UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 4, 2012
REGIONS FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
DELAWARE | 000-50831 | 63-0589368 | ||
(State or other jurisdiction of incorporation) |
(Commission File Number) |
(IRS Employer Identification No.) |
1900 FIFTH AVENUE NORTH
BIRMINGHAM, ALABAMA 35203
(Address, including zip code, of principal executive office)
Registrants telephone number, including area code: (205) 944-1300
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ | Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 8.01. | Other Events. |
On April 4, 2012, Regions Financial Corporation issued a press release announcing completion of its repurchase of the $3.5 billion of the Fixed Rate Cumulative Perpetual Preferred Stock, Series A, issued to the U.S. Treasury under the Troubled Asset Relief Programs Capital Purchase Program. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
99.1 | Press Release dated April 4, 2012 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
REGIONS FINANCIAL CORPORATION | ||
By: | /s/ Fournier J. Gale, III | |
Name: | Fournier J. Gale, III | |
Title: | Senior Executive Vice President, | |
General Counsel and Corporate | ||
Secretary |
Date: April 4, 2012
Exhibit 99.1
Media Contact: | Investor Relations Contact: | |
Tim Deighton | List Underwood | |
(205) 264-4551 | (205) 801-0265 |
Regions Financial Corporation Completes Repurchase of U.S. Treasurys $3.5
Billion Investment in Preferred Stock Under TARP
BIRMINGHAM, Ala. (BUSINESS WIRE) April 4, 2012 Regions Financial Corp. (NYSE:RF) announced today that it has completed its repurchase of $3.5 billion of Series A Preferred Stock issued under the U.S. Treasurys Troubled Asset Relief Programs Capital Purchase Program. In addition to fully repaying the governments investment, Regions has previously paid a total of $593 million in dividends to taxpayers. On an annual ongoing basis, the repurchase eliminates the payment of $175 million in dividends on these securities.
The repurchase follows Regions successful completion of a $900 million common equity offering and the completion of its sale of Morgan Keegan & Company, Inc. and related affiliates resulting in total proceeds of approximately $1.2 billion to Regions.
About Regions Financial Corporation
Regions Financial Corporation, with $127 billion in assets, is a member of the S&P 500 Index and is one of the nations 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 2,100 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.
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