Regions Financial today announced that it has priced a public offering of 152.9 million shares of its common stock at a price to the public of $5.90 per share.

The common stock offering will generate gross proceeds of approximately $900 million. The closing date for the transaction is expected to be March 19, 2012.

The Offering is part of Regions' plan to repurchase its Series A Preferred Stock issued to the U.S. Department of the Treasury under the Troubled Asset Relief Program (TARP) Capital Purchase Program. The repurchase of the Series A Preferred Stock will be contingent on approval by the Federal Reserve and Treasury Department and is expected to follow the closing of the sale of Morgan Keegan & Co. Inc. and related affiliates, which is anticipated in early April. Regions intends to use the proceeds from the Offering and the sale of Morgan Keegan along with other available funds to repurchase the Series A Preferred Stock.

Goldman, Sachs & Co. is serving as Global Coordinator and joint book-running manager of the Offering, J.P. Morgan Securities LLC is serving as Capital Advisor related to our CCAR plan and joint book-running manager of the Offering, and Barclays Capital Inc. and Deutsche Bank Securities Inc.are serving as joint book-running managers of the Offering. Morgan Keegan is serving as lead manager.