Company increases minimum wage to $15 per hour, contributes $40
million to benefit communities, and increases capital investments to
serve customers
BIRMINGHAM, Ala.--(BUSINESS WIRE)--
Regions
Financial Corporation (NYSE:RF) today announced a series of
targeted, long-term investments to benefit its associates, customers,
and the communities the bank serves. Regions is making these investments
in anticipation of the savings it will recognize as a result of federal
tax reform intended to support economic growth.
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Regions Financial operates approximately 1,500 banking offices and 1,900 ATMs across the South, Midwest and Texas. (Photo: Business Wire)
"We understand that the growth of our company is based on the economic
vitality of the communities where we do business, as well as the work
from our team of talented associates who are committed to serving our
customers every day," said Regions Chairman and CEO Grayson Hall. "The
investments we are announcing today in our workforce, our communities
and our company reflect our commitment to creating shared value and will
support sustainable growth that ultimately benefits our customers and
shareholders."
Regions committed to the following actions:
-
Increasing the minimum hourly wage to $15 by the end of 2018. This
will benefit approximately 25 percent of the company's workforce and
is part of Regions' ongoing effort to provide sustainable career paths
and professional growth opportunities for all associates.
-
Contributing $40 million to the company's charitable foundation to
support financial education, job training, economic development, and
affordable housing, all of which help foster an environment of
inclusive prosperity and create shared value for Regions' customers,
communities, and shareholders.
-
Increasing the company's capital expenditures budget by approximately
$100 million, or 50%, over the 2017 level to support investments in
facilities, technology, product innovation, and personalized service
to meet customer needs.
About Regions Financial Corporation
Regions Financial
Corporation (NYSE:RF), with $123 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.
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Regions Bank
Jeremy King, 205-264-4551
regions.doingmoretoday.com
Regions
News on Twitter: @RegionsNews
Source: Regions Financial Corporation
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