Regions Financial (RF) 8-K Regions Reports First Quarter 2008 Earnings

Exhibit 99.2

FINANCIAL SUPPLEMENT TO FIRST QUARTER 2008 EARNINGS RELEASE

Summary

Quarterly earnings of $0.48 per diluted share (GAAP); excluding $0.07 in after-tax merger charges, earnings were $0.55 (non-GAAP - see page 17 for additional details)

• First quarter earnings included several significant, largely offsetting, items: $91.6 million securities sale gain; $62.8 million Visa IPO gain; $28.4 million litigation expense reduction related to the Visa IPO; $42.0 million MSR impairment charge; $65.4 million early debt extinguishment loss; $24.5 million write-down of investments in two Morgan Keegan mutual funds; $181.0 million loan loss provision–$55.2 million above net charge-offs

Non-performing assets, net charge-offs rise as expected

• Total net charge-offs up 8 bps linked-quarter to annualized 53 bps of average loans, driven by the residential homebuilder and home equity portfolios

• Home equity losses rose to annualized 57 bps due to declining home values; remains manageable compared to peers

• Non-performing assets increased to $1,204.4 million, or 1.25% of loans and OREO vs. year-end 2007’s 0.90%

• Residential homebuilder portfolio was the primary driver of non-performing asset growth

• Allowance for credit losses increased to 1.49% of loans at March 31, 2008

Residential homebuilder portfolio exposure declines; workout strategy fully implemented

• The residential homebuilder portfolio declined $1.3 billion, the majority of which relates to paydowns. Partially offsetting this decline was $340 million of additional funding. The total portfolio stands at $6.2 billion as of March 31, 2008

• Includes $1.2 billion of relationships being proactively managed by an experienced Special Assets real estate team

Core fee-based revenue posts strong gain

• Non-interest revenue, excluding securities and Visa gains, up an annualized 11% linked quarter - benefiting from diversification and focused growth initiatives

• Brokerage income remained healthy despite market turmoil

• Commercial credit fee income up $18.7 million, driven by surge in customer derivative transactions

• Insurance fees strong, reflecting the January 2008 purchase of Barksdale Bonding & Insurance and seasonal increases

Spread revenue dips slightly despite modestly improved loan growth

• Average loan growth rose to annualized 4% in first quarter 2008 from fourth quarter 2007’s 2% pace

• Average low-cost deposits declined linked quarter, largely due to run-down in commercial balances - but began to see upturn in March

• Net interest margin dropped 8 bps linked quarter to 3.53%, pressured by a negative funding mix shift and changes in the term structure of interest rates

Better-than-projected cost saves; significantly raising target

• Core operating expenses stable linked quarter despite the first quarter seasonal jump in FICA and benefits costs

• Realized $127 million in first quarter merger cost saves, bringing run-rate to $510 million vs. targeted mid-year $500 million

• Raised cost saves run-rate target to $700 million by year-end 2008—reflects success to date and new initiatives

• In late March, eliminated approximately 700 positions not included in initial cost save estimates

Maintains strong capital position

• Tangible common equity-to-tangible assets increased to 5.90% at March 31, 2008, compared to 5.88% year-end 2007

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 2

Regions Financial Corporation and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

($ amounts in thousands)	3/31/08			12/31/07			9/30/07			6/30/07			3/31/07
Assets:
Cash and due from banks	$	3,061,324		$	3,720,365		$	2,902,340		$	2,796,196		$	2,991,232
Interest-bearing deposits in other banks		47,850			31,706			29,895			73,963			37,365
Federal funds sold and securities purchased under agreements to resell		1,071,806			1,177,170			706,378			1,158,771			1,154,994
Trading account assets		1,299,460			907,300			1,355,007			1,606,130			1,490,374
Securities available for sale		17,766,260			17,318,074			16,957,077			17,414,407			18,361,050
Securities held to maturity		49,790			50,935			49,559			44,452			46,008
Loans held for sale		756,500			720,924			792,142			1,596,425			1,175,650
Margin receivables		616,732			504,614			525,953			590,811			555,580
Loans, net of unearned income		96,385,431			95,378,847			94,373,632			94,014,488			94,168,260
Allowance for loan losses		(1,376,486	)		(1,321,244	)		(1,070,716	)		(1,061,873	)		(1,056,260	)
Net loans		95,008,945			94,057,603			93,302,916			92,952,615			93,112,000
Premises and equipment, net		2,665,813			2,610,851			2,473,339			2,422,256			2,372,800
Interest receivable		550,117			615,711			664,974			626,514			627,918
Excess purchase price		11,510,096			11,491,673			11,453,078			11,243,287			11,191,675
Mortgage servicing rights (MSRs)		268,784			321,308			377,201			400,056			367,222
Other identifiable intangible assets		729,835			759,832			804,328			809,827			914,410
Other assets		8,845,659			6,753,651			5,841,002			3,886,762			3,669,790
Total Assets	$	144,248,971		$	141,041,717		$	138,235,189		$	137,622,472		$	138,068,068
Liabilities and Stockholders’ Equity:
Deposits:
Non-interest-bearing	$	18,182,582		$	18,417,266		$	18,834,856		$	19,136,419		$	19,942,928
Interest-bearing		71,004,827			76,357,702			74,605,074			75,919,972			75,393,720
Total deposits		89,187,409			94,774,968			93,439,930			95,056,391			95,336,648
Borrowed funds:
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase		8,450,346			8,820,235			8,063,739			8,207,250			8,159,929
Other short-term borrowings		8,716,951			2,299,887			1,727,346			1,882,114			2,356,205
Total short-term borrowings		17,167,297			11,120,122			9,791,085			10,089,364			10,516,134
Long-term borrowings		12,357,225			11,324,790			10,817,491			9,287,926			8,593,117
Total borrowed funds		29,524,522			22,444,912			20,608,576			19,377,290			19,109,251
Other liabilities		5,515,119			3,998,808			4,340,334			3,492,404			3,308,003
Total Liabilities		124,227,050			121,218,688			118,388,840			117,926,085			117,753,902
Stockholders’ equity:
Common stock		7,358			7,347			7,346			7,344			7,320
Additional paid-in capital		16,560,302			16,544,651			16,527,540			16,500,425			16,447,358
Retained earnings		4,494,573			4,439,505			4,632,033			4,489,078			4,289,354
Treasury stock		(1,370,761	)		(1,370,761	)		(1,270,922	)		(1,063,779	)		(368,837	)
Accumulated other comprehensive income (loss)		330,449			202,287			(49,648	)		(236,681	)		(61,029	)
Total Stockholders’ Equity		20,021,921			19,823,029			19,846,349			19,696,387			20,314,166
Total Liabilities & SE	$	144,248,971		$	141,041,717		$	138,235,189		$	137,622,472		$	138,068,068

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 3

Regions Financial Corporation and Subsidiaries

Consolidated Statements of Income (4)

(Unaudited)

