Regions Financial (RF)

Regions Financial Corporation (RF) is a Birmingham, Alabama-based financial holding company. Its banking subsidiary, Regions Bank now operates about 1,900 full-service offices and 2,464 ATMs, after the divesture of certain AmSouth branches, across a 16-state footprint in the South, the Midwest and Texas, offering a full range of traditional retail and commercial banking services. Regions also operate a significant securities arm, Morgan Keegan & Company, which provides investment advice, securities brokerage, trust and asset management, from roughly 430 offices. In addition to banking and securities brokerage, Regions has a significant insurance brokerage operation.

Regions merged with AmSouth Bancorporation (which was roughly two-thirds its own size) in November 2006. The slow-and-steady approach utilized in the earlier merger with UPC, was designed to minimize turnover among customers and employees, and should be the final characterization of the ASO merger as well. The conversion will take place in phases, with Alabama and Florida markets to be first on the list. Regions merged with Union Planters Corporation (very similar in size) in July 2004. The final phase of UPC branch conversions was completed in November 2005. In March 2007, Regions completed the sale of its non-conforming mortgage business, EquiFirst, for an estimated $76 million.

Real estate (including home equity), the largest component of the loan portfolio, equated 71% of total loans as on March 31, 2008. Commercial (C&I) represented 22.5% of loans, with indirect loans and other consumer loans representing 6.5% of the loans. At the end of 1Q08, RF had $144.0 billion in total assets, $96.0 billion in loans, and $89.0 billion in deposits.

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