Regions Financial Q2 Profit Rises

(RTTNews) - Regions Financial Corp. (RF), on Friday, announced that the second quarter net income available to common shareholders increased from the previous year, with 10.1 percent growth in revenues.

The quarterly net income increased to $534 million from $477 million last year. Earnings per share were $0.59 versus 0.52 last year.

Adjusted net income was $538 million, while it was $488 million in the prior year. On an adjusted basis, earnings per share were $0.60 versus 0.53 last year.

Net interest income climbed 6.2 percent to $1.26 billion from $1.19 billion in the previous year.

Non-interest income also jumped 18.5 percent to $646 million from $545 million last year.

Adjusted non-interest income remained at $646 million from $595 million in the prior year.

Revenue increased 10.1 percent to $1.91 billion from $1.73 billion last year.

Adjusted revenue remained at $1.91 billion from $1.78 billion in the same period last year,

Loans for the quarter declined 0.8 percent to $96.72 billion from $97.51 billion last year.

Deposits for the quarter increased to $130.92 billion from $126.62 billion in the previous year.

In the pre-market trading, Regions Financial is 1.41% lesser at $24.21 on the New York Stock Exchange.