Regions Financial (RF) 10-K 22 Feb 10 2009 FY Annual report Financial data

Statement Of Financial Position

Statement Of Financial Position Unclassified - Deposit Based Operations (USD $)
In Millions	Dec. 31, 2009	Dec. 31, 2008
Assets
Cash and due from banks	$2,052	$2,643
Interest-bearing deposits in other banks	5,580	7,540
Federal funds sold and securities purchased under agreements to resell	379	790
Trading account assets	3,039	1,050
Securities available for sale	24,069	18,850
Securities held to maturity (estimated fair value of $31 in 2009 and $47 in 2008)	31	47
Loans held for sale (includes $780 and $506 measured at fair value at December 31, 2009 and 2008, respectively)	1,511	1,282
Loans, net of unearned income	90,674	97,419
Allowance for loan losses	(3,114)	(1,826)
Net loans	87,560	95,593
Other interest-earning assets	734	897
Premises and equipment, net	2,668	2,786
Interest receivable	468	458
Goodwill	5,557	5,548
Mortgage servicing rights	247	161
Other identifiable intangible assets	503	638
Other assets	7,920	7,965
Total assets	142,318	146,248
Deposits:
Non-interest-bearing	23,204	18,457
Interest-bearing	75,476	72,447
Total deposits	98,680	90,904
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase	1,893	3,143
Other short-term borrowings	1,775	12,679
Total short-term borrowings	3,668	15,822
Long-term borrowings	18,464	19,231
Total borrowed funds	22,132	35,053
Other liabilities	3,625	3,478
Total liabilities	124,437	129,435
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	3,343	3,307
Series B, mandatorily convertible, cumulative perpetual participating, par value $1,000.00 (liquidation preference $1,000.00) per share; Issued-267,665 shares	259	0
Common stock, par value $.01 per share: Authorized 1.5 billion shares Issued including treasury stock-1,235,850,589 shares in 2009 and 735,667,650 shares in 2008	12	7
Additional paid-in capital	18,781	16,815
Retained earnings (deficit)	(3,235)	(1,869)
Treasury stock, at cost-43,241,020 shares in 2009 and 44,301,693 shares in 2008	(1,409)	(1,425)
Accumulated other comprehensive income (loss), net	130	(22)
Total stockholders' equity	17,881	16,813
Total liabilities and stockholders' equity	$142,318	$146,248

1_Statement Of Financial Positi

Statement Of Financial Position Unclassified - Deposit Based Operations (Parenthetical) (USD $)
In Millions, except Share data	Dec. 31, 2009	Dec. 31, 2008
Securities held to maturity, fair value	$31	$47
Loans held for sale, at fair value	$780	$506
Preferred stock, authorized	10,000,000	10,000,000
Common stock, par value	0.01	0.01
Common stock, Authorized	1,500,000,000	1,500,000,000
Common stock, Issued including treasury stock	1,235,850,589	735,667,650
Treasury stock, shares	43,241,020	44,301,693
Series A cumulative perpetual participating Preferred stock
Preferred Stock, par value	$1	$1
Preferred Stock, Liquidation preference	$10	$10
Preferred Stock, Issued	3,500,000	3,500,000
Series B, mandatorily convertible, cumulative perpetual participating Preferred Stock
Preferred Stock, par value	$10	$0
Preferred Stock, Liquidation preference	$10	$0
Preferred Stock, Issued	267,665	0

Statement Of Income Interest Ba

Statement Of Income Interest Based Revenue (USD $)
In Millions, except Per Share data	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Interest income on:
Loans, including fees	$4,199		$5,550		$6,925
Securities:
Taxable	966		828		856
Tax-exempt	19		40		41
Total securities	985		868		897
Loans held for sale	55		35		92
Federal funds sold and securities purchased under agreements to resell	3		18		51
Trading account assets	62		63		71
Other interest-earning assets	28		29		38
Total interest income	5,332		6,563		8,074
Interest expense on:
Deposits	1,277		1,724		2,664
Short-term borrowings	54		369		459
Long-term borrowings	666		627		553
Total interest expense	1,997		2,720		3,676
Net interest income	3,335		3,843		4,398
Provision for loan losses	3,541		2,057		555
Net interest income (loss) after provision for loan losses	(206)		1,786		3,843
Non-interest income:
Service charges on deposit accounts	1,156		1,148		1,163
Brokerage, investment banking and capital markets	989		1,027		895
Mortgage income	259		138		136
Trust department income	191		234		251
Securities gains (losses), net	69		92		(9)
Other	1,091		434		420
Total non-interest income	3,755		3,073		2,856
Non-interest expense:
Salaries and employee benefits	2,269		2,356		2,472
Net occupancy expense	454		442		414
Furniture and equipment expense	311		335		301
Other-than-temporary impairments	75	[1]	23	[1]	7	[1]
Goodwill impairment	0		6,000		0
Other	1,642		1,636		1,466
Total non-interest expense	4,751		10,792		4,660
Income (loss) from continuing operations before income taxes	(1,202)		(5,933)		2,039
Income tax (benefit) expense	(171)		(348)		646
Income (loss) from continuing operations	(1,031)		(5,585)		1,393
Discontinued operations (Note 3):
Loss from discontinued operations before income taxes	0		(18)		(217)
Income tax benefit	0		(7)		(75)
Loss from discontinued operations, net of tax	0		(11)		(142)
Net income (loss)	(1,031)		(5,596)		1,251
Net income (loss) from continuing operations available to common shareholders	(1,261)		(5,611)		1,393
Net income (loss) available to common shareholders	($1,261)		($5,622)		$1,251
Weighted-average number of common shares outstanding:
Basic	989		695		708
Diluted	989		695		713
Earnings (loss) per common share from continuing operations:
Basic	-1.27		-8.07		1.97
Diluted	-1.27		-8.07		1.95
Earnings (loss) per common share:
Basic	-1.27		-8.09		1.77
Diluted	-1.27		-8.09		1.76
Cash dividends declared per common share	0.13		0.96		1.46
[1]Includes $266 million for the year ended December 31, 2009 of gross charges, net of $191 million of non-credit portion reported in other comprehensive income (loss). For 2008 and 2007, there was no non-credit component. See Note 4 to the consolidated financial statements.

