Regions Financial (RF) 8-K Regions Reports Earnings for First Quarter 2011

Exhibit 99.2

FINANCIAL SUPPLEMENT TO FIRST QUARTER 2011 EARNINGS RELEASE

Summary

Quarterly profit of $0.01 per diluted share reflects improved core business performance; Credit trends continue to improve; Commercial and Industrial loans continue to grow

• Strong taxable-equivalent net interest income and lower loan loss provision propel first quarter performance

• First quarter results include:

• $82 million in securities gains

• Loan loss provision declined 29% to $482 million

• Inflows of non-performing loans declined 23% linked quarter to $730 million

• Pre-tax pre-provision net revenue totaled $539 million; on an adjusted basis, was $460 million, or 16% higher compared to the same period a year ago

Credit trends continue to improve

• Non-performing loans, excluding loans held for sale, decreased $73 million or 2% linked quarter, and have declined for four consecutive quarters

• Net charge-offs decreased $201 million or 29% to $481 million; or an annualized 2.37% of loans as compared to fourth quarter’s 3.22%.

• Loan loss provision essentially matched net charge-offs resulting in an 8 basis points increase to 3.92 percent in the allowance for loan losses to net loans

• Allowance coverage ratio (ALL/NPL, excluding loans held for sale) rose to 1.03x as of March 31, 2011, as compared to 1.01x at December 31, 2010 and 0.86x at March 31, 2010

Focus on customers remains a strategic priority; C&I lending continues its momentum

• According to a report issued by the Temkin Group, Regions ranked as the top bank for customer experience, and as one of the top companies in America for customer service across all industries.

• Independent research by TNS, the world’s largest custom research company, awarded Regions two of its inaugural Choice Awards (a National and a Regional) based on the company’s leading “Competitive Momentum” as measured by bank’s customer growth, service quality, brand health and marketing communications.

• According to Gallup, Regions ranked in the top decile in customer loyalty among retail banks the last 5 quarters

• Average commercial & industrial loans, primarily middle market, increased $933 million or 4% linked quarter. Notably, the company experienced increases in 65% of its markets and commercial and industrial balances have grown for nine consecutive months.

• Average loans outstanding declined $1.7 billion or 2% linked quarter, due to our continued de-risking efforts, particularly involving investor real estate, which decreased $1.4 billion in the first quarter.

Net interest margin expansion driven by improving funding mix and slower prepayments resulting in lower investment portfolio premium amortization

• Net interest income decreased $14 million, or 2% linked quarter, due to the decline in number of days in the first quarter versus the fourth quarter

• Net interest margin improved 7 basis points to 3.07 percent as slower prepayments resulted in lower investment portfolio premium amortization in mortgage-backed securities, lower deposit costs, and lower average cash balances at the Federal Reserve

• Deposit costs declined another 5 basis points to 0.59%, driven by the company’s improvement in funding mix; ending low-cost deposits increased $1.9 billion linked quarter or 3% linked quarter

• Aggregate loan yield decreased 3 basis points linked quarter to 4.31% due to interest rate hedges that matured during the quarter

Modest decline in non-interest revenue; Non-interest expenses show improvement

• Non-interest income decreased $370 million, but $31 million or 4% linked quarter adjusted for the following: $333 million and $82 million in securities gains in fourth quarter 2010 and first quarter 2011, respectively, a $26 million gain and $3 million loss on sale of mortgage loans, respectively, and $59 million in leveraged lease terminations gains in fourth quarter 2010.

• Securities gains in 1Q11 and 4Q10 reflect the sale of approximately $2.4 billion and $8.1 billion, respectively, of agency mortgage-backed securities. The proceeds were reinvested in similar securities with slightly longer durations.

• Non-interest expenses decreased 8% linked quarter, however after adjusting for prior quarter’s $55 million loss on early extinguishment of debt, non-interest expenses decreased 4% driven by lower professional and legal fees, other real estate owned expenses, and salaries and benefits.

Strong capital and liquidity profile

• Tier 1 capital ratio of 12.5%⁽¹⁾

• Tier 1 common ratio of 7.9%⁽¹⁾

• As the rules are currently being interpreted, Basel III is expected to have a minimal impact to Regions

• Tangible common stockholders’ equity to tangible assets of 5.98%

• Loan to deposit ratio of 84.4%

⁽¹⁾  estimated

FINANCIAL SUPPLEMENT TO

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Regions Financial Corporation and Subsidiaries

Consolidated Balance Sheets

(Unaudited)

($ amounts in millions)

	3/31/11			12/31/10			9/30/10			6/30/10			3/31/10
Assets:
Cash and due from banks	$	2,042		$	1,643		$	1,898		$	2,097		$	2,252
Interest-bearing deposits in other banks		4,937			4,880			3,852			4,562			4,295
Federal funds sold and securities purchased under agreements to resell		341			396			1,137			752			324
Trading account assets		1,284			1,116			1,580			1,261			1,238
Securities available for sale		24,702			23,289			23,555			24,166			24,219
Securities held to maturity		22			24			26			28			30
Loans held for sale		1,552			1,485			1,587			1,162			1,048
Loans, net of unearned income		81,371			82,864			84,420			85,945			88,174
Allowance for loan losses		(3,186	)		(3,185	)		(3,185	)		(3,185	)		(3,184	)
Net loans		78,185			79,679			81,235			82,760			84,990
Other interest-earning assets		1,214			1,219			1,043			1,082			819
Premises and equipment, net		2,528			2,569			2,564			2,588			2,637
Interest receivable		441			421			512			466			503
Goodwill		5,561			5,561			5,561			5,561			5,559
Mortgage servicing rights (MSRs)		282			267			204			220			270
Other identifiable intangible assets		358			385			414			443			472
Other assets		8,307			9,417			8,330			8,192			8,574
Total Assets	$	131,756		$	132,351		$	133,498		$	135,340		$	137,230
Liabilities and Stockholders’ Equity:
Deposits:
Non-interest-bearing	$	27,480		$	25,733		$	25,300		$	22,993		$	23,391
Interest-bearing		68,889			68,881			69,678			73,257			74,941
Total deposits		96,369			94,614			94,978			96,250			98,332
Borrowed funds:
Short-term borrowings:
Federal funds purchased and securities sold under agreements to repurchase		2,218			2,716			2,451			1,929			1,687
Other short-term borrowings		964			1,221			1,210			1,035			997
Total short-term borrowings		3,182			3,937			3,661			2,964			2,684
Long-term borrowings		12,197			13,190			14,335			15,415			15,683
Total borrowed funds		15,379			17,127			17,996			18,379			18,367
Other liabilities		3,389			3,876			3,361			3,248			2,893
Total Liabilities		115,137			115,617			116,335			117,877			119,592
Stockholders’ equity:
Preferred stock, Series A		3,389			3,380			3,370			3,360			3,351
Preferred stock, Series B		—			—			—			—			259
Common stock		13			13			13			13			12
Additional paid-in capital		19,047			19,050			19,047			19,038			18,781
Retained earnings (deficit)		(4,043	)		(4,047	)		(4,070	)		(3,849	)		(3,502	)
Treasury stock, at cost		(1,400	)		(1,402	)		(1,405	)		(1,405	)		(1,407	)
Accumulated other comprehensive income (loss), net		(387	)		(260	)		208			306			144
Total Stockholders’ Equity		16,619			16,734			17,163			17,463			17,638
Total Liabilities and Stockholders’ Equity	$	131,756		$	132,351		$	133,498		$	135,340		$	137,230

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Regions Financial Corporation and Subsidiaries

Consolidated Statements of Operations

(Unaudited)