	Quarter Ended
($ amounts in thousands, except per share data)	3/31/08			12/31/07			9/30/07			6/30/07			3/31/07
Interest income on:
Loans, including fees	$	1,528,883		$	1,674,690		$	1,742,172		$	1,734,278		$	1,773,404
Securities:
Taxable		200,117			202,669			210,932			218,123			224,319
Tax-exempt		9,721			9,361			10,020			10,831			11,048
Total securities		209,838			212,030			220,952			228,954			235,367
Loans held for sale		8,998			10,090			12,302			21,363			48,342
Federal funds sold and securities purchased under agreements to resell		13,533			17,032			18,154			17,162			16,373
Trading account assets		14,153			11,822			10,271			15,785			15,620
Margin receivables		6,783			8,160			8,754			9,289			9,610
Time deposits in other banks		616			344			515			649			1,179
Total interest income		1,782,804			1,934,168			2,013,120			2,027,480			2,099,895
Interest expense on:
Deposits		503,190			625,600			673,585			677,239			687,459
Short-term borrowings		113,008			107,077			115,092			116,637			120,661
Long-term borrowings		149,126			157,279			144,662			128,269			122,737
Total interest expense		765,324			889,956			933,339			922,145			930,857
Net interest income		1,017,480			1,044,212			1,079,781			1,105,335			1,169,038
Provision for loan losses		181,000			358,000			90,000			60,000			47,000
Net interest income after provision for loan losses		836,480			686,212			989,781			1,045,335			1,122,038
Non-interest income:
Service charges on deposit accounts		271,613			292,709			288,296			297,638			284,097
Brokerage and investment banking		229,203			227,808			209,413			207,372			186,195
Trust department income		56,938			60,798			62,449			64,590			63,482
Mortgage income		45,620			28,047			29,806			40,830			37,021
Securities gains (losses), net		91,643			(45	)		23,994			(32,806	)		304
Other		213,286			123,661			115,186			119,177			125,813
Total non-interest income		908,303			732,978			729,144			696,801			696,912
Non-interest expense:
Salaries and employee benefits		643,487			678,859			581,425			602,646			608,939
Net occupancy expense		106,665			106,252			120,753			93,175			93,531
Furniture and equipment expense		79,236			80,346			74,127			74,048			72,809
Impairment (recapture) of MSR’s		42,000			23,000			20,000			(38,000	)		1,000
Other		378,871			459,799			349,089			325,866			332,687
Total non-interest expense (1)		1,250,259			1,348,256			1,145,394			1,057,735			1,108,966
Income before income taxes from continuing operations		494,524			70,934			573,531			684,401			709,984
Income taxes		157,814			(181	)		179,291			230,669			235,908
Income from continuing operations		336,710			71,115			394,240			453,732			474,076
Loss from discontinued operations before income taxes		(67	)		(765	)		(122	)		(682	)		(215,818	)
Income tax benefit from discontinued operations		(25	)		(291	)		(46	)		(259	)		(74,723	)
Loss from discontinued operations, net of tax		(42	)		(474	)		(76	)		(423	)		(141,095	)
Net income	$	336,668		$	70,641		$	394,164		$	453,309		$	332,981
Weighted-average shares outstanding - during quarter:
Basic		695,098			695,518			700,589			709,322			726,921
Diluted		695,548			696,895			704,485			715,564			734,534
Actual shares outstanding - end of quarter (2)		694,721			693,636			697,332			704,398			721,825
Earnings per share from continuing operations (2):
Basic	$	0.48		$	0.10		$	0.56		$	0.64		$	0.65
Diluted	$	0.48		$	0.10		$	0.56		$	0.63		$	0.65
Earnings per share from discontinued operations (2):
Basic	$	0.00		$	0.00		$	0.00		$	0.00		$	(0.19	)
Diluted	$	0.00		$	0.00		$	0.00		$	0.00		$	(0.19	)
Earnings per share (3):
Basic	$	0.48		$	0.10		$	0.56		$	0.64		$	0.46
Diluted	$	0.48		$	0.10		$	0.56		$	0.63		$	0.45
Cash dividends declared per share (4)	$	0.38		$	0.38		$	0.36		$	0.36		$	0.36
Taxable equivalent net interest income from continuing operations	$	1,026,484		$	1,050,419		$	1,086,575		$	1,111,969		$	1,175,546

See notes to the Consolidated Statements of Income on page 4

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 4

(1) Merger-related charges total $75.6 million in 1Q08, $150.2 million in 4Q07, $91.8 million in 3Q07, $59.9 million in 2Q07, and $49.0 million in 1Q07. See page 17 for additional detail

(2) Certain per share amounts may not appear to reconcile due to rounding

(3) In 4Q07, in addition to the dividend paid, the Board of Directors declared a $0.38 per share dividend payable January 2, 2008

(4) Certain amounts in the prior periods have been reclassified to reflect current period presentation

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 5

Regions Financial Corporation and Subsidiaries

Consolidated Average Daily Balances and Yield/Rate Analysis Including Discontinued Operations (1)

