Lehman Brothers

2008 Global Financial Services Conference

September 9, 2008

Exhibit 99.1

FORWARD LOOKING STATEMENTS

The

information

contained

in

this

presentation

may

include

forward-looking

statements

which

reflect

Regions'

current

views

with

respect

to

future

events

and

financial

performance.

The

Private

Securities

Litigation

Reform

Act

of

1995

("the

Act")

provides

a

safe

harbor

for

forward-looking

statements

which

are

identified

as

such

and

are

accompanied

by

the

identification

of

important

factors

that

could

cause

actual

results

to

differ

materially

from

the

forward-looking

statements.

For

these

statements,

we,

together

with

our

subsidiaries,

unless

the

context

implies

otherwise,

claim

the

protection

afforded

by

the

safe

harbor

in

the

Act.

Forward-looking

statements

are

not

based

on

historical

information, but

rather are

related

to

future

operations,

strategies,

financial

results,

or

other

developments.

Forward-looking

statements

are

based

on

management's

expectations

as

well

as

certain

assumptions

and

estimates

made

by,

and

information

available

to,

management

at

the

time

the

statements

are

made.

Those

statements

are

based

on

general

assumptions

and are

subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements.

These risks, uncertainties

and other factors include, but are not limited to, those described below:

Regions' ability to achieve the earnings expectations related to businesses that have been acquired, including its merger with AmSouth Bancorporation, or that may be

acquired in the future.

Regions' ability to expand into new markets and to maintain profit margins in the face of competitive pressures.

Regions’

ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support Regions’

business.

Regions' ability to keep pace with technological changes.

Regions' ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by Regions' customers and potential

customers.

Regions' ability to effectively manage interest rate risk, market risk, credit risk, operational risk, legal risk, liquidity risk, and regulatory and compliance risk.

The current stresses in the financial and residential real estate markets, including possible continued deterioration in residential property values.

The

cost

and

other

effects

of

material

contingencies,

including

litigation

contingencies.

The effects of increased competition from both banks and non-banks.

Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins.

Possible changes in general economic and business conditions

in

the

United States in general and in the communities Regions serves in particular.

Possible changes in the creditworthiness of customers and the possible impairment of collectibility of loans.

The effects of geopolitical instability and risks such as terrorist attacks.

Possible changes in trade, monetary and fiscal policies, laws, and regulations, and other activities of governments, agencies, and similar organizations, including changes in

accounting standards, may have an adverse effect on business.

Possible changes in consumer and business spending and saving habits could affect Regions' ability to increase assets and to attract deposits.

The effects of weather and natural disasters such as droughts and hurricanes.

The words "believe," "expect," "anticipate," "project," and similar expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking

statements, which speak only as of the date made. Regions assumes no obligation to update or revise any forward-looking statements that are made from time to time.

›

Company Profile

›

Financial Performance

›

Credit Quality

›

Capital

›

Strategic Initiatives

Regions is Among the Largest U.S. Banks

›

Market Capitalization

$7.5 billion

›

Assets

$144 billion

›

Loans, net of unearned income

$98 billion

›

Deposits

$90 billion

›

Branches

1,936

›

ATMs

2,410

NOTE:

As of June 30, 2008.

Franchise Footprint

Source:  SNL DataSource and Regions as of June 30, 2007.

State

Dep. ($B)

Mkt. Share

Rank

AL

$18.2

25%

#1

FL

17.7

5

#4

TN

16.7

16

#2

LA

7.6

10

#3

MS

6.2

15

#1

GA

5.5

3

#6

AR

4.3

9

#2

TX

3.0

1

#18

IL

2.4

1

#24

MO

2.3

2

#8

IN

2.0

2

#9

Other

2.4

—

—

Regions compares

favorably in terms of

local market share

relative to other top 10

banking franchises

1

Deposit weighted by county. Excludes deposits from branches with > $10bn of deposits. Based on June 30, 2007 data.

16.6%

Median

7.9

Citigroup

13.2

National City

14.3

SunTrust

16.0

JP Morgan Chase

16.4

Bank of America

16.6

U.S. Bancorp

17.2

Fifth Third

18.3

Wachovia

18.5

Regions

19.1

Wells Fargo

21.8%

BB&T

Name

Weighted

Average

Market Share

(1)

Weighted Average Market Share

378 Office Locations

Profile

›

1,256 financial advisors

›

378 offices in 19 states

›

$74 billion of customer assets

›

$77 billion of trust assets

›

$69 million assets per financial advisor

Recognition

›

Ranked #1 underwriter of municipal bonds in the

Southeast

›

#11 book-running manager in U.S. ($8.6 billion,

445 issues)

›

6 analysts recognized as top-ranked stock pickers

and earnings estimators in the U.S.

