Regions Financial Corp. in Birmingham, Ala., has named Fred B. Stone to take office today as chairman and chief executive officer of its Rebsamen Insurance agency in Little Rock, Ark.
Mr. Stone was to succeed Allen J. McDowell, who retired after 13 years as chairman and CEO, the companies said last Tuesday. Rebsamen was Regions' foundation agency, purchased in February 2001. It now is a subsidiary of the newly created Regions Insurance Group in Memphis, which has been led since mid-December by David L. Bowlin.
Mr. Stone was the president of Rebsamen Insurance/Springdale Inc. in Fayetteville, Ark.
He has owned agencies in Stuttgart and Heber Springs, Ark., founded H&S Insurance in Fayetteville, and sold it to Rebsamen in 1992. With annual premiums of about $800 million, Regions Insurance Group is ranked as the 10th-largest bank-owned insurance agency in the United States.
Regions Financial Corp. is a full-service provider of retail and commercial banking, securities brokerage, mortgage, and insurance products and services.
