Regions Financial in Birmingham, Ala., bought Frazier Lanier Company, an investment bank that specializes in municipal and corporate securities.
The $161 billion-asset Regions did not disclose the price it paid for the Montgomery, Ala., investment bank.
“By welcoming experienced bankers from Frazer Lanier to the Regions family, we are connecting Regions’ clients with even greater capabilities while advancing our long-term strategy for growth,” John Turner, Regions’ chairman, president and CEO, said in a press release.
Frazer Lanier will be integrated into Regions’ capital markets division.