BACK TO BACK CHAMPS: Alabama-based Regions ranked America’s most reputable bank, again

BIRMINGHAM, Ala. — For the second consecutive year, Regions Bank has been ranked number one on the list of most reputable banks released each year by the American Banker Magazine and the advisory firm Reputation Institute.

“We are fortunate to have some of the best associates in the industry who dedicate themselves to providing an outstanding customer experience,” Regions’ President, CEO, and Chairman Grayson Hall said. “Our associates are making a positive difference for our customers and communities, and I am proud that our team was recognized for that.”

Regions’ overall reputation score and customer reputation score were both the highest of any bank at 73.9 and 85.7 respectively, with each category scored out of a possible 100 points. Perhaps even more impressively, Regions scored the second highest among non-customers.

REALTED: Alabama-based Regions tops national bank reputation rankings… here’s why

According to an article in American Banker, much of Regions’ renewed success can be attributed to one concept: shared value.

Developed by Harvard Business School professor Michael Porter, shared value is the idea that all initiatives — whether products the company sells, nonprofits it supports or procurement practices — should create value in some way for customers, employees, shareholders and the community.

“If everything you do and every product you sell is really focused on bettering the community, that is the most powerful way to affect your reputation,” Porter said.

Regions CEO Grayson Hall is a devout believer in the idea, having incorporated the term into the bank’s mission statement and developing initiatives in the company to implement it. Now his company—and customers—are reaping the benefits.

“It’s really simple,” Hall said, “do the right thing every day, in every decision and with every customer interaction. Regions’ associates embrace the idea of staying focused on serving customers and making a positive difference in the communities where we work, play and live. And if we help our customers, associates and communities succeed, then our shareholders will benefit. This is our primary focus as we build a stronger, more sustainable business.”