Regions.com
Regions
The Regional Financial Corporation has its headquarters at Brimingham, Alabama, USA. It is a public company with around 37000 employees and income of $1,353 million in 2006. It has more than 2000 branches in 16 States. The Membphis based investment bank and brokerage Morgan Keegan is also owned by Regions Financial. It had total revenue of $7,756 million in 2006. The assets of the company in 2007, total to a staggering $143 billion. It is among the top ten banks in the US. The slogan of the company is “Make life better”. It has a web presence in http://www.regions.com/.
The Chairman of the Company is Jackson W. Moore and the President and CEO of the company is C. Dowd Ritter. The company faces competition only from the Bank of America, SunTrust and Wachovia.
The major activity of the company is Finance and Insurance. The company provides regional and commercial banking services. Its products include credit cards, loans, deposit products, investments, insurance, financial planning, trust, asset management and cash management services.
History
Regions Financial Corporation was the result of the merger of three financial institutions—the First National Bank of Montgomery, the Exchange Security bank of Birmingham and the First National Bank of Huntsville. The company that emerged was called the Alabama Bancshares and all three banks continued their operations independently under the banner. Other acquisitions soon swelled the holding company till the final merger of the three banks in 1985.
The Interstate banking bill of 1986 proved beneficial to the company as they were now allowed to purchase banks outside the state. They expanded their operations by purchasing bank branches in Florida, Georgia, Tennessee and Arkansas. It also changed its name to Regions Financial Corporation during 1992.
Today, the company operates banking branches, mortgage banks, trust companies and investment subsidiaries. It purchased the securities brokerage firm Morgan Keegan in 2000. The company announced its merger with the Memphis, Tennessee based Union Planters bank in 2004. The logo of the bank was changed to the Union Planters logo after the merger.
Regions Financial Corporation announced its acquisition of AmSouth Banccorporation in 2006. The name of the latter will be changed to Regions bank name and the entire operation is expected to be complete by mid 2007. With this merger Regions financial became the 8th largest bank in the United States.
In the Community
Regions Financials has made a strong commitment to the communities they serve. They support community activities, events and organizations, families and neighborhoods. They strongly believe that they must nurture unity through a variety of volunteer services, monetary gifts, scholarships and donations. This is evident in the $100 billion invested in community development, small business and low to moderate income housing projects they have taken up. Sports are an integral part of the overall marketing strategy of the company. The company’s brand identity is “Everyday Confidence” of the sportsman. They support a number of sporting events in South, Midwest and in the Texas. The Regions-Keegan Tennis tournament is one such event. The Hoover Metropolitan Stadium located in Hoover, Alabama was changed to Regions Park when a nine season’s agreement was signed by the company with a promise to sponsor myriad of sports events. It will be the home to Baron Baseball, Hoover High School Football, and The South Eastern Conference Baseball Championship Tournament, Birmingham Southern Football as well as Concerts, Business Meeting and group outings.
Regions Financial Corporation supports the United Way and is the primary outlet of the company for sponsoring health services. The company has also made a commitment to make life better by supporting the development of art and culture in the region. Special focus is given to cultural programs that provide opportunities to children or encourage low or moderate income families in the community.
However the company imposes several restrictions on organizations that discriminate on race, color, gender, national origin or family status. They do not support organizations that seek tax exemptions, individuals, political organizations, religious organizations. They do not give athletic scholarships, support alumni associations or national fund drives that do not tie in to the community.
Financial Facts
Regions stock is traded in the New York Stock Exchange under the symbol RF. The company is ranked “Platinum 400” by Forbes and among the top 10 on Fortune 2007’s list of most admired banks in the country. The US small business Administration has ranked Regions as one of the top banks that support small businesses financially. Regions is a member of the Identity Theft Assistance Corporation, which helps fight identity theft and crimes against their customers arising there from. Regions shareholders have received dividends for 36 consecutive years and it is a member of S&P 100 index.
Languages
English
Additional Information
Related Domains
External Links
- Stock: RF
- Alexa: Regions.com
