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THURSDAY, APRIL 19, 2007
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Regions to close AmSouth main office

By Eric Fleischauer
eric@decaturdaily.com 340-2435

Regions Financial Corp., which last year merged with AmSouth Bancorp, said it will close AmSouth's main Decatur office July 12.

On July 13, all AmSouth branches in Alabama and Florida will take the name Regions.

AmSouth's main office is an eight-story building at Holly Street Southeast and Second Avenue. Regions' main office is two blocks away.

The branch employees in the closed AmSouth building will be moved to other branches, according to Regions' Birmingham-based spokesman Rick Swagler.

Transferring employees

Other employees, including those involved in private banking, trusts and business banking, will move to the second floor of the Regions main office, which is undergoing renovations.

Morgan Keegan employees also will move to the second floor of the AmSouth building, Swagler said.

Customers can use the Regions main office at 401 Lee St. S.E.

Items in safe deposit boxes at AmSouth will be moved July 6 and be available, with the same keys, at the Regions office July 9.

Regions plans to sell the AmSouth building, but Swagler said it has no buyer.

On Tuesday, Regions reported its first-quarter profit rose 13 percent, as the company posted gains in its deposit, lending and fee-related businesses.

Quarterly earnings increased to $333 million from $294.7 million during the same period last year.

Per-share profit declined to 45 cents from 64 cents in the prior year because of a rise in outstanding shares.

Excluding charges of 4 cents per share related to the company's purchase of AmSouth, Regions recorded earnings from continuing operations of 69 cents per share in the latest quarter.

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