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

Exhibit 99.2

FINANCIAL SUPPLEMENT TO THIRD QUARTER 2008 EARNINGS RELEASE

Summary

Quarterly earnings of $0.11 per diluted share (GAAP); excluding $26 million in after-tax merger charges and discontinued operations, earnings were $0.15 (non-GAAP - see page 22 for additional details)

• Third quarter earnings included several significant items: $43 million pre-tax charge related to tax treatment of leveraged leases; $417 million loan loss provision—$108 million increase from second quarter, primarily the result of an aggressive stance taken in disposing of non-performing assets; changes in market interest rates necessitated an $11 million mortgage servicing rights impairment charge—a 7 cent linked-quarter swing versus the $67 million recapture recorded in 2Q

Emphasis on problem loan and property dispositions drives net loan charge-offs increase

• Focus on troubled asset disposition helping control non-performing assets levels and reduce problematic loan portfolios

• Sold or transferred to held for sale approximately $430 million of non-performing loans and foreclosed properties

• Net charge-offs increased to $416 million or 1.68 percent of average loans in the third quarter, compared to $209 million or 0.86% in the second quarter. The majority of the increase was attributable to non-performing asset dispositions or transfers

• Non-performing assets, including held for sale, increased $141 million versus the previous quarter, to 1.79% of loans and foreclosed properties. Excluding held for sale, NPA ratio was 1.66%, little changed versus second quarter

• Allowance for credit losses increased slightly to 1.57% of loans as compared to 1.56% in the second quarter

Proactive management of well-defined credit issues

• Residential homebuilder exposure continued to decline as a result of intense focus on property dispositions as well as paydowns

• Homebuilder balances totaled $5.2 billion at quarter-end, a $556 million decrease compared to second quarter

• Condominium exposure down to $1.1 billion, down $532 million or by one-third since the beginning of 2008

• Home equity losses declined in 3rd quarter; active portfolio management having an impact

• Total home equity write-offs decreased to an annualized 1.59% of related loans vs. 1.94% in the second quarter

• Aggressive approach to contacting and helping home equity customers and actions such as fortifying the collections function having a positive impact; dedicated team focused solely on Florida home equity loans contributing as well

• Florida home equity default rate declined; however, increase in average severity of loss due to declining property values offsetting to some extent

Net interest margin impacted by tax settlement

• Net interest income declined to $922 million, primarily due to 26 basis point linked-quarter drop in the net interest margin (NIM) to 3.10%

• A $43 million (14 bps reduction to NIM ) charge related to a leveraged lease tax settlement accounted for over half of the decline; A $19 million tax benefit partially offset impact to net income. Net impact was a 3 cent reduction to diluted EPS

• Deposit disintermediation and pricing pressure impacting net interest margin; industry-wide flight to quality (e.g. Treasury securities) weighing on bank deposits

• Regions remains focused on deposit growth opportunities; Company has realigned branch incentive plan measures and weightings to drive quality checking production

• Positioned to take advantage of disruptions and opportunities being created by bank mergers and FDIC-assisted takeovers; acquired approximately $900 million dollars of deposits from failed Atlanta bank in an FDIC-assisted transaction

Non-interest income results mixed; expenses well contained

• Non-interest revenue decreased to $719 million in the third quarter, primarily reflecting soft brokerage revenues

• Non-interest expense, excluding merger charges and mortgage servicing rights impact, improved by $15.2 million or 5% linked-quarter

• Personnel cost declined by $25 million quarter-over-quarter, reflecting success in operating efficiency initiatives and reduced compensation accruals

• Other real estate owned expense increased $23 million versus second quarter, reflecting aggressive efforts to sell foreclosed properties

• Merger and other efficiency-related cost saves exceed $700 million annual run-rate target

Maintaining capital position; steady growth expected

• Tier 1 ratio of an estimated 7.47 percent at September 30, 2008, $1.7 billion above “well capitalized” minimum

• Regions has been notified that it is eligible and does intend to participate in the capital purchase program announced by the Treasury Department on October 13, 2008. The capital is in the form of senior perpetual preferred stock (together with warrants to purchase common stock) and qualifies as Tier 1 capital for regulatory purposes. It is being offered at an attractive coupon of 5 percent for the first five years. Qualified institutions can obtain between 1 percent and 3 percent of their total risk-weighted assets as of September 30, 2008, as defined by banking regulations. For Regions, this would approximate between $1.17 billion and $3.51 billion of capital, providing a significant strengthening of our overall capital base.

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 2

Regions Financial Corporation and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

($ amounts in thousands)

	Quarter Ended
	9/30/08			6/30/08			3/31/08			12/31/07			9/30/07
Assets:
Cash and due from banks	$	2,985,950		$	3,160,519		$	3,061,324		$	3,720,365		$	2,902,340
Interest-bearing deposits in other banks		29,638			46,257			47,850			31,706			29,895
Federal funds sold and securities purchased under agreements to resell		698,142			977,579			1,071,806			1,177,170			706,378
Trading account assets		1,111,818			1,454,502			1,299,460			907,300			1,355,007
Securities available for sale		17,632,912			17,724,907			17,766,260			17,318,074			16,957,077
Securities held to maturity		50,494			48,244			49,790			50,935			49,559
Loans held for sale		1,053,977			677,098			756,500			720,924			792,142
Margin receivables		587,178			533,635			616,732			504,614			525,953
Loans, net of unearned income		98,711,810			98,266,579			96,385,431			95,378,847			94,373,632
Allowance for loan losses		(1,472,141	)		(1,471,524	)		(1,376,486	)		(1,321,244	)		(1,070,716	)
Net loans		97,239,669			96,795,055			95,008,945			94,057,603			93,302,916
Premises and equipment, net		2,730,301			2,726,249			2,665,813			2,610,851			2,473,339
Interest receivable		512,196			510,895			550,117			615,711			664,974
Goodwill		11,529,091			11,515,095			11,510,096			11,491,673			11,453,078
Mortgage servicing rights (MSRs)		263,138			271,392			268,784			321,308			377,201
Other identifiable intangible assets		660,998			693,423			729,835			759,832			804,328
Other assets		7,206,993			7,301,445			8,845,659			6,753,651			5,841,002
Total Assets	$	144,292,495		$	144,436,295		$	144,248,971		$	141,041,717		$	138,235,189
Liabilities and Stockholders’ Equity:
Deposits:
Non-interest-bearing	$	18,044,840		$	18,334,239		$	18,182,582		$	18,417,266		$	18,834,856
Interest-bearing		71,175,708			71,569,410			71,004,827			76,357,702			74,605,074
Total deposits		89,220,548			89,903,649			89,187,409			94,774,968			93,439,930
Borrowed funds:
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase		10,427,005			8,663,628			8,450,346			8,820,235			8,063,739
Other short-term borrowings		7,114,553			8,926,603			8,716,951			2,299,887			1,727,346
Total short-term borrowings		17,541,558			17,590,231			17,167,297			11,120,122			9,791,085
Long-term borrowings		14,168,524			13,318,656			12,357,225			11,324,790			10,817,491
Total borrowed funds		31,710,082			30,908,887			29,524,522			22,444,912			20,608,576
Other liabilities		3,656,586			3,915,265			5,515,119			3,998,808			4,340,334
Total Liabilities		124,587,216			124,727,801			124,227,050			121,218,688			118,388,840
Stockholders’ equity:
Common stock		7,358			7,358			7,358			7,347			7,346
Additional paid-in capital		16,606,677			16,588,382			16,560,302			16,544,651			16,527,540
Retained earnings		4,445,375			4,436,660			4,494,573			4,439,505			4,632,033
Treasury stock		(1,423,620	)		(1,370,761	)		(1,370,761	)		(1,370,761	)		(1,270,922	)
Accumulated other comprehensive income (loss)		69,489			46,855			330,449			202,287			(49,648	)
Total Stockholders’ Equity		19,705,279			19,708,494			20,021,921			19,823,029			19,846,349
Total Liabilities & SE	$	144,292,495		$	144,436,295		$	144,248,971		$	141,041,717		$	138,235,189

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 3

Regions Financial Corporation and Subsidiaries

Consolidated Statements of Income (3)

(Unaudited)

($ amounts in thousands, except per share data)

