Home Improvement Growth brings Regions Bank in Salt Lake￼
Salt Lake City — Regions Bank’s home improvement lending division, EnerBank USA, officially opened new offices in the top three floors of 650 Main on Monday – the latest sign of growth for Salt Lake City-based EnerBank.
Founded in 2002, EnerBank became part of Regions in October 2021, accelerating Regions’ focus on serving as the premier bank lender to homeowners. EnerBank provides point-of-sale financing options through a network of contractors nationwide, giving homeowners seamless financing solutions for home improvements ranging from planned renovations, expansions, and upgrades to emergency needs. The acquisition of EnerBank by Regions complements investments Regions has also made in its mortgage and digital home equity lending solutions.
“Demand for home improvement lending is strong as people across the country make new investments in their homes,” says Kate Danella, head of Regions’ Consumer Banking Group. “We expect this demand to continue, and throughout its history, EnerBank has built solid business growth to meet a wide range of financing needs. Regions Bank is proud to invest in EnerBank’s continued success while introducing the EnerBank name to more clients across our retail banking footprint and beyond. And we are excited to contribute to downtown Salt Lake City’s continued growth as EnerBank officially moves into its new offices at 650 Main.”
A subsidiary of Regions Financial Corporation, Regions Bank is one of America’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services.
EnerBank currently works with over 8,000 contractors throughout the United States, and the number is growing due to Regions’ existing contractor clients choosing to work with EnerBank as their home-improvement lender. Currently, more than 160 Regions clients are working to join EnerBank’s network so they, too, can offer point-of-sale financing options for their customers’ home improvement needs thanks to the Regions Bank-EnerBank combination.
EnerBank requires its nationwide network of contractors to be licensed and insured, have five or more years of experience completing certain project types, generate $500,000 or more in annual residential sales, and have good credit. They must also have a strong service record along with certain training and other criteria to join the network.
Since its founding, EnerBank has financed over $13 billion in home improvements for more than 1 million homeowners.
“The success of EnerBank is the result of dedicated teams, a commitment to convenience, and the strong demand among homeowners for customized financing solutions during all economic cycles,” says Charlie Knadler, head of EnerBank Consumer Home Improvement Lending for Regions. “Now as part of the Regions Bank family, and with the benefit of new professional space designed for today’s workforce at 650 Main, we can continue growing while also serving as one of Utah’s ‘Top Workplaces.’ Together, EnerBank and Regions Bank are committed to Salt Lake City and reaching even more customers across the country.”
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $164 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. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, which reflect Regions’ current views with respect to future events and financial performance. The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objective,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar expressions often signify forward-looking statements. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management’s expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made and are subject to various known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. Factors that could cause actual results to differ from those described in forward-looking statements include those risks identified in Regions’ Annual Report on Form 10-K for the year ended December 31, 2021, and in subsequent filings with the Securities and Exchange Commission. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Regions assume no obligation to update or revise any forward-looking statements that are made from time to time.