2_Statement Of Income Interest

Statement Of Income Interest Based Revenue (Parenthetical) (USD $)
In Millions	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Other-than-temporary impairments, gross charges	$266	$0	$0
Other-than-temporary impairments, non-credit portion reported in other comprehensive income (loss)	$191	$0	$0

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Millions	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Treasury Stock, At Cost	Accumulated Other Comprehensive Income (Loss)		Total
BEGINNING BALANCE at Dec. 31, 2006	$0	$7	$16,340	$4,493	($8)	($131)		$20,701
BEGINNING BALANCE (in shares) at Dec. 31, 2006	0	730
Cumulative effect of change in accounting principles due to adoption of new accounting literature				(269)				(269)
Comprehensive income (loss):
Net income (loss)				1,251				1,251
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment						166	[1]	166	[1]
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment						96	[1]	96	[1]
Net change from defined benefit pension plans, net of tax						72	[1]	72	[1]
Cash dividends declared - $0.13 in 2009, $0.96 in 2008, and $1.46 in 2007 per share				(1,036)				(1,036)
Purchase of treasury stock (in shares)		(41)
Purchase of treasury stock					(1,363)			(1,363)
Common stock transactions:
Stock transactions with employees under compensation plans, net (in shares)		1
Stock transactions with employees under compensation plans, net			(17)					(17)
Stock options exercised and related activity, net (in shares)		4
Stock options exercised and related activity, net			155					155
Amortization of unearned restricted stock			67					67
ENDING BALANCE (in shares) at Dec. 31, 2007	0	694
ENDING BALANCE at Dec. 31, 2007	0	7	16,545	4,439	(1,371)	203		19,823
Cumulative effect of change in accounting principles due to adoption of new accounting literature				(17)				(17)
Comprehensive income (loss):
Net income (loss)				(5,596)				(5,596)
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment						(101)	[1]	(101)	[1]
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment						190	[1]	190	[1]
Net change from defined benefit pension plans, net of tax						(314)	[1]	(314)	[1]
Cash dividends declared - $0.13 in 2009, $0.96 in 2008, and $1.46 in 2007 per share				(669)				(669)
Preferred dividends				(26)				(26)
Preferred stock transactions:
Proceeds from issuance of 3,500,000 shares of preferred stock (in shares)	4
Proceeds from issuance of 3,500,000 shares of preferred stock	3,304							3,304
Proceeds from issuance of 48,253,677 common stock warrant			196					196
Discount accretion	3							3
Common stock transactions:
Stock transactions with employees under compensation plans, net (in shares)		(3)
Stock transactions with employees under compensation plans, net			(3)		(54)			(57)
Stock options exercised and related activity, net			27					27
Amortization of unearned restricted stock			50					50
ENDING BALANCE (in shares) at Dec. 31, 2008	4	691
ENDING BALANCE at Dec. 31, 2008	3,307	7	16,815	(1,869)	(1,425)	(22)		16,813
Comprehensive income (loss):
Net income (loss)				(1,031)				(1,031)
Net change in unrealized gains and losses on securities available for sale, net of tax and reclassification adjustment						277		277
Net change in unrealized gains and losses on derivative instruments, net of tax and reclassification adjustment						(133)	[1]	(133)	[1]
Net change from defined benefit pension plans, net of tax						8	[1]	8	[1]
Cash dividends declared - $0.13 in 2009, $0.96 in 2008, and $1.46 in 2007 per share				(105)				(105)
Preferred dividends				(194)				(194)
Preferred stock transactions:
Proceeds from issuance of 287,500 shares of mandadatority convertible preferred stock	278							278
Discount accretion	36			(36)				0
Conversion of Series B shares	(19)							(19)
Common stock transactions:
Net proceeds from issuance of 460 million shares of common stock (in shares)		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 (in shares)		33
Issuance of 33 million shares of common stock issued in connection with early extinguishment of debt			135					135
Conversion of Series B shares (in shares)		5
Conversion of Series B shares			19					19
Stock transactions with employees under compensation plans, net (in shares)		4
Stock transactions with employees under compensation plans, net					16			16
Stock options exercised and related activity, net			14					14
Amortization of unearned restricted stock			34					34
ENDING BALANCE (in shares) at Dec. 31, 2009	4	1,193
ENDING BALANCE at Dec. 31, 2009	$3,602	$12	$18,781	($3,235)	($1,409)	$130		$17,881
[1]See disclosure of reclassification adjustment amount and tax effect, as applicable, in Note 15 to consolidated financial statements.

3_Statement Of Shareholders Equ

Statement Of Shareholders Equity And Other Comprehensive Income (Parenthetical) (USD $)
	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008
Cash dividends declared, per share	0.13	0.96
Proceeds from issuance of preferred stock, shares		3,500,000
Proceeds from issuance of shares of mandadatority convertible preferred stock, shares	287,500
Proceeds from issuance of common stock warrant, shares		48,253,677

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect Deposit Based Operations (USD $)
In Millions	12 Months Ended Dec. 31, 2009		12 Months Ended Dec. 31, 2008		12 Months Ended Dec. 31, 2007
Operating activities:
Net income (loss)	($1,031)		($5,596)		$1,251
Adjustments to reconcile net cash provided by operating activities:
Provision for loan losses	3,541		2,057		555
Impairment of goodwill	0		6,000		0
Depreciation and amortization of premises and equipment	284		286		264
Impairment of mortgage servicing rights	0		85		6
Provision for losses on other real estate, net	142		88		10
Net amortization (accretion) of securities	10		(15)		(26)
Net amortization of loans and other assets	252		122		259
Net accretion of deposits and borrowings	(19)		(15)		(58)
Net securities (gains) losses	(69)		(92)		9
Net loss (gain) on sale of premises and equipment	0		3		(33)
(Gain) loss on early extinguishment of debt	(61)		66		0
Other-than-temporary impairments, net	75	[1]	23	[1]	7	[1]
Deferred income tax expense (benefit)	245		(407)		(124)
Excess tax benefits from share-based payments	(4)		0		(8)
Originations and purchases of loans held for sale	(7,409)		(3,079)		(5,531)
Proceeds from sales of loans held for sale	7,650		3,849		8,887
Gain on sale of loans, net	(96)		(57)		(66)
Loss from sale of mortgage servicing rights	0		15		4
(Increase) decrease in trading account assets	(1,989)		88		439
Decrease (increase) in other interest-earning assets	163		(392)		65
(Increase) decrease in interest receivable	(10)		158		45
Decrease (increase) in other assets	462		(584)		(2,900)
(Decrease) increase in other liabilities	(90)		(764)		190
Other	(52)		168		42
Net cash from operating activities	1,994		2,007		3,287
Investing activities:
Proceeds from sales of securities available for sale	5,451		2,142		1,964
Proceeds from maturites of:
Securities available for sale	5,405		3,181		2,496
Securities held to maturity	17		9		14
Purchases of:
Securities available for sale	(15,646)		(6,848)		(2,237)
Securities held to maturity	0		(5)		(41)
Proceeds from sales of loans	330		1,247		1,050
Proceeds from sales of mortgage servicing rights	0		44		21
Net decrease (increase) in loans	2,783		(6,433)		(1,496)
Net purchases of premises and equipment	(234)		(464)		(454)
Net cash received from disposition of business	0		0		6
Net cash received from deposits assumed	279		894		0
Net cash from investing activities	(1,615)		(6,233)		1,323
Financing activities:
Net increase (decrease) in deposits	7,501		(4,757)		(6,423)
Net (decrease) increase in short-term borrowings	(12,154)		4,702		1,453
Proceeds from long-term borrowings	2,792		11,606		6,934
Payments on long-term borrowings	(3,246)		(3,955)		(4,223)
Net proceeds from issuance of mandatorily convertible preferred stock	278		0		0
Net proceeds from issuance of common stock	1,769		0		0
Issuance of preferred stock and common stock warrant	0		3,500		0
Cash dividends on common stock	(105)		(669)		(1,036)
Cash dividends on preferred stock	(194)		0		0
Purchase of treasury stock	0		0		(1,363)
Proceeds from exercise of stock options and related activity	14		27		155
Excess tax benefits from share-based payments	4		0		8
Net cash from financing activities	(3,341)		10,454		(4,495)
Decrease in cash and cash equivalents	(2,962)		6,228		115
Cash and cash equivalents at beginning of year	10,973		4,745		4,630
Cash and cash equivalents at end of period	$8,011		$10,973		$4,745
[1]Includes $266 million for the year ended December 31, 2009 of gross charges, net of $191 million of non-credit portion reported in other comprehensive income (loss). For 2008 and 2007, there was no non-credit component. See Note 4 to the consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	12 Months Ended Dec. 31, 2009 USD / shares
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 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 accompanying consolidated financial statements conform with accounting principles generally accepted in the United States (GAAP) and with general financial services industry practices. In preparing the financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the balance sheet dates and revenues and expenses for the periods shown. Actual results could differ from the estimates and assumptions used in the consolidated financial statements including, but not limited to, the estimates and assumptions related to the allowance for credit losses, intangibles, mortgage servicing rights and income taxes. Regions has evaluated all subsequent events for potential recognition and disclosure through February22, 2010, the date of the filing of this Form 10-K. Certain amounts in prior period financial statements have been reclassified to conform to current period presentation, except as otherwise noted. These reclassifications are immaterial and have no effect on net income (loss), total assets or stockholders equity. BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The consolidated financial statements include the accounts of Regions, its subsidiaries and certain variable interest entities (VIEs). Significant intercompany balances and transactions have been eliminated. Regions considers a voting rights entity to be a subsidiary and consolidates it if Regions has a controlling financial interest in the entity. VIEs are consolidated if Regions is exposed to the majority of the VIEs expected losses and/or residual returns (i.e., Regions is considered to be the primary beneficiary). Unconsolidated investments in voting rights entities or VIEs in which Regions has significant influence over operating and financing decisions (usually defined as a voting or economic interest of 20% to 50%) are accounted for using the equity method. Unconsolidated investments in voting rights entities or VIEs in which Regions has a voting or economic interest of less than 20% are generally carried at cost. See Note 2 for further discussion of VIEs. CASH AND CASH FLOWS Cash equivalents include cash and due from banks, interest-bearing deposits in other banks, and federal funds sold and securities purchased under agreements to resell (which have a life of 90 days or less). Cash flows from loans, either originated or acquired

