Regions Financial Corporation
|Traded as||NYSE: RF
S&P 100 Component
S&P 500 Component
|Founded||1971 as First Alabama Bancshares|
Birmingham, Alabama, U.S
|Number of locations||1,772 (December 2010)|
|Revenue||US$ 8.22 billion (2011)|
|Operating income||US$ -885 million (2010)|
|Net income||US$ -539 million (2010)|
|Total assets||US$ 132.351 billion (2011)|
|Total equity||US$ 16.734 billion (2011)|
|Employees||27,829 (December 2010)|
Regions Financial Corporation is a publicly held company based in Birmingham, Alabama, USA, with the corporate headquarters at the Regions Center. A member of the S&P 100 Index, the company provides retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services.
Regions currently has $122 billion in assets as of 2012. Regions had more than $137 billion in assets as of 2010, making it the 22nd largest bank in the United States, and the 10th largest U.S. based bank.  Its banking subsidiary, Regions Bank, operates some 1,700 branches and 2,400 ATMs across a 16-state network in the South, Midwest, and Texas.
Company history to 2008
Regions Financial Corporation started on July 13, 1971 with the merger of three Alabama banks: First National Bank of Montgomery (opened 1871), Exchange Security Bank of Birmingham (opened 1928), and First National Bank of Huntsville (opened 1856). The combined company was known as First Alabama Bancshares, the first state-chartered bank holding company in Alabama. Other acquisitions expanded the holding company's reach. Until their formal merger in March 1985, under revised banking regulations, the banks continued to operate independently.
Many of these founding banks hold places of historic importance in Alabama. The First National Bank Building in Huntsville, which was originally the Branch Bank of the State of Alabama, is one of the few bank buildings in existence today which was used for the same intended purpose for about 170 years, until it was retired in January 2010.[clarification needed] It served as a hospital for Union soldiers during the American Civil War, and once held a rifle owned by Frank James as collateral for bail money when he was incarcerated across the street in the Madison County Jail.
In 1986, changes in the Interstate Banking Bill allowed bank holding companies to purchase bank branches outside the state in which they were chartered. First Alabama Bancshares expanded its operations first into Florida, continuing into Georgia, Tennessee, and Arkansas. To reflect its growth into a regional company, First Alabama Bancshares changed its name to Regions Financial Corporation and the name of its banking subsidiary to Regions Bank on May 2, 1992.
Regions added banking branches in Alabama, Georgia, Tennessee, Florida, South Carolina, Texas, Louisiana, and Arkansas. The name "Regions" was purchased from First Commercial Corporation, the Arkansas Bank that Regions subsequently purchased in 1998. The Louisiana Regions Banks were established in Monroe (Ouachita Parish) by two former members of the Louisiana State Senate, Jamar Adcock and William R. "Billy" Boles, Sr..
On April 10, 2002, Regions Financial Corporation announced that it has begun the process of listing its common stock on the New York Stock Exchange (NYSE) under the ticker symbol "RF". .
In addition to the bank subsidiary, Regions Financial operated a mortgage bank – Regions Mortgage – a trust company, and an investment subsidiary – Regions Investment Company, Inc. (RICI). Later, Rebsamen Insurance Company was acquired, further expanding the range of financial services offered by the company.
Major mergers and acquisitions
On December 19, 2000, Regions agreed to purchase Memphis, Tennessee, based securities brokerage firm Morgan Keegan for $789 million. Morgan Keegan took over investment banking Responsibilities from RICI and eventually also was given control of Regions Trust Company. The combined subsidiary is now known as Regions Morgan Keegan Trust, Inc.
In January 2012, Regions sold Morgan Keegan to Raymond James, a Florida-based brokerage firm, for $930 million. Regions Morgan Keegan was retained by Regions and now operates as Regions Trust.
