Regions Financial (RF) 8-K Regions Reports Fourth Quarter 2008 Loss Largely Driven by

Exhibit 99.2

FINANCIAL SUPPLEMENT TO FOURTH QUARTER 2008 EARNINGS RELEASE

Summary

Quarterly loss of $9.01 per diluted share driven by goodwill impairment; excluding goodwill impairment loss of 35 cents per diluted share

• Significant fourth quarter drivers include: $6.0 billion non-cash goodwill impairment charge;

$275 million tax settlement benefit covering tax years 1999-2006; $1.150 billion loan loss provision - $733 million above third quarter, primarily the result of an aggressive stance taken in disposing of non-performing assets; changes in interest rates necessitated a $99 million or 9 cent per diluted share mortgage servicing rights (MSR) impairment charge; preferred stock issuance through the Treasury’s Capital Purchase Program cost $26.2 million or 4 cents per diluted share for 7 weeks outstanding

Disposition of problem assets drives increase in net charge-offs; provision for loan losses and allowancefor credit losses increase

• Sold or transferred to held for sale approximately $1 billion of non-performing loans and foreclosed properties

• Losses related to non-performing asset sales or marks taken on held for sale loan transfers equate to $479 million or 43 cents per diluted share

• Net charge-offs increased to $796 million or 3.19 percent of average loans in the fourth quarter, compared to $416 million or 1.68% in the third quarter. The majority of the increase was attributable to aggressive non-performing asset dispositions.

• Allowance for credit losses increased $353 million in fourth quarter to 1.95% of loans as compared to 1.57% in the third quarter

• Non-performing assets decreased $53 million versus the previous quarter, to 1.76% of loans and foreclosed properties, a 3 basis point decline as compared to 1.79% in the third quarter. Excluding loans held for sale, NPA ratio decreased $347 million to $1.3 billion or 1.33 percent of loans and foreclosed properties - a 33 basis point decline versus the prior quarter.

Decline in distressed loan portfolio exposure continues; Florida remains central pressure point

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

as paydowns

• Homebuilder balances totaled $4.4 billion at quarter-end, a $799 million decrease compared to third quarter

• Condominium exposure down to $946 million, declining $668 million or by 41% since the beginning of 2008

• Home equity charge-offs increased modestly to an annualized 1.72% of related loans vs. 1.59% in the third quarter

• Florida second lien home equity losses, affected by high unemployment and further property devaluations, rise to 4.37 percent in the fourth quarter as compared to 4.28 percent in the third quarter

• Proactive approach in contacting and helping home equity customers and actions such as fortifying the collections function

are mitigating losses; dedicated Florida workout team focused solely on home equity lending

• Closed or reduced high-risk home equity lines

• Emerging stress in Florida residential first mortgage and retail commercial real estate portfolios

Net interest margin impacted by falling short-term rates

• Taxable-equivalent net interest income increased slightly to $933 million in the fourth quarter. However, adjusting for a third quarter SILO leverage lease charge, taxable-equivalent net interest income declined $41 million.

• Net interest margin fell 14 basis points from third to fourth quarter or 28 basis points as adjusted for the SILO charge, pressured by declining short-term interest rates

• Loan spread expansion and a return to more rational industry-wide deposit pricing expected to stabilize or improve margin in 2Q09

Customer deposit funding gaining momentum

• Average customer deposits grew 4 percent in the fourth quarter; up 7 percent on an ending basis

• CD and money market balances grew in response to competitive offers and customers’ desire to lock in rates in a falling rate environment

• Ending low-cost deposits increased 4 percent; positive impact to interest-free and money market categories from rate offers and introduction of new Consumer and Business checking products

• Not participating in brokered retail CD programs

Non-interest income affected by economic weakness; non-interest expense impacted by sizable non-cash charge

• Non-interest revenue decreased 2 percent to $702 million in the fourth quarter, including lower service charges, a result of a weak economy impacted by lower transaction volumes and overall activity. Lower linked quarter trust income, affected by lower asset valuations from declining markets, as well as a third quarter benefit from energy-related brokered transactions, was also a factor.

• Non-interest expense, excluding the impact of goodwill, MSR impairment, and merger charges increased $81 million or 7 percent, driven by higher deposit-based and Morgan Keegan incentives, legal and professional fees, and valuation related charges

• MSR impairment charges (non-cash adjustments driven primarily by interest rate changes) totaled $99 million or

9 cents per diluted share in the fourth quarter as compared to $11 million, or 1 cent per diluted share in the third quarter

Strengthened balance sheet and liquidity positioning

• Regions’ participation in the Treasury Capital Purchase Program added $3.5 billion to Tier 1 capital

• Tier 1 ratio an estimated 10.39 percent at December 31, 2008, $5 billion above “well capitalized” threshold

• Tangible common equity ratio of 5.23 at December 31, 2008; decline versus third quarter due to an increase in tangible assets primarily related to an increase in invested funds from preferred share and debt issuances

• Significant available liquidity from Federal Reserve, FHLB, unpledged securities, and unused lines; total exceeds $45 billion

• Remaining TLGP capacity exceeds $4 billion

• Minimal holding company long-term debt maturities in the next 2 years

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 2

Regions Financial Corporation and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

($ amounts in thousands)	Quarter Ended
	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Assets:
Cash and due from banks	$	2,642,509		$	2,985,950		$	3,160,519		$	3,061,324		$	3,720,365
Federal funds sold and securities purchased under agreements to resell		790,097			542,042			949,379			852,306			993,070
Trading account assets		1,050,270			1,267,918			1,482,702			1,518,960			1,091,400
Securities available for sale		18,849,482			17,632,912			17,724,907			17,766,260			17,318,074
Securities held to maturity		47,306			50,494			48,244			49,790			50,935
Loans held for sale		1,282,437			1,053,977			677,098			756,500			720,924
Other interest-earning assets		8,436,693			616,816			579,892			664,582			536,320
Loans, net of unearned income		97,418,685			98,711,810			98,266,579			96,385,431			95,378,847
Allowance for loan losses		(1,826,149	)		(1,472,141	)		(1,471,524	)		(1,376,486	)		(1,321,244	)
Net loans		95,592,536			97,239,669			96,795,055			95,008,945			94,057,603
Premises and equipment, net		2,786,043			2,730,301			2,726,249			2,665,813			2,610,851
Interest receivable		458,120			511,897			510,323			549,470			615,711
Goodwill		5,548,295			11,529,091			11,515,095			11,510,096			11,491,673
Mortgage servicing rights (MSRs)		160,890			263,138			271,392			268,784			321,308
Other identifiable intangible assets		638,392			674,719			708,655			746,460			759,832
Other assets		7,964,740			7,193,571			7,286,785			8,829,681			6,753,651
Total Assets	$	146,247,810		$	144,292,495		$	144,436,295		$	144,248,971		$	141,041,717
Liabilities and Stockholders’ Equity:
Deposits:
Non-interest-bearing	$	18,456,668		$	18,044,840		$	18,334,239		$	18,182,582		$	18,417,266
Interest-bearing		72,447,222			71,175,708			71,569,410			71,004,827			76,357,702
Total deposits		90,903,890			89,220,548			89,903,649			89,187,409			94,774,968
Borrowed funds:
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase		3,142,493			10,427,005			8,663,628			8,450,346			8,820,235
Other short-term borrowings		12,679,469			7,114,553			8,926,603			8,716,951			2,299,887
Total short-term borrowings		15,821,962			17,541,558			17,590,231			17,167,297			11,120,122
Long-term borrowings		19,231,277			14,168,524			13,318,656			12,357,225			11,324,790
Total borrowed funds		35,053,239			31,710,082			30,908,887			29,524,522			22,444,912
Other liabilities		3,477,844			3,656,586			3,915,265			5,515,119			3,998,808
Total Liabilities		129,434,973			124,587,216			124,727,801			124,227,050			121,218,688
Stockholders’ equity:
Preferred stock		3,307,382			—			—			—			—
Common stock		7,357			7,358			7,358			7,358			7,347
Additional paid-in capital		16,814,730			16,606,677			16,588,382			16,560,302			16,544,651
Retained earnings (deficit)		(1,868,752	)		4,445,375			4,436,660			4,494,573			4,439,505
Treasury stock		(1,425,646	)		(1,423,620	)		(1,370,761	)		(1,370,761	)		(1,370,761	)
Accumulated other comprehensive income (loss)		(22,234	)		69,489			46,855			330,449			202,287
Total Stockholders’ Equity		16,812,837			19,705,279			19,708,494			20,021,921			19,823,029
Total Liabilities & SE	$	146,247,810		$	144,292,495		$	144,436,295		$	144,248,971		$	141,041,717

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 3

Regions Financial Corporation and Subsidiaries

Consolidated Statements of Income (2)

(Unaudited)