	Quarter Ended
($ amounts in thousands; yields on taxable-equivalent basis)	3/31/08							12/31/07							9/30/07							6/30/07							3/31/07
	Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate		Average Balance			Income/ Expense		Yield/ Rate
Assets
Interest-earning assets:
Interest-bearing deposits in other banks	$	60,505		$	616	4.10	%	$	31,039		$	344	4.40	%	$	51,740		$	515	3.95	%	$	39,767		$	649	6.55	%	$	80,520		$	1,179	5.94	%
Federal funds sold and securities purchased under agreement to resell		1,146,251			13,533	4.75	%		1,093,155			17,032	6.18	%		1,141,666			18,154	6.31	%		1,124,636			17,162	6.12	%		1,061,976			16,373	6.25	%
Trading account assets		1,648,477			14,551	3.55	%		1,188,273			12,020	4.01	%		1,213,485			10,385	3.40	%		1,555,939			15,963	4.12	%		1,475,097			15,911	4.37	%
Securities:
Taxable		16,565,408			200,117	4.86	%		16,407,051			202,669	4.90	%		16,545,332			210,932	5.06	%		17,245,705			218,123	5.07	%		17,748,027			224,319	5.13	%
Tax-exempt		727,662			14,863	8.22	%		724,152			14,300	7.83	%		722,663			15,235	8.36	%		737,522			16,430	8.94	%		763,297			16,786	8.92	%
Loans held for sale		620,722			8,998	5.83	%		663,284			10,089	6.03	%		779,918			12,303	6.26	%		1,323,479			21,363	6.47	%		3,427,285			67,196	7.95	%
Loans held for sale-divestitures		—			—	—			—			—	—			—			—	—			—			—	—			1,150,548			21,520	7.59	%
Margin receivables		582,299			6,783	4.68	%		541,915			8,160	5.97	%		521,497			8,754	6.66	%		532,037			9,289	7.00	%		554,896			9,610	7.02	%
Loans, net of unearned income		95,718,586			1,532,347	6.44	%		94,783,954			1,675,761	7.01	%		94,309,811			1,743,636	7.34	%		94,051,511			1,735,135	7.40	%		94,338,760			1,745,475	7.50	%
Total interest-earning assets		117,069,910		$	1,791,808	6.16	%		115,432,823		$	1,940,375	6.67	%		115,286,112		$	2,019,914	6.95	%		116,610,596		$	2,034,114	7.00	%		120,600,406		$	2,118,369	7.12	%
Allowance for loan losses		(1,332,583	)						(1,070,916	)						(1,062,432	)						(1,056,832	)						(1,061,769	)
Cash and due from banks		2,746,249							2,831,323							2,751,656							2,803,967							3,010,446
Other assets		23,391,604							21,511,015							19,901,093							19,180,861							19,414,608
	$	141,875,180						$	138,704,245						$	136,876,429						$	137,538,592						$	141,963,691
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	3,699,304		$	1,268	0.14	%	$	3,669,700		$	2,236	0.24	%	$	3,756,311		$	2,795	0.30	%	$	3,861,380		$	2,884	0.30	%	$	3,905,299		$	2,964	0.31	%
Interest-bearing transaction accounts		15,620,128			46,525	1.20	%		15,029,192			64,376	1.70	%		15,268,807			79,618	2.07	%		15,816,958			84,334	2.14	%		16,113,504			83,343	2.10	%
Money market accounts		18,801,773			96,719	2.07	%		19,290,437			140,577	2.89	%		19,883,326			169,606	3.38	%		19,739,594			165,360	3.36	%		18,899,250			153,647	3.30	%
Time deposits		29,573,584			315,860	4.30	%		28,588,955			324,892	4.51	%		28,713,151			331,619	4.58	%		30,499,907			349,053	4.59	%		31,696,531			346,528	4.43	%
Foreign deposits		6,005,430			42,818	2.87	%		9,212,655			93,519	4.03	%		7,466,762			89,947	4.78	%		6,432,408			75,608	4.71	%		7,589,734			88,886	4.75	%
- Interest-bearing deposits divestitures		—			—	—			—			—	—			—			—	—			—			—	—			1,517,504			12,091	3.23	%
Total interest-bearing deposits		73,700,219			503,190	2.75	%		75,790,939			625,600	3.27	%		75,088,357			673,585	3.56	%		76,350,247			677,239	3.56	%		79,721,822			687,459	3.50	%
Federal funds purchased and securities sold under agreement to repurchase		8,753,109			67,940	3.12	%		8,557,902			92,310	4.28	%		8,121,636			98,522	4.81	%		7,461,579			90,460	4.86	%		8,174,934			96,303	4.78	%
Other short-term borrowings		5,389,754			45,068	3.36	%		1,554,759			14,767	3.77	%		1,598,989			16,570	4.11	%		2,251,296			26,177	4.66	%		2,213,107			24,358	4.46	%
Long-term borrowings		11,653,966			149,126	5.15	%		11,054,567			157,279	5.64	%		10,085,073			144,662	5.69	%		9,014,112			128,269	5.71	%		8,606,381			122,737	5.78	%
Total interest-bearing liabilities		99,497,048		$	765,324	3.09	%		96,958,167		$	889,956	3.64	%		94,894,055		$	933,339	3.90	%		95,077,234		$	922,145	3.89	%		98,716,244		$	930,857	3.82	%
Net interest spread						3.07	%						3.03	%						3.05	%						3.11	%						3.30	%
Non-interest-bearing deposits		17,602,501							18,249,585							18,850,607							19,233,146							19,694,403
Other liabilities		4,931,717							3,627,697							3,338,644							3,187,936							3,100,313
Stockholders’ equity		19,843,914							19,868,796							19,793,123							20,040,276							20,452,731
	$	141,875,180						$	138,704,245						$	136,876,429						$	137,538,592						$	141,963,691
Net interest income/margin FTE basis				$	1,026,484	3.53	%				$	1,050,419	3.61	%				$	1,086,575	3.74	%				$	1,111,969	3.82	%				$	1,187,512	3.99	%

(1) Certain amounts in prior periods have been reclassified to reflect current period presentation

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 6

Regions Financial Corporation and Subsidiaries

Selected Ratios

	As of and for Quarter Ended
	3/31/08			12/31/07			9/30/07			6/30/07			3/31/07
Return on average assets*		0.95	%		0.20	%		1.14	%		1.32	%		0.95	%
Return on average equity*		6.82	%		1.41	%		7.90	%		9.07	%		6.60	%
Return on average tangible equity*		17.84	%		3.67	%		20.14	%		22.89	%		16.29	%
Stockholders’ equity per share	$	28.82		$	28.58		$	28.46		$	27.96		$	28.14
Stockholders’ equity to total assets		13.88	%		14.05	%		14.36	%		14.31	%		14.71	%
Tangible stockholders’ equity to tangible assets		5.90	%		5.88	%		6.02	%		6.09	%		6.52	%
Allowance for credit losses as a percentage of loans, net of unearned income (1)		1.49	%		1.45	%		1.19	%		1.19	%		1.18	%
Allowance for loan losses as a percentage of loans, net of unearned income		1.43	%		1.39	%		1.13	%		1.13	%		1.12	%
Net interest margin (FTE)		3.53	%		3.61	%		3.74	%		3.82	%		3.99	%
Loans, net of unearned income, to total deposits		108.07	%		100.64	%		101.00	%		98.90	%		98.77	%
Net charge-offs as a percentage of average loans*		0.53	%		0.45	%		0.27	%		0.23	%		0.20	%
Total non-performing assets (excluding loans 90 days past due) as a percentage of loans and other real estate		1.25	%		0.90	%		0.62	%		0.62	%		0.45	%
Total non-performing assets (including loans 90 days past due) as a percentage of loans and other real estate		1.73	%		1.28	%		0.97	%		0.84	%		0.67	%

* Annualized

(1) The allowance for credit losses reflects the allowance related to both loans on the balance sheet and exposure related to unfunded commitments and standby letters of credit

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 7

Loans (1)

