2009 Citi

Financial Services Conference

January 27-28, 2009

Exhibit 99.1

FORWARD LOOKING STATEMENTS

The information contained in this presentation may include forward-looking statements which reflect Regions' current views with respect to future events and financial

performance. The Private Securities Litigation Reform Act of 1995 ("the Act") provides a safe harbor for forward-looking statements which are identified as such and are

accompanied by the identification of important factors that could cause actual results to differ materially from the forward-looking statements. For these statements, we,

together with our subsidiaries, unless the context implies otherwise, claim the protection afforded by the safe harbor in the Act. Forward-looking statements are not based on

historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on

management's expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those

statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the

views, beliefs, and projections expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those described below:

Regions' ability to achieve the earnings expectations related to businesses that have been acquired, or that may be

acquired in the future.

Regions' ability to expand into new markets and to maintain profit margins in the face of competitive pressures.

Regions’

ability to keep pace with technological changes.

Regions’

ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support

Regions’

business

Regions' ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by Regions' customers and

potential customers.

Regions' ability to effectively manage interest rate risk, market risk, credit risk, operational risk, legal risk, liquidity risk, and regulatory and compliance risk.

The current stresses in the financial and real estate markets, including possible continued deterioration in property values

The

cost

and

other

effects

of

material

contingencies,

including

litigation

contingencies.

The effects of increased competition from both banks and non-banks.

Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins.

Possible

changes

in

general

economic

and

business

conditions

in

the

United

States

in

general

and

in

the

communities

Regions

serves

in

particular.

Possible changes in the creditworthiness of customers and the possible impairment of collectibility of loans.

The effects of geopolitical instability and risks such as terrorist attacks.

Possible changes in trade, monetary and fiscal policies, laws, and regulations, and other activities of governments, agencies, and similar organizations, including

changes in accounting standards, may have an adverse effect on business.

Possible changes in consumer and business spending and saving habits could affect Regions' ability to increase assets and to attract deposits.

The effects of weather and natural disasters such as droughts and hurricanes.

Congress recently enacted the Emergency Economic Stabilization Act of 2008, and the U.S. Treasury and banking regulators are implementing a number of programs

to  address capital and liquidity issues in the banking system, all of which may have significant effects on Regions and the financial services industry, the exact nature of

which  cannot be determined at this time.

The

foregoing

list

of

factors

is

not

exhaustive;

for

discussion

of

these

and

other

risks

that

may

cause

actual

results

to

differ

from

expectations,

please

look

under

the

caption

“Forward-Looking Statements”

in Regions’

Annual Report on Form 10-K for the year ended December 31, 2007 and Forms 10-Q for the quarters ended September 30,

2008, June 30, 2008, and March 31, 2008, as on file with the Securities and Exchange Commission.

The words "believe," "expect," "anticipate," "project," and similar expressions often signify forward-looking statements. You should not place undue reliance on any forward-

looking statements, which speak only as of the date made. Regions assumes no obligation to update or revise any forward-looking statements that are made from time to

time.

›

Company Profile

›

Financial Performance and Credit Quality

›

Capital

›

Funding and Liquidity

›

2009 Focus Areas

Regions is Among the Largest U.S. Banks

›

Market Capitalization

$5.5 billion

›

Assets

$146 billion

›

Loans, net of unearned income

$97 billion

›

Deposits

$91 billion

›

Branches

1,900

›

ATMs

2,336

NOTE:

As of December 31, 2008.

Source:  Based on June 30, 2008 FDIC Data obtained from SNL

State

Dep. ($B)

Mkt. Share

Rank

AL

$17.2

23%

#1

TN

16.3

16

#1

FL

14.3

4

#4

MS

9.7

21

#1

LA

7.2

10

#3

GA

6.1

3

#6

AR

4.2

9

#2

TX

3.0

1

#17

IL

2.4

1

#24

MO

2.2

2

#9

IN

2.1

2

#9

Other

2.5

—

—

Regions

Morgan Keegan

Insurance

Strong Southeastern Franchise

High Relative Market Density

Weighted Average

Name                         

Market Share (1)

BB&T

22.2

Wells Fargo

20.3

Comerica

18.8

M&T

18.1

M&I

17.8

Bank of America

16.6

JP Morgan

16.3

U.S. Bancorp

16.3

PNC

16.2

KeyCorp

14.5

SunTrust

14.3

Capital One

13.0

Fifth Third

13.0

Citi

8.4

Median

16.3%

(1) Deposits weighted by county.  Excludes deposits from branches with > $10bn of

deposits.  Based on June 30, 2008  FDIC data.