($ amounts in millions, except per share data)	Quarter Ended
	3/31/11			12/31/10		9/30/10			6/30/10			3/31/10
Interest income on:
Loans, including fees	$	867		$	911	$	919		$	930		$	945
Securities:
Taxable		207			193		214			224			242
Tax-exempt		—			—		—			—			1
Total securities		207			193		214			224			243
Loans held for sale		13			12		10			9			8
Federal funds sold and securities purchased under agreements to resell		—			1		1			1			—
Trading account assets		7			12		8			9			12
Other interest-earning assets		6			7		6			7			7
Total interest income		1,100			1,136		1,158			1,180			1,215
Interest expense on:
Deposits		139			152		167			194			242
Short-term borrowings		3			2		3			2			3
Long-term borrowings		95			105		120			128			139
Total interest expense		237			259		290			324			384
Net interest income		863			877		868			856			831
Provision for loan losses		482			682		760			651			770
Net interest income after provision for loan losses		381			195		108			205			61
Non-interest income:
Service charges on deposit accounts		287			290		294			302			288
Brokerage, investment banking and capital markets		267			312		257			254			236
Mortgage income		45			51		66			63			67
Trust department income		50			50		49			49			48
Securities gains, net		82			333		2			—			59
Other		112			177		82			88			114
Total non-interest income		843			1,213		750			756			812
Non-interest expense:
Salaries and employee benefits		594			601		582			560			575
Net occupancy expense		109			108		110			110			120
Furniture and equipment expense		77			76		75			79			74
Other-than-temporary impairments		—			—		1			—			1
Regulatory charge		—			—		—			200			—
Other		387			481		395			377			460
Total non-interest expense		1,167			1,266		1,163			1,326			1,230
Income (loss) before income taxes		57			142		(305	)		(365	)		(357	)
Income tax expense (benefit)		(12	)		53		(150	)		(88	)		(161	)
Net income (loss)	$	69		$	89	$	(155	)	$	(277	)	$	(196	)
Net income (loss) available to common shareholders	$	17		$	36	$	(209	)	$	(335	)	$	(255	)
Weighted-average shares outstanding - during quarter:
Basic		1,257			1,257		1,257			1,200			1,194
Diluted		1,259			1,259		1,257			1,200			1,194
Actual shares outstanding - end of quarter		1,256			1,256		1,256			1,256			1,192
Earnings (loss) per common share (1):
Basic	$	0.01		$	0.03	$	(0.17	)	$	(0.28	)	$	(0.21	)
Diluted	$	0.01		$	0.03	$	(0.17	)	$	(0.28	)	$	(0.21	)
Cash dividends declared per common share	$	0.01		$	0.01	$	0.01		$	0.01		$	0.01
Taxable-equivalent net interest income from continuing operations	$	872		$	886	$	876		$	863		$	839

(1) Includes preferred stock dividends.

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Regions Financial Corporation and Subsidiaries

Consolidated Average Daily Balances and Yield/Rate Analysis

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

	Quarter Ended
	3/31/11								12/31/10								9/30/10								6/30/10								3/31/10
	Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate
Assets
Interest-earning assets:
Federal funds sold and securities purchased under agreements to resell	$	305		$	—		—	%	$	952		$	1		0.42	%	$	1,096		$	1		0.36	%	$	345		$	1		1.16	%	$	373		$	—		—	%
Trading account assets		1,162			8		2.79			1,255			13		4.11			1,214			9		2.94			1,186			9		3.04			1,288			13		4.09
Securities:
Taxable		24,758			207		3.39			23,878			193		3.21			23,863			214		3.56			23,862			224		3.77			23,811			242		4.12
Tax-exempt		30			—		—			47			—		—			39			—		—			41			—		—			51			1		7.95
Loans held for sale		1,486			13		3.55			1,486			12		3.20			1,213			10		3.27			1,031			9		3.50			1,392			8		2.33
Loans, net of unearned income		82,412			875		4.31			84,108			920		4.34			85,616			926		4.29			87,266			936		4.30			89,723			952		4.30
Other interest-earning assets		4,989			6		0.49			5,188			6		0.46			4,308			6		0.55			6,745			8		0.48			5,973			7		0.48
Total interest-earning assets		115,142			1,109		3.91			116,914			1,145		3.89			117,349			1,166		3.94			120,476			1,187		3.95			122,611			1,223		4.04
Allowance for loan losses		(3,209	)							(3,164	)							(3,223	)							(3,215	)							(3,144	)
Cash and due from banks		2,164								2,069								2,059								2,112								2,181
Other non-earning assets		17,115								17,515								17,544								17,912								17,917
	$	131,212							$	133,334							$	133,729							$	137,285							$	139,565
Liabilities and Stockholders’ Equity
Interest-bearing liabilities:
Savings accounts	$	4,837			1		0.08		$	4,622			1		0.09		$	4,517			1		0.09		$	4,478			1		0.09		$	4,215			1		0.10
Interest-bearing transaction accounts		13,228			7		0.21			12,690			6		0.19			13,606			7		0.20			15,651			8		0.21			15,709			11		0.28
Money market accounts		27,816			21		0.31			28,273			23		0.32			28,088			22		0.31			27,302			32		0.47			25,715			40		0.63
Time deposits		22,971			110		1.94			23,369			122		2.07			25,161			137		2.16			26,933			153		2.28			29,779			190		2.59
Total interest-bearing deposits (1)		68,852			139		0.82			68,954			152		0.87			71,372			167		0.93			74,364			194		1.05			75,418			242		1.30
Federal funds purchased and securities sold under agreements to repurchase		2,167			1		0.19			3,162			—		—			2,176			1		0.18			1,798			1		0.22			1,989			1		0.20
Other short-term borrowings		1,068			2		0.76			1,056			2		0.75			866			2		0.92			847			1		0.47			1,086			2		0.75
Long-term borrowings		12,891			95		2.99			14,006			105		2.97			14,878			120		3.20			15,933			128		3.22			17,417			139		3.24
Total interest-bearing liabilities		84,978			237		1.13			87,178			259		1.18			89,292			290		1.29			92,942			324		1.40			95,910			384		1.62
Net interest spread							2.78								2.71								2.65								2.55								2.42
Non-interest-bearing deposits (1)		26,405								25,688								23,706								23,688								22,817
Other liabilities		3,145								3,422								3,349								3,063								3,040
Stockholders’ equity		16,684								17,046								17,382								17,592								17,798
	$	131,212							$	133,334							$	133,729							$	137,285							$	139,565
Net interest income/margin FTE basis				$	872		3.07	%				$	886		3.00	%				$	876		2.96	%				$	863		2.87	%				$	839		2.77	%

(1) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.59%, 0.64%, 0.70%, 0.79% and 1.00% for the quarters ended March 31, 2011, December 31, 2010, September 30, 2010, June 30, 2010 and March 31, 2010, respectively.

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Regions Financial Corporation and Subsidiaries

Selected Ratios

	As of and for Quarter Ended
	3/31/11			12/31/10			9/30/10			6/30/10			3/31/10
Return on average assets (non-GAAP)*		0.05	%		0.11	%		(0.62	%)		(0.98	%)		(0.74	%)
Return on average assets, excluding regulatory charge (non-GAAP)*		0.05	%		0.11	%		(0.62	%)		(0.40	%)		(0.74	%)
Return on average common equity*		0.51	%		1.04	%		(5.91	%)		(9.62	%)		(7.28	%)
Return on average tangible common equity (non-GAAP)*		0.89	%		1.78	%		(10.00	%)		(16.36	%)		(12.29	%)
Return on average tangible common equity, excluding regulatory charge (non-GAAP)*		0.89	%		1.78	%		(10.00	%)		(6.60	%)		(12.29	%)
Efficiency Ratio (non-GAAP) (3)		71.3	%		72.0	%		71.6	%		69.5	%		74.3	%
Common equity per share	$	10.53		$	10.62		$	10.98		$	11.23		$	11.77
Tangible common book value per share (non-GAAP)	$	6.00		$	6.09		$	6.42		$	6.65		$	6.93
Stockholders’ equity to total assets		12.61	%		12.64	%		12.86	%		12.90	%		12.85	%
Tangible common stockholders’ equity to tangible assets (non-GAAP)		5.98	%		6.04	%		6.31	%		6.45	%		6.28	%
Tier 1 Common risk-based ratio (non-GAAP) (1)		7.9	%		7.9	%		7.6	%		7.7	%		7.1	%
Tier 1 Capital (1)		12.5	%		12.4	%		12.1	%		12.0	%		11.7	%
Total Risk-Based Capital (1)		16.5	%		16.4	%		16.0	%		15.9	%		15.8	%
Allowance for credit losses as a percentage of loans, net of unearned income (2)		4.01	%		3.93	%		3.86	%		3.79	%		3.69	%
Allowance for loan losses as a percentage of loans, net of unearned income		3.92	%		3.84	%		3.77	%		3.71	%		3.61	%
Allowance for loan losses to non-performing loans, excluding loans held for sale		1.03x			1.01x			0.94x			0.92x			0.86x
Net interest margin (FTE)		3.07	%		3.00	%		2.96	%		2.87	%		2.77	%
Loans, net of unearned income, to total deposits		84.4	%		87.6	%		88.9	%		89.3	%		89.7	%
Net charge-offs as a percentage of average loans*		2.37	%		3.22	%		3.52	%		2.99	%		3.16	%
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties and non-performing loans held for sale (4)		4.78	%		4.69	%		4.96	%		4.93	%		5.13	%
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties and non-performing loans held for sale (4)		5.42	%		5.38	%		5.65	%		5.63	%		5.92	%