	Quarter Ended
($ amounts in thousands, except per share data)	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Interest income on:
Loans, including fees	$	1,327,885		$	1,318,463		$	1,374,702		$	1,528,821		$	1,674,690
Securities:
Taxable		211,424			207,927			208,140			200,131			202,669
Tax-exempt		9,475			10,958			9,949			9,714			9,361
Total securities		220,899			218,885			218,089			209,845			212,030
Loans held for sale		8,622			8,515			9,598			8,998			10,089
Federal funds sold and securities purchased under agreements to resell		2,100			4,914			4,494			7,116			11,188
Trading account assets		10,996			12,701			18,073			20,632			17,666
Other interest-earning assets		11,004			4,927			5,711			7,400			8,505
Total interest income		1,581,506			1,568,405			1,630,667			1,782,812			1,934,168
Interest expense on:
Deposits		407,458			391,271			422,151			503,190			625,600
Short-term borrowings		69,259			101,690			85,350			113,089			107,077
Long-term borrowings		180,630			153,842			143,456			149,048			157,279
Total interest expense		657,347			646,803			650,957			765,327			889,956
Net interest income		924,159			921,602			979,710			1,017,485			1,044,212
Provision for loan losses		1,150,000			417,000			309,000			181,000			358,000
Net interest income (loss) after provision for loan losses		(225,841	)		504,602			670,710			836,485			686,212
Non-interest income:
Service charges on deposit accounts		288,126			294,038			294,182			271,613			292,709
Brokerage, investment banking and capital markets		240,820			241,000			272,217			273,431			253,822
Trust department income		51,573			66,474			58,537			56,938			60,798
Mortgage income		34,100			33,030			24,926			45,620			28,046
Securities gains (losses), net		(105	)		165			792			91,643			(45	)
Other		87,272			84,632			93,315			168,892			97,648
Total non-interest income		701,786			719,339			743,969			908,137			732,978
Non-interest expense:
Salaries and employee benefits		561,948			551,802			598,770			643,419			678,859
Net occupancy expense		113,697			110,587			111,259			106,602			106,252
Furniture and equipment expense		78,879			87,805			87,288			80,569			80,346
Impairment (recapture) of MSR’s		99,000			11,000			(67,000	)		42,000			23,000
Goodwill impairment		6,000,000			—			—			—			—
Other		419,155			366,519			410,807			377,508			459,799
Total non-interest expense (1)		7,272,679			1,127,713			1,141,124			1,250,098			1,348,256
Income (loss) from continuing operations before income taxes		(6,796,734	)		96,228			273,555			494,524			70,934
Income taxes		(578,707	)		5,870			66,909			157,814			(181	)
Income (loss) from continuing operations		(6,218,027	)		90,358			206,646			336,710			71,115
Loss from discontinued operations before income taxes		(431	)		(17,501	)		(406	)		(67	)		(765	)
Income tax benefit from discontinued operations		(162	)		(6,604	)		(153	)		(25	)		(291	)
Loss from discontinued operations, net of tax		(269	)		(10,897	)		(253	)		(42	)		(474	)
Net income (loss)	$	(6,218,296	)	$	79,461		$	206,393		$	336,668		$	70,641
Income (loss) from continuing operations available to common shareholders	$	(6,244,263	)	$	90,358		$	206,646		$	336,710		$	71,115
Net income (loss) available to common shareholders	$	(6,244,532	)	$	79,461		$	206,393		$	336,668		$	70,641
Weighted-average shares outstanding–during quarter:
Basic		693,000			695,950			695,978			695,098			695,518
Diluted		693,000			696,205			696,346			695,548			696,895
Actual shares outstanding–end of quarter		691,366			691,956			694,729			694,721			693,636
Earnings (loss) per share from continuing operations:
Basic	$	(8.97	)	$	0.13		$	0.30		$	0.48		$	0.10
Diluted	$	(8.97	)	$	0.13		$	0.30		$	0.48		$	0.10
Earnings (loss) per share available to common shareholders (3):
Basic	$	(9.01	)	$	0.11		$	0.30		$	0.48		$	0.10
Diluted	$	(9.01	)	$	0.11		$	0.30		$	0.48		$	0.10
Common dividends declared per share	$	0.10		$	0.10		$	0.38		$	0.38		$	0.38
Taxable equivalent net interest income from continuing operations	$	933,059		$	930,609		$	989,524		$	1,026,489		$	1,050,416

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

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 4

Regions Financial Corporation and Subsidiaries

Consolidated Statements of Income (2)

(Unaudited)

($ amounts in thousands, except per share data)	Year Ended December 31
	2008			2007
Interest income on:
Loans, including fees	$	5,549,871		$	6,924,544
Securities:
Taxable		827,622			856,043
Tax-exempt		40,096			41,260
Total securities		867,718			897,303
Loans held for sale		35,733			92,097
Federal funds sold and securities purchased under agreements to resell		18,624			50,801
Trading account assets		62,402			71,418
Other interest-earning assets		29,042			38,500
Total interest income		6,563,390			8,074,663
Interest expense on:
Deposits		1,724,070			2,663,883
Short-term borrowings		369,388			459,467
Long-term borrowings		626,976			552,947
Total interest expense		2,720,434			3,676,297
Net interest income		3,842,956			4,398,366
Provision for loan losses		2,057,000			555,000
Net interest income after provision for loan losses		1,785,956			3,843,366
Non-interest income:
Service charges on deposit accounts		1,147,959			1,162,740
Brokerage, investment banking and capital markets		1,027,468			894,621
Trust department income		233,522			251,319
Mortgage income		137,676			135,704
Securities gains (losses), net		92,495			(8,553	)
Other		434,111			420,004
Total non-interest income		3,073,231			2,855,835
Non-interest expense:
Salaries and employee benefits		2,355,939			2,471,869
Net occupancy expense		442,145			413,711
Furniture and equipment expense		334,541			301,330
Impairment of MSR’s		85,000			6,000
Goodwill impairment		6,000,000			—
Other		1,573,989			1,467,441
Total non-interest expense (1)		10,791,614			4,660,351
Income (loss) from continuing operations before income taxes		(5,932,427	)		2,038,850
Income taxes		(348,114	)		645,687
Income (loss) from continuing operations		(5,584,313	)		1,393,163
Loss from discontinued operations before income taxes		(18,405	)		(217,387	)
Income tax benefit from discontinued operations		(6,944	)		(75,319	)
Loss from discontinued operations, net of tax		(11,461	)		(142,068	)
Net income (loss)	$	(5,595,774	)	$	1,251,095
Income (loss) from continuing operations available to common shareholders	$	(5,610,549	)	$	1,393,163
Net income (loss) available to common shareholders	$	(5,622,010	)	$	1,251,095
Weighted-average shares outstanding—year-to-date:
Basic		695,003			707,981
Diluted		695,003			712,743
Actual shares outstanding—end of period		691,366			693,636
Earnings (loss) per share from continuing operations:
Basic	$	(8.03	)	$	1.97
Diluted	$	(8.03	)	$	1.95
Earnings (loss) per share available to common shareholders (3):
Basic	$	(8.09	)	$	1.77
Diluted	$	(8.09	)	$	1.76
Common dividends declared per share	$	0.96		$	1.46
Taxable equivalent net interest income from continuing operations	$	3,879,681		$	4,436,475

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

FINANCIAL SUPPLEMENT TO

FOURTH 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 and $150.2 million in 4Q07.

See page 21 for additional detail.

(2) Certain amounts in the prior periods have been classified to reflect current period presentation

(3) Includes preferred stock expense

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 6

Regions Financial Corporation and Subsidiaries

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

($ amounts in thousands; yields on taxable-equivalent basis)

