Regions Bank 2008 Annual Report Download - page 13

Other Financial Services Operations
In addition to its banking operations, Regions provides additional financial services through the following
subsidiaries:
Morgan Keegan & Company, Inc. (“Morgan Keegan”), a subsidiary of Regions Financial Corporation, is a
full-service regional brokerage and investment banking firm. Morgan Keegan offers products and services
including securities brokerage, asset management, financial planning, mutual funds, securities underwriting, sales
and trading, and investment banking. Morgan Keegan also manages the delivery of trust services, which are
provided pursuant to the trust powers of Regions Bank. Morgan Keegan, one of the largest investment firms in
the South, employs over 1,200 financial advisors offering products and services from over 300 offices located in
Alabama, Arkansas, Florida, Georgia, Illinois, Kentucky, Louisiana, Massachusetts, Mississippi, New York,
North Carolina, South Carolina, Tennessee, Texas and Virginia.
Regions Insurance Group, Inc., a subsidiary of Regions Financial Corporation, is an insurance broker that
offers insurance products through its subsidiaries Regions Insurance, Inc. (formerly Rebsamen Insurance, Inc.),
headquartered in Little Rock, Arkansas, and Regions Insurance Services, Inc., headquartered in Memphis,
Tennessee. Through its insurance brokerage operations in Alabama, Arkansas, Indiana, Louisiana, Missouri,
Mississippi, Tennessee and Texas, Regions Insurance, Inc. offers insurance coverage for various lines of personal
and commercial insurance, such as property, casualty, life, health and accident insurance. Regions Insurance
Services, Inc. offers credit-related insurance products, such as title, term life, credit life, environmental, crop and
mortgage insurance, as well as debt cancellation products to customers of Regions. With $117.1 million in
annual revenues and 27 offices in eight states, Regions Insurance Group, Inc. is one of the largest insurance
brokers in the United States.
Regions has several subsidiaries and affiliates which are agents or reinsurers of credit life insurance
products relating to the activities of certain affiliates of Regions.
Regions Equipment Finance Corporation, a subsidiary of Regions Bank, provides domestic and international
equipment financing products, focusing on commercial clients.
Acquisition Program
A substantial portion of the growth of Regions from its inception as a bank holding company in 1971 has
been through the acquisition of other financial institutions, including commercial banks and thrift institutions,
and the assets and deposits of those financial institutions. As part of its ongoing strategic plan, Regions
continually evaluates business combination opportunities. Any future business combination or series of business
combinations that Regions might undertake may be material, in terms of assets acquired or liabilities assumed, to
Regions’ financial condition. Historically, business combinations in the financial services industry have typically
involved the payment of a premium over book and market values. This practice could result in dilution of book
value and net income per share for the acquirer.
Segment Information
Reference is made to Note 24 “Business Segment Information” to the consolidated financial statements
included under Item 8. of this Annual Report on Form 10-K for information required by this item.
Supervision and Regulation
Regions and its subsidiaries are subject to the extensive regulatory framework applicable to bank holding
companies and their subsidiaries. Regulation of financial institutions such as Regions and its subsidiaries is
intended primarily for the protection of depositors, the deposit insurance fund of the Federal Deposit Insurance
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