Regions Financial (RF) 10-Q 4 Nov 09 2009 Q3 Quarterly report Financial data

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Millions	Sep. 30, 2009	Dec. 31, 2008	Sep. 30, 2008
Assets
Cash and due from banks	$2,101	$2,643	$2,986
Interest-bearing deposits in other banks	5,902	7,540	30
Federal funds sold and securities purchased under agreements to resell	366	790	542
Trading account assets	1,388	1,050	1,268
Securities available for sale	21,030	18,850	17,633
Securities held to maturity	39	47	50
Loans held for sale (includes $726, $506 and $495 measured at fair value at September 30, 2009, December 31, 2008 and September 30, 2008, respectively)	1,470	1,282	1,054
Loans, net of unearned income	92,754	97,419	98,712
Allowance for loan losses	(2,627)	(1,826)	(1,472)
Net loans	90,127	95,593	97,240
Other interest-earning assets	839	897	587
Premises and equipment, net	2,694	2,786	2,730
Interest receivable	499	458	512
Goodwill	5,557	5,548	11,529
Mortgage servicing rights	216	161	263
Other identifiable intangible assets	535	638	675
Other assets	7,223	7,965	7,193
Total assets	139,986	146,248	144,292
Deposits:
Non-interest-bearing	21,226	18,457	18,045
Interest-bearing	73,654	72,447	71,176
Total deposits	94,880	90,904	89,221
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase	2,633	3,143	10,427
Other short-term borrowings	2,653	12,679	7,115
Total short-term borrowings	5,286	15,822	17,542
Long-term borrowings	18,093	19,231	14,168
Total borrowed funds	23,379	35,053	31,710
Other liabilities	3,235	3,478	3,656
Total liabilities	121,494	129,435	124,587
Preferred stock, authorized 10 million shares
Series A, cumulative perpetual participating, par value $1.00 (liquidation preference $1,000.00) per share, net of discount; Issued-3,500,000 shares	3,334	3,307	0
Series B, mandatorily convertible, cumulative perpetual participating, par value $1,000.00 (liquidation preference $1,000.00) per share; Issued-287,500 shares	278	0	0
Common stock, par value $.01 per share: Authorized 1.5 billion shares Issued including treasury stock-1,231,352,421; 735,667,650 and 735,769,666 shares, respectively	12	7	7
Additional paid-in capital	18,754	16,815	16,607
Retained earnings (deficit)	(2,618)	(1,869)	4,445
Treasury stock, at cost-43,316,136; 44,301,693 and 43,813,524 shares, respectively	(1,411)	(1,425)	(1,424)
Accumulated other comprehensive income (loss), net	143	(22)	70
Total stockholders' equity	18,492	16,813	19,705
Total liabilities and stockholders' equity	$139,986	$146,248	$144,292

1_Statement Of Financial Positi

Statement Of Financial Position Unclassified - Deposit Based Operations (Parenthetical) (USD $)
In Millions, except Share data	Sep. 30, 2009	Dec. 31, 2008	Sep. 30, 2008
Loans held for sale, at fair value	$726	$506	$495
Preferred stock, authorized	10,000,000	10,000,000	10,000,000
Common stock, par value	0.01	0.01	0.01
Common stock, Authorized	1,500,000,000	1,500,000,000	1,500,000,000
Common stock, Issued including treasury stock	1,231,352,421	735,667,650	735,769,666
Treasury stock, shares	43,316,136	44,301,693	43,813,524
Series A cumulative perpetual participating Preferred stock
Preferred Stock, par value	$1	$1	$0
Preferred Stock, liquidation preference	$10	$10	$0
Preferred Stock, Issued	3,500,000	3,500,000	0
Series B, mandatorily convertible cumulative perpetual participating Preferred Stock
Preferred Stock, par value	$10	$0	$0
Preferred Stock, liquidation preference	$10	$0	$0
Preferred Stock, Issued	287,500	0	0

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Millions, except Per Share data	3 Months Ended Sep. 30, 2009		3 Months Ended Sep. 30, 2008		9 Months Ended Sep. 30, 2009		9 Months Ended Sep. 30, 2008
Interest income on:
Loans, including fees	$1,047		$1,318		$3,218		$4,222
Securities:
Taxable	232		208		710		616
Tax-exempt	6		11		18		31
Total securities	238		219		728		647
Loans held for sale	12		9		43		27
Federal funds sold and securities purchased under agreements to resell	0		5		2		16
Trading account assets	10		13		32		52
Other interest-earning assets	7		5		21		18
Total interest income	1,314		1,569		4,044		4,982
Interest expense on:
Deposits	301		391		997		1,316
Short-term borrowings	9		102		45		300
Long-term borrowings	159		154		517		447
Total interest expense	469		647		1,559		2,063
Net interest income	845		922		2,485		2,919
Provision for loan losses	1,025		417		2,362		907
Net interest income (loss) after provision for loan losses	(180)		505		123		2,012
Non-interest income:
Service charges on deposit accounts	300		294		857		860
Brokerage, investment banking and capital markets	252		241		732		786
Mortgage income	76		33		213		104
Trust department income	49		66		143		182
Securities gains, net	4		0		165		92
Other	91		85		927		347
Total non-interest income	772		719		3,037		2,371
Non-interest expense:
Salaries and employee benefits	578		552		1,703		1,794
Net occupancy expense	121		110		340		328
Furniture and equipment expense	83		88		237		255
Impairment (recapture) of mortgage servicing rights	0		11		0		(14)
Other-than-temporary impairments	3	[1]	9	[1]	75	[1]	10	[1]
Other	458		358		1,177		1,146
Total non-interest expense	1,243		1,128		3,532		3,519
Income (loss) from continuing operations before income taxes	(651)		96		(372)		864
Income taxes	(274)		6		116		231
Income (loss) from continuing operations	(377)		90		(488)		633
Discontinued operations (Note 13):
Loss from discontinued operations before income taxes	0		(18)		0		(18)
Income tax benefit	0		(7)		0		(7)
Loss from discontinued operations, net of tax	0		(11)		0		(11)
Net income (loss)	(377)		79		(488)		622
Net income (loss) available to common shareholders	($437)		$79		($655)		$622
Weighted-average number of shares outstanding:
Basic	1,189		696		921		696
Diluted	1,189		696		921		696
Earnings (loss) per common share from continuing operations:
Basic	-0.37		0.13		-0.71		0.91
Diluted	-0.37		0.13		-0.71		0.91
Earnings (loss) per common share from discontinued operations:
Basic	$0		-0.02		$0		-0.02
Diluted	$0		-0.02		$0		-0.02
Earnings (loss) per common share:
Basic	-0.37		0.11		-0.71		0.89
Diluted	-0.37		0.11		-0.71		0.89
Cash dividends declared per common share	0.01		0.1		0.12		0.86
[1]Includes $3 million for the three months ended and $266 million for the nine months ended September 30, 2009, respectively, of gross charges, net of $0 for the three months ended and $191 million for the nine months ended September 30, 2009, respectively, of non-credit portion reported in other comprehensive income (loss).

