Regions Financial Corporation began in 1971 as First Alabama Bancshares when 3 Alabama banks merged: First National Bank of Huntsville, First National Bank of Montgomery, and Exchange Security Bank of Birmingham.
The banks continued to operate independently until 1985 when law changes allowed them to formally merge.
In 1986, the company expanded into Florida. The bank would later expand to much of the Southeast.
In 1992, the company name was changed to Regions Financial Corporation and Regions Bank.
In 2000, the company acquired Morgan Keegan. This division was sold to Raymond James in 2012.
In 2002, the company went public on the NYSE.
In 2004, the company merged with Union Planters Bank.
In 2018 the company decided to sell the insurance part of the business to BB&T, even if it meant taking a loss.
In July 2022, Regions Bank was recognized as one of the Best Workplaces for the Disabled.
In October 2022, Regions Bank was forced to repay customers $141 million in illegal overdraft fees.
Today, Regions is the 22nd largest bank in the US with over 1700 branch locations. The company maintains a corporate office in Birmingham, Alabama.
Regions Financial Corporation began in 1971 as First Alabama Bancshares when 3 Alabama banks merged: First National Bank of Huntsville, First National Bank of Montgomery, and Exchange Security Bank of Birmingham.
History
The banks continued to operate independently until 1985 when law changes allowed them to formally merge.
In 1986, the company expanded into Florida. The bank would later expand to much of the Southeast.
In 1992, the company name was changed to Regions Financial Corporation and Regions Bank.
In 2000, the company acquired Morgan Keegan. This division was sold to Raymond James in 2012.
In 2002, the company went public on the NYSE.
In 2004, the company merged with Union Planters Bank.
In 2018 the company decided to sell the insurance part of the business to BB&T, even if it meant taking a loss.
In July 2022, Regions Bank was recognized as one of the Best Workplaces for the Disabled.
In October 2022, Regions Bank was forced to repay customers $141 million in illegal overdraft fees.
Today, Regions is the 22nd largest bank in the US with over 1700 branch locations. The company maintains a corporate office in Birmingham, Alabama.