This box/component contains JavaScript that is needed on this page. Investments, Annuities, and Insurance Products, 2021 Supplemental Proxy Materials (March 31, 2021), Regions Financial to Announce Fourth Quarter and Full-Year 2022 Financial Results on Jan. 20, 2023 - PDF, opens in a new window, Regions Bank Increases its Prime Lending Rate - PDF, opens in a new window, Regions Bank Announces Creation of Franchise Lending Team - PDF, opens in a new window, Simpler Payments. Arbitragers who have short position in Regions in hopes of locking in a profit on its purchase of Gainesville, Ga.-based First National Bancorp may be covering their short positions as the closing date of the deal approaches, said Darren Short, a bank analyst with Robinson- Humphrey Co. At Feb. 15, 869,713 shares of Regions were sold short. The database contains 94 records that match your search criteria. Cambray Mutual Holding Company and Gouverneur Bancorp, Inc. both of Gouverneur, New York; to become a mutual savings and loan company and stock subsidiary holding company of a mutual holding company, respectively, pursuant to section 10(e) of the Home Owners Loan Act, and more. 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. CEO Clint Stein said the company has room to expand in California, Arizona, Colorado and Utah. The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions recent acquisition of Sabal Capital Partners, LLC. Regions reports third quarter 2022 earnings of $404 million, earnings per diluted share of $0.43 Download Strong Revenue. Disciplined Expense Management. Regions reports third quarter 2022 earnings of $404 million, earnings per diluted share of $0.43 - PDF, opens in a new window Rebuilding. Recovering. Together. 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. BIRMINGHAM, Ala.--(BUSINESS WIRE)-- Additional information about Regions and its full line of products and services can be found at www.regions.com. Youre about to leave Regions to use an external site. 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. 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. 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We've encountered an error while sending your message. Through this page you can find 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. (Photo: Business Wire). ), the Change in Bank Control Act (12 U.S.C. The LifeGreen color is a trademark of Regions Bank. 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. Our US bank mergers and acquisitions table below allows you to scroll, sort, print and export the relevant merger activity. As the phony-accounts scandal is brewing in 2014, the executive who functions as the top cop inside Wells Fargo gets shown the door. Boston has seen a concentration of merger-related activity this year, with four deals announced in as many months. Monetary Base - H.3, Assets and Liabilities of Commercial Banks in the U.S. - It could be worthwhile to have a plan just in case. SBA 7A Lenders . Regional bank deals hit a 20-year high in 2019. Regions Financial Corp. stock surged in heavy volume Tuesday, as rumors continue to surface that the Birmingham, Ala.-based bank is seeking a buyer. Regions acquisition of Clearsight is expected to close by the end of 2021 subject to satisfaction of customary closing conditions. 1817 (j)), the Home Owners' Loan Act (12 U.S.C.1467a), Regulations Y, LL, MM, or other applicable statutes and regulations. See how we connect, collaborate, and drive impact across various locations. What Could Elon Musk Possibly Be Thinking? NationsBank rose $2.375 to $78.50, after increasing 87.5 cents Monday. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. On the Go. With two notable exceptions, the largest bank M&A transactions also shrank in value considerably. Clearsight combines deep market insights across software, services and data. Overnight on Wall Street is daytime in Asia. 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. Some banks are bought and sold because something unexpected popped up. Regions Financial plans to incorporate Clearsight into Regions Banks growing Capital Markets division. Further, the acquisition is the latest example of Regions building additional revenue diversification by delivering more high-value, fee-based financial services and originations. 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. 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. The combination of our two companies will create a new regional force in the banking and financial services industry and further our respective 205-264-4551, Investor Relations Contact: Wells Fargo's asset cap has been in place for fi ve years, and there's no end in sight. Communications, Banking Applications & Legal Developments, Financial Stability Coordination & Actions, Financial Market Utilities & Infrastructures. 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. If the Regions did sell, the price probably would be in the $53 to $56 per share range, Mr. Coffey said. 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. 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. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. 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. 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. 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. Do not delete! You can email the site owner to let them know you were blocked. As a result, the year ahead likely will present stellar opportunities for traditional banks and payment processors unafraid to make bold, proactivealbeit well-consideredmoves. 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. As companies downsize and restructure, American Banker is tracking these decisions to help our readers understand how their industries are adapting. Regions News on Twitter: @RegionsNews, Back to To begin this process, management should help map out a strategy, so the board can review it. Average daily volume is less than one-sixth that level. Regions will maintain Clearsights headquarters office in McLean, Virginia, as well as business offices in New York City and Dallas, Texas. Richard K. Kim, Partner . Large banks have eyed Regions primary market in the Southeast, but Regions has no intention to sell, either, according to Turner. from Mitsubishi UFG Financial Group for nearly $8 billion, announced in September 2021, closed in December 2022. Economic conditions for U.S. banks havent improved as much as investors and analysts had hoped. Acquisition further enhances Regions specialty capabilities for business clients. Sabal Capital Partners is also being incorporated into Regions Capital Markets division. Acquisition further enhances Regions specialty capabilities for business clients. Your bank may not be thinking merger and acquisitions, but it could be in your near future. Dec 09, 2022. Regions provides links to other websites merely and strictly for your convenience. Infrastructures, International Standards for Financial Market 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. 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. 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.. Smith, Gambrell & Russell to have 400 attorneys after merger. Checks), Regulation II (Debit Card Interchange Fees and Routing), Regulation HH (Financial Market Utilities), Federal Reserve's Key Policies for the Provision of Financial Jeremy D. King 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. 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. 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. We are in a period of The most successful companies will likely be thoughtful buyers and sellers prepared to initiate bold, proactive moves. 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