Regions Financial Corporation (NYSE: RF) today named Lynetta Tipton Steed executive vice president and head of Business and Community Banking. The division provides comprehensive financial services to small business clients through dedicated relationship managers as well as branches. Steed fills the role previously held by John Asbury, who was named head of Business Services in May.

"Regions is one of the largest banks for small businesses in the country and we have a long-standing commitment to helping small businesses succeed," said Asbury. "Lynetta brings a broad background in both Business and Consumer Banking to this important role, and I'm pleased to have a banker of her experience, performance, and tenure leading our Business and Community Banking division."

Steed is an 18-year veteran of Regions and has served as Business Banking executive for Central Florida since 2003. Prior to this she held positions as both a Consumer Banking executive and a Business Banking executive in Northwest Florida. She started her career with Regions in 1992 in the Orlando market, first a branch manager and then a business banker. Steed holds a bachelor's degree in marketing, magna cum laude, from the University of Central Florida in Orlando.

Regions has a long track record of providing capital to small businesses along with solutions to help small business owners manage their financial needs through all economic cycles.

In 2009, Regions booked $6.9 billion in new and renewed small business loans, demonstrating its willingness to extend credit.

For six consecutive years, the SBA has ranked Regions third among small business lenders in the U.S. in an annual small business lending survey -- the highest ranking among conventional bank lenders.

Regions was ranked fifth in J.D. Power & Associates' 2009 small business customer satisfaction ratings, improving more than any other bank in the country.

Regions has a dedicated Business Hardship Program with a team of specialists providing solutions to business customers faced with financial challenges.

Any declined small business loan application is reviewed through Regions' Second Review Process to ensure no opportunity for business growth is overlooked.