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Regions Bank places $1B bet on home renovation market

Regions Bank is looking to make a big dent in the home improvement lending space, striking a deal to acquire EnerBank USA for $960 million in cash.

EnerBank, a Utah-based subsidiary of publicly traded CMS Energy, has loan balances totaling $2.8 billion as of March 31, 2021 and is one of America’s largest specialized home improvement lenders.

The Salt Lake City-based lender says it’s worked with over 1 million homeowners since its founding in 2002 and funded $11.6 billion in home improvement projects. EnerBank says it works with details ⇒

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