Regions Bank is the banking division of the Regions Financial Corporation, which is one of the largest financial service providers in the United States. The bank provides individual and commercial customers with deposit and loan products and services, as well as trust and wealth management services. Regions Bank also employs Wealth Advisors on its wealth management side to provide customers with guidance on various investment and insurance products.
On its Personal Banking side, Regions offers its customers various depository products including Checking, Savings, Money Market, and Certificate of Deposit accounts. Multiple checking accounts are available that offer simple services like direct deposit and check writing. Several checking account offerings are customized for different demographics like seniors and students, and most of the accounts have no monthly fees. As far as savings accounts, Regions offers one with a good interest rate if conditions are met, as well as an account for minors. Money Market accounts are available as well and come with a monthly fee and minimum balance requirements. Regions also offers CDs that range in term lengths starting from as short of a period as 7 days.
Regions Bank online banking is a sophisticated Internet platform on which customers can pay bills, view check images, transfer funds, and manage their rewards. The bank’s reward program offers points for purchasing activities performed using a Regions-issued Visa checkcard. Regions Bank also has a mobile smartphone app that allows customers to perform tasks like bill pay, account management, mobile deposit, and fund transfer while on the go.
Regions Bank is headquartered in Birmingham, Alabama, and is the largest bank in the state and one of the largest banks in the southeastern United States. It operates over a thousand branches across multiple states in the region. Regions Bank was originally established as the Exchange-Security Bank in 1928 before changing its name to First Alabama Bank of Birmingham in 1975. After a series of acquisitions and mergers, the bank expanded its operations to cover the majority of the Southeastern United States. In 1994, the bank changed its name to Regions in order to reflect their expanding operational presence.
DO NOT use REGIONS bank or any AMsouth bank. They exist only to
find ways to remove money from your account. I have lost thousands
of dollars due to there incompetence on 2 different occasions. One
when a woman forgot to turn in paperwork to cancel a check card
when fraudulent charges showed up, thereby allowing my account to
be drained. Then tried to force me to pay hundreds in overdrafts
due to thier own incompetence!! When I contacted regions they ran
me around and literally did nothing. They lied to me about letting
me talk to a manager and only passed the phone to another low level
employee who lied to me about his position.
Less than a year later they did almost the same thing, failing
to close an account and tried to
hold me acountable for fraudulent charges after the account was
supposed to be closed. When I finally did get through to a higher
up, he told me..... "while I wasn't on the phone for that
converstation now was I?" "Lets see you prove it" Yeah this was MY
Simply put, they care nothing about thier customers, only finding
ways to part them from thier money through hidden rediculous
Bottom line... WHY take a chance? GO ELSEWHERE!!!
After several years of maintaining both personal and business accounts at Regions, I have now become concerned about their condition and long term viability. Negative ROI and ROE are just the exterior signs causing alarm. Sharp personnel cutbacks, longer funds holding periods on, even, funds from other large Fed Member banks, and large fee increases combine to send up ingnificant red flags.
I hate to hear problems others have had, but I think most people are quick to complain when they have a problem, but don't take the time to write a review if they had a good experience. I bank with Regions in Auburn, AL, and haven't had any problems. The people are nice and I can always get them on the phone. They always take time to answer my questions and explain things to me. I like the online and mobile banking, and the cash back rewards in my account. I am in my 40's and started with them in high school in Mobile, AL, when it was First AL bank. Never had any problems there either, and my Dad still banks with them in Mobile.
I just wanted to take a minute to write about my experience with Regions. I recently purchased a home using a regions mortgage. The process was very easy because I had great people at regions helping me. Because I was getting a mortgage I qualified for checking, savings and Money market accounts with no fees. I was moving out of state but was able to start the process in my original state. The people are the most friendly people you will meet. They explain everything and always make sure that I understand. I will definitely keep banking with regions.
The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Regions Bank had $1.49 billion in non-current loans and owned real-estate with $17.34 billion in equity and loan loss allowances on hand to cover it. This gives Regions Bank a Texas Ratio of 8.57% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Regions Bank decreased slightly from 12.08% as of March 31, 2013 to 8.57% as of March 31, 2014, resulting in a positive change of 29.10%.This indicates that the balance sheet and financial strength for Regions Bank has improved slightly in recent periods.