* Annualized

(1) Current quarter Tier 1 Common, Tier 1 and Total Risk-Based Capital ratios are estimated

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

(3) Efficiency ratio is shown on an operating basis and excludes adjustments as noted on page 25 in the Reconciliation to GAAP Financial Measures schedule

(4) Beginning in the first quarter of 2011, non-performing assets ratios include non-performing loans held for sale in the denominator, in addition to portfolio loans and foreclosed properties. Prior quarters have been revised to conform to current period presentation.

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Loans

Loan Portfolio - Period End Data
($ amounts in millions)											3/31/11					3/31/11
	3/31/11		12/31/10		9/30/10		6/30/10		3/31/10		vs. 12/31/10					vs. 3/31/10
Commercial and industrial	$	23,149	$	22,540	$	21,501	$	21,096	$	21,220	$	609		2.7	%	$	1,929		9.1	%
Commercial real estate mortgage - owner-occupied		11,889		12,046		11,850		11,967		12,028		(157	)	–1.3	%		(139	)	–1.2	%
Commercial real estate construction - owner-occupied		430		470		522		547		598		(40	)	–8.5	%		(168	)	–28.1	%
Total commercial		35,468		35,056		33,873		33,610		33,846		412		1.2	%		1,622		4.8	%
Commercial investor real estate mortgage		12,932		13,621		14,489		15,152		15,702		(689	)	–5.1	%		(2,770	)	–17.6	%
Commercial investor real estate construction		1,895		2,287		2,975		3,778		4,703		(392	)	–17.1	%		(2,808	)	–59.7	%
Total investor real estate		14,827		15,908		17,464		18,930		20,405		(1,081	)	–6.8	%		(5,578	)	–27.3	%
Residential first mortgage		14,404		14,898		15,723		15,567		15,592		(494	)	–3.3	%		(1,188	)	–7.6	%
Home equity		13,874		14,226		14,534		14,802		15,066		(352	)	–2.5	%		(1,192	)	–7.9	%
Indirect		1,626		1,592		1,657		1,900		2,162		34		2.1	%		(536	)	–24.8	%
Other consumer		1,172		1,184		1,169		1,136		1,103		(12	)	–1.0	%		69		6.3	%
	$	81,371	$	82,864	$	84,420	$	85,945	$	88,174	$	(1,493	)	–1.8	%	$	(6,803	)	–7.7	%
Loan Portfolio - Average Balances
($ amounts in millions)											1Q11					1Q11
	1Q11		4Q10		3Q10		2Q10		1Q10		vs. 4Q10					vs. 1Q10
Commercial and industrial	$	22,889	$	21,956	$	21,313	$	21,109	$	21,429	$	933		4.2	%	$	1,460		6.8	%
Commercial real estate mortgage - owner-occupied		12,012		11,944		11,944		12,005		12,056		68		0.6	%		(44	)	–0.4	%
Commercial real estate construction - owner-occupied		438		503		516		563		686		(65	)	–12.9	%		(248	)	–36.2	%
Total commercial		35,339		34,403		33,773		33,677		34,171		936		2.7	%		1,168		3.4	%
Commercial investor real estate mortgage		13,393		14,223		15,090		15,586		16,220		(830	)	–5.8	%		(2,827	)	–17.4	%
Commercial investor real estate construction		2,100		2,649		3,477		4,340		5,071		(549	)	–20.7	%		(2,971	)	–58.6	%
Total investor real estate		15,493		16,872		18,567		19,926		21,291		(1,379	)	–8.2	%		(5,798	)	–27.2	%
Residential first mortgage		14,692		15,620		15,632		15,537		15,567		(928	)	–5.9	%		(875	)	–5.6	%
Home equity		14,053		14,389		14,684		14,947		15,237		(336	)	–2.3	%		(1,184	)	–7.8	%
Indirect		1,628		1,606		1,776		2,028		2,310		22		1.4	%		(682	)	–29.5	%
Other consumer		1,207		1,218		1,184		1,151		1,147		(11	)	–0.9	%		60		5.2	%
	$	82,412	$	84,108	$	85,616	$	87,266	$	89,723	$	(1,696	)	–2.0	%	$	(7,311	)	–8.1	%

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 7

Deposits

Deposit Portfolio - Period End Data
($ amounts in millions)											3/31/11					3/31/11
	3/31/11		12/31/10		9/30/10		6/30/10		3/31/10		vs. 12/31/10					vs. 3/31/10
Customer Deposits
Interest-free deposits	$	27,480	$	25,733	$	25,300	$	22,993	$	23,391	$	1,747		6.8	%	$	4,089		17.5	%
Interest-bearing checking		13,365		13,423		12,409		15,148		15,715		(58	)	–0.4	%		(2,350	)	–15.0	%
Savings		5,064		4,668		4,544		4,475		4,394		396		8.5	%		670		15.2	%
Money market - domestic		27,261		27,420		27,983		26,773		26,196		(159	)	–0.6	%		1,065		4.1	%
Money market - foreign		533		569		509		502		635		(36	)	–6.3	%		(102	)	–16.1	%
Low-cost deposits		73,703		71,813		70,745		69,891		70,331		1,890		2.6	%		3,372		4.8	%
Time deposits		22,656		22,784		24,177		26,298		27,939		(128	)	–0.6	%		(5,283	)	–18.9	%
Total customer deposits		96,359		94,597		94,922		96,189		98,270		1,762		1.9	%		(1,911	)	–1.9	%
Corporate Treasury Deposits
Time deposits		10		17		56		61		62		(7	)	–41.2	%		(52	)	–83.9	%
Total Deposits	$	96,369	$	94,614	$	94,978	$	96,250	$	98,332	$	1,755		1.9	%	$	(1,963	)	–2.0	%
Deposit Portfolio - Average Balances
($ amounts in millions)											1Q11					1Q11
	1Q11		4Q10		3Q10		2Q10		1Q10		vs. 4Q10					vs. 1Q10
Customer Deposits
Interest-free deposits	$	26,405	$	25,688	$	23,706	$	23,688	$	22,817	$	717		2.8	%	$	3,588		15.7	%
Interest-bearing checking		13,228		12,690		13,606		15,651		15,709		538		4.2	%		(2,481	)	–15.8	%
Savings		4,837		4,622		4,517		4,478		4,215		215		4.7	%		622		14.8	%
Money market - domestic		27,276		27,767		27,574		26,670		24,961		(491	)	–1.8	%		2,315		9.3	%
Money market - foreign		540		506		514		632		754		34		6.7	%		(214	)	–28.4	%
Low-cost deposits		72,286		71,273		69,917		71,119		68,456		1,013		1.4	%		3,830		5.6	%
Time deposits		22,956		23,347		25,100		26,872		29,707		(391	)	–1.7	%		(6,751	)	–22.7	%
Total customer deposits		95,242		94,620		95,017		97,991		98,163		622		0.7	%		(2,921	)	–3.0	%
Corporate Treasury Deposits
Time deposits		15		22		61		61		72		(7	)	–31.8	%		(57	)	–79.2	%
Total Deposits	$	95,257	$	94,642	$	95,078	$	98,052	$	98,235	$	615		0.6	%	$	(2,978	)	–3.0	%

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 8

Pre-Tax Pre-Provision Net Revenue (“PPNR”) and Adjusted PPNR (non-GAAP)

The table below presents computations of pre-tax pre-provision net revenue excluding certain adjustments (non-GAAP). Regions believes that the exclusion of these adjustments provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes certain adjustments does not represent the amount that effectively accrues directly to stockholders.

