Regions Bank Offers Relief to Customers in Impacted Areas

BIRMINGHAM, Ala.--Regions Bank, a part of Regions Financial Corporation (NYSE: RF), has resumed normal banking operations in the areas of Arkansas, Texas and Louisiana impacted last week and over the weekend by Hurricane Rita.

The company's facilities in Rita's path did not suffer significant structural damage, and the safety and well-being of the majority of its associates in the storm-impacted areas has been ascertained. Regions has minor, power-related branch outages in Texas today due to Hurricane Rita, and still has a total of 24 banking and mortgage offices that are closed due to Hurricane Katrina: two in Alabama, four in Mississippi and 18 in Louisiana. The company's Web site, www.regions.com, will reflect openings of these offices as they occur.

Regions will show its support for the communities impacted by Hurricane Rita by offering special services to the residents and customers in those emergency relief areas. The bank has waived ATM and check-cashing fees for residents and customers in the affected areas, and Regions Bank customers in those same impacted areas can defer some loan and credit card payments, increase credit limits on credit cards and get special discounts and introductory rates on new equity loans and lines of credit.

In addition, Regions continues to accept donations for disaster relief for the American Red Cross and the Salvation Army.

The bank's special services for customers in the emergency relief areas include:

-- Deferred payment on some consumer and business installment loans

-- Discount rates on new direct consumer installment loans

-- Four month introductory rate of 3.9 percent on Equity Asset

-- Lines and no closing costs

-- Fees waived for retail customers on domestic wire transfers

-- Existing credit card line increases, emergency replacement cards and payment deferment

Regions Bank customers in Rita-impacted areas with questions should call 1-800-REGIONS. Regions Mortgage customers in Rita-impacted areas should call 1-800-986-2462.

About Regions Bank

A community-focused bank with local leadership in the markets it serves, Regions Bank currently offers full-service commercial and retail banking from more than 1,400 offices and a 1,700-ATM network across 16 states throughout the South, Midwest and Texas. Headquartered in Birmingham, Ala., the bank, a part of Regions Financial Corporation (NYSE: RF), draws on the resources of its parent company's other affiliates, including Morgan Keegan, to ensure that both business and retail customers can avail themselves of a full range of financial products and services in the areas of mortgage banking, securities brokerage and insurance. Additional information about Regions Bank and Regions Financial Corporation - a member of both the Forbes and Fortune 500 and one of the nation's Top 15 financial services providers - can be found at www.regions.com.

What are people saying about mortgages today:

Rates on 30-year mortgages edged down last week to a seven-month low. Mortgage-giant Freddie Mac reported Thursday that 30-year, fixed-rate mortgages fell to 6.3 percent, down slightly from 6.31 percent two weeks ago. It put rates at the lowest level since they were at 6.24 percent the first week of March.

Bank of Hawaii, Central Pacific Bank, Territorial Savings Bank and Wells Fargo Home Mortgages all cut their 30-year mortgage rates to 5.75 percent this week.

Most people think of a mortgage as a means to an end. After all, you buy a house, not a home loan. But a mortgage is much more than the path to homeownership. It is a financial instrument that must be managed, just like any other financial investment.