Type – Public (NYSE: RF)
Founded – 1971 as First Alabama Bancshares
Headquarters – Birmingham, Alabama, USA
Industry – Finance
Products – Credit cards, Loans, deposit products, investments, insurance, financial planning, trust, asset management, and cash management services.
Revenue – US$ 10.75 billion (2008)
Net income – US$ 1.251 billion (2008)
Total assets – US$ 146.0 billion (2009)
Employees – 30,784
Website – regions.com

Regions has more than $146 billion in assets as of 2009, making it one of the top 10 banks in the United States.Its banking subsidiary, Regions Bank, operates some 2,000 branches and 2,400 ATMs across a 16-state network in the South, Midwest, and Texas.

Brief History

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).

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.