Visits Alabama-Based Regional Lender that Serves EXIM Customers in 15 States
FOR IMMEDIATE RELEASE November 17, 2020
Office of Communications (202-565-3203)
BIRMINGHAM, Alabama – Export-Import Bank of the United States (EXIM) Board Member Spencer Bachus yesterday presented a Lender of the Year award to Regions Bank, a regional lender headquartered in Birmingham, Alabama, in recognition of its efforts to support U.S. companies as they export their goods and services around the world.
Regions Bank was honored virtually during EXIM’s 2020 Annual Conference in September. It has been an EXIM Delegated Authority Lender since 1994 and an EXIM Letter of Credit policyholder since 1991. Over the past year, Regions Bank has processed more than $65 million of letters of credit transactions and is an assignee lender on several EXIM short-term export credit insurance policies.
In February 2020, EXIM’s Board of Directors unanimously approved an increase in the delegated authority for Regions Bank, allowing the lender to increase support for exports of U.S. goods and services from small and medium-sized companies in the 15 states where it operates throughout the South and Midwest. The bank currently serves customers in Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
Pictured (l to r): Marc Mullins, Executive Vice President and Head of Regions Treasury Management Products and Operations; Spencer Bachus, Member of the EXIM Board of Directors; Ronnie Smith, Senior Executive Vice President and Head of Regions Corporate Banking Group
“It was an honor to present Regions Bank with the EXIM Lender of the Year Award for outstanding support of U.S. exports,” said EXIM Board Member and former Congressman Spencer Bachus. “Access to working capital is critical to small businesses, and over half of Regions’ EXIM-backed financing has gone to small businesses, enabling these companies to grow through exporting and employ workers across the South, Midwest, and Texas.”
Board Member Bachus, who formerly represented Alabama in the U.S. House of Representatives, met with officials at the Regions Bank headquarters. In 2019, Regions also was honored as an Export Lender of the Year by the U.S. Small Business Administration.
“Regions is honored to receive this recognition from EXIM. At Regions, we work hard to earn the reputation and service quality our customers expect. Ultimately, our businesses and our communities benefit from the partnership’s support to gain certainty in these trying and uncertain times,” said Marc Mullins, Executive Vice President and Head of Treasury Management Products and Operations.
Regions Financial Corporation 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, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,400 banking offices and 2,000 ATMs.
EXIM is an independent federal agency that promotes and supports American jobs by providing competitive and necessary export credit to support sales of U.S. goods and services to international buyers. A robust EXIM can level the global playing field for U.S. exporters when they compete against foreign companies that receive support from their governments. EXIM also contributes to U.S. economic growth by helping to create and sustain hundreds of thousands of jobs in exporting businesses and their supply chains across the United States. In recent years, approximately 90 percent of the total number of the agency’s authorizations has directly supported small businesses. Since 1992, EXIM has generated more than $9 billion for the U.S. Treasury for repayment of U.S. debt.
For more information about EXIM, please visit www.exim.gov.