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New facility reflects Regions' commitment to Hattiesburg and the
Pine Belt.
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Approximately 90 new jobs to be created.
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Regions to continue its branch-banking presence in downtown
Hattiesburg.
HATTIESBURG, Miss.--(BUSINESS WIRE)--
Regions
Bank today announced plans to build an approximately 75,000
square-foot operations facility near the intersection of Lamar Boulevard
and Lincoln Road in Hattiesburg.
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Regions' operations facility will be designed to feature modern work environments that foster greater collaboration and communication between departments. Pictured is a Regions facility in Florida on which the Hattiesburg facility will be based. (Photo: Business Wire)
The high-tech facility will be designed to accommodate Regions
associates who currently work across various business groups at Regions'
Kress, Front Street and Forrest Tower facilities in downtown
Hattiesburg. Further, Regions plans to create approximately 90
additional jobs to support company operations.
Regions currently employs more than 320 people in the Hattiesburg area.
With the addition of new jobs, the company's operations facility is
expected to house up to 420 associates after completion. The facility
represents an expected capital investment of $23 million by Regions. The
design of the operations center will also allow for potential expansion
in the future.
"Hattiesburg and the Pine Belt Region have celebrated significant
economic development wins in recent years. Regions' investment in this
new facility and commitment to adding 90 new jobs, bringing the
company's total employment in the city to more than 400, will benefit
the local community for many years to come," Gov. Phil Bryant said.
"It is no surprise that Regions has chosen the City of Hattiesburg as
the location of its new mortgage operations facility," added U.S. Rep.
Steven Palazzo of South Mississippi's 4th Congressional District. "I
commend the Area Development Partnership (ADP), Regions and the City of
Hattiesburg for the hard work they have put forth to ensure this
expansion. I look forward to the continued success of Regions in the
Pine Belt and the company's ongoing commitment to Lamar County, Forrest
County and the City of Hattiesburg."
Construction of the operations facility is expected to begin as soon as
the fourth quarter of 2017.
"Regions Bank is committed to Hattiesburg, the Pine Belt and the state
of Mississippi," said Greg Garraway, South Mississippi President for
Regions Bank. "People who work for Regions in Hattiesburg are dedicated
to serving customers here at home and across the country. When it came
time to grow and expand our operations, we knew we wanted to do so here
in this community."
"We are extremely pleased that Regions has such confidence in our
community and in the quality of our workforce," said Evan Dillard,
Chairman of the Area Development Partnership. "The company's selection
of Hattiesburg is a testament to the pro-business operating environment
found here."
The property will primarily house associates from Regions Mortgage,
which serves homeowners throughout the Southeast, Texas, the Midwest and
beyond.
"Currently, we have people spread across several floors in three
separate buildings downtown," said Morgan McCarty, Mortgage Servicing
Division Manager for Regions in Hattiesburg. "Our new facility will
bring everyone together under one roof in a workspace that's designed to
improve communications and efficiencies across our departments."
In preparation for the development of the new facility, Regions has
completed the sale of the company's Kress, Front Street and Forrest
Tower facilities downtown. The company will lease back the space Regions
currently occupies in those buildings, meaning Regions associates will
remain in the downtown buildings until the new location is operational.
Further, Regions' will continue to maintain a bank branch in the
downtown area following construction of the operations facility along
Lamar Boulevard.
"Regions has served local customers from downtown for many years, and
that is not going to change," Garraway said. "The plans we are
announcing today will help support the continued strength and vitality
of this community and the surrounding area for many years to come."
The new operations facility is a win-win for the Hattiesburg community.
Not only will the more modern location enable Regions associates to
serve customers more efficiently, the location will also support nearby
retail and dining, bringing increased consumer traffic and benefitting
the overall area.
Also, the developer purchasing the Kress, Front Street and Forrest
Towers facilities downtown has long-term plans to redevelop the
facilities into mixed-use residential and commercial spaces, thus
helping attract new businesses and residents to the city's downtown core
and encouraging continued development.
Civic leaders welcomed news of Regions' plans as the company builds on
its investments in the Hattiesburg area.
"Regions has been a longtime member of the Hattiesburg community, and we
applaud the company for making this new investment that will continue to
benefit the area," said Hattiesburg Mayor Johnny DuPree. "This sets the
stage for continued development in two distinct areas of our city, and,
in turn, the city as a whole can benefit."
"We are honored and humbled by Regions' decision to locate the bank's
new mortgage facility in Lamar County," said Lamar County Supervisor
Steve Lampton. "Regions selected a high-growth corridor that provides
quick access to services that will be well received by current employees
and new hires."
Hiring for newly created positions is expected to begin during the
current quarter. Regions lists available jobs under the "Careers"
section of Regions.com. The company will add additional positions as
they become available.
The new facility is expected to be operational as soon as the first
quarter of 2019. Newly hired associates whose positions will be housed
at the operations facility will work in current Regions offices until
the transition to the new space.
About Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $126 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, wealth
management, mortgage, and insurance products and services. Regions
serves customers across the South, Midwest and Texas, and through its
subsidiary, Regions Bank, operates approximately 1,500 banking offices
and 1,900 ATMs. Additional information about Regions and its full line
of products and services can be found at www.regions.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170417005158/en/
Regions Bank
Jeremy D. King, 205-264-4551
Regions News Online: regions.doingmoretoday.com
Regions
News on Twitter: @RegionsNews
Source: Regions Bank
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