Loan Portfolio - Period End Data
($ amounts in thousands)	3/31/08		12/31/07		9/30/07		6/30/07		3/31/07		3/31/08 vs. 12/31/07*					3/31/08 vs. 3/31/07
Commercial	$	21,721,738	$	20,906,617	$	23,565,882	$	25,123,355	$	24,188,205	$	815,121		15.7	%	$	(2,466,467	)	-10.20	%
Real estate- mortgage		40,553,066		39,343,128		35,337,366		33,646,480		34,505,573		1,209,938		12.4	%		6,047,493		17.5	%
Real estate- construction		12,866,630		14,025,491		14,237,083		14,311,192		14,357,801		(1,158,861	)	-33.2	%		(1,491,171	)	-10.4	%
Home equity lending		15,034,850		14,962,007		14,835,319		14,819,443		14,845,348		72,843		2.0	%		189,502		1.3	%
Indirect lending		3,961,782		3,938,113		4,015,142		4,052,637		4,050,317		23,669		2.4	%		(88,535	)	-2.2	%
Other consumer		2,247,365		2,203,491		2,382,840		2,061,381		2,221,016		43,874		8.0	%		26,349		1.2	%
	$	96,385,431	$	95,378,847	$	94,373,632	$	94,014,488	$	94,168,260	$	1,006,584		4.2	%	$	2,217,171		2.4	%
Loan Portfolio - Average Balances
($ amounts in thousands)	1Q08		4Q07		3Q07		2Q07		1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Commercial	$	21,155,898	$	22,913,251	$	24,146,621	$	24,623,331	$	24,094,090	$	(1,757,353	)	-30.8	%	$	(2,938,192	)	-12.2	%
Real estate- mortgage		40,114,982		36,660,193		34,923,454		34,060,372		34,922,144		3,454,789		37.9	%		5,192,838		14.9	%
Real estate- construction		13,154,924		14,104,126		14,232,360		14,295,420		14,221,432		(949,202	)	-27.1	%		(1,066,508	)	-7.5	%
Home equity lending		14,997,750		14,888,685		14,774,085		14,836,871		14,858,209		109,065		2.9	%		139,541		0.9	%
Indirect lending		3,954,999		3,975,744		4,044,072		4,059,108		4,007,349		(20,745	)	-2.1	%		(52,350	)	-1.3	%
Other consumer		2,340,033		2,241,955		2,189,219		2,176,409		2,235,536		98,078		17.6	%		104,497		4.7	%
	$	95,718,586	$	94,783,954	$	94,309,811	$	94,051,511	$	94,338,760	$	934,632		4.0	%	$	1,379,826		1.5	%

(1) Certain amounts in the prior periods have been reclassified to reflect current period presentation

* Linked quarter percentage changes are presented on an annualized basis

• 1Q08 loan classifications reflect an approximate $722 million reclassification of balances from real estate-construction to real estate-mortgage, effective 1/1/08

• 4Q07 and 3Q07 loan classifications were impacted by conversion-related re-mapping

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PAGE 8

Deposits (1)

Deposit Portfolio - Period End Data
($ amounts in thousands)	3/31/08		12/31/07		9/30/07		6/30/07		3/31/07		3/31/08 vs. 12/31/07*					3/31/08 vs. 3/31/07
Interest-Free Deposits	$	18,182,582	$	18,417,266	$	18,834,856	$	19,136,419	$	19,942,928	$	(234,684	)	-5.1	%	$	(1,760,346	)	-8.8	%
Interest-Bearing Checking		15,603,984		15,846,139		15,208,224		15,685,340		16,426,436		(242,155	)	-6.1	%		(822,452	)	-5.0	%
Savings		3,792,550		3,646,632		3,692,087		3,795,701		3,937,346		145,918		16.1	%		(144,796	)	-3.7	%
Money Market		18,649,389		18,934,309		19,694,280		20,025,759		19,222,697		(284,920	)	-6.1	%		(573,308	)	-3.0	%
Money Market - Foreign		3,089,721		3,482,603		3,807,196		3,900,599		3,834,587		(392,882	)	-45.4	%		(744,865	)	-19.4	%
Total Low-Cost Deposits		59,318,226		60,326,949		61,236,643		62,543,818		63,363,994		(615,841	)	-4.1	%		(4,045,767	)	-6.4	%
Time Deposits		29,463,183		29,298,845		27,744,788		29,572,747		31,266,698		164,338		2.3	%		(1,803,515	)	-5.8	%
Other Foreign Deposits		406,000		5,149,174		4,458,499		2,939,826		705,956		(4,743,174	)	-370.5	%		(299,957	)	-42.5	%
	$	89,187,409	$	94,774,968	$	93,439,930	$	95,056,391	$	95,336,648	$	(5,587,559	)	-23.7	%	$	(6,149,239	)	-6.5	%
Deposit Portfolio - Average Balances
($ amounts in thousands)	1Q08		4Q07		3Q07		2Q07		1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Interest-Free Deposits	$	17,602,501	$	18,249,585	$	18,850,607	$	19,233,146	$	19,324,381	$	(647,084	)	-14.3	%	$	(1,721,880	)	-8.9	%
Interest-Bearing Checking		15,620,128		15,029,192		15,268,807		15,816,958		16,113,504		590,936		15.8	%		(493,376	)	-3.1	%
Savings		3,699,304		3,669,700		3,756,311		3,861,380		3,905,299		29,604		3.2	%		(205,995	)	-5.3	%
Money Market		18,801,773		19,290,437		19,883,326		19,739,594		18,899,250		(488,664	)	-10.2	%		(97,477	)	-0.5	%
Money Market - Foreign		3,213,214		3,851,065		3,969,910		3,802,564		3,659,151		(637,852	)	-66.6	%		(445,937	)	-12.2	%
Total Low-Cost Deposits excluding divestitures		58,936,920		60,089,979		61,728,961		62,453,642		61,901,585		(1,153,060	)	-7.7	%		(2,964,665	)	-4.8	%
Divestitures - Interest-Free		—		—		—		—		370,022		—		NM			(370,022	)	NM
Divestitures - Other Low-Cost		—		—		—		—		796,266		—		NM			(796,266	)	NM
Total Low-Cost Deposits		58,936,920		60,089,979		61,728,961		62,453,642		63,067,873		(1,153,060	)	-7.7	%		(4,130,953	)	-6.6	%
Time Deposits		29,573,584		28,588,955		28,713,151		30,499,907		31,696,531		984,630		13.9	%		(2,122,947	)	-6.7	%
Other Foreign Deposits		2,792,216		5,361,590		3,496,852		2,629,844		3,930,583		(2,569,374	)	-192.7	%		(1,138,367	)	-29.0	%
Divestitures - Time		—		—		—		—		721,238		—		NM			(721,238	)	NM
	$	91,302,720	$	94,040,524	$	93,938,964	$	95,583,393	$	99,416,225	$	(3,890,864	)	-16.6	%	$	(8,113,505	)	-8.2	%

(1) Certain amounts in the prior periods have been reclassified to reflect current period presentation

* Linked quarter percentage changes are presented on an annualized basis

• Regions uses foreign deposits as a source of short-term funding. As an alternative to these funds, in 1Q08, the Company used short-term borrowings, which are not classified as deposits, for much of its short-term funding needs

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 9

Operating Revenue from Continuing Operations (1)

Revenue
($ amounts in thousands)	1Q08		4Q07		3Q07		2Q07		1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Net Interest Income (TE basis)	$	1,026,484	$	1,050,419	$	1,086,575	$	1,111,969	$	1,175,546	$	(23,935	)	-9.2	%	$	(149,062	)	-12.7	%
Non-Interest Income (excl. sec. gains/losses)		816,660		733,023		705,150		729,607		696,608		83,637		45.9	%		120,052		17.2	%
Total Revenue (excl. sec. gains/losses, TE basis)	$	1,843,144	$	1,783,442	$	1,791,725	$	1,841,576	$	1,872,154	$	59,702		13.5	%	$	(29,010	)	-1.5	%

(1) Certain amounts in the prior periods have been reclassified to reflect current period presentation

* Linked quarter percentage changes are presented on an annualized basis

• Net interest margin of 3.53% in 1Q08 compared to 3.61% in 4Q07

• Regions’ balance sheet positioning is moderately asset sensitive as of March 31, 2008