VARIABLE INTEREST ENTITIES

VARIABLE INTEREST ENTITIES
	12 Months Ended Dec. 31, 2009 USD / shares
VARIABLE INTEREST ENTITIES	NOTE 2. VARIABLE INTEREST ENTITIES Regions is involved in various entities that are considered to be VIEs, as defined by authoritative accounting literature. Generally, a VIE is a corporation, partnership, trust or other legal structure that either does not have equity investors with substantive voting rights or has equity investors that do not provide sufficient financial resources for the entity to support its activities. The following discusses the VIEs in which Regions has a significant interest. Regions owns the common stock of subsidiary business trusts, which have issued mandatorily redeemable preferred capital securities (trust preferred securities) in the aggregate of approximately $1 billion at the time of issuance. These trusts meet the definition of a VIE of which Regions is not the primary beneficiary; the trusts only assets are junior subordinated debentures issued by Regions, which were acquired by the trusts using the proceeds from the issuance of the trust preferred securities and common stock. The junior subordinated debentures are included in long-term borrowings and Regions equity interests in the business trusts are included in other assets. Interest expense on the junior subordinated debentures is reported in interest expense on long-term borrowings. For regulatory reporting and capital adequacy purposes, the Federal Reserve Board has indicated that such trust preferred securities will continue to constitute Tier 1 Capital until further notice. Regions periodically invests in various limited partnerships that sponsor affordable housing projects, which are funded through a combination of debt and equity. These partnerships meet the definition of a VIE. Due to the nature of the management activities of the general partner, Regions is not the primary beneficiary of these partnerships and accounts for these investments using the equity method. Regions equity method investments as of December31, 2009 and 2008 were $827 million and $710 million, respectively, which are included in other assets. Regions reports its equity share of the partnership gains and losses as an adjustment to non-interest income. The Company also receives credits toward its federal income tax liabilities, which are reported as a reduction of income tax expense (or increase to income tax benefit) and a reduction of federal income taxes payable. Unfunded commitments to the partnerships included in other liabilities were $258 million and $298 million as of December31, 2009 and 2008, respectively. Additionally, Regions has short-term construction loans or letters of credit commitments with certain of the partnerships totaling $324 million and $188 million as of December31, 2009 and 2008, respectively. The funded portion of these loans and letters of credit was $150 million and $115 million at December31, 2009 and 2008, respectively. The funded portion is classified as commercial and industrial loans on the consolidated balance sheets.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS
	12 Months Ended Dec. 31, 2009 USD / shares
DISCONTINUED OPERATIONS	NOTE 3. DISCONTINUED OPERATIONS On March30, 2007, Regions sold EquiFirst Corporation (EquiFirst), a wholly owned non-conforming mortgage origination subsidiary. Consequently, the business related to EquiFirst has been accounted for as discontinued operations and the results are presented separately on the consolidated statements of operations for all periods presented. Resolution of the sales price was completed in October 2008, resulting in an after-tax loss of approximately $10 million. Prior to the sale of EquiFirst and excluding the loss on the sale, Regions recorded, during 2007, approximately $142 million in after-tax losses related to the operations of EquiFirst. The primary factor in the recognition of these losses was the significant and rapid deterioration of the sub-prime market during the first three months of 2007. The results from discontinued operations did not impact the year ending December31, 2009. The results from discontinued operations for the years ending December31, 2008, and 2007 are as follows: 2008 2007 (In millions) Net interest income $ $ 12 Provision for loan losses Net interest income after provision for loan losses 12 Total non-interest income, excluding gain on sale of discontinued operations (189 ) Total non-interest expense 18 52 Loss from discontinued operations before income taxes (18 ) (229 ) Gain on sale of discontinued operations before income taxes 12 Loss from discontinued operations before income taxes (18 ) (217 ) Income tax benefit (7 ) (75 ) Loss from discontinued operations, net of tax $ (11 ) $ (142 )

SECURITIES

SECURITIES
	12 Months Ended Dec. 31, 2009 USD / shares
SECURITIES	NOTE 4. SECURITIES The amortized cost and estimated fair value of securities available for sale and securities held to maturity at December31 are as follows: December31, 2009 Cost Gross Unrealized Gains Gross Unrealized Losses Estimated Fair Value (In millions) Securities available for sale: U.S. Treasury securities $ 46 $ 4 $ $ 50 Federal agency securities 44 1 45 Obligations of states and political subdivisions 70 70 Mortgage-backed securities: Residential agency 22,271 474 (61 ) 22,684 Residential non-agency 33 3 36 Commercial agency 20 1 21 Other debt securities 22 (3 ) 19 Equity securities 1,132 12 1,144 $ 23,638 $ 495 $ (64 ) $ 24,069 Securities held to maturity: U.S. Treasury securities $ 7 $ $ $ 7 Federal agency securities 6 6 Mortgage-backed securities: Residential agency 16 16 Other debt securities 2 2 $ 31 $ $ $ 31 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 Mortgage-backed securities: Residential agency 12,060 276 (3 ) 12,333 Residential non-agency 1,627 6 (394 ) 1,239 Commercial 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 Mortgage-backed securities: Residential 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 sell and whether it is more likely than not that the Company will have to sell the security before its market value recovers. Activity related to the credit loss component of other-than-temporary impairment is recognized in earning