	Quarter Ended
	12/31/08							9/30/08							6/30/08							3/31/08							12/31/07
	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:
Federal funds sold and securities purchased under agreements to resell		608,438			2,099	1.37	%		999,678			4,914	1.96	%		883,561			4,494	2.05	%		981,195			7,116	2.92	%		992,144			11,188	4.47	%
Trading account assets		1,333,709			11,730	3.50	%		1,347,642			13,747	4.06	%		1,399,711			19,262	5.53	%		1,813,533			21,030	4.66	%		1,289,284			17,864	5.50	%
Securities:
Taxable		17,080,811			211,424	4.92	%		16,962,182			207,927	4.88	%		16,977,622			208,140	4.93	%		16,565,408			200,131	4.86	%		16,407,051			202,669	4.90	%
Tax-exempt		799,674			14,378	7.15	%		767,277			16,612	8.61	%		719,535			15,220	8.51	%		727,662			14,856	8.21	%		724,152			14,300	7.83	%
Loans held for sale		823,361			8,622	4.17	%		563,015			8,514	6.02	%		650,096			9,598	5.94	%		620,722			8,998	5.83	%		663,284			10,089	6.03	%
Other earning assets		5,604,251			11,004	0.78	%		581,740			4,927	3.37	%		636,245			5,711	3.61	%		642,804			7,400	4.63	%		572,954			8,504	5.89	%
Loans, net of unearned income (2)		99,134,008			1,331,149	5.34	%		98,333,257			1,320,771	5.34	%		97,194,350			1,378,056	5.70	%		95,718,586			1,532,285	6.44	%		94,783,954			1,675,758	7.01	%
Total interest-earning assets		125,384,252		$	1,590,406	5.05	%		119,554,791		$	1,577,412	5.25	%		118,461,120		$	1,640,481	5.57	%		117,069,910		$	1,791,816	6.16	%		115,432,823		$	1,940,372	6.67	%
Allowance for loan losses		(1,456,809	)						(1,490,838	)						(1,370,777	)						(1,332,583	)						(1,070,916	)
Cash and due from banks		2,499,193							2,420,550							2,424,758							2,746,249							2,831,323
Other assets		21,647,103							22,756,459							23,045,528							23,391,604							21,511,015
	$	148,073,739						$	143,240,962						$	142,560,629						$	141,875,180						$	138,704,245
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	3,690,776		$	1,072	0.12	%	$	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	%
Interest-bearing transaction accounts		14,393,100			20,011	0.55	%		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	%
Money market accounts		18,431,738			87,943	1.90	%		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	%
Time deposits		31,849,414			292,568	3.65	%		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	%
Foreign deposits		3,395,035			5,864	0.69	%		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	%
Total interest-bearing deposits		71,760,063			407,458	2.26	%		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	%
Federal funds purchased and securities sold under agreements to repurchase		4,458,517			12,103	1.08	%		9,906,410			51,596	2.07	%		7,683,304			39,353	2.06	%		8,753,109			67,940	3.12	%		8,557,902			92,310	4.28	%
Other short-term borrowings		14,259,653			57,156	1.59	%		8,014,170			50,094	2.49	%		7,097,347			45,997	2.61	%		5,389,754			45,149	3.37	%		1,554,759			14,767	3.77	%
Long-term borrowings		16,068,876			180,630	4.47	%		13,363,762			153,842	4.58	%		12,925,634			143,456	4.46	%		11,653,966			149,048	5.14	%		11,054,567			157,279	5.64	%
Total interest-bearing liabilities		106,547,109		$	657,347	2.45	%		102,184,074		$	646,803	2.52	%		100,795,705		$	650,957	2.60	%		99,497,048		$	765,327	3.09	%		96,958,167		$	889,956	3.64	%
Net interest spread						2.60	%						2.73	%						2.97	%						3.07	%						3.03	%
Non-interest-bearing deposits		17,773,390							17,690,915							17,814,075							17,602,501							18,249,585
Other liabilities		3,343,346							3,652,505							4,168,681							4,931,717							3,627,697
Stockholders’ equity		20,409,894							19,713,468							19,782,168							19,843,914							19,868,796
	$	148,073,739						$	143,240,962						$	142,560,629						$	141,875,180						$	138,704,245
Net interest income/margin FTE basis				$	933,059	2.96	%				$	930,609	3.10	%				$	989,524	3.36	%				$	1,026,489	3.53	%				$	1,050,416	3.61	%

(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% in 3Q08.

FINANCIAL SUPPLEMENT TO

FOURTH 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)

	Year Ended December 31
	2008							2007
	Average Balance			Revenue/ Expense		Yield/ Rate		Average Balance			Revenue/ Expense		Yield/ Rate
Assets
Interest-earning assets:
Federal funds sold and securities purchased under agreements to resell		867,868			18,623	2.15	%		1,020,994			50,801	4.98	%
Trading account assets		1,472,922			65,769	4.47	%		1,441,565			72,199	5.01	%
Securities:
Taxable securities		16,897,189			827,622	4.90	%		16,981,646			856,043	5.04	%
Tax-exempt		753,700			61,065	8.10	%		736,762			62,751	8.52	%
Loans held for sale		664,456			35,733	5.38	%		1,538,813			110,950	7.21	%
Loans held for sale-divestitures		—			—	—			283,697			21,521	7.59	%
Other earning assets		1,872,964			29,042	1.55	%		588,141			38,500	6.55	%
Loans, net of unearned income (2)		97,601,272			5,562,261	5.70	%		94,372,061			6,900,007	7.31	%
Total interest-earning assets		120,130,371			6,600,115	5.49	%		116,963,679			8,112,772	6.94	%
Allowance for loan losses		(1,413,085	)						(1,063,011	)
Cash and due from banks		2,522,344							2,848,590
Other non-earning assets		22,707,395							20,007,361
	$	143,947,025						$	138,756,619
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	3,743,595		$	4,350	0.12	%	$	3,797,413		$	10,879	0.29	%
Interest-bearing transaction accounts		15,057,653			127,123	0.84	%		15,553,355			311,672	2.00	%
Money market accounts		18,269,092			326,219	1.79	%		19,455,402			629,187	3.23	%
Time deposits		30,384,297			1,173,804	3.86	%		29,862,940			1,352,093	4.53	%
Foreign deposits		4,902,080			92,574	1.89	%		7,679,264			347,961	4.53	%
Interest-bearing deposits - divestitures		—			—	—			374,179			12,091	3.23	%
Total interest-bearing deposits		72,356,717			1,724,070	2.38	%		76,722,553			2,663,883	3.47	%
Federal funds purchased and securities sold under agreements to repurchase		7,697,505			170,993	2.22	%		8,080,179			377,595	4.67	%
Other short-term borrowings		8,703,601			198,395	2.28	%		1,901,897			81,872	4.30	%
Long-term borrowings		13,509,689			626,976	4.64	%		9,697,823			552,947	5.70	%
Total interest-bearing liabilities		102,267,512			2,720,434	2.66	%		96,402,452			3,676,297	3.81	%
Net interest spread						2.83	%						3.13	%
Non-interest bearing deposits		17,720,285							19,002,548
Other liabilities		4,019,821							3,315,160
Stockholders’ equity		19,939,407							20,036,459
	$	143,947,025						$	138,756,619
Net interest income/margin FTE basis				$	3,879,681	3.23	%				$	4,436,475	3.79	%

(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 5.74%

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 8

Regions Financial Corporation and Subsidiaries

Selected Ratios

	As of and for Quarter Ended
	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07
Return on average assets*		NM			0.22	%		0.58	%		0.95	%		0.20	%
Return on average common equity*		NM			1.60	%		4.20	%		6.82	%		1.41	%
Return on average tangible common equity*		NM			4.20	%		10.98	%		17.84	%		3.67	%
Common equity per share	$	19.53		$	28.48		$	28.37		$	28.82		$	28.58
Tangible common book value per share	$	10.59		$	10.84		$	10.77		$	11.18		$	10.92
Stockholders’ equity to total assets		11.50	%		13.66	%		13.65	%		13.88	%		14.05	%
Tangible common stockholders’ equity to tangible assets		5.23	%		5.69	%		5.67	%		5.90	%		5.88	%
Tangible common stockholders’ equity to tangible assets (excluding other comprehensive income)		5.24	%		5.64	%		5.64	%		5.64	%		5.72	%
Tier 1 Capital (2)		10.39	%		7.47	%		7.48	%		7.30	%		7.29	%
Total Risk-Based Capital (2)		14.65	%		11.70	%		11.77	%		11.07	%		11.25	%
Allowance for credit losses as a percentage of loans, net of unearned income (1)		1.95	%		1.57	%		1.56	%		1.49	%		1.45	%
Allowance for loan losses as a percentage of loans, net of unearned income		1.87	%		1.49	%		1.50	%		1.43	%		1.39	%
Net interest margin (FTE) (3)		2.96	%		3.10	%		3.36	%		3.53	%		3.61	%
Loans, net of unearned income, to total deposits		107.17	%		110.64	%		109.30	%		108.07	%		100.64	%
Net charge-offs as a percentage of average loans*		3.19	%		1.68	%		0.86	%		0.53	%		0.45	%
Non-performing assets (excluding loans 90 days past due) as a percentage of loans and other real estate		1.76	%		1.79	%		1.65	%		1.25	%		0.90	%
Non-performing assets (excluding loans 90 days past due) as a percentage of loans and other real estate (4)		1.33	%		1.66	%		1.65	%		1.25	%		0.90	%
Non-performing assets (including loans 90 days past due) as a percentage of loans and other real estate		2.33	%		2.25	%		2.09	%		1.73	%		1.28	%
Non-performing assets (including loans 90 days past due)as a percentage of loans and other real estate (4)		1.89	%		2.12	%		2.08	%		1.73	%		1.28	%

* 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 lower by 14 bps resulting from the impact of a leveraged lease tax settlement in the quarter

(4) Excludes loans held for sale

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 9

Loans (1)

