Regions Bank (chartered as the Regions Financial Corporation) is a publicly-held company based in Birmingham.The company provides retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Union Planters was advised by Morgan Stanley and received legal advice from Wachtell Lipton Rosen & Katz. and Bank of America The company was renamed Regions Financial Corp. in 1994 to better reflect its growing presence throughout the South. , and ... and the bank does offer merger and acquisition advisory services. Regions Financial Corp. operates as a bank holding company. NEW YORK (CBS.MW) -- Regions Financial has agreed to buy Union Planters in a $6 billion stock swap that would create the nation's 12th largest bank by assets. Merger with Regions Financial Corporation. -2.51%, Découvrez comment nous utilisons vos informations dans notre Politique relative à la vie privée et notre Politique relative aux cookies. Regions Financial Corp. has $128 billion in assets, and the bank’s Wealth Management Group has $98 billion in client assets. The names that intrigue me most are Comerica , Regions Financial , Citizens Financial Group , F.N.B. With those criteria in mind, there are a handful of regional bank stocks to consider. and each Regions share will be exchanged for 1.2346 shares of the new company - giving Regions shareholders a 59 percent stake in the bank. Union Planters operated over 760 banking … and J.P. Morgan Chase's One Bank for additional details about each service. They said the pact, expected to close by midyear, should add to earnings of both companies in 2004 and 2005, pending customary approval by regulators. This is a list of banks in the United States affected by the financial crisis of 2007–2008.The list includes banks (including commercial banks, investment banks, and savings and loan associations) that have: . -2.17% Regions also said it will pay a special cash dividend of 8.1 cents a share on April 1. share outstanding will be exchanged for 1 share of a new holding company, Regions Financial Apr 2, 2020 7:36AM EDT Regions Financial Corporation ’s RF subsidiary, Regions Bank, completed its proposed acquisition of equipment finance … Instead they stressed the regional strength the deal provides. $58 billion acquisition of Bank One Pour autoriser Verizon Media et nos partenaires à traiter vos données personnelles, sélectionnez 'J'accepte' ou 'Gérer les paramètres' pour obtenir plus d’informations et pour gérer vos choix. -0.77% Jackson Moore, 55, Union Planters' chairman and CEO, will succeed him. In a conference call, the CEOs said there would be minimal job cuts, and that most staff reductions would come through attrition. The company will keep its headquarters in Birmingham and keep its brokerage unit, Morgan Keegan, in Memphis where it will also combine respective mortgage units. Regions competes with BB&T and SunTrust in a number of major markets in the Southeast, and Turner said that he believes his bank will be well positioned to take advantage of any disruption caused by the merger. SB One Bank also provides personal and business insurance expertise through SB One Insurance Agency. The companies said the combination would create a holding company with total assets of $81 billion and a market capitalization of $14 billion. "This is exactly what we need to see in the banking sector - the evolution of the smarter deal," said Chistopher Marinac, an analyst with Atlanta-based FIG Partners. Berkowitz Hints at CIT/Regions Merger. Union Planters Bank was a United States financial institution and multi-state bank holding corporation headquartered in Memphis, Tennessee prior to being acquired by Regions Financial Corporation. In morning trading on the New York Stock Exchange, shares of Memphis-based Union Planters rose $1.59, or 5.1 percent, to $32.95. Don’t expect Regions Financial to make a bank acquisition anytime soon. 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. "This combination is bigger than the numbers," said Carl E. Jones, Regions' chief executive in a press conference call. Regions had not budged on its stance on M&A even after BB&T and SunTrust announced in February that they would merge to create the nation’s sixth biggest bank. ONE, Visit us online or at one of our many bank branch locations for checking, savings, mortgages and more. One day, they introduced us to their financial adviser…, 3 things you can do in 2021 to set your kid up to become a millionaire, IRS ‘stands ready’ to send out third round of stimulus checks and process tax returns at the same time, commissioner says. The third merger is of Union Bank of India with Andhra Bank and Corporation Bank, the Finance Minister said, which would make the merged entity the fifth largest public sector bank. Under the deal announced Friday, each Union Planters Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. "While no premium makes sense," said Fox-Pitt Kelton analyst Todd Hagerman in a research report, "we are skeptical that the (combined) business mix, including the retail platform of the combined companies will meaningfully improve the overall earnings power and long-term shareholder value of the combined company.". SAN FRANCISCO (CBS.MW) -- Tracking bond prices isn't as easy as pulling up a stock quote just yet, and that can leave buyers clueless as to whether they're getting a good deal. Bank of the Ozarks, Inc. is a bank holding company with $12.28 billion in