LOANS

LOANS
	12 Months Ended Dec. 31, 2009 USD / shares
LOANS	NOTE 5. LOANS The loan portfolio at December31 consisted of the following: 2009 2008 (In millions) Commercial and industrial $ 21,547 $ 23,596 Commercial real estate mortgageowner-occupied 12,054 11,722 Commercial real estate constructionowner-occupied 751 1,605 Total commercial 34,352 36,923 Commercial investor real estate mortgage 16,109 14,486 Commercial investor real estate construction 5,591 9,029 Total investor real estate 21,700 23,515 Residential first mortgage 15,632 15,839 Home equity 15,381 16,130 Indirect 2,452 3,854 Other consumer 1,157 1,158 Total consumer 34,622 36,981 $ 90,674 $ 97,419 The loan portfolio is diversified geographically, primarily within Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. Beginning in 2008 and continuing into 2009, Regions considered its residential homebuilder, home equity loans secured by second liens in Florida and condominium portfolios as concentrations due to the recent pressures from economic downturns and real estate market deterioration. The residential homebuilder portfolio was approximately $2.9 billion and $4.4 billion, respectively at December31, 2009 and 2008, and represented extensions of credit to real estate developers where repayment is dependent on the sale of real estate. The majority of these loans are reported in the commercial investor real estate construction category while a smaller portion is reported as commercial investor real estate mortgage. The portion of the home equity portfolio where the collateral is comprised of second liens in Florida, was $3.5 billion and $3.7 billion at December31, 2009 and 2008, respectively. The condominium portfolio was $0.6 billion and $0.9 billion at December31, 2009 and 2008, respectively. Beginning in the second quarter and continuing through year-end 2009, income-producing investor real estate, including multi-family and retail, also showed signs of credit pressure. Multi-family and retail totaled $9.2 billion at December31, 2009 compared to $8.8 billion at December31, 2008. Unearned income totaled $1.1 billion and $2.1 billion at December31, 2009 and 2008, respectively. Included in loans, net of unearned income at December31, 2009 and 2008, were $50 million and $107 million, respectively, of net deferred loan costs. Unamortized net discounts on loans net of unearned income totaled $18 million and $26 million at December31, 2009 and 2008, respectively. Included in commercial and industrial loans were $1.3 billion and $2.4 billion of rentals receivable and $1.1 billion and $2.2 billion of unearned income on leveraged leases at December31, 2009 and 2008, respectively. Also, estimated residuals on leveraged leases were $339 million and $481 million at December31, 2009 and 2008, respectively. Pre-tax income from leveraged leases for the years ending Decemb

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES
	12 Months Ended Dec. 31, 2009 USD / shares
ALLOWANCE FOR CREDIT LOSSES	NOTE 6. ALLOWANCE FOR CREDIT LOSSES The allowance for credit losses consists of the allowance for loan losses, which is presented on the consolidated balance sheets as a contra-asset to loans, and the reserve for unfunded credit commitments, which is included in other liabilities in the consolidated balance sheets. An analysis of the allowance for credit losses for the years ended December31 follows: 2009 2008 2007 (In millions) Allowance for loan losses: Balance at beginning of year $ 1,826 $ 1,321 $ 1,056 Allowance allocated to sold loans and loans transferred to loans held for sale (5 ) (19 ) Provision for loan losses 3,541 2,057 555 Loan losses: Charge-offs (2,369 ) (1,639 ) (368 ) Recoveries 116 92 97 Net loan losses (2,253 ) (1,547 ) (271 ) Balance at end of year $ 3,114 $ 1,826 $ 1,321 Reserve for unfunded credit commitments: Balance at beginning of year 74 58 52 Provision for unfunded credit commitments 16 6 Balance at end of year $ 74 $ 74 $ 58 Total allowance for credit losses $ 3,188 $ 1,900 $ 1,379

TRANSFERS AND SERVICING OF FINA

TRANSFERS AND SERVICING OF FINANCIAL ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
TRANSFERS AND SERVICING OF FINANCIAL ASSETS	NOTE 7. TRANSFERS AND SERVICING OF FINANCIAL ASSETS SECURITIZATIONS Prior to the third quarter of 2008, Regions sold commercial loans to third-party multi-issuer conduits, of which Regions retained servicing responsibilities. During 2008, Regions discontinued the sale and securitization of commercial loans to conduits. As part of the sale and securitization of commercial loans to conduits, Regions provided credit enhancements to the conduits in the form of letters of credit; there were none outstanding at either December31, 2009 or 2008. Regions also provided liquidity lines of credit to support the issuance of commercial paper under 364-day loan commitments.These liquidity lines could be drawn upon in the event of a commercial paper market disruption or other factors, which could prevent the asset-backed commercial paper issuers from being able to issue commercial paper. Regions had no liquidity lines of credit supporting these conduit transactions at either December31, 2009 or 2008. No gains or losses were recognized on commercial loans sold to third-party conduits nor was any retained interest recorded due to the relatively short life of the commercial loans sold into the conduits. During 2009, Regions exercised clean-up calls on a residential mortgage loan securitizations. As of December31, 2009, $42 million of loans related to clean-up calls are recorded in residential first mortgage loans on the balance sheet. An immaterial amount of securitized loans related to residential mortgage loan securitizations remains at December31, 2009. The following table summarizes amounts recognized in the consolidated financial statements related to securitization transactions for the years ended December31: 2009 2008 2007 (In millions) Proceeds from securitizations $ $ 42 $ 423 Net gains 2 Servicing fees received 1 3 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 (see Note 1). 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 and trading securities to mitigate the effect of changes in the fair value of its mortgage servicing rights in the statement of operations. During the year ended December31, 2009, Regions recognized a net $37 million gain associated with changes in mortgage servicing rights and the aforementioned derivatives and securities. The net gain is included in several line items in the statement of operations; $20 million is included in interest income, $13 million is included in mortgage income and $4 million is included in brokerage, investment bankin

PREMISES AND EQUIPMENT

PREMISES AND EQUIPMENT
	12 Months Ended Dec. 31, 2009 USD / shares
PREMISES AND EQUIPMENT	NOTE 8. PREMISES AND EQUIPMENT A summary of premises and equipment at December31 is as follows: 2009 2008 (In millions) Land and land improvements $ 500 $ 519 Premises 1,696 1,619 Furniture and equipment 1,143 1,146 Software 180 151 Leasehold improvements 373 317 Construction in progress 188 327 4,080 4,079 Accumulated depreciation and amortization (1,412 ) (1,293 ) $ 2,668 $ 2,786

