Regions closes 2 area branches in Q3

Photo courtesy Google Maps

A Regions Bank site in Aurora is among branches that have recently closed.

Last edited 1:28 p.m., Oct. 1, 2019

Regions Financial Corp. (NYSE: RF) closed 33 branches, including two in the Springfield area, during the third quarter, according to the Alabama State Banking Department.

The Birmingham, Alabama-based operator of Regions Bank shuttered a Branson location, 3605 W. Highway 76, and an Aurora branch, 1625 S. Elliott Ave., on Aug. 26, according to the latest monthly banking report on file with the state department. The Birmingham Business Journal was the first to report on the closures in an article yesterday.

Regions spokeswoman Evelyn Mitchell said the Branson branch consolidated into another that's located downtown.

“We continuously review our branch network and identify opportunities to consolidate locations based on traffic, new technology, volume and proximity of other branches while also investing in digital banking capabilities, ATM and branch enhancements, to meet the financial needs of our customers,” she said in a statement.

In addition to the two local branches, Regions closed six other Missouri offices during the quarter, according to the banking report. The Alabama State Banking Department also received a new branch request for a Missouri site in Webster Groves.

Regions.com lists six branches operating in the area, including two in Springfield.

The company is scheduled to release its third quarter earnings report on Oct. 22. In the second quarter, net income available to common shareholders was up 4% to $374 million, according to a news release.

RF shares were trading at $15.82 as of 9:05 a.m., compared with a 52-week range of $12.39 to $18.93.