The trend only continued in 2021. Read more. It also has a big presence in the Southeast, where many of the states have growing populations and more of a business-friendly atmosphere. The bank that I think is likely in the best position to purchase HSBC, KeyCorp, or Regions is U.S. Bancorp (USB -0.34%), which currently trades for around 212% of tangible book value. The S&P Global Market report points out: "JPMorgan Chase & Co. opened the most branches in 2021 with 169 new locations, significantly outpacing the 53 openings for the No. Are Not a Condition of Any Banking Activity, Are Not Insured by Any Federal Government Entity, Are Not Insured by Any Federal Government Agency. U.S. banks closed a total of 3,324 branches in 2020, while opening just 1,040, according to S&P Global Market Intelligence. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated 4/4/2023), Privacy Policy and Cookie Statement, and Your Privacy Choices and Rights (each updated 1/26/2023). Customers of the Regions Bank branch at 112 East Bankhead Street in New Albany are breathing easier after the branch re-opened a week ago, Monday, July 13. sharing sensitive information, make sure youre on a federal If you need to visit a branch in person, Regions Bank has more than 1,200 locations across 16 states. Mayor Holland says it's actually been an improvement. The result was a record of 2,284 net closings in one year. The site that you are entering is operated or controlled by a third party that is The Federal Deposit Insurance Corporation (FDIC) is an A recent NPR story highlighted the number of bank branch closures in 2020, and raised the ominous specter of bank deserts popping up across the country, especially in lower-income, rural and at-risk communities. Regions, the Regions logo, the LifeGreen color, and the We waited a few minutes and dialed it again. privacy and security policies and procedures. United States, Copyright 2023, Georgia Public Broadcasting. We identified ourselves and told the woman we had readers, also Regions customers, who were anxious to know why the New Albany Regions Bank had suddenly and completely closed. my father just died in Dec of . All rights reserved (About Us). Workers from others of the 1,454 Regions branches would keep open a branch in which an employee has possibly been exposed to coronavirus. It's part of a years-long trend toward online banking. 2022 Regions Bank. Regions, the Regions logo, the LifeGreen color, and the Many banking services - such as balance inquiries, transferring funds between accounts and paying bills - are also available through our TeleBanking Center at . To discuss solutions for your unique business situation, contact your Relationship Manager or Treasury Management Officer directly. It is with this shifting customer profile in mind that Regions Bank has set about overhauling the design of its branches. And when there's no convenient bank nearby, people often have to turn to more expensive options, like check cashing stores and payday lenders. whatsoever for or control over the content, services or products provided on the linked website. privacy and security policies and procedures. Download Regions Financial to Announce Fourth Quarter and Full Year 2021 Financial Results on Jan. 20, 2022 - PDF, opens in a new window. SCOTT HORSLEY, BYLINE: Moorhead, Miss., is a town of under 2,000 people in the heart of the Delta. With that in mind, I took a look at three of the largest potential acquisition targets that I think still have some chance of happening, and that would seriously shake up the regional banking scene. Regions is committed to helping you navigate the economic environment brought about by the coronavirus (COVID-19) crisis. In 1994, the company changed its name to Regions Financial Corporation to reflect its growth. Also, a mortgage assistance application is available at this link on Regions.com. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. You should consult privacy disclosures at the linked website for further The Broad Street Selma branch, located at 2412 Broad Street in Selma, The Cloverdale branch, located at 416 Cloverdale Road in Montgomery, The Lenlock branch, located at 5510 McClellan Blvd. We were unable to find a local phone number from any Regions source. Those branches are: "We had a number of consolidations in the 2016 and opened relatively few branches in 2016," CEO Grayson Hall said on the call. If youre having difficulty making payments on your small business credit cards, call 1-866-298-1113. whatsoever for or control over the content, services or products provided on the linked website. Banks across the country shuttered a record 2,927 branches in 2021, according to an S&P Global Market Intelligence report published Thursday. The furthest is five miles, it said. On weekdays, Monday through Friday, and on Saturday, Regions Bank opens up at 9 a.m. Regions Bank: Closes at 4 p.m. Closed: Union Bank: Regular hours: Closed: BMO Harris Bank: . not be used to update any customer records, and this information will According to reliable and publicly available information, Regions Bank is financially solid and there is no known danger of its failing. It is also reported that Wells Fargo shutdown 91, J.P. Morgan Chase & Co. closed 32, as did PNC Financial Services Group Inc., and South State Corp. with 19. important initiatives, and more. With so much of the financial industry being taken online these days, it's easy to think that the days of brick and