	Quarter Ended
	9/30/08			6/30/08			3/31/08			12/31/07			9/30/07
Interest income on:
Loans, including fees	$	1,318,463		$	1,374,705		$	1,528,883		$	1,674,690		$	1,742,172
Securities:
Taxable		207,903			208,134			200,117			202,669			210,932
Tax-exempt		10,974			9,952			9,721			9,361			10,020
Total securities		218,877			218,086			209,838			212,030			220,952
Loans held for sale		8,514			9,598			8,998			10,090			12,302
Federal funds sold and securities purchased under agreements to resell		7,746			10,202			13,533			17,032			18,154
Trading account assets		9,868			12,362			14,153			11,822			10,271
Margin receivables		4,776			5,541			6,783			8,160			8,754
Time deposits in other banks		151			168			616			344			515
Total interest income		1,568,395			1,630,662			1,782,804			1,934,168			2,013,120
Interest expense on:
Deposits		391,271			422,151			503,190			625,600			673,585
Short-term borrowings		101,635			85,294			113,008			107,077			115,092
Long-term borrowings		153,894			143,509			149,126			157,279			144,662
Total interest expense		646,800			650,954			765,324			889,956			933,339
Net interest income		921,595			979,708			1,017,480			1,044,212			1,079,781
Provision for loan losses		417,000			309,000			181,000			358,000			90,000
Net interest income after provision for loan losses		504,595			670,708			836,480			686,212			989,781
Non-interest income:
Service charges on deposit accounts		294,038			294,182			271,613			292,709			288,296
Brokerage and investment banking		240,839			271,679			272,554			253,822			227,613
Trust department income		66,473			58,537			56,938			60,798			62,449
Mortgage income		33,030			24,926			45,620			28,047			29,806
Securities gains (losses), net		43			(28	)		91,643			(45	)		23,994
Other		84,841			93,924			169,935			97,647			96,986
Total non-interest income		719,264			743,220			908,303			732,978			729,144
Non-interest expense:
Salaries and employee benefits		551,871			598,844			643,487			678,859			581,425
Net occupancy expense		110,595			111,457			106,665			106,252			120,753
Furniture and equipment expense		85,375			85,122			79,236			80,346			74,127
Impairment (recapture) of MSR’s		11,000			(67,000	)		42,000			23,000			20,000
Other		368,790			411,951			378,871			459,799			349,089
Total non-interest expense (1)		1,127,631			1,140,374			1,250,259			1,348,256			1,145,394
Income before income taxes from continuing operations		96,228			273,554			494,524			70,934			573,531
Income taxes		5,870			66,908			157,814			(181	)		179,291
Income from continuing operations		90,358			206,646			336,710			71,115			394,240
Loss from discontinued operations before income taxes		(17,501	)		(406	)		(67	)		(765	)		(122	)
Income tax benefit from discontinued operations		(6,604	)		(153	)		(25	)		(291	)		(46	)
Loss from discontinued operations, net of tax		(10,897	)		(253	)		(42	)		(474	)		(76	)
Net income	$	79,461		$	206,393		$	336,668		$	70,641		$	394,164
Weighted-average shares outstanding—during quarter:
Basic		695,950			695,978			695,098			695,518			700,589
Diluted		696,205			696,346			695,548			696,895			704,485
Actual shares outstanding—end of quarter		691,956			694,729			694,721			693,636			697,332
Earnings per share from continuing operations (2):
Basic	$	0.13		$	0.30		$	0.48		$	0.10		$	0.56
Diluted	$	0.13		$	0.30		$	0.48		$	0.10		$	0.56
Earnings per share from discontinued operations (2):
Basic	$	(0.02	)	$	0.00		$	0.00		$	0.00		$	0.00
Diluted	$	(0.02	)	$	0.00		$	0.00		$	0.00		$	0.00
Earnings per share (2):
Basic	$	0.11		$	0.30		$	0.48		$	0.10		$	0.56
Diluted	$	0.11		$	0.30		$	0.48		$	0.10		$	0.56
Cash dividends declared per share	$	0.10		$	0.38		$	0.38		$	0.38		$	0.36
Taxable equivalent net interest income from continuing operations	$	930,602		$	989,522		$	1,026,484		$	1,050,419		$	1,086,575

See notes to the Consolidated Statements of Income on page 5.

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 4

Regions Financial Corporation and Subsidiaries

Consolidated Statements of Income (3)

(Unaudited)

($ amounts in thousands, except per share data)

	Nine Months Ended September 30
	2008			2007
Interest income on:
Loans, including fees	$	4,222,051		$	5,249,854
Securities:
Taxable		616,154			653,374
Tax-exempt		30,647			31,899
Total securities		646,801			685,273
Loans held for sale		27,110			82,007
Federal funds sold and securities purchased under agreements to resell		31,481			51,689
Trading account assets		36,383			41,676
Margin receivables		17,100			27,653
Time deposits in other banks		935			2,343
Total interest income		4,981,861			6,140,495
Interest expense on:
Deposits		1,316,612			2,038,283
Short-term borrowings		299,937			352,390
Long-term borrowings		446,529			395,668
Total interest expense		2,063,078			2,786,341
Net interest income		2,918,783			3,354,154
Provision for loan losses		907,000			197,000
Net interest income after provision for loan losses		2,011,783			3,157,154
Non-interest income:
Service charges on deposit accounts		859,833			870,031
Brokerage and investment banking		785,072			640,799
Trust department income		181,948			190,521
Mortgage income		103,576			107,657
Securities gains (losses), net		91,658			(8,508	)
Other		348,700			322,357
Total non-interest income		2,370,787			2,122,857
Non-interest expense:
Salaries and employee benefits		1,794,202			1,793,010
Net occupancy expense		328,717			307,459
Furniture and equipment expense		249,733			220,984
Recapture of MSR’s		(14,000	)		(17,000	)
Other		1,159,612			1,007,642
Total non-interest expense (1)		3,518,264			3,312,095
Income before income taxes from continuing operations		864,306			1,967,916
Income taxes		230,592			645,868
Income from continuing operations		633,714			1,322,048
Loss from discontinued operations before income taxes		(17,974	)		(216,622	)
Income tax benefit from discontinued operations		(6,782	)		(75,028	)
Loss from discontinued operations, net of tax		(11,192	)		(141,594	)
Net income	$	622,522		$	1,180,454
Weighted-average shares outstanding—year-to-date:
Basic		695,676			712,181
Diluted		696,034			718,084
Actual shares outstanding—end of period		691,956			697,332
Earnings per share from continuing operations (2):
Basic	$	0.91		$	1.86
Diluted	$	0.91		$	1.84
Earnings per share from discontinued operations (2):
Basic	$	(0.02	)	$	(0.20	)
Diluted	$	(0.02	)	$	(0.20	)
Earnings per share (2):
Basic	$	0.89		$	1.66
Diluted	$	0.89		$	1.64
Cash dividends declared per share	$	0.86		$	1.08
Taxable equivalent net interest income from continuing operations	$	2,946,608		$	3,386,057

See notes to the Consolidated Statements of Income on page 5.

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 5

(1) Merger-related charges total $24.5 million in 3Q08, $100.1 million in 2Q08, $75.6 million in 1Q08, $150.2 million in 4Q07 and $91.8 million in 3Q07. See page 21 for additional detail

