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Miguel Alandete joins Regions Bank to Manage Government Guaranty Lending

^{Published on 2010-07-29 06:15:45 - Market Wire}
 

BIRMINGHAM, Ala.--([ BUSINESS WIRE ])--Regions Financial Corporation (NYSE: RF) has named Miguel Alandete senior vice president, Government Guaranty Lending Manager within the Business and Community Banking division.

"Regions has a long history of supporting small businesses and Miguela™s leadership will allow us to increase our already strong emphasis on government guaranty lending to help communities and small businesses succeed."

In this newly created position, Alandete will oversee government lending programs across Regionsa™ 16-state footprint and serve as the banka™s liaison to the U.S. Small Business Administration (SBA), the Farmers Home Administration (FmHA), the U.S. Department of Agriculture (USDA), and various Certified Development Companies (CDCs). He will report to Lynetta Tipton Steed, head of Business and Community Banking.

Regions provides government guaranteed loans through dedicated relationship managers and through the banka™s network of 1,800 branches. Regions is a member of the SBAa™s Preferred Lender Program and was ranked one of the top SBA 504 lenders by volume in Alabama, Florida and Georgia in 2009.

aGovernment guaranteed loans are important tools to support economic development, job creation, and small business growth, which are critical to a sustained economic recovery,a said Steed. aRegions has a long history of supporting small businesses and Miguela™s leadership will allow us to increase our already strong emphasis on government guaranty lending to help communities and small businesses succeed.a

Alandete has more than 22 years of experience in financial services with a focus on small business and government guaranty lending. He joins Regions from GA Resource Capital in Marietta, Ga. where he served as regional manager responsible for business development and underwriting of SBA 504 loans throughout the state. Prior to this he held various business development roles at CDCs throughout Georgia and the Pacific Northwest.

Alandete holds a Bachelor of Science degree in accounting from York College of Pennsylvania and mastera™s degree from St. Johna™s College in Santa Fe, N.M. and Annapolis, Md. He is a member of the National Association of Development Companies and the National Association of Government Guaranteed Lenders and is a founding member of the Georgia Lenders Quality Circle, a SBA lenders association.

About Regions Financial Corporation

Regions Financial Corporation, with $135 billion in assets, is a member of the S&P 100 Index and one of the nationa™s largest full-service providers of consumer and commercial banking, trust, securities brokerage, mortgage and insurance products and services. Regions serves customers in 16 states across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,800 banking offices and 2,200 ATMs. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 300 offices. Additional information about Regions and its full line of products and services can be found at [ www.regions.com ].