Regions Financial Corp. - RF STOCK NEWS

Regions Bank and the Regions Foundation announced support for communities in the South and Midwest following devastating tornadoes that occurred on March 31. The foundation allocated $60,000 in grants to aid recovery efforts through nonprofits like the American Red Cross, which received $30,000, and other organizations focused on shelter and childcare. Regions Bank is engaging in volunteer activities and offering disaster-recovery financial services to assist affected consumers and businesses. Key financial services include waiving ATM fees for a week and providing loan payment assistance. Regions Bank is committed to the well-being of the communities it serves during these challenging times.

Regions Bank has announced the launch of the Birmingham Black-Owned Business Initiative, aimed at fostering the growth of Black-owned businesses in Birmingham, Alabama. Led by Kendra Key, Senior Vice President in the Community Affairs division, the initiative will provide essential resources and support to entrepreneurs, focusing on underserved neighborhoods. Key priorities include identifying current resources, addressing access gaps, and facilitating collaboration among community partners. Notably, a Brookings Institution study revealed Birmingham has the lowest rate of Black business ownership among major U.S. metro areas. This initiative is a response to that need, striving to create a thriving ecosystem for Black entrepreneurs.

Orion180 has successfully secured a $42.5 million senior secured credit facility, led by Regions Bank, aimed at enhancing its capital base for two insurance carriers: Orion180 Insurance Co. and Orion180 Select Insurance Co.. This investment supports underwriting growth and geographic expansion beyond their current operations in the Southeast and Midwest. Orion180 Insurance Co. had $20 million in equity prior to this investment. The company aims to leverage the new capital for competitive pricing and expanded service offerings in an increasingly challenging insurance market, where many competitors are scaling back.

Regions Bank has launched a year-round, no-cost financial wellness program called Regions Next Step to assist consumers and businesses in managing their finances. Highlighting April as Financial Literacy Month, the program provides tools for budgeting, saving, and debt reduction, available to anyone regardless of bank affiliation. Recent surveys revealed that only 35% of Americans believe they will save enough for retirement, while 60% do not maintain a budget. The program aims to enhance financial knowledge and wellness, offering resources such as budgeting calculators and financial education workshops.

Regions Bank has launched its 14th annual 'Share the Good' outreach program aimed at enhancing community engagement throughout April. Teams of volunteers will participate in various activities, including cleaning up the Cahaba River and supporting educational initiatives in schools. In 2022, Regions associates contributed 74,000 hours of volunteer service. The program aligns with Regions' commitment to volunteering, offering associates paid time off for community service. Regions Financial Corporation, with $155 billion in assets, serves customers across the South and Midwest, operating over 1,250 banking offices.

Regions Foundation and Jefferson State Community College launched a Student Success Center to provide no-cost resources for students, funded by a $500,000 grant from the Regions Foundation. The center offers various services, including emergency grants, financial counseling, food pantry access, mental health support, and personalized peer assistance. Jefferson State aims to support students who face challenges in completing their education. This initiative underscores the foundation's commitment to education, workforce readiness, and economic development, with services available at multiple campuses and online.

Regions Bank and its Regions Foundation announced support measures in response to severe storms and tornadoes in Southern states starting March 24. Key initiatives include $60,000 in grants to disaster-relief agencies and tailored financial services for affected consumers and businesses. The foundation allocated $50,000 for the American Red Cross and $10,000 to the Mississippi Food Network. Regions Bank will offer disaster-recovery financial services such as waived fees and loan assistance. The response aims to support impacted communities and individuals during this challenging period.

Regions Bank emphasizes its commitment to community support through financial education initiatives at Community First! Village in Austin, Texas. A recent open mic night highlighted the relationship between bank associate Myke Roeschlein and resident Jeff Vestal, a Navy veteran who overcame years of homelessness. Their friendship underscores the importance of vulnerability and education in transforming lives. Regions Bank also donated bicycles and contributed during the "Thank You Forward" campaign, showcasing its dedication to alleviating homelessness. The partnership aims to dispel myths surrounding homelessness and foster a supportive community.