• Fee income, excluding securities gains/losses, increased linked quarter, due in large part to the Visa IPO gain, higher insurance income and commercial credit fee income

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 10

Non-Interest Income and Expense from Continuing Operations (1)

Non-interest Income and Expense
Non-interest Income
($ amounts in thousands)	1Q08		4Q07			3Q07		2Q07			1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Service charges on deposit accounts	$	271,613	$	292,709		$	288,296	$	297,638		$	284,097	$	(21,096	)	-29.0	%	$	(12,484	)	-4.4	%
Brokerage and investment banking		229,203		227,808			209,413		207,372			186,195		1,395		2.5	%		43,008		23.1	%
Trust department income		56,938		60,798			62,449		64,590			63,482		(3,860	)	-25.5	%		(6,544	)	-10.3	%
Mortgage income		45,620		28,047			29,806		40,830			37,021		17,573		252.0	%		8,599		23.2	%
Securities gains (losses), net		91,643		(45	)		23,994		(32,806	)		304		91,688		NM			91,339		NM
Commercial credit fee income		54,300		35,568			29,217		18,971			20,574		18,732		211.8	%		33,726		163.9	%
Insurance income		30,899		23,320			23,340		25,476			27,229		7,579		130.7	%		3,670		13.5	%
Other		128,087		64,773			62,629		74,730			78,010		63,314		393.1	%		50,077		64.2	%
Total non-interest income	$	908,303	$	732,978		$	729,144	$	696,801		$	696,912	$	175,325		96.2	%	$	211,391		30.3	%
Non-interest Expense**
($ amounts in thousands)	1Q08		4Q07			3Q07		2Q07			1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Salaries and employee benefits	$	581,398	$	581,635		$	566,614	$	579,599		$	585,408	$	(237	)	-0.2	%	$	(4,010	)	-0.7	%
Net occupancy expense		105,266		102,361			99,325		88,490			89,701		2,905		11.4	%		15,565		17.4	%
Furniture and equipment expense		79,380		78,669			72,185		73,056			72,564		711		3.6	%		6,816		9.4	%
Impairment (recapture) of MSR’s		42,000		23,000			20,000		(38,000	)		1,000		19,000		332.3	%		41,000		NM
Loss on early extinguishment of debt		65,405		—			—		—			—		65,405		NM			65,405		NM
Professional fees		32,395		43,212			27,533		29,568			17,105		(10,817	)	-100.7	%		15,290		89.4	%
Marketing expense		20,784		29,062			20,756		19,624			21,711		(8,278	)	-114.6	%		(927	)	-4.3	%
Amortization of core deposit intangible		35,045		42,100			37,432		32,702			43,112		(7,055	)	-67.4	%		(8,067	)	-18.7	%
Amortization of MSR’s		24,292		21,183			17,308		20,384			20,042		3,109		59.0	%		4,250		21.2	%
Other		188,696		276,872			192,456		192,385			209,330		(88,176	)	-128.1	%		(20,634	)	-9.9	%
Total non-interest expense, excluding merger charges		1,174,661		1,198,094			1,053,609		997,808			1,059,973		(23,433	)	-7.9	%		114,688		10.8	%
Merger-related charges		75,598		150,162			91,785		59,927			48,993		(74,564	)	-199.7	%		26,605		54.3	%
Total non-interest expense	$	1,250,259	$	1,348,256		$	1,145,394	$	1,057,735		$	1,108,966	$	(97,997	)	-29.2	%	$	141,293		12.7	%

(1) Certain amounts in prior periods have been reclassified to reflect current period presentation

* Linked quarter percentage changes are presented on an annualized basis

** Individual expense categories are presented excluding merger-related charges, which are presented in a separate line item in the above table

• Service charges down, reflecting seasonality and an increase in waivers due to 4Q07 conversion events

• Brokerage income increased 23 percent over the same quarter last year reflecting strong fixed income and equity capital markets revenue

• Trust income declined due to lower overall asset valuations in 1Q08

• Commercial credit fee income increased $18.7 million in 1Q08 due to customers executing derivative transactions in order to manage their interest rate volatility

• Mortgage income was positively impacted by a 1Q08 adjustment related to FAS 159 adoption for mortgage loans held for sale; 4Q07 mortgage income reflected a $4.4 million loss on a sale of a portion of out-of-market mortgage servicing portfolio

• 1Q08 insurance income increased $7.6 million, reflecting Regions’ recent purchase of Barksdale Bonding & Insurance in January 2008 and seasonal increases

• Securities were sold at a $91.6 million gain during 1Q08

• 1Q08 other non-interest income is up linked-quarter due primarily to the $62.8 million gain on the redemption of Visa shares

• 1Q08 expenses include a $65.4 charge for early extinguishment of debt related to the redemption of subordinated notes

• 1Q08 other non-interest expense includes $24.5 million in additional losses on two Morgan Keegan investments. Also included is a 28.4 million Visa litigation expense reduction related to Visa’s IPO

• 1Q08 other non-interest expense also includes an $11.4 million annual first quarter subsidiary dividend payment

• 4Q07 marketing expense included cost related to campaigns run to coincide with the branch conversions

• Professional fees increased in 4Q07 due to special assets litigation resulting from credit cycle deterioration and higher legal costs

• 4Q07 other non-interest expense includes the $51.5 million charge related to Regions’ ownership interest in the Visa antitrust lawsuit settlements and other related litigation; $38.5 million loss related to two Morgan Keegan mutual fund investments; and $7.5 million in Other Real Estate losses. Lowering non-interest expense in 4Q07 was a $10.3 million change in expense related to an investment in energy-related tax credits

• Merger-related cost saves of $127 million, $108 million, $102 million, $84 million and $51 million are reflected in 1Q08, 4Q07, 3Q07, 2Q07 and 1Q07 non-interest expense, respectively

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 11

Morgan Keegan

Morgan Keegan

Summary Income Statement (excluding merger-related charges)

($ amounts in thousands)	1Q08		4Q07		3Q07		2Q07		1Q07		1Q08 vs. 4Q07*					1Q08 vs. 1Q07
Revenues:
Commissions	$	67,801	$	82,502	$	82,071	$	77,563	$	72,405	$	(14,701	)	-71.7	%	$	(4,604	)	-6.4	%
Principal transactions		70,045		56,216		43,916		43,838		37,597		13,829		98.9	%		32,448		86.3	%
Investment banking		55,010		57,192		48,958		48,579		36,750		(2,182	)	-15.3	%		18,260		49.7	%
Interest		29,454		33,772		35,388		39,820		40,031		(4,318	)	-51.4	%		(10,577	)	-26.4	%
Trust fees and services		54,085		56,736		55,803		57,185		56,121		(2,651	)	-18.8	%		(2,036	)	-3.6	%
Investment advisory		52,049		52,168		42,146		48,088		41,792		(119	)	-0.9	%		10,257		24.5	%
Other		10,423		12,357		10,134		13,761		17,303		(1,934	)	-62.9	%		(6,880	)	-39.8	%
Total revenues		338,867		350,943		318,416		328,834		301,999		(12,076	)	-13.8	%		36,868		12.2	%
Expenses:
Interest expense		15,470		19,790		21,790		25,046		23,983		(4,320	)	-87.8	%		(8,513	)	-35.5	%
Non-interest expense		274,355		291,022		225,469		225,074		206,108		(16,667	)	-23.0	%		68,247		33.1	%
Total expenses		289,825		310,812		247,259		250,120		230,091		(20,987	)	-27.2	%		59,734		26.0	%
Income before income taxes		49,042		40,131		71,157		78,714		71,908		8,911		89.3	%		(22,866	)	-31.8	%
Income taxes		18,069		15,068		26,000		28,603		26,367		3,001		80.1	%		(8,298	)	-31.5	%
Net income1	$	30,973	$	25,063	$	45,157	$	50,111	$	45,541	$	5,910		94.8	%	$	(14,568	)	-32.0	%

