In recent months, the regional banking space has already experienced lots of change after several high-profile acquisitions. But there could still be lots more mergers and acquisitions (M&A) activity on the way, especially as the banking environment becomes more competitive and credit quality and earnings begin to stabilize. 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. 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. 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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 Press Releases 2022. In addition, Clearsight delivers financial advisory and consulting services for companies and entrepreneurs as they accelerate their business strategies. Jan 04, 2022. 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. There may be one other explanation for Tuesday's rise in Regions' share price, however. 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. All Rights Reserved. Excluding 2020, bankingM&A volume in 2022 slumped to its lowest level in six years. Athletes' ambitions don't end when they leave the field of play. The bank announced a $3 billion share repurchase program Monday, which exceeded analysts expectations. Regions reported quarterly net income available to shareholders of $624 million, up 24% from a year earlier. Other sections of such filings describe additional factors that could impact Regions Financials business, financial performance, and pending or consummated acquisition transactions, including the Clearsight transaction. Several clients have reached out to congratulate us and have already started inquiring about additional solutions available through Regions Capital Markets. Regions, the Regions logo and the LifeGreen bike are registered trademarks of Regions Bank. Regions provides links to other websites merely and strictly for your convenience. The most common acquirer mentioned amid the current speculation is Wachovia Corp., which has long been rumored to be eyeing the $14 billion- asset company. 205-264-4551, Investor Relations Contact: 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. 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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. Terms of the acquisition were not disclosed. Do not delete! 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. The next-largest deal, Provident Financial Services, Inc.s purchase of Lakeland Bancorp, Inc., was for $1.3 billion. The operations of Regions and SunTrust overlap significantly in Tennessee and Florida. Neither Cetera Investment Services, nor Cetera Investment Advisers is an affiliate of Regions Bank. This, along with our commitment to world-class service and attention to detail, will help us deepen relationships and build new relationships in this space.. The LifeGreen color is a trademark of Regions Bank. BancPacific Financial Holding Corporation, Hagatna, Guam, and Our Lady of Peace Memorial Plan, Inc-Trust Fund, Barrigada, Guam; to become bank holding companies by acquiring BankPacific, Ltd., Hagatna, Guam, upon the conversion of BankPacific, Ltd. from a savings association to a commercial bank. However, these risks and uncertainties are not exhaustive. From August 2018 through July 2021, Regions charged customers surprise overdraft fees on certain ATM withdrawals and debit card purchases. Explore Deloitte University like never before through a cinematic movie trailer and films of popular locations throughout Deloitte University. United States, Structure and Share Data for U.S. Offices of Foreign Banks, Financial Accounts of the United States - Z.1, Household Debt Service and Financial Obligations Ratios, Survey of Household Economics and Decisionmaking, Industrial Production and Capacity Utilization - G.17, Factors Affecting Reserve Balances - H.4.1, Federal Reserve Community Development Resources. 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. But First Bank ran into Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. With two notable exceptions, the largest bank M&A transactions also shrank in value considerably. 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. In other market news Tuesday, shares of NationsBank Corp. and BankAmerica Corp. continued their steady rise. 2023 banking and capital markets M&A outlook, +++ DO NOT USE THIS FRAGMENT WITHOUT EXPLICIT APPROVAL FROM THE CREATIVE STUDIO DEVELOPMENT TEAM +++, Telecommunications, Media & Entertainment, M&A Hot Takes series: M&A insights, strategies, and trends. WebJanuary 18, 2022 . Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. 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. 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. Regional bank deals hit a 20-year high in 2019. Acquisition further enhances Regions specialty capabilities for business clients. Where does the bank and the Fed go from here? It could be worthwhile to have a plan just in case. Dana Nolan In addition to complementing and enhancing the advisory services delivered by Regions Capital Markets, Clearsight is a tremendous cultural fit for Regions. To stay logged in, change your functional cookie settings. Branches and Agencies of Terms were not disclosed. 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. to acquire voting shares of Converse County Capital Corporation, and thereby indirectly acquire voting shares of The Converse County Bank, both of Douglas, Wyoming. Regions Financial Corp. announced an agreement to acquire Clearsight Advisors, Inc., a leading-edge mergers and acquisitions firm. BankAmerica shares continued a torrid pace, rising $2 to $77.50, the third straight increase of more than $1 per share for the San Francisco- based bank. Is an affiliate of Regions and SunTrust overlap significantly in Tennessee and Florida will be headquartered Memphis! 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