Led by 36-year industry veteran Peter Salas, initiative expands Regions’ specialized banking capabilities for small businesses.
Regions Bank on Wednesday announced the creation of a Franchise Lending team led by industry veteran Peter Salas. A key part of Regions’ services designed to support small-business growth, Salas and his team are focused on helping drive business sustainability and expansion through their specialization in franchise concepts.
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Peter Salas and his team at Regions focus on leveraging their experience to help small-business clients develop sustainable plans for growth. (Photo: Business Wire)
Under Salas’ leadership, Regions’ Franchise Lending team is focused on developing relationships with franchise owners throughout Regions’ footprint in high-growth markets across the Southeast, Texas and the Midwest. There are franchise concepts in every market Regions serves, ranging from retail outlets to service providers, such as health and wellness locations. These franchise locations are often owned and managed by entrepreneurs and small-business owners who combine their knowledge of the local marketplace with the strength of a national, franchised brand. Now, by connecting these small-business owners with bankers who specialize in franchise concepts, Regions is able to help companies with research and analysis on industries and brands and provide financial guidance and advice tailored to meet the unique needs of small businesses across various franchise sectors.
“Regions Bank is committed to the strength and vitality of businesses that support our economy and provide essential jobs and services. Our Franchise Lending team is a direct complement to the tailored solutions delivered by Regions to a broad range of Corporate Banking clients,” said Ronnie Smith, head of Corporate Banking for Regions. “Further, this addition complements Regions’ acquisition of small-business lender Ascentium Capital in 2020 and the expansion of our Small Business Administration (SBA) Lending business. Peter’s experience, vision and leadership are ideally suited for helping Regions expand its range of customized and innovative solutions for business clients, and we are proud to welcome him to our team.”
Salas and his team work in collaboration with colleagues across Regions’ Commercial Banking, Wealth Management and Consumer Banking divisions with the goal of deepening existing business relationships and attracting new clients who can benefit from the bank’s approach to team-based, comprehensive services. This collaboration is consistent with Regions360, the bank’s approach to business development that brings financial professionals with a broad range of specialties together to leverage their collective experience in a way that produces comprehensive, effective banking solutions.
Salas began his banking career in 1985 at Flagler Federal Savings & Loan in Miami, Fla., where he worked as a teller. He later joined the bank’s management trainee program and received formal credit training. In 1999, he launched First Union Bank’s Bilingual Sales Call Center, where he managed four teams of 80 bankers.
His experience also includes holding leadership positions in Consumer Bank Management, Private Banking and Business Banking with Bank of America and JPMorgan Chase, where, prior to joining Regions, he served as SBA Southeast Division Manager for Business Banking. There, he also led an SBA Outreach Initiative focused on serving minority, veteran and women-owned businesses.
“The depth of Peter’s experience and his commitment to a positive client experience are two key attributes that make him the ideal leader to help Regions further build on its commitment to small-business success,” said Nikki Stephenson, head of Credit Products and Small Business Administration lending for Regions Bank. “Our teams serve some of the most vibrant and growing markets in the country. At the same time, we have the experience and insights to work with clients through a variety of opportunities and challenges as they develop a plan for business growth. The addition of Peter and his team is the latest example of Regions’ commitment to help business clients grow and succeed.”
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $158 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.
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