Rainey retires after 27 years

Published 12:00 am Wednesday, December 26, 2001

Staff Writer

The new year will bring more than a change in the calendar to Jack Rainey. After 27. a nd a half years, Rainey is retiring as president of Regions Bank.

"We’re going to miss Jack Rainey," said Carl Barker, chairman of the board, president and chief executive officer for Regions Bank in Troy. "He’s done an outstanding job for the bank and the community."

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Barker, who works in Montgomery, said he hates to see Rainey retire, but knows "he’s going to enjoy retirement."

That is exactly what Rainey plans to do.

Rainey said it is time to focus on family and taking some swings off his golf score.

"I want to improve my golf game, play with my donkeys and spend more time with my 10 grandchildren," Rainey said when asked what he plans to do after Dec. 31.

"I think I can stay busy."

As of Jan. 1, 2002, Rainey will have the time to do whatever he likes, but leaves his position with a fond farewell.

"It’s been a great 27 and a half years," Rainey said. "I’ve worked for two fine men and I couldn’t have asked for better employees."

One of those employees ­ Randy Grissett ­ will be taking over as president.

"I hate to see Mr. Rainey go," Grissett said. "A lot of experience is walking out the door."

Grissett, who has been with Regions Bank 11 years and called Troy home for almost four, is looking forward to the new position, but admits it will be different being the boss.

"Before, I was able to go to Mr. Rainey and ask his opinion," the executive vice president said. "Now, it stops here."

Barker is sure Grissett will live up to the expectations.

"We’re really glad we have a young man with the capability of Randy Grissett (to succeed Rainey)," Barker said.

Having been with Regions Bank, Grissett is excited about the upcoming year and sees "a lot of opportunity" for the bank.

"There’s always room for improvements," Grissett said, adding he wants to continue efforts on sales and work to increase customer financial services so customers can take care of all their financial business with one company.

"Being a total financial provider is what our goal is," Grissett said.

Of course, that will depend greatly on the economy, which is expected to improve by the second quarter of next year.

Rainey’s retirement is not the only change Regions Bank will experience.

Phillis Bryan, a customer service representative with Regions Bank, did not want a lot of hullabaloo made about her retirement, but she will be missed after 17 years of service, bank officials said.