Regions Bank 2009 Annual Report Download - page 4
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OPERATING IN A CHANGING
INDUSTRY LANDSCAPE
The fi rst half of 2009 was marked by
legislative and regulatory responses to the
continuing credit crisis. The government
continued to defi ne the implications of
the Troubled Asset Relief Program. And,
regulators took steps to ensure that the
largest banks – Regions included – had
suffi cient capital to withstand larger than
expected losses.
The second half of the year was marked by
uncertainty about how regulation would
be reformed to address the causes of the
crisis and consumer concerns. Throughout
the year, we monitored and addressed
the government’s actions and met our
regulators’ stress test requirements. We’ve
been focused on improving customer
satisfaction, reducing credit exposure,
increasing customer retention, and
building deposits and new relationships.
We believe that regulatory reform is
appropriate and necessary. We support
improvements that strengthen our industry
and protect the fi nancial needs of our
customers. Ultimately, we recognize that
it is our responsibility to manage our own
risks and act in the best interests of our
customers. To this end, we will continue
to protect Regions’ future by implementing
best-in-class risk management practices
and delivering the very best customer
experience. Regardless of the fi nal shape
of regulatory reform, we will be proactive
in anticipating and responding to these
changes as appropriate.
We remain committed to continuing to
help drive the U.S. economic recovery. At
Regions, we are lending. Our lending track
record in 2009 is proof positive of this
fact. Regions is doing its part to advance
the economic recovery by extending credit
to consumers and to businesses. Last year,
we committed $65 billion in new and
renewed loans – that’s about $250 million
every business day. Moreover, through
our Customer Assistance Program, we
worked with more than 23,500 mortgage
customers so they could keep their homes.
Our residential foreclosure rate is less than
half the national average. To us, that’s
more than just a number. It means giving
families a chance to stay in their homes
and an opportunity to regain a more
stable fi nancial footing.
We’ve been focused on improving
customer satisfaction, reducing
credit exposure, increasing
customer retention, and building
deposits and new relationships.
MESSAGE FROM C. DOWD RITTER
REGIONS 2009 ANNUAL REPORT
2