On January 24, 2004, Regions merged with Memphis, Tennessee based Union Planters Bank in a $5.9 billion transaction. This merger was noteworthy – at least among large banks – for the fact that Regions, the acquiring bank, did not pay a premium above the currently trading stock price of Union Planters shares. Union Planters Bank, however, was to receive an equal number of board seats within the newly formed bank. Jackson W. Moore, the former CEO of Union Planters, became CEO of the merged company. He suffered a stroke after the merger closed, but was still able to assume his new post upon recovery. After the merger, Regions adopted Union Planters' former logo of a young cotton plant and used it until the AmSouth conversion. The merger significantly increased Regions' footprint in Tennessee; Union Planters had been the largest Tennessee-based bank.
On May 25, 2006, Regions announced it would be acquiring AmSouth Bancorporation, another Birmingham based bank, in a $10 billion deal. While Regions would be the surviving company, the merged entity would effectively adopt AmSouth's corporate structure. Upon completion of the merger, which took place on November 4, 2006, Regions Financial became the nation's eighth largest bank with total assets of nearly $140 billion and approximately 2,000 branches and more than 2,400 ATMs throughout a 16-state network. Jackson W. Moore remained chairman of the combined company while C. Dowd Ritter (chairman, president, and CEO of AmSouth) assumed roles as president and CEO of Regions Financial until April 1, 2010. Grayson Hall has now assumed president and CEO responsibilities. AmSouth branches in Alabama and Florida closed or converted to Regions on July 13, 2007. AmSouth branches in Event 2 either closed or converted to Regions on October 26, 2007. Some AmSouth branches remained in northwest Georgia, but they were converted on the evening of December 6, 2007 and the AmSouth name is now retired. Upon the merger, Regions adopted its new corporate logo and "life green" color scheme.
On August 29, 2008, Integrity Bank, of Alpharetta, Georgia, was placed into receivership by the Federal Deposit Insurance Corporation (FDIC) and Regions Bank assumed its operations. This change was a fallout from the United States housing bubble.
FirstBank Financial Services
In February 2009, FirstBank Financial Services of McDonough Georgia, was also placed into receivership by the FDIC and Regions Bank assumed its operations.
In J. D. Power and Associates 2008 Retail Banking Satisfaction Study, Regions came in last in customer satisfaction in the Southeastern region. In the 2011 Retail Banking Satisfaction Study, Regions came in fourth in customer satisfaction in the Southeastern region. 
In April 2011, Regions Bank scored the highest marks for retail banks in Florida, according to J.D. Power & Associates. 
In 2008, Regions Bank received a $3.5 billion loan as part of the Troubled Asset Relief Program. As of April 4th 2012 Regions Financial Corp. has repaid the $3.5 billion it received from the US government during the financial crisis
- "2010 Form 10-K, Regions Financial Corporation". Regions Financial Corporation. 2011-02-24. Retrieved 2011-04-09.
- "Regions Financial Corporation". Forbes. 2011-05-23. Retrieved 2011-05-23.
- "United States Largest Banks" (chart). InfoPlease. 2010-03-31. Retrieved 2007-11-26.
- "Nationas Largest Banks" (chart). nyjobsource. 2009-06-30. Retrieved 2011-01-22.
- "Public Hearing on Preemption Petition". Federal Deposit Insurance Corporation. 2005-05-24. Retrieved 2007-11-26. "What is now Regions Bank began as three separate banks: the First National Bank of Huntsville (chartered in 1865), the First National Bank of Montgomery, and the Exchange Security Bank of Birmingham. In 1971, First National Bank of Huntsville and Exchange Security Bank of Birmingham joined to create Alabama’s first bank holding company, First Alabama Bancshares and we renamed our banking operations First Alabama Bank."
- "Regions Financial Corporation Plans to List Common Shares On New York Stock Exchange".
- "Regions Financial Corp. and AmSouth Bancorporation to Merge" (Press release). Regions Financial Corporation. 2006-05-25. Retrieved 2007-11-26.
- "Failed Bank Information: Integrity Bank, Alpharetta, GA Closing Information". Federal Deposit Insurance Corporation. 2008-08-29.
- "J.D. Power: BancorpSouth best in customer service, Regions last". 2008-05-28.
- "Regions ranks first on J.D. Power list". April 22, 2011.
- Regions Financial Corporation official website
- Morgan Keegan official website
- Regions Insurance official website
- Regions Mortgage official website
- Regions Bank Locations