Regions Financial Corporation Announces $350 Million Common Stock Repurchase Program
The Regions Financial Corporation (NYSE:RF) Board of Directors has
authorized an equity repurchase program for up to $350 million of the
company’s common stock. This action is a component of the company’s
capital plan that was not objected to by the Federal Reserve as part of
its 2013 Comprehensive Capital Analysis and Review (CCAR).
The authority granted under the repurchase program expires on March 31,
2014. The timing and exact amount of common stock repurchases will
depend on various factors, including market conditions, the company’s
capital position and internal capital generation. The repurchase program
does not include specific price targets, may be executed through open
market purchases, accelerated share repurchase transactions or privately
negotiated transactions, including utilizing Rule 10b5-1 programs, and
may be suspended at any time.
About Regions Financial Corporation
Regions Financial Corporation, with $121 billion in assets, is a member
of the S&P 500 Index and is one of the nation’s largest full-service
providers of consumer and commercial banking, wealth management,
mortgage, and insurance products and services. Regions serves customers
in 16 states across the South, Midwest and Texas, and through its
subsidiary, Regions Bank, operates approximately 1,700 banking offices
and 2,000 ATMs. Additional information about Regions and its full line
of products and services can be found at www.regions.com.