Regions

20.7

Regions compares

favorably in terms of

weighted average market

share relative to other

top banking franchises

332 Office Locations

Profile

›

1,283 financial advisors

›

332 offices in 19 states

›

$63 billion of customer assets

›

$62 billion of trust assets

›

$58 million assets per financial

advisor

Morgan Keegan –

Among the Largest Regional Full-Service Brokerage and Investment

Banking Firms

As of December 31, 2008

Fourth Quarter 2008 Results

›

Earnings per diluted share of ($9.01), ($0.35)

(1)

excluding goodwill impairment

›

$6 billion, ($8.66) non-cash goodwill impairment charge

›

Full-year profit of $0.74

(1)

per share before goodwill impairment and merger charges

›

Credit quality

›

Sold or moved to held for sale (HFS) $1.0 billion of non-performing assets (NPAs)

›

NPAs, excluding HFS, declined $347 million due to aggressive management

›

Provision for loan losses increased to $1.15 billion, or $354 million above net charge-offs

›

Ratio of allowance for credit losses to non-performing loans (excluding loans held for sale)

increased from 1.07x to 1.81x

›

Allowance for credit losses to total loans increased 38 basis points to 1.95%

›

Annualized net charge-offs of 3.19% impacted by proactive NPL management

›

Tax settlement benefits earnings and capital by $275 million, essentially closes 1999-

2006 tax years

›

Net interest margin declined to 2.96%

›

Non-interest revenues affected by worsening economy

›

Regulatory capital ratios strengthened, liquidity remains strong

(1)

For a reconciliation of this amount to the same measure on a GAAP basis and a statement of why

management

believes

this

measure

provides

useful

information

to

investors,

see

Regions’

8-K

filed

January

20,

2009

announcing

results

of

operations

for

the

period

ended

December

31,

2008.

Significant Earnings Drivers

4Q08

Goodwill Impairment Charge

(8.66)

$         

Tax Settlement

0.40

Losses on Loan Sales/Held for Sale Markdowns

(0.42)

Provision above Net Charge-offs

(0.32)

MSR Impairment

(0.09)

Preferred Stock Issuance Impact

(0.04)

All Other

0.12

Earnings Per Diluted Share

(9.01)

$         

Credit Perspective

Portion of the loan portfolio that is under stress comprises 9% of the total, down $3.1

billion over the past year.

12/31/2008

% of Total

12/31/2007

($ in millions)

Balance

Portfolio

Balance

Change

Homebuilder

Lots

$967

1.0%

$1,608

($641)

Residential Presold

300

0.3%

618

(318)

Residential Spec

1,297

1.3%

1,893

(596)

Land

1,553

1.6%

2,926

(1,373)

National Homebuilders/Other

286

0.3%

160

126

$4,403

4.5%

$7,205

($2,802)

Home Equity Lending

Florida - 2nd lien

3,663

3.8%

3,285

378

Condominium

946

1.0%

1,614

(668)

Stressed Portfolio

$9,012

9.3%

$12,104

($3,092)

Remaining Loan Portfolio

$88,407

90.7%

$83,275

$5,132

Losses Contained in Smaller Portfolios

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

Total Loan Portfolio ($ in billions)

Note: Bar height represents charge-off percentage and width

represents average balances as of 4Q08.

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

Total Loan Portfolio ($ in billions)

Note: Bar height represents charge-off percentage and width

represents average balances as of 4Q08.

Increasing Florida Stress

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

Q3 '07

Q4 '07

Q1 '08

Q2 '08

Q3 '08

Q4 '08

0.0x

0.5x

1.0x

1.5x

2.0x

2.5x

Non-performing Assets (NPAs)

NPAs exc. Held for Sale (HFS) ($)

Allowance for Credit Losses (ACL) / Non-performing Loans

(NPLs) exc. HFS

13

Increases in Charge-Offs and Loan Loss Provision

Improvements in NPAs and Coverage Ratio

0.00%

0.50%

1.00%

1.50%

2.00%

2.50%

3.00%

3.50%

Q3 '07

Q4 '07

Q1 '08

Q2 '08

Q3 '08

Q4 '08

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

Net Charge-Offs (NCOs) / Average Loans (%)

Loan Loss Provision ($)

Net Charge-Offs ($)

Net C/O %

LLP

NPAs

ACL/NPL

exc. HFS

Aggressive Non-performing Asset            

Management

(in millions)

1Q

2Q

3Q

4Q

Beginning NPAs

1

864

1,204

1,621

1,642

Additions

523

730

721

1,004

Payments

(62)

(52)

(70)

(82)

Returned to Accruing Status

(4)

(9)

(19)

(44)

Charge-Offs/OREO Write-downs

(92)