Morgan Keegan –

Among the Largest Regional Full-Service Brokerage and Investment

Banking Firms

Morgan Keegan –

Continued Growth with its Brokerage

and Investment Banking Services

Revenue ($M)

Pre-Tax Income ($M)

Financial Performance

Revenue Composition (2008)

Private

Client

26%

Fixed

Income

Capital

Markets

28%

Equity

Capital

Markets

10%

Regions

MK Trust

17%

Other

6%

Asset Mgmt

15%

$1,029

$1,300

$678

2006

2007

1stH 2008

$239

$262

$110

2006

2007

1stH 2008

As of June 30, 2008

›

Continuation of net interest margin pressure

›

Solid fee income

›

Exceeding merger cost save targets

›

Credit metrics deteriorating

›

Strengthening capital

Second Quarter Financial Performance

Initiatives to Mitigate Risk

›

Exited subprime

›

Shut down Regions Funding

›

Segmented CRE and Small Business

›

Shut down International Lending

›

Focused on centrally managing our Homebuilder

portfolio

›

Proactive management of home equity exposure

1.65%

0.53%

0.45%

0.27%

0.23%

0.86%

0.62%

0.62%

1.25%

0.90%

0.48%

0.37%

0.35%

0.22%

0.44%

0.00%

0.20%

0.40%

0.60%

0.80%

1.00%

1.20%

1.40%

1.60%

1.80%

2Q07

3Q07

4Q07

1Q08

2Q08

NPAs/Loans and OREO

Net Charge-Offs/Average Loans

Delinquent Loans (90+ Past Due)

Credit Quality Trends

Source: US Census Bureau Reports

Decline in Housing Market

500

550

600

650

700

750

800

850

900

950

J07

F07

M07

A07

M07

J07

J07

A07

S07

O07

N07

D07

J08

F08

M08

A08

M08

J08

$200,000

$210,000

$220,000

$230,000

$240,000

$250,000

$260,000

$270,000

New Home Sales

Median New Home Price

Source: Florida Association of Realtors

Florida Housing declines by MSA

Areas of Focus

›

Commercial Real Estate

›

Homebuilders

›

Condominiums

›

Home Equity

Residential Homebuilder Portfolio -

$5.8 billion

Geographic Breakdown

1

Central consists of Alabama, Georgia, and South Carolina

2

Midsouth

consists of North Carolina, Virginia and Tennessee

3

Midwest consists of Arkansas, Illinois, Indiana, Iowa, Kentucky, Missouri, and Texas

4

Southwest consists of Louisiana and Mississippi

As of June 30, 2008.

($ in millions)

0

600

1,200

1,800

2,400

Central

Florida

Midsouth

Midwest

Southwest

Other

Accruing

Non-accruing

Action Plan –

Residential Homebuilder

›

Increased Special Asset staffing levels

›

Established Distressed Loan Disposition program

›

Increased Credit Servicing programs

›

Homebuilder monthly reporting

›

Condo quarterly status reporting

›

Quarterly CRE Retail Portfolio Review

›

Centralized Homebuilder Portfolio Management

›

Tightened credit policy

›

CRE Lending and Credit Specialists

Residential Homebuilder Portfolio -

$5.8 billion

5

5.5

6

6.5

7

7.5

4th Quarter 2007

1st Quarter 2008

2nd Quarter 2008

$ in millions

Aggressive Condo Exposure Management

Reduction of 44%

since the merger

1000

1200

1400

1600

1800

2000

2200

2400

Nov 06

(merger)

4Q06

1Q07

2Q07

3Q07

4Q07

1Q08

2Q08

Example of a Home Equity ‘Value’

Charge-off

If the first mortgage holder forecloses, there is no value left to satisfy our

Home Equity loan.  We must charge off our balance of $140,000.

At Origination

Today

Appraised Value

1,000,000

$     

600,000

$      

Less:  First Mortgage

600,000

$        

600,000

$      

Equity Remaining

400,000

$        

-

$             

Less:  Home Equity Loan

140,000

$        

140,000

$      

Equity Remaining

260,000

$        

(140,000)

$    

Combined Loan-to-Value

74%

123%

Florida –

$5.4B

All Other States -

$10B

NCO %

0.50

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

$1.9

1st

Lien

2nd

Lien

$3.5

$4.5

1st

Lien

2nd

Lien

$5.5

Note: Bar height represents charge-off percentage and

width represents ending balances as of June 30, 2008.

$ Balances

(billions)

Home Equity Portfolio -

$15.4 billion

Action Plan –

Home Equity

›

Florida home equity collections managed by a

dedicated group

›

Collection calls start at Day 5 for Florida

›

Payment hardship tools available on regions.com

›

DVD sent to customers asking them to contact us

›

Select Florida branches calling high risk customers

›

Enhanced loss mitigation process

Capital Management

Strategy

›

Maintenance of strong capital levels commensurate with franchise

profile and current operating environment

›

Emphasis on risk-weighted (Tier 1) and tangible capital ratios

›

Remain opportunistic with respect to new non-dilutive issuances

Recent Actions

›

Reduced dividend to preserve capital

›

Expected to add 65 bps/year

›

Issuances

›

Regions Financial –

April 2008 -

8.875% Retail Enhanced Trust

Preferred -

$345 million

›

Regions Bank –

May 2008 –

7.50% Subordinated Note -

$750

million

Five Corporate-wide Strategic Initiatives 

›

Leverage full depth of Morgan Keegan capabilities among all

Lines of Business

›

Grow the emerging and mass affluent customer segment

through a fully integrated approach

›

Increase core customer deposits to optimize the profitability

of balance sheet growth

›

Enhance overall company productivity

›

Deliver reliable, consistent service quality across all Lines

of Business to improve customer satisfaction and retention

New Efficiency and Effectiveness Initiative

New Revenue Initiative

›

Growth driven by strategic initiatives

›

Relatively neutral balance sheet positioning

›

Strong Morgan Keegan contribution

›

Merger opportunities mitigate industry downturn,

allow for increased operating leverage

›

Exceeding merger-related cost saves

›

Continued strong liquidity and capital ratios

Well Positioned Despite Challenging Environment

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