Regions Bank

Overview / Commentary
1900 Fifth Avenue North
Birmingham, AL 35203

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.

Related Posts

Regions Bank 18-Month Variable Rate IRA Yielding 5.33% APY - 2/28/2023

I posted about this product several months ago, but rates have increased dramatically, so I am updating. Because it is an IRA, it does not seem to get covered in the regular CD Deals Summary. Availability: Quoting DA, "Regions Bank is the banking division of the Regions Financial Corporation, which is one of the largest financial service providers in the United States." This offering is available in 15 states: Alabama, Arkansas, Florida, Georgia, Indiana, Illinois, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas. Key points: - Variable interest rate equals the weekly 6-month Treasury Bill + 25bps - Traditional IRAs only (Not available for Roth IRAs) - Minimum opening deposit of $250 - Add-on deposits allowed with a minimum deposit of $50 Early Withdrawal Penalty (EWP) - I was told by a CSR that there is no EWP if a withdrawal is made after age 59 1/2. Being somewhat skeptical, I went on a search of the Deposit Agreement and

Regions Bank 18-Month Variable Traditional IRA Up To 4.60% APY - 10/21/2022

Due to system problems, Regions Bank rates are not available online today. But, I confirmed with CSR that the current rate on the 18-Month Variable IRA is now 4.60% APY based on this week's 6-month Treasury auction. This rate rivals the highest direct CD and Treasury rates available today for this maturity that are available in an IRA.  And, if you think 6-month Treasury rates will continue to rise,  this product will enable you to capitalize on those rising rates. If you are interested, you may want to check out my previous posts on this product.

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8/21/17 - Regions Bank Has $200 LifeGreen Checking Bonus
1/18/17 - $400 Checking Bonus Available At Regions Bank
1/10/17 - Regions Bank Offers $300 LifeGreen Checking Bonus
7/15/16 - Regions Bank Extends LifeGreen Checking Bonus
2/24/16 - Regions Bank Offers Targeted $200 LifeGreen Checking Bonus
6/15/15 - [EXPIRED] Earn $350 For Opening A Checking Account At Regions Bank
10/20/14 - Earn $165 When You Open A LifeGreen Checking Account At Regions Bank
7/7/14 - Competitive 70-Month Promotional CD at Regions Bank
1/19/14 - Regions Bank Exits Payday Loan Business
4/17/13 - No Hackers To Blame For Regions’ Website Outage
3/22/13 - Another Regions Bank's $125 Checking Account Bonus - Available in Several States
7/31/12 - Regions Bank's $125 Checking Account Bonus in Several States
4/4/12 - Treasury: Regions Financial Repays TARP Funds
8/29/11 - Regions CD Owners Take Note
1/9/11 - Regions Bank CD Special Relationship Rates On 1/9/2011
12/7/10 - Regions Bank CD Special Relationship Rates
1/9/10 - 2.00% 12-Month CD, 2.50% 23-Month CD & 3.25% 42-Month CD at Regions Bank in Several States
12/16/09 - 2.00% 15-Month CD & 2.50% 23-Month CD at Regions Bank in Several States - Local Only
10/24/09 - 3.25% 42-Month CD at Regions Bank in Several States
9/20/09 - 3.25% 42-Month CD & 2.50% 23-Month CD at Regions Bank in Several States
4/21/09 - 3.25% 39-Month CD and Other Competitive CD Rates at Regions Bank
11/10/08 - Update on Regions CD and Money Market Account Promotions
10/9/08 - 4.00% Money Market Promotion and Update on CDs at Regions
10/3/08 - 5.00% 30-Month CD at Regions Bank
8/29/08 - 5.00% 6-Month CD at a Georgia Bank (Integrity Bank).
8/29/08 - 5.00% Reward Checking Account at a Georgia Bank (Integrity).
8/29/08 - 4.25% 10-Month CD at a Georgia Bank (Integrity).
8/5/08 - 4.00% 7-Month / 4.75% 30-Month CD at Regions Bank (Rates May Vary By State)

