Regions Bank

Regions Bank

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More info of Regions Bank

Having a bank you trust can be an important step to substantially improve the management of your personal finances. Since there is a wide variety of financial companies in the United States, you need to know the most important ones to find out how they can help you.

This time we'll be taking a look at Regions Bank and what it has to offer.

Regions Bank Today

Today, Regions Bank represents a subsidiary company that is part of the Birmingham, AL-based investment firm Regions Financial Corporation.

Although a relatively young bank, it has more than 1,450 branches and 1,950 ATMs in 16 states in the South and Midwest regions of the country.

Ranked 23rd in terms of available assets, Regions Bank offers commercial and personal banking, trust, mortgage and stockbrokerage services.

It is also ranked as the largest deposit holder in states such as Arkansas, Alabama, Florida, Louisiana and Tennessee, and is included in the Fortune 500.

Among the different options offered by this solid entity, you have access to checking accounts, credit cards, mobile banking, rewards, CDs, money market accounts, investments and IRA options.

You also have access to personal loans, mortgages, auto loans, student loans and lines of credit. And if you want advice, you can get help improving your current finances and planning for retirement.

A Brief History of Regions Bank

Regions Bank was founded in 1971 under the name First Alabama Bancshares. This was made possible by the merger of three long-established institutions in this state: First National Bank of Montgomery, Alabama (opened in 1871), Exchange Security Bank of Birmingham, Alabama (founded in 1928), and First National Bank of Huntsville, Alabama (opened in 1856).

Due to legal impositions, these banks operated independently until 1985, when they were able to formalize the integration. The following year, they were allowed to begin annexing agencies outside their home state.

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This allowed First Alabama to enter markets such as Georgia, Florida, Tennessee and Arkansas. As a result of this expansion, this entity changed its name to Regions Financial Corporation in 1994, leaving Regions Bank as its banking subsidiary.

This name was taken from an Arkansas entity, First Commercial Corporation, which was acquired in 1998. In addition to the aforementioned expansions, branches were opened in Louisiana, Texas and South Carolina.

Other important milestones of this entity can be summarized as follows:

• The acquisition of Rebsamen Insurance Company (later renamed) and Morgan Keegan & Company (later sold in 2012) in 2001.
• The acquisition of Independence Bank and its listing on the New York Stock Exchange in 2002.
• The merger with Union Planters Bank in 2004, assuming that company's logo and significantly increasing its presence in Tennessee.
• In 2006, they acquired AmSouth Bancorporation, from which they adopted their current corporate structure.
• During 2009 and as a result of the problems associated with the crisis, Regions Bank assumed control of FirstBank Financial Services of McDonough (GA).
• In 2021, the bank completed the acquisition of EnerBank USA, a lender specializing in home improvement lending.

Values promoted by Regions Financial Corporation

An essential part of having a long-term relationship with a financial institution involves knowing its policies, business objectives and principles. At its core, Regions bank wants you to know that it promotes a strong, distinctive organizational culture focused on making your life easier.

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In this regard, they state that they have 4 basic commitments:

• To their customers. In order to improve your personal finances and achieve your goals, this bank offers you the Regions360 program. This is an approach dedicated to building stronger relationships to share added value.
• With its employees. To achieve its objectives, this institution's mission is to assemble the best team possible. It seeks to recruit the best employees, develop them and make them see that their work is critical to its overall success.
• With its shareholders. As its primary mission, Regions Bank seeks to create greater value for its shareholders to achieve their financial goals. To this end, they facilitate communication with stakeholders and establish long-term plans with sound economic strategies.
• With communities. Banking institutions that understand their influence on daily life understand that they must contribute to the development of their environment. This also applies to this institution, whose contributions are aimed at strengthening the economic, business and educational landscape of the regions where it operates.

We cannot say that Regions Bank is one of America's iconic institutions simply because it is among the top 25 on the list. We can say that it represents a young, established bank that is doing well for its customers and shareholders. For this reason, at Busconomico's comparator we have it as an option that you should consider.

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