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 *
UPCHURCH SAMUEL E JR
   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)
Dir Corp & Strat Initiatives
(Last)
(First)
(Middle)
P O BOX 10247		 3. Date of Earliest Transaction (Month/Day/Year)
09/06/2006
(Street)

BIRMINGHAM, AL 352020247		 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 09/06/2006   X   2,252 A $ 31.39 189,852 D  
Common Stock 09/06/2006   X   2,985 A $ 33.48 192,837 D  
Common Stock 09/06/2006   X   13,889 A $ 28.88 206,726 D  
Common Stock 09/06/2006   X   24,692 A $ 25.66 231,418 D  
Common Stock 09/06/2006   X   12,346 A $ 25.66 243,764 D  
Common Stock 09/06/2006   X   8,448 A $ 25.66 252,212 D  
Common Stock 09/06/2006   X   3,898 A $ 25.66 256,110 D  
Common Stock 09/06/2006   X   18,519 A $ 16.28 274,629 D  
Common Stock 09/06/2006   X   12,346 A $ 22.6 286,975 D  
Common Stock 09/06/2006   X   6,173 A $ 22.6 293,148 D  
Common Stock 09/06/2006   X   6,173 A $ 22.6 299,321 D  
Common Stock 09/06/2006   X   17,410 A $ 28.17 316,731 D  
Common Stock 09/06/2006   X   15,433 A $ 25.02 332,164 D  
Common Stock 09/06/2006   X   7,716 A $ 25.02 339,880 D  
Common Stock 09/06/2006   X   7,716 A $ 25.02 347,596 D  
Common Stock 09/06/2006   F   123,945 D $ 36.36 223,651 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 $ 31.39 09/06/2006   X     2,252 10/09/1998 10/09/2007 Common Stock 2,252 $ 31.39 2,624 D  
Stock Option $ 33.48 09/06/2006   X     2,985 04/09/1999 04/09/2008 Common Stock 2,985 $ 33.48 10,904 D  
Stock Option $ 28.88 09/06/2006   X     13,889 08/30/2000 08/30/2009 Common Stock 13,889 $ 28.88 0 D  
Stock Option $ 25.66 09/06/2006   X     24,692 02/19/2004 02/19/2010 Common Stock 24,692 $ 25.66 0 D  
Stock Option $ 25.66 09/06/2006   X     12,346 02/19/2005 02/19/2010 Common Stock 12,346 $ 25.66 0 D  
Stock Option $ 25.66 09/06/2006   X     8,448 12/20/2005 02/19/2010 Common Stock 8,448 $ 25.66 0 D  
Stock Option $ 25.66 09/06/2006   X     3,898 02/19/2006 02/19/2010 Common Stock 3,898 $ 25.66 0 D  
Stock Option $ 16.28 09/06/2006   X     18,519 03/15/2001 03/15/2010 Common Stock 18,519 $ 16.28 0 D  
Stock Option $ 22.6 09/06/2006   X     12,346 01/16/2002 01/16/2011 Common Stock 12,346 $ 22.6 0 D  
Stock Option $ 22.6 09/06/2006   X     6,173 01/16/2003 01/16/2011 Common Stock 6,173 $ 22.6 0 D  
Stock Option $ 22.6 09/06/2006   X     6,173 01/16/2004 01/16/2011 Common Stock 6,173 $ 22.6 0 D  
Stock Option $ 28.17 09/06/2006   X     17,410 04/21/2005 04/21/2011 Common Stock 17,410 $ 28.17 19,628 D  
Stock Option $ 25.02 09/06/2006   X     15,433 01/22/2003 01/22/2012 Common Stock 15,433 $ 25.02 0 D  
Stock Option $ 25.02 09/06/2006   X     7,716 01/22/2004 01/22/2012 Common Stock 7,716 $ 25.02 0 D  
Stock Option $ 25.02 09/06/2006   X     7,716 01/22/2005 01/22/2012 Common Stock 7,716 $ 25.02 0 D  
Phantom Stock Units (401k) $ 0 (1)               (1)   (1) Common Stock 40,070   40,070 D  
Stock Option $ 28.17             12/20/2005 04/21/2011 Common Stock 70,527   70,527 D  
Stock Option $ 28.17             04/21/2007 04/21/2011 Common Stock 3,549   3,549 D  
Stock Option $ 33.82             12/20/2005 10/15/2011 Common Stock 90,000   90,000 D  
Stock Option $ 34.66               (2) 12/20/2012 Common Stock 79,007   79,007 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
UPCHURCH SAMUEL E JR
P O BOX 10247
BIRMINGHAM, AL 352020247		       Dir Corp & Strat Initiatives  

Signatures

 By: Ronald C. Jackson   09/08/2006
**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) The reported phantom stock units were acquired under Regions' benefit plans.
(2) The option becomes exercisable in three equal installments on December 20, 2006, 2007 and 2008.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

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