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

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

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 6

Regions Financial Corporation and Subsidiaries

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

	Quarter Ended
	9/30/08							6/30/08							3/31/08							12/31/07							9/30/07
($ amounts in thousands; yields on taxable-equivalent basis)	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	$	45,059		$	151	1.33	%	$	50,509		$	168	1.34	%	$	60,505		$	616	4.10	%	$	31,039		$	344	4.40	%	$	51,740		$	515	3.95	%
Federal funds sold and securities purchased under agreement to resell		1,062,198			7,746	2.90	%		949,682			10,202	4.32	%		1,146,251			13,533	4.75	%		1,093,155			17,032	6.18	%		1,141,666			18,154	6.31	%
Trading account assets		1,285,122			10,914	3.38	%		1,333,590			13,551	4.09	%		1,648,477			14,551	3.55	%		1,188,273			12,020	4.01	%		1,213,485			10,385	3.40	%
Securities:
Taxable		16,962,182			207,903	4.88	%		16,977,622			208,134	4.93	%		16,565,408			200,117	4.86	%		16,407,051			202,669	4.90	%		16,545,332			210,932	5.06	%
Tax-exempt		767,277			16,627	8.62	%		719,535			15,223	8.51	%		727,662			14,863	8.22	%		724,152			14,300	7.83	%		722,663			15,235	8.36	%
Loans held for sale		563,015			8,514	6.02	%		650,096			9,598	5.94	%		620,722			8,998	5.83	%		663,284			10,089	6.03	%		779,918			12,303	6.26	%
Margin receivables		536,681			4,776	3.54	%		585,736			5,541	3.81	%		582,299			6,783	4.68	%		541,915			8,160	5.97	%		521,497			8,754	6.66	%
Loans, net of unearned income (2)		98,333,257			1,320,771	5.34	%		97,194,350			1,378,059	5.70	%		95,718,586			1,532,347	6.44	%		94,783,954			1,675,761	7.01	%		94,309,811			1,743,636	7.34	%
Total interest-earning assets		119,554,791		$	1,577,402	5.25	%		118,461,120		$	1,640,476	5.57	%		117,069,910		$	1,791,808	6.16	%		115,432,823		$	1,940,375	6.67	%		115,286,112		$	2,019,914	6.95	%
Allowance for loan losses		(1,490,838	)						(1,370,777	)						(1,332,583	)						(1,070,916	)						(1,062,432	)
Cash and due from banks		2,420,550							2,424,758							2,746,249							2,831,323							2,751,656
Other assets		22,756,459							23,045,528							23,391,604							21,511,015							19,901,093
	$	143,240,962						$	142,560,629						$	141,875,180						$	138,704,245						$	136,876,429
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	3,774,330		$	1,010	0.11	%	$	3,810,211		$	1,000	0.11	%	$	3,699,304		$	1,268	0.14	%	$	3,669,700		$	2,236	0.24	%	$	3,756,311		$	2,795	0.30	%
Interest-bearing transaction accounts		14,830,665			28,529	0.77	%		15,396,516			32,057	0.84	%		15,620,128			46,525	1.20	%		15,029,192			64,376	1.70	%		15,268,807			79,618	2.07	%
Money market accounts		17,534,433			70,589	1.60	%		18,314,710			70,968	1.56	%		18,801,773			96,719	2.07	%		19,290,437			140,577	2.89	%		19,883,326			169,606	3.38	%
Time deposits		30,167,854			272,975	3.60	%		29,932,613			292,402	3.93	%		29,573,584			315,860	4.30	%		28,588,955			324,892	4.51	%		28,713,151			331,619	4.58	%
Foreign deposits		4,592,450			18,168	1.57	%		5,635,370			25,724	1.84	%		6,005,430			42,818	2.87	%		9,212,655			93,519	4.03	%		7,466,762			89,947	4.78	%
Total interest-bearing deposits		70,899,732			391,271	2.20	%		73,089,420			422,151	2.32	%		73,700,219			503,190	2.75	%		75,790,939			625,600	3.27	%		75,088,357			673,585	3.56	%
Federal funds purchased and securities sold under agreement to repurchase		9,906,410			51,597	2.07	%		7,683,304			39,353	2.06	%		8,753,109			67,940	3.12	%		8,557,902			92,310	4.28	%		8,121,636			98,522	4.81	%
Other short-term borrowings		8,015,486			50,038	2.48	%		7,097,347			45,941	2.60	%		5,389,754			45,068	3.36	%		1,554,759			14,767	3.77	%		1,598,989			16,570	4.11	%
Long-term borrowings		13,363,762			153,894	4.58	%		12,925,634			143,509	4.47	%		11,653,966			149,126	5.15	%		11,054,567			157,279	5.64	%		10,085,073			144,662	5.69	%
Total interest-bearing liabilities		102,185,390		$	646,800	2.52	%		100,795,705		$	650,954	2.60	%		99,497,048		$	765,324	3.09	%		96,958,167		$	889,956	3.64	%		94,894,055		$	933,339	3.90	%
Net interest spread						2.73	%						2.97	%						3.07	%						3.03	%						3.05	%
Non-interest-bearing deposits		17,690,915							17,814,075							17,602,501							18,249,585							18,850,607
Other liabilities		3,651,189							4,168,681							4,931,717							3,627,697							3,338,644
Stockholders’ equity		19,713,468							19,782,168							19,843,914							19,868,796							19,793,123
	$	143,240,962						$	142,560,629						$	141,875,180						$	138,704,245						$	136,876,429
Net interest income/margin FTE basis				$	930,602	3.10	%				$	989,522	3.36	%				$	1,026,484	3.53	%				$	1,050,419	3.61	%				$	1,086,575	3.74	%

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

(2) 3Q08 loan income includes a $43.1 million reduction for the impact of a leveraged lease tax settlement. The yield on loans adjusted to exclude the settlement would be 5.52%

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 7

Regions Financial Corporation and Subsidiaries

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

($ amounts in thousands; yields on taxable equivalent basis)	Nine Months Ended September 30
	2008							2007
	Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate
Assets
Interest-earning assets:
Interest-bearing deposits in other banks	$	51,999		$	935	2.40	%	$	57,237		$	2,343	5.47	%
Federal funds sold and securities purchased under agreement to resell		1,052,745			31,481	3.99	%		1,109,718			51,689	6.23	%
Trading account assets		1,421,895			39,016	3.67	%		1,413,882			42,259	4.00	%
Securities:
Taxable securities		16,835,535			616,154	4.89	%		17,175,282			653,374	5.09	%
Tax-exempt		738,264			46,713	8.45	%		741,012			48,452	8.74	%
Loans held for sale		611,101			27,110	5.93	%		1,833,863			100,861	7.35	%
Loans held for sale-divestitures		—			—	—			379,302			21,520	7.59	%
Margin receivables		568,124			17,100	4.02	%		536,021			27,653	6.90	%
Loans, net of unearned income (2)		97,086,631			4,231,177	5.82	%		94,233,255			5,224,248	7.41	%
Total interest-earning assets		118,366,294			5,009,686	5.65	%		117,479,572			6,172,399	7.02	%
Allowance for loan losses		(1,398,405	)						(1,060,347	)
Cash and due from banks		2,530,118							2,854,408
Other non-earning assets		23,063,405							19,500,636
	$	142,561,412						$	138,774,269
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	3,761,329		$	3,278	0.12	%	$	3,840,451		$	8,643	0.30	%
Interest-bearing transaction accounts		15,280,788			107,111	0.94	%		15,729,996			247,296	2.10	%
Money market accounts		18,214,481			238,276	1.75	%		19,510,995			488,612	3.50	%
Time deposits		29,892,359			881,237	3.94	%		30,292,269			1,027,199	3.35	%
Foreign deposits		5,408,096			86,710	2.14	%		7,162,517			254,442	4.53	%
Interest-bearing deposits - divestitures		—			—	—			500,276			12,091	4.75	%
Total interest-bearing deposits		72,557,053			1,316,612	2.42	%		77,036,504			2,038,283	3.54	%
Federal funds purchased and securities sold under agreement to repurchase		8,785,048			158,890	2.42	%		7,919,188			285,285	4.82	%
Other short-term borrowings		6,838,507			141,047	2.76	%		2,018,881			67,105	4.44	%
Long-term borrowings		12,650,400			446,529	4.71	%		9,240,605			395,668	5.72	%
Total interest-bearing liabilities		100,831,008			2,063,078	2.73	%		96,215,178			2,786,341	3.87	%
Net interest spread						2.92	%						3.15	%
Non-interest bearing deposits		17,702,455							19,256,294
Other liabilities		4,248,341							3,209,836
Stockholders’ equity		19,779,608							20,092,961
	$	142,561,412						$	138,774,269
Net interest income/margin FTE basis				$	2,946,608	3.33	%				$	3,386,058	3.85	%

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

(2) 2008 loan income includes a $43.1 million reduction for the impact of a leveraged lease tax settlement. The yield on loans adjusted to exclude the settlement would be 5.88%

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 8

Regions Financial Corporation and Subsidiaries

Selected Ratios

	As of and for Quarter Ended
	9/30/08			6/30/08			3/31/08			12/31/07			9/30/07
Return on average assets*		0.22	%		0.58	%		0.95	%		0.20	%		1.14	%
Return on average equity*		1.60	%		4.20	%		6.82	%		1.41	%		7.90	%
Return on average tangible equity*		4.20	%		10.98	%		17.84	%		3.67	%		20.14	%
Stockholders’ equity per share	$	28.48		$	28.37		$	28.82		$	28.58		$	28.46
Tangible book value per share	$	10.86		$	10.80		$	11.20		$	10.92		$	10.88
Stockholders’ equity to total assets		13.66	%		13.65	%		13.88	%		14.05	%		14.36	%
Tangible stockholders’ equity to tangible assets		5.69	%		5.67	%		5.90	%		5.88	%		6.02	%
Tangible stockholders’ equity to tangible assets (excluding other comprehensive income)		5.64	%		5.64	%		5.64	%		5.72	%		6.06	%
Tier 1 Capital (2)		7.47	%		7.48	%		7.30	%		7.29	%		7.73	%
Total Risk-Based Capital (2)		11.70	%		11.77	%		11.07	%		11.25	%		11.30	%
Allowance for credit losses as a percentage of loans, net of unearned income (1)		1.57	%		1.56	%		1.49	%		1.45	%		1.19	%
Allowance for loan losses as a percentage of loans, net of unearned income		1.49	%		1.50	%		1.43	%		1.39	%		1.13	%
Net interest margin (FTE) (4)		3.10	%		3.36	%		3.53	%		3.61	%		3.74	%
Loans, net of unearned income, to total deposits		110.64	%		109.30	%		108.07	%		100.64	%		101.00	%
Net charge-offs as a percentage of average loans* (3)		1.68	%		0.86	%		0.53	%		0.45	%		0.27	%
Total non-performing assets (excluding loans 90 days past due) as a percentage of loans and other real estate (5)		1.66	%		1.65	%		1.25	%		0.90	%		0.62	%
Total non-performing assets (including loans 90 days past due) as a percentage of loans and other real estate (5)		2.12	%		2.08	%		1.73	%		1.28	%		0.97	%
NPAs + loans held for sale (exc. 90+ past due)/Loans and foreclosed properties		1.79	%		1.65	%		1.25	%		0.90	%		0.65	%

