The organization that has been considered is the Regions Financial Corporation. The details of the organization as obtained in the Bank Holdings Company Performance Report are as follows:
RSSD Number: 3242838
Federal Reserve District: 6
Consolidated Assets ($000): 124,891,540
Peer Group Number: 1
Company Introduction and Activities:
With an aim to strengthening the financial activities in the United States, Regions Financial Corporation was established in the year 2014. It has its headquarters situated in Birmingham, Alabama.
The Company address of Regions Financial Corporation is mentioned as
1900 5th Avenue North
Birmingham, AL 35203
The official website of the company is http://www.regions.com. The industry in which the Company belongs to is regional and at the level of Southeast banks. The sector in which it has involvement is the financial sector. The total number of employees working under the institution are recorded as 23, 393.
With a network of itself and its subsidiaries, Regions Financial Corporation is mostly involved in providing banking as well as bank-related services to customers on individual and organizational level. This means that it has two tiers of customers in the United States: individuals and corporates. The corporate bank segment is an active member which has been offering banking services at the commercial scale which involves industries and commerce, real estates, lending to the investor real estate and financing activities for equipment lease. The service targets of this segment are corporates, small level businesses, real estate working at commercial levels, middle market and similar level investors and developers.
The other wing; the consumer segment on the other hand indulges in providing products and services of the consumer banking segment in relation to mortgages related to residential, lines and loans for home equity, loans for small businesses, credit cards of consumers and other loans at consumer level and deposit relationships at corresponding level. The wealth management section of the institution provides its clientele with products and services which help in the management of wealth. These services include products related to credit, management of investment and trust, management of asset, solutions for retirement and savings, planning at the estate level and products of commercial insurance which exist at the individual, business, government and non-profit institution levels. There is also provision of coverage of insurance for many lines of commercial and personal insurance services like that of life, casualties, property, accident and health related issues. There are also insurance products available for its customers, along with title, for crop, accidental death and other happenings, insurance related to environment, products of debt cancellation and financial products of commercial equipment. There are also products and services which assist in debt cancellation, for financing of commercial equipment and offering of insurance, securities and services that are advisory, by taking the help of financial consultants.
The area of operations of the Company is well spread. When we take the data of Dece,ber end in 2014, the Company had almost 1,997 ATMs being operated and almost 1,666 offices running in all the states like Alabama, Florida, Illinois, Texas, Arkansas, Indiana, Kentucky, Iowa, North Carolina, South Carolina, Mississippi, Louisiana, Virginia, Missouri and Tennessee.
Types of services offered:
There is high diversification in the services and products offered by the Company. It caters to the needs of almost all the classes and masses of people. It has extended its services from designing the products and services to consulting. It is indeed a great client that any client would love to get associated with; given the high range of products and services.
Regions Financial Corporation Subsidiaries:
The major subsidiary of Regions Financial Corporation is Regions Bank.
Cert Institution Name City County State Class Total Domestic Deposits ($000) Total Assets ($000)
12368 Regions Bank Birmingham Jefferson AL SM 98,130,989 123,859,106
The details on offices are:
Bank Branch Offices
Total Domestic Offices: 1642 Total Foreign Offices: 3
Total Offices: 1645 Primary Federal Regulator: Federal Reserve Board
There are twelve boards of directors in the organization. The head of the board is George W. Bryan, the Chief Executive Officer of the Company for the Old Waverly Properties and Carolyn H. Byrd, the Chief Executive Officer and Chairman for GlobalTech Financial. The large composition of the Board with mixture of both the genders denotes the high preference of the Company to diversifying its operations as well as people. The Board is an accumulation of strong individuals who have a fabulous background in handling operations and decision making so that the management and Board have been able to prove their worth continually.
There are fifteen members in the management Board. The varied backgrounds and competencies of the members of the management are reflected in the success of the Company which it has acquired in a short interval of time. The success in choosing the management, which ultimately looks after the operations of regions, is a reflection that the diversified management was the best decision for the Company to take. Because of the management competencies, even within a short span of time, it has been able to enter the Fortune 500 Companies, holding a record for Alabama companies. It is also the largest Company in the state as per Business Insider. With such high deposits and the diversified portfolio of products and services, the Company is bound to be looking for members of management who have good experience in the sector and are open to balancing new experiments and customer relations and satisfaction.
Companies can opt to get elected as a financial holding Company under the Bank Holding Company Act. Regional Financial Corporation has been elected as a financial holding Company.
This means that Regions Financial Corporation, as a financial holding Company is involved in providing its customers with non-banking activities which delivers the customers with a high range of services that are financial in nature. It also includes the opportunities for purchasing products of insurance and for investing widely in securities. This provision for Regions Financial Corporation has been maintained under Gramm-Leach-Bliley Act of 1999.
The regulating body for all the financial holding activities of the Company is the Federal Reserve Board. It regulates the Regions Financial Corporation, which makes an earning greater than 85% of the total gross income and it has divested itself into different types of nonfinancial businesses around 2014, which completes ten years of business operations of the Company.
Investopedia,. (2009). Financial Holding Company (FHC) Definition | Investopedia. Retrieved 12 February 2016, from http://www.investopedia.com/terms/f/financial-holding-company-fhc.asp
Ir.regions.com,. (2016). Regions Financial Corporation - Management. Retrieved 12 February 2016, from http://ir.regions.com/management.cfm