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions		Preferred Stock Amount		Common Stock Amount	Additional Paid-In Capital	Retained Earnings (Deficit)	Treasury Stock, At Cost	Accumulated Other Comprehensive Income (Loss)		Total
BEGINNING BALANCE at Dec. 31, 2007		$0		$7	$16,545	$4,439	($1,371)	$203		$19,823
BEGINNING BALANCE at Dec. 31, 2007	0		694
Cumulative effect of changes in accounting principles due to adoption of new accounting literature						(17)				(17)
Comprehensive income:
Net income						622				622
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment, excluding non-credit portion of other-than-temporary impairments								(116)	[1]	(116)	[1]
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment								(18)	[1]	(18)	[1]
Net change from defined benefit pension plans, net of tax								1	[1]	1	[1]
Cash dividends declared-$0.12 per share in 2009 and $0.86 per share in 2008						(599)				(599)
Common stock transactions:
Stock transactions with employees under compensation plans, net			(2)
Stock transactions with employees under compensation plans, net					(2)		(53)			(55)
Stock options exercised and related activity, net					24					24
Amortization of unearned restricted stock					40					40
ENDING BALANCE at Sep. 30, 2008	0		692
ENDING BALANCE at Sep. 30, 2008		0		7	16,607	4,445	(1,424)	70		19,705
BEGINNING BALANCE at Jun. 30, 2008		0		7
BEGINNING BALANCE at Jun. 30, 2008	0
Common stock transactions:
ENDING BALANCE at Sep. 30, 2008	0
ENDING BALANCE at Sep. 30, 2008		0		7
BEGINNING BALANCE at Dec. 31, 2008		3,307		7	16,815	(1,869)	(1,425)	(22)		16,813
BEGINNING BALANCE at Dec. 31, 2008	4		691
Comprehensive income:
Net income						(488)				(488)
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment, excluding non-credit portion of other-than-temporary impairments								389	[1]	389	[1]
Non-credit portion of other-than-temporary impairments recognized in other comprehensive income, net of tax								(124)	[1]	(124)	[1]
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment								(120)	[1]	(120)	[1]
Net change from defined benefit pension plans, net of tax								20	[1]	20	[1]
Cash dividends declared-$0.12 per share in 2009 and $0.86 per share in 2008						(94)				(94)
Preferred dividends						(140)				(140)
Preferred stock transactions:
Net proceeds from issuance of 287,500 shares of mandatorily convertible preferred stock		278								278
Discount accretion		27				(27)				0
Common stock transactions:
Net proceeds from issuance of 460 million shares of common stock			460
Net proceeds from issuance of 460 million shares of common stock				5	1,764					1,769
Issuance of 33 million shares of common stock issued in connection with early extinguishment of debt			33
Issuance of 33 million shares of common stock issued in connection with early extinguishment of debt					135					135
Stock transactions with employees under compensation plans, net			4
Stock transactions with employees under compensation plans, net							14			14
Stock options exercised and related activity, net					13					13
Amortization of unearned restricted stock					27					27
ENDING BALANCE at Sep. 30, 2009	4		1,188
ENDING BALANCE at Sep. 30, 2009		$3,612		$12	$18,754	($2,618)	($1,411)	$143		$18,492
BEGINNING BALANCE at Jun. 30, 2009	4
Common stock transactions:
ENDING BALANCE at Sep. 30, 2009	4
[1]See disclosure of reclassification adjustment amount and tax effect, as applicable, in Note 3 to the consolidated financial statements .

