Rebuilding. Recovering. Together. Regions Bank and the Regions Foundation Help Communities Impacted by Hurricane Ian

Rhea-AI Summary

Regions Bank announced new financial services and a $225,000 grant from the Regions Foundation to support Hurricane Ian recovery efforts. Allocations include $100,000 to the American Red Cross and $50,000 to the United Way of Lee County. Regions is providing tailored disaster-recovery services such as waived fees on ATM transactions for impacted customers, payment deferrals on loans, and reduced interest rates on new loans. Most of Regions' 234 branches in Florida are operational, aiding local recovery.

Positive

• Regions Foundation committed $225,000 for disaster relief.
• $100,000 allocated to American Red Cross for emergency services.
• Waived fees for ATM use in affected areas for 14 days.
• Interest rate discounts of 0.50% on new loans offered.

Negative

• None.

Regions Bank and the nonprofit Regions Foundation stand in support of communities recovering from Ian’s impacts.

FORT MYERS, Fla.--(BUSINESS WIRE)-- Regions Bank on Tuesday announced a series of financial services to help people and businesses impacted by Hurricane Ian. In addition, the Regions Foundation, a nonprofit initiative funded primarily by Regions Bank, announced a commitment of $225,000 in grant funding for organizations providing disaster relief.

Community Recovery:

The $225,000 total in grant funding from the Regions Foundation will be divided among several agencies meeting short- and long-term needs throughout the Florida Peninsula. From the $225,000 total, specific allocations will include:

• $100,000 for the American Red Cross, which is providing disaster relief services across Florida;
• $50,000 for United Way of Lee County, which has created the Southwest Florida Emergency Relief Fund to support local nonprofits and neighborhoods experiencing the most immediate needs;
• $35,000 for Collier Comes Together, a hurricane disaster relief fund of the Collier Community Foundation that is helping Southwest Florida residents recover;
• $10,000 for the Harry Chapin Food Bank’s Fort Myers Distribution Center;
• $10,000 for the Harry Chapin Food Bank’s Collier County Center;
• $10,000 for Feeding Tampa Bay, which brings emergency food distributions to areas that need them most across the 10-county Tampa Bay region;
• and $10,000 for Second Harvest Food Bank of Central Florida, which serves Orlando and surrounding communities.

“As soon as the storm cleared, nonprofits and relief organizations were on-site delivering emergency resources to hard-hit communities. We are honored to support their important work,” said Marta Mendes-Miguel Self, executive director of the Regions Foundation. “We also encourage people and businesses who are in a position to donate to consider how they can join us in supporting agencies that are on the front lines of hurricane response.”

Special Bank Services:

Disaster-recovery financial services offered by Regions Bank were developed with urgency and went into effect September 30; the services are specifically designed for people and businesses in impacted areas.¹ Services available for a limited time include:

• Regions Mortgage Disaster Relief Purchase and Renovation loan programs are available.
• Regions fees will be waived when Regions customers use other banks’ ATMs in the impacted areas for a 14-day period effective September 30. (Note: Fees charged by other banks or ATM owners may still apply.)
• No check-cashing fees will be charged for FEMA-issued checks when cashed in a Regions branch.²
• Payment deferrals for credit card holders may be available based on individual circumstances.³
• Personal and business loan payment assistance may be available based on individual circumstances.³
• Business loan payment deferrals of up to 90 days may be available based on individual circumstances.³
• One penalty-free CD withdrawal is available upon request (unless within seven days of issuance or renewal).
• An interest rate discount of 0.50% is available for a limited time on new personal unsecured loans when customers apply in a branch or by phone.⁴
• An interest rate discount of 0.50% on standard rates is available for a limited time for new business loans or lines of credit of up to $1 million to help with recovery needs in impacted areas.⁴
• An interest rate discount of 0.50% is available for a limited time on new unsecured business term loans of up to $50,000 with up to 36-month terms, including waived origination and loan document fees, as well as options for the first payments to be deferred by up to 90 days.⁴
• Check www.regions.com/HurricaneIan for an updated list of areas where these offers are available as damage assessments continue.