Loan Portfolio - Period End Data

($ amounts in thousands)	12/31/08		9/30/08		6/30/08		3/31/08		12/31/07		12/31/08 vs. 9/30/08					12/31/08 vs. 12/31/07
Commercial and industrial	$	23,595,418	$	23,511,223	$	23,241,719	$	21,721,738	$	20,906,617	$	84,195		0.4	%	$	2,688,801		12.9	%
Residential first mortgage		15,839,016		16,190,711		16,464,099		16,763,350		16,959,546		(351,695	)	-2.2	%		(1,120,530	)	-6.6	%
Commercial real estate		26,208,325		25,720,059		24,919,399		24,694,372		23,107,176		488,266		1.9	%		3,101,149		13.4	%
Construction		10,634,063		11,620,174		12,001,490		11,961,974		13,301,898		(986,111	)	-8.5	%		(2,667,835	)	-20.1	%
Home equity		16,130,255		15,848,995		15,446,740		15,034,850		14,962,007		281,260		1.8	%		1,168,248		7.8	%
Indirect		3,853,770		4,211,078		4,145,457		3,961,782		3,938,113		(357,308	)	-8.5	%		(84,343	)	-2.1	%
Other consumer		1,157,838		1,609,570		2,047,675		2,247,365		2,203,490		(451,732	)	-28.1	%		(1,045,652	)	-47.5	%
	$	97,418,685	$	98,711,810	$	98,266,579	$	96,385,431	$	95,378,847	$	(1,293,125	)	-1.3	%	$	2,039,838		2.1	%
Loan Portfolio - Average Balances
($ amounts in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08 vs. 3Q08					4Q08 vs. 4Q07
Commercial and industrial	$	24,121,842	$	22,915,564	$	22,403,228	$	21,168,719	$	22,913,252	$	1,206,278		5.3	%	$	1,208,590		5.3	%
Residential first mortgage		16,004,588		16,303,753		16,577,757		16,809,947		16,498,108		(299,165	)	-1.8	%		(493,520	)	-3.0	%
Commercial real estate		25,886,699		25,206,590		24,741,421		24,037,892		20,722,764		680,109		2.7	%		5,163,935		24.9	%
Construction		11,583,984		12,042,140		12,151,436		12,406,900		13,543,446		(458,156	)	-3.8	%		(1,959,462	)	-14.5	%
Home equity		16,035,825		15,659,363		15,252,902		14,997,751		14,888,685		376,462		2.4	%		1,147,140		7.7	%
Indirect		4,043,477		4,214,428		4,038,990		3,954,999		3,975,744		(170,951	)	-4.1	%		67,733		1.7	%
Other consumer		1,457,593		1,991,419		2,028,616		2,342,378		2,241,955		(533,826	)	-26.8	%		(784,362	)	-35.0	%
	$	99,134,008	$	98,333,257	$	97,194,350	$	95,718,586	$	94,783,954	$	800,751		0.8	%	$	4,350,054		4.6	%

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

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

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 10

Deposits (1)

Deposit Portfolio - Period End Data

($ amounts in thousands)	12/31/08		9/30/08		6/30/08		3/31/08		12/31/07		12/31/08 vs. 9/30/08					12/31/08 vs. 12/31/07
Customer Deposits
Interest-Free Deposits	$	18,456,668	$	18,044,840	$	18,334,239	$	18,182,582	$	18,417,266	$	411,828		2.3	%	$	39,402		0.2	%
Interest-Bearing Checking		15,022,207		14,616,324		15,380,301		15,603,984		15,846,139		405,883		2.8	%		(823,932	)	-5.2	%
Savings		3,662,949		3,708,541		3,819,138		3,792,550		3,646,632		(45,592	)	-1.2	%		16,317		0.4	%
Money Market		19,470,885		17,098,015		17,993,169		18,649,389		18,934,309		2,372,870		13.9	%		536,576		2.8	%
Money Market - Foreign		1,812,446		2,454,107		3,122,234		3,089,721		3,482,603		(641,661	)	-26.1	%		(1,670,157	)	-48.0	%
Low Cost Deposits		58,425,155		55,921,827		58,649,081		59,318,226		60,326,949		2,503,328		4.5	%		(1,901,794	)	-3.2	%
Time Deposits		32,368,499		29,287,705		27,376,268		26,910,200		26,507,459		3,080,794		10.5	%		5,861,040		22.1	%
Total Customer Deposits		90,793,654		85,209,532		86,025,349		86,228,426		86,834,408		5,584,122		6.6	%		3,959,246		4.6	%
Corporate Treasury Deposits
Time Deposits		110,236		1,123,213		3,085,874		2,552,983		2,791,386		(1,012,977	)	-90.2	%		(2,681,150	)	-96.1	%
Other Foreign Deposits		—		2,887,803		792,426		406,000		5,149,174		(2,887,803	)	-100.0	%		(5,149,174	)	-100.0	%
Total Corporate Treasury Deposits		110,236		4,011,016		3,878,300		2,958,983		7,940,560		(3,900,780	)	-97.3	%		(7,830,324	)	-98.6	%
Total Deposits	$	90,903,890	$	89,220,548	$	89,903,649	$	89,187,409	$	94,774,968	$	1,683,342		1.9	%	$	(3,871,078	)	-4.1	%
Deposit Portfolio - Average Balances
($ amounts in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08 vs. 3Q08					4Q08 vs. 4Q07
Customer Deposits
Interest-Free Deposits	$	17,773,390	$	17,690,914	$	17,814,075	$	17,602,501	$	18,249,585	$	82,476		0.5	%	$	(476,195	)	-2.6	%
Interest-Bearing Checking		14,393,100		14,830,665		15,396,516		15,620,128		15,029,192		(437,565	)	-3.0	%		(636,092	)	-4.2	%
Savings		3,690,776		3,774,330		3,810,211		3,699,304		3,669,700		(83,554	)	-2.2	%		21,076		0.6	%
Money Market		18,431,738		17,534,433		18,314,710		18,801,773		19,290,437		897,305		5.1	%		(858,699	)	-4.5	%
Money Market - Foreign		2,133,088		2,859,674		3,112,534		3,213,214		3,851,066		(726,586	)	-25.4	%		(1,717,978	)	-44.6	%
Low Cost Deposits		56,422,092		56,690,016		58,448,046		58,936,920		60,089,980		(267,924	)	-0.5	%		(3,667,888	)	-6.1	%
Time Deposits		31,442,107		27,769,797		27,247,666		26,717,380		26,716,422		3,672,310		13.2	%		4,725,685		17.7	%
Total Customer Deposits		87,864,199		84,459,813		85,695,712		85,654,300		86,806,402		3,404,386		4.0	%		1,057,797		1.2	%
Corporate Treasury Deposits
Time Deposits		407,307		2,398,056		2,684,946		2,856,204		1,872,532		(1,990,749	)	-83.0	%		(1,465,225	)	-78.2	%
Other Foreign Deposits		1,261,948		1,732,776		2,522,837		2,792,216		5,361,590		(470,828	)	-27.2	%		(4,099,642	)	-76.5	%
Total Corporate Treasury Deposits		1,669,255		4,130,832		5,207,783		5,648,420		7,234,122		(2,461,577	)	-59.6	%		(5,564,867	)	-76.9	%
Total Deposits	$	89,533,454	$	88,590,645	$	90,903,495	$	91,302,720	$	94,040,524	$	942,809		1.1	%	$	(4,507,070	)	-4.8	%

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

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 11

Operating Revenue from Continuing Operations (1)

Revenue

($ amounts in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08 vs. 3Q08					4Q08 vs. 4Q07
Net Interest Income (TE basis)	$	933,059	$	930,609	$	989,524	$	1,026,489	$	1,050,416	$	2,450		0.3	%	$	(117,357	)	-11.2	%
Non-Interest Income (excl. sec. gains/losses)		701,891		719,174		743,177		816,494		733,023		(17,283	)	-2.4	%		(31,132	)	-4.2	%
Total Revenue (excl. sec. gains/losses, TE basis)	$	1,634,950	$	1,649,783	$	1,732,701	$	1,842,983	$	1,783,439	$	(14,833	)	-0.9	%	$	(148,489	)	-8.3	%

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

• Net interest margin of 2.96% in 4Q08 compared to 3.10% in 3Q08

• Net interest margin in 3Q08 was negatively impacted by 14 bps due to a leveraged lease tax settlement