INTANGIBLE ASSETS

INTANGIBLE ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
INTANGIBLE ASSETS	NOTE 9. INTANGIBLE ASSETS GOODWILL Goodwill allocated to each reportable segment as of December31 is presented as follows: 2009 2008 (Inmillions) General Banking/Treasury $ 4,691 $ 4,691 Investment Banking/Brokerage/Trust 745 740 Insurance 121 117 Balance at end of year $ 5,557 $ 5,548 A summary of goodwill activity at December31 is presented as follows: 2009 2008 (In millions) Balance at beginning of year $ 5,548 $ 11,491 Acquisitions of other businesses 9 38 Impairment (6,000 ) Tax adjustments 19 Balance at end of year $ 5,557 $ 5,548 As stated in Note 1, Regions evaluates each reporting units goodwill for impairment on an annual basis in the fourth quarter, or more often if events or circumstances indicate that there may be impairment. Due to the deteriorating economic environment in 2008 and 2009, Regions performed interim impairment tests during the second and third quarters of 2008 and then again in the second and third quarters of 2009 in addition to the 2008 and 2009 annual tests. The results of these interim tests indicated that goodwill was not impaired as of these test dates. In the fourth quarter of 2008, Regions performed the Step One analysis for all three reporting units. Regions annual test indicated potential impairment for the General Banking/Treasury reporting unit. Therefore, Step Two was performed and resulted in the Company recording a goodwill impairment charge of $6.0 billion in the General Banking/Treasury reporting unit. The primary cause of the goodwill impairment in the General Banking/Treasury reporting unit was the continued and significant decline in the estimated fair value of the unit. This was evidenced by rapid deterioration in credit costs, continued compression of the net interest margin, costs of the preferred stock issuance to the U.S. Treasury and continued declines in the Companys overall market capitalization during the fourth quarter of 2008. The Step One analysis did not indicate that goodwill was impaired for the Investment Banking/Brokerage/Trust and Insurance reporting units as of December31, 2008. The $6.0 billion impairment charge discussed above was Regions first recorded goodwill impairment. There has been no impairment recorded subsequent to this time. Accordingly, the cumulative impairment at December31, 2008 and 2009 was $6.0 billion. In the fourth quarter of 2009, Regions performed the Step One analysis for all three reporting units. This annual test indicated potential impairment for the General Banking/Treasury reporting unit. Based on the results of the Step Two analysis performed, Regions concluded the General Banking/Treasury reporting units goodwill was not impaired. The Step One analysis did not indicate that goodwill was impaired for the Investment Banking/Brokerage/Trust and Insurance reporting units as of December31, 2009. The valuation methodologies of certain material financial assets and liabilities are discussed in Note 22, Fair Value o

FORECLOSED PROPERTIES

FORECLOSED PROPERTIES
	12 Months Ended Dec. 31, 2009 USD / shares
FORECLOSED PROPERTIES	NOTE 10. FORECLOSED PROPERTIES Other real estate and certain other assets acquired in foreclosure are carried at the lower of the recorded investment in the loan or fair value less estimated costs to sell the property. An analysis of foreclosed properties for the years ended December31 follows: 2009 2008 (In millions) Balance at beginning of year $ 243 $ 121 Transfer from loans 890 414 Foreclosed property sold (361 ) (234 ) Writedowns and partial liquidations (165 ) (58 ) 364 122 Balance at end of year $ 607 $ 243

DEPOSITS

DEPOSITS
	12 Months Ended Dec. 31, 2009 USD / shares
DEPOSITS	NOTE 11. DEPOSITS The following schedule presents a detail of interest-bearing deposits at December31: 2009 2008 (In millions) Savings accounts $ 4,073 $ 3,663 Interest-bearing transaction accounts 15,791 15,022 Money market accounts 23,291 19,471 Money market accountsforeign 766 1,812 Time deposits 31,468 32,369 Customer deposits 75,389 72,337 Treasury time deposits 87 110 $ 75,476 $ 72,447 The aggregate amount of time deposits of $100,000 or more, including certificates of deposit of $100,000 or more, was $12.6 billion and $12.7 billion at December31, 2009 and 2008, respectively. The aggregate amount of maturities of all time deposits (deposits with stated maturities, consisting primarily of certificates of deposit and IRAs) in each of the next five years is as follows: 2010$19.0 billion; 2011$7.5 billion; 2012$2.3 billion; 2013$2.6 billion; 2014$110 million; and thereafter$36 million.

SHORT-TERM BORROWINGS

SHORT-TERM BORROWINGS
	12 Months Ended Dec. 31, 2009 USD / shares
SHORT-TERM BORROWINGS	NOTE 12. SHORT-TERM BORROWINGS Following is a summary of short-term borrowings at December31: 2009 2008 (In millions) Federal funds purchased $ 30 $ 35 Securities sold under agreements to repurchase 1,863 3,108 Term Auction Facility 10,000 Treasury, tax and loan notes 7 Federal Home Loan Bank structured advances 1,000 1,500 Short-sale liability 266 629 Brokerage customer liabilities 424 430 Other short-term borrowings 78 120 $ 3,668 $ 15,822 Federal funds purchased and securities sold under agreements to repurchase are used to satisfy daily funding needs. Federal funds purchased and securities sold under agreements to repurchase had weighted-average maturities of 5 days and 2 days at December31, 2009 and 2008, respectively. Weighted-average rates on these dates were 0.2 and 0.5%, respectively. During 2009 and 2008, the Company utilized short-term borrowings through participation in the Federal Reserves Term Auction Facility (TAF). These fundings were utilized primarily to repay other short-term borrowings or provide excess balances at the Federal Reserve. At December31, 2009, Regions did not have any borrowings under the TAF and currently does not plan to borrow again through the TAF program. Regions exited the TAF program in July 2009. Borrowings under the TAF had a weighted-average maturity of 13 days and a weighted-average interest rate of 1.14% at December31, 2008. Treasury, tax and loan notes consist of borrowings from the Federal Reserve Bank. At December31, 2009, Regions can borrow a maximum amount of approximately $14 billion from the Federal Reserve Bank. Regions has pledged certain commercial, home equity and other consumer loans as discount window collateral. See Note 5 for loans pledged to the Federal Reserve Bank at December31, 2009 and 2008. See Note 13 to the consolidated financial statements for further discussion of Regions borrowing capacity with the FHLB. The short-sale liability represents Regions trading obligation to deliver certain securities at a predetermined date and price. Through Morgan Keegan, Regions maintains a liability for its brokerage customer position, which represents liquid funds in the customers brokerage accounts. Morgan Keegan maintains certain lines of credit with unaffiliated banks that provide for maximum borrowings of $585 million as of both December31, 2009 and 2008. Amounts outstanding under these lines of credit as of December31, 2009 and 2008, are included in other short-term borrowings.

