Memphis-area banks step up to assist flood victims

May 3, 2010

Regions Bank and First Tennessee Bank offered loan payment deferrals and other relief to flood victims Monday.

The First Tennessee Foundation also chipped in up to $500,000 for relief agencies.

The foundation will contribute $250,000 to be divided evenly between the American Red Cross and the Salvation Army. The foundation also will match gifts up to $250,000 by First Tennessee and FTN Financial employees and customers.

Contributions can be made through May 15 at any First Tennessee financial center.

Regions' emergency relief products for West Tennessee flood victims include:

Personal and business loan payment deferrals;
Credit card account assistance;
Consumer and business loans and lines of credit to aid recovery;
Penalty-free withdrawals from CDs.

First Tennessee is offering:

Payment deferrals for existing customers in affected areas;
Special low-cost loans available to new borrowers;
Credit-limit increases available to credit card customers;
No surcharges on Nashville-area ATMs;
Procedures to accommodate customers of other financial institutions at First Tennessee branches.

Wayne Risher: 529-2875

Wayne Risher
The Commercial Appeal
May 3, 2010