Regions Bank 2008 Annual Report Download - page 39

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General Banking/Treasury
Regions’ primary business is providing traditional commercial, retail and mortgage banking services to its
customers. Regions’ banking subsidiary, Regions Bank, operates as an Alabama state-chartered bank with branch
offices in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi,
Missouri, North Carolina, South Carolina, Tennessee, Texas and Virginia. The Treasury function includes the
Company’s securities portfolio and other wholesale funding activities. In 2008, Regions’ general banking and
treasury operations reported a loss of approximately $5.6 billion, primarily the result of a $6.0 billion non-cash
goodwill impairment charge.
Investment Banking, Brokerage and Trust
Regions provides investment banking, brokerage and trust services in approximately 332 offices of Morgan
Keegan, a subsidiary of Regions and one of the largest investment firms based in the South. Morgan Keegan
contributed $128.3 million of income in 2008. Its lines of business include private client, retail brokerage
services, fixed-income capital markets, equity capital markets, trust, and asset management.
Insurance
Regions provides insurance-related services through Regions Insurance Group, Inc., a subsidiary of Regions
and a full-line insurance brokerage firm. Regions Insurance Group is one of the 25 largest insurance brokers in
the country. The insurance segment includes all business associated with insurance coverage for various lines of
personal and commercial insurance, such as property, casualty, life, health and accident insurance. The insurance
segment also offers credit-related insurance products, such as term life, credit life, environmental, crop and
mortgage insurance, as well as debt cancellation products to customers of Regions. Insurance activities
contributed approximately $20.1 million of income in 2008.
See Note 24 “Business Segment Information” to the consolidated financial statements for further
information on Regions’ business segments.
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