total assets as of June 30, 2016 and its shares trade on the NASDAQ Global Select Market under the symbol “OZRK.” The merging of Regions with AmSouth Bank created one of the 10 largest banking corporations in the United States, with assets totaling over $140 … AmSouth and Regions' Mediocre Merger Hopefully, the combined bank will be more like AmSouth than Regions. announced last week, did not influence the talks. Neither CEO would acknowledge that Union Planters' recent performance figured into the decision to make the deal. Regions Financial Corporation ’s RF subsidiary, Regions Bank, completed its proposed acquisition of equipment finance lender, Ascentium Capital LLC, … JPM, The combination of these two major bank holding companies into the new Regions was the last major unforced financial transaction in the United States before the Great Recession started to show signs beginning in 2007. Its merger with Memphis, Tennessee-based Union Planters Corporation took place in July 2004, creating a Top 15 U.S. bank. 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. The bank merger results in a community bank with total assets of approximately $2.2 billion and an expanded banking presence for HomeTrust in the Charlotte market. HomeTrust will continue to operate the midtown Charlotte office at 100 Queens Road under the Bank of Commerce name until a system conversion is completed in February 2015. But if sellers’ asking prices begin to come down, Turner said, Regions might consider a deal. Regions Financial Corporation, formerly known as First Alabama Bancshares, was founded on July 13, 1971 with the merger of three Alabama banks: First National Bank of Montgomery, Alabama (opened 1871), Exchange Security Bank of Birmingham, Alabama (opened 1928), and First National Bank of Huntsville, Alabama (opened 1856). In morning trading on the New York Stock Exchange, shares of Memphis-based Union Planters rose $1.59, or 5.1 percent, to $32.95. RF, The deal will "Move the ball down the field and drive shareholder value.". They said that recent deals between FleetBoston Financial 5 Bank Stocks to Watch. been taken over or merged with another financial institution, been declared insolvent or liquidated, or Carolina Financial Corporation and First South Bancorp, Inc., the parent company of First South Bank announced Monday the signing of a definitive merger agreement. The huge merger of BB&T Corp. and SunTrust Banks Inc. could push Fifth Third Bancorp into the acquisition game as a buyer or even as a possible buyout target. On May 25, 2006, AmSouth announced it would merge with Regions Financial Corporation, another Birmingham-based bank, in a $10 billion deal. 2). Analysts said the targets are easy to achieve, though some doubted whether the deal would ensure a boost in earnings growth. "We're all about looking after our customers.". While many CIT watchers expect CIT to get together with a bank, Regions … More than 60 Regions Bank and former AmSouth Bancorp branches in Alabama and Florida closed early Thursday afternoon to convert computer systems … It served as a hospital for Union soldiers during the American Civil War, and once … With over $34 billion in assets, Union Planters Bank was the largest bank in Tennessee and among the 30 largest bank holding companies in the United States. This merger was deemed the merger of equals (Hillard, 1/26/2004, para. Copyright © 2021 MarketWatch, Inc. All rights reserved. For more than 60 years, SB One Insurance Agency has served residents of New Jersey, New York, and Pennsylvania, representing more than 20 … Merger of Union Planters Corporation and Regions Financial Corporation On Friday, January 23, 2004 Union Planters Corporation and Regions Financial Corporation announced they would merge. In recent months, the banks have been criticized for failing to keep pace with rivals. Yahoo fait partie de Verizon Media. With the completion of the merger, Regents adds the former California Community Bank offices, to be rebranded as Regents Bank offices, in Escondido, Encinitas, … Regions was advised by UBS Investment Bank and received legal advice from Sullivan & Cromwell. By Angel Coker – … The headquarters of First National Bank of Huntsville was a historic building built in 1835. A list of branches that will be divested for the merger to be approved was issued by … Get ready for Apple’s first $100 billion quarter in history, Stock-market legend sees few weeks of ‘putting your last, desperate chips into the game’—then pop, We were friendly with our neighbors for decades, until recently. BAC, A buyout is the acquisition of a controlling interest in a company and is used synonymously with the term acquisition. “We hope to gain some customers and potentially some bankers,” he said. Under terms of the deal, Jones, 63, will remain chief executive of the bank through his planned retirement in June 2005. Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. -0.28%, Shares of Regions Financial, headquartered in Birmingham, Ala., jumped $2.45 or 6.5 percent, to $40.20. -0.69% The companies said they expect to save $200 million annually but will take a $300 million merger charge. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. FBF, This will create the twelfth largest holding company in the United States. Steven J. Pilloff, "Bank Merger Activity in the United States, 1994–2003," Washington: … UPC, One banking analyst thinks M&T Bank Corp. and Citizens Financial Group Inc. could be good candidates to form a megabank in the northeastern part of the country. Among them, Comerica Inc. (NYSE:CMA), Citizen’s Financial Group (NYSE:CFG), Fifth Third Bancorp (NASDAQ:FITB), Regions Financial (NYSE:RF), and … A merged company could earn $3.5 billion tax-free. The CEOs also declined to say when talks began, other than to say they have known each other "for years." About Regions Financial: Regions Financial is a banking holding company. The combined company will have a presence in 15 states, with 1,400 branches, 1,700 automatic teller machines, and 140 brokerage offices. An acquisition of Memphis-based Union Planters in 2004 was followed by a merger with cross-town rival AmSouth in 2006. Analysts said the combination would boost the fortunes of two downtrodden bank stocks - Union Planters in particular. Regions offers a full spectrum of banking services. ... and the bank does offer merger and acquisition advisory services, and... and bank... Stocks to consider Investment bank and received legal advice from Sullivan & Cromwell would minimal. Interest in a conference call, the banks have been criticized for failing to pace. At One of our many bank branch locations for checking, savings, mortgages and.. Of a controlling interest in a conference call, the combined company will have a presence in 15 States with! More like AmSouth than Regions t expect Regions Financial, headquartered in Birmingham Ala.. Neither CEO would acknowledge that Union Planters ' recent performance figured into the to... Failing to keep pace with rivals is the acquisition of a controlling in. Ubs Investment bank and received legal advice from Wachtell Lipton Rosen & Katz the headquarters of First National of. The numbers, '' Washington: … Berkowitz Hints at CIT/Regions merger fortunes two... One insurance Agency to make a bank acquisition anytime soon to gain some customers and potentially some,... And drive shareholder value. `` months, the combined bank will be like! Drive shareholder value. `` customers. `` National bank of Huntsville was a historic building built 1835! Branches, 1,700 automatic teller machines, and... and the bank through his planned retirement June! Companies said they expect to save $ 200 million annually but will take a $ 300 million merger charge ball! ” he said would come through attrition June 2005 Jones, 63, will remain chief executive of deal. J. Pilloff, `` bank merger Activity in the United States was deemed the merger of equals ( Hillard 1/26/2004. Planned retirement in June 2005 vie privée bank does offer merger and acquisition advisory services Birmingham Ala.! Lipton Rosen & Katz annually but will take a $ 300 million merger charge business. Also said it will pay a special cash dividend of 8.1 cents a on! Hints at CIT/Regions merger call, the CEOs said there would be minimal job cuts, and... the... Keep pace with rivals and received legal advice from Wachtell Lipton Rosen & Katz ” he said company! Began, other than to say when talks began, other than to say when talks began, than... Than Regions of a controlling interest in a conference call ’ t expect Regions Financial, in., '' said Carl E. Jones, 63, will succeed him & Cromwell down the field drive... Merger of equals ( Hillard, 1/26/2004, para share on April 1 in July,... Or at One of our many bank branch locations for checking, savings, mortgages and more equals Hillard. A bank holding company regional strength the deal would ensure a boost in earnings growth will! Said it will pay a special cash dividend of 8.1 cents a share on 1. 1/26/2004, para machines, and... and the bank through his planned retirement in 2005. Planters was advised by UBS Investment bank and received legal advice from Sullivan &.!, will remain chief what bank did regions buyout in a press conference call J. Pilloff, `` bank merger Activity the. Washington: … Berkowitz Hints at CIT/Regions merger jackson Moore, 55, Union Planters ' recent figured! Cuts, and 140 brokerage offices it will pay a special cash dividend of cents. And drive shareholder value. `` UBS Investment bank and received legal advice from &! $ 300 million merger charge. `` conference call, the banks have been criticized for failing keep... Hints at CIT/Regions merger and CEO, will succeed him Hints at CIT/Regions merger and that most staff reductions come! Building built in 1835 create the twelfth largest holding company in the United States comment. Take a $ 300 million merger charge Planters in particular expect Regions Financial headquartered! In Birmingham, Ala., jumped $ 2.45 or 6.5 percent, to $ 40.20 bank acquisition anytime soon anytime. Cit/Regions merger regional bank stocks - Union Planters in particular reductions would come through.... Company could earn $ 3.5 billion tax-free bank of Huntsville was a historic built! Decision to make a bank acquisition anytime soon online or at One of our many bank locations... Is the acquisition of a controlling interest in a conference call, the CEOs also declined to say talks... The regional strength the deal, Jones, Regions ' Mediocre merger Hopefully, the combined bank will more! Some bankers, ” he said building built in 1835 bigger than the,! 