Therefore comparable linked quarter margin declined 28 bps

• Regions’ balance sheet positioning is asset-sensitive as of December 31, 2008

FINANCIAL SUPPLEMENT TO

FOURTH 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)	4Q08			3Q08		2Q08			1Q08		4Q07			4Q08 vs. 3Q08					4Q08 vs. 4Q07
Service charges on deposit accounts	$	288,126		$	294,038	$	294,182		$	271,613	$	292,709		$	(5,912	)	-2.0	%	$	(4,583	)	-1.6	%
Brokerage, investment banking and capital markets		240,820			241,000		272,217			273,431		253,822			(180	)	-0.1	%		(13,002	)	-5.1	%
Trust department income		51,573			66,474		58,537			56,938		60,798			(14,901	)	-22.4	%		(9,225	)	-15.2	%
Mortgage income		34,100			33,030		24,926			45,620		28,046			1,070		3.2	%		6,054		21.6	%
Securities gains (losses), net		(105	)		165		792			91,643		(45	)		(270	)	-163.6	%		(60	)	-133.3	%
Insurance income		26,346			26,007		26,818			30,899		23,320			339		1.3	%		3,026		13.0	%
Other		60,926			58,625		66,497			137,993		74,328			2,301		3.9	%		(13,402	)	-18.0	%
Total non-interest income	$	701,786		$	719,339	$	743,969		$	908,137	$	732,978		$	(17,553	)	-2.4	%	$	(31,192	)	-4.3	%
Non-interest Expense*
($ amounts in thousands)	4Q08			3Q08		2Q08			1Q08		4Q07			4Q08 vs. 3Q08					4Q08 vs. 4Q07
Salaries and employee benefits (w/o merger)	$	561,948		$	527,287	$	551,973		$	581,330	$	581,634		$	34,661		6.6	%	$	(19,686	)	-3.4	%
Net occupancy expense		113,697			110,587		109,327			105,203		102,361			3,110		2.8	%		11,336		11.1	%
Furniture and equipment expense		78,879			87,805		82,159			80,713		78,669			(8,926	)	-10.2	%		210		0.3	%
Impairment (recapture) of MSR’s		99,000			11,000		(67,000	)		42,000		23,000			88,000		800.0	%		76,000		330.4	%
Loss on early extinguishment of debt		—			—		—			65,405		—			—		NM			—		NM
Professional fees		73,673			51,594		49,342			32,173		43,212			22,079		42.8	%		30,461		70.5	%
Marketing expense		21,282			23,263		18,995			20,684		29,062			(1,981	)	-8.5	%		(7,780	)	-26.8	%
Amortization of core deposit intangible		32,071			33,011		34,013			35,045		42,100			(940	)	-2.8	%		(10,029	)	-23.8	%
Amortization of MSR’s		16,201			12,881		22,057			24,292		21,183			3,320		25.8	%		(4,982	)	-23.5	%
Other real estate owned expense		32,244			43,468		20,109			6,945		8,965			(11,224	)	-25.8	%		23,279		259.7	%
Other		243,684			202,302		220,091			180,710		267,908			41,382		20.5	%		(24,224	)	-9.0	%
Total non-interest expense, excluding merger charges and goodwill impairment		1,272,679			1,103,198		1,041,066			1,174,500		1,198,094			169,481		15.4	%		74,585		6.2	%
Merger-related charges		—			24,515		100,058			75,598		150,162			(24,515	)	-100.0	%		(150,162	)	-100.0	%
Goodwill impairment charge		6,000,000			—		—			—		—			6,000,000		NM			6,000,000		NM
Total non-interest expense	$	7,272,679		$	1,127,713	$	1,141,124		$	1,250,098	$	1,348,256		$	6,144,966		NM		$	5,924,423		NM

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

* Individual expense categories are presented excluding merger-related charges and goodwill impairment, which are presented in separate line items in the above table

• A $6 billion non-cash goodwill impairment charge was booked due to the estimated value of equity being less than the book value of equity within the General Banking/Treasury segment

• Service charges decreased $5.9 million linked quarter, due to a weak economy causing lower transaction volumes and reduced account activity

• 4Q08 brokerage revenues remained consistent on a linked quarter basis due to increased sales activities from Morgan Keegan offset by lower capital markets revenues

• Trust income decrease of $14.9 million in the fourth quarter, affected by lower asset valuations from declining markets. Also, third quarter trust income reflected higher fees from energy-related brokered transactions.

• 2Q08 mortgage income reflects a $15 million loss on sale of mortgage servicing rights

• 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, merger-related charges, and goodwill impairment increased 7% during 4Q08 as compared to 3Q08

• Salaries and benefits expense rose in 4Q08 resulting from increased incentive costs tied to deposit growth and higher incentives related to increased brokerage revenues at Morgan Keegan

• 4Q08 linked quarter increase in professional fees is due to higher legal costs

• 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

• 4Q08 other real estate owned expense decreased $11 million as compared to the third quarter, which included the impact of a higher level of asset sales

• Other non-interest expense reflects losses on Morgan Keegan Mutual Funds totaling $2.8 million, $8.8 million, $13.4 million, $24.5 million, and $38.5 million for 4Q08, 3Q08, 2Q08, 1Q08 and 4Q07, respectively

• 4Q08 other non-interest expense reflects $10 million increases in both contributions and losses on loans moved to held for sale during 3Q08 and a $21 million increase in securities-related valuation adjustments

• 1Q08 includes $28.4 million Visa litigation expense reduction related to Visa’s IPO. Also included in other non-interest expense during 1Q08 is a $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

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PAGE 13

Morgan Keegan

Morgan Keegan

Summary Income Statement (excluding merger-related charges)

($ amounts in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08 vs. 3Q08					4Q08 vs. 4Q07
Revenues:
Commissions	$	56,075	$	60,725	$	64,615	$	67,801	$	82,502	$	(4,650	)	-7.7	%	$	(26,427	)	-32.0	%
Principal transactions		98,445		46,312		52,615		70,045		56,216		52,133		112.6	%		42,229		75.1	%
Investment banking		43,301		41,000		70,587		55,010		57,192		2,301		5.6	%		(13,891	)	-24.3	%
Interest		16,649		21,890		27,143		29,454		33,772		(5,241	)	-23.9	%		(17,123	)	-50.7	%
Trust fees and services		53,930		65,688		56,850		54,085		56,736		(11,758	)	-17.9	%		(2,806	)	-4.9	%
Investment advisory		49,973		49,446		54,685		52,432		52,168		527		1.1	%		(2,195	)	-4.2	%
Other		10,020		8,193		12,790		10,423		12,357		1,827		22.3	%		(2,337	)	-18.9	%
Total revenues		328,393		293,254		339,285		339,250		350,943		35,139		12.0	%		(22,550	)	-6.4	%
Expenses:
Interest expense		7,334		11,380		11,644		15,470		19,790		(4,046	)	-35.6	%		(12,456	)	-62.9	%
Non-interest expense		277,508		232,630		266,937		274,738		291,022		44,878		19.3	%		(13,514	)	-4.6	%
Total expenses		284,842		244,010		278,581		290,208		310,812		40,832		16.7	%		(25,970	)	-8.4	%
Income before income taxes		43,551		49,244		60,704		49,042		40,131		(5,693	)	-11.6	%		3,420		8.5	%
Income taxes		15,406		18,262		22,463		18,069		15,068		(2,856	)	-15.6	%		338		2.2	%
Net income1	$	28,145	$	30,982	$	38,241	$	30,973	$	25,063	$	(2,837	)	-9.2	%	$	3,082		12.3	%

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 December 31, 2008:
$ amount of revenue	$	81,260		$	109,710		$	22,967		$	53,931		$	46,131		$	14,394
% of gross revenue		24.7	%		33.4	%		7.0	%		16.4	%		14.0	%		4.5	%
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	%
Year Ended December 31, 2008:
$ amount of revenue	$	339,438		$	369,887		$	127,929		$	230,551		$	177,352		$	55,025
% of gross revenue		26.1	%		28.5	%		9.8	%		17.7	%		13.6	%		4.3	%
Year Ended December 31, 2007:
$ amount of revenue	$	393,511		$	244,407		$	103,289		$	225,853		$	188,905		$	144,227
% of gross revenue		30.3	%		18.8	%		7.9	%		17.4	%		14.5	%		11.1	%

• The significant increase in principal transactions on a linked quarter basis is primarily due to stronger fixed income institutional business as institutional customers invested heavily in municipal securities, mortgage-backed securities, and treasury securities during the 4th Quarter.

• Trust fees and services revenue, as well as Regions MK Trust division revenue, decreased due to the drop in trust assets during the quarter. Also, 3Q08 trust income reflected higher fees from energy-related brokered transactions.

• Non-interest expenses increased during 4Q08 driven by higher commissions, a result of higher brokerage revenues, compensation, and legal expenses

• Fixed income capital markets revenues reflect increased purchases of safe-haven assets, including treasuries, by institutional investors

FINANCIAL SUPPLEMENT TO

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PAGE 14

Credit Quality (1)

