Regions Financial

Regions Financial is a finance company and it has launched regions mobile deposit for their customer. The Corporation was formed in 1971 as First Alabama Bancshares Inc.

Alabama's first multibank holding company. With the combination of three well-respected banks, the holding company began operations with a total of $543 million in assets and 40 banking locations in Birmingham, Huntsville and Montgomery.

1971: In July, the holding company began operations with 40 locations in Birmingham, Huntsville and Montgomery. Despite some early opposition, the Federal Reserve approved the creation of First Alabama Bancshares in a 5-to-2 vote.

1985: Until their formal merger in March, under revised banking regulations, the banks continued to operate independently.

1986: The company changes in the Interstate Banking Bill allowed bank holding companies to purchase bank branches outside the state in which they were chartered.

1994: 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.

1998: The name "Regions" was purchased from First Commercial Corporation, the Arkansas Bank that Regions subsequently purchased this year.

2001: Regions acquired Morgan Keegan & Company for $789 million.

2002: The company announced that it will list its common stock on the New York Stock Exchange. Regions acquired Independence Bank for approximately $24 million in cash.

2004: On January 24th, Regions merged with Memphis, Tennessee–based Union Planters Bank in a $5.9 billion transaction.

2006: Regions acquired AmSouth Bancorporation, another Birmingham-based bank, in a $10 billion transaction.

2007: The combination of these two major bank holding companies into the new Regions was the last major unforced financial transaction in the United States before the Great Recession started to show signs beginning of the year.

2008: Regions Bank received a $3.5 billion loan as part of the Troubled Asset Relief Program.

2009: In February, FirstBank Financial Services of McDonough, Georgia, was also placed into receivership by the FDIC and Regions Bank assumed its operations.

2012: In January, Regions sold Morgan Keegan to Raymond James for $930 million. On April 4th, Regions repaid the $3.5 billion loan.

2018: In July, the company sold its insurance operations to BB&T.

2021: In June Regions announced they would acquire home improvement lender EnerBank USA for $960 million.

“To achieve superior economic value for our shareholders over time by making life better for our customers, our associates and our communities and creating shared value as we help them meet their financial goals and aspirations.”

“Regions aim to be the premier regional financial institution in America by being deeply embedded in its communities, operating as one team with the highest integrity, providing unique and extraordinary service to all of its customers, and offering an unparalleled opportunity for professional growth.”