($ amounts in millions)	1Q11			4Q10			3Q10			2Q10		1Q10			1Q11 vs. 4Q10						1Q11 vs. 1Q10
Net Interest Income (GAAP)	$	863		$	877		$	868		$	856	$	831		$	(14	)		–1.6	%	$	32		3.9	%
Non-Interest Income (GAAP)		843			1,213			750			756		812			(370	)		–30.5	%		31		3.8	%
Total Revenue (GAAP)		1,706			2,090			1,618			1,612		1,643			(384	)		–18.4	%		63		3.8	%
Non-Interest Expense (GAAP)		1,167			1,266			1,163			1,326		1,230			(99	)		–7.8	%		(63	)	–5.1	%
Pre-tax Pre-provision Net Revenue (GAAP)	$	539		$	824		$	455		$	286	$	413			(285	)		–34.6	%		126		30.5	%
Adjustments:
Regulatory charge, net of tax		—			—			—			200		—			—			—			—		—
Securities gains, net		(82	)		(333	)		(2	)		—		(59	)		251		–	75.4	%		(23	)	39.0	%
Loss (gain) on sale of mortgage loans		3			(26	)		—			—		—			29		–	111.5	%		3		NM
Leveraged lease termination gains		—			(59	)		—			—		(19	)		59			NM			19		NM
Loss on early extinguishment of debt		—			55			—			—		53			(55	)		NM			(53	)	NM
Securities impairment, net		—			—			1			—		1			—			—			(1	)	NM
Branch consolidation costs (1)		—			—			—			—		8			—			—			(8	)	NM
Total adjustments		(79	)		(363	)		(1	)		200		(16	)		284			NM			(63	)	393.8	%
Adjusted PPNR (non-GAAP)	$	460		$	461		$	454		$	486	$	397		$	(1	)		–0.2	%	$	63		15.9	%

(1) Includes $7 million of net occupancy expense and $1 million in valuation charges in 1Q10.

Categorization of Income (Loss) Related to

Mortgage Servicing Rights (MSRs) (2)

($ amounts in millions)	1Q11			4Q10			3Q10		2Q10		1Q10		1Q11 vs. 4Q10			1Q11 vs. 1Q10
Net interest income (3)	$	—		$	—		$	—	$	—	$	3		—	—		(3	)	NM
Brokerage, investment banking and capital markets (4)		—			—			—		—		4		—	—		(4	)	NM
Mortgage income (loss) (5)		(11	)		(13	)		2		12		16		2	NM		(27	)	NM
	$	(11	)	$	(13	)	$	2	$	12	$	23		2	NM		(34	)	–147.8	%

(2) This table details the impact of changes in valuation of mortgage servicing rights and related hedging instruments on various categories in the consolidated statements of operations.

(3) Interest earned on trading securities used to hedge MSRs.

(4) Mark-to-market impact of trading securities used to hedge MSRs.

(5) Net effect of mark-to-market impact of MSRs and derivatives used to hedge MSRs.

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 9

Non-Interest Income and Expense

Non-Interest Income and Expense

Non-Interest Income

($ amounts in millions)	1Q11			4Q10		3Q10		2Q10		1Q10		1Q11 vs. 4Q10					1Q11 vs. 1Q10
Service charges on deposit accounts	$	287		$	290	$	294	$	302	$	288	$	(3	)	–1.0	%	$	(1	)	–0.3	%
Brokerage, investment banking and capital markets		267			312		257		254		236		(45	)	–14.4	%		31		13.1	%
Mortgage income		45			51		66		63		67		(6	)	–11.8	%		(22	)	–32.8	%
Trust department income		50			50		49		49		48		—		0.0	%		2		4.2	%
Securities gains, net		82			333		2		—		59		(251	)	NM			23		39.0	%
Insurance income		28			25		25		26		27		3		12.0	%		1		3.7	%
Leveraged lease termination gains		—			59		—		—		19		(59	)	NM			(19	)	NM
(Loss) gain on sale of mortgage loans		(3	)		26		—		—		—		(29	)	NM			(3	)	NM
Other		87			67		57		62		68		20		29.9	%		19		27.9	%
Total non-interest income	$	843		$	1,213	$	750	$	756	$	812	$	(370	)	–30.5	%	$	31		3.8	%
Non-Interest Expense
($ amounts in millions)	1Q11			4Q10		3Q10		2Q10		1Q10		1Q11 vs. 4Q10					1Q11 vs. 1Q10
Salaries and employee benefits	$	594		$	601	$	582	$	560	$	575	$	(7	)	–1.2	%	$	19		3.3	%
Net occupancy expense		109			108		110		110		120		1		0.9	%		(11	)	–9.2	%
Furniture and equipment expense		77			76		75		79		74		1		1.3	%		3		4.1	%
Professional and legal fees		81			92		71		75		66		(11	)	–12.0	%		15		22.7	%
Marketing expense		13			14		22		18		15		(1	)	–7.1	%		(2	)	–13.3	%
Amortization of core deposit intangible		25			26		27		27		28		(1	)	–3.8	%		(3	)	–10.7	%
Other real estate owned expense		39			61		65		41		42		(22	)	–36.1	%		(3	)	–7.1	%
Other-than-temporary impairments, net		—			—		1		—		1		—		—			(1	)	NM
FDIC premiums		52			52		51		58		59		—		0.0	%		(7	)	–11.9	%
Valuation charges associated with branch consolidations		—			—		—		—		1		—		—			(1	)	NM
Loss on early extinguishment of debt		—			55		—		—		53		(55	)	NM			(53	)	NM
Regulatory charge		—			—		—		200		—		—		—			—		—
Other		177			181		159		158		196		(4	)	–2.2	%		(19	)	–9.7	%
Total non-interest expense	$	1,167		$	1,266	$	1,163	$	1,326	$	1,230	$	(99	)	–7.8	%	$	(63	)	–5.1	%

• Non-interest income decreased $370 million, but $31 million or 4% linked quarter adjusted for the following: $333 million and $82 million in securities gains in fourth quarter 2010 and first quarter 2011, respectively, a $26 million gain and $3 million loss on sale of mortgage loans, respectively, and $59 million in leveraged lease terminations gains in fourth quarter 2010.

• Service charges income declined $3 million or 1% linked quarter, primarily reflecting seasonality. This quarter reflected solid interchange income due to increased debit card volume and fee-based account growth. As of March 1, 2011, all checking accounts are fee eligible.

• Brokerage, investment banking and capital markets income decreased $45 million to $267 million, driven by the decline in investment banking revenue, which had several sizable investment banking transactions in 4Q10

• Mortgage income declined $6 million linked quarter, primarily reflecting a linked quarter decline in origination volumes. However, on a year-over-year basis, origination volumes of $1.6 billion were 13% higher. Year-over-year mortgage income decline reflects MSR/hedge activity.

• Securities gains in 1Q11 and 4Q10 reflect the sale of approximately $2.4 billion and $8.1 billion, respectively, of agency mortgage-backed securities. In both quarters, the proceeds were reinvested in similar securities with slightly longer durations.