¹ 1Q08 net income does not include merger-related charges of $17.2 million pre-tax, or $11.0 million after-tax. Net income is $20.0 million including the merger-related charges for the quarter

Breakout of Revenue by Division

($ amounts in thousands)	Private Client			Fixed- income Capital Markets			Equity Capital Markets			Regions MK Trust			Asset Management			Interest & Other
Three months ended March 31, 2008:
$ amount of revenue	$	78,808		$	89,452		$	47,313		$	54,081		$	41,778		$	27,435
% of gross revenue		23.3	%		26.4	%		14.0	%		16.0	%		12.3	%		8.0	%
Three months ended December 31, 2007:
$ amount of revenue	$	99,005		$	79,544		$	29,940		$	56,743		$	50,066		$	35,645
% of gross revenue		28.2	%		22.7	%		8.5	%		16.2	%		14.3	%		10.1	%
Three months ended March 31, 2007
$ amount of revenue	$	96,072		$	47,556		$	17,891		$	56,122		$	44,474		$	39,884
% of gross revenue		31.8	%		15.8	%		5.9	%		18.6	%		14.7	%		13.2	%

* Linked quarter percentage changes are presented on an annualized basis

• Principal transactions revenue increased $13.8 million linked quarter, driven by an increase in fixed income activity as customers migrate to more traditionally stable products

• Commissions revenue was down $14.7 million in 1Q08 primarily due to the current unfavorable market conditions in traditional equity and retail sectors

• Private Client revenue was down 1Q08 compared to 4Q07 as a result of lower demand for traditional retail product sales due primarily to current market uncertainty

• Equity Capital Markets revenues were up 1Q08 resulting from increased oil and gas activity along with strong investment banking business

• Asset Management declined $8.3 million during 1Q08 due to lower asset valuations

• Non-interest expense includes $24.5 million and $38.5 million for 1Q08 and 4Q07, respectively, in losses related to investments in two Morgan Keegan mutual funds

• 21,400 new accounts were opened in 1Q08 compared to 21,300 in 4Q07 and 25,000 in 1Q07

• Total customer assets were $76.3 billion at March 31, 2008, compared to $80.0 billion at December 31, 2007 and $77.9 billion at March 31, 2007

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2008 EARNINGS RELEASE

PAGE 12

Credit Quality (1)

Credit Quality
	As of and for Quarter Ended															YTD
($ in thousands)	3/31/08			12/31/07			9/30/07			6/30/07			3/31/07			3/31/08			3/31/07
Allowance for credit losses (ACL)	$	1,432,271		$	1,379,498		$	1,126,554		$	1,118,229		$	1,110,324		$	1,432,271		$	1,110,324
Provision for loan losses from continuing operations	$	181,000		$	358,000		$	90,000		$	60,000		$	47,000		$	181,000		$	47,000
Provision for unfunded credit losses	$	(2,469	)	$	2,416		$	(518	)	$	2,292		$	2,229		$	(2,469	)	$	2,229
Net loans charged-off:*
Commercial	$	49,570		$	34,742		$	19,161		$	17,406		$	2,044		$	49,570		$	2,044
Real estate - mortgage		20,497			20,409			6,392			11,432			11,108			20,497			11,108
Real estate - construction		13,138			16,036			5,230			709			8,572			13,138			8,572
Home equity lending		21,072			11,513			11,701			8,774			8,686			21,072			8,686
Indirect lending		8,381			7,752			4,395			3,975			4,416			8,381			4,416
Other consumer		13,100			17,020			16,242			11,611			11,196			13,100			11,196
Total	$	125,758		$	107,472		$	63,121		$	53,907		$	46,022		$	125,758		$	46,022
Net loan charge-offs as a % of average loans, annualized *
Commercial		0.94	%		0.60	%		0.31	%		0.28	%		0.03	%		0.94	%		0.03	%
Real estate - mortgage		0.21	%		0.22	%		0.07	%		0.13	%		0.13	%		0.21	%		0.13	%
Real estate - construction		0.40	%		0.45	%		0.15	%		0.02	%		0.24	%		0.40	%		0.24	%
Home equity lending		0.57	%		0.31	%		0.31	%		0.24	%		0.24	%		0.57	%		0.24	%
Indirect lending		0.85	%		0.77	%		0.43	%		0.39	%		0.45	%		0.85	%		0.45	%
Other consumer		2.25	%		3.01	%		2.94	%		2.14	%		2.03	%		2.25	%		2.03	%
Total		0.53	%		0.45	%		0.27	%		0.23	%		0.20	%		0.53	%		0.20	%
Non-performing assets (NPAs):
Non-accrual loans*	$	1,024,201		$	743,589		$	494,693		$	501,175		$	349,833
Foreclosed properties		180,228			120,465			93,649			83,834			72,658
Total	$	1,204,429		$	864,054		$	588,342		$	585,009		$	422,491
Loans past due > 90 days*	$	467,375		$	356,685		$	332,116		$	204,829		$	204,296
Credit Ratios:
ACL/Loans, net		1.49	%		1.45	%		1.19	%		1.19	%		1.18	%
ALL/Loans, net		1.43	%		1.39	%		1.13	%		1.13	%		1.12	%
NPAs (ex. 90+ past due)/loans and foreclosed properties		1.25	%		0.90	%		0.62	%		0.62	%		0.45	%
NPAs (inc. 90+ past due)/loans and foreclosed properties		1.73	%		1.28	%		0.97	%		0.84	%		0.67	%

* See page 13 for loan portfolio (risk view) breakout

Allowance for Credit Losses
	Three Months Ended March 31
($ amounts in thousands)	2008			2007
Balance at beginning of year	$	1,379,498		$	1,107,788
Net loans charged-off		(125,758	)		(46,022	)
Allowance allocated to sold loans		—			(853	)
Provision for loan losses, from continuing operations		181,000			47,000
Provision for loan losses, from discontinued operations		—			182
Provision for unfunded credit commitments		(2,469	)		2,229
Balance at end of period	$	1,432,271		$	1,110,324
Components:
Allowance for loan losses		1,376,486			1,056,260
Reserve for unfunded credit commitments		55,785			54,064
Allowance for credit losses	$	1,432,271		$	1,110,324