* 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

(2) Current quarter Tier 1 and Total Risk-based Capital ratios are estimated

(3) 3Q08 includes 65 bps related to losses on loan dispositions or transfers to held for sale during the quarter

(4) 3Q08 lower by 14 bps resulting from the impact of a leveraged lease tax settlement in the quarter

(5) Excludes loans held for sale

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 9

Loans (1)

Loan Portfolio - Period End Data

($ amounts in thousands)
	9/30/08		6/30/08		3/31/08		12/31/07		9/30/07		9/30/08 vs. 6/30/08*					9/30/08 vs. 9/30/07
Commercial	$	23,511,223	$	23,241,719	$	21,721,738	$	20,906,617	$	23,565,882	$	269,504		4.6	%	$	(54,659	)	-0.2	%
Real estate- mortgage		40,477,318		40,251,729		40,553,066		39,343,128		35,337,366		225,589		2.2	%		5,139,952		14.5	%
Real estate- construction		13,053,627		13,133,258		12,866,630		14,025,491		14,237,083		(79,631	)	-2.4	%		(1,183,456	)	-8.3	%
Home equity lending		15,848,994		15,446,740		15,034,850		14,962,007		14,835,319		402,254		10.4	%		1,013,675		6.8	%
Indirect lending		4,211,078		4,145,457		3,961,782		3,938,113		4,015,142		65,621		6.3	%		195,936		4.9	%
Other consumer		1,609,570		2,047,676		2,247,365		2,203,491		2,382,840		(438,106	)	-85.1	%		(773,270	)	-32.5	%
	$	98,711,810	$	98,266,579	$	96,385,431	$	95,378,847	$	94,373,632	$	445,231		1.8	%	$	4,338,178		4.6	%

Loan Portfolio - Average Balances

($ amounts in thousands)
	3Q08		2Q08		1Q08		4Q07		3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Commercial	$	22,915,564	$	22,403,228	$	21,168,719	$	22,913,251	$	24,146,621	$	512,336		9.1	%	$	(1,231,057	)	-5.1	%
Real estate- mortgage		40,311,826		40,334,447		40,061,102		36,660,193		34,923,454		(22,621	)	-0.2	%		5,388,372		15.4	%
Real estate- construction		13,240,658		13,136,168		13,193,638		14,104,126		14,232,360		104,490		3.2	%		(991,702	)	-7.0	%
Home equity lending		15,659,363		15,252,902		14,997,750		14,888,685		14,774,085		406,461		10.6	%		885,278		6.0	%
Indirect lending		4,214,428		4,038,990		3,954,999		3,975,744		4,044,072		175,438		17.3	%		170,356		4.2	%
Other consumer		1,991,418		2,028,615		2,342,378		2,241,955		2,189,219		(37,197	)	-7.3	%		(197,801	)	-9.0	%
	$	98,333,257	$	97,194,350	$	95,718,586	$	94,783,954	$	94,309,811	$	1,138,907		4.7	%	$	4,023,446		4.3	%

(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

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 10

Deposits (1)

Deposit Portfolio - Period End Data
($ amounts in thousands)
	9/30/08		6/30/08		3/31/08		12/31/07		9/30/07		9/30/08 vs. 6/30/08*					9/30/08 vs. 9/30/07
Interest-Free Deposits	$	18,044,840	$	18,334,239	$	18,182,582	$	18,417,266	$	18,834,856	$	(289,399	)	-6.3	%	$	(790,016	)	-4.2	%
Interest-Bearing Checking		14,616,324		15,380,301		15,603,984		15,846,139		15,208,224		(763,977	)	-19.8	%		(591,900	)	-3.9	%
Savings		3,708,541		3,819,138		3,792,550		3,646,632		3,692,087		(110,597	)	-11.5	%		16,454		0.4	%
Money Market		17,098,015		17,993,169		18,649,389		18,934,309		19,694,280		(895,154	)	-19.8	%		(2,596,265	)	-13.2	%
Money Market - Foreign		2,454,107		3,122,234		3,089,721		3,482,603		3,807,196		(668,127	)	-85.1	%		(1,353,089	)	-35.5	%
Total Low-Cost Deposits		55,921,827		58,649,081		59,318,226		60,326,949		61,236,643		(2,727,254	)	-18.5	%		(5,314,816	)	-8.7	%
Time Deposits		30,410,918		30,462,142		29,463,183		29,298,845		27,744,788		(51,224	)	-0.7	%		2,666,130		9.6	%
Other Foreign Deposits		2,887,803		792,426		406,000		5,149,174		4,458,499		2,095,377		1052.0	%		(1,570,696	)	-35.2	%
	$	89,220,548	$	89,903,649	$	89,187,409	$	94,774,968	$	93,439,930	$	(683,101	)	-3.0	%	$	(4,219,382	)	-4.5	%
Deposit Portfolio - Average Balances
($ amounts in thousands)
	3Q08		2Q08		1Q08		4Q07		3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Interest-Free Deposits	$	17,690,915	$	17,814,075	$	17,602,501	$	18,249,585	$	18,850,607	$	(123,160	)	-2.8	%	$	(1,159,692	)	-6.2	%
Interest-Bearing Checking		14,830,665		15,396,516		15,620,128		15,029,192		15,268,807		(565,851	)	-14.6	%		(438,142	)	-2.9	%
Savings		3,774,330		3,810,211		3,699,304		3,669,700		3,756,311		(35,881	)	-3.7	%		18,019		0.5	%
Money Market		17,534,433		18,314,710		18,801,773		19,290,437		19,883,326		(780,277	)	-16.9	%		(2,348,893	)	-11.8	%
Money Market - Foreign		2,859,674		3,112,534		3,213,214		3,851,065		3,969,910		(252,860	)	-32.3	%		(1,110,236	)	-28.0	%
Total Low-Cost Deposits		56,690,017		58,448,046		58,936,920		60,089,979		61,728,961		(1,758,029	)	-12.0	%		(5,038,944	)	-8.2	%
Time Deposits		30,167,854		29,932,613		29,573,584		28,588,955		28,713,151		235,241		3.1	%		1,454,703		5.1	%
Other Foreign Deposits		1,732,776		2,522,836		2,792,216		5,361,590		3,496,852		(790,060	)	-124.6	%		(1,764,076	)	-50.4	%
	$	88,590,647	$	90,903,495	$	91,302,720	$	94,040,524	$	93,938,964	$	(2,312,848	)	-10.1	%	$	(5,348,317	)	-5.7	%

(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

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 11

Operating Revenue from Continuing Operations (1)

Revenue
($ amounts in thousands)	3Q08		2Q08		1Q08		4Q07		3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Net Interest Income (TE basis)	$	930,602	$	989,522	$	1,026,484	$	1,050,419	$	1,086,575	$	(58,920	)	-23.7	%	$	(155,973	)	-14.4	%
Non-Interest Income (excl. sec. gains/losses)		719,221		743,248		816,660		733,023		705,150		(24,027	)	-12.9	%		14,071		2.0	%
Total Revenue (excl. sec. gains/losses, TE basis)	$	1,649,823	$	1,732,770	$	1,843,144	$	1,783,442	$	1,791,725	$	(82,947	)	-19.0	%	$	(141,902	)	-7.9	%

(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 3.10% in 3Q08 compared to 3.36% in 2Q08, with 14 bps of the decline due to the impact of the leveraged lease tax settlement

• Regions’ balance sheet positioning is moderately asset-sensitive as of September 30, 2008

