BIRMINGHAM, Ala.--(BUSINESS WIRE)--Regions Financial Corp. (NYSE:RF), the parent company of Regions Bank, on Tuesday announced it has completed its acquisition of Clearsight Advisors, Inc. The acquisition expands Regions’ mergers-and-acquisitions (M&A) advisory capabilities into the technology industry.
Clearsight will be incorporated into Regions Bank’s Capital Markets division. Over the last decade, Clearsight has built a solid reputation as a comprehensive M&A firm serving business clients in the high-growth global knowledge economy. Clearsight also delivers strategic financial advisory and consulting capabilities. Business sectors served by Clearsight include the technology, professional services, data and information services, and digital and technology-enabled services industries.
“By welcoming the experience and insights of Clearsight and its exceptional team, Regions Bank is further positioned to build on the holistic, consultative approach to service that we deliver to clients seeking to build on their growth and advance their business strategies,” said Joel Stephens, head of Capital Markets for Regions Bank. “In addition to complementing and enhancing the advisory services delivered by Regions Capital Markets, Clearsight is a tremendous cultural fit for Regions. We share Clearsight’s innovative, client-driven focus on meeting complex financial needs through deep market knowledge, strong collaboration with our business partners, and a clear emphasis on providing an optimal client experience.”
Regions will maintain Clearsight’s headquarters office in McLean, Virginia, as well as business offices in New York City and Dallas, Texas.
“The response to the earlier announcement of this transaction has already been overwhelmingly positive from our clients and employees,” said Clearsight Advisors Co-Founder and CEO Joel Kallett. “Our entire team is enthusiastic about the combination and will be remaining with Clearsight to continue providing our world-class M&A advisory services. Several clients have reached out to congratulate us and have already started inquiring about additional solutions available through Regions Capital Markets. Together, Clearsight and Regions are now even better positioned to extend our leadership position advising premier knowledge economy growth companies.”
Regions’ acquisition of Clearsight Advisors formally closed on Dec. 31, 2021. Terms of the acquisition were not disclosed.
The acquisition of Clearsight builds further revenue diversification for Regions Bank and follows Regions’ recent acquisition of Sabal Capital Partners, LLC. Sabal Capital Partners is also being incorporated into Regions’ Capital Markets division. 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.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. 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. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
About Clearsight Advisors, Inc.
Clearsight Advisors is an 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. Clearsight combines deep market insights across software, services and data. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC. For more information about Clearsight, visit www.clearsightadvisors.com.
Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect Regions Financial’s current views with respect to future events and financial performance. 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. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. 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. If underlying assumptions prove to be inaccurate or unknown risks or uncertainties arise, actual results could vary materially from these projections or expectations. Factors that could cause Regions Financial’s 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 Clearsight’s business; the continued or potential effects of the COVID-19 pandemic and related variants and mutations on Regions Financial’s business, financial condition, and results of operations; and risks identified in Regions Financial’s Annual Report on Form 10-K for the year ended December 31, 2020, and subsequent filings with the Securities and Exchange Commission. However, these risks and uncertainties are not exhaustive. Other sections of such filings describe additional factors that could impact Regions Financial’s business, financial performance, and consummated acquisition transactions, including the Clearsight transaction. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Regions Financial assumes no obligation to update or revise any forward-looking statements that are made from time to time.