Regions Bank Ranks Among Top SBA 504 lenders to Small Businesses in 2010

BIRMINGHAM, Ala.--(BUSINESS WIRE)-- According to data recently released by the U.S. Small Business Administration (SBA), Regions Bank(NYSE:RF) now ranks among the top five banks in the nation as measured by SBA 504 loan approval dollar volume for fiscal year 2010.

Year-over-year, Regions increased the number of SBA 504 loans approved by 32 percent and increased the dollar volume of approvals by 50 percent. Regions is a member of the SBA's Preferred Lender Program and was ranked the No. 1 SBA 504 lender by volume in both Alabama and Florida for fiscal year 2010.

The SBA 504 loan program supports economic development within a community by providing small businesses with long-term, fixed-rate financing to acquire assets for expansion or modernization. SBA 504 loans are guaranteed by the U.S. Small Business Administration with at least ten percent of equity contributed by the borrower, up to 50 percent secured from a private lender, and the remainder provided by a Certified Development Company (CDC) -- a private, nonprofit corporation set up to contribute to the economic development of its community.

“At Regions we understand the crucial role that small businesses play in our communities and the SBA 504 program is an excellent example of how financial institutions, nonprofits and government can work together to spur economic growth,” said Lynetta Tipton Steed, head of Business and Community Banking. “As one of the largest banks serving small businesses in the country, Regions has the resources and expertise to meet the unique needs of small business owners and this ranking demonstrates our continued commitment to helping small businesses succeed.”

As part of the company’s efforts to increase lending to small businesses, Regions recently appointed a government guaranty lending manager to oversee government lending across the 16 states Regions serves, including programs available through the SBA, the Farmers Home Administration (FmHA), and the U.S. Department of Agriculture (USDA).

Regions has a long track record of providing capital to small businesses along with solutions to help small business owners manage their financial needs through all economic cycles.

• Regions made $1.9 billion in new or renewed loan commitments to small businesses during the third quarter of 2010.
• To ensure no opportunity for business growth is overlooked, any declined small business loan application is reviewed through Regions' Second Review Process.
• The U.S. Small Business Administration, in its 2009 annual small business lending survey ranked Regions the No. 3 small business lender in the country.
• Regions tied for fourth place among national banks in the J.D. Power and Associates’ 2010 Annual Small Business Banking Customers satisfaction survey.
• Greenwich and Associates, the premier commercial banking market research firm, recognized Regions as the only major bank in its footprint to increase small business market share during 2009.

About Regions Financial Corporation

Regions Financial Corporation, with $133 billion in assets, is a member of the S&P 100 Index and one of the nation's largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,800 banking offices and 2,200 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at regions.com.

Regions Financial CorporationEvelyn Mitchell, 205-264-4551

Source: Regions Financial Corporation