“These are communities where our teams live and work – and our local teams are backed by the strength and resources of the entire Regions Bank organization as we support the recovery from Hurricane Ian,” said Steve Nivet, Consumer Banking regional executive for Regions Bank. “Regions Bank has a proud history of helping our neighbors through difficult times, and we will be here in the days, weeks and months to come as we recover from the storm – together.”

The vast majority of Regions’ 234 bank branches serving the Florida Peninsula are back open and serving customers. The branch network suffered comparatively little damage overall and is well positioned to meet customers’ needs as the recovery moves forward. In addition, banking services remain available around the clock through Regions.com, the Regions Mobile App, and other Regions branch locations across Florida and beyond. Services are also available by calling 1-800-REGIONS.

Here for You:

In addition to the above disaster-recovery services, Regions Bank teams can be contacted at the following numbers for customized guidance on a range of lending products, including:

• Mortgages, home equity loans and lines: 1-800-748-9498
• Other consumer loans: 1-866-298-1113
• Any other banking needs: 1-800-411-9393

“Across our company, we are united in a clear commitment to serve and support our customers,” said Earnest Wilks, Regions Bank’s market executive for Ft. Myers, Cape Coral, Sarasota, Bradenton and surrounding communities. “This is our home. These are our neighbors. And we are here to offer financial solutions, along with understanding and compassion, every step of the way.”

Business Support:

Regions Bank’s support for business clients includes companies of various sizes in cities large and small. Just as the bank delivers customized financial guidance for individual consumers, so, too, will Regions’ teams support business clients through all aspects of recovery.

“Our clients include businesses large and small that are crucial to the short-term and long-term recovery, and we will be here to serve them along the way,” said Brian Willman, head of Commercial Banking for Regions Bank. “Regions’ teams are experienced at helping businesses address challenges and move forward. We are keeping in touch with clients to see how we may assist, and we encourage anyone needing financial guidance through the recovery process to let us know how we can help.”

About Regions Foundation

Regions Foundation supports community investments that positively impact the communities served by Regions Bank. The Foundation engages in a grantmaking program focused on priorities including economic and community development; education and workforce readiness; and financial wellness. The Foundation is a nonprofit 501(c)(3) corporation funded primarily through contributions from Regions Bank.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $161 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