2_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	Retained Earnings (Deficit)	Total
Cash dividends declared, per share	0.86	0.86
Cash dividends declared, per share	0.12	0.12

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Millions	3 Months Ended Sep. 30, 2009	3 Months Ended Sep. 30, 2008	9 Months Ended Sep. 30, 2009	9 Months Ended Sep. 30, 2008
Operating activities:
Net income (loss)	($377)	$79	($488)	$622
Adjustments to reconcile net cash provided by operating activities:
Provision for loan losses			2,362	907
Depreciation and amortization of premises and equipment			212	213
Recapture of mortgage servicing rights	0	11	0	(14)
Provision for losses on other real estate, net			90	62
Net accretion of securities			(9)	(12)
Net amortization of loans and other assets			192	104
Net accretion of deposits and borrowings			(13)	(12)
Net securities gains	(4)	0	(165)	(92)
Net loss on sale of premises and equipment			0	1
(Gain) loss on early extinguishment of debt			(61)	66
Other-than-temporary impairments, net			75	10
Deferred income tax benefit			(471)	(121)
Originations and purchases of loans held for sale			(8,139)	(4,435)
Proceeds from sales of loans held for sale			8,318	4,704
Gain on sale of loans, net			(79)	(42)
Loss from sale of mortgage servicing rights			0	15
Increase in trading account assets			(338)	(177)
Decrease (increase) in other interest-earning assets			58	(83)
(Increase) decrease in interest receivable			(41)	104
Decrease (increase) in other assets			814	(553)
Decrease in other liabilities			(223)	(357)
Other			(11)	41
Net cash from operating activities			2,083	951
Investing activities:
Proceeds from sales of securities available for sale			3,657	2,022
Proceeds from maturities of:
Securities available for sale			4,002	2,331
Securities held to maturity			7	6
Purchases of:
Securities available for sale			(9,312)	(4,692)
Securities held to maturity			0	(5)
Proceeds from sales of loans			212	510
Proceeds from sales of mortgage servicing rights			0	44
Net decrease (increase) in loans			2,478	(5,086)
Net purchases of premises and equipment			(120)	(334)
Net cash received from deposits assumed			279	894
Net cash from investing activities			1,203	(4,310)
Financing activities:
Net increase (decrease) in deposits			3,700	(6,442)
Net (decrease) increase in short-term borrowings			(10,536)	6,421
Proceeds from long-term borrowings			1,602	5,806
Payments on long-term borrowings			(2,482)	(3,038)
Net proceeds from issuance of mandatory convertible preferred stock			278	0
Net proceeds from issuance of common stock			1,769	0
Cash dividends on common stock			(94)	(599)
Cash dividends on preferred stock			(140)	0
Proceeds from exercise of stock options and related activity			13	24
Net cash from financing activities			(5,890)	2,172
Decrease in cash and cash equivalents			(2,604)	(1,187)
Cash and cash equivalents at beginning of year			10,973	4,745
Cash and cash equivalents at end of period	$8,369	$3,558	$8,369	$3,558

NOTE 1-Basis of Presentation

NOTE 1-Basis of Presentation
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 1-Basis of Presentation	NOTE 1Basis of Presentation Regions Financial Corporation (Regions or the Company) provides a full range of banking and bank-related services to individual and corporate customers through its subsidiaries and branch offices located primarily in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. The Company is subject to competition from other financial institutions, is subject to the regulations of certain government agencies and undergoes periodic examinations by those regulatory authorities. The accounting and reporting policies of Regions and the methods of applying those policies that materially affect the consolidated financial statements conform with accounting principles generally accepted in the United States (GAAP) and with general financial services industry practices. The accompanying interim financial statements have been prepared in accordance with the instructions for Form 10-Q and, therefore, do not include all information and notes to the consolidated financial statements necessary for a complete presentation of financial position, results of operations and cash flows in conformity with GAAP. In the opinion of management, all adjustments, consisting of only normal and recurring items, necessary for the fair presentation of the consolidated financial statements have been included. These interim financial statements should be read in conjunction with the consolidated financial statements and notes thereto in Regions Form 10-K for the year ended December31, 2008. Regions has evaluated all subsequent events for potential recognition and disclosure through November3, 2009, the date of the filing of this Form 10-Q. Certain amounts in prior period financial statements have been reclassified to conform to the current period presentation. These reclassifications are immaterial and have no effect on net income, total assets or stockholders equity.

NOTE 2-Earnings

NOTE 2-Earnings (Loss) per Common Share
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 2-Earnings (Loss) per Common Share	NOTE 2Earnings (Loss) per Common Share The following table sets forth the computation of basic earnings (loss) per common share and diluted earnings (loss) per common share: ThreeMonthsEnded September30 NineMonthsEnded September30 (In millions, except per share amounts) 2009 2008 2009 2008 Numerator: Net income (loss) from continuing operations $ (377 ) $ 90 $ (488 ) $ 633 Preferred stock dividends (60 ) (167 ) Net income (loss) from continuing operations available to common shareholders (437 ) 90 (655 ) 633 Loss from discontinued operations, net of tax (11 ) (11 ) Net income (loss) available to common shareholders $ (437 ) $ 79 $ (655 ) $ 622 Denominator: Weighted-average common shares outstandingbasic 1,189 696 921 696 Common stock equivalents Weighted-average common shares outstandingdiluted 1,189 696 921 696 Earnings (loss) per share from continuing operations: Basic $ (0.37 ) $ 0.13 $ (0.71 ) $ 0.91 Diluted (0.37 ) 0.13 (0.71 ) 0.91 Earnings (loss) per share from discontinued operations: Basic (0.02 ) (0.02 ) Diluted (0.02 ) (0.02 ) Earnings (loss) per share: Basic (0.37 ) 0.11 (0.71 ) 0.89 Diluted (0.37 ) 0.11 (0.71 ) 0.89 The effect from the assumed issuance of 65million common shares upon conversion of mandatorily convertible preferred stock issued in May 2009 for both the three and nine months ended September30, 2009 was not included in the above computations of diluted earnings (loss) per common share because such amounts would have had an antidilutive effect on earnings (loss) per common share (see Note 3 for further discussion). The effect from the assumed exercise of 55million stock options for both the three and nine months ended September30, 2009 and 53million stock options for both the three and nine months ended September30, 2008, was not included in the above computations of diluted earnings (loss) per common share because such amounts would have had an antidilutive effect on earnings (loss) per common share

