Regions Q2 Earnings Lower; Notes 'Pick-Up' in Lending



Regions Financial reported Q2/13 net income available to common shareholders of $259 million, as compared to $284 million in the second quarter of the prior year.

Regions noted total Q2/13 revenue of $1.31 billion was down from $1.35
Billion for the same quarter in 2012 as net interest income of $808 million was $30 million lower compared to $838 million in Q2/12. The bank also noted that Q2/13 non-interest expense of $884 million was up from $842 million in the same quarter one-year ago.

Regions said that total business lending increased 2.2% to $46 billion at quarter end and said much of this increase was driven by C&I loans, which experienced growth for the twelfth straight quarter. Ending loans in this category were up 11% compared to the same period last year. New loan production in this portfolio increased 36% on a linked quarter to $4 billion as the company experienced a pick-up in lending to small businesses as well as seasonal growth in demand overall.

To read the full text of the Regions news release click here.


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