LONG-TERM BORROWINGS

LONG-TERM BORROWINGS
	12 Months Ended Dec. 31, 2009 USD / shares
LONG-TERM BORROWINGS	NOTE 13. LONG-TERM BORROWINGS Long-term borrowings at December31 consist of the following: 2009 2008 (In millions) Federal Home Loan Bank structured advances $ 2,884 $ 1,628 Other Federal Home Loan Bank advances 4,520 6,469 6.375% subordinated notes due May 2012 598 598 7.75% subordinated notes due March 2011 512 523 7.00% subordinated notes due March 2011 500 499 7.375% subordinated notes due December 2037 300 300 6.125% subordinated notes due March 2009 175 6.75% subordinated debentures due November 2025 163 163 7.75% subordinated notes due September 2024 100 100 7.50% subordinated notes due May 2018 (Regions Bank) 750 750 6.45% subordinated notes due June 2037 (Regions Bank) 497 497 4.85% subordinated notes due April 2013 (Regions Bank) 491 490 5.20% subordinated notes due April 2015 (Regions Bank) 346 345 3.25% senior bank notes due December 2011 2,001 2,001 2.75% senior bank notes due December 2010 999 999 LIBOR floating rate senior bank notes due June 2010 250 250 LIBOR floating rate senior bank notes due December 2010 500 500 7.75% senior notes due November 2014 690 4.375% senior notes due December 2010 497 495 LIBOR floating rate senior notes due June 2012 350 350 LIBOR floating rate senior notes due June 2009 250 6.625% junior subordinated notes due May 2047 498 700 8.875% junior subordinated notes due June 2048 345 345 Other long-term debt 454 484 Valuation adjustments on hedged long-term debt 219 320 $ 18,464 $ 19,231 Long-term FHLB structured advances have stated maturities ranging from 2010 to 2013, but are convertible quarterly at the option of the FHLB. The convertible feature provides that after a specified date in the future, the advances will remain at a fixed rate, or Regions will have the option to either pay off the advance or convert from a fixed rate to a variable rate based on the LIBOR index. The FHLB structured advances have a weighted-average interest rate of 3.1% at December31, 2009 and 5.4% at both December31, 2008 and 2007. Other FHLB advances at December31, 2009, 2008 and 2007 have a weighted-average interest rate of 3.4%, 3.8% and 4.8%, respectively, with maturities of one to twenty years. FHLB borrowings are contingent upon the amount of collateral pledged to the FHLB. Regions has pledged certain residential first mortgage loans on one-to-four family dwellings and home equity lines of credit as collateral for the FHLB advances outstanding. See Note 5 for loans pledged to the FHLB at December31, 2009 and 2008. Additionally, membership in the FHLB requires an institution to hold FHLB stock, which was $473 million at December31, 2009 and $458 million at December31, 2008. As of December31, 2009, Regions had ten issuances of subordinated notes totaling $4.3 billion, with stated interest rates ranging from 4.85% to 7.75%. In May

REGULATORY CAPITAL REQUIREMENTS

REGULATORY CAPITAL REQUIREMENTS AND RESTRICTIONS
	12 Months Ended Dec. 31, 2009 USD / shares
REGULATORY CAPITAL REQUIREMENTS AND RESTRICTIONS	NOTE 14. REGULATORY CAPITAL REQUIREMENTS AND RESTRICTIONS Regions and Regions Bank are subject to regulatory capital requirements administered by Federal banking agencies. These regulatory capital requirements involve quantitative measures of the Companys assets, liabilities and certain off-balance sheet items, and also qualitative judgments by the regulators. Failure to meet minimum capital requirements can subject the Company to a series of increasingly restrictive regulatory actions. As of December31, 2009 and 2008, the most recent notification from Federal banking agencies categorized Regions and its significant subsidiaries as well capitalized under the regulatory framework. Minimum capital requirements for all banks are Tier 1 Capital of at least 4% of risk-weighted assets, Total Capital of at least 8% of risk-weighted assets and a Leverage Ratio of 3%, plus an additional 100 to 200 basis-point cushion in certain circumstances, of adjusted quarterly average assets. Tier 1 Capital consists principally of stockholders equity, excluding accumulated other comprehensive income (loss), less goodwill, deferred tax assets, and certain other intangibles. Total Capital consists of Tier 1 Capital plus certain debt instruments and the allowance for credit losses, subject to limitation. The Company believes that no changes in conditions or events have occurred since December31, 2009, which would result in changes that would cause Regions or Regions Bank to fall below the well capitalized level. Regions and its banking subsidiarys capital levels at December31 exceeded both the minimum and well capitalized levels, as shown below: December31, 2009 To Be Well Capitalized Amount Ratio (Dollars in millions) Tier 1 Common (non-GAAP): Regions Financial Corporation $ 7,385 7.15 % NA (1) Tier 1 Capital: Regions Financial Corporation $ 11,924 11.54 % 6.00 % Regions Bank 10,577 10.36 6.00 Total Capital: Regions Financial Corporation $ 16,303 15.78 % 10.00 % Regions Bank 13,935 13.65 10.00 Leverage: Regions Financial Corporation $ 11,924 8.90 % 5.00 % Regions Bank 10,577 8.05 5.00 December31, 2008 To Be Well Capitalized Amount Ratio (Dollars in millions) Tier 1 Common (non-GAAP): Regions Financial Corporation $ 7,634 6.57 % NA (1) Tier 1 Capital: Regions Financial Corporation $ 12,068 10.38 % 6.00 % Regions Bank 9,640 8.41 6.00 Total Capital: Regions Financial Corporation $ 17,014 14.64 % 10.00 % Regions Bank 13,233 11.55 10.00 Leverage: Regions Financial Corporation $ 12,068 8.47 % 5.00 % Regions Bank 9,640 6.91 5.00 (1) The Board of Governors of the Federal Reserve System has identified 4% as the level of Tier 1 Common capital sufficient to withstand adverse economic scenarios. Regions Bank is required to maintain reserve balances with t

STOCKHOLDERS' EQUITY AND COMPRE

STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME (LOSS)
	1/1/2009 - 12/31/2009 USD / shares
STOCKHOLDERS' EQUITY AND COMPREHENSIVE INCOME (LOSS)	NOTE 15. STOCKHOLDERS EQUITY AND COMPREHENSIVE INCOME (LOSS) 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 volati

EARNINGS

EARNINGS (LOSS) PER COMMON SHARE
	12 Months Ended Dec. 31, 2009 USD / shares
EARNINGS (LOSS) PER COMMON SHARE	NOTE 16. EARNINGS (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 for the years ended December31: 2009 2008 2007 (Inmillions,except pershareamounts) Numerator: Income (loss) from continuing operations $ (1,031 ) $ (5,585 ) $ 1,393 Less: Preferred stock dividends (230 ) (26 ) Income (loss) from continuing operations available to common shareholders (1,261 ) (5,611 ) 1,393 Loss from discontinued operations, net of tax (11 ) (142 ) Net income (loss) available to common shareholders $ (1,261 ) $ (5,622 ) $ 1,251 Denominator: Weighted-average common shares outstandingbasic 989 695 708 Common stock equivalents 5 Weighted-average common shares outstandingdiluted 989 695 713 Earnings (loss) per common share from continuing operations(1): Basic $ (1.27 ) $ (8.07 ) $ 1.97 Diluted (1.27 ) (8.07 ) 1.95 Earnings (loss) per common share from discontinued operations(1): Basic (0.02 ) (0.20 ) Diluted (0.02 ) (0.20 ) Earnings (loss) per common share(1): Basic (1.27 ) (8.09 ) 1.77 Diluted (1.27 ) (8.09 ) 1.76 (1) Certain per share amounts may not appear to reconcile due to rounding. The effect from the assumed issuance of 61million common shares upon conversion of mandatorily convertible preferred stock 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 for 2009 (see Note 15 to the consolidated financial statements.) The effect from the assumed exercise of 53million, 53million and 31million stock options was not included in the above computations of diluted earnings (loss) per common share for 2009, 2008 and 2007, respectively, because such amounts would have had an antidilutive effect on earnings (loss) per common share.

