Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
AUSTIN ALBERT M
   2. Issuer Name and Ticker or Trading Symbol
REGIONS FINANCIAL CORP [RF] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
6685 POPLAR AVE., STE. 200		 3. Date of Earliest Transaction (Month/Day/Year)
04/15/2005
(Street)

GERMANTOWN, TN 38138		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock               10,500 I By Acorn Hill Co.
Common Stock               821 I By Austin Trust, Art. VI
Common Stock               2,426 I By Austin, Austin & Todd
Common Stock               1,500 I By HR-10
Common Stock               750 I By Mackinac Investment Co.
Common Stock               2,250 I By Manitou Investment Co.
Common Stock               399 I By Spouse
Common Stock               573 I Cust. Acct. Albert M. Austin, III, Ttee (1)
Common Stock               43,307 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Phantom Stock Units (DDSIP) (2) 02/25/2005   J(2) V 5.87     (2)   (2) Common Stock 5.87 $ 0 568.87 D  
Phantom Stock Units (DDSIP) (2) 04/15/2005   P   134.85     (2)   (2) Common Stock 134.85 $ 32.44 703.72 D  
Stock Option $ 25.59             07/01/2004 10/10/2011 Common Stock 7,800   7,800 D  
Stock Option $ 29.91             01/02/2002 01/02/2012 Common Stock 900   900 D  
Stock Option $ 24.81             07/01/2004 10/08/2012 Common Stock 8,400   8,400 D  
Stock Option $ 33.48             10/14/2003 10/14/2013 Common Stock 6,200   6,200 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
AUSTIN ALBERT M
6685 POPLAR AVE., STE. 200
GERMANTOWN, TN 38138		   X      

Signatures

 By: Ronald C. Jackson   04/19/2005
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Custody Account for Albert M. Austin, III, Trustee under the Will of Elizabeth J. Humphrey
(2) The reported phantom stock units were acquired under Regions' Directors Deferred Stock Investment Plan.

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