Oct. 28, 2009 (Business Wire) -- Based on recently released FDIC data, Regions Bank (NYSE: RF) saw its overall deposits increase in 24 out of 25 major metro areas in the 16 states that it serves. From June 30, 2008, to June 30, 2009, Regions’ overall deposits were up $7.5 billion, an 8.7% increase.

“Our focus has been on delivering a top tier level of service to customers, and those efforts translated into loyalty, increased customer satisfaction and growth in deposits,” said Grayson Hall, Regions’ president and chief operating officer. “Regions’ strength and stability provided a safe harbor for consumers during the most difficult economic period in two generations.”

Significant growth was seen in some of the most highly competitive and desirable markets in the U.S., including:

Overall Regions’ deposit increase was driven by strong account production in its signature LifeGreen Checking and Savings account for consumers and small businesses. New account openings in the first nine months of 2009 reached a company record 762,000, putting Regions on track to open one million new accounts in the year.

Even in the midst of the Great Recession, consumers have rediscovered savings and thrift. In fact, overall, national savings rates in the U.S. have recently hovered around 4 percent. As an example, average low cost deposits increased $1.3 billion versus the second quarter 2009, including a $701 million or 3 percent rise in average non-interest bearing funds. And in 2008, one in five new Regions checking customers opened a savings account; today, that number is more than one in two.

For Regions, the downturn has been an opportunity to help customers by providing a safe and stable place for them to rediscover saving. Regions associates have provided thousands of children with financial skills training and provided free savings reviews in its branches. In July, Regions launched a saving-related website -- savewithregions.com –- that provides browsers with an online savings review tool, money-saving tips and access to a fun savings online game. Between June 2008 and June 2009, Regions was twice selected by the FDIC to assist customers of failing banks.

About Regions Financial Corporation

Regions Financial Corporation, with $140 billion in assets, is a member of the S&P 100 Index and 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 1,900 banking offices and 2,300 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 www.regions.com.