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Press release from Business Wire

Regions Purchases Credit Card Portfolio of Approximately $1 Billion

<p class='bwalignc'> <i>Builds broader and deeper relationships with customers; Improves balance between consumer and commercial loan portfolios; Diversifies revenue streams</i> </p>

Monday, June 06, 2011

Regions Purchases Credit Card Portfolio of Approximately $1 Billion16:30 EDT Monday, June 06, 2011 BIRMINGHAM, Ala. (Business Wire) -- Regions Bank (NYSE: RF) today announced that it has signed a definitive agreement with FIA Card Services to acquire the Regions-branded credit card portfolio of approximately $1 billion. The portfolio of 500,000 existing Regions customer accounts will accelerate Regions' efforts to improve balance between its consumer and commercial loan portfolios, further diversify revenue streams and better serve its customers. “This transaction will help us bring greater balance and diversity to our business while providing opportunities for us to meet more of our customers' borrowing needs,” said Grayson Hall, CEO and president of Regions. “Our successful efforts over the past two years to attract new checking customers gives us a strong platform for operating this business successfully.” The closing of the transaction is subject to the conditions set forth in the definitive agreement. Regions expects the transaction to close during the second quarter. Terms were not disclosed. Customers will experience minimal impact as FIA Card Services will continue to service the accounts held by Regions customers under an interim servicing agreement until mid-2012, when Regions will integrate credit card servicing into its industry-leading customer service environment. “This is an important component of our strategy to build broader and deeper relationships with our customers,” said John Owen, senior executive vice president and head of Consumer Services with Regions. “Building on our strengths, including an extensive branch network and industry-leading customer satisfaction, we plan to grow this business as part of an expanding suite of financial solutions to serve our customers.” About Regions Financial Corporation Regions Financial Corporation, with $132 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, trust, securities brokerage, 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 1,800 banking offices and 2,200 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at Regions BankMedia Contact:Tim Deighton, 205-264-4551orInvestor Relations Contact:List Underwood, 205-801-0265