NOTE 3-Stockholders' Equity and

NOTE 3-Stockholders' Equity and Comprehensive Income
	1/1/2009 - 9/30/2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 3-Stockholders' Equity and Comprehensive Income	NOTE 3Stockholders Equity and Comprehensive Income On November14, 2008, Regions completed the sale of 3.5million shares of its Fixed Rate Cumulative Perpetual Preferred Stock, Series A, par value $1.00 and liquidation preference $1,000.00 per share (and $3.5 billion liquidation preference in the aggregate) to the U.S. Treasury as part of the Capital Purchase Program (CPP). Regions will pay the U.S. Treasury on a quarterly basis a 5% dividend, or $175 million annually, for each of the first five years of the investment, and 9% thereafter unless Regions redeems the shares. Regions performed a discounted cash flow analysis to value the preferred stock at the date of issuance. For purposes of this analysis, Regions assumed that the preferred stock would most likely be redeemed five years from the valuation date based on optimal financial budgeting considerations. Regions used the Bloomberg USD US Bank BBB index to derive the market yield curve as of the valuation date to discount future expected cash flows to the valuation date. The discount rate used to value the preferred stock was 7.46%, based on this yield curve at a 5-year maturity. Dividends were assumed to be accrued until redemption. While the discounting was required based on a 5-year redemption, Regions did not have a 5-year security or similarly termed security available. As a result, it was necessary to use a benchmark yield curve to calculate the 5-year value. To determine the appropriate yield curve that was applicable to Regions, the yield to maturity on the outstanding debt instrument with the longest dated maturity (8.875% junior subordinated notes due June 2048) was compared to the longest point on the USD US Bank BBB index as of November14, 2008. Regions concluded that the yield to maturity as of the valuation date of the debt, which was 11.03%, was consistent with the indicative yield of the curve noted above. The longest available point on this curve was 10.55% at 30 years. As part of its purchase of the preferred securities, the U.S. Treasury also received a warrant to purchase 48.3million shares of Regions common stock at an exercise price of $10.88 per share, subject to anti-dilution and other adjustments. The warrant expires ten years from the issuance date. Regions used the Cox-Ross-Rubinstein Binomial Option Pricing Model (CRR Model) to value the warrant at the date of issuance. The CRR Model is a standard option pricing model which incorporates optimal early exercise in order to receive the benefit of future dividend payments. Based on the transferability of the warrant, the CRR Model approach that was applied assumes that the warrant holder will not sub-optimally exercise its warrant. The following assumptions were used in the CRR Model: Stock price(a) $ 9.67 Exercise price(b) $ 10.88 Expected volatility(c) 45.22 % Risk-free rate(d) 4.25 % Dividend yield(e) 3.88 % Warrant term (in years)(b) 10 (a) Closing stock price of Regions as of the valuation date (November 14, 2008). (b) As outlined in the Warrant to Purchase Agreement, dated November14, 2008. (c) Expected volatility

NOTE 4-Pension and Other Postre

NOTE 4-Pension and Other Postretirement Benefits
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 4-Pension and Other Postretirement Benefits	NOTE 4Pension and Other Postretirement Benefits Net periodic pension and other postretirement benefits cost included the following components as follows: For The Three Months Ended September30 Pension OtherPostretirement Benefits (In millions) 2009 2008 2009 2008 Service cost $ $ 10 $ $ Interest cost 22 22 1 Expected return on plan assets (22 ) (30 ) Amortization of prior service cost (credit) 1 Amortization of actuarial loss 11 Settlement charge 1 $ 12 $ 3 $ $ 1 For The Nine Months Ended September30 Pension OtherPostretirement Benefits (In millions) 2009 2008 2009 2008 Service cost $ 2 $ 30 $ $ Interest cost 65 66 1 2 Expected return on plan assets (66 ) (89 ) Amortization of prior service cost (credit) 1 3 (1 ) Amortization of actuarial loss 33 Settlement charge 1 Curtailment gains (4 ) $ 36 $ 6 $ $ 2 The curtailment gains recognized during the first nine months of 2008 resulted from merger-related employment terminations. Beginning in March 2009, participant accruals of service in the Regions Financial Corporation Retirement Plan were temporarily suspended resulting in a reduction in service cost. Matching contributions in the 401(k) plan were temporarily suspended beginning in the second quarter of 2009.

