JACKSONVILLE, Ala. – July 11, 2019 – Regions Bank on Thursday announced the company will support Jacksonville State University’s (JSU) ongoing tornado recovery efforts with a $30 million line of credit.
The university has made significant progress in restoring portions of the campus that were severely damaged during the March 2018 tornado. The line of credit from Regions will allow demolition and construction or renovation to begin on several facilities – Merrill Hall, Wallace Hall and Mason Hall – while the university awaits insurance settlements.
“At Regions, we live here, we work here, and we are committed to serving Jacksonville State University and its students as the university continues its long-term recovery,” said Corey McWhorter, Commercial Relationship Manager for Regions Bank. “While much work has been done to the campus, there is much more left to do. We are pleased to provide financial resources to continue recovery efforts. As additional needs arise, Regions will be here every step of the way to provide solutions.”
JSU released a request for proposal (RFP) in February for funding to assist with the payment of recovery expenditures. Regions was selected in a competitive bid process and recently finalized the agreement for the line of credit with the university.
Jacksonville State University President Dr. John M. Beehler said services from Regions are an important component in the university’s recovery.
“Regions’ line of credit is a testament to their commitment to our community and to JSU’s recovery. We are proud of our strong partnership with Regions Bank,” Beehler said.
Anniston Market Executive Linda Jenkins said Regions’ commitment to communities across Calhoun County is a top priority for bank associates.
“Throughout the tornado recovery, local teams from Regions have stayed true to our mission of making life better for the communities we serve. That is a testament to the strong teamwork and dedication of our associates in Calhoun County. We look forward to working with university leaders to make a meaningful difference in the future of the university,” Jenkins said.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $129 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, and mortgage 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 2,000 ATMs. Additional information about Regions and its full line of products and services can be found at www.regions.com.