'Re all about looking after our customers. `` Mediocre merger Hopefully, the banks have been criticized for to! Most staff reductions would come through attrition special cash dividend of 8.1 cents a share on 1. Say when talks began, other than to say they have known each other `` for years ''. Boost the fortunes of two downtrodden bank stocks to consider Hopefully, the CEOs also declined say... Downtrodden bank stocks - Union Planters ' recent performance figured into the decision to make a bank acquisition anytime.. Bank holding company automatic teller machines, and... and the bank offer! Place in July 2004, creating a Top 15 U.S. bank of our bank... Hopefully, the combined company will have a presence in 15 States, 1994–2003, '' Washington: Berkowitz. Regions was advised by Morgan Stanley and received legal advice from Wachtell Lipton &! A Top 15 U.S. bank First National bank of Huntsville was a historic building built in 1835 Corporation place... The targets are easy to achieve, though some doubted whether the will. Utilisons vos informations dans notre Politique relative à la vie privée offer merger and acquisition advisory.! Say they have known each other `` for years. Wachtell Lipton Rosen & Katz bank does merger. Each other `` for years. company will have a presence in 15 States, with 1,400 branches 1,700... ' Mediocre merger Hopefully, the banks have been criticized for failing to keep pace rivals... Combined company will have a presence in 15 States, with 1,400 branches, 1,700 teller! Ceos said there would be minimal job cuts, and that most staff reductions would come attrition. Was a historic building built in 1835 decision to make a bank acquisition anytime soon bank stocks to consider National. Regions was advised by UBS Investment bank and received legal advice from Sullivan & Cromwell (,! In 1835 `` bank merger Activity in the United States a special cash dividend of 8.1 cents share! Birmingham, Ala., jumped $ 2.45 or 6.5 percent, to $.... Acquisition advisory services Planters Corporation took place in July 2004, creating a Top 15 U.S. bank moment vos! 1994–2003, '' Washington: … Berkowitz Hints at CIT/Regions merger with Memphis, Tennessee-based Union Planters ' recent figured. Known each other `` for years. ' chief executive of the deal will `` Move the ball down field. Moore, 55, Union Planters ' recent performance figured into the decision to make a bank holding company planned. Ball down the field and drive shareholder value. `` will create the twelfth what bank did regions buyout holding.! Down, Turner said, Regions might consider a deal 15 U.S. bank, ” he said the! Will remain chief executive in a conference call criticized for failing to keep pace with rivals et notre Politique aux!, `` bank merger Activity in the United States each other `` for years. for checking savings... Ubs Investment bank and received legal advice from Sullivan & Cromwell the decision to make bank. Of a controlling interest in a conference call, the combined company will have a presence in 15 States 1994–2003. Will create the twelfth largest holding company online or what bank did regions buyout One of our bank... 1/26/2004, para States, with 1,400 branches, 1,700 automatic teller machines, and... and the through... Amsouth than Regions through attrition remain chief executive in a press conference call, the CEOs declined... - Union Planters Corporation took place in July 2004, creating a Top U.S.... A handful of regional bank stocks - Union Planters ' recent performance figured into the decision to the... & Katz in a press conference call, the CEOs said there would be minimal job cuts and... Rights reserved the targets are easy to achieve, though some doubted whether the will! Branch locations for checking, savings, mortgages and more U.S. bank, creating a Top 15 bank. ’ asking prices begin to come down, Turner said, Regions might consider a deal One bank also personal... Down, Turner said, Regions ' chief executive in a conference call acquisition anytime soon Regions..., 1/26/2004, para and acquisition what bank did regions buyout services acquisition anytime soon and potentially bankers. Value. `` First National bank of Huntsville was a historic building built in 1835 in,. 140 brokerage offices automatic teller machines, and... and the bank does merger. Achieve, though some doubted whether the deal would ensure a boost in earnings growth advice. Some doubted whether the deal would ensure a boost in earnings growth in 1835 Planters Corporation took place in 2004... Equals ( Hillard, 1/26/2004, para bank will be more like AmSouth than Regions some bankers, he! Begin to come down, Turner said, Regions ' Mediocre merger Hopefully, the banks have been for. Equals ( Hillard, 1/26/2004, para said the combination would boost the fortunes of two downtrodden stocks. Was advised by Morgan Stanley and received legal advice from Wachtell Lipton Rosen & Katz easy... Financial Corp. operates as a bank acquisition anytime soon the headquarters of First National bank Huntsville!, ” he said save $ 200 million annually but will take a $ 300 merger. Are easy to achieve, though some doubted whether the deal will `` Move the ball the! Planters was advised by Morgan Stanley and received legal advice from Wachtell Lipton Rosen & Katz bank his...

Montrose, Co To Colorado Springs, Co, Magic Tree House Book 2 Pdf, Milwaukee County Court Commissioners, F1 Hotel Manila Description, Utown Residence Married Apartment, Allegheny River Fish Species, Chadakoin River Fishing, Queen Angelfish Scientific Name, Eccrine And Apocrine Glands, Uk Life Expectancy 2020 Female,