Regions Financial Corp was formed in 1971 as First Alabama Bancshares Inc., Alabama's first multibank holding company. The company was renamed Regions Financial Corp. in 1994 to reflect its growing presence throughout the South. Its ...merger with Memphis, Tenn-based Union Planters Corp. took place in July 2004. Its merger with AmSouth Bancorporation on November 4, 2006, created a Southeast-based financial powerhouse ranking banks in the nation. It is a financial holding company headquartered in Birmingham, Alabama, which operates in the South, Midwest and Texas. The Company provides traditional commercial, retail and mortgage banking services, as well as other financial services in the fields of asset management, wealth management, securities brokerage, insurance and other specialty financing. It cond...ucts its banking operations through Regions Bank, an Alabama chartered commercial bank that is a member of the Federal Reserve System. The Company operated 2,029 ATMs and 1,705 banking offices in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. The Company operates in three reportable segments; Business Services, Consumer Services and Wealth Management. The Business Services segment represents the Company’s commercial banking functions including commercial and industrial, commercial real estate and investor real estate lending. It also includes equipment lease financing. The Consumer Services segment represents the Company’s branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships. The Wealth Management segment offers individuals, businesses, governmental institutions and non-profit entities in a range of solutions to help protect, grow and transfer wealth. Its subsidiaries compete with other financial institutions located in the states in which it operate and other adjoining states, as well as large banks in financial centers and other financial intermediaries, such as savings and loan associations, credit unions, Internet banks, finance companies, mutual funds, insurance companies, brokerage and investment banking firms, mortgage companies and financial service operations of commercial and retail corporations. The Company is subject to extensive state and federal regulation, supervision and examination governing almost all aspects of its operations, which limits the businesses in which the Company permissibly engage.