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 *
RIPPEE DOYLE R
  2. Issuer Name and Ticker or Trading Symbol
REGIONS FINANCIAL CORP [RF]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP, Corporate Banking
(Last)
(First)
(Middle)
REGIONS FINANCIAL CORPORATION, P.O. BOX 10247
3. Date of Earliest Transaction (Month/Day/Year)
11/04/2006
(Street)

BIRMINGHAM, AL 35202
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 11/04/2006   J(1)   5,825.8 A (1) 43,176.8 D  
Common Stock (as Custodian for Child) 11/04/2006   J(1)   447.34 A (1) 447.34 D  
Common Stock               591 (2) I By 401(k)
Common Stock (phantom stock)               210 (2) I By 401(k) Supplemental Plan (3)

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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
Stock Option (Right to buy) $ 25.66             02/19/2005 02/19/2010 Common Stock 3,896   3,896 D  
Stock Option (Right to buy) $ 25.66             02/19/2006 02/19/2010 Common Stock 3,899   3,899 D  
Stock Option (Right to buy) $ 28.17               (4) 04/21/2011 Common Stock 3,549   3,549 D  
Stock Option (Right to buy) $ 33.82               (5) 10/15/2011 Common Stock 62,000   62,000 D  
Stock Option (Right to buy) $ 34.46               (6) 01/18/2013 Common Stock 45,147   45,147 D  
Stock Option (Right to buy) $ 25.66             02/19/2004 02/19/2010 Common Stock 3,898   3,898 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
RIPPEE DOYLE R
REGIONS FINANCIAL CORPORATION
P.O. BOX 10247
BIRMINGHAM, AL 35202
      EVP, Corporate Banking  

Signatures

 By: D. Bryan Jordan   11/21/2006
**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) Shares acquired upon conversion of shares of AmSouth Bancorporation in the merger between AmSouth and Regions Financial Corporation, at the rate of 0.7974 of a share of Regions common stock for each share of AmSouth common stock. Market value of Regions common stock was $37.38 on the effective date of the merger.
(2) Previously reported in Table II as derivative phantom stock; interests under benefit plans recharacterized as non-derivative and reported on Table I for treatment consistent with other of the issuer's reporting persons.
(3) Represents share equivalent of phantom stock in supplemental 401(k) plan.
(4) The option becomes exercisable in three equal installments on April 21, 2005, 2006 and 2007.
(5) The option becomes exercisable in two equal installments on October 15, 2006 and 2007.
(6) The option becomes exercisable in three equal installments on January 18, 2007, 2008 and 2009.

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