LEE COUNTY, Ala. – March 7, 2019 – The Regions Foundation, a nonprofit initiative of Regions Bank dedicated to supporting a wide range of community investments, on Thursday announced a donation of $25,000 to support immediate and long-term recovery efforts following an EF-4 tornado that destroyed areas in Beauregard, Smiths Station and nearby communities on Sunday.
From the $25,000 contribution, a $15,000 portion will be allocated toward the newly created Lee County Tornado Recovery Fund administered by the Community Foundation of East Alabama (CFEA). The remainder of funds will be set aside to address long-term challenges as the rebuilding of communities moves forward in the weeks and months to come.
“Regions Bank and the Regions Foundation are committed to supporting our communities in times of need,” said Rett Moncrief, Auburn-Opelika Market Executive for Regions Bank. “Our community has experienced great loss and destruction, but we have also been inspired to see neighbors help neighbors in every possible way. That is the spirit of Lee County and Alabama. Regions is proud to be a part of these communities, and we will stand with our neighbors throughout the recovery process.”
Regions Foundation’s contribution to CFEA will be used to support grants for local nonprofit organizations that are working to meet a variety of disaster-recovery needs. Further, CFEA will use funding to deliver financial assistance to people and government entities impacted by the storms.
“During this crisis, we are working to provide support to help our neighbors in need,” said Barbara Patton, Executive Director of the Community Foundation of East Alabama. “Our tornado recovery fund will support impacted communities and residents in Lee County throughout this difficult time. The strength of our community is clear as recovery gets underway, and we are grateful to the Regions Foundation for stepping up to help the people of Lee County.”
About Regions Foundation
Regions Foundation is an Alabama nonprofit corporation with offices located at 1900 5th Avenue North, Birmingham, Alabama, 35203. It is exempt from Federal income tax as an organization described in section 501(c)(3) of the Internal Revenue Code. Regions Foundation is funded primarily though contributions from Regions Bank. It engages in a community grantmaking program focused on priorities including economic and community development; education and workforce readiness; financial wellness; and related initiatives fostering inclusive growth across the communities it serves.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $126 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. Regions Bank is available to work with any customers facing financial hardships as a result of the March 3rd storms. Regions Mortgage customers impacted by the storms can call 1-800-748-9498 to inquire about disaster-recovery financial services. Likewise, customers with home equity loans and other consumer loans can dial 1-866-298-1113 to discuss storm-related needs. Additional information about Regions and its full line of products and services can be found at www.regions.com.