Regions and Union Planters Merger Revealed Friday

January 23, 2004 - Posted at 8:58 a.m. CDT

JONESBORO, AR - K8 News has learned that a merger between two of the south's most prominent financial institutions, each with several properties in Jonesboro and Region 8, becomes effective today.

Regions Financial Corporation and Union Planters Corporation have signed a definitive merger agreement, creating the 12th largest bank holding company nationwide in terms of deposits.

A source at Regions Bank in Jonesboro told K8 News that employees of the two banks were informed of the transaction this morning.

The new company will be known as Regions Financial Corporation.  Regions corporate officials are expected to be in Jonesboro this afternoon.