Skip to Main Content
Doing More Today
  • News
  • Community
    • Community Engagement
    • Small Business
    • Economic Development
    • What a Difference a Day Makes
    • Share the Good
  • Insights & Innovation
    • Economic Commentary
    • Insights
    • Innovation
  • Financial Wellness
    • Financial Wellness
    • Fraud Prevention
  • See the Good
    • Culture
    • Good Company
    • Good Towns
    • Good Pets
    • Ecards
    • Recipes
    • Riding Forward
Subscribe Now Visit @RegionsNews on Twitter
Regions Bank

Regions Bank: Doing More Today: Good stories. Better insights. More possibilities.

Share
Share on Facebook
Share on Twitter
Share on LinkedIn
Share via Email
Subscribe
Photo of Steve Ross and Regions Center

Steve Ross joins Regions Bank as head of Regions’ New Markets Tax Credit practice

Category: News

Regions Bank Launches New Markets Tax Credit Practice

Practice will focus on investing in low-income communities, further expanding Regions’ tax credit investment services.

By Dana Obrist and Jeremy King | November 1, 2021

BIRMINGHAM, Ala. – Nov. 1, 2021 – Regions Bank on Monday announced the launch of a New Markets Tax Credit (NMTC) practice and the addition of a banking and community revitalization veteran whose experience will help Regions deliver high-value NMTC services as part of the bank’s comprehensive tax credit investments practice.

Steve Ross joins Regions as head of the NMTC team. Most recently, Ross served as head of the NMTC platform for Truist Community Capital. There, he managed a group of business development, underwriting and asset management professionals who made social impact investments throughout the U.S.

Ross and his team will focus on similar investment initiatives at Regions, backed by the company’s commitment to superior service and additional tax credit investment services, which include low-income housing tax credits (LIHTC) and solar renewables tax credit equities.

“By establishing a New Markets Tax Credit practice, Regions is positioned to better support business clients seeking to make impactful investments throughout the communities we serve,” said Ward Cheatham, head of Corporate Banking for Regions. “Adding these capabilities not only expands our range of services, it complements and enhances our broader commitment to creating more inclusive prosperity. The result will be more investments from the business community into programs and initiatives that are making a real and valuable difference.”

By establishing a New Markets Tax Credit practice, Regions is positioned to better support business clients seeking to make impactful investments throughout the communities we serve.
Ward Cheatham, head of Corporate Banking for Regions

Established by Congress in December 2000, the New Markets Tax Credit program is designed to attract private-sector capital investments into the nation’s urban and rural low-income areas, helping expand access to quality jobs, healthcare, education and other critical services in underserved communities. The NMTC program increases the flow of capital to businesses and low-income communities by providing a tax incentive to private investors, making the program a valuable investment option for businesses, communities and investors alike.

“At Regions Bank, one of our greatest assets as we work with clients is our commitment to creating what we call ‘shared value’ – that is, we believe banking services should benefit not only the customer and the bank but also the broader community,” said Ross. “The New Markets Tax Credit program is an attractive way to support community development in underserved areas across the country. I am excited to lead this journey with Regions, which is already embedded in many of these communities through Regions Affordable Housing financing and Community Affairs initiatives that align with our mission to make life better for the people and places we serve.”

Before his seven years with Truist Community Capital, Ross held project management roles in not-for-profit and for-profit organizations focused on community revitalization and the creation or preservation of affordable housing. Ross is based at Regions’ offices in Washington, D.C.

Ross earned a Bachelor of Arts in History from Northwestern University. His community involvement has included roles on the boards of directors for the NMTC Coalition and the Partnership for Job Creation. Additionally, Ross served on the boards of ToolBank USA and the Atlanta Community ToolBank.

 

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 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 more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Share
Share on Facebook
Share on Twitter
Share on LinkedIn
Share via Email
Subscribe

Trending Articles

  • 1.

    In Good Company

  • 2.

    Where Community is Always First!

  • 3.

    5 Tips to Send P2P Payments Safely

  • 4.

    Regions Bank Continues Celebration of Black History Through the Riding Forward Scholarship Contest

  • 5.

    A Brush with Tragedy, an Inspiration for Hope

Related Articles

photos of, Live Oak, Bastion check presentation, and apartment homes,
Category: Community Engagement

Branches of Service

Photos of Carolyn Pierce and Clarksville, Tennessee
Category: News

A Cornerstone Career

photo of Regions Branch with a green overlay and a...
Category: News

“We’re with you.” Regions Bank and the Regions Foundation Announce Storm Response

photos of store interior with clothes and accessories
Category: Community Engagement

Attiring and Inspiring

Photos of Jeff, Myke, and Norman and a photo of...
Category: Community Engagement

Where Community is Always First!

Open Banking
Category: News

Open to New Possibilities

  • Regions Bank Increases its Prime Lending Rate
  • Regions Financial to Announce First Quarter 2023 Financial Results on April 21, 2023
  • Local Support. Global Impact. Regions Bank Launches International Subsidiaries Banking Group
  • Building a Career in Equipment Finance
Regions.com | About Regions | Investor Relations | Privacy & Security | Website Terms of Use | Contact Regions
© 2023 Regions Bank Member FDIC |
All Rights Reserved | Member FDIC | Equal Housing Lender | Online Privacy