Regions Financial announced Q2/14 net income available to common shareholders of $292 million, up 12.7% compared to $259 million in Q2/13.

Regions said second quarter results reflect the company’s steady progress and its ongoing commitment to meeting a broad range of customer needs in a prudent and sustainable manner. The company said it increased revenue by growing loans, deposits, checking accounts and quality households. In addition, the company reduced adjusted non-interest expenses, creating positive operating leverage and improved efficiencies.

Business lending achieved another solid quarter of growth as loans increased 1 percent, bringing the portfolio to $48 billion. The company’s specialized lending groups, asset-based lending and middle market commercial lending were the primary drivers of growth. Commercial and industrial loans increased 3%, while the investor real estate portfolio was relatively flat. Commercial and industrial production increased 26% from the previous quarter, line utilization increased 30 basis points and commitments for new loans increased 3%.

“These results demonstrate continued momentum as we effectively execute our business plans,” said Grayson Hall, chairman, president and CEO. “By focusing on meeting our customers’ needs, we are delivering sustainable and diversified revenue growth while controlling expenses and maintaining prudent credit standards.”

To view the full Regions Financial news release, click here.