EXIM Honors Regions Bank, Based in Birmingham, Alabama, with Lender of the Year Award for Outstanding Support of U.S. Exports
WASHINGTON - The Export-Import Bank of the United States (EXIM) today presented a Lender of the Year award to Regions Bank, headquartered in Birmingham, Alabama, for its outstanding support for America's exports at the 2020 EXIM Annual Conference, the largest conference in the agency's history, which is being held virtually September 9-11. Regions Bank presently serves customers in 15 states: Alabama, Arkansas, Florida, Georgia, Illinois, Indiana, Iowa, Kentucky, Louisiana, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, and Texas.
Regions Bank 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, allowing the bank to increase support for exports of U.S. goods and services from small and medium-sized companies in the 15 states in which it operates throughout the South and Midwest.
"We are proud to recognize the outstanding efforts of Regions Bank on behalf of our country's great small business exporters and the many Americans they employ," said EXIM President and Chairman Kimberly A. Reed. "We often hear from small businesses about how important it is for them to have a reliable commercial lender they can count on to help them grow and expand their businesses. Regions has been a strong partner with EXIM to help businesses compete and win in the global marketplace, and I'm proud they are being honored for their efforts."
"Regions Bank has always enjoyed the partnership and the benefits that EXIM provides to assist our clients with their export needs. Our clients can leverage the program to obtain much-needed working capital which would not be available under normal circumstances," said Donald N. McCorkell, Jr., senior vice president of the Global Trade Group at Regions Bank.
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.