¹Offers are available for a limited time to individuals and businesses affected by Hurricane Ian and remnants of the storm in the following ZIP codes; the current list of 525 ZIP codes may be expanded as additional impacts from the remnants of Ian are experienced and further damage assessments are concluded. Offers may be subject to other exclusions and restrictions and are subject to change or termination without notice. All loans and lines, deferrals, extensions or forbearances are subject to required documentation and credit approval. Residency restrictions may apply. Special interest rates determined by applicant’s credit profile may not extend to products offered by third parties, such as Avant. Initially, impacted ZIP codes in Regions’ retail banking footprint include the following list, which is subject to expansion: 32701, 32704, 32707 - 32710, 32712 - 32716, 32718, 32719, 32725, 32728, 32730, 32732, 32733, 32738, 32739, 32744 - 32747, 32750 - 32754, 32762 - 32766, 32771 - 32773, 32776, 32779, 32789 - 32795, 32799, 32801 - 32812, 32814, 32816, 32817, 32820, 32822, 32824 - 32829, 32831 - 32834, 32839, 32853 - 32862, 32867 - 32869, 32872, 32877, 32878, 32885, 32886, 32891, 32896, 32897, 33857, 33867, 34739, 34743, 34744, 34769 - 34773, 32703, 32757, 32768, 32777, 32798, 32818, 32819, 32821, 32830, 32835 - 32837, 32887, 33503, 33508 - 33511, 33523 - 33527, 33530, 33534, 33537, 33539 - 33545, 33547 - 33550, 33556, 33558, 33559, 33563 - 33576, 33578, 33579, 33583, 33584, 33586, 33587, 33592 - 33596, 33598, 33601 - 33626, 33629 - 33631, 33633 - 33635, 33637, 33646, 33647, 33650, 33655, 33660, 33664, 33672 - 33675, 33677, 33679, 33680 - 33682, 33684 - 33689, 33694, 33701 - 33716, 33729 - 33734, 33736, 33738, 33740 - 33744, 33747, 33759, 33760, 33762, 33764, 33771 - 33773, 33777, 33780 - 33782, 33784, 33801 - 33807, 33809 - 33813, 33815, 33820, 33823, 33825 - 33827, 33830, 33831, 33834 - 33841, 33843 - 33856, 33858 - 33860, 33862, 33863, 33865, 33868, 33870 - 33873, 33875 - 33877, 33880 - 33885, 33888, 33890, 33896 - 33898, 33901 - 33922, 33924, 33927 - 33932, 33935, 33936, 33938, 33945 - 33957, 33960, 33965 - 33967, 33970 - 33976, 33980 - 33983, 33990, 33991, 33993, 33994, 34101 - 34110, 34112 - 34114, 34116, 34117, 34119, 34120, 34133 - 34136, 34140, 34142, 34143, 34145, 34146, 34201 - 34212, 34215 - 34224, 34228 - 34243, 34249 - 34251, 34260, 34264 - 34270, 34272, 34274 - 34277, 34280 - 34282, 34284 - 34293, 34295, 34638, 34639, 34695, 34705, 34711 - 34715, 34729, 34734, 34736, 34737, 34740, 34742, 34745 - 34747, 34753, 34755, 34756, 34758 - 34761, 34777, 34778, 34786, 34787, 32158, 32159, 32162, 32163, 32195, 32726, 32727, 32735, 32756, 32778, 33471, 33513, 33514, 33521, 33538, 33585, 33597, 33755 - 33758, 33761, 33763, 33765 - 33767, 33769, 33770, 33774 - 33776, 33778, 33779, 33785, 33786, 33944, 34137 - 34139, 34141, 34423, 34428 - 34434, 34436, 34441, 34442, 34445 - 34453, 34460, 34461, 34464, 34465, 34481, 34484, 34487, 34491, 34498, 34601 - 34611, 34613, 34614, 34636, 34637, 34652 - 34656, 34660, 34661, 34667 - 34669, 34673, 34674, 34677, 34679 - 34685, 34688 - 34692, 34697, 34698, 34731, 34748, 34749, 34762, 34785, 34788, 34789, 34797.

²The FEMA check no-check-cashing-fee offer is available only to Regions customers; if you are not a Regions customer, you must enroll in Regions Now Banking. No checking account is required to enroll in Now Banking. Regions reserves the right to refuse to cash any check.

³Subject to credit approval. Interest will continue to accrue during the period that the payment is skipped or deferred. For installment loans, deferring or skipping payment may extend the maturity of your loan but will not automatically extend any optional insurance. Forbearances, skipped payments, and deferrals generally (a) vary by customer, (b) postpone – rather than forgive – certain payment obligations, and (c) require payment in full of the postponed payments at the end of the forbearance or deferral period, in addition to any other amounts that come due, unless you make other arrangements with Regions to resolve the delinquency.

⁴New business loan and personal unsecured loan rate discounts may not be combined with other special offers or discounts. Interest will accrue during the optional 90-day payment deferral period for unsecured business loans if elected.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221004005489/en/

Veleka P. Finch

Regions Bank

(205) 264-4551

Regions News Online: regions.doingmoretoday.com

Regions News on Twitter: @RegionsNews

Source: Regions

FAQ

What financial assistance is Regions Bank offering for Hurricane Ian recovery?

Regions Bank is offering disaster-recovery financial services, including waived ATM fees, payment deferrals, and interest rate discounts on new loans.

How much grant funding is Regions Foundation providing for disaster relief?

Regions Foundation has committed $225,000 in grant funding for various organizations assisting with Hurricane Ian recovery.

What organizations are receiving funding from Regions Foundation for Hurricane Ian relief?

Funding includes $100,000 to the American Red Cross and $50,000 to the United Way of Lee County, among others.

What special banking services does Regions Bank provide for affected customers?

Regions Bank offers services like payment assistance, fee waivers, and loans for recovery needs for customers affected by Hurricane Ian.

Is Regions Bank open after Hurricane Ian?

Yes, the majority of Regions' 234 branches serving the Florida Peninsula are operational and ready to assist customers.