Regions Financial Corp. is unloading an accounts receivable unit.

The $142 billion-asset Birmingham, Ala., company said that it has an agreement to sell Regions Interstate Billing Service Inc. to Bank Independent in Sheffield, Ala. The companies did not say how much Bank Independent would pay for the unit. The sale is expected to close in the third quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.