|
|
 |
| |
|
Home > Fortune 500 Companies > Regions Financial
Regions Financial
Regions Financial is a publicly traded company having a good stock performance result. Regions Financial is a fortune 500 stock listed company trading under RF.
Regions Financial Corporation headquartered in Birmingham, Ala., is a full-service provider of retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services. The regions had 84.8 billion dollars in assets as of December 31, 2005, making it one of the nation’s Top 15 banks. Regions’ banking subsidiary, Regions Bank, operates some 1,300 offices and a 1,600-ATM network across a 16-state geographic footprint in the South, Midwest and Texas. Its investment and securities brokerage trust and asset management division, Morgan Keegan & Company Inc., provides services from over 280 offices.
Regions' third-quarter 2005 net income was 256.6 million dollars, including after-tax merger-related and other costs of 25 million dollars. This compares to second quarter's 53 cents per diluted share, including 6 cents of merger-related costs. Excluding merger and other charges, per share earnings increased 3.4 percent linked quarter from 59 cents to 61 cents.
On a linked-quarter basis, taxable equivalent net interest income rose 23.3 million dollars, or an annualized 13 percent, to 739.8 million dollars, assisted by an 8 basis point improvement in the net interest margin to 3.93 percent. Net interest income was up 7 percent compared with third quarter 2004, and the margin posted a 22 basis point year-over-year advance.
Regions recorded an approximate 11 million dollars loss on early retirement of 600 million dollars of Federal Home Loan Bank advances. Over the next year, these two actions should benefit net interest income approximately 13 million dollars to 15 million dollars annually.
Regions continued to actively manage its capital during the third quarter, returning excess capital to shareholders through stock buybacks. Approximately 4.2 million shares were repurchased at an average price of 33.53 dollars per share during the quarter. As of Sept. 30, 2005, year to date stock buybacks have aggregated 12.7 million shares. For full-year 2005, it expects to repurchase some 17 million to 18 million shares. Tangible stockholders' equity to tangible assets was 6.68 percent at Sept. 30, 2005 and June 30, 2005.
Back to Fortune 500 Companies
|
|
|
|
|
|
|