Dec 09, 2022. Your bank may not be thinking merger and acquisitions, but it could be in your near future. Cloudflare Ray ID: 7a15875f2e0549ea As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. 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. 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 News on Twitter: @RegionsNews. Regions will maintain Clearsights headquarters office in McLean, as well as business offices in New York City and Dallas, Texas. Since mid- February, the bank's price has soared 15%. In other market news Tuesday, shares of NationsBank Corp. and BankAmerica Corp. continued their steady rise. Significantly, average deal value fell nearly in half from $716 million in 2021 to $348 million in 2022, a 51.4% decrease. Regions did not return calls seeking comment. (Podcast). 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. As M&A activity continues into the future, mapping things out occasionally can make sense. Market pressures and a regulatory rollback have triggered a wave of regional bank M&A that appears likely to continue in the year ahead. Based in McLean, Virginia, Clearsight Advisors follows a research-driven, thematic approach toward building relationships across the sectors served by the company. Review of Monetary Policy Strategy, Tools, and 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. The privacy policies and security at the linked website may differ from Regions privacy and security policies and procedures. articles a month for anyone to read, even non-subscribers! Where are bank mergers 2022 rumors now Mortgage branches that the report was & quot ;.. Regions Investment Solutions is a marketing name of Cetera Investment Services. We have found the ideal partner in Regions Bank to help us enhance our client solutions while also building on the culture and team dynamic that have been a hallmark of Clearsight since its founding.. In addition to complementing and enhancing the advisory services delivered by Regions Capital Markets, Clearsight is a tremendous cultural fit for Regions. Dealmaking has slowed this year amid the highest inflation in 40 years, soaring interest rates and a struggling stock market. BIRMINGHAM, Ala. -- (BUSINESS WIRE)-- Regions Financial Corp. Regional bank deals hit a 20-year high in 2019. To ensure the most secure and best overall experience on our website, we recommend the latest versions of, the recent completion of Regions acquisition. Further, the acquisition is the latest example of Regions building additional revenue diversification by delivering more high-value, fee-based financial services and originations. Northern Trust Corp. rose $1.375 to $55.125, after Goldman Sachs reiterated its "buy" rating on the stock Monday. Regions Bank You should not place undue reliance on any forward-looking statements, which speak only as of the date made. 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.. Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. 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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. This enables Clearsight to deliver a deep understanding of market trends and compelling business strategies. 51 West 52nd Street . 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. Exceptional organizations are led by a purpose. We do like diversification of our revenue stream, Turner said. The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. An acquisition of Memphis-based Union Planters in 2004 was followed by a merger with cross-town rival AmSouth in 2006. However, these risks and uncertainties are not exhaustive. Webmarket capitalization of $14 billion, and its banking operations will be headquartered in Birmingham. Regions Bank Launches Multi-Assets Solutions Group, Combining Investment Research Strengths of Regions and Highland Associates. Regions Bank Factors that could cause Regions Financials actual results to differ from those described in the forward-looking statements herein include: 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. Regions Investment Solutions, 250 Riverchase Parkway East, Hoover, AL 35244. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time. WebOn September 28, 2022, the CFPB again ordered Regions Bank to pay $50 million into the CFPBs victims relief fund and to refund at least $141 million to customers harmed by its illegal surprise overdraft fees. Regions Financial plans to incorporate Clearsight into Regions Banks growing Capital Markets division. Firms with assets over $500 billion at most jeopardy, We are in a period of transition to a new standard: Seiberg. The Treasury will join with a group of Federal Reserve and other agencies to develop standards that they hope will shape both foreign CBDCs and a U.S. government digital dollar, should Congress authorize one. 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. 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. 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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. Clearsight combines deep market insights across software, services and data. Applications and notices also may be obtained from the Board. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. 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. Fullwidth SCC. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. One of the challenges for executives this year will be to manage the current economic slowdown while positioning their businesses to thrivein the future. 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 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. And films of popular locations throughout Deloitte University like never before through a cinematic movie trailer and of! Jeopardy, we are in a period of transition to a New standard Seiberg... Services delivered by Regions Capital Markets, Clearsight is a marketing name of Cetera Investment services deposit shrink! Month for anyone to read, even non-subscribers initiate bold, proactive moves growth over the last years. 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