NOTE 5-Share-Based Payments

NOTE 5-Share-Based Payments
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 5-Share-Based Payments	NOTE 5Share-Based Payments Regions has long-term incentive compensation plans that permit the granting of incentive awards in the form of stock options, restricted stock awards and units, and stock appreciation rights. The terms of all awards issued under these plans are determined by the Compensation Committee of the Board of Directors, but no options may be granted after the tenth anniversary of the plans adoption. Options and restricted stock usually vest based on employee service, generally within three years from the date of the grant. The contractual life of options granted under these plans ranges from seven to ten years from the date of grant. The number of remaining share equivalents authorized for future issuance under long-term compensation plans was approximately 6.9million at September30, 2009. In 2009, Regions made a stock option grant that vests based upon a service condition and a market condition in addition to awards that were similar to prior grants. The fair value of these stock options was estimated on the date of the grant using a Monte-Carlo simulation method. The simulation generates a defined number of stock price paths in order to develop a reasonable estimate of the range of future expected stock prices and minimize standard error. For all other grants that vest solely upon a service condition, the fair value of stock options is estimated at the date of the grant using a Black-Scholes option pricing model and related assumptions. The following table summarizes the weighted-average assumptions used and the estimated fair values related to stock options granted during the nine months ended September30: September30 2009 2008 Expected dividend yield 1.85 % 6.87 % Expected volatility 67.15 % 26.40 % Risk-free interest rate 2.80 % 2.91 % Expected option life 6.8 yrs. 5.8 yrs. Fair value $ 1.78 $ 2.47 During 2009, the expected dividend yield decreased based upon the markets expectation of reduced dividends in the near term. The expected volatility increased based upon increases in the historical volatility of Regions stock price and the implied volatility measurements from traded options on the Companys stock. The expected option life increased due to changes in the employee grant base and employee exercise behavior. The following table details the activity during the first nine months of 2009 and 2008 related to stock options: For the Nine Months Ended September30 2009 2008 Number of Options Wtd.Avg. Exercise Price Number of Options Wtd.Avg. Exercise Price Outstanding at beginning of period 52,955,298 $ 28.22 48,044,207 $ 29.71 Granted 4,063,209 3.29 9,872,751 21.66 Exercised (90,801 ) 17.94 Forfeited or cancelled (2,335,717 ) 30.38 (4,517,950 ) 29.28 Outstanding at end of period 54,682,790 $ 26.29 53,308,207 $ 28.27 Exercisable at end of period 43,875,821 $ 28.76 41,375,142 $ 29.33

NOTE 6-Securities

NOTE 6-Securities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 6-Securities	NOTE 6Securities The amortized cost, gross unrealized gains and losses, and estimated fair value of securities available for sale and securities held to maturity are as follows: September30, 2009 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In millions) Securities available for sale: U.S. Treasury securities $ 45 $ 5 $ $ 50 Federal agency securities 44 2 46 Obligations of states and political subdivisions 293 21 314 Residential mortgage-backed securities Agency 17,850 545 (7 ) 18,388 Non-Agency 1,226 6 (162 ) 1,070 Other debt securities 22 (3 ) 19 Equity securities 1,135 8 1,143 $ 20,615 $ 587 $ (172 ) $ 21,030 Securities held to maturity: U.S. Treasury securities $ 12 $ 1 $ $ 13 Federal agency securities 8 8 Residential mortgage-backed securities Agency 17 (1 ) 16 Other debt securities 2 2 $ 39 $ 1 $ (1 ) $ 39 December31, 2008 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In millions) Securities available for sale: U.S. Treasury securities $ 802 $ 84 $ $ 886 Federal agency securities 1,521 175 1,696 Obligations of states and political subdivisions 755 9 (8 ) 756 Residential mortgage-backed securities Agency 12,060 276 (3 ) 12,333 Non-Agency 1,627 6 (394 ) 1,239 Commercial mortgage-backed securities 898 1 (142 ) 757 Other debt securities 21 (2 ) 19 Equity securities 1,178 1 (15 ) 1,164 $ 18,862 $ 552 $ (564 ) $ 18,850 Securities held to maturity: U.S. Treasury securities $ 14 $ 1 $ $ 15 Federal agency securities 10 (1 ) 9 Obligations of states and political subdivisions 1 1 Residential mortgage-backed securities Agency 20 20 Other debt securities 2 2 $ 47 $ 1 $ (1 ) $ 47 Regions evaluates securities in a loss position for other-than-temporary impairment, considering such factors as the length of time and the extent to which the market value has been below cost, the credit standing of the issuer, Regions intent to hold the security and the likelihood that the Company will hold the security until its market value recovers. Activity related to the credit loss component of other-than-temporary impairment is recognized in earnings. For debt s

NOTE 7-Business Segment Informa

NOTE 7-Business Segment Information
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 7-Business Segment Information	NOTE 7Business Segment Information Regions segment information is presented based on Regions key segments of business. Each segment is a strategic business unit that serves specific needs of Regions customers. The Companys primary segment is General Banking/Treasury, which represents the Companys branch network, including consumer and commercial banking functions, and has separate management that is responsible for the operation of that business unit. This segment also includes the Companys Treasury function, including the Companys securities portfolio and other wholesale funding activities. Prior to year-end 2008, Regions had reported an Other segment that included merger charges and the parent company. Regions realigned to include the parent company with General Banking/Treasury as parent company transactions essentially support the Treasury function. The 2008 amounts presented below have been adjusted to conform to the 2009 presentation. In addition to General Banking/Treasury, Regions has designated as distinct reportable segments the activity of its Investment Banking/Brokerage/Trust and Insurance divisions. Investment Banking/Brokerage/Trust includes trust activities and all brokerage and investment activities associated with Morgan Keegan. Insurance includes all business associated with commercial insurance and credit life products sold to consumer customers. The reportable segment designated Merger Charges and Discontinued Operations includes merger charges related to the AmSouth acquisition and the results of EquiFirst (see Note 13) for the periods presented. These amounts are excluded from other reportable segments because management reviews the results of the other reportable segments excluding these items. The following tables present financial information for each reportable segment for the period indicated. (In millions) General Banking/ Treasury Investment Banking/ Brokerage/ Trust Insurance Merger Charges and Discontinued Operations Total Company Three months ended September30, 2009 Net interest income $ 830 $ 14 $ 1 $ $ 845 Provision for loan losses 1,025 1,025 Non-interest income 431 316 25 772 Non-interest expense 936 284 23 1,243 Income tax expense (292 ) 17 1 (274 ) Net income (loss) $ (408 ) $ 29 $ 2 $ $ (377 ) Average assets $ 134,828 $ 4,981 $ 496 $ $ 140,305 (In millions) General Banking/ Treasury Investment Banking/ Brokerage/ Trust Insurance Merger Charges and Discontinued Operations Total Company Three months ended September30, 2008 Net interest income $ 904 $ 17 $ 1 $ $ 922 Provision for loan losses 417 417 Non-interest income 428 266 25 719 Non-interest expense 848 234 22 42 1,146 Income tax expense (benefit) (5 ) 18 2 (16 ) (1 )

