Home improvement growth brings Regions Bank to Salt Lake

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Salt Lake City- Bank of Regions home improvement loan division, EnerBank United Statesofficially opened new offices on the top three floors of 650 main Monday – the latest sign of growth for Salt Lake City-based EnerBank.

Founded in 2002, EnerBank became part of the regions in October 2021, accelerating the concentration of the regions on the role of first bank lender to owners. EnerBank offers point-of-sale financing options through a nationwide network of contractors, providing homeowners with seamless financing solutions for home renovations ranging from planned renovations, expansions and upgrades. emergency level. Regions’ acquisition of EnerBank complements investments Regions has also made in its mortgage and digital home equity solutions.

“Demand for home improvement loans is strong as people across the country make new investments in their homes,” said Kate Danella, head of consumer banking group Regions. “We expect this demand to continue and, throughout its history, EnerBank has built strong business growth to meet a wide range of financing needs. Regions Bank is proud to invest in the continued success of EnerBank while introducing the EnerBank name to more customers across our retail banking footprint and beyond. And we’re excited to help support the continued growth of downtown Salt Lake City as EnerBank officially moves into its new offices at 650 Main.

A subsidiary of Regions Financial Corporation, Regions Bank is one of the largest US full-service providers of personal and business banking, wealth management, and mortgage products and services.

EnerBank currently works with over 8,000 contractors across the United States, and the number is growing due to Regions’ existing contractor customers choosing to work with EnerBank as a home improvement lender. Currently, more than 160 Regions customers are striving to join EnerBank’s network so that they too can offer point-of-sale financing options for their customers’ home improvement needs through the combination Regions Bank-EnerBank.

EnerBank requires its nationwide network of contractors to be licensed and insured, have five or more years of experience completing certain types of projects, generate $500,000 or more in annual home sales, and have good credit. They must also have a strong service record as well as certain training and other criteria to join the network.

Since its inception, EnerBank has financed over $13 billion in home improvements for over one million homeowners.

“EnerBank’s success is the result of dedicated teams, a commitment to convenience and strong owner demand for personalized financing solutions through all economic cycles,” said Charlie Knadler, Head of Loans for EnerBank. EnerBank Consumer Home Improvement for Regions. “Now, as part of the Regions Bank family, and with the benefit of a new professional space designed for today’s workforce at 650 Main, we can continue to grow while being the one of the largest in Utah. ‘Best Workplaces.’ Together, EnerBank and Regions Bank are committed to Salt Lake City and reaching even more customers across the country.

About the Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $164 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of retail and commercial banking services, wealth management and mortgage products and services. Regions serves customers in the South, Midwest and Texas and, through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member of the FDIC. Additional information about Regions and its full range of products and services can be found at www.regions.com.

Forward-looking statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect the regions current views regarding future events and financial performance. The words “future”, “anticipate”, “assume”, “intend”, “plan”, “seek”, “believe”, “predict”, “potential”, “target”, “estimate”, “expects”, “targets”, “projects”, “outlook”, “forecast”, “would”, “will”, “could”, “could”, “could”, “should”, “could” and similar expressions often mean before-looking statements. Forward-looking statements are not based on historical information, but rather relate 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 management and information available to it at the time the statements are made and are subject to various known and unknown risks, uncertainties and other factors. which may cause actual results to differ materially from the opinions, beliefs and projections expressed in such statements. Factors that could cause actual results to differ materially from those described in the forward-looking statements include risks identified in the Regions’ Annual Report on Form 10-K for the year ended December 31, 2021 and in subsequent filings with of the Securities and Exchange Commission. You should not place undue reliance on forward-looking statements, which speak only as of the date made. The Regions assume no obligation to update or revise any forward-looking statements that are made from time to time.

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