• Other non-interest income included a $20 million and $15 million insurance recovery for previously incurred legal expenses in 1Q11 and 1Q10, respectively

• Non-interest expenses decreased 8% linked quarter, however after adjusting for prior quarter’s $55 million loss on early extinguishment of debt, non-interest expenses decreased 4% driven by lower professional and legal fees and other real estate owned expenses

• Salaries and benefits expense decreased 1% linked quarter, due to lower headcount, lower incentives from brokerage, investment banking and capital markets, offset by higher payroll taxes

• Other real estate owned expense declined $22 million reflecting less valuation adjustments

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 10

Morgan Keegan

Morgan Keegan

Summary Income Statement (1)

($ amounts in millions)	1Q11		4Q10		3Q10		2Q10			1Q10		1Q11 vs. 4Q10						1Q11 vs. 1Q10
Net interest income (3)	$	15	$	21	$	15	$	15		$	14	$	(6	)	–	28.6	%	$	1	7.1	%
Non-interest income		314		342		309		292			297		(28	)	–	8.2	%		17	5.7	%
Non-interest expense		273		320		289		275			272		(47	)	–	14.7	%		1	0.4	%
Regulatory charge		—		—		—		200			—		—			NM			—	NM
Pre-tax Income		56		43		35		(168	)		39		13			30.2	%		17	43.6	%
Income tax expense (benefit)		25		26		13		12			14		(1	)	–	3.8	%		11	78.6	%
Net income (loss)	$	31	$	17	$	22	$	(180	)	$	25		14			82.4	%		6	24.0	%

Breakout of Revenue by Division (2)

($ amounts in millions)	Private Client			Fixed- Income Capital Markets			Equity Capital Markets			Investment Banking			Regions MK Trust			Asset Management			Interest & Other
Three months ended March 31, 2011
$ amount of revenue	$	125		$	66		$	16		$	30		$	56		$	3		$	37
% of gross revenue		37.6	%		19.8	%		4.8	%		9.0	%		16.8	%		0.9	%		11.1	%
Three months ended December 31, 2010
$ amount of revenue	$	124		$	82		$	15		$	57		$	56		$	3		$	30
% of gross revenue		33.8	%		22.3	%		4.1	%		15.5	%		15.3	%		0.8	%		8.2	%
Three Months Ended March 31, 2010
$ amount of revenue	$	114		$	72		$	13		$	27		$	49		$	4		$	35
% of gross revenue		36.3	%		22.9	%		4.1	%		8.6	%		15.6	%		1.3	%		11.2	%

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

(2) “Breakout of Revenue by Division” has been adjusted to reflect changes in the company’s reporting structure

(3) Net interest income in the Summary Income Statement is illustrated on a net basis, whereas the Breakout of Revenue by Division, revenue is illustrated on a gross basis. 1Q11 and 4Q10 in the Summary Income Statement excludes $4 million each quarter of gross interest income and 3Q10, 2Q10 and 1Q10 in the Summary Income Statement excludes $3 million each quarter of gross interest income.

• Private Client division continues to benefit from improvement in the equities market and is experiencing growth from opening new offices.

• According to ThomsonReuters, Morgan Keegan was the 9th leading firm nationally and #1 in Arkansas, Mississippi, Tennessee and Texas for municipal underwritings.

• Fixed income Capital Markets and Investment Banking revenues were negatively impacted by the uncertainty in the municipal markets and the ending of the Build America Bonds program.

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 11

Credit Quality

Credit Quality

	As of and for Quarter Ended
($ amounts in millions)	3/31/11			12/31/10			9/30/10			6/30/10			3/31/10
Allowance for credit losses (ACL)	$	3,264		$	3,256		$	3,256		$	3,256		$	3,250
Provision for loan losses		482			682			760			651			770
Provision for unfunded credit losses		7			—			—			5			(8	)
Net loans charged-off:
Commercial and industrial		72			128			89			87			92
Commercial real estate mortgage - owner-occupied		66			80			64			39			32
Commercial real estate construction - owner-occupied		4			4			3			3			14
Total commercial		142			212			156			129			138
Commercial investor real estate mortgage		132			202			254			203			207
Commercial investor real estate construction		42			99			171			133			150
Total investor real estate		174			301			425			336			357
Residential first mortgage		56			56			58			61			62
Home equity		94			92			102			106			116
Indirect		4			4			3			4			8
Other consumer		11			17			15			15			19
Total	$	481		$	682		$	759		$	651		$	700
Net loan charge-offs as a % of average loans, annualized
Commercial and industrial		1.27	%		2.31	%		1.66	%		1.65	%		1.74	%
Commercial real estate mortgage - owner-occupied		2.23	%		2.64	%		2.12	%		1.28	%		1.09	%
Commercial real estate construction - owner-occupied		3.74	%		3.54	%		1.95	%		2.17	%		8.41	%
Total commercial		1.63	%		2.44	%		1.83	%		1.53	%		1.64	%
Commercial investor real estate mortgage		4.00	%		5.63	%		6.67	%		5.22	%		5.17	%
Commercial investor real estate construction		8.07	%		14.91	%		19.57	%		12.33	%		12.00	%
Total investor real estate		4.56	%		7.09	%		9.09	%		6.77	%		6.80	%
Residential first mortgage		1.55	%		1.42	%		1.48	%		1.58	%		1.63	%
Home equity		2.71	%		2.53	%		2.74	%		2.84	%		3.07	%
Indirect		1.05	%		1.09	%		0.64	%		0.72	%		1.38	%
Other consumer		3.70	%		5.54	%		5.03	%		5.23	%		6.68	%
Total		2.37	%		3.22	%		3.52	%		2.99	%		3.16	%
Non-accrual loans, excluding loans held for sale	$	3,087		$	3,160		$	3,372		$	3,473		$	3,706
Non-performing loans held for sale		381			304			393			256			256
Non-accrual loans, including loans held for sale	$	3,468		$	3,464		$	3,765		$	3,729		$	3,962
Foreclosed properties		465			454			461			546			610
Non-performing assets (NPAs)	$	3,933		$	3,918		$	4,226		$	4,275		$	4,572
Loans past due > 90 days	$	527		$	585		$	593		$	612		$	700
Restructured loans not included in categories above	$	1,553		$	1,483		$	1,299		$	1,239		$	1,306
Credit Ratios:
ACL/Loans, net		4.01	%		3.93	%		3.86	%		3.79	%		3.69	%
ALL/Loans, net		3.92	%		3.84	%		3.77	%		3.71	%		3.61	%
Allowance for loan losses to non-performing loans, excluding loans held for sale		1.03x			1.01x			0.94x			0.92x			0.86x
NPAs (ex. 90+ past due)/Loans, foreclosed properties and non-performing loans held for sale (2)		4.78	%		4.69	%		4.96	%		4.93	%		5.13	%
NPAs (inc. 90+ past due)/Loans, foreclosed properties and non-performing loans held for sale (2)		5.42	%		5.38	%		5.65	%		5.63	%		5.92	%

(1) See page 20 for detail of restructured loans.

(2) Beginning in the first quarter of 2011, non-performing assets ratios include non-performing loans held for sale in the denominator, in addition to portfolio loans and foreclosed properties. Prior quarters have been revised to conform to current period presentation.

Allowance for Credit Losses

($ amounts in millions)	Three Months Ended March 31
	2011			2010
Balance at beginning of year	$	3,256		$	3,188
Net loans charged-off		(481	)		(700	)
Provision for loan losses		482			770
Provision for unfunded credit commitments		7			(8	)
Balance at end of period	$	3,264		$	3,250
Components:
Allowance for loan losses	$	3,186		$	3,184
Reserve for unfunded credit commitments		78			66
Allowance for credit losses	$	3,264		$	3,250

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 12

Loan Portfolio - Period End Data

	1Q2011					4Q2010					3Q2010					2Q2010					1Q2010
($ millions)	$		% Total			$		% Total			$		% Total			$		% Total			$		% Total
Commercial and Industrial		23,149		28.5	%		22,540		27.2	%		21,501		25.5	%		21,096		24.6	%		21,220		24.1	%
Commercial Real Estate Mortgage - OO		11,889		14.6	%		12,046		14.5	%		11,850		14.0	%		11,967		13.9	%		12,028		13.6	%
Commercial Real Estate Construction - OO		430		0.5	%		470		0.6	%		522		0.6	%		547		0.6	%		598		0.7	%
Total Commercial		35,468		43.6	%		35,056		42.3	%		33,873		40.1	%		33,610		39.1	%		33,846		38.4	%
Commercial Investor Real Estate Mortgage		12,932		15.9	%		13,621		16.4	%		14,489		17.2	%		15,152		17.6	%		15,702		17.8	%
Commercial Investor Real Estate Construction		1,895		2.3	%		2,287		2.8	%		2,975		3.5	%		3,778		4.4	%		4,703		5.3	%
Total Investor Real Estate		14,827		18.2	%		15,908		19.2	%		17,464		20.7	%		18,930		22.0	%		20,405		23.1	%
Residential First Mortgage		14,404		17.7	%		14,898		18.0	%		15,723		18.6	%		15,567		18.1	%		15,592		17.7	%
Home Equity		13,874		17.1	%		14,226		17.2	%		14,534		17.2	%		14,802		17.2	%		15,066		17.1	%
Direct		836		1.0	%		838		1.0	%		828		1.0	%		799		0.9	%		774		0.9	%
Indirect		1,626		2.0	%		1,592		1.9	%		1,657		2.0	%		1,900		2.2	%		2,162		2.5	%
Other Consumer		336		0.4	%		346		0.4	%		341		0.4	%		337		0.4	%		329		0.4	%
Total Consumer		31,076		38.2	%		31,900		38.5	%		33,083		39.2	%		33,405		38.9	%		33,923		38.5	%
Total Loans		81,371		100.0	%		82,864		100.0	%		84,420		100.0	%		85,945		100.0	%		88,174		100.0	%