NOTE 8-Goodwill

NOTE 8-Goodwill
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 8-Goodwill	NOTE 8Goodwill Goodwill allocated to each reportable segment as of September30, 2009,December, 31, 2008, and September30, 2008 is presented as follows: (In millions) September30 2009 December31 2008 September30 2008 General Banking/Treasury $ 4,691 $ 4,691 $ 10,682 Investment Banking/Brokerage/Trust 745 740 733 Insurance 121 117 114 Balance at end of period $ 5,557 $ 5,548 $ 11,529 The Companys goodwill is tested for impairment on an annual basis, or more often if events or circumstances indicate that there may be impairment. Adverse changes in the economic environment, declining operations, or other factors could result in a decline in the implied fair value of goodwill. A goodwill impairment test includes two steps. Step One, used to identify potential impairment, compares the estimated fair value of a reporting unit with its carrying amount, including goodwill. If the estimated fair value of a reporting unit exceeds its carrying amount, goodwill of the reporting unit is considered not to be impaired. If the carrying amount of a reporting unit exceeds its estimated fair value, the second step of the goodwill impairment test is performed to measure the amount of impairment loss, if any. Step Two of the goodwill impairment test compares the implied estimated fair value of reporting unit goodwill with the carrying amount of that goodwill. In order to determine the implied estimated fair value, a full purchase price allocation is required to be performed in the same manner as if a business combination had occurred. If the carrying amount of goodwill for that reporting unit exceeds the implied fair value of that units goodwill, an impairment loss is recognized in an amount equal to that excess. During the third quarter of 2009, Regions assessed the indicators of goodwill impairment as of August31, 2009, and through the date of the filing of our Quarterly Report on Form 10-Q for the quarter ended September30, 2009. The indicators assessed included: Recent operating performance, Changes in market capitalization, Regulatory actions and assessments, Changes in the business climate (including legal factors and competition), Company-specific factors (including changes in key personnel, asset impairments, and business dispositions), and Trends in the banking industry. Based on the assessment of the indicators above, quantitative testing of goodwill was required for the General Banking/Treasury and Investment Banking/ Brokerage/Trust reporting units for the September30, 2009 interim period. The Insurance reporting unit did not require quantitative testing of goodwill as there were no significant changes or indicators that would more likely than not reduce the fair value of the reporting unit below its carrying value since the date of the last quantitative test as of June30, 2009. For purposes of performing Step One of the goodwill impairment test, Regions uses both the income and market approaches to value its reporting units. The income approach, w

NOTE 9-Loan Servicing

NOTE 9-Loan Servicing
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 9-Loan Servicing	NOTE 9Loan Servicing Effective January1, 2009, the Company made an election to prospectively change the policy for accounting for residential mortgage servicing rights from the amortization method to the fair value measurement method. Under the fair value measurement method, servicing assets are measured at fair value each period with changes in fair value recorded as a component of mortgage banking income. The fair value of mortgage servicing rights is calculated using various assumptions including future cash flows, market discount rates, expected prepayment rates, servicing costs and other factors. A significant change in prepayments of mortgages in the servicing portfolio could result in significant changes in the valuation adjustments, thus creating potential volatility in the carrying amount of mortgage servicing rights. Regions uses various derivative instruments to mitigate the effect of changes in the fair value of its mortgage servicing rights in the statement of operations. During the three months ended September30, 2009 and the first nine months of 2009, Regions recognized a net $19.1 million gain and a net $16.3 million gain, respectively, associated with changes in mortgage servicing rights and the aforementioned derivatives, which is included in mortgage income. Additionally, during the third quarter of 2009, Regions adopted an option-adjusted spread (OAS) valuation approach. The OAS represents the additional spread over the swap rate that is required in order for the assets discounted cash flows to equal its market price. This change to OAS valuation did not materially impact the fair value of the mortgage servicing rights. An analysis of the OAS and its sensitivity to rate fluctuations is presented below. The tables below present analyses of mortgage servicing rights: (In millions) ThreeMonthsEnded September30, 2009 NineMonthsEnded September30, 2009 Carrying value, beginning of period $ 202 $ 161 Additions 31 83 Increase (decrease) in fair value: Due to change in valuation inputs or assumptions (11 ) (2 ) Other changes(1) (6 ) (26 ) Carrying value, end of period $ 216 $ 216 (1) Represents economic amortization associated with borrower repayments. Data and assumptions used in the fair value calculation related to residential mortgage servicing rights (excluding related derivative instruments) as of September30, 2009 are as follows (dollars in millions): Unpaid principal balance $ 23,951 Weighted-average prepayment speed (CPR) 20.36 Estimated impact on fair value of a 10% increase $ (13 ) Estimated impact on fair value of a 20% increase $ (25 ) Option-adjusted spread (basis points) 633 Estimated impact on fair value of a 10% increase $ (4 ) Estimated impact on fair value of a 20% increase $ (8 ) Weighted-average coupon interest rate 5.81 % Weighted-average remaining maturity (months) 285 Weighted-average servicing fee (basis points) 28.8 The sensitivity calculations ab

