Regions Financial Corporation
 |
|
| Public | |
| Traded as | : RF S&P 500 Component |
| Industry | Financial services |
| Founded | 1971 as First Alabama Bancshares |
| Headquarters |
Regions Center Birmingham, Alabama, U.S |
|
Number of locations
|
1,772 (December 2010) |
| Products |
Commercial banking Retail banking Mortgage banking Investment banking Asset management Insurance |
| Revenue |
 US$ 5.428 billion (2014)
|
 US$ 1.09 billion (2014)
|
|
|
US$ 1.155 billion (2014)
|
|
| Total assets |
US$ 125.54 billion (2016)
|
| Total equity |
US$ 16.989 billion (2014)
|
|
Number of employees
|
23,000 (2014) |
| Website | Regions.com |
Regions Financial Corporation is a US bank and financial services company based in Birmingham, Alabama, with its corporate headquarters at the Regions Center. A member of the S&P 500 Index, the company provides retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services.
Regions is the only member of the Fortune 500 headquartered in Alabama (ranked #479 in 2015), and was ranked by Business Insider as the largest company in the state. Regions is the largest deposit holder in Alabama, with $22.8 billion in local deposits, or 25.7% of all local deposits. As of 2012, Regions had $122 billion in assets. In 2010, Regions had $137 billion in assets, making it at that time 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.
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. 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.
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Wikipedia