Regions Bank acquires Sabal Capital Partners
Davis Polk is advising Regions Bank on its acquisition of Sabal Capital Partners, LLC. The transaction is expected to close in the fourth quarter of 2021, subject to obtaining necessary consents from certain governmental agencies and government-sponsored enterprises and satisfaction of customary closing conditions. Financial terms of the agreement were not disclosed.
Regions Financial Corporation, 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. Headquartered in Irvine, California, Sabal Capital Partners and its commercial real estate lending and servicing subsidiaries and affiliates have originated nearly $6 billion in financing nationally through the company's highly specialized wholesale lending platform.
The Davis Polk financial institutions M&A team includes partners Michael Davis and Margaret E. Tahyar and associates Kristy Choi and Alba Baze. The executive compensation team includes partner Kyoko Takahashi Lin and associate Kerri Thompson. The tax team includes partner William A. Curran and associate Yixuan Long. The intellectual property and technology transactions team includes partner Pritesh P. Shah and associate Hilary Smith. All members of the Davis Polk team are based in the New York office.