NOTE 10-Derivative Financial In

NOTE 10-Derivative Financial Instruments and Hedging Activities
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 10-Derivative Financial Instruments and Hedging Activities	NOTE 10Derivative Financial Instruments and Hedging Activities Regions enters into derivative financial instruments to manage interest rate risk, facilitate asset/liability management strategies and manage other exposures. These derivative instruments primarily include interest rate swaps, options on interest rate swaps, interest rate caps and floors, Eurodollar futures, forward rate contracts and forward sale commitments. All derivative financial instruments are recognized on the consolidated balance sheets as other assets or other liabilities at fair value. Regions enters into master netting agreements with counterparties and/or requires collateral based on counterparty credit ratings to cover exposures. Interest rate swaps are agreements to exchange interest payments based upon notional amounts. Interest rate swaps subject Regions to market risk associated with changes in interest rates, as well as the credit risk that the counterparty will fail to perform. Option contracts involve rights to buy or sell financial instruments on a specified date or over a period at a specified price. These rights do not have to be exercised. Some option contracts such as interest rate floors, involve the exchange of cash based on changes in specified indices. Interest rate floors are contracts to hedge interest rate declines based on a notional amount. Interest rate floors subject Regions to market risk associated with changes in interest rates, as well as the credit risk that the counterparty will fail to perform. Forward rate contracts are commitments to buy or sell financial instruments at a future date at a specified price or yield. Regions primarily enters into forward rate contracts on market instruments, which expose Regions to market risk associated with changes in the value of the underlying financial instrument, as well as the credit risk that the counterparty will fail to perform. Eurodollar futures are futures contracts on Eurodollar deposits. Eurodollar futures subject Regions to market risk associated with changes in interest rates. Because futures contracts are cash settled daily, there is minimal credit risk associated with Eurodollar futures. The following table presents the fair value of derivative instruments on a gross basis as of September30, 2009: Asset Derivatives Liability Derivatives (In millions) Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest rate swaps Otherassets $ 441 Other liabilities $ Interest rate options Other assets 62 Other liabilities Eurodollar futures(1) Other assets Other liabilities Total derivatives designated as hedging instruments $ 503 $ Derivatives not designated as hedging instruments Interest rate swaps Other assets $ 1,722 Otherliabilities $ 1,678 Interest rate options Other assets 33 Other liabilities 34 Interest rate futures and forward commitments Other assets 12 Other liabilities 16 Other contracts Other as

NOTE 11-Fair Value Measurements

NOTE 11-Fair Value Measurements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 11-Fair Value Measurements	NOTE 11Fair Value Measurements Fair value guidance establishes a framework for using fair value to measure assets and liabilities and defines fair value as the price that would be received to sell an asset or paid to transfer a liability (an exit price) as opposed to the price that would be paid to acquire the asset or received to assume the liability (an entry price). A fair value measure should reflect the assumptions that market participants would use in pricing the asset or liability, including the assumptions about the risk inherent in a particular valuation technique, the effect of a restriction on the sale or use of an asset and the risk of nonperformance. Required disclosures include stratification of balance sheet amounts measured at fair value based on inputs the Company uses to derive fair value measurements. These strata include: Level 1 valuations, where the valuation is based on quoted market prices for identical assets or liabilities traded in active markets (which include exchanges and over-the-counter markets with sufficient volume), Level 2 valuations, where the valuation is based on quoted market prices for similar instruments traded in active markets, quoted prices for identical or similar instruments in markets that are not active and model-based valuation techniques for which all significant assumptions are observable in the market, and Level 3 valuations, where the valuation is generated from model-based techniques that use significant assumptions not observable in the market, but observable based on Company-specific data. These unobservable assumptions reflect the Companys own estimates for assumptions that market participants would use in pricing the asset or liability. Valuation techniques typically include option pricing models, discounted cash flow models and similar techniques, but may also include the use of market prices of assets or liabilities that are not directly comparable to the subject asset or liability. ITEMS MEASURED AT FAIR VALUE ON A RECURRING BASIS Trading account assets (net of certain short-term borrowings), securities available for sale, mortgage loans held for sale, and derivatives were recorded at fair value on a recurring basis during 2009 and 2008. Mortgage servicing rights were recorded at fair value on a recurring basis only during 2009 (see Note 9). The following tables present financial assets and liabilities measured at fair value on a recurring basis as of September30, 2009 and 2008, respectively: September30, 2009 Level1 Level 2 Level3 Fair Value (In millions) Trading account assets, net $ 321 $ 471 $ 189 $ 981 Securities available for sale 256 20,687 87 21,030 Mortgage loans held for sale 726 726 Mortgage servicing rights 216 216 Derivatives, net(1) 649 12 661 (1) Derivatives include approximately $1.1 billion related to legally enforceable master netting agreements that allow the Company to settle positive and negative positions. Derivative assets and liabilities are also presented excludi

