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 *
EDWARDS G DOUGLAS
   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)
CEO & President, Morgan Keegan
(Last)
(First)
(Middle)
50 FRONT STREET		 3. Date of Earliest Transaction (Month/Day/Year)
12/20/2006
(Street)

MEMPHIS, TN 38103		 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 12/20/2006   F   652 D $ 0 210,581.83 D  
Common Stock               364,947 I Andwards Family Partnership L.P.
Common Stock               10,000 I Gedwards Family Partnership L.P.
Common Stock               10,000 I Nanwards Family Partnership L.P.

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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             02/19/2006 02/19/2010 Common Stock 23,263   23,263 D  
Stock Option (Right to buy) $ 23.34             03/30/2004 03/30/2011 Common Stock 141,469   141,469 D  
Stock Option (Right to buy) $ 28.17             12/20/2005 04/21/2011 Common Stock 60,650   60,650 D  
Stock Option (Right to buy) $ 28.17             04/21/2007 04/21/2011 Common Stock 3,549   3,549 D  
Stock Option (Right to buy) $ 33.82             12/20/2005 10/15/2011 Common Stock 90,000   90,000 D  
Stock Option (Right to buy) $ 32.6             12/20/2005 03/01/2012 Common Stock 2,469   2,469 D  
Stock Option (Right to buy) $ 27.62               (1) 03/08/2012 Common Stock 21,072   21,072 D  
Stock Option (Right to buy) $ 34.66               (2) 12/20/2012 Common Stock 56,434   56,434 D  
Stock Option (Right to buy) $ 35.38               (3) 04/03/2013 Common Stock 2,000   2,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
EDWARDS G DOUGLAS
50 FRONT STREET
MEMPHIS, TN 38103		       CEO & President, Morgan Keegan  

Signatures

 By: D. Bryan Jordan   12/21/2006
**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) The option becomes exercisable in three installments: one-half on March 8, 2003; one-fourth on March 8, 2004; and one-fourth on March 8, 2005.
(2) The option becomes exercisable in three equal installments on December 20, 2006, 2007 and 2008.
(3) The option becomes exercisable in three equal installments on April 3, 2007, 2008 and 2009.

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