BIRMINGHAM, Ala. - Regions Financial Corp. today reported second-quarter earnings of $285 million, or 20 cents per share.
The results for the parent company of Regions Bank met Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was also for earnings of 20 cents per share.
The holding company for Regions Bank, the third biggest bank in Chattnaooga, posted revenue of $1.41 billion in the period, surpassing Street forecasts. Eight analysts surveyed by Zacks expected $1.31 billion.
"This quarter's results reflect continued momentum in 2015," said Grayson Hall, Regions chairman, president and CEO. "We continued to grow loans, increasing 2 percent over the previous quarter, and we also grew fee revenue from sources such as capital markets, mortgage and cards. We are continuing to expand our customer base and deepen those relationships by meeting more customer needs, which is creating sustainable growth."
Regions