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 12

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

Non-interest Income and Expense
Non-interest Income ($ amounts in thousands)	3Q08		2Q08			1Q08		4Q07			3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Service charges on deposit accounts	$	294,038	$	294,182		$	271,613	$	292,709		$	288,296	$	(144	)	-0.2	%	$	5,742		2.0	%
Brokerage and investment banking		240,839		271,679			272,554		253,822			227,613		(30,840	)	-45.2	%		13,226		5.8	%
Trust department income		66,473		58,537			56,938		60,798			62,449		7,936		53.9	%		4,024		6.4	%
Mortgage income		33,030		24,926			45,620		28,047			29,806		8,104		129.3	%		3,224		10.8	%
Securities gains (losses), net		43		(28	)		91,643		(45	)		23,994		71		NM			(23,951	)	-99.8	%
Insurance income		26,007		26,818			30,899		23,320			23,340		(811	)	-12.0	%		2,667		11.4	%
Other		58,834		67,106			139,036		74,327			73,646		(8,272	)	-49.0	%		(14,812	)	-20.1	%
Total non-interest income	$	719,264	$	743,220		$	908,303	$	732,978		$	729,144	$	(23,956	)	-12.8	%	$	(9,880	)	-1.4	%
Non-interest Expense**
($ amounts in thousands)	3Q08		2Q08			1Q08		4Q07			3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Salaries and employee benefits (w/o merger)	$	527,356	$	552,047		$	581,398	$	581,635		$	566,614	$	(24,691	)	-17.8	%	$	(39,258	)	-6.9	%
Net occupancy expense		110,595		109,525			105,266		102,361			99,325		1,070		3.9	%		11,270		11.3	%
Furniture and equipment expense		85,375		79,993			79,380		78,669			72,185		5,382		26.8	%		13,190		18.3	%
Impairment (recapture) of MSR’s		11,000		(67,000	)		42,000		23,000			20,000		78,000		NM			(9,000	)	-45.0	%
Loss on early extinguishment of debt		—		—			65,405		—			—		—		NM			—		NM
Professional fees		50,316		48,752			32,395		43,212			27,533		1,564		12.8	%		22,783		82.7	%
Marketing expense		23,265		19,021			20,784		29,062			20,756		4,244		88.8	%		2,509		12.1	%
Amortization of core deposit intangibles		33,011		34,013			35,045		42,100			37,432		(1,002	)	-11.7	%		(4,421	)	-11.8	%
Amortization of MSR’s		12,881		22,057			24,292		21,183			17,308		(9,176	)	-165.5	%		(4,427	)	-25.6	%
Other real estate owned expense		43,468		20,109			6,945		8,965			2,250		23,359		NM			41,218		NM
Other		205,849		221,799			181,751		267,907			190,206		(15,950	)	-28.6	%		15,643		8.2	%
Total non-interest expense, excluding merger charges		1,103,116		1,040,316			1,174,661		1,198,094			1,053,609		62,800		24.0	%		49,507		4.7	%
Merger-related charges		24,515		100,058			75,598		150,162			91,785		(75,543	)	-300.4	%		(67,270	)	-73.3	%
Total non-interest expense	$	1,127,631	$	1,140,374		$	1,250,259	$	1,348,256		$	1,145,394	$	(12,743	)	-4.4	%	$	(17,763	)	-1.6	%

(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

• 3Q08 linked-quarter decrease in brokerage income impacted by softness in fixed-income and equity capital markets revenues - a result of overall market uncertainty and decline in equity underwriting

• Trust income increased $7.9 million linked quarter, primarily due to fees from energy-related brokered transactions

• Mortgage income linked-quarter comparison reflects $15 million loss on sale of mortgage servicing rights recorded in 2Q08

• 1Q08 other non-interest income reflects a $62.8 million gain on the redemption of Visa shares

• Non-interest expense, excluding MSR impairment and recapture, declined 5% linked-quarter annualized

• 3Q08 salaries and benefits cost decreased $24.7 million versus prior quarter as a result of continued personnel-related efficiencies as well as reduced incentives

• Decline in 3Q08 amortization of mortgage servicing rights is due to a change in the interest rate environment and a sale of a GNMA servicing rights portfolio in the previous quarter

• 3Q08 other real estate owned expense increased $23 million driven by losses related to the continued decline in the housing market

• Other non-interest expense reflects losses on Morgan Keegan Mutual Funds totaling $8.8 million, $13.4 million, $25.4, million and $38.5 million, for 3Q08, 2Q08, 1Q08 and 4Q07, respectively

• 1Q08 includes $28.4 million Visa litigation expense reduction related to Visa’s IPO. Also included in other non-interest expense during 1Q08 is an $11.4 million annual subsidiary dividend payment.

• 4Q07 other non-interest expense includes a $51.5 million charge related to Regions’ ownership interest in the Visa antitrust lawsuit settlements and other related litigation

• Merger-related and other cost saves of $202 million, $165 million, $140 million, $108 million, and $102 million are reflected in 3Q08, 2Q08, 1Q08, 4Q07 and 3Q07 non-interest expense, respectively

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 13

Morgan Keegan

Morgan Keegan

Summary Income Statement (excluding merger-related charges)

($ amounts in thousands)	3Q08		2Q08		1Q08		4Q07		3Q07		3Q08 vs. 2Q08*					3Q08 vs. 3Q07
Revenues:
Commissions	$	60,725	$	64,615	$	67,801	$	82,502	$	82,071	$	(3,890	)	-24.0	%	$	(21,346	)	-26.0	%
Principal transactions		46,312		52,615		70,045		56,216		43,916		(6,303	)	-47.7	%		2,396		5.5	%
Investment banking		41,000		70,587		55,010		57,192		48,958		(29,587	)	-166.8	%		(7,958	)	-16.3	%
Interest		21,890		27,143		29,454		33,772		35,388		(5,253	)	-77.0	%		(13,498	)	-38.1	%
Trust fees and services		65,688		56,850		54,085		56,736		55,803		8,838		61.8	%		9,885		17.7	%
Investment advisory		49,446		54,685		52,432		52,168		42,146		(5,239	)	-38.1	%		7,300		17.3	%
Other		8,193		12,790		10,423		12,357		10,134		(4,597	)	-143.0	%		(1,941	)	-19.2	%
Total revenues		293,254		339,285		339,250		350,943		318,416		(46,031	)	-54.0	%		(25,162	)	-7.9	%
Expenses:
Interest expense		11,380		11,644		15,470		19,790		21,790		(264	)	-9.0	%		(10,410	)	-47.8	%
Non-interest expense		232,630		266,937		274,738		291,022		225,469		(34,307	)	-51.1	%		7,161		3.2	%
Total expenses		244,010		278,581		290,208		310,812		247,259		(34,571	)	-49.4	%		(3,249	)	-1.3	%
Income before income taxes		49,244		60,704		49,042		40,131		71,157		(11,460	)	-75.1	%		(21,913	)	-30.8	%
Income taxes		18,262		22,463		18,069		15,068		26,000		(4,201	)	-74.4	%		(7,738	)	-29.8	%
Net income1	$	30,982	$	38,241	$	30,973	$	25,063	$	45,157	$	(7,259	)	-75.5	%	$	(14,175	)	-31.4	%

¹ 2Q08 and 1Q08 net income do not include merger-related charges of $0.5 million and $17.2 million pre-tax, or $0.3 million and $11.0 million after-tax, respectively.

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 September 30, 2008:
$ amount of revenue	$	82,269		$	73,237		$	24,118		$	65,688		$	46,624		$	1,318
% of gross revenue		28.1	%		25.0	%		8.2	%		22.4	%		15.9	%		0.4	%
Three months ended June 30, 2008:
$ amount of revenue	$	87,079		$	97,488		$	33,531		$	56,851		$	42,819		$	21,517
% of gross revenue		25.7	%		28.7	%		9.9	%		16.8	%		12.6	%		6.3	%
Nine months ended September 30, 2008:
$ amount of revenue	$	258,178		$	260,177		$	104,962		$	176,620		$	131,221		$	40,631
% of gross revenue		26.6	%		26.8	%		10.8	%		18.2	%		13.5	%		4.2	%
Nine months ended September 30, 2007:
$ amount of revenue	$	294,506		$	164,863		$	73,349		$	169,110		$	138,839		$	108,582
% of gross revenue		31.0	%		17.4	%		7.7	%		17.8	%		14.6	%		11.5	%

* Linked quarter percentage changes are presented on an annualized basis

• 3Q08 investment banking revenues declined $29.6 million linked-quarter as compared to an especially strong 2Q08. In addition, 3Q08 revenues were impacted by closed credit markets and upheaval in the domestic and foreign markets.

