Regions Consolidates South, East Banking Markets

    Business Editors

    BIRMINGHAM, Ala.--(BUSINESS WIRE)--Feb. 10, 2005--Regions Financial Corporation (NYSE:RF) has consolidated its East and South banking markets under the leadership of Peter D. "Pete" Miller.
    Miller, who has served as the Regions East CEO for more than eight years, will serve as the new Regions Southeast CEO and oversee a geographic market that includes Georgia, North Carolina, South Carolina, East Tennessee, and the Central and South Florida markets. The Florida markets included in the consolidation were under the former leadership of Adolfo Henriques, who had served as the Regions South CEO since July 2004. Henriques has been named chief executive officer of Florida East Coast Industries (NYSE:FLA), a St. Augustine, Fla.,-based company in the real estate development and freight railroad industries.
    "We are fortunate to have a strong and veteran executive leader in Pete Miller oversee these important markets for us," said Regions President Jackson W. Moore, who is also slated to assume the position of CEO for the company effective July 1. (Current Regions Chairman and CEO Carl E. Jones Jr. will remain as chairman.) "At the same time, we also want to express our thanks to Adolfo for his service and contributions over the years to Regions and legacy Union Planters.
    "We wish him well in his new position," Moore said.
    Miller, 58, began his banking career in 1972 as a bank examiner with the Georgia Department of Banking and Finance. He joined First National Bancorp in Gainesville, Ga., in 1977 in the trust and investments area, eventually becoming president and chief administrative officer in 1992. He became a regional CEO for Regions when the company acquired First National in 1996.

    About Regions Financial Corporation

    Regions Financial Corporation (NYSE:RF), headquartered in Birmingham, Ala., is a full-service provider of retail and commercial banking, securities brokerage, mortgage, and insurance products and services. With its merger with former Union Planters Corp. complete, Regions had assets of $84.1 billion as of Dec. 31, 2004, making it one of the nation's Top 15 financial services providers. Regions' banking subsidiaries, Regions Bank and Union Planters Bank, operate some 1,400 offices and a 1,700-ATM network across a 15-state geographic footprint in the South, Midwest and Texas. Its investment and securities brokerage, trust and asset management division, Morgan Keegan & Company Inc., provides services from more than 145 offices. Additional information about the new Regions, which is a member of both the Forbes and Fortune 500 and operates one of the Top 20 mortgage companies in the United States, can be found at www.regions.com.

--30--SH/na*

CONTACT: Regions Financial Corporation, Birmingham Investor Relations Contact: Jenifer M. Goforth, 205-244-2823 jenifer.goforth@regions.com or Media Relations Contacts: Kristi Lamont Ellis, 205-326-7179 kristi.ellis@regions.com

KEYWORD: ALABAMA TENNESSEE SOUTH CAROLINA GEORGIA NORTH CAROLINA FLORIDA INDUSTRY KEYWORD: BANKING MANAGEMENT CHANGES SOURCE: Regions Financial Corporation

Copyright Business Wire 2005