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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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)

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 (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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