SHARE-BASED PAYMENTS

SHARE-BASED PAYMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
SHARE-BASED PAYMENTS	NOTE 17. SHARE-BASED PAYMENTS Regions has stock option and long-term incentive compensation plans, which permit the granting of incentive awards in the form of stock options, restricted stock, restricted stock units and stock appreciation rights. While Regions has the ability to issue stock appreciation rights, as of December31, 2009, 2008 and 2007, there were no outstanding 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 granted usually vest based on employee service and generally vest within three years from the date of the grant. Grants of performance-based restricted stock typically have a one-year performance period, after which shares vest within three years after the grant date. Restricted stock units, which were granted in 2008, have a vesting period of five years. Generally, the terms of these plans stipulate that the exercise price of options may not be less than the fair market value of Regions common stock at the date the options are granted; however, under prior stock option plans, non-qualified options could be granted with a lower exercise price than the fair market value of Regions common stock on the date of grant. The contractual life of options granted under these plans ranges from seven to ten years from the date of grant. Regions issues new shares from authorized reserves upon exercise. Grantees of restricted stock awards or units must either remain employed with the Company for certain periods from the date of grant in order for shares to be released or issued or retire after meeting the standards of a retiree, at which time shares would be prorated and released. Upon adoption of a new long-term incentive plan in 2006, Regions amended all other open stock and long-term incentive plans, such that no new awards may be granted under those plans subsequent to the amendment date. The outstanding awards were unaffected by this plan amendment. The plan adopted in 2006 provides that 20,000,000 common share equivalents are subject to and available for distribution to recipients. Each share of restricted stock granted under the 2006 plan is assigned a share equivalent factor of 4.0, as compared to the stock option equivalent factor of 1.0. The number of remaining share equivalents authorized for issuance under Regions long-term compensation plans was approximately 4,290,000 share equivalents at December31, 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

PENSION AND OTHER EMPLOYEE BENE

PENSION AND OTHER EMPLOYEE BENEFIT PLANS
	12 Months Ended Dec. 31, 2009 USD / shares
PENSION AND OTHER EMPLOYEE BENEFIT PLANS	NOTE 18. PENSION AND OTHER EMPLOYEE BENEFIT PLANS PENSION AND OTHER POSTRETIREMENT BENEFIT PLANS Regions has a defined-benefit pension plan (the Regions pension plan) covering substantially all employees employed on or before December31, 2000. After January1, 2001, the Regions pension plan was closed to new entrants. Benefits under the Regions pension plan are based on years of service and the employees highest five years of compensation during the last ten years of employment. Regions funding policy is to contribute annually at least the amount required by Internal Revenue Service minimum funding standards. Contributions are intended to provide not only for benefits attributed to service to date, but also for those expected to be earned in the future. The Company also sponsors a supplemental executive retirement program (the Regions SERP), which is a non-qualified plan that provides certain senior executive officers defined pension benefits in relation to their compensation. Regions also sponsors a defined-benefit postretirement health care plan that covers certain retired employees. Currently, the Company pays a portion of the costs of certain health care benefits for all eligible employees who retired before January1, 1989. No health care benefits are provided for employees retiring at normal retirement age after December31, 1988. For employees retiring before normal retirement age, the Company currently pays a portion of the costs of certain health care benefits until the retired employee becomes eligible for Medicare. Certain retirees, participating in plans of acquired entities, are offered a Medicare supplemental benefit. The plan is contributory and contains other cost-sharing features such as deductibles and co-payments. Retiree health care benefits, as well as similar benefits for active employees, are provided through a self-insured program in which Company and retiree costs are based on the amount of benefits paid. The Companys policy is to fund the Companys share of the cost of health care benefits in amounts determined at the discretion of management. As a result of the merger with AmSouth, Regions assumed the obligations related to AmSouths employee benefit plans. One of these assumed plans is a defined-benefit pension plan (the AmSouth pension plan) covering substantially all regular full-time employees and part-time employees who regularly work 1,000 hours or more each year and were employed at AmSouth at or before the merger. Subsequent to the merger, the AmSouth pension plan was closed to new participants. Regions also assumed AmSouths non-qualified supplemental executive retirement plan, which provides additional benefits to certain senior executives and is the Companys current active non-qualified plan (the SERP). Effective September30, 2007, the Regions pension plan and AmSouth pension plan were merged into one plan (the pension plan). The benefit structures of each former plan remain intact. All defined-benefit plans are referred to as the plans throughout the remainder of this footnote. Regions also assumed postretirement medical plans from AmSouth. These plans provide postretirement medical benefits to al

OTHER NON-INTEREST INCOME AND E

OTHER NON-INTEREST INCOME AND EXPENSE
	12 Months Ended Dec. 31, 2009 USD / shares
OTHER NON-INTEREST INCOME AND EXPENSE	NOTE 19. OTHER NON-INTEREST INCOME AND EXPENSE The following is a detail of other non-interest income for the years ended December31: 2009 2008 2007 (In millions) Insurance commissions and fees $ 105 $ 110 $ 99 Bank-owned life insurance 74 78 62 Commercial credit fee income 70 68 57 Leveraged lease termination gains 587 Gain on early extinguishment of debt 61 Bankcard income 33 34 27 Other miscellaneous income 161 144 175 $ 1,091 $ 434 $ 420 The following is a detail of non-interest expense for the years ended December31: 2009 2008 2007 (In millions) Professional and legal fees $ 309 $ 214 $ 152 Amortization of core deposit intangibles 120 134 155 Other real estate expense 175 103 16 Marketing 75 97 134 Mortgage servicing rights impairment 85 6 FDIC special assessment 64 FDIC premiums 163 15 11 Other miscellaneous expenses 736 988 992 $ 1,642 $ 1,636 $ 1,466

INCOME TAXES

INCOME TAXES
	12 Months Ended Dec. 31, 2009 USD / shares
INCOME TAXES	NOTE 20. INCOME TAXES Deferred income taxes reflect the net tax effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of Regions deferred tax assets and liabilities as of December31 are listed below: 2009 2008 (In millions) Deferred tax assets: Allowance for loan losses $ 1,206 $ 719 Other employee and director benefits 116 111 Purchase accounting basis differences 68 96 Federal credit carryforward 38 Net operating loss carryfowards, primarily state 129 67 Deferred compensation 32 59 Unrealized losses included in equity adjustments 17 Other 208 273 Total deferred tax assets 1,797 1,342 Less: valuation allowance on state net operating loss carryforwards (23 ) (23 ) Total deferred tax assets less valuation allowance 1,774 1,319 Deferred tax liabilities: Goodwill and intangibles 269 303 Lease financing 191 233 Originated mortgage servicing rights 127 73 Unrealized gains included in equity adjustments 75 Fixed assets 79 1 FDIC assessment 79 Other 4 48 Total deferred tax liabilities 824 658 Net deferred tax asset $ 950 $ 661 As a result of the $6.0 billion goodwill impairment during 2008, Regions is currently in a three-year cumulative pre-tax loss position. Excluding the goodwill impairment, which is not treated as tax deductible, Regions would have had cumulative three-year pre-tax income of $669 million. Regions has carryback potential to taxable income in prior years allowed by the tax law and future reversal of taxable temporary differences. Due to Regions strong capital position and history of significant pre-tax earnings, management believes these projected future earnings will significantly exceed total deferred tax assets. Of the $1.8 billion gross deferred tax asset at December31, 2009, only $38 million relating to tax credits (primarily affordable housing credits) has been recognized for tax purposes, which impose a 20 year expiration date by the operation of the United States tax law. The remaining gross deferred tax asset is produced by timing differences between GAAP and taxable income, a significant portion of which relates to allowances for loan losses. This portion of the gross deferred tax asset relates to items that have not yet reduced taxable income and therefore, do not have a set expiration as of December31, 2009. Accordingly, except as noted below relating to certain state tax net operating losses, management continues to believe that it is more-likely-than-not that the federal and remaining state deferred tax assets are realizable. At December31, 2009, Regions has state and federal net operating loss carryforwards of $3.0 billion that expire in years 2010

