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Encyclopedia > Regions Financial

Regions Financial Corporation NYSE: RF is a publicly held company based in Birmingham, Alabama. The company provides of retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services. New York Stock Exchange (June 2003) The New York Stock Exchange (NYSE) , also nicknamed the Big Board, is by far the largest stock exchange in the world (by dollar volume) and second largest by number of listings. ... Nickname: The Magic City, Pittsburgh of the South, BHam Official website: http://www. ...


Regions had $84.6 billion in assets as of 2005, making it one of the top 15 banks in the United States. Its banking subsidiary, Regions Bank, operates some 1,300 offices across a 16 states in the South, Midwest and Texas. Its investment and securities brokerage, trust and asset management division, Morgan Keegan & Company, Inc., provides services from over 280 offices. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... The Midwest is a common name for a region of the United States of America. ... Official language(s) None. ... Founded in 1969 in Memphis, Tennessee, Morgan Keegan & Company is a regional investment firm offering full-service investment banking, securities brokerage, trust and asset management. ...


In 1998 Regions bought out First Commercial in Little Rock Arkansas. All First Commercial Banking Locations were renamed to Regions Bank. All First Commercial Policies, Products and standards were laid to rest converting all over to the Regions way of doing things. This was the beginning of the end for a lot of First Commercial employees based in Little Rock as several Key departments were systematically shut down over the next few years.


In 2005, the Regions Bank subsidiary completed its acquisition of Union Planters Bank, based in Memphis, Tennessee. All former Union Planters banking locations have been renamed to Regions Bank. 2005 (MMV) was a common year starting on Saturday of the Gregorian calendar. ... Union Planters Bank was a large national bank based in Memphis, Tennessee. ... Nickname: The River City, The Bluff City Official website: http://www. ...


Over the course of several months after the merger, Regions Bank closed several of its check processing centers throughout the Regions footprint leaving hundreds without jobs. Regions Financial Corporation continues to shut down additional departments in Little Rock Arkansas, Nashville Tennesse, as well as other key areas, leaving more and more employees without jobs.


Severence pay was given to to the employees that were phased out, but several of its long term employees were forced to downsize their hours to part time. How much severence pay the employees received was based on full time or part time status. Those ending their employment with Regions with a part time status received half of the pay they would have received if they had remained on a full time status.


External links

  • Regions Financial official site

  Results from FactBites:
 
FRB: Press Release -- Approval of application of Regions Financial Corporation -- March 11, 1998 (1887 words)
Regions is the largest commercial banking organization in Alabama, controlling deposits of approximately $8.8 billion, representing approximately 19.4 percent of total deposits in commercial banking organizations in the state ("state deposits").
The Board also has considered the financial and managerial resources and future prospects of Regions, FSC, and their respective subsidiary banks in light of all the facts of record, including supervisory reports of examination assessing the financial and managerial resources of the organizations and financial information provided by Regions.
Based on all the facts of record, the Board concludes that considerations related to the financial and managerial resources and future prospects of Regions, FSC, and their respective subsidiary banks are consistent with approval under the BHC Act, as are other supervisory factors the Board must consider under the BHC Act.
Interview with Charles Murray, Regions Financial: TWST (751 words)
Murray: Regions Financial Corporation, formerly First Alabama Bancshares, was formed in 1971 with three Alabama banks: the First National Bank of Huntsville, the First National Bank of Montgomery, and Exchange Security Bank.
In 1998 Regions was added to the S&P 500, and our current market capitalization is about $7 billion.
Regions acquired Morgan Keegan, Inc., in March 2001.
  More results at FactBites »


 

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