Regions Financl Stock Price, News & Analysis

Regions Bank has announced the second quarter winners of its 2024 Regions Riding Forward® Scholarship Contest. Four students will each receive an $8,000 scholarship for their designated accredited college. The contest, revamped in 2024, now runs quarterly, inviting high school and college students to submit video or written essays about someone in their community who has inspired them.

The second quarter winners are:

• Erin Petersen from Bradenton, Fla.
• Micah Wagner from Norcross, Ga.
• Algieria Thomas from Miami, Fla.
• Tyler Patterson from Columbus, Ga.

Each quarterly contest awards four scholarships: two for written essays and two for video essays. Students can submit entries in each quarterly contest. Over the past 12 years, the Regions Riding Forward Scholarship contest has awarded over $1.4 million to more than 400 students.

The Regions Foundation has announced a $150,000 grant to support STRIVE Birmingham, an organization providing education and workforce development opportunities. Launched in 2023, STRIVE Birmingham follows a nationally recognized model offering job training and wraparound services. The program focuses on mindset, accountability, personal responsibility, workplace ethics, professional etiquette, and interpersonal skills.

STRIVE's Healthcare & Office Operations program prepares students for careers in the local healthcare industry with opportunities for advancement. The grant was presented during one of STRIVE's first graduation events. The Regions Foundation, primarily funded by Regions Bank, supports various education, workforce development, economic and community development, and financial wellness initiatives.

Regions Bank has announced a series of disaster-recovery financial services to assist people and businesses affected by Hurricane Milton in Florida. These services include:

• Waived ATM surcharges for non-customers and fees for Regions customers using other banks' ATMs in impacted areas until October 23
• Mortgage Disaster Relief Purchase and Renovation loan programs
• Removal of check-cashing fees for FEMA-issued checks
• Personal and business loan payment assistance
• Credit card payment deferrals
• Business loan payment deferrals of up to 90 days
• Penalty-free CD withdrawal
• Interest rate discounts on various new loans and lines of credit

The bank has also set up dedicated contact centers for customer support and is assessing branch operations in affected areas. The Regions Foundation is expected to announce grant funding for organizations providing disaster relief in the coming days.

Regions Affordable Housing celebrates the grand opening of The Pearl Apartments in Jackson, Mississippi, an innovative approach to affordable senior housing. The project, a collaboration between Pearl Street Community Development and Gulf Coast Housing Partnership (GCHP), transformed the former Jackson Southwest Hotel into 76 one- and two-bedroom apartments for income-restricted individuals primarily ages 55 and over.

The Pearl is a GCHP Health + Housing Community, offering residents access to an onsite community health center and a community health worker. The Regions Foundation provided $500,000 for GCHP Health + Housing projects across the Gulf Coast, while Regions Affordable Housing supported the redevelopment project. The development addresses multiple challenges, including blight reduction, affordable housing creation, and providing health services for seniors.

Regions Bank and the Regions Foundation have launched a comprehensive community response to support areas impacted by Hurricane Helene. The initiative includes:

• $150,000 in initial grant funding from the Regions Foundation for disaster relief organizations
• Volunteerism by bank associates to support first responders
• Special disaster-recovery financial services for affected individuals and businesses

The grant funding will be distributed among several agencies, including $100,000 to the American Red Cross. Regions Bank is offering various financial services, such as waived ATM fees, mortgage disaster relief programs, and loan payment assistance. These services are available in impacted areas from October 1, with potential expansion based on FEMA declarations.

Leroy Abrahams, Regions Bank's head of Community Engagement, is serving as the 2024 Campaign Chair for United Way of Central Alabama. In an interview, Abrahams discusses his role and the importance of supporting United Way campaigns. He highlights United Way's holistic approach to addressing community needs, including education, housing stability, food security, and health services.

Abrahams emphasizes the value of experiencing United Way firsthand through volunteering or serving on Visiting Allocation teams. He notes that Regions Bank has a culture of giving and is consistently one of the top United Way donor companies. The interview also touches on how United Way's priorities align with Regions' Community Engagement focus areas of economic development, education, workforce readiness, and financial wellness.

Regions Bank and the Regions Foundation have launched a comprehensive response to support communities impacted by Hurricane Helene. The initiative includes:

• $150,000 in initial grant funding from the Regions Foundation for disaster relief organizations
• Special disaster-recovery financial services for affected individuals and businesses
• Volunteerism by bank associates to support first responders

The grant funding will be distributed among several agencies, including $100,000 to the American Red Cross and smaller amounts to local organizations in Florida, Georgia, and Tennessee. Regions Bank is offering various financial services, including ATM fee waivers, loan payment assistance, and special interest rate discounts on new loans for recovery needs. These services are available in impacted areas and may be expanded based on FEMA declarations.

Kate Danella, head of Regions Bank's Consumer Banking Group, has been honored as one of the '25 Most Powerful Women in Banking' by American Banker magazine for the third consecutive year. This recognition marks her sixth consecutive year of accolades from the publication. Danella's leadership has been instrumental in implementing customer-centric innovations such as Regions Greenprint® plans, Regions Early Pay, and Regions Overdraft Grace.

John Turner, President and CEO of Regions Financial Corp, praised Danella's commitment to providing personalized financial solutions and her role in enhancing customer experiences. Under her guidance, Regions Bank has streamlined business checking offerings and improved account options. These efforts have contributed to Regions earning a top reputation in the banking industry, as evidenced by its recent inclusion in American Banker's Top 20 Banks By Reputation list.

Regions Bank (NYSE: RF) has announced a reduction in its prime lending rate from 8.50% to 8.00%. This change will take effect on Thursday, September 19, 2024. The prime lending rate is a key benchmark used by banks to set interest rates for various types of loans, including mortgages, personal loans, and business loans.

This decrease in the prime rate could potentially lead to lower borrowing costs for Regions Bank customers, which may stimulate lending activity and economic growth in the areas served by the bank. However, it's important to note that a lower prime rate could also impact the bank's interest income.