Sharing a border with the states of Florida and Mississippi, Alabama has a population of 4.7 million as of 2009 and is considered to be a part of the biggest industrial corridor of the country. Previously considered to be an agricultural state, Alabama has now transitioned into varied fields such as manufacturing, technology and extraction. Alabama has many large enterprises including health care, steel production, car production and banking.
Because of the flourishing manufacturing industry, many top banks are also headquartered in the state. This article will provide you some information regarding the financial products and services offered by the Alabama banks.
AmSouth Bank
Considered to be among the largest and most successful banks in the southeast, AmSouth Bank was established in Birmingham, Alabama in 1972. After its merger in 2006 by Regions Financial Corporation, the bank is now rated higher as the eighth biggest bank of the country with more than 2000 branches in different parts of America. Before the merger, the bank became a conglomerate via annexations and purchases of over 50 banks functioning as its subsidiary. The bank provides standard financial products including personal, commercial and small enterprise banking as well as loans and investing services to customers.
BB&T
Based in Winston, Salem, BB&T is considered to be one of the top US banks in the state with $155 billion in assets. Following an acquisition of the Colonial Bank in 2009, the second biggest bank in the state, BB&T is now among the largest banks of the state and has around 1800 branches in the country in Texas, Georgia and Kentucky among other states. Today, it offers a host of services such as commercial and small business banking services along with investment and insurance services.
Regions Financial Corporation
Regions Financial Corporation was established in 1971 after the merger between three oldest banks of the state. The bank now operates as a publicly owned bank with headquarters in Birmingham, Alabama and is amid best ten banks of America. Regions Financial Corporation along with its merged bank AmSouth operates around 2600 ATMs in 16 states under the name of Regions. The bank offers a wide range of financial products and services such as retail banking, commercial banking, and insurance services, mortgage and securities brokerage among many others.
BBVA Compass
BBVA Compass is headquartered in Alabama and is considered to be the third largest bank in the state. The bank runs 716 branch offices in Alabama, Arizona, Texas and other states and is one of the 20 largest commercial banks of America in terms of its deposit market share. Its services include: online banking, personal accounts, investment advisory services and wealth management to name a few. Besides the leading banks listed above, numerous other small and large banks like the First Southern Bank, Premier Bank and MidSouth Bank are there in Alabama.
Our list of Alabama banks, will assist you in finding more about Alabama banks.
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