Credit Quality

	As of and for Quarter Ended															YTD
($ in thousands)	12/31/08			9/30/08			6/30/08			3/31/08			12/31/07			12/31/08			12/31/07
Allowance for credit losses (ACL)	$	1,899,679		$	1,546,363		$	1,536,346		$	1,432,271		$	1,379,498		$	1,899,679		$	1,379,498
Provision for loan losses from continuing operations	$	1,150,000		$	417,000		$	309,000		$	181,000		$	358,000		$	2,057,000		$	555,000
Provision for unfunded credit losses	$	(692	)	$	9,401		$	9,036		$	(2,469	)	$	2,416		$	15,276		$	6,419
Net loans charged-off:*
Commercial and industrial	$	74,734		$	53,991		$	28,171		$	52,146		$	37,048		$	209,042		$	73,353
Residential first mortgage		42,116			18,368			11,501			9,462			7,433			81,447			7,443
Commercial real estate		276,767			59,277			31,850			11,035			12,976			378,929			41,898
Construction		304,643			198,676			46,036			13,138			16,036			562,493			30,547
Home equity lending		69,228			62,540			73,406			21,072			11,513			226,246			40,674
Indirect lending		14,563			10,173			8,038			8,381			7,752			41,155			20,538
Other consumer		13,941			13,359			9,949			10,524			14,714			47,773			56,069
Total	$	795,992		$	416,384		$	208,951		$	125,758		$	107,472		$	1,547,085		$	270,522
Net loan charge-offs as a % of average loans, annualized *
Commercial and industrial		1.23	%		0.94	%		0.51	%		0.99	%		0.64	%		0.92	%		0.33	%
Residential first mortgage		1.05	%		0.45	%		0.28	%		0.23	%		0.18	%		0.50	%		0.12	%
Commercial real estate		4.25	%		0.94	%		0.52	%		0.18	%		0.25	%		1.52	%		0.15	%
Construction		10.46	%		6.56	%		1.52	%		0.43	%		0.47	%		4.67	%		0.22	%
Home equity lending		1.72	%		1.59	%		1.94	%		0.57	%		0.31	%		1.46	%		0.27	%
Indirect lending		1.43	%		0.96	%		0.80	%		0.85	%		0.77	%		1.01	%		0.51	%
Other consumer		3.80	%		2.67	%		1.97	%		1.81	%		2.60	%		2.45	%		2.31	%
Total		3.19	%		1.68	%		0.86	%		0.53	%		0.45	%		1.59	%		0.29	%
Non-performing assets (NPAs)	$	1,717,986		$	1,770,739		$	1,629,449		$	1,204,429		$	864,054
Non-performing assets held for sale		423,255			128,771			8,615			—			—
Non-performing assets, excluding loans held for sale	$	1,294,731		$	1,641,968		$	1,620,834		$	1,204,429		$	864,054
Foreclosed properties		242,961			201,345			210,330			180,228			120,465
Non-accrual loans*	$	1,051,770		$	1,440,623		$	1,410,504		$	1,024,201		$	743,589
Loans past due > 90 days*	$	554,358		$	457,090		$	431,958		$	467,375		$	356,685
Restructured loans not included in categories above	$	454,731		$	138,688		$	101,559			—			—
Credit Ratios:
ACL/Loans, net		1.95	%		1.57	%		1.56	%		1.49	%		1.45	%
ALL/Loans, net		1.87	%		1.49	%		1.50	%		1.43	%		1.39	%
NPAs (ex. 90+ past due)/Loans and foreclosed properties		1.76	%		1.79	%		1.65	%		1.25	%		0.90	%
NPAs (ex. 90+ past due)/Loans and foreclosed properties - excludes loans held for sale		1.33	%		1.66	%		1.65	%		1.25	%		0.90	%
NPAs (inc. 90+ past due)/Loans and foreclosed properties		2.33	%		2.25	%		2.09	%		1.73	%		1.28	%
NPAs (inc. 90+ past due)/Loans and foreclosed properties - excludes loans held for sale		1.89	%		2.12	%		2.08	%		1.73	%		1.28	%

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

Allowance for Credit Losses

	Year Ended December 31
($ amounts in thousands)	2008			2007
Balance at beginning of year	$	1,379,498		$	1,107,788
Net loans charged-off		(1,547,085	)		(270,522	)
Allowance allocated to sold loans		(5,010	)		(19,369	)
Provision for loan losses, from continuing operations		2,057,000			555,000
Provision for loan losses, from discontinued operations		—			182
Provision for unfunded credit commitments		15,276			6,419
Balance at end of period	$	1,899,679		$	1,379,498
Components:
Allowance for loan losses	$	1,826,149		$	1,321,244
Reserve for unfunded credit commitments		73,530			58,254
Allowance for credit losses	$	1,899,679		$	1,379,498

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

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FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 15

Loan Portfolio - Risk View

Total Loan Portfolio and Net Charge-offs

	Ending Balance										% of Total Loans
($ in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	19,580,287	$	19,221,577	$	18,952,630	$	17,463,045	$	16,533,176	20	%	19	%	19	%	18	%	17	%
Commercial Real Estate - Owner-Occupied Mortgages		4,780,136		4,646,456		4,611,848		4,690,719		4,528,875	5	%	5	%	5	%	5	%	5	%
Total Commercial		24,360,423		23,868,033		23,564,478		22,153,764		21,062,051	25	%	24	%	24	%	23	%	22	%
Commercial Real Estate (1)
CRE - Non-Owner-Occupied Mortgages		10,732,193		10,306,214		9,779,868		9,607,134		8,201,155	11	%	11	%	9	%	10	%	8	%
Non-Owner Occupied Construction		8,623,809		9,325,158		8,886,995		n/a		n/a	9	%	10	%	10	%	n/a		n/a
Owner Occupied Construction		1,235,391		1,352,603		1,971,803		n/a		n/a	1	%	1	%	2	%	n/a		n/a
Construction		9,859,200		10,677,761		10,858,798		10,784,692		11,985,886	10	%	11	%	11	%	11	%	14	%
Total Commercial Real Estate		20,591,393		20,983,975		20,638,666		20,391,826		20,187,041	21	%	22	%	21	%	21	%	22	%
Business and Community Banking (1)
Commercial and Industrial		4,015,130		4,289,646		4,289,088		n/a		n/a	4	%	4	%	4	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		6,941,711		6,922,625		6,665,011		n/a		n/a	7	%	7	%	7	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		3,754,284		3,844,764		3,862,672		n/a		n/a	4	%	4	%	4	%	n/a		n/a
Non-Owner Occupied Construction		405,016		485,306		591,184		n/a		n/a	0	%	0	%	0	%	n/a		n/a
Owner Occupied Construction		369,830		457,072		551,417		n/a		n/a	0	%	0	%	0	%	n/a		n/a
Construction		774,847		942,378		1,142,601		n/a		n/a	1	%	1	%	1	%	n/a		n/a
Total Business and Community Banking		15,485,973		15,999,412		15,959,372		16,030,169		16,211,732	16	%	16	%	16	%	17	%	16	%
Residential First Mortgage
Alt-A		2,549,468		2,615,498		2,660,288		2,743,467		2,830,062	2	%	2	%	3	%	3	%	3	%
Residential First Mortgage		13,289,547		13,575,213		13,803,811		14,019,883		14,129,484	14	%	14	%	14	%	14	%	15	%
Total Residential First Mortgage		15,839,015		16,190,711		16,464,099		16,763,350		16,959,546	16	%	16	%	17	%	17	%	18	%
Consumer
Home Equity Lending		16,130,255		15,848,995		15,446,740		15,034,850		14,962,007	17	%	16	%	16	%	16	%	16	%
Indirect Lending		3,853,770		4,211,078		4,145,457		3,961,782		3,938,113	4	%	4	%	4	%	4	%	4	%
Direct Lending		826,279		872,924		927,865		974,684		1,066,184	1	%	1	%	1	%	1	%	1	%
Other Consumer		331,576		736,681		1,119,902		1,075,006		992,175	0	%	1	%	1	%	1	%	1	%
Total Other Consumer		21,141,880		21,669,678		21,639,964		21,046,322		20,958,479	22	%	22	%	22	%	22	%	22	%
Total Loans	$	97,418,685	$	98,711,810	$	98,266,579	$	96,385,431	$	95,378,847	100	%	100	%	100	%	100	%	100	%
	Net Charge-offs (2)										% of Loans* (2)
($ in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	42,954	$	28,316	$	7,374	$	27,828	$	24,784	0.86	%	0.61	%	0.16	%	0.67	%	0.49	%
Commercial Real Estate - Owner-Occupied Mortgages		25,844		7,918		7,866		4,433		2,643	2.21	%	0.72	%	0.70	%	0.40	%	0.13	%
Total Commercial		68,798		36,234		15,240		32,261		27,427	1.11	%	0.63	%	0.27	%	0.61	%	0.39	%
Commercial Real Estate (1)
CRE - Non-Owner-Occupied Mortgages		241,363		48,920		22,320		5,247		9,903	9.14	%	2.11	%	0.99	%	0.24	%	0.73	%
Non-Owner Occupied Construction		299,827		188,898		n/a		n/a		n/a	12.77	%	7.52	%	n/a		n/a		n/a
Owner Occupied Construction		3,663		4,990		n/a		n/a		n/a	1.08	%	1.06	%	n/a		n/a		n/a
Construction		303,490		193,888		44,929		12,666		16,111	11.30	%	6.50	%	1.55	%	0.44	%	0.48	%
Total Commercial Real Estate		544,853		242,807		67,249		17,913		26,014	10.23	%	4.58	%	1.31	%	0.35	%	0.55	%
Business and Community Banking (1)
Commercial and Industrial		29,607		22,957		18,977		n/a		n/a	2.84	%	2.12	%	1.78	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		6,182		1,052		1,083		n/a		n/a	0.36	%	0.06	%	0.07	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		3,378		1,389		580		n/a		n/a	0.35	%	0.15	%	0.06	%	n/a		n/a
Non-Owner Occupied Construction		773		4,605		n/a		n/a		n/a	0.67	%	2.76	%	n/a		n/a		n/a
Owner Occupied Construction		380		183		n/a		n/a		n/a	0.34	%	0.10	%	n/a		n/a		n/a
Construction		1,153		4,788		1,108		n/a		n/a	0.51	%	1.38	%	0.30	%	n/a		n/a
Total Business and Community Banking		40,320		30,186		21,748		23,568		10,313	1.02	%	0.75	%	0.55	%	0.59	%	0.39	%
Residential First Mortgage
Alt-A		6,583		3,968		2,978		2,106		1,822	1.03	%	0.60	%	0.45	%	0.31	%	0.26	%
Residential First Mortgage		35,533		14,400		8,523		7,356		5,611	1.05	%	0.42	%	0.25	%	0.21	%	0.16	%
Total Residential First Mortgage		42,116		18,368		11,501		9,462		7,433	1.05	%	0.45	%	0.28	%	0.23	%	0.18	%
Consumer
Home Equity Lending		69,228		62,540		73,406		21,072		11,513	1.72	%	1.59	%	1.94	%	0.57	%	0.31	%
Indirect Lending		14,563		10,173		8,037		8,381		7,752	1.43	%	0.96	%	0.80	%	0.85	%	0.77	%
Direct Lending		3,411		2,996		2,641		2,361		2,911	1.61	%	1.33	%	1.11	%	0.94	%	1.09	%
Other Consumer		12,703		13,080		9,129		10,740		14,109	8.24	%	4.76	%	3.41	%	3.74	%	5.21	%
Total Other Consumer		99,905		88,789		93,213		42,554		36,285	1.85	%	1.62	%	1.76	%	0.81	%	0.69	%
Total Loans	$	795,992	$	416,384	$	208,951	$	125,758	$	107,472	3.19	%	1.68	%	0.86	%	0.53	%	0.45	%

