The team’s effort has since evolved into a broader focus statewide, and additional teams throughout the Regions footprint are constantly evolving how the bank protects customers. Of these regions, PNC had existing branches only in Florida and the acquisition filled a gap in PNC's market footprint between northern Virginia and central Florida, adding about 900,000 customers and 483 ATM locations.
The company provides retail banking and commercial banking, trust, stockbrokerage, and mortgage services.Its banking subsidiary, Regions Bank, operates 1,952 automated teller machines and 1,454 branches in 16 states in the Southern United States and Midwestern United … With $5.6 billion in cash on the balance sheet, PNC’s management could be looking to increase its presence by acquiring one of its smaller peers. Regions Bank is one of the popular US banks and financial services company that has its headquarters in Birmingham.
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Smaller banks choose to focus on only the one state or states they are strongest in. Regions Financial Corporation (NYSE:RF), with $129 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.
Often, a bank’s footprint is a function of its size.
Regions -- the 22nd largest bank in the U.S., with about $128 billion in assets under management -- budgeted $625 million for technology, or 11% of 2018 revenue, to make banking easier for customers. Regions Bank operates through about 1,500 offices and 2,000 ATMs in 16 states including Alabama, Arkansas, Florida, …
Pressure on PNC.
Regions Financial Corp. has closed 33 branches across its footprint, including five in Alabama – one of those in Birmingham.
Chadha noted that those products will only continue to grow and improve as Regions expands its footprint.
For equipment industry veteran Bill Fite, the decision to join Regions Equipment Finance Co. (REFCO), a wholly owned subsidiary of Regions Bank, in February as EVP and head of the unit was an easy one. Another bank stock to have on your radar is Pittsburgh’s PNC Bank (NYSE:PNC), which will lose its position as the ninth-largest bank by assets once the BBT/SunTrust deal is final.