mortar banking sector are numbered. The Regions Mortgage Payment Assistance team can be reached at 1-800-748-9498. Not only that, but the bulk of its fee income is from more sustainable streams of fee income such as investment banking, trust and investment services, and cards and payments income. Invest better with The Motley Fool. We asked her why the Bankhead Street Regions Bank was closed. But people who need a local physical branch may find nothing. Acquiring Institution AI. KeyCorp recently traded at roughly 155% tangible book value. Brian Wallace said he had been the branch manager at the Bankhead Street Regions branch for six years. LifeGreen bike are registered trademarks of Regions Bank. Institution Letters, Policy And bank branch closures are especially affecting isolated neighborhoods in big cities or towns like Moorhead a largely African American community in the heart of the Mississippi Delta. HOLLAND: I can't say enough about what that meant to us - to be able to bank right here in our town, to be able to have all of these resources right here in our town without having to travel. City City. unaffiliated with Regions. She said she would try to find out, and put us on hold for a few minutes. Having a superior valuation like U.S. Bancorp is crucial in a bank deal because it makes the financials and eventual returns -- especially in any sort of all-stock deal --- much more appealing to investors. A decline in the number of banks and credit institutions in the country has. stability and public confidence in the nations financial FDIC Extends Bid Window For Silicon Valley Bridge Bank, N.A. Three locations will close during the fourth quarter, while the remainder will close on or about Jan. 22, 2021, the bank said . Community Rules apply to all content you upload or otherwise submit to this site. What to look out for: Although Regions has a plethora of locations across the Southeast, there are no branches in Virginia, West Virginia, or Washington DC. HORSLEY: Moorhead, Miss., got lucky. system. Regions donated the branch building to Hope Credit Union, and provided funding for transition costs. Regions is the fifth-largest bank in metro Orlando, with more than $2.59 billion in local deposits and 33 local branches. Regions Bank Holidays About Regions Wondering if the bank is open or closed on an upcoming holidays? privacy disclosures at the linked website for further information. It said: This night depository is temporarily closed. Signature Bank: New York: NY: 57053: Flagstar Bank, N.A . The Motley Fool has a disclosure policy. The branches slated for closure can be found at this PDF. Regions does not monitor the linked website and has no responsibility A focus on innovative technology and exceptional customer experiences has had to be established alongside the usual services one would expect at a branch. "They don't have a lot of choices. The .gov means its official. Virgin Money has announced it will close 31 branches - almost all in Scotland and the north of England - in the latest stage of the UK banking . ". The site is secure. Cultural District Sales & Use Tax Exemptions, Shreveport / Caddo Unified Development Code, Downtown Shreveport Development Corporation, Leonidas Polk Spreads Episcopalianism in Louisiana. On the heels of Capital One Bank announcing the closure of two branches (including downtown) in April, Regions Bank is also announcing they intend to move the services of the downtown branch to Line Avenue as of May 21. "We are down 28 percent, which is really more than anybody else in the industry," John Owen, head of the Regional Banking Group, said according to a transcript published by the website Seeking Alpha. Those include: Citizens National Bank (330 Marshall Street in the Beaird Building), Origin Bank (308 Market Street), Bancorp South (418 Travis Street in Mid South Tower), Iberia Bank (301 Texas Street), Business First Bank (800 North Spring Street), Community Bank of Louisiana (400 Travis in the Beck Building), Home Federal Bank (624 Market Street) Red River Bank (601 Market Street) and the Barksdale Federal Credit Union (519 Market Street). Just as some places are food deserts, neighborhoods with no groceries, NPR's Scott Horsley reports on the risk of bank deserts. Regions provides links to other websites merely and strictly for your The Region Financial Corporation was founded in 1971 after three Alabama-based banks merged into First Alabama Bancshares. We were finally able to get a number which worked. Investment, Insurance, and Annuities Products, Investments, Annuities and Insurance Products, Natural Resources & Real Estate Management. And he worries about what that does to neighborhoods and towns like his. The Regions drive-through facilities, like those of other area banks, had been open during regular hours throughout the pandemic. To meet with a Regions banker in person, make an appointment or stop by a branch. Mark Kauzlarich/Bloomberg via Getty Images As of January 2023,. As of first-quarter 2021, the bank has 289 branches in Florida,. Date. KeyCorp CEO Christopher Gorman said the Cleveland-based bank is . 'S part of a years-long trend toward online banking the economic environment brought about the! If the Bank is open or closed on an upcoming Holidays Regions is committed to helping you navigate economic! A town of under 2,000 people in the heart of the 1,454 Regions branches would keep open a branch 155... 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