Regions Bank 2008 Annual Report Download - page 6
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Associates are focused on building stronger,
broader customer relationships. To make
this goal a reality, we will work to establish
primary banking relationships with our
customers through the cross-selling of
products and services and growing deposits
and fee-based revenue. And, of course, we
will continue delivering the kind of high
service quality that differentiates us from
our competitors.
You can also count on us to do what is right
for the communities we serve. Over the
past year, we reached out to over 100,000
residential fi rst mortgage and home equity
customers to help them avoid hardship.
Through our Customer Assistance Program,
we took steps to renegotiate the terms of
mortgages, keeping families in their homes.
This program not only helps our customers,
but it also allows Regions to maintain
a foreclosure rate that is about half the
national average.
Regions associates — more than 30,000
of them — come to work each day with
a purpose to serve our customers. Each of
them understands that while we may not be
able to control the economy, we can focus
on our customers and strive for performance
excellence. They also understand that
delivering shareholder value and service
quality begins by assisting the customer
in front of them — helping them fi nd the
account or service that will keep or make
Regions that customer’s primary banking
relationship. Regions’ associates support
our commitment to make life better for all
of our stakeholders, as well as our
commitment to maintain high ethical
standards in how we operate.
I thank our associates for their hard work
and commitment to our customers
and shareholders. I would also like to express
my gratitude to our Board of Directors
for their valued perspective during a year
that was sometimes diffi cult and always
challenging. Let us hope that unemployment
levels improve and housing values stabilize
in 2009, and that valuations for fi nancial
services stocks, especially Regions,
improve signifi cantly.
Finally, I thank our shareholders for
your confi dence, continuing support
and investment.
C. Dowd Ritter
Chairman, President and
Chief Executive Offi cer
– MESSAGE FROM C. DOWD RITTER –
4 REGIONS 2008 10-K
In spite of the credit crunch that has
accompanied the current economic
recession, Regions is committed
to working with customers to
meet their credit needs without
jeopardizing shareholder value.