Acquisition & Merger
In 2004, Regions Financial Corporation of Birmingham, Alabama entered merger negotiations with Union Planters Bank. Regions was the surviving company in the resulting $5.9 billion transaction, with over 1,400 branches throughout the South and Midwest. Union Planters and Regions were given an equal number of seats on the board of directors. According to the Federal Reserve Order Approving the Merger, Union Planters Bank was the thirty-ninth largest bank in the United States, having total consolidated assets of $31.5 billion and controlling deposits of $22.8 billion. Upon completion of the merger, Regions became the nation's 21st largest bank. The merged company used Union Planters' old logo of a young cotton plant.
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Famous quotes containing the word acquisition:
“Always and everywhere children take an active role in the construction and acquisition of learning and understanding. To learn is a satisfying experience, but also, as the psychologist Nelson Goodman tells us, to understand is to experience desire, drama, and conquest.”
—Carolyn Edwards (20th century)