OO = Owner Occupied

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90+ Days Past Due Loans

	1Q2011					4Q2010					3Q2010					2Q2010					1Q2010
($ millions)	$		%			$		%			$		%			$		%			$		%
Commercial and Industrial		10		0.04	%		9		0.04	%		5		0.03	%		7		0.03	%		24		0.11	%
Commercial Real Estate Mortgage - OO		8		0.07	%		6		0.05	%		6		0.05	%		4		0.04	%		6		0.05	%
Commercial Real Estate Construction - OO		—		0.09	%		1		0.12	%		—		0.00	%		—		0.00	%		—		0.00	%
Total Commercial		18		0.05	%		16		0.05	%		11		0.03	%		11		0.03	%		30		0.09	%
Commercial Investor Real Estate Mortgage		13		0.10	%		5		0.04	%		6		0.04	%		26		0.17	%		42		0.27	%
Commercial Investor Real Estate Construction		1		0.04	%		1		0.04	%		2		0.05	%		4		0.10	%		6		0.14	%
Total Investor Real Estate		14		0.09	%		6		0.04	%		8		0.04	%		30		0.16	%		48		0.24	%
Residential First Mortgage		315		2.18	%		359		2.41	%		369		2.35	%		349		2.24	%		365		2.34	%
Home Equity		174		1.26	%		198		1.39	%		198		1.36	%		215		1.45	%		249		1.65	%
Direct		1		0.13	%		1		0.13	%		2		0.21	%		1		0.14	%		1		0.17	%
Indirect		2		0.13	%		2		0.13	%		2		0.14	%		3		0.12	%		3		0.16	%
Other Consumer		3		0.86	%		3		0.88	%		3		0.79	%		3		0.90	%		4		1.20	%
Total Consumer		495		1.59	%		563		1.76	%		574		1.74	%		571		1.71	%		622		1.83	%
Total 90+ Days Past Due Loans		527		0.65	%		585		0.71	%		593		0.70	%		612		0.71	%		700		0.79	%

OO = Owner Occupied

Business Services Credit Quality

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Non-Accrual Loans (excludes loans held for sale)

	1Q2011					4Q2010					3Q2010					2Q2010					1Q2010
($ millions)	$		%			$		%			$		%			$		%			$		%
Total Commercial & Industrial		446		1.93	%		467		2.07	%		502		2.33	%		479		2.27	%		517		2.43	%
Total Commercial Real Estate Mortgage - OO		648		5.45	%		606		5.03	%		616		5.20	%		680		5.68	%		623		5.18	%
Total Commercial Real Estate Construction - OO		31		7.20	%		29		6.19	%		35		6.65	%		37		6.77	%		38		6.47	%
Total Commercial		1,125		3.17	%		1,102		3.14	%		1,153		3.40	%		1,196		3.56	%		1,178		3.48	%
Total Commercial Investor Real Estate Mortgage		1,142		8.83	%		1,265		9.28	%		1,347		9.30	%		1,286		8.49	%		1,343		8.55	%
Total Commercial Investor Real Estate Construction		448		23.64	%		452		19.76	%		561		18.87	%		754		19.94	%		986		20.97	%
Total Investor Real Estate		1,590		10.73	%		1,717		10.79	%		1,908		10.93	%		2,040		10.77	%		2,329		11.41	%
Residential First Mortgage		303		2.10	%		285		1.92	%		267		1.70	%		212		1.36	%		199		1.28	%
Home Equity		69		0.50	%		56		0.40	%		44		0.30	%		25		0.17	%		—		0.00	%
Direct		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%
Indirect		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%
Other Consumer		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%		—		0.00	%
Total Consumer		372		1.20	%		341		1.07	%		311		0.94	%		237		0.71	%		199		0.59	%
Total Non-Accrual Loans		3,087		3.79	%		3,160		3.81	%		3,372		3.99	%		3,473		4.04	%		3,706		4.20	%

OO = Owner Occupied

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Troubled Debt Restructurings

in millions	1Q11		4Q10		3Q10		2Q10		1Q10
Accruing:
Commercial		72		77		23		24		27
Investor Real Estate		208		192		150		22		21
Residential First Mortgage		854		813		746		836		927
Home Equity		355		335		314		295		274
Other Consumer		64		66		66		62		57
Total Accruing		1,553		1,483		1,299		1,239		1,306
Non-accrual or 90+ DPD:
Commercial		120		105		71		34		29
Investor Real Estate		230		198		159		99		110
Residential First Mortgage		221		240		222		217		216
Home Equity		28		30		26		26		24
Other Consumer		1		—		—		—		—
Total Non-accrual or 90+DPD		600		573		478		376		379
Total TDR		2,153		2,056		1,777		1,615		1,685

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Home Equity Lending Net Charge-off Analysis

		1Q11									4Q10									3Q10									2Q10									1Q10
($ in millions)		1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total			1st Lien			2nd Lien			Total
Florida	Net Charge-off %*		3.10	%		6.79	%		5.33	%		2.26	%		6.46	%		4.81	%		2.37	%		6.83	%		5.09	%		3.12	%		7.10	%		5.57	%		2.92	%		7.96	%		6.04	%
	$ Losses	$	15.7		$	52.2		$	67.9		$	11.9		$	52.2		$	64.2		$	12.6		$	56.6		$	69.2		$	16.5		$	59.7		$	76.2		$	15.4		$	68.2		$	83.6
	Balance	$	2,040.5		$	3,067.4		$	5,107.9		$	2,074.3		$	3,166.4		$	5,240.7		$	2,090.0		$	3,253.6		$	5,343.6		$	2,098.0		$	3,333.3		$	5,431.3		$	2,126.5		$	3,424.9		$	5,551.4
	Original LTV		65.1	%		75.6	%		71.4	%
All Other States	Net Charge-off %*		0.65	%		1.64	%		1.18	%		0.75	%		1.60	%		1.21	%		0.98	%		1.71	%		1.38	%		0.75	%		1.67	%		1.26	%		0.74	%		1.85	%		1.35	%
	$ Losses	$	6.6		$	19.4		$	26.0		$	7.9		$	19.8		$	27.7		$	10.5		$	21.8		$	32.3		$	8.0		$	21.6		$	29.6		$	7.9		$	24.0		$	31.9
	Balance	$	4,059.9		$	4,706.5		$	8,766.4		$	4,138.7		$	4,846.2		$	8,984.9		$	4,187.6		$	5,002.4		$	9,190.0		$	4,250.3		$	5,120.4		$	9,370.7		$	4,306.0		$	5,208.4		$	9,514.4
	Original LTV		66.8	%		79.3	%		73.4	%
Totals	Net Charge-off %*		1.47	%		3.68	%		2.71	%		1.26	%		3.52	%		2.53	%		1.45	%		3.72	%		2.74	%		1.53	%		3.81	%		2.84	%		1.46	%		4.27	%		3.07	%
	$ Losses	$	22.3		$	71.6		$	93.9		$	19.8		$	72.1		$	91.9		$	23.1		$	78.4		$	101.5		$	24.5		$	81.3		$	105.8		$	23.3		$	92.2		$	115.5
	Balance	$	6,100.4		$	7,773.9		$	13,874.3		$	6,213.0		$	8,012.6		$	14,225.6		$	6,277.6		$	8,256.0		$	14,533.6		$	6,348.3		$	8,453.7		$	14,802.0		$	6,432.5		$	8,633.3		$	15,065.8
	Original LTV		66.2	%		77.8	%		72.6	%

* 22% Florida second lien concentration driving results

* Second lien, Florida net charge-offs represent 56% of 1Q11 net charge-offs but just 22% of outstanding balances.