In the past year, Regions Bank has decreased its total deposits by -$441.24 million, resulting in -0.46% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Regions Bank has shown is average.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Regions Bank has $117.08 billion in assets with $17.34 billion in equity, resulting in a capitalization level of 14.81%, which is excellent.
|FDIC Certificate #||12368|
|Assets and Liabilities|
|Equity Capital||$16.07 billion|
|Loan Loss Allowance||$1.26 billion|
|Unbacked Noncurrent Loans||$1.36 billion|
|Real Estate Owned||$124.18 million|
|Historic Data - March 2013|
|Equity Capital||$16.49 billion|
|Loan Loss Allowance||$1.75 billion|
|Unbacked Noncurrent Loans||$1.36 billion|
|Real Estate Owned||$132.94 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.3%|
|Return on Assets||1.14%|
|Return on Equity||8.35%|
|Interest Income||$897.94 million|
Always verify rates and promotions with the bank or credit union. We are not Regions Bank, we are a rate comparison website and can not provide official rates or promotions.
|0.01%||-||-||Savings for Minors|
|0.25%||$100k||$1m||Platinum Relationship Money Market Special|
|0.25%||$50||-||Money Market IRA|
|0.25%||$50||-||Money Market Roth IRA|
|0.25%||$50||-||Money Market CESA|
|0.10%||$100k||-||Platinum Relationship Money Market|
|0.01%||-||-||Money Market Account|
|0.01%||-||-||Lifegreen Preferred Checking|
|0.01%||-||-||Business Interest Checking|
|2.00%||$500||-||70 - 71 Month Relationship CD - Promotional|
|2.00%||$500||-||Business 70 - 71 Month Relationship CD - Promotional|
|1.10%||$500||-||40 Month Relationship CD - Promotional|
|1.10%||$500||-||Business 40 Month Relationship CD - Promotional|
|0.60%||$500||-||60 - 69 Month Relationship CD|
|0.60%||$500||-||Business 60 - 69 Month Relationship CD|
|0.60%||$500||-||72 - 84 Month Relationship CD|
|0.60%||$500||-||Business 72 - 84 Month Relationship CD|
|0.50%||$500||-||48 - 59 Month Relationship CD|
|0.50%||$500||-||Business 48 - 59 Month Relationship CD|
|0.30%||$500||-||36 - 39 Month Relationship CD|
|0.30%||$500||-||Business 36 - 39 Month Relationship CD|
|0.30%||$500||-||41 - 47 Month Relationship CD|
|0.30%||$500||-||Business 41 - 47 Month Relationship CD|
|0.20%||$500||-||30 - 35 Month Relationship CD|
|0.20%||$500||-||24 - 29 Month Relationship CD|
|0.20%||$500||-||Business 24 - 29 Month Relationship CD|
|0.20%||$500||-||Business 30 - 35 Month Relationship CD|
|0.10%||$500||-||12 - 17 Month Relationship CD|
|0.10%||$500||-||18 - 23 Month Relationship CD|
|0.10%||$500||-||Business 12 - 17 Month Relationship CD|
|0.10%||$500||-||Business 18 - 23 Month Relationship CD|
|0.05%||$500||-||6 - 11 Month Relationship CD|
|0.05%||$500||-||Business 6 - 11 Month Relationship CD|
|0.03%||$500||-||1 - 5 Month Relationship CD|
|0.03%||$500||-||Business 1 - 5 Month Relationship CD|
|0.01%||$2,500||-||0 Month Relationship CD|
|0.01%||$2,500||-||Business 0 Month Relationship CD|
|1.10%||$250||-||40 Month Fixed Rate IRA Special (w/ Regions Checking)|
|0.60%||$250||-||60 - 72 Month IRA|
|0.50%||$250||-||48 - 59 Month IRA|
|0.30%||$250||-||36 - 39 Month IRA|
|0.30%||-||-||41 - 47 Month IRA|
|0.20%||$250||-||24 - 29 Month IRA|
|0.20%||$250||-||30 - 35 Month IRA|
|0.10%||$250||-||12 - 17 Month IRA|
|0.10%||$250||-||18 - 23 Month IRA|
|0.05%||$250||-||6 - 11 Month IRA|