• Trust fees and services revenues were strong in 3Q08, reflecting an increase in energy-related brokered transactions

• Non-interest expenses declined linked-quarter, reflecting lower compensation levels tied to the current environment

• Private Client revenues declined in the quarter, with increased unemployment and significant declines in property values; retail investors reluctant to make investment decisions in current market conditions

• Fixed-income Capital Markets revenues were lower in 3Q08 as a result of near-complete dislocation of capital markets

• Equity Capital Markets revenues declined on a linked-quarter basis, due to unprecedented fluctuations in the financial markets limiting client investment activity

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 14

Credit Quality (1)

Credit Quality

	As of and for Quarter Ended															YTD
($ in thousands)	9/30/08			6/30/08			3/31/08			12/31/07			9/30/07			9/30/08			9/30/07
Allowance for credit losses (ACL)	$	1,546,363		$	1,536,346		$	1,432,271		$	1,379,498		$	1,126,554		$	1,546,363		$	1,126,554
Provision for loan losses from continuing operations	$	417,000		$	309,000		$	181,000		$	358,000		$	90,000		$	907,000		$	197,000
Provision for unfunded credit losses	$	9,401		$	9,036		$	(2,469	)	$	2,416		$	(518	)	$	15,968		$	4,003
Net loans charged-off:*
Commercial	$	51,274		$	26,351		$	49,570		$	34,742		$	19,161		$	127,195		$	38,611
Real estate - mortgage		77,645			43,351			20,497			20,409			6,392			141,493			28,932
Real estate - construction		198,676			46,036			13,138			16,036			5,230			257,850			14,511
Home equity lending		62,540			73,406			21,072			11,513			11,701			157,018			29,161
Indirect lending		10,173			8,038			8,381			7,752			4,395			26,592			12,786
Other consumer		16,076			11,769			13,100			17,020			16,242			40,945			39,049
Total	$	416,384		$	208,951		$	125,758		$	107,472		$	63,121		$	751,093		$	163,050
Net loan charge-offs as a % of average loans, annualized *
Commercial		0.89	%		0.47	%		0.94	%		0.60	%		0.31	%		0.76	%		0.21	%
Real estate - mortgage		0.77	%		0.43	%		0.21	%		0.22	%		0.07	%		0.47	%		0.11	%
Real estate - construction		5.97	%		1.41	%		0.40	%		0.45	%		0.15	%		2.60	%		0.14	%
Home equity lending		1.59	%		1.94	%		0.57	%		0.31	%		0.31	%		1.37	%		0.26	%
Indirect lending		0.96	%		0.80	%		0.85	%		0.77	%		0.43	%		0.87	%		0.42	%
Other consumer		3.21	%		2.33	%		2.25	%		3.01	%		2.94	%		2.57	%		2.37	%
Total		1.68	%		0.86	%		0.53	%		0.45	%		0.27	%		1.03	%		0.23	%
Non-performing assets (NPAs):
Non-accrual loans*	$	1,440,623		$	1,410,504		$	1,024,201		$	743,589		$	494,693
Foreclosed properties		201,345			210,330			180,228			120,465			93,649
Non-performing assets without loans held for sale	$	1,641,968		$	1,620,834		$	1,204,429		$	864,054		$	588,342
Non-performing assets held for sale		128,771			8,615			—			—			24,066
Non-performing assets including loans held for sale	$	1,770,739		$	1,629,449		$	1,204,429		$	864,054		$	612,408
Loans past due > 90 days*	$	457,090		$	431,958		$	467,375		$	356,685		$	332,116
Restructured loans not included in categories above	$	138,688		$	101,559			—			—			—
Credit Ratios:
ACL/Loans, net		1.57	%		1.56	%		1.49	%		1.45	%		1.19	%
ALL/Loans, net		1.49	%		1.50	%		1.43	%		1.39	%		1.13	%
NPAs (ex. 90+ past due)/Loans and foreclosed properties - excludes loans held for sale		1.66	%		1.65	%		1.25	%		0.90	%		0.62	%
NPAs (ex. 90+ past due)/Loans and foreclosed properties - including loans held for sale		1.79	%		1.65	%		1.25	%		0.90	%		0.65	%
NPAs (inc. 90+ past due)/Loans and foreclosed properties - excludes loans held for sale		2.12	%		2.08	%		1.73	%		1.28	%		0.97	%

* See page 15 for loan portfolio (risk view) breakout

Allowance for Credit Losses

	Nine Months Ended September 30
($ amounts in thousands)	2008			2007
Balance at beginning of year	$	1,379,498		$	1,107,788
Net loans charged-off		(751,093	)		(163,050	)
Allowance allocated to sold loans		(5,010	)		(19,369	)
Provision for loan losses, from continuing operations		907,000			197,000
Provision for loan losses, from discontinued operations		—			182
Provision for unfunded credit commitments		15,968			4,003
Balance at end of period	$	1,546,363		$	1,126,554
Components:
Allowance for loan losses	$	1,472,141		$	1,070,716
Reserve for unfunded credit commitments		74,222			55,838
Allowance for credit losses	$	1,546,363		$	1,126,554

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

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 15

Loan Portfolio - Risk View

Total Loan Portfolio and Net Charge-offs

	Ending Balance								% of Total Loans								Net Charge-offs								% of Loans**
($ in thousands)	3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	19,221,577	$	18,952,630	$	17,463,045	$	16,533,176	19	%	19	%	18	%	17	%	$	28,316	$	7,374	$	27,828	$	24,784	0.61	%	0.16	%	0.67	%	0.49	%
Commercial Real Estate -Owner-Occupied Mortgages		4,450,665		4,450,461		4,543,263		4,436,631	5	%	5	%	5	%	5	%		7,918		7,866		4,433		2,643	0.72	%	0.70	%	0.40	%	0.13	%
Total Commercial		23,672,242		23,403,091		22,006,308		20,969,807	24	%	24	%	23	%	22	%		36,234		15,240		32,261		27,427	0.63	%	0.27	%	0.61	%	0.39	%
Commercial Real Estate (1)
CRE -Non-Owner-Occupied Mortgages		9,384,838		9,063,826		9,063,831		8,057,504	10	%	9	%	9	%	8	%		48,920		22,320		5,247		9,903	2.11	%	0.99	%	0.24	%	0.73	%
Non-Owner Occupied Construction		10,225,587		10,221,057		n/a		n/a	10	%	10	%	n/a		n/a			188,898		n/a		n/a		n/a	7.52	%	n/a		n/a		n/a
Owner Occupied Construction		1,551,670		1,498,001		n/a		n/a	2	%	2	%	n/a		n/a			4,990		n/a		n/a		n/a	1.06	%	n/a		n/a		n/a
Construction		11,777,257		11,719,058		11,460,090		12,893,068	12	%	12	%	12	%	14	%		193,888		44,929		12,666		16,111	6.50	%	1.55	%	0.44	%	0.48	%
Total Commercial Real Estate		21,162,095		20,782,884		20,523,921		20,950,572	22	%	21	%	21	%	22	%		242,807		67,249		17,913		26,014	4.58	%	1.31	%	0.35	%	0.55	%
Business and Community Banking (1)
Commercial and Industrial		4,289,646		4,289,088		n/a		n/a	4	%	4	%	n/a		n/a			22,957		18,977		n/a		n/a	2.12	%	1.78	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		6,695,615		6,487,044		n/a		n/a	7	%	7	%	n/a		n/a			1,052		1,083		n/a		n/a	0.06	%	0.07	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		3,755,489		3,786,299		n/a		n/a	4	%	4	%	n/a		n/a			1,389		580		n/a		n/a	0.15	%	0.06	%	n/a		n/a
Non-Owner Occupied Construction		589,001		681,474		n/a		n/a	0	%	0	%	n/a		n/a			4,605		n/a		n/a		n/a	2.76	%	n/a		n/a		n/a
Owner Occupied Construction		687,333		732,636		n/a		n/a	0	%	0	%	n/a		n/a			183		n/a		n/a		n/a	0.10	%	n/a		n/a		n/a
Construction		1,276,334		1,414,110		n/a		n/a	1	%	1	%	n/a		n/a			4,788		1,108		n/a		n/a	1.38	%	0.30	%	n/a		n/a
Total Business and Community Banking		16,017,084		15,976,541		16,045,530		15,540,443	16	%	16	%	17	%	16	%		30,186		21,748		23,568		10,313	0.75	%	0.55	%	0.59	%	0.39	%
Residential First Mortgage
Alt-A		2,615,498		2,660,288		2,743,467		2,830,062	3	%	3	%	3	%	3	%		3,968		2,978		2,106		1,822	0.60	%	0.45	%	0.31	%	0.26	%
Residential First Mortgage		13,575,213		13,803,811		14,019,883		14,129,484	14	%	14	%	14	%	15	%		14,400		8,523		7,356		5,611	0.42	%	0.25	%	0.21	%	0.16	%
Total Residential First Mortgage		16,190,711		16,464,099		16,763,350		16,959,546	17	%	17	%	17	%	18	%		18,368		11,501		9,462		7,433	0.45	%	0.28	%	0.23	%	0.18	%
Consumer
Home Equity Lending		15,848,995		15,446,740		15,034,850		14,962,007	16	%	16	%	16	%	16	%		62,540		73,406		21,072		11,513	1.59	%	1.94	%	0.57	%	0.31	%
Indirect Lending		4,211,078		4,145,457		3,961,782		3,938,113	4	%	4	%	4	%	4	%		10,173		8,037		8,381		7,752	0.96	%	0.80	%	0.85	%	0.77	%
Direct Lending		872,924		927,865		974,684		1,066,184	1	%	1	%	1	%	1	%		2,996		2,641		2,361		2,911	1.33	%	1.11	%	0.94	%	1.09	%
Other Consumer		736,681		1,119,902		1,075,006		992,175	1	%	1	%	1	%	1	%		13,080		9,129		10,740		14,109	4.76	%	3.41	%	3.74	%	5.21	%
Total Other Consumer		21,669,678		21,639,964		21,046,322		20,958,479	22	%	22	%	22	%	22	%		88,789		93,213		42,554		36,285	1.62	%	1.76	%	0.81	%	0.69	%
Total Loans	$	98,711,810	$	98,266,579	$	96,385,431	$	95,378,847	100	%	100	%	100	%	100	%	$	416,384	$	208,951	$	125,758	$	107,472	1.68	%	0.86	%	0.53	%	0.45	%