* Net charge-offs in Florida approximately 4.5 times non-Florida net charge-off rate

* Origination quality solid with an average FICO of 775 and an average LTV of 63%; Property value declines driving losses

Notes:	*Recoveries are pro-rated based on charge-off balances.
	*Balances shown on an ending basis. Net loss rates calculated using average balances
	*Original LTVs shown for current period only; prior period LTVs not materially different

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(in millions)	1Q10		2Q10			3Q10			4Q10			1Q11
Net Charge-offs
Investor Real Estate (IRE)	$	257	$	216		$	205		$	205		$	84
Commercial		128		117			143			197			126
Consumer Real Estate		177		167			160			148			150
Other Consumer		28		19			18			21			15
Net Charge-offs excluding charge-offs from Sales / Transfers to HFS		590		519			526			571			375
Sales/Transfer to HFS		110		132			233			111			106
Total Net Charge-offs	$	700	$	651		$	759		$	682		$	481
Net Loss / (Gain) - HFS Sales		6		(9	)		(2	)		(7	)		—
HFS Write-downs(1)		10		5			7			21			2
OREO expense		42		40			65			61			39
Total Credit Costs	$	758	$	687		$	829		$	757		$	522

⁽¹⁾  Reflects write-downs subsequent to initial move to held for sale and write-downs upon transfer to OREO

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PAGE 23

Gross and Net NPA Migration Elevated

($ in millions)	1Q 2010			2Q 2010			3Q 2010			4Q 2010			1Q 2011
Beginning Non-Performing Assets¹	$	4,412		$	4,572		$	4,275		$	4,226		$	3,918
Additions	$	1,303		$	865		$	1,410		$	1,021		$	816
Resolutions2		(182	)		(197	)		(255	)		(348	)		(214	)
Charge-Offs / OREO Write-Downs		(473	)		(458	)		(497	)		(576	)		(368	)
Net Additions	$	648		$	210		$	658		$	97		$	234
Non-Accrual Asset Sales		(386	)		(336	)		(511	)		(309	)		(106	)
OREO Sales		(102	)		(171	)		(196	)		(96	)		(113	)
Ending Non-Performing Assets¹	$	4,572		$	4,275		$	4,226		$	3,918		$	3,933
Change Versus Previous Quarter	$	160			($297	)		($49	)		($308	)	$	15

¹  Includes Loans Held for Sale

² Includes payments and returned to accruals

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PAGE 24

Additional Financial and Operational Data

	3/31/11		12/31/10		9/30/10		6/30/10		3/31/10
Associate headcount		27,557		27,829		27,898		27,895		28,213
Total branch outlets		1,771		1,772		1,774		1,774		1,774
ATMs		2,144		2,148		2,150		2,162		2,198
Morgan Keegan offices		319		321		329		325		321

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Reconciliation to GAAP Financial Measures

The table below presents computations of earnings and certain other financial measures excluding regulatory charge (non-GAAP). The regulatory charge is included in financial results presented in accordance with generally accepted accounting principles (GAAP). Regions believes that the exclusion of the regulatory charge in expressing earnings and certain other financial measures, including “earnings (loss) per common share, excluding regulatory charge”, “return on average assets, excluding regulatory charge” and “return on average tangible common stockholders’ equity, excluding regulatory charge” (explained on next page) provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business, because management does not consider the regulatory charge to be relevant to ongoing operating results. Management and the Board of Directors utilize these non-GAAP financial measures for the following purposes: preparation of Regions’ operating budgets; monthly financial performance reporting; monthly close-out “flash” reporting of consolidated results (management only); and presentations to investors of company performance. Regions believes that presenting these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management and the Board of Directors. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. To mitigate these limitations, Regions has policies and procedures in place to identify and address expenses that qualify for non-GAAP presentation, including authorization and system controls to ensure accurate period to period comparisons. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes the regulatory charge does not represent the amount that effectively accrues directly to stockholders (i.e. the regulatory charge is a reduction in earnings and stockholders’ equity).

		As of and for Quarter Ended
		03/31/11			12/31/10			09/30/10			06/30/10			03/31/10
($ amounts in millions, except per share data)
Income (loss):
Net income (loss) (GAAP)		$	69		$	89		$	(155	)	$	(277	)	$	(196	)
Preferred dividends and accretion (GAAP)			(52	)		(53	)		(54	)		(58	)		(59	)
Net income (loss) available to common shareholders (GAAP)	A	$	17		$	36		$	(209	)	$	(335	)	$	(255	)
Net income (loss) available to common shareholders (GAAP)		$	17		$	36		$	(209	)	$	(335	)	$	(255	)
Regulatory charge, net of tax			—			—			—			200			—
Net income (loss) available to common shareholders, excluding regulatory charge (non-GAAP)	B	$	17		$	36		$	(209	)	$	(135	)	$	(255	)
Weighted-average diluted shares	C		1,259			1,259			1,257			1,200			1,194
Earnings (loss) per common share - diluted (GAAP)	A/C		0.01			0.03			(0.17	)		(0.28	)		(0.21	)
Earnings (loss) per common share, excluding regulatory charge - diluted (non-GAAP)	B/C		0.01			0.03			(0.17	)		(0.11	)		(0.21	)

The table below presents computations of the efficiency ratio (non-GAAP), which is a measure of productivity, generally calculated as non-interest expense divided by total revenue. Management uses the efficiency ratio to monitor performance and believes this measure provides meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the efficiency ratio. Net interest income on a fully taxable-equivalent basis (GAAP) and non-interest income (GAAP) are added together to arrive at total revenue (GAAP). Adjustments are made to arrive at adjusted total revenue (non-GAAP), which is the denominator for the efficiency ratio. Regions believes that the exclusion of these adjustments provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.

		As of and for Quarter Ended
		03/31/11			12/31/10			09/30/10			06/30/10			03/31/10
($ amounts in millions)
Non-interest expense (GAAP)		$	1,167		$	1,266		$	1,163		$	1,326		$	1,230
Adjustments:
Regulatory charge, net of tax			—			—			—			(200	)		—
Loss on extinguishment of debt			—			(55	)		—			—			(53	)
Securities impairment, net			—			—			(1	)		—			(1	)
Branch consolidation costs			—			—			—			—			(8	)
Adjusted non-interest expense (non-GAAP)	D	$	1,167		$	1,211		$	1,162		$	1,126		$	1,168
Net interest income, taxable-equivalent basis (GAAP)		$	872		$	886		$	876		$	863		$	839
Non-interest income (GAAP)			843			1,213			750			756			812
Adjustments:
Securities gains, net			(82	)		(333	)		(2	)		—			(59	)
Leveraged lease termination gains			—			(59	)		—			—			(19	)
Loss (gain) on sale of mortgage loans			3			(26	)		—			—			—
Adjusted non-interest income (non-GAAP)			764			795			748			756			734
Adjusted total revenue (non-GAAP)	E	$	1,636		$	1,681		$	1,624		$	1,619		$	1,573
Efficiency ratio (non-GAAP)	D/E		71.3	%		72.0	%		71.6	%		69.5	%		74.3	%

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Reconciliation to GAAP Financial Measures

The following tables provide calculations of “return on average tangible common stockholders’ equity”, end of period “tangible common stockholders’ equity” ratios and a reconciliation of stockholders’ equity (GAAP) to Tier 1 capital (regulatory) and to “Tier 1 common equity” (non-GAAP). Tangible common stockholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Traditionally, the Federal Reserve and other banking regulatory bodies have assessed a bank’s capital adequacy based on Tier 1 capital, the calculation of which is codified in federal banking regulations. In connection with the Supervisory Capital Assessment Program (“SCAP”), these regulators began supplementing their assessment of the capital adequacy of a bank based on a variation of Tier 1 capital, known as Tier 1 common equity. While not codified, analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity and/or the Tier 1 common equity measure. Because tangible common stockholders’ and Tier 1 common equity are not formally defined by GAAP or codified in the federal banking regulations, these measures are considered to be non-GAAP financial measures and other entities may calculate them differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity and Tier 1 common equity, we believe that it is useful to provide investors the ability to assess Regions’ capital adequacy on these same bases.

