Regions Financial, AmSouth Agree to Merge

BIRMINGHAM, Ala. -- A pair of major Alabama-based banks based did not have to look far for a merger partner. They looked across their hometown of Birmingham and cut a deal.

Regions Financial and AmSouth say they have agreed to merge in a $9.8 billion stock deal, creating a bank holding company that ranks in the top ten in the U.S.

The combined company would have 2,000 branches in the South, Midwest and Texas. Their combined workforce would total 37,000 people. They say the new company will retain the Regions Financial name.

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