions legal counsel. 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. 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. WebFind Litigation - Mergers and Acquisitions Lawyers in Brea, CA Welcome to the U.S. News Lawyer Directory powered by Best Lawyers . All Rights Reserved. Your bank may not be thinking merger and acquisitions, but it could be in your near future. 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. 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. "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. Additional information about Regions and its full line of products and services can be found at www.regions.com. The public portions of the applications and notices, as well as other related filings required by the Board, may be obtained on an expedited basis by contacting the appropriate Federal Reserve Bank; addresses are listed at the end of this release. Examples include businesses providing software and cloud services, digital transformation services, technology-oriented management consulting, high-end information technology services, data services, and more. In other market news Tuesday, shares of NationsBank Corp. and BankAmerica Corp. continued their steady rise. Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. The OCC also reviewed the Merger under the criteria of the Bank Merger Act (BMA), 12 USC 1828(c), and 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. To do this, the board needs an awareness of where the institution fits into the marketplace and who some likely targets or buyers might be. Certain services may not be available to attest clients under the rules and regulations of public accounting. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. "Athlete | Empire" presents the in-depth, intimate stories of these businesses, as told by the players themselves. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. Dec 09, 2022. Markets never sleep, and neither does Bloomberg. Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates. 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. 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. Regions acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. 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. 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. In fact, a record low number of transactions, and 2021 has seen a massive spike in transactions. Our strategic plan at Regions includes identifying areas where we can expand specialty capabilities to offer more solutions to clients while growing our customer base, said David Turner, chief financial officer for Regions Financial Corp. Regions agreement to acquire Clearsight Advisors, as well as our acquisitions of Sabal Capital Partners, home improvement lender EnerBank, Ascentium Capital, and others, reflect this strategy in action. U.S. Bancorps acquisition of MUFG Union Bank, N.A. At a minimum, it will help you focus on competitive offerings and provide better insight into the market in your geographic area. 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. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Theme Banking. To be prepared, thats not a time to start from scratch, so you might want to at least sketch out a mergers and acquisitions strategy at some point. Addresses for the Board and the Federal Reserve Banks are listed at the end of this release. Corporate Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Tax Law, Commercial Litigation, Corporate Law, Litigation - Labor and Employment, Litigation - Mergers and Acquisitions, Litigation - Intellectual Property, Litigation - Mergers and Acquisitions, Litigation - Real Estate, Litigation - Securities, Mass Tort Litigation / Class Actions - Defendants, Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Securities, Securities / Capital Markets Law, Commercial Litigation, Litigation - Mergers and Acquisitions, Privacy and Data Security Law, Commercial Litigation, Litigation - Mergers and Acquisitions, Litigation - Securities, Business Organizations (Including LLCs and Partnerships), Commercial Litigation, Litigation - Mergers and Acquisitions, Bet-the-Company Litigation, Closely Held Companies and Family Businesses Law, Fraud and Abuse, Commercial Litigation, Corporate Governance Law, Corporate Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Bet-the-Company Litigation, Commercial Litigation, Litigation - Mergers and Acquisitions, Corporate Law, Leveraged Buyouts and Private Equity Law, Litigation - Mergers and Acquisitions, Mergers and Acquisitions Law, Litigation - Antitrust, Litigation - Mergers and Acquisitions, Litigation - Securities. However, these risks and uncertainties are not exhaustive. 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. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. What to include in your planning? Advisory Services are offered through Cetera Investment Advisers LLC. 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.. 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. 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. This message will not be visible when page is activated. For more information about Clearsight, visit www.clearsightadvisors.com. 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. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. The merger of Columbia and Umpqua has created a $52 billion-asset bank rooted in the Pacific Northwest. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. Significantly, average deal value fell nearly in half from $716 million in 2021 to $348 million in 2022, a 51.4% decrease. 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. Wachtell, Lipton, Rosen & Katz . Terms of the acquisition were not disclosed. 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. 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. Read the full review of 2022 across banking, fintech, and investment management (IM) and wealth management (WM) by downloading the 2023 banking and capital markets M&A outlook. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions recent acquisition of Sabal Capital Partners, LLC. 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. 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