90+ Days Past Due Loans and Non-accrual Loans

	90+ Past Due								% of Loans**								Non-accrual loans								% of Loans**
($ in thousands)	3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	1,907	$	3,977	$	28,405	$	5,984	0.01	%	0.02	%	0.16	%	0.04	%	$	161,815	$	132,480	$	89,412	$	55,355	0.84	%	0.70	%	0.51	%	0.33	%
Commercial Real Estate -Owner-Occupied		317		1,635		2,475		1,112	0.01	%	0.04	%	0.05	%	0.03	%		148,597		138,044		110,579		105,494	3.34	%	3.10	%	2.43	%	2.38	%
Total Commercial		2,224		5,612		30,880		7,096	0.01	%	0.02	%	0.14	%	0.03	%		310,412		270,524		199,991		160,849	1.31	%	1.16	%	0.91	%	0.77	%
Commercial Real Estate (1)
CRE - Non-Owner-Occupied Mortgages		7,662		3,786		17,732		7,625	0.08	%	0.04	%	0.20	%	0.09	%		352,503		274,664		207,907		148,539	3.76	%	3.03	%	2.29	%	1.84	%
Non-Owner Occupied Construction		357		14,712		n/a		n/a	0.00	%	0.14	%	n/a		n/a			518,256		640,303		n/a		n/a	5.07	%	6.26	%	n/a		n/a
Owner Occupied Construction		4,310		2,662		n/a		n/a	0.28	%	0.18	%	n/a		n/a			27,407		28,626		n/a		n/a	1.77	%	1.91	%	n/a		n/a
Construction		4,667		17,374		10,782		18,535	0.04	%	0.15	%	0.09	%	0.14	%		545,663		668,929		446,861		304,941	4.63	%	5.71	%	3.90	%	2.37	%
Total Commercial Real Estate		12,329		21,160		28,514		26,160	0.06	%	0.10	%	0.14	%	0.12	%		898,166		943,593		654,768		453,480	4.24	%	4.54	%	3.19	%	2.16	%
Business and Community Banking (1)
Commercial and Industrial		8,422		6,551		n/a		n/a	0.20	%	0.15	%	n/a		n/a			52,994		48,908		n/a		n/a	1.24	%	1.14	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		4,969		5,721		n/a		n/a	0.07	%	0.09	%	n/a		n/a			47,698		37,672		n/a		n/a	0.71	%	0.58	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		2,469		4,698		n/a		n/a	0.07	%	0.12	%	n/a		n/a			25,478		18,459		n/a		n/a	0.68	%	0.49	%	n/a		n/a
Non-Owner Occupied Construction		674		58		n/a		n/a	0.11	%	0.01	%	n/a		n/a			4,237		2,960		n/a		n/a	0.72	%	0.43	%	n/a		n/a
Owner Occupied Construction		3,104		410		n/a		n/a	0.45	%	0.06	%	n/a		n/a			4,877		4,193		n/a		n/a	0.71	%	0.57	%	n/a		n/a
Construction		3,778		468		n/a		n/a	0.30	%	0.03	%	n/a		n/a			9,114		7,153		n/a		n/a	0.71	%	0.51	%	n/a		n/a
Total Business and Community Banking		19,638		17,438		19,960		10,638	0.12	%	0.11	%	0.12	%	0.07	%		135,284		112,192		100,991		75,930	0.84	%	0.70	%	0.63	%	0.49	%
Residential First Mortgage
Alt-A		95,966		79,658		67,275		41,125	3.67	%	2.99	%	2.45	%	1.45	%		24,285		20,259		14,271		8,534	0.93	%	0.76	%	0.52	%	0.30	%
Residential First Mortgage		144,285		130,794		118,654		113,281	1.06	%	0.95	%	0.85	%	0.80	%		70,116		50,285		41,750		38,177	0.52	%	0.36	%	0.30	%	0.27	%
Total Residential First Mortgage		240,251		210,452		185,929		154,406	1.48	%	1.28	%	1.11	%	0.91	%		94,401		70,544		56,021		46,711	0.58	%	0.43	%	0.33	%	0.28	%
Consumer
Home Equity Lending		172,894		166,816		192,836		146,808	1.09	%	1.08	%	1.28	%	0.98	%		2,226		13,335		12,428		6,611	0.01	%	0.09	%	0.08	%	0.04	%
Indirect Lending		4,228		4,581		4,233		6,002	0.10	%	0.11	%	0.11	%	0.15	%		15		—		1		8	0.00	%	0.00	%	0.00	%	0.00	%
Direct Lending		2,672		2,507		2,971		2,997	0.31	%	0.27	%	0.30	%	0.28	%		30		315		1		—	0.00	%	0.03	%	0.00	%	0.00	%
Other Consumer		2,854		3,392		2,052		2,578	0.39	%	0.30	%	0.19	%	0.26	%		89		1		—		—	0.01	%	0.00	%	0.00	%	0.00	%
Total Other Consumer		182,648		177,296		202,092		158,385	0.84	%	0.82	%	0.96	%	0.76	%		2,360		13,651		12,430		6,619	0.01	%	0.06	%	0.06	%	0.03	%
Total Loans	$	457,090	$	431,958	$	467,375	$	356,685	0.46	%	0.44	%	0.48	%	0.37	%	$	1,440,623	$	1,410,504	$	1,024,201	$	743,589	1.46	%	1.44	%	1.06	%	0.78	%

** Percentage of related loan category outstandings

Note: 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-offs also impacted by reclass)

(1) Breakout for certain prior periods is not available

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 16

Loan Portfolio Charge-off View(for the quarter ended 9/30/08)

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 17

Non-Owner Occupied Commercial Real Estate and Business and Community Banking Real Estate - $24 billion(as of 9/30/08)

Commercial Real Estate, including Business

and Community Banking - $24.0 Billion

Note: Shaded portion represents Business/Community Banking Commercial Real Estate

• Portfolio well-diversified by product type

• Includes $4.3 billion in Business and Community Banking Non-Owner Occupied Commercial Real Estate Loans which have different risk characteristics. They are underwritten not on a project basis but on the strength of the individual.

• Proactively reducing certain concentrations

• Land balances down $1.9 billion (30%) since December 2006

• Condominium balances down $1.2 billion (52%) since December 2006

Commercial Real Estate Non-Owner Occupied Construction - $10.2 billion (as of 9/30/08)

Commercial Real Estate Non-Owner Occupied

Construction - $10.2 Billion (subset of $24 Billion

Commercial Real Estate)

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 18

Residential Homebuilder Portfolio - $5.2 billion(as of 9/30/08)

Portfolio Breakout by Category

($ in millions)

Geographic Breakout

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
	$		%*	$		%*	$		%*	$		%*	$		%*	$		%*
Charge-offs		27,394	9.82		13,172	11.46		39,878	10.54		50,775	10.98		5,627	7.71		136,846	10.47
90+ Past Due		5,742	2.06		206	0.18		1,136	0.30		135	0.03		—	—		7,219	0.55
Non-Accruing Loans		122,705	43.98		42,067	36.61		169,739	44.85		175,724	38.02		46,696	64.00		556,931	42.59
Average Note Size:
Total Portfolio		235	—		380	—		259	—		751	—		839	—		358	—
Central		203	—		192	—		208	—		714	—		334	—		280	—
Florida		519	—		1,094	—		559	—		2,008	—		—	—		905	—
Outstandings	$	1,109,921		$	457,097		$	1,505,731		$	1,838,899		$	290,279		$	5,201,927

* Percentage of related product outstandings; annualized

• Average note size of the homebuilder portfolio is $358,000

• Non-accruing loans represent 10.7 percent of the total homebuilder portfolio with the highest concentrations in the Florida and Central (mainly Atlanta) regions

• $5.2 billion residential homebuilder portfolio is a subset of the Commercial Real Estate portfolio (p. 17) with the majority of the residential homebuilder portfolio found in land and single family sectors

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 19

Consumer Real Estate - $32 billion(as of 9/30/08)

