Regions Bank 2013 Annual Report Download - page 13

REGIONS 2013 YEAR IN REVIEW 11
customers visit one at least once a month. These metrics
underscore the continued relevance of a physical point of
presence in the communities we serve.
It is appropriate that we periodically evaluate our branch
channel and rationalize those assets as necessary, and
that work continued in 2013. Efforts are also underway
to evaluate ways to make our branches more efficient by
leveraging new technology and process improvement.
Our focus on product innovation and creating shared value
also underpin Now Banking, a suite of solutions aligned
with the needs of nontraditional, underserved customers.
Customers who lack traditional banking relationships often
encounter high fees and inadequate service. To address
that need, we developed Now Banking to offer nontraditional
customers simple, affordable solutions. Product options
include a reloadable debit card, check cashing, electronic
bill payment and money transfer services. Customer
response has been strong; in 2013 we grew Now Banking
households by 26 percent. Our associates will work to
expand relationships with our Now Banking customers as
their needs and circumstances evolve into more traditional
banking products.
The people-based nature of our business also means that
the quality of each customer’s experience is very important
if we are to successfully execute Regions360 and build new
customer relationships. Each year our research studies
conducted by the Gallup Organization measure our success
and identify areas for improvement. Making positive change
requires not only assessment but also accountability.
Our leaders work closely with their direct reports to drive
continuous improvement. I am pleased with the great
progress our team has made in raising our service
quality and personal loyalty measures. Ensuring that
every interaction with every Regions customer is positive
and responsive will remain an important priority as we
move forward.
Creating Shared Value in our Communities
We understand that Regions can only be as strong as the
communities we serve. That’s why we have a strong culture
of community engagement. Our approach to creating
shared value in the communities we serve is an extension
of that culture, and it directs us to act in ways that build
prosperity and opportunity in all the geographic areas we
touch. Whether providing necessary capital for affordable
housing in an underserved community, offering expertise
and support to expand the capacity of a nonprofit charity
or leveraging the tremendous human capital of our
24,000-plus associates through volunteerism, Regions is
strengthening its commitment to build community value.
As a financial institution, we also embrace the opportunity
to help consumers make better-informed decisions about
their financial futures. We recognize that there are two
parts to that equation. As a provider of financial services,
we have the responsibility to make our solutions simple
and straightforward. And consumers need clear, objective
information about the options available in the financial
marketplace in order to make smart financial decisions.
To help strengthen that understanding, we support financial
literacy and consumer education programs — especially
those that reach young people. In 2013 our efforts reached
over 3,000 students and 370,000 customers — work that
builds community value in a very important way.
Building the Best Team —
The Key to Our Continued Success
We look to the future with confidence that Regions has
the right purpose, mission and strategy to continue to
build long-term value for our shareholders and all our
stakeholders. Our strategy is a simple one, focused on
back-to-basics banking and effective execution — by a
strong team — is the key to achieving continued success.
We are well on the way toward fulfilling our objective to
build one of the best teams in the industry. Associate
engagement has increased significantly, and we are
working hard to raise it further still. Today, we are attracting
some of the brightest, most capable talent in our field to
the organization. Our strong team is getting stronger.
Perhaps most importantly, my conversations with associates
reveal a tangible excitement and a new pride about this
company’s commitment to creating shared value and how
it supports a sustainable future for ourselves and for the
others we touch. Their enthusiasm and dedication will
continue to fuel our positive momentum to building a very
unique and successful organization.
I am grateful to each of them, to our Board of Directors,
to our partners and suppliers and, importantly, to our
customers and to our shareholders, for their ongoing
confidence and support.
Sincerely,
Grayson Hall
Chairman, President and Chief Executive Officer
March 11, 2014