Deposit Guaranty Bank was the brainchild of 14 prominent Jackson businessmen who in 1925 decided to break into the city’s traditionally tight banking community.
In 1929, Mississippi’s second-largest bank moved into a new home on Capital Street, and the Deposit Guaranty Bank building became a Jackson landmark. By the start of World War II, DGB and its familiar “Grow with Us” slogan became the state’s most recognizable financial institution.
The adjacent 22-story DGB (now Regions) Plaza building, with its unique retail mall and skywalk, was completed in 1975 and featured 335,000 square feet of prime office space.
The familiar Deposit Guaranty name changed to AmSouth after the bank was purchased in 2000 and then to Regions six years later. In 2006, Regions Bank announced the acquisition of AmSouth, another Birmingham-based bank, for $10 billion.
Times changed and so did the name on both buildings.
And now, after 80 years in the same location, Regions Bank is exiting downtown Jackson by the end of the year for a new home in the 200 Renaissance at Colony Park building in suburban Ridgeland.
Regions spokesperson Evelyn Mitchell insists the bank will maintain a presence in downtown Jackson despite the move.
“Regions is moving some of their departments to 200 Renaissance because it is important for us to be where our customers are located,” she said. “Spreading our operations between Jackson and Ridgeland allows Regions to be where our customers are.”
One of the bank’s new co-tenants in the Renaissance, Butler Snow, closed its law office doors in the Regions Plaza last Friday. Another long-time Plaza tenant, accounting firm HORNE, LLP, will soon follow.
“Regions has reinvested in the City of Jackson by renovating our current office space in downtown,” Mitchell said. “We aren’t vacating the city. We are simply making our operations and services more convenient for our customers.”
Regions Bank operates approximately 2,000 branches and 2,400 ATMs across a 16-state network in the South, Midwest and Texas. Its securities brokerage and asset management subsidiary, Morgan Keegan & Company, Inc., provides services in over 450 offices.
By NASH NUNNERY I STAFF WRITER
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