NOTE 12-Commitments and Conting

NOTE 12-Commitments and Contingencies
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 12-Commitments and Contingencies	NOTE 12Commitments and Contingencies COMMERCIAL COMMITMENTS Regions issues off-balance sheet financial instruments in connection with lending activities. The credit risk associated with these instruments is essentially the same as that involved in extending loans to customers and is subject to Regions normal credit approval policies and procedures. Regions measures inherent risk associated with these instruments by recording a reserve for unfunded commitments based on an assessment of the likelihood that the guarantee will be funded and the creditworthiness of the customer or counterparty. Collateral is obtained based on managements assessment of the creditworthiness of the customer. Credit risk associated with these instruments is represented by the contractual amounts indicated in the following table: (In millions) September30 2009 December31 2008 September30 2008 Unused commitments to extend credit $ 31,993 $ 37,271 $ 39,203 Standby letters of credit 5,859 8,012 8,048 Commercial letters of credit 14 20 27 Unused commitments to extend creditTo accommodate the financial needs of its customers, Regions makes commitments under various terms to lend funds to consumers, businesses and other entities. These commitments include (among others) revolving credit agreements, term loan commitments and short-term borrowing agreements. Many of these loan commitments have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of these commitments are expected to expire without being funded, the total commitment amounts do not necessarily represent future liquidity requirements. However, the current lack of liquidity in the broader market and the current credit environment has resulted in increased fundings of commitments to extend credit. Standby letters of creditStandby letters of credit are also issued to customers, which commit Regions to make payments on behalf of customers if certain specified future events occur. Regions has recourse against the customer for any amount required to be paid to a third party under a standby letter of credit. Historically, a large percentage of standby letters of credit expired without being funded. The current lack of liquidity in the broader market and the current credit environment has resulted in increased fundings of standby letters of credit. The contractual amount of standby letters of credit represents the maximum potential amount of future payments Regions could be required to make and represents Regions maximum credit risk. At September30, 2009,December31, 2008 and September30, 2008, Regions had $88 million, $118 million and $111 million, respectively, of liabilities associated with standby letter of credit agreements, with related assets of $82 million, $108 million and $98 million, respectively. Commercial letters of creditCommercial letters of credit are issued to facilitate foreign or domestic trade transactions for customers. As a general rule, drafts will be drawn when the goods underlying the transaction are in transit. The reserve for all of these off-balance sheet finan

NOTE 13-Discontinued Operations

NOTE 13-Discontinued Operations
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 13-Discontinued Operations	NOTE 13Discontinued Operations On March30, 2007, Regions sold EquiFirst Corporation (EquiFirst), a wholly-owned non-conforming mortgage origination subsidiary, for approximately $76 million and recorded an after-tax gain of approximately $1 million. Consequently, the business related to EquiFirst has been accounted for as discontinued operations and the results are presented separately on the consolidated statements of income following the results from continuing operations. In the third quarter of 2008, an adjustment was recorded based on the anticipated final sales price. Resolution of the sales price was completed in October 2008, and was not materially different from the estimated final sales price. The results from discontinued operations did not impact the three-month or nine-month periods ending September30, 2009. The results from discontinued operations for the three-month and nine-month periods ending September30, 2008 are as follows: (In millions) 2008 Total non-interest expense $ 18 Loss from discontinued operations before income taxes (18 ) Income tax benefit (7 ) Loss from discontinued operations, net of tax $ (11 )

NOTE 14-Recent Accounting Prono

NOTE 14-Recent Accounting Pronouncements
	9 Months Ended Sep. 30, 2009 USD / shares
Notes to Financial Statements [Abstract]
NOTE 14-Recent Accounting Pronouncements	NOTE 14Recent Accounting Pronouncements In September 2006, the Financial Accounting Standards Board (FASB) issued Statement of Financial Accounting Standards No.157 Fair Value Measurements, codified in the Fair Value Measurements and Disclosures Topic (Fair Value Topic) of the FASB Accounting Standards Codification (ASC), which provides guidance for using fair value to measure assets and liabilities, but does not expand the use of fair value in any circumstance. The guidance also requires expanded disclosures about the extent to which a company measures assets and liabilities at fair value, the information used to measure fair value, and the effect of fair value measurements on an entitys financial statements. The provisions apply when other guidance requires or permits assets and liabilities to be measured at fair value. The Fair Value Topic is effective for financial statements issued for fiscal years beginning after November15, 2007, and interim periods within those fiscal years, with early adoption permitted. Regions adopted the provisions on January1, 2008, and the effect of adoption on the consolidated financial statements was not material. Additionally, in February 2008, the FASB issued FSP 157-2, Effective Date of FASB Statement No.157, also codified in the Fair Value Topic, which delays the effective date for non-recurring, non-financial instruments to fiscal years beginning after November15, 2008. Regions implemented these provisions as of January1, 2009. Refer to Note 11, Fair Value Measurements for additional information about the impact of the adoption of the Fair Value Topic. In December 2007, the FASB issued Statement of Financial Accounting Standards No.141 (revised 2007), Business Combinations, codified in the Business Combinations Topic of the ASC. The guidance requires the acquiring entity in a business combination to recognize all (and only) the assets acquired and liabilities assumed in the transaction; establishes the acquisition-date fair value as the measurement objective for all assets acquired and liabilities assumed; and requires the acquirer to disclose to investors and other users all of the information needed to evaluate and understand the nature and financial effect of the business combination. The provisions are effective for fiscal years beginning after December15, 2008. Regions adopted these provisions as of January1, 2009, and the adoption did not have a material impact on Regions consolidated financial statements. However, the adoption of these provisions could have a material impact to the consolidated financial statements for prospective business combinations. In December 2007, the FASB issued Statement of Financial Accounting Standards No.160, Noncontrolling Interests in Consolidated Financial Statements, codified in the Consolidation Topic of the ASC, which requires all entities to report noncontrolling (minority) interests in subsidiaries as equity in the consolidated financial statements. Additionally, the provisions require that transactions between an entity and noncontrolling interests be treated as equity transactions. The provisions are effective for fiscal years beginning after December

Document Information

Document Information
	9 Months Ended Sep. 30, 2009 USD / shares
Document Information [Text Block]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	2009-09-30

Entity Information

Entity Information (USD $)
	9 Months Ended Sep. 30, 2009	Oct. 31, 2009
Entity [Text Block]
Trading Symbol	RF
Entity Registrant Name	REGIONS FINANCIAL CORP
Entity Central Index Key	0001281761
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,188,032,000