90+ Days Past Due Loans and Non-accrual Loans

	90+ Past Due (2)										% of Loans* (2)
($ in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	2,171	$	1,907	$	3,977	$	28,405	$	5,984	0.01	%	0.01	%	0.02	%	0.16	%	0.04	%
Commercial Real Estate - Owner-Occupied		6,637		317		1,635		2,475		1,112	0.14	%	0.01	%	0.04	%	0.05	%	0.02	%
Total Commercial		8,808		2,224		5,612		30,880		7,096	0.04	%	0.01	%	0.02	%	0.14	%	0.03	%
Commercial Real Estate (1)
CRE - Non-Owner- Occupied Mortgages		7,237		7,662		3,786		17,732		7,625	0.07	%	0.07	%	0.04	%	0.18	%	0.09	%
Non-Owner Occupied Construction		10,889		357		14,712		n/a		n/a	0.13	%	0.00	%	0.17	%	n/a		n/a
Owner Occupied Construction		2,371		4,310		2,662		n/a		n/a	0.19	%	0.32	%	0.14	%	n/a		n/a
Construction		13,260		4,667		17,374		10,782		18,535	0.13	%	0.04	%	0.16	%	0.10	%	0.15	%
Total Commercial Real Estate		20,497		12,329		21,160		28,514		26,160	0.10	%	0.06	%	0.10	%	0.14	%	0.13	%
Business and Community Banking (1)
Commercial and Industrial		11,895		8,422		6,551		n/a		n/a	0.30	%	0.20	%	0.15	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		6,103		4,969		5,721		n/a		n/a	0.09	%	0.07	%	0.09	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		4,688		2,469		4,698		n/a		n/a	0.12	%	0.06	%	0.12	%	n/a		n/a
Non-Owner Occupied Construction		860		674		58		n/a		n/a	0.21	%	0.14	%	0.01	%	n/a		n/a
Owner Occupied Construction		296		3,104		410		n/a		n/a	0.08	%	0.68	%	0.07	%	n/a		n/a
Construction		1,156		3,778		468		n/a		n/a	0.15	%	0.40	%	0.04	%	n/a		n/a
Total Business and Community Banking		23,842		19,638		17,438		19,960		10,638	0.15	%	0.12	%	0.11	%	0.12	%	0.07	%
Residential First Mortgage
Alt-A		108,785		95,966		79,658		67,275		41,125	4.27	%	3.67	%	2.99	%	2.45	%	1.45	%
Residential First Mortgage		163,191		144,285		130,794		118,654		113,281	1.23	%	1.06	%	0.95	%	0.85	%	0.80	%
Total Residential First Mortgage		271,976		240,251		210,452		185,929		154,406	1.72	%	1.48	%	1.28	%	1.11	%	0.91	%
Consumer
Home Equity Lending		214,437		172,894		166,816		192,836		146,808	1.33	%	1.09	%	1.08	%	1.28	%	0.98	%
Indirect Lending		7,854		4,228		4,581		4,233		6,002	0.20	%	0.10	%	0.11	%	0.11	%	0.15	%
Direct Lending		2,786		2,672		2,507		2,971		2,997	0.34	%	0.31	%	0.27	%	0.30	%	0.28	%
Other Consumer		4,158		2,854		3,392		2,052		2,578	1.25	%	0.39	%	0.30	%	0.19	%	0.26	%
Total Other Consumer		229,235		182,648		177,296		202,092		158,385	1.08	%	0.84	%	0.82	%	0.96	%	0.76	%
Total Loans	$	554,358	$	457,090	$	431,958	$	467,375	$	356,685	0.57	%	0.46	%	0.44	%	0.48	%	0.37	%
	Non-accrual loans (excludes held for sale) (2)										% of Loans* (2)
($ in thousands)	4Q08		3Q08		2Q08		1Q08		4Q07		4Q08		3Q08		2Q08		1Q08		4Q07
Commercial
Commercial and Industrial/Leases	$	118,120	$	161,815	$	132,480	$	89,412	$	55,355	0.60	%	0.84	%	0.70	%	0.51	%	0.33	%
Commercial Real Estate - Owner-Occupied		131,072		148,597		138,044		110,579		105,494	2.74	%	3.20	%	2.99	%	2.36	%	2.33	%
Total Commercial		249,192		310,412		270,524		199,991		160,849	1.02	%	1.30	%	1.15	%	0.90	%	0.76	%
Commercial Real Estate (1)
CRE - Non-Owner- Occupied Mortgages		260,601		352,503		274,664		207,907		148,539	2.43	%	3.42	%	2.81	%	2.16	%	1.81	%
Non-Owner Occupied Construction		268,833		518,256		640,303		n/a		n/a	3.12	%	5.56	%	7.20	%	n/a		n/a
Owner Occupied Construction		23,395		27,407		28,626		n/a		n/a	1.89	%	2.03	%	1.45	%	n/a		n/a
Construction		292,228		545,663		668,929		446,861		304,941	2.96	%	5.11	%	6.16	%	4.14	%	2.54	%
Total Commercial Real Estate		552,829		898,166		943,593		654,768		453,480	2.68	%	4.28	%	4.57	%	3.21	%	2.25	%
Business and Community Banking (1)
Commercial and Industrial		57,352		52,994		48,908		n/a		n/a	1.43	%	1.24	%	1.14	%	n/a		n/a
Commercial Real Estate - Owner-Occupied Mortgages		65,741		47,698		37,672		n/a		n/a	0.95	%	0.69	%	0.57	%	n/a		n/a
CRE - Non-Owner-Occupied Mortgages		30,996		25,478		18,459		n/a		n/a	0.83	%	0.66	%	0.48	%	n/a		n/a
Non-Owner Occupied Construction		3,903		4,237		2,960		n/a		n/a	0.96	%	0.87	%	0.50	%	n/a		n/a
Owner Occupied Construction		2,473		4,877		4,193		n/a		n/a	0.67	%	1.07	%	0.76	%	n/a		n/a
Construction		6,376		9,114		7,153		n/a		n/a	0.82	%	0.97	%	0.63	%	n/a		n/a
Total Business and Community Banking		160,465		135,284		112,192		100,991		75,930	1.04	%	0.85	%	0.70	%	0.63	%	0.47	%
Residential First Mortgage
Alt-A		30,590		24,285		20,259		14,271		8,534	1.20	%	0.93	%	0.76	%	0.52	%	0.30	%
Residential First Mortgage		55,289		70,116		50,285		41,750		38,177	0.42	%	0.52	%	0.36	%	0.30	%	0.27	%
Total Residential First Mortgage		85,880		94,401		70,544		56,021		46,711	0.54	%	0.58	%	0.43	%	0.33	%	0.28	%
Consumer
Home Equity Lending		3,238		2,226		13,335		12,428		6,611	0.02	%	0.01	%	0.09	%	0.08	%	0.04	%
Indirect Lending		1		15		—		1		8	0.00	%	0.00	%	0.00	%	0.00	%	0.00	%
Direct Lending		1		30		315		1		—	0.00	%	0.00	%	0.03	%	0.00	%	0.00	%
Other Consumer		164		89		1		—		—	0.05	%	0.01	%	0.00	%	0.00	%	0.00	%
Total Other Consumer		3,404		2,360		13,651		12,430		6,619	0.02	%	0.01	%	0.06	%	0.06	%	0.03	%
Total Loans	$	1,051,770	$	1,440,623	$	1,410,504	$	1,024,201	$	743,589	1.08	%	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

(2) Information prior to 4Q08 does not reflect reclassifications between various Commercial Real Estate and Business and Community Banking categories

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PAGE 16

Loan Portfolio Charge-off View(for the quarter ended 12/31/08)

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PAGE 17

• Portfolio well-diversified by product type

• Includes $4.1 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 $2.7 billion (43%) since December 2006

• Condominium balances down $1.3 billion (58%) since December 2006

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PAGE 18

Residential Homebuilder Portfolio - $4.4 billion(as of 12/31/08) (1) 