(105)

(180)

(243)

Dispositions/Held for Sale

(25)

(147)

(431)

(982)

Ending NPAs

1

1,204

1,621

1,642

1,295

(1) Excluding non-performing assets transferred to held for sale

2008

Net Interest Income and Margin

›

Taxable-equivalent net interest income of $933 million

›

Down $41 million, excluding $43 million third quarter SILO

impact

›

Stable earning asset volumes excluding proceeds from

Government programs

›

Net interest margin of 2.96%, declined 28 basis points excluding

third quarter SILO impact

›

Falling short-term interest rates

›

55% of loan portfolio tied to Prime or LIBOR

›

Deposits rates have not declined as much due to competitive

pressures

Growing Customer Deposits

($ amount in millions)

6/30/2008

9/30/2008

12/31/2008

% Change

4Q08 vs 3Q08

Low Cost Deposits

58,448

$  

56,690

$   

56,422

$      

-0.5%

Customer Deposits

85,696

84,460

87,864

4.0%

Corporate Treasury Deposits

5,207

4,131

1,669

-59.6%

Total Deposits

90,903

88,591

89,533

1.1%

($ amount in millions)

6/30/2008

9/30/2008

12/31/2008

% Change

4Q08 vs 3Q08

Low Cost Deposits

58,649

$  

55,922

$   

58,425

$      

4.5%

Customer Deposits

86,025

85,210

90,794

6.6%

Corporate Treasury Deposits

3,878

4,011

110

-97.3%

Total Deposits

89,903

89,221

90,904

1.9%

Deposit Portfolio - Average Balances

Deposit Portfolio - Ending Balances

Loan Trends

($ amount in millions)

6/30/2008

9/30/2008

12/31/2008

% Change

4Q08 vs

3Q08

Commercial & Industrial

22,403

$  

22,916

$ 

24,122

$  

5.3%

Commercial real estate

24,741

25,207

25,887

2.7%

Construction

12,151

12,042

11,584

-3.8%

Residential first mortgage

16,578

16,304

16,005

-1.8%

Home Equity

15,253

15,659

16,036

2.4%

Indirect and other consumer

6,068

6,205

5,500

-11.4%

97,194

98,333

99,134

0.8%

($ amount in millions)

6/30/2008

9/30/2008

12/31/2008

% Change

4Q08 vs

3Q08

Commercial & Industrial

23,242

$  

23,511

$ 

23,596

$  

0.4%

CRE and Construction

24,919

25,720

26,208

1.9%

CRE and Construction

12,002

11,620

10,634

-8.5%

Residential first mortgage

16,464

16,191

15,839

-2.2%

Home Equity

15,447

15,849

16,130

1.8%

Indirect and other consumer

6,193

5,821

5,012

-13.9%

98,267

98,712

97,419

-1.3%

Loan Portfolio - Average Balances

Loan Portfolio - Ending Balances

Q3 to Q4 2008 Non-Interest Revenue and Expense

Changes Primarily Driven by Continued Economic

Distress

›

Non-Interest Revenue declined $18 million driven by lower market values

on trust accounts and lower service charge revenue.

›

Non-Interest Expense rose 7%, excluding Goodwill and MSR impairment

charges.

(in millions)

3Q08

4Q08

% Change

Non-Interest expense

1,103

$   

7,273

$   

MSR impairment

11

99

Goodwill impairment

-

6,000

Adjusted Non-interest expense

1,092

1,174

7%

Capital Ratios

›

Tier 1 and total capital strengthened by Capital Purchase Program

›

Tangible ratio affected by an increase in tangible assets, a result of

improved  liquidity

Estimate

3Q08

4Q08

Tier 1 Capital Ratio

7.47%

10.39%

Total Risk-Based Capital Ratio

11.70%

14.65%

Tangible Equity to Tangible Assets

5.69%

5.23%

Strong Funding and Liquidity

Liquidity

›

Combined available liquidity from the

Fed, FHLB, unpledged securities and

unused lines exceeds $45 billion

›

Large excess reserve balances

›

Minimal Holding Company long-term

debt maturities

›

Avg Loans/Avg Deposits 111%

›

Average non-interest-bearing deposits/

Average interest-earning assets 14%

Funding

›

Customer core deposits fund 59% of

total assets and 88% of loans

›

Customer core deposits are 98% of

total deposits

›

$4 billion TLGP remaining capacity

›

Issuances performing well

›

Short-term funding markets loosening

2009 Focus Areas

›

Aggressively Manage Credit Issues

›

Ensure Capital and Liquidity Strength

›

Improve Net Interest Margin

›

Build Non-interest Revenues

›

Control Expenditures

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