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES
	12 Months Ended Dec. 31, 2009 USD / shares
DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGING ACTIVITIES	NOTE 21. DERIVATIVE 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, as applicable, 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 marketable 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 December31, 2009: Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In millions) Derivatives designated as hedging instruments Interest rate swaps Otherassets $ 390 Otherliabilities $ 22 Interest rate options Other assets 52 Other liabilities Eurodollar futures(1) Other assets Other liabilities Total derivatives designated as hedging instruments $ 442 $ 22 Derivatives not designated as hedging instruments Interest rate swaps Other assets $ 1,518 Other liabilities $ 1,505 Interest rate options Other assets 26 Other liabilities 33 Interest rate futures and forward commitments Other assets 13 Other l

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
FAIR VALUE MEASUREMENTS	NOTE 22. FAIR VALUE MEASUREMENTS Authoritative accounting literature 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, 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 during 2009 and at lower of aggregate cost or estimated fair value during 2008. Below is a description of valuation methodologies for these assets and liabilities. Trading account assets, net and securities available for sale primarily consist of U.S. Treasuries, mortgage-backed and asset-backed securities (including agency securities), municipal bonds and equity securities (primarily common stock and mutual funds). Regions uses quoted market prices of identical assets on active exchanges, or Level 1 measurements. Where such quoted market prices are not available, Regions typically employs quoted market prices of similar instruments (including matrix pricing) and/or discounted cash flows to estimate a value of these securities, or Level 2 measurements. Level 2 discounted cash flow analyses are typically based on market interest rates, prepayment

BUSINESS SEGMENT INFORMATION

BUSINESS SEGMENT INFORMATION
	12 Months Ended Dec. 31, 2009 USD / shares
BUSINESS SEGMENT INFORMATION	NOTE 23. BUSINESS 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 and 2007 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 3) 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 years ended December31: General Banking/ Treasury Investment Banking/ Brokerage/ Trust Insurance Merger Charges and Discontinued Operations Total Company 2009 (In millions) Net interest income $ 3,274 $ 58 $ 3 $ $ 3,335 Provision for loan losses 3,541 3,541 Non-interest income 2,440 1,207 108 3,755 Other non-interest expense 3,542 1,122 87 4,751 Income tax expense (benefit) (232 ) 53 8 (171 ) Net income (loss) $ (1,137 ) $ 90 $ 16 $ $ (1,031 ) Average assets $ 137,683 $ 4,586 $ 490 $ $ 142,759 General Banking/ Treasury Investment Banking/ Brokerage/ Trust Insurance Merger Charges and Discontinued Operations Total Company 2008 (In millions) Net interest income $ 3,765 $ 74 $ 4 $ $ 3,843 Provision for loan losses 2,057 2,057 Non-interest income 1,777 1,183 113 3,073 Goodwill impairment 6,000 6,000 Other non-interest expense 3,448 1,055 88 219 4,810

COMMITMENTS, CONTINGENCIES AND

COMMITMENTS, CONTINGENCIES AND GUARANTEES
	12 Months Ended Dec. 31, 2009 USD / shares
COMMITMENTS, CONTINGENCIES AND GUARANTEES	NOTE 24. COMMITMENTS, CONTINGENCIES AND GUARANTEES 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 credit policies. 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 customer. Credit risk associated with these instruments as of December31 is based upon the contractual amounts indicated in the following table: 2009 2008 (In millions) Unused commitments to extend credit $ 31,008 $ 37,271 Standby letters of credit 4,610 7,603 Commercial letters of credit 30 20 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. 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 expire without being funded. 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 December31, 2009 and 2008, Regions had $119 million and $118 million, respectively, of liabilities associated with standby letter of credit agreements, with related assets of $114 million and $108 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 financial instruments was $74 million at both December31, 2009 and 2008. LEASES Operating leasesRegions and its subsidiaries lease land, premises and equipment under cancelable and non-cancelable leases, some of which contain renewal options under various terms. The leased properties are used primarily for banking purposes. Total rental expense on operating leases fo

PARENT COMPANY ONLY FINANCIAL S

PARENT COMPANY ONLY FINANCIAL STATEMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
PARENT COMPANY ONLY FINANCIAL STATEMENTS	NOTE 25. PARENT COMPANY ONLY FINANCIAL STATEMENTS Presented below are condensed financial statements of Regions Financial Corporation: Balance Sheets December31 2009 2008 (In millions) ASSETS Cash and due from banks $ 11 $ 1 Interest-bearing deposits 4,050 4,767 Loans to subsidiaries 91 91 Securities available for sale 46 67 Trading assets 22 19 Premises and equipment 69 78 Investments in subsidiaries: Banks 16,273 14,559 Non-banks 1,814 1,761 18,087 16,320 Other assets 421 491 Total assets $ 22,797 $ 21,834 LIABILITIES AND STOCKHOLDERS EQUITY Long-term borrowings $ 4,662 $ 4,687 Other liabilities 254 334 Total liabilities 4,916 5,021 Stockholders equity: Preferred stock 3,602 3,307 Common stock 12 7 Additional paid-in capital 18,781 16,815 Retained earnings (deficit) (3,235 ) (1,869 ) Treasury stock (1,409 ) (1,425 ) Accumulated other comprehensive income (loss) 130 (22 ) Total stockholders equity 17,881 16,813 Total liabilities and stockholders equity $ 22,797 $ 21,834 Statements of Operations Year Ended December31 2009 2008 2007 (In millions) Income: Dividends received from subsidiaries $ $ 725 $ 2,250 Service fees from subsidiaries 123 183 238 Interest from subsidiaries 16 40 47 Gain on extinguishment of debt 61 Other 8 11 24 208 959 2,559 Expenses: Salaries and employee benefits 133 226 225 Interest 162 240 257 Net occupancy expense 4 2 3 Furniture and equipment expense 7 6 8 Legal and other professional fees 14 6 3 Other 36 73 81 356 553 577 Income (loss) before income taxes and equity in undistributed earnings (loss) of subsidiaries (148 ) 406 1,982 Income tax benefit (31 ) (127 ) (131 ) Income (loss) before equity in undistributed earnings (loss) of subsidiaries and preferred dividends (117 ) 533 2,113 Equity in undistributed earnings (loss) of subsidiaries: Banks (978 ) (6,240 ) (986 ) Non-banks 64 111 124 (914 ) (6,129 ) (862 ) Net income (loss) (1,031 ) (5,596 ) 1,251 Preferred dividends (230 ) (26 ) Net income (loss) available to common shareholders $ (1,261 ) $ (5,622 ) $ 1,25

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Feb. 15, 2010	Jun. 30, 2009
Trading Symbol	RF
Entity Registrant Name	REGIONS FINANCIAL CORP
Entity Central Index Key	0001281761
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		1,192,645,878
Entity Public Float			$4,656,981,808