Portfolio Breakout by Category

Product Breakout

	Lots			Residential Presold			Residential Spec			Land			National Homebuilders/Other			Total Portfolio
($ in thousands)	$	%*		$	%*		$	%*		$	%*		$	%*		$	%*
Ending Outstandings	966,771			300,181			1,296,540			1,553,255			285,521			4,402,268
Current Quarter Charge-offs	76,921	29.17	%	36,476	38.00	%	72,473	20.42	%	110,766	25.79	%	15,356	21.78	%	311,992	25.69	%
90+ Past Due	4,077	0.42	%	367	0.12	%	7,446	0.57	%	5,500	0.35	%	—	—		17,390	0.40	%
Non-Accruing Loans	57,937	5.99	%	11,199	3.73	%	110,365	8.51	%	89,241	5.75	%	27,486	9.63	%	296,228	6.73	%
Average Note Size:
Total Portfolio	235	—		356	—		269	—		727	—		1,231	—		362	—
Central	216	—		180	—		203	—		736	—		407	—		291	—
Florida	506	—		1,197	—		623	—		1,850	—		1,526	—		910	—

* Percentage of related product outstandings; charge-offs shown as annualized, and calculated on an average outstandings balance

• Average note size of the homebuilder portfolio is $362,000

• Non-accruing loans represent 6.7 percent of the total homebuilder portfolio with the highest concentrations in the Florida and Central (mainly Atlanta) regions

• $4.4 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

(1) Excludes loans held for sale

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

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PAGE 19

Consumer Real Estate - $32 billion (as of 12/31/08)

	Outstandings*		Wgtd Avg. LTV		Wgtd Avg. FICO	Avg. Loan Size		% in 1st Lien
Home Equity Lending	$	16,130,255	74	%	737	$	74,296	42	%
Residential 1st Mortgage		13,289,548	66	%	726		176,202	99	%
Alt-A		2,549,468	71	%	704		179,654	100	%
Total Consumer RE Portfolio	$	31,969,271	71	%	729	$	120,292	71	%

* $ in thousands

Note: Pie chart represents entire loan portfolio

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Home Equity Lending Net Charge-off Analysis

		4Q08									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			1st Lien			2nd Lien			Total
Florida	Net Charge-off %*		1.71	%		4.37	%		3.40	%		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	$	8.9		$	39.9		$	48.8		$	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	$	2,121.6		$	3,662.9		$	5,784.5		$	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		65.8	%		76.5	%		72.6	%
All Other States	Net Charge-off %*		0.52	%		1.00	%		0.79	%		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	$	6.0		$	14.4		$	20.4		$	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	$	4,624.0		$	5,721.7		$	10,345.7		$	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		68.2	%		80.1	%		74.7	%
Totals	Net Charge-off %*		0.89	%		2.31	%		1.72	%		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	$	14.9		$	54.3		$	69.2		$	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	$	6,745.6		$	9,384.6		$	16,130.2		$	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		67.4	%		78.7	%		73.9	%

• 23% Florida second lien concentration driving results

• Second lien, Florida net charge-offs represent 58% of 3Q08 net charge-offs but just 23% of outstanding balances

• Net charge-offs in Florida approximately 4.3 times non-Florida net charge-off rate

• Origination quality solid with an average FICO of 737 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

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PAGE 21

Additional Financial and Operational Data

	12/31/08	9/30/08	6/30/08	3/31/08	12/31/07
Associate headcount	30,784	30,673	31,564	32,143	33,161
Authorized shares remaining under buyback program	23.1MM	23.1MM	23.1MM	23.1MM	23.1MM
Total branch outlets	1,900	1,940	1,936	1,938	1,965
ATMs	2,336	2,361	2,410	2,464	2,490
Morgan Keegan offices	332	360	378	397	416

Merger-Related Items

(Pre-tax dollars in thousands)

	Income Statement Effect		Goodwill			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 marked the final quarter that merger charges were recognized

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PAGE 22

Reconciliation to GAAP Financial Measures

The table below presents computations of earnings and certain other financial measures excluding discontinued operations, merger charges and goodwill impairment (non-GAAP). Merger charges and goodwill impairment are included in financial results presented in accordance with generally accepted accounting principles (GAAP). Regions believes the exclusion of merger charges and goodwill impairment in expressing earnings and certain other financial measures, including “earnings per share from continuing operations, excluding merger charges and goodwill impairment” and “return on average tangible common equity, excluding discontinued operations, merger charges and goodwill impairment”, 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 and goodwill impairment 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 goodwill impairment 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 and goodwill impairment does not represent the amount that effectively accrues directly to stockholders (i.e., merger charges and goodwill impairment are a reduction in earnings and stockholders’ equity).

		As of and for Quarter Ended															As of and for Year Ended
($ amounts in thousands, except per share data)		12/31/08			09/30/08			06/30/08			03/31/08			12/31/07			12/31/2008			12/31/2007
INCOME
Income (loss) from continuing operations (GAAP)		$	(6,218,027	)	$	90,358		$	206,646		$	336,710		$	71,115		$	(5,584,313	)	$	1,393,163
Preferred stock expense (GAAP)			(26,236	)		—			—			—			—			(26,236	)		—
Income (loss) from continuing operations available to common shareholders (GAAP)		$	(6,244,263	)	$	90,358		$	206,646		$	336,710		$	71,115		$	(5,610,549	)	$	1,393,163
Loss from discontinued operations, net of tax (GAAP)			(269	)		(10,897	)		(253	)		(42	)		(474	)		(11,461	)		(142,068	)
Income (loss) available to common shareholders (GAAP)	A	$	(6,244,532	)	$	79,461		$	206,393		$	336,668		$	70,641		$	(5,622,010	)	$	1,251,095
Income (loss) from continuing operations available to common shareholders (GAAP)		$	(6,244,263	)	$	90,358		$	206,646		$	336,710		$	71,115		$	(5,610,549	)	$	1,393,163
Merger-related charges, pre-tax
Salaries and employee benefits			—			24,515			46,797			62,089			97,224			133,401			158,613
Net occupancy expense			—			—			1,932			1,399			3,891			3,331			33,834
Furniture and equipment expense			—			—			5,129			(144	)		1,677			4,985			4,856
Other			—			—			46,200			12,254			47,370			58,454			153,564
Total merger-related charges, pre-tax			—			24,515			100,058			75,598			150,162			200,171			350,867
Merger-related charges, net of tax			—			15,200			62,035			46,871			93,505			124,106			217,537
Goodwill impairment			6,000,000			—			—			—			—			6,000,000			—
Income (loss) excluding discontinued operations, merger-related charges, and goodwill impairment (non-GAAP)	B	$	(244,263	)	$	105,558		$	268,681		$	383,581		$	164,620		$	513,557		$	1,610,700
Weighted average diluted shares	C		693,000			696,205			696,346			695,548			696,895			695,003			712,743
Earnings (loss) per share available to common - diluted (GAAP)	A/C	$	(9.01	)	$	0.11		$	0.30		$	0.48		$	0.10		$	(8.09	)	$	1.76
Earnings (loss) per share available to common, excluding discontinued operations, merger-related charges, and goodwill impairment - diluted (non-GAAP)	B/C	$	(0.35	)	$	0.15		$	0.39		$	0.55		$	0.24		$	0.74		$	2.26
RETURN ON AVERAGE TANGIBLE EQUITY
Average equity (GAAP)		$	20,409,894		$	19,713,468		$	19,782,168		$	19,843,914		$	19,868,796		$	19,939,407		$	20,036,459
Average intangible assets (GAAP)			11,086,329			12,194,962			12,221,261			12,254,861			12,232,366			11,949,657			12,130,417
Average preferred equity			1,690,164			—			—			—			—			424,850			—
Average tangible common equity	D	$	7,633,401		$	7,518,506		$	7,560,907		$	7,589,053		$	7,636,430		$	7,564,900		$	7,906,042
Average equity, excluding discontinued operations		$	20,409,894		$	19,713,468		$	19,782,168		$	19,843,914		$	19,868,796		$	19,939,407		$	20,013,170
Average intangible assets, excluding discontinued operations			11,086,329			12,194,962			12,221,261			12,254,861			12,232,365			11,949,657			12,130,417
Average preferred equity			1,690,164			—			—			—			—			424,850			—
Average tangible common equity, excluding discontinued operations	E	$	7,633,401		$	7,518,506		$	7,560,907		$	7,589,053		$	7,636,431		$	7,564,900		$	7,882,753
Return on average tangible common equity*	A/D		NM			4.20	%		10.98	%		17.84	%		3.67	%		-74.32	%		15.82	%
Return on average tangible common equity, ex. discontinued operations, merger-related charges, and goodwill impairment (non-GAAP)*	B/E		NM			5.59	%		14.29	%		20.33	%		8.55	%		6.79	%		20.43	%

* Income statement amounts have been annualized in calculation

FINANCIAL SUPPLEMENT TO

FOURTH QUARTER 2008 EARNINGS RELEASE

PAGE 23

Forward-Looking Statements

This supplement may include forward-looking statements, which reflect Regions current views with respect to future events and financial performance. 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 real estate markets, including possible continued deterioration in 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 Forms 10-Q for the quarters ended September 30, 2008, 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