The Exchange-Security Bank of Birmingham, along with the First National Bank of Montgomery and First National Bank of Huntsville, was one of the banks that merged on July 13, 1971 to form First Alabama Bancshares (now Regions Bank). The bank continued to operate separately under its own name until the merger was formalized in 1975.
The Exchange Bank was founded in 1928 by W. S. Edwards Sr, Mark Hodo and W. D. Phillips.
In the 1930s the bank had an office in the Spanish Stores on Five Points South. The Exchange Bank Building was constructed on 20th Street South and 10th Avenue South in 1947. The stripped-classicist modern concrete building was the first banking office in the city to have a drive-up window and its own parking lot. When it was built, the north and south wings of the building housed the Five Points Shoe Hospital and a Mary Ball Candies store, respectively.
The Exchange Bank merged with the Security Commercial Bank in 1957 to form the Exchange-Security Bank. R. D. Russell was president of the bank in 1960.
A two-story stone and tile branch office designed by William Shaw was completed at 2250 Bessemer Road in Five Points West in 1960. The 6,000 square-foot branch office was constructed for $175,000 and featured three drive-in teller islands.
A one-story brick branch building opened at the Mountain Brook Shopping Center in February 1964. It was followed by another small branch at 1013 Vanderbilt Road which opened on October 22, 1965.
A downtown business office for the Exchange Security Bank was constructed at 317 20th Street North. That building was later redeveloped as the Birmingham Green Postal Station.
In 1973 the Exchange-Security Bank had branch offices at these locations:
- 317 20th Street North, Downtown Birmingham
- 330 19th Street North, Bessemer
- 3172 Cahaba Heights Plaza, Cahaba Heights
- 2020 Center Point Road, Center Point
- 7728 Eastwood Mall
- 941 20th Street South, Five Points South
- 2250 Bessemer Road, Five Points West
- 475 Green Springs Highway, Green Springs
- 1651 Montgomery Highway, Hoover
- 2721 Culver Road, Mountain Brook
- 3121 3rd Avenue South, Lakeview
- 832 19th Street South, Medical Center
- 234 West Valley Avenue, West Homewood
- 1031 Vanderbilt Road, Vanderbilt
- 529 Montgomery Highway, Vestavia Hills
- 731 9th Avenue North, West Lake
- 42 Western Hills Mall
- "New Exchange-Security branch for Five Points West" (August 1959) The Birmingham News