(1) Certain amounts in prior periods have been reclassified to reflect current period presentation

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PAGE 13

Loan Portfolio - Risk View

Total Loan Portfolio

	Ending Balance				% of Total Loans
($ in thousands)	1Q08		4Q07		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	17,463,045	$	16,533,176	18	%	17	%
Commercial Real Estate - Owner-Occupied Mortgages		4,543,263		4,436,631	5	%	5	%
Total Commercial		22,006,308		20,969,807	23	%	22	%
Commercial Real Estate
CRE - Non-Owner-Occupied Mortgages		9,063,831		8,057,504	9	%	8	%
Construction^		11,460,090		12,893,068	12	%	14	%
Total Commercial Real Estate		20,523,921		20,950,572	21	%	22	%
Business and Community Banking Loans		16,045,530		15,540,443	17	%	16	%
Residential First Mortgage
Alt-A		2,743,467		2,830,062	3	%	3	%
Residential First Mortgage		14,019,883		14,129,484	14	%	15	%
Total Residential First Mortgage		16,763,350		16,959,546	17	%	18	%
Consumer
Home Equity Lending		15,034,850		14,962,007	16	%	16	%
Indirect Lending		3,961,782		3,938,113	4	%	4	%
Direct Lending		974,684		1,066,184	1	%	1	%
Other Consumer		1,075,006		992,175	1	%	1	%
Total Other Consumer		21,046,322		20,958,479	22	%	22	%
Total Loans	$	96,385,431	$	95,378,847	100	%	100	%

^ 20% owner occupied and 80% non-owner occupied as of 1Q08 and 4Q07

First Quarter 2008                                        

Net Charge-offs, Non-accrual and 90+ Days Past Due Loans

	90+ Past Due				% of Loans*				Non-accrual loans				% of Loans*				Net Charge-offs				% of Loans*
($ in thousands)	1Q08		4Q07		1Q08		4Q07		1Q08		4Q07		1Q08		4Q07		1Q08		4Q07		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	28,405	$	5,984	0.16	%	0.04	%	$	89,412	$	55,355	0.51	%	0.33	%	$	27,828	$	24,784	0.67	%	0.49	%
Commercial Real Estate - Owner-Occupied		2,475		1,112	0.05	%	0.03	%		110,579		105,494	2.43	%	2.38	%		4,433		2,643	0.40	%	0.13	%
Total Commercial		30,880		7,096	0.14	%	0.03	%		199,991		160,849	0.91	%	0.77	%		32,261		27,427	0.61	%	0.39	%
Commercial Real Estate
CRE - Non-Owner-Occupied Mortgages		17,732		7,625	0.20	%	0.09	%		207,907		148,539	2.29	%	1.84	%		5,247		9,903	0.24	%	0.73	%
Construction		10,782		18,535	0.09	%	0.14	%		446,861		304,941	3.90	%	2.37	%		12,666		16,111	0.44	%	0.48	%
Total Commercial Real Estate		28,514		26,160	0.14	%	0.12	%		654,768		453,480	3.19	%	2.16	%		17,913		26,014	0.35	%	0.55	%
Business and Community Banking Loans		19,960		10,638	0.12	%	0.07	%		100,991		75,930	0.63	%	0.49	%		23,568		10,313	0.59	%	0.39	%
Residential First Mortgage
Alt-A		67,275		41,125	2.45	%	1.45	%		14,271		8,534	0.52	%	0.30	%		2,106		1,822	0.31	%	0.26	%
Residential First Mortgage		118,654		113,281	0.85	%	0.80	%		41,750		38,177	0.30	%	0.27	%		7,356		5,611	0.21	%	0.16	%
Total Residential First Mortgage		185,929		154,406	1.11	%	0.91	%		56,021		46,711	0.33	%	0.28	%		9,462		7,433	0.23	%	0.18	%
Consumer
Home Equity Lending		192,836		146,808	1.28	%	0.98	%		12,428		6,611	0.08	%	0.04	%		21,072		11,513	0.57	%	0.31	%
Indirect Lending		4,233		6,002	0.11	%	0.15	%		1		8	0.00	%	0.00	%		8,381		7,752	0.85	%	0.77	%
Direct Lending		2,971		2,997	0.30	%	0.28	%		1		—	0.00	%	0.00	%		2,361		2,911	0.94	%	1.09	%
Other Consumer		2,052		2,578	0.19	%	0.26	%		—		—	0.00	%	0.00	%		10,740		14,109	3.74	%	5.21	%
			��
Total Other Consumer		202,092		158,385	0.96	%	0.76	%		12,430		6,619	0.06	%	0.03	%		42,554		36,285	0.81	%	0.69	%
Total Loans	$	467,375	$	356,685	0.48	%	0.37	%	$	1,024,201	$	743,589	1.06	%	0.78	%	$	125,758	$	107,472	0.53	%	0.45	%

* Percentage of related loan category outstandings

* 1Q08 loan classifications reflect an approximate $722 million reclassification of balances from real estate - construction to real estate - mortgage, effective 1/1/08 (note that “Past due, non-accrual and net charge-off also impacted by reclass)

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PAGE 14

Commercial Real Estate - $20.5 billion

• Portfolio well-diversified by product type

• $6.2 billion residential homebuilder portfolio is a subset of the Commercial Real Estate portfolio with the majority of the residential homebuilder portfolio found in land and single family sectors

• Proactively reducing certain concentrations

• Land balances down $1.2 billion since December 2006

• Condominium balances down $891 million since December 2006

Consumer Real Estate - $31.8 billion

Total Loan Portfolio

	Outstandings*		Wgtd Avg. LTV		Wgtd Avg. FICO	Avg. Loan Size		% in 1st Lien
Home Equity Lending	$	15,034,850	74	%	733	$	76,946	40	%
Residential 1st Mortgage		14,019,883	67	%	725		175,149	99	%
Alt-A		2,743,467	72	%	711		175,886	100	%
Total Consumer RE Portfolio	$	31,798,200	71	%	728	$	122,882	71	%

* $ in thousands

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PAGE 15

Residential Homebuilder Portfolio - $6.2 billion

Portfolio Breakout by Category

($ in millions)

Geographic Breakout

($ in Thousands)

¹ Central consists of Alabama, Georgia, and South Carolina

² Midsouth consists of North Carolina, Virginia and Tennessee

³ Midwest consists of Arkansas, Illinois, Indiana, Iowa, Kentucky, Missouri, and Texas

⁴ Southwest consists of Louisiana and Mississippi

Product Breakout

($ in Thousands)

	Lots			Residential Presold			Residential Spec			Land			National Homebuilders			Total Portfolio
	$		%*	$		%*	$		%*	$		%*	$		%*	$		%*
90+ Past Due		2,883	0.17		428	0.07		6,596	0.35		3,764	0.18		102	0.04		13,273	0.21
Non-Accruing Loans		103,294	7.29		33,245	5.65		160,343	8.55		94,319	4.51		27,030	10.47		418,231	6.71
Average Note Size:
Total Portfolio		250	—		416	—		245	—		673	—		521	—		340	—
Central		270	—		213	—		214	—		513	—		221	—		270	—
Florida		577	—		1,026	—		470	—		2,137	—		5,003	—		907	—
Outstandings	$	1,416,909		$	588,163		$	1,874,700		$	2,093,181		$	258,211		$	6,231,164

