Better Together: Regions Bank Completes Acquisition of EnerBank USA
Regions Bank and home improvement lender EnerBank USA announced the acquisition of EnerBank by Regions has received regulatory approvals and is completed, effective.
EnerBank employees join Regions as part of its Consumer Banking Group. Regions Bank is a subsidiary of Regions Financial Corporation, one of America’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services.
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Scott Peters, senior executive vice president and head of the Consumer Banking Group for Regions, said EnerBank and its team are an ideal fit as Regions accelerates its strategy to serve as the premier lender to homeowners. With a client base that stretches across the U.S., EnerBank serves contractors and homeowners through a series of loan programs and financing solutions that support a wide range of home improvement needs.
“The addition of EnerBank’s exceptional team and leading-edge technology will help Regions deliver even greater value to customers who are seeking convenient, competitive solutions for efficiently financing home improvement needs,” Peters said. “In recent years, we have seen tremendous demand not only for mortgage and refinancing solutions but also for new options to finance upgrades people are making to their homes. The services provided by EnerBank will enable Regions to deliver a more complete range of options as part of our focus on serving as the premier lender to homeowners.”
Since 2002, Salt Lake City-based EnerBank has offered leading home improvement loan programs to not only U.S.-based contractors but also enterprise-level strategic partners in the home improvement industry. As a pioneer in specialized home improvement lending, EnerBank has worked with hundreds of loan program sponsors, inclusive of thousands of home improvement contractors, serving over a million homeowners and funding over $12 billion in home improvement projects.
EnerBank will maintain its headquarters presence in Salt Lake City, with many team members scheduled to occupy portions of 650 Main, a modern Class A office and retail complex under development downtown. The division will continue to be led by Charlie Knadler who will join Regions as part of the Consumer Banking Group.
“Today starts a new journey as part of a strong and united Regions Bank team,” said Knadler. “Together, we will expand home improvement lending opportunities, products and services to continue our leadership in the industry. We look forward to serving contractors and homeowners nationwide under the Regions Bank brand. And we are excited to be part of an organization that is investing in long-term growth and creating even greater value for the customers and communities we serve.”
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