Reviews (128)

My Experience With Regions

Posted by: |

I Melissa want to give a shout out to a bank teller name is Ms. Robin at the Roswell location I appreciate her for helping me open an account when I first approached the bank the first person I saw with her she greet me with a smile and she also offer me something to drink she helped me with the question I needed to ask she also explained thoroughly about the bank and the different account she also helped me make my choice of the account that I need to know about I appreciate her so much (Ms Robin you rocks )I appreciate her for everything she did for me she were very very professional at her job and I also like to give a shout out to her coworkers and I also recommend other people to go see (Miss Robbie )cause of her I have my account together and I have my life back on track thank you Mrs Robin keep the good work up

Leaving Regions - Like Others Due To Indefinsible Deposit Holds

When we moved to Florida some 3 years ago there was a Regions just 5 minutes from our new home - very convenient. Since then the lobby area has increasingly remained closed (not even a sign on the door) - with only drive up service available. According to the Manager, this has been due to a shortage of personnel ... FOR WEEKS OR MONTHS. This is particularly true and aggravating on Fridays - a peak banking day for many.

As others have decided and posted, we will begin our account moves out of Regions to another institution on Monday - due specifically to these indefensible deposit holds ... 10 days or more - even for CASHIER CHECKS DEPOSITED FROM MAJOR BANKS BLOCKS AWAY! Of course these holds defeat the entire purpose of getting a cashier's check to speed financial transactions along in the first place. In fact, these Regions practices make a mockery out of the entire cashier check process within the industry.

I can only wonder if sitting on deposits like this could be a sign of deeper overall corporate financial concerns ...

A few phone calls today indicated "the norm" within the financial industry locally seems to be a 24 hour hold for cashier's checks. If not outright illegal, these practices seem unethical at best. Bye bye Regions.

Going Downhill Fast

Posted by: |

I've been banking with Regions for decades, but recently, there have been changes that make it difficult to stay with them. First of all, a year or so ago, they fired almost all of their long-time employees, leaving the staff shorthanded. Then they closed on Saturdays. Last week, I lost a credit card. I called the bank, they told me I had to call an 800 number to report the loss, they couldn't handle it in the office! 800 number has a wait time of 20 minutes, and they hung up on me after about 10. That's happened 3 times this week. As a result of COVID, I tried for weeks to set up online banking with no success. I have begun the process of moving my savings to another bank.

Horrible Bank

We were on fumes coming home and pulled into last gas station for twenty two miles. we had waited a gas was 22 cents less a gallon. We had money in account, but bank declined card despite the fact funds were in account, and overdraft protection in place. We ran card three times, but declined all three times. We got text message five minutes later down the road, card was declined to protect back because they flagged it, despite having used gas station numerous times and only 35 miles from house. When I called and asked for supervisor I was told bank will flag sometimes to protect card holder. There was no reason to flag this card and it caused great hardship for us running out of gas on a school night and what a celebration turned onto a horrible night. Bank accepted no responsibility at all, we lost hours of time and used one of our AAA calls. This should not have happened. in addition always a wait due to understaffed bank, always a line. Teller told us bank had issued a hiring freeze. Atm has been broken seven times this year.



Health Grade Components

FDIC Certificate #12368
Year Established1928
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD16.68%
Annual Interest Income$1.64B
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$153.1B$163.2B
LoansQ1 2023vs Q1 2022$97.13B$88.60B
DepositsQ1 2023vs Q1 2022$130.7B$142.4B
Equity CapitalQ1 2023vs Q1 2022$15.60B$16.78B
Loan Loss AllowanceQ1 2023vs Q1 2022$1.47B$1.42B
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$617.0MM$405.0MM
Real Estate OwnedQ1 2023vs Q1 2022$14.0MM$12.0MM

Sorry, we do not have rate data for Regions Bank.



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