* Percentage of related product outstandings

• Average note size of the homebuilder portfolio is $304,000

• Non-accruing loans represent 6.71 percent of the total homebuilder portfolio with the highest concentrations in the Florida and Central (mainly Atlanta) regions

• 1Q08 net charge-offs (individually exceeding $1 million) in the homebuilder portfolio were $15 million

• At 1Q08 approximately $1.2 billion of the $6.2 billion homebuilder portfolio is being managed within the Special Assets department

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PAGE 16

Additional Financial and Operational Data

	3/31/08	12/31/07	9/30/07	6/30/07	3/31/07
Associate headcount	32,143	33,161	33,630	34,293	34,138
Authorized shares remaining under buyback program (see note below)	23.1MM	23.1MM	27.6MM	34.2MM	53.9MM
Total branch outlets	1,938	1,965	2,022	2,081	2,088
ATMs	2,464	2,490	2,549	2,581	2,590
Morgan Keegan offices	397	416	430	446	453

Merger-Related Items

(Pre-tax dollars in thousands)	Income Statement Effect		Excess Purchase Price			Total
Year ended December 31, 2006	$	88,658	$	185,378		$	274,036
First Quarter 2007		48,993		3,537			52,530
Second Quarter 2007		59,927		4,090			64,017
Third Quarter 2007		91,785		118			91,903
Fourth Quarter 2007		150,162		(10,648	)		139,514
First Quarter 2008		75,598		—			75,598
Total	$	515,123	$	182,475		$	697,598

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PAGE 17

Reconciliation to GAAP Financial Measures

The table below presents computations of earnings and certain other financial measures excluding discontinued operations and merger charges (non-GAAP). Merger charges and discontinued operations are included in financial results presented in accordance with generally accepted accounting principles (GAAP). Regions believes the exclusion of merger charges in expressing earnings and certain other financial measures, including “earnings per share from continuing operations, excluding merger charges” and “return on average tangible equity, excluding discontinued operations and merger charges”, provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business, because management does not consider merger charges to be relevant to ongoing operating results. Management and the Board of Directors utilize these non-GAAP financial measures for the following purposes: Preparation of Regions’ operating budgets; calculation of performance-based annual incentive bonuses for certain executives; calculation of performance-based multi-year incentive bonuses for certain executives; monthly financial performance reporting, including segment reporting; monthly close-out “flash” reporting of consolidated results (management only); and presentations to investors of company performance. Regions believes that presenting these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management and the Board of Directors. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. To mitigate these limitations, Regions has policies in place to address expenses that qualify as merger charges and procedures in place to approve and segregate merger charges from other normal operating expenses to ensure that the Company’s operating results are properly reflected for period-to-period comparisons. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes merger charges does not represent the amount that effectively accrues directly to stockholders (i.e., merger charges are a reduction in earnings and stockholders’ equity).

		As of and for Quarter Ended
($ amounts in thousands, except per share data)		03/31/08			12/31/07			9/30/07			6/30/07			3/31/07
INCOME
Income from continuing operations (GAAP)		$	336,710		$	71,115		$	394,240		$	453,732		$	474,076
Loss from discontinued operations, net of tax			(42	)		(474	)		(76	)		(423	)		(141,095	)
Net income (GAAP)	A	$	336,668		$	70,641		$	394,164		$	453,309		$	332,981
Income from continuing operations (GAAP)		$	336,710		$	71,115		$	394,240		$	453,732		$	474,076
Merger-related charges, pre-tax
Salaries and employee benefits			62,089			97,224			14,811			23,047			23,531
Net occupancy expense			1,399			3,891			21,428			4,685			3,830
Furniture and equipment expense			(144	)		1,677			1,942			992			245
Other			12,254			47,370			53,604			31,203			21,387
Total merger-related charges, pre-tax			75,598			150,162			91,785			59,927			48,993
Merger-related charges, net of tax			46,871			93,505			56,501			37,155			30,376
Income excluding discontinued operations and merger charges (non-GAAP)	B	$	383,581		$	164,620		$	450,741		$	490,887		$	504,452
Weighted-average shares outstanding - diluted	C		695,548			696,895			704,485			715,564			734,534
Earnings per share, excluding discontinued operations and merger charges - diluted	B/C	$	0.55		$	0.24		$	0.64		$	0.69		$	0.69
RETURN ON AVERAGE TANGIBLE EQUITY
Average equity (GAAP)	D	$	19,843,914		$	19,868,796		$	19,793,123		$	20,040,276		$	20,452,731
Average intangible assets (GAAP)			12,254,861			12,232,365			12,026,887			12,097,753			12,165,061
Average tangible equity	E	$	7,589,053		$	7,636,431		$	7,766,236		$	7,942,523		$	8,287,670
Average equity, excluding discontinued operations	F	$	19,843,914		$	19,868,796		$	19,793,123		$	20,040,276		$	20,360,732
Average intangible assets, excluding discontinued operations			12,254,861			12,232,365			12,026,887			12,097,753			12,165,061
	G	$	7,589,053		$	7,636,431		$	7,766,236		$	7,942,523		$	8,195,671
Return on average tangible equity*	A/E		17.84	%		3.67	%		20.14	%		22.89	%		16.29	%
Return on average tangible equity, ex. discontinued operations and merger charges (non-GAAP)*	B/G		20.33	%		8.55	%		23.03	%		24.79	%		24.96	%

* Income statement amounts have been annualized in calculation

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PAGE 18

Forward-Looking Statements

This financial supplement to Regions’ first quarter 2008 earnings release may include forward-looking statements about Regions Financial Corporation within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements. The words “believe,” “expect,” “anticipate,” “project,” and similar expressions often signify forward-looking statements. Such statements involve inherent risks and uncertainties. Regions cautions that actual results and events could differ materially from expectations expressed in forward-looking statements as a result of factors such as possible changes in economic and business conditions and interest rates; the current stresses in the financial markets; Regions’ ability to attract and retain customers; the effects of geopolitical instability and risks such as terrorist attacks; the effects of weather and natural disasters such as droughts and hurricanes; possible changes in laws and regulations and governmental monetary and fiscal policies; the cost and other effects of legal and administrative cases and similar contingencies; possible changes in the creditworthiness of customers and the possible impairment of collectibility of loans; increased competition from both banks and non-banks; and effects of critical accounting policies and judgments. For discussion of these and other risks that may cause actual results to differ from expectations, please look under the caption “Forward-Looking Statements” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2007 as on file with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Regions assumes no obligation to update or revise any forward-looking statements that are made from time to time.

Regions’ Investor Relations contact is List Underwood at (205) 801-0265; Regions’ Media contact is Tim Deighton at (205) 264-4551