FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF 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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1. Name and Address of Reporting Person *   DEER R ALAN 2. Date of Event Requiring Statement (Month/Day/Year) 11/04/2006 3. Issuer Name and Ticker or Trading Symbol REGIONS FINANCIAL CORP [RF] (Last) (First) (Middle) P O BOX 10247 4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP--General Counsel 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) BIRMINGHAM, AL 352020247 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 Beneficially Owned

1.Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5) Common Stock 21,001.59 D   Common Stock 537 I By 401(k) Common Stock 447 I By estate (1) Common Stock (Joint with Spouse) 10,298 D   Common Stock (phantom stock) 392 I By Supplemental 401(k) Plan (2)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to buy)	12/20/2005	10/15/2011	Common Stock	50,000	$ 33.82	D	Â
Stock Option (Right to buy)	01/22/2005	01/22/2012	Common Stock	6,410	$ 25.02	D	Â
Stock Option (Right to buy)	12/20/2006	12/20/2012	Common Stock	13,168	$ 34.66	D	Â
Stock Option (Right to buy)	12/20/2007	12/20/2012	Common Stock	13,168	$ 34.66	D	Â
Stock Option (Right to buy)	12/20/2008	12/20/2012	Common Stock	13,168	$ 34.66	D	Â
Stock Option (Right to buy)	12/20/2005	02/19/2013	Common Stock	17,708	$ 25.66	D	Â
Stock Option (Right to buy)	02/19/2006	02/19/2013	Common Stock	3,898	$ 25.66	D	Â
Stock Option (Right to buy)	04/09/1999	04/09/2008	Common Stock	2,985	$ 33.49	D	Â
Stock Option (Right to buy)	08/30/2000	08/30/2009	Common Stock	3,462	$ 28.88	D	Â
Stock Option (Right to buy)	03/15/2001	03/15/2010	Common Stock	1,143	$ 16.28	D	Â
Stock Option (Right to buy)	01/16/2004	01/16/2011	Common Stock	10,597	$ 22.6	D	Â
Stock Option (Right to buy)	12/20/2005	04/21/2011	Common Stock	8,797	$ 28.17	D	Â
Stock Option (Right to buy)	04/21/2007	04/21/2011	Common Stock	3,549	$ 28.17	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
DEER R ALAN P O BOX 10247 BIRMINGHAM, AL 352020247	Â	Â	  EVP--General Counsel	Â

Signatures

By: Alton E. Yother		11/09/2006
**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(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)	By estate in which reporting person shares a pecuniary interest. The entire amount of the estate's interest is reported.
(2)	Represents share equivalent of phantom stock in supplemental 401(k) plan.

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