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.

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Best B&M I've Banked With

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You won't get the great rates like you might at an online bank, but for what it is, I think it's the best bank out there.

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.

There Is Something Not Right With Regions

Posted by: |

I literally deposited $800 in my account Friday and I’m broke now. Something isn’t right about this bank. This is not the 1st time this has happened. I’m going to switch banks.
It’s a shame... I’ve been with them for almost 20 yrs



Health Grade Components

FDIC Certificate #12368
Year Established1928
Primary RegulatorFED
Profit Margin
Return on Assets - YTD0.86%
Return on Equity - YTD6.7%
Annual Interest Income$4.25B
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$146.5B$125.6B
LoansQ4 2020vs Q4 2019$85.00B$82.73B
DepositsQ4 2020vs Q4 2019$124.2B$99.84B
Equity CapitalQ4 2020vs Q4 2019$18.35B$16.42B
Loan Loss AllowanceQ4 2020vs Q4 2019$2.17B$869.0MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$825.0MM$608.0MM
Real Estate OwnedQ4 2020vs Q4 2019$31.0MM$65.0MM
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Regions Bank Savings Account Rates

0.01%--Lifegreen Savings
0.01%--Regions Savings
0.01%--Savings for Minors
0.01%--Business Savings
0.01%--Regions Now Savings

Regions Bank Money Market Rates

0.01%--Money Market Account
0.01%$50-Money Market IRA

Regions Bank CD Rates

0.40%$10k-63 Month Promotional Relationship CD
0.40%$10k-Business 63 Month Promotional Relationship CD
0.05%$500-48-59 Month Relationship CD
0.05%$500-Business 48-59 Month Relationship CD
0.05%$500-36-47 Month Relationship CD
0.05%$500-Business 36-47 Month Relationship CD
0.05%$500-24-35 Month Relationship CD
0.05%$500-Business 24-35 Month Relationship CD
0.05%$500-60-62 Month Relationship CD
0.05%$500-64-72 Month Relationship CD
0.05%$500-Business 60-62 Month Relationship CD
0.05%$500-Business 64-72 Month Relationship CD
0.03%$500-12-17 Month Relationship CD
0.03%$500$1mBusiness 12-17 Month Relationship CD
0.03%$500-18-23 Month Relationship CD
0.03%$500-Business 18-23 Month Relationship CD
0.03%$500-6-11 Month Relationship CD
0.03%$500-Business 6-11 Month Relationship CD
0.01%$2.5k-0 Month Relationship CD
0.01%$2.5k$1mBusiness 0 Month Relationship CD
0.01%$2.5k-1-2 Month Relationship CD
0.01%$2.5k-Business 1-2 Month Relationship CD
0.01%$500-3-5 Month Relationship CD
0.01%$500-Business 3-5 Month Relationship CD

Regions Bank IRA Rates

0.31%$250-18 Month Variable IRA
0.05%$250-60-72 Month IRA
0.05%$250-48-59 Month IRA
0.05%$250-36-47 Month IRA
0.05%$250-24-35 Month IRA
0.03%$250-12-17 Month IRA
0.03%$250-18-23 Month IRA
0.03%$500-6-11 Month IRA


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