Regions Financial reported Q3/16 earnings of $304 million, up 26% from $242 million in Q3/15. Total revenue on a tax-equivalent basis was $1,455 million, up 7.6% or $103 million from $1,352 million a year earlier.

The following highlights were excerpted from the news release:

• Business lending balances in Q3/16 decreased $591 million or 1% on an average basis compared to Q3/15.
• The net interest margin in Q3/16 of 3.06% was down seven basis points from 3.13% a year earlier.
• The company recognized an $8 million leverage lease termination gain during Q3/16, which was substantially offset by a related increase in income taxes.

“These results demonstrate Regions is delivering solid revenue growth by increasing deposits and non-interest income as we continue to execute our strategic plan,” said Grayson Hall, chairman, president and CEO. “In light of a continued low interest rate environment, we are maintaining our disciplined approach to risk management and our focus on increasing efficiency while also continuing to make prudent investments in our businesses to generate further long-term growth.”