Regions Financial Corporation
Regions Financial Corporation (NYSE: RF), with $153 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services.
EnerBank USA® is the largest specialized home improvement FDIC-insured bank in the country, providing home improvement loans through strategic business partners and independent home improvement contractors. EnerBank’s mission is to grow contractors’ businesses by increasing leads, boosting close rates, and growing average job size, while helping homeowners fulfill their home improvement dreams.
Loan size is on average $14,000 with weighted average life of ~3 years
On average, 6-7% of the loan yield is paid by the consumer, 2-3% is paid by the contractor.
$2.7B of outstanding non-transaction deposits; WAL of deposits is ~2 years; Regions will replace EnerBank’s funding base over time
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