Regions VP comments on bank's stability

MONTGOMERY, AL (WSFA) - Following reports of third quarter profits taking an 80% dive, Regions bank is reminding customers and shareholders of its strength and stability.

Central Alabama area Executive Vice President Arthur J. Ducote says the bank is still making money.

Ducote says for the first nine months of 2008 the bank made $610 million in its year-to-date logs and has $14 billion in capital.

He also adds that the bank boasts the highest grade available from the U.S. government for the safety and soundness of a bank.

As for Regions' participation in the government's financial rescue bill, Ducote says the bank didn't go to the government for help. Instead, the institution took advantage of a program that is open to banks that are in good financial shape.

Regions has more than $144 billion in assets and is one of the top ten banks in the country with more than 2,000 locations in 16 states.

It also has more local branches than any other bank in the Montgomery area.