EnerBank USA expands mortgage loans through takeover by Regions Bank

Headquartered in Salt Lake City and with offices in Provo, Utah and Mooresville, North Carolina, EnerBank employs over 450 people and recently announced the construction of its new headquarters in downtown Salt Lake City. Charlie Knadler, President and CEO of EnerBank, sees a bright future for employees and customers of EnerBank under new ownership.

“EnerBank has consistently delivered industry-leading financial performance and is a valued member of the CMS Energy family,” said Rejji Hayes, EnerBank chairman and executive vice president and chief financial officer of CMS Energy. “While CMS Energy continues to focus on running a world-class energy company, we believe that EnerBank can reach its full potential as part of Regions Bank.”

“Today marks an extremely exciting new chapter in the remarkable history of EnerBank. Since joining EnerBank in 2004, I have seen significant developments in the products and services we offer our customers, as well as in the talents and culture we have developed as a company, ”said Knadler. “We have successfully weathered challenging times like the great recession and, more recently, the COVID-19 pandemic. Meanwhile, we have provided our home improvement customers with consistent service and support, great career opportunities in our local markets, and great returns for our parent company. While we will miss our CMS family, we believe that the experience, expertise and strength of Regions Bank will enable EnerBank to expand our reach in home finance and our mission to help builders grow their business and homeowners to help support the home to better fulfill their dreams. “

About EnerBank USA – America’s Preferred Home Improvement Lender

The Knadler and EnerBank team will report to Regions as part of the Consumer Banking Group reporting to Peters.

EnerBank USA® is the largest FDIC-insured home improvement bank in the country, providing home improvement loans through strategic business partners and independent contractors. We work hand in hand with manufacturers, distributors, franchisors and major retailers of home improvement, remodeling and energy saving products and services. Our mission is to grow the home builders business by growing leads, increasing close rates, and increasing the average job size while helping homeowners make their home improvement dreams come true. Learn more at enerbank.com.

“The EnerBank team has built one of the leading brands in home finance,” said Scott Peters, senior executive vice president and head of Regions Bank’s consumer banking group. “Regions looks forward to providing EnerBank with the resources to accelerate growth in the future. We believe that the combination of Regions and EnerBank will strengthen both organizations and we couldn’t be more excited about the future together. “

Regions Financial Corporation is a member of the S&P 500 Index and one of the nation’s largest full-service providers of consumer and commercial banking, asset management, and mortgage products and services. Regions operates more than 1,300 banking offices and 2,000 ATMs in the Southeast, the Midwest, and Texas. With the addition of the home improvement store lender EnerBank to the Regions family, Regions Bank is expanding its range of credit services for homeowners by adding options for financing construction measures at the point of sale.

Regions Financial Corporation (NYSE: RF) is a $ 153 billion member of the S&P 500 Index and one of the country’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions Financial Corporation serves clients in the South, Midwest and Texas and operates more than 1,300 banking offices and 2,000 ATMs through its subsidiary Regions Bank. Regions Bank is an Equal Housing Lender and a member of the FDIC. For more information about regions and their full range of products and services, please visit www.regions.com.

About Regions Financial Corporation

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