Regions Bank to provide financial services to help JSU tornado recovery efforts

Regions Bank to provide financial services to help JSU tornado recovery efforts
An EF-3 tornado that hit the Jacksonville State University campus on March 19, 2018, damaged many buildings, including Merrill Hall, pictured. A new $30 million line of credit from Regions Bank will aid in the continuing rebuilding work on the campus. (Jacksonville State University)

Regions Bank announced the company will support Jacksonville State University’s ongoing tornado recovery efforts with a $30 million line of credit.

The university has made significant progress in restoring portions of the campus that were severely damaged during the March 2018 tornado. The line of credit from Regions will allow demolition and construction or renovation to begin on several buildings – Merrill Hall, Wallace Hall and Mason Hall – while the university awaits insurance settlements.

Officials of Regions Bank and Jacksonville State University have signed an agreement giving JSU a $30 million line of credit for tornado recovery work on campus. (Jacksonville State University)

“At Regions, we live here, we work here and we are committed to serving Jacksonville State University and its students as the university continues its long-term recovery,” said Corey McWhorter, Commercial Relationship Manager for Regions Bank. “While much work has been done to the campus, there is much more left to do. We are pleased to provide financial resources to continue recovery efforts. As additional needs arise, Regions will be here every step of the way to provide solutions.”

JSU released a request for proposal in February for funding to assist with the payment of recovery expenditures. Regions was selected in a competitive bid process and recently finalized the agreement for the line of credit with the university.

Jacksonville State University President Dr. John M. Beehler said services from Regions are an important component in the university’s recovery.

“Regions’ line of credit is a testament to their commitment to our community and to JSU’s recovery. We are proud of our strong partnership with Regions Bank,” Beehler said.

Anniston Market Executive Linda Jenkins said the Regions commitment to communities across Calhoun County is a top priority for associates.

“Throughout the tornado recovery, local teams from Regions have stayed true to our mission of making life better for the communities we serve. That is a testament to the strong teamwork and dedication of our associates in Calhoun County. We look forward to working with university leaders to make a meaningful difference in the future of the university,” Jenkins said.

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