MARIANNA, Fla. – April 3, 2019 – Regions Bank on Wednesday announced the company is assisting Jackson County’s long-term recovery from Hurricane Michael with a $20 million line of credit to further cleanup efforts.
While the county has made significant progress in removing storm debris, an estimated 1.5 million cubic yards of additional debris remains, according to county figures. The line of credit from Regions will allow debris removal to move forward while the county awaits Federal Emergency Management Agency (FEMA) reimbursements and insurance proceeds.
“At Regions, we live here, we work here, and we are committed to serving Jackson County as we continue our recovery together,” said Rhonda Sapp, Commercial Business Manager for Regions Bank in Marianna. “While much work has been done, there is much more left to do. Regions will be here with the people and businesses of Marianna and Jackson County every step of the way.”
The Jackson County Commission released a request for proposal (RFP) in February for funding to assist with payment of recovery expenditures. Regions was selected in a competitive bid process and recently finalized the agreement for the line of credit with the county.
Jackson County Commission Chairman Clint Pate said the support from Regions is an important milestone in the county’s recovery plans.
“The Jackson County Board of Commissioners is pleased with the opportunity to work with Regions Bank to help restore our community following Hurricane Michael,” Pate said. “The line of credit will enable us to begin restoring infrastructure in our county, which sustained significant damage. We look forward to a successful partnership with Regions Bank.”
Regions representatives said the company’s local financial professionals remain available to help Jackson County residents with their own individual financial needs as long-term recovery continues.
“Throughout the hurricane 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 Jackson County,” said Lamar Brooks, Consumer Banking Manager for Regions in the surrounding area. “Our branch in Marianna was one of our hardest-hit locations, but Regions quickly deployed a modular branch facility to meet customers’ financial needs. That facility is still operating with local bankers as we work on a permanent branch-banking facility.”
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 (member FDIC, Equal Housing Lender). Additional information about Regions and its full line of products and services can be found at www.regions.com.