			Wgtd Avg.		Wgtd Avg.	Avg. Loan		% in 1st
	Outstandings*		LTV		FICO	Size		Lien
Home Equity Lending	$	15,848,995	74	%	736	$	74,127	42	%
Residential 1st Mortgage		13,575,213	67	%	725		176,477	99	%
Alt-A		2,615,498	71	%	701		179,266	100	%
Total Consumer RE Portfolio	$	32,039,706	71	%	729	$	120,292	71	%

* $ in thousands

Note: Pie chart represents entire loan portfolio

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 20

Home Equity Lending Net Charge-off Analysis

					3Q08									2Q08									1Q08									4Q07
($ in millions)		1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total
Florida	Net Charge-off %*		1.48	%		4.28	%		3.28	%		1.37	%		4.74	%		3.55	%		0.67	%		1.07	%		0.94	%		0.40	%		0.23	%		0.29	%
	$ Losses	$	7.2		$	37.8		$	45.0		$	6.3		$	40.2		$	46.5		$	2.8		$	8.9		$	11.7		$	1.9		$	2.1		$	4.0
	Balance	$	1,994.6		$	3,578.8		$	5,573.4		$	1,922.2		$	3,448.0		$	5,370.2		$	1,713.2		$	3,396.2		$	5,109.4		$	1,674.4		$	3,285.3		$	4,959.7
	Original LTV		66.0	%		76.7	%		72.8	%
All Other States	Net Charge-off %*		0.39	%		0.93	%		0.69	%		0.60	%		1.47	%		1.08	%		0.25	%		0.48	%		0.38	%		0.28	%		0.36	%		0.33	%
	$ Losses	$	4.4		$	13.1		$	17.5		$	6.7		$	20.2		$	26.9		$	2.7		$	6.6		$	9.3		$	2.9		$	4.6		$	7.5
	Balance	$	4,584.2		$	5,691.4		$	10,275.6		$	4,524.2		$	5,552.2		$	10,076.5		$	4,348.5		$	5,576.9		$	9,925.4		$	4,394.3		$	5,608.0		$	10,002.3
	Original LTV		68.3	%		80.2	%		74.9	%
Totals	Net Charge-off %*		0.72	%		2.22	%		1.59	%		0.83	%		2.72	%		1.94	%		0.37	%		0.70	%		0.57	%		0.32	%		0.31	%		0.31	%
	$ Losses	$	11.6		$	50.9		$	62.5		$	13.0		$	60.4		$	73.4		$	5.6		$	15.5		$	21.1		$	4.8		$	6.7		$	11.5
	Balance	$	6,578.8		$	9,270.2		$	15,849.0		$	6,446.4		$	9,000.2		$	15,446.7		$	6,061.8		$	8,973.1		$	15,034.8		$	6,068.7		$	8,893.3		$	14,962.0
	Original LTV		67.6	%		78.8	%		74.1	%

• 23% Florida second lien concentration driving results

• Second lien, Florida net charge-offs represent 60% of 3Q08 net charge-offs but just 23% of outstanding balances

• Net charge-offs in Florida approximately 4.7 times non-Florida net charge-off rate

• Origination quality solid with an average FICO of 736 and an average LTV of 74%; Property value declines driving losses

Notes: * Recoveries are pro-rated based on charge-off balances.

* Net Charge-off percentages are calculated on average balances.

* Balances shown on an ending basis. Net loss rates calculated using average balances

* Original LTVs shown for current period only; prior period LTVs not materially different

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 21

Additional Financial and Operational Data

	9/30/08	6/30/08	3/31/08	12/31/07	9/30/07
Associate headcount	30,673	31,564	32,143	33,161	33,630
Authorized shares remaining under buyback program	23.1MM	23.1MM	23.1MM	23.1MM	27.6MM
Total branch outlets	1,940	1,936	1,938	1,965	2,022
ATMs	2,361	2,410	2,464	2,490	2,549
Morgan Keegan offices	360	378	397	416	430

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
Second Quarter 2008 *		100,058		—			100,058
Third Quarter 2008	$	24,515	$	—		$	24,515
Total	$	639,696	$	182,475		$	822,171

* 3Q08 marks the final quarter that merger charges will be recognized

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 22

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)		09/30/08			06/30/08			03/31/08			12/31/07			9/30/07
INCOME
Income from continuing operations (GAAP)		$	90,358		$	206,646		$	336,710		$	71,115		$	394,240
Loss from discontinued operations, net of tax			(10,897	)		(253	)		(42	)		(474	)		(76	)
Net income (GAAP)	A	$	79,461		$	206,393		$	336,668		$	70,641		$	394,164
Income from continuing operations (GAAP)		$	90,358		$	206,646		$	336,710		$	71,115		$	394,240
Merger-related charges, pre-tax
Salaries and employee benefits			24,515			46,797			62,089			97,224			14,811
Net occupancy expense			—			1,932			1,399			3,891			21,428
Furniture and equipment expense			—			5,129			(144	)		1,677			1,942
Other			—			46,200			12,254			47,370			53,604
Total merger-related charges, pre-tax			24,515			100,058			75,598			150,162			91,785
Merger-related charges, net of tax			15,200			62,035			46,871			93,505			56,501
Income excluding discontinued operations and merger charges (non-GAAP)	B	$	105,558		$	268,681		$	383,581		$	164,620		$	450,741
Weighted-average shares outstanding-diluted	C		696,205			696,346			695,548			696,895			704,485
Earnings per share, excluding discontinued operations and merger charges-diluted	B/C	$	0.15		$	0.39		$	0.55		$	0.24		$	0.64
RETURN ON AVERAGE TANGIBLE EQUITY
Average equity (GAAP)	D	$	19,713,468		$	19,782,168		$	19,843,914		$	19,868,796		$	19,793,123
Average intangible assets (GAAP)			12,194,962			12,221,261			12,254,861			12,232,365			12,026,887
Average tangible equity	E	$	7,518,506		$	7,560,907		$	7,589,053		$	7,636,431		$	7,766,236
Average equity, excluding discontinued operations	F	$	19,713,468		$	19,782,168		$	19,843,914		$	19,868,796		$	19,793,123
Average intangible assets, excluding discontinued operations			12,194,962			12,221,261			12,254,861			12,232,365			12,026,887
	G	$	7,518,506		$	7,560,907		$	7,589,053		$	7,636,431		$	7,766,236
Return on average tangible equity*	A/E		4.20	%		10.98	%		17.84	%		3.67	%		20.14	%
Return on average tangible equity, ex. discontinued operations and merger charges (non-GAAP)*	B/G		5.59	%		14.29	%		20.33	%		8.55	%		23.03	%

* Income statement amounts have been annualized in calculation

FINANCIAL SUPPLEMENT TO

THIRD QUARTER 2008 EARNINGS RELEASE

PAGE 23

Forward-Looking Statements

This supplement may include forward-looking statements. The Private Securities Litigation Reform Act of 1995 (“the Act”) provides a “safe harbor” for forward-looking statements which are identified as such and are accompanied by the identification of important factors that could cause actual results to differ materially from the forward-looking statements. For these statements, we, together with our subsidiaries, unless the context implies otherwise, claim the protection afforded by the safe harbor in the Act. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those described below:

• Regions’ ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support Regions’ business.

• Regions’ ability to achieve the earnings expectations related to businesses that have been acquired or that may be acquired in the future.

• Regions’ ability to expand into new markets and to maintain profit margins in the face of competitive pressures.

• Regions’ ability to keep pace with technological changes.

• Regions’ ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by Regions’ customers and potential customers.

• Regions’ ability to effectively manage interest rate risk, market risk, credit risk, operational risk, legal risk, liquidity risk, and regulatory and compliance risk.

• The current stresses in the financial and residential real estate markets, including possible continued deterioration in residential property values.

• The cost and other effects of material contingencies, including litigation contingencies.

• The effects of increased competition from both banks and non-banks.

• Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins.

• Possible changes in general economic and business conditions in the United States in general and in the communities Regions serves in particular.

• Possible changes in the creditworthiness of customers and the possible impairment of collectibility of loans.

• The effects of geopolitical instability and risks such as terrorist attacks.

• Possible changes in trade, monetary and fiscal policies, laws and regulations, and other activities of governments, agencies, and similar organizations, including changes in accounting standards, may have an adverse effect on business.

• Possible changes in consumer and business spending and saving habits could affect Regions’ ability to increase assets and to attract deposits.

• The effects of weather and natural disasters such as droughts and hurricanes.

• Congress recently enacted the Emergency Economic Stabilization Act of 2008, and the U.S. Treasury and banking regulators are implementing a number of programs to address capital and liquidity issues in the banking system, all of which may have significant effects on Regions and the financial service industry, the exact nature and extent of which cannot be determined at this time.

The foregoing list of factors is not exhaustive; 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 and Form 10-Q for the quarters ended June 30, 2008 and March 31, 2008, as on file with the Securities and

Exchange Commission.

The words “believe,” “expect,” “anticipate,” “project,” and similar expressions often signify forward-looking statements. 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