SBA Ranks Regions Financial No. 3 Small Business Lender Among Large U.S. Banks
June 15 2009 - 8:30AM
Business Wire
For the sixth consecutive year the U.S. Small Business
Administration (SBA) ranked Regions Financial Corporation (NYSE:
RF) third among large U.S. banks in an annual study measuring
banks� emphasis on lending to small businesses.
According to the U.S. Small Business Administration�s Office of
Advocacy report, Small Business and Micro Business Lending in the
United States, for Data Years 2007-2008, Regions ranked third in
the large bank category, behind two national credit card issuers,
based on the most recent Consolidated Reports of Condition and
Income (Call Report) data. Regions also received top rankings for
small business lending in several states where the Bank operates.
The SBA defines small business loans as those under $1 million.
�Small businesses are the engine of our economy and Regions has
a long track record of providing capital to small businesses along
with solutions to help small business owners manage all of their
financial needs,� said Tim Laney, senior executive vice president
and head of Regions� Business Services group. �The SBA study
results demonstrate Regions� continued commitment to helping small
businesses succeed through all economic cycles, including the
current recession.�
In addition to maintaining its strong national lending track
record, Regions received high marks from the SBA for its commitment
to small business lending in individual states. Regions was ranked
the No. 1 small business lender in Alabama for the second year in a
row and moved up two slots to claim the No. 1 ranking in Tennessee.
Regions improved or maintained its small business lending ranking
in 14 of the 16 states where the bank operates. Rankings are based
on 2007 CRA data for banks with $50 million or more in small
business lending in individual states.
�
Small Businesses Lending
Ranking by State - Regions Financial
�
State
*2009 Ranking
**2008 Ranking
Alabama No. 1 No. 1 Tennessee No. 1 No. 3 Arkansas No. 2 No. 2
Louisiana No. 2 No. 4 Mississippi No. 2 No. 7 Florida No. 4 No. 12
Indiana No. 7 No. 15 Georgia No. 7 No. 5 Missouri No. 10 No. 14
South Carolina No. 10 No. 10 Texas No. 13 No. 17 Iowa No. 14 ***
Not listed Kentucky No. 19 *** Not listed Illinois No. 20 No. 31
North Carolina No. 24 No. 24 Virginia *** Not listed *** Not listed
�
* Source: U.S. Small Business Administration, Office of
Advocacy, Small Business and Micro Business Lending in the United
States for Data Years 2007-2008, May 2009
**Source: U.S. Small Business Administration, Office of
Advocacy, Small Business and Micro Business Lending in the United
States for Data Years 2006-2007, June 2008.
*** Only lenders with small business loan totals of more than
$50 million in a given state are listed.
About the Report
The U.S. Small Business Administration�s Office of Advocacy
issues an annual study of lending to small firms. The latest
report, Small Business and Micro Business Lending in the United
States for Data Years 2007-2008, gives a detailed account of small
business lending overall, plus state-by-state totals and totals for
individual lenders. The report uses the most recent Consolidated
Reports of Condition and Income (Call Report) data for June 2007 to
June 2008 and Community Reinvestment Act (CRA) data for 2007 to
examine financial institutions� small and microbusiness lending.
Small business loans in these data are business loans of less than
$1 million and microbusiness loans are loans of less than $100,000.
The report ranks lenders on their overall small business lending,
not lending under SBA programs. The full study, including expanded
state-by-state tables, is available online at
http://www.sba.gov/advo/research/2008.html.
About Regions Financial Corporation
Regions Financial Corporation, with $142 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 1,900
banking offices and approximately 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.
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