SEC Form 4
FORM 4

[ ] Check this box if no longer
subject to Section 16. Form 4 or Form
5 obligations may continue.
See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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(f) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person*
Miller, Peter     D.
(Last)                      (First)                      (Middle)
P O Drawer 937

(Street)
Gainesville, GA     30305-0937
(City)                      (State)                      (Zip)

 2. Issuer Name and Ticker
    or Trading Symbol

Regions Financial Corp.   RF
3. I.R.S. Identification
    Number of Reporting
    Person, if an entity
    (voluntary)
 4. Statement for
    (Month/Year)

    February 20 2003

5. If Amendment,
    Date of Original
    (Month/Year)
 6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

                        Director                           10% Owner
           X          Officer                             Other

Officer/Other
Description           Regional President; Member Leadership Team
7. Individual or Joint/Group
    Filing (Check Applicable Line)

X   Individual Filing
      Joint/Group Filing
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security
    (Instr. 3)

 2. Transaction Date
    (Month/Day/Year) 		3. Transaction
    Code
    and
    Voluntary
    Code
    (Instr. 8)

Code  |  V    
4. Securities Acquired (A) or Disposed (D) Of
    (Instr. 3, 4, and 5)





        Amount      |         A/D         |         Price          
5. Amount of
    Securities
    Beneficially
    Owned at
    End of Month

    (Instr. 3 and 4) 		6. Owner-
    ship
    Form:
    Direct(D)
    or
    Indirect (I)

    (Instr. 4) 		7. Nature of
     Indirect
     Beneficial
     Ownership

    (Instr. 4)
Common Stock 02/20/2003
   F |     
3,040.000   |           D           |   $31.7250    
 60,754.000
D
Common Stock


13,851.000
I
 By Spouse
Common Stock


7,947.000
I
 CLM Associates LFP
Common Stock (DRP)


60,441.316
D
Common Stock


50,891.000
I
 PDM Associates LP







Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

(over)
SEC 1474 (3-99)

Miller, Peter D. - February 2003
Form 4 (continued)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
    (Instr. 3) 		2. Conver-
    sion or
    Exercise
    Price of
    Deri-
    vative
    Security 		3. Transaction
    Date

    (Month/
    Day/
    Year) 		4. Transaction
    Code
    and
    Voluntary (V)
    Code
    (Instr.8)





Code | V    
5. Number of Derivative
    Securities Acquired (A)
    or Disposed (D) Of

    (Instr. 3,4 and 5) 		6. Date Exercisable(DE) and
    Expiration Date(ED)
    (Month/Day/Year)








  (DE)     |     (ED)  
 7. Title and Amount of
    Underlying Securities
    (Instr. 3 and 4) 		8. Price
    of
    Derivative
    Security
    (Instr.5) 		9. Number of
    Derivative
    Securities
    Beneficially
    Owned
    at End of
    Month
    (Instr.4) 		10.
Owner-
ship
Form of
Deriv-
ative
Security:
Direct
(D)
or
Indirect
(I) 		11. Nature of
      Indirect
      Beneficial
      Ownership
      (Instr.4)
Stock Option
 $13.8150


01/19/1995 | 01/19/2004
 Common Stock - 2,128.0
2,128.0
I
 CLM Associates LFP
Stock Option
 $13.8158


01/19/1996 | 01/19/2004
 Common Stock - 2,128.0
2,128.0
I
 CLM Associates LFP
Stock Option
 $13.8158


03/01/1996 | 01/19/2004
 Common Stock - 6,384.0
6,384.0
I
 CLM Associates LFP
Stock Option
 $12.1710


01/13/1996 | 01/13/2005
 Common Stock - 3,268.0
3,268.0
I
 CLM Associates LFP
Stock Option
 $12.1710


03/01/1996 | 01/13/2005
 Common Stock - 13,072.0
13,072.0
I
 CLM Associates LFP
Stock Option
 $41.3400


04/09/1999 | 04/09/2008
 Common Stock - 23,832.0
23,832.0
I
 CLM Associates LFP
Phantom Stock Units (401k)
 (1)


(1) | (1)
 Common Stock - 1,752.0
1,752.0
D
Stock Option
 $13.8150


01/19/1995 | 01/19/2004
 Common Stock - 2,660.0
2,660.0
D
Stock Option
 $20.8487


01/11/1997 | 01/11/2006
 Common Stock - 2,021.0
2,021.0
D
Stock Option
 $20.8487


01/11/1998 | 01/11/2006
 Common Stock - 2,021.0
2,021.0
D
Stock Option
 $20.8487


01/11/1999 | 01/11/2006
 Common Stock - 2,022.0
2,022.0
D
Stock Option
 $20.8487


01/11/2000 | 01/11/2006
 Common Stock - 2,022.0
2,022.0
D
Stock Option
 $20.8487


01/11/2001 | 01/11/2006
 Common Stock - 2,022.0
2,022.0
D
Stock Option
 $26.0625


01/09/1998 | 01/09/2007
 Common Stock - 2,218.0
2,218.0
D
Stock Option
 $41.3400


04/09/1999 | 04/09/2008
 Common Stock - 2,418.0
2,418.0
D
Stock Option
 $35.6562


08/30/2000 | 08/30/2009
 Common Stock - 26,250.0
26,250.0
D
Stock Option
 $20.0937


03/15/2001 | 03/15/2010
 Common Stock - 60,000.0
60,000.0
D
Stock Option
 $27.9050


01/16/2002 | 01/16/2011
 Common Stock - 40,000.0
40,000.0
D
Stock Option
 $27.9050


01/16/2003 | 01/16/2011
 Common Stock - 20,000.0
20,000.0
D
Stock Option
 $27.9050


01/16/2004 | 01/16/2011
 Common Stock - 20,000.0
20,000.0
D
Stock Option
 $30.8950


01/22/2003 | 01/22/2012
 Common Stock - 40,000.0
40,000.0
D
Stock Option
 $30.8950


01/22/2004 | 01/22/2012
 Common Stock - 20,000.0
20,000.0
D
Stock Option
 $30.8950


01/22/2005 | 01/22/2012
 Common Stock - 20,000.0
20,000.0
D











Explanation of Responses :


** Intentional misstatements or omissions of facts constitute Federal Criminal Violations.
        See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note:   File three copies of this Form, one of which must be manually signed. If space is insufficient,
            See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB number. 		________________________________         __________________
** Signature of Reporting Person                         Date

Ronald C. Jackson
Peter D. Miller


Page 2
SEC 1474 (3-99)
Miller, Peter D. - February 2003
Form 4 (continued)
FOOTNOTE Descriptions for Regions Financial Corp. RF

Form 4 - February 2003

Peter D. Miller
P O Drawer 937

Gainesville, GA 30305-0937
Explanation of responses:

 (1)   The reported phantom stock units were acquired under Regions' benefits plans.
Page 3