Governing
Purpose
The extent to which governance drives firms to establish and pursue a positive and clear purpose, and the extent to which corporate purpose guides strategy.
Our Approach to Shared Value and Strategy
Our vision, mission, and values continue to be the foundational elements of our strategic planning and are integral to our ability to serve our customers, communities, associates, and shareholders.
Our Vision
Our vision statement is aspirational: “to be the premier regional financial institution in America through being deeply embedded in its communities, operating as one team with the highest integrity, providing unique and extraordinary service to all of its customers, and offering an unparalleled opportunity for professional growth for its associates.”
Our Mission
Our mission is about what we do, how we do it, and for whom: “to achieve superior economic value for our shareholders over time by making life better for our customers, associates, and communities.”
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Expanding Regions’ Mission to include our Purpose:
- Our purpose answers the question of why we exist: “to create shared value for all of our stakeholders—customers, communities, shareholders, and our associates as well.”
- Our mission statement includes our purpose to create shared value: “Our mission at Regions is to achieve superior economic value for our shareholders over time by making life better for our customers, our associates, and our communities, and creating shared value as we help them meet their financial goals and aspirations.”
Simply put, we want
to be the best regional
bank in America.
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Our key points to creating shared value:
- We are not motivated by profit alone. We believe that business is only done well when all stakeholders benefit: our customers, communities, shareholders, and our associates.
- Integrity, trust and respect are fundamental to how we operate. We want to win, but we want to win the right way.
- We only offer customers products and services that they need, want, and understand.
- When our communities are strong and thriving, local businesses also benefit. By investing resources in our communities, we ultimately deliver value to our shareholders as well.
Our Values
Our values reflect how we will reach our vision, deliver our mission, and execute our purpose every day we come to work. These values serve as the measuring stick by which to judge our behavior and results:
- Put people first.
- Do what is right.
- Focus on your customer.
- Reach higher.
- Enjoy life.
Our Strategy
Regions’ strategy is built on our vision to be the premier regional financial institution in America; our enduring mission of shared value; and our five core values.
To compete in a dynamic and evolving operating environment, Regions will continue to focus on what we can control. The 2021-2023 Strategic Plan identifies three key strategies:
Our strategic priorities balance the needs of our customers, communities, associates, and shareholders.
- Lean into our strengths by leveraging our culture to create shared value, focusing on our customers, building the best team, investing in our markets, and managing dynamic risk.
- Execute and compete with purpose and passion, including effectively managing credit risk, delivering competitive segment strategies, working to continuously improve, executing strategic capital planning, protecting our balance sheet through hedging, pursuing merger and acquisition activities, and maintaining mature ESG strategies and practices.
- Innovate through digital and data by making disciplined investments in new capabilities, optimizing operations and leveraging technology, beginning a multi-year initiative to modernize core systems, enabling rapid delivery, and evolving our approach to meet tomorrow’s customer needs.
We believe that by focusing on our strategic priorities, Regions will better serve our customers, associates, communities, and shareholders.
Each of Regions’ business groups is responsible for creating its own strategic plan. These plans also include ESG elements that contribute to Regions’ overall strategic plan, which is presented to the Board. During the strategic planning process, and throughout the year, our strategy and business decisions are informed by feedback from stakeholders including customers, associates, community partners, and shareholders.
Values-Based Governance
At Regions, we strive to use our corporate values as a lens through which decisions should be made. Regions’ Board provides guidance for sound decision-making and accountability and oversees management, who help ensure we are in compliance with laws and regulations. Maintaining legal and regulatory compliance is a minimum standard, and we endeavor to exceed this baseline by implementing leading governance practices. Further, we strive to conduct business according to the highest ethical standards, as evidenced by our Code of Business Conduct and Ethics (Code of Conduct) applicable to all associates and Directors, as well as our Code of Ethics for Senior Financial Officers and our Supplier Code of Conduct applicable to our suppliers and vendors. Our associates and Directors take these ethical responsibilities seriously and are mindful of our values; in particular, to do what is right. We maintain an environment of openness and transparency and take every opportunity to protect our culture by promoting Regions’ values. Our customers, shareholders, communities, and associates expect no less of us if they are to continue placing their trust and confidence in us.
The Board and management understand that good governance is the foundation of sustainable business and is necessary for creating shareholder value over the long term.