Tier 1 common equity is often expressed as a percentage of risk-weighted assets. Under the risk-based capital framework, a company’s balance sheet assets and credit equivalent amounts of off-balance sheet items are assigned to one of four broad risk categories. The aggregated dollar amount in each category is then multiplied by the risk-weighted category. The resulting weighted values from each of the four categories are added together and this sum is the risk-weighted assets total that, as adjusted, comprises the denominator of certain risk-based capital ratios. Tier 1 capital is then divided by this denominator (risk-weighted assets) to determine the Tier 1 capital ratio. Adjustments are made to Tier 1 capital to arrive at Tier 1 common equity. Tier 1 common equity is also divided by the risk-weighted assets to determine the Tier 1 common equity ratio. The amounts disclosed as risk-weighted assets are calculated consistent with banking regulatory requirements.

		As of and for Quarter Ended
		03/31/11			12/31/10			09/30/10			06/30/10			03/31/10
($ amounts in millions, except per share data)
RETURN ON AVERAGE ASSETS
Average assets (GAAP)	F	$	131,212		$	133,334		$	133,729		$	137,285		$	139,565
Return on average assets (GAAP) (1)	A/F		0.05	%		0.11	%		-0.62	%		-0.98	%		-0.74	%
Return on average assets, excluding regulatory charge (non-GAAP) (1)	B/F		0.05	%		0.11	%		-0.62	%		-0.40	%		-0.74	%
RETURN ON AVERAGE TANGIBLE COMMON STOCKHOLDERS’ EQUITY
Average stockholders’ equity (GAAP)		$	16,684		$	17,046		$	17,382		$	17,559		$	17,798
Less: Average intangible assets (GAAP)			5,935			5,961			5,989			6,019			6,046
Average deferred tax liability related to intangibles (GAAP)			(237	)		(243	)		(250	)		(257	)		(265	)
Average preferred equity (GAAP)			3,383			3,374			3,364			3,576			3,605
Average tangible common stockholders’ equity (non-GAAP)	G	$	7,603		$	7,954		$	8,279		$	8,221		$	8,412
Return on average tangible common stockholders’ equity (GAAP) (1)	A/G		0.89	%		1.78	%		-10.00	%		-16.36	%		-12.29	%
Return on average tangible common stockholders’ equity, excluding regulatory charge (non-GAAP) (1)	B/G		0.89	%		1.78	%		-10.00	%		-6.60	%		-12.29	%
TANGIBLE COMMON RATIOS
Stockholders’ equity (GAAP)		$	16,619		$	16,734		$	17,163		$	17,463		$	17,638
Less: Preferred equity (GAAP)			3,389			3,380			3,370			3,360			3,610
Intangible assets (GAAP)			5,919			5,946			5,975			6,004			6,031
Deferred tax liability related to intangibles (GAAP)			(233	)		(240	)		(246	)		(253	)		(261	)
Tangible common stockholders’ equity (non-GAAP)	H	$	7,544		$	7,648		$	8,064		$	8,352		$	8,258
Total assets (GAAP)		$	131,756		$	132,351		$	133,498		$	135,340		$	137,230
Less: Intangible assets (GAAP)			5,919			5,946			5,975			6,004			6,031
Deferred tax liability related to intangibles (GAAP)			(233	)		(240	)		(246	)		(253	)		(261	)
Tangible assets (non-GAAP)	I	$	126,070		$	126,645		$	127,769		$	129,589		$	131,460
Shares outstanding—end of quarter	J		1,256			1,256			1,256			1,256			1,192
Tangible common stockholders’ equity to tangible assets (non-GAAP)	H/I		5.98	%		6.04	%		6.31	%		6.45	%		6.28	%
Tangible common book value per share (non-GAAP)	H/J	$	6.00		$	6.09		$	6.42		$	6.65		$	6.93
TIER 1 COMMON RISK-BASED RATIO (2)
Stockholders’ equity (GAAP)		$	16,619		$	16,734		$	17,163		$	17,463		$	17,638
Accumulated other comprehensive (income) loss			387			260			(208	)		(306	)		(144	)
Non-qualifying goodwill and intangibles			(5,686	)		(5,706	)		(5,729	)		(5,752	)		(5,771	)
Disallowed deferred tax assets			(463	)		(424	)		(427	)		(443	)		(932	)
Disallowed servicing assets			(28	)		(27	)		(20	)		(22	)		(27	)
Qualifying non-controlling interests			92			92			92			92			91
Qualifying trust preferred securities			846			846			846			846			846
Tier 1 capital (regulatory)		$	11,767		$	11,775		$	11,717		$	11,878		$	11,701
Qualifying non-controlling interests			(92	)		(92	)		(92	)		(92	)		(91	)
Qualifying trust preferred securities			(846	)		(846	)		(846	)		(846	)		(846	)
Preferred stock			(3,389	)		(3,380	)		(3,370	)		(3,360	)		(3,610	)
Tier 1 common equity (non-GAAP)	K	$	7,440		$	7,457		$	7,409		$	7,580		$	7,154
Risk-weighted assets (regulatory)	L		94,068			94,966			97,088			98,653			100,323
Tier 1 common risk-based ratio (non-GAAP)	K/L		7.9	%		7.9	%		7.6	%		7.7	%		7.1	%

(1) Income statement amounts have been annualized in calculation

(2) Current quarter amount and the resulting ratio is estimated

FINANCIAL SUPPLEMENT TO

FIRST QUARTER 2011 EARNINGS RELEASE

PAGE 27

Forward-Looking Statements

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

• The Dodd-Frank Wall Street Reform and Consumer Protection Act became law on July 21, 2010 and a number of legislative, regulatory and tax proposals remain pending. Additionally, the U.S. Treasury and federal banking regulators continue to implement, but are also beginning to wind down, a number of programs to address capital and liquidity issues in the banking system. Proposed rules, including those that are part of the Basel III process, could require banking institutions to increase levels of capital. All of the foregoing may have significant effects on Regions and the financial services industry, the exact nature of which cannot be determined at this time.

• The impact of compensation and other restrictions imposed under the Troubled Asset Relief Program (“TARP”) until Regions repays the outstanding preferred stock and warrant issued under TARP including restrictions on Regions’ ability to attract and retain talented executives and associates.

• Possible additional loan losses, impairment of goodwill and other intangibles, and adjustment of valuation allowances on deferred tax assets and the impact on earnings and capital.

• Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins. Increases in benchmark interest rates would also increase debt service requirements for customers whose terms include a variable interest rate, which may negatively impact the ability of borrowers to pay as contractually obligated.

• Possible changes in general economic and business conditions in the United States in general and in the communities Regions serves in particular, including any prolonging or worsening of the current unfavorable economic conditions, including unemployment levels.

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

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

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

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

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

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

• Regions’ ability to keep pace with technological changes.

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

• Regions’ ability to ensure adequate capitalization which is impacted by inherent uncertainties in forecasting credit losses.

• The cost and other effects of material contingencies, including litigation contingencies and any adverse judicial, administrative or arbitral rulings or proceedings.

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

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

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

• The effects of weather and of natural disasters such as floods, droughts and hurricanes and the effects of man-made disasters such as the Gulf of Mexico oil spill.

• Possible downgrades in ratings issued by rating agencies

• Potential dilution of holders of shares of Regions’ common stock resulting from the U.S. Treasury’s investment in TARP.

• Possible changes in the speed of loan prepayments by Regions’ customers and loan origination or sales volumes.

• Possible acceleration of prepayments on mortgage-backed securities due to low interest rates and the related acceleration of premium amortization on those securities.

• The effects of problems encountered by larger or similar financial institutions that adversely affect Regions or the banking industry generally.

• Regions’ ability to receive dividends from its subsidiaries.

• The effects of the failure of any component of Regions’ business infrastructure which is provided by a third party.

• Changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or other regulatory agencies.

• The effects of any damage to Regions’ reputation resulting from developments related to any of the items identified above.

The words “believe,” “expect,” “anticipate,” “project,” and similar expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. We assume no obligation to update or revise any forward-looking statements that are made from time to time.

The foregoing list of factors is not exhaustive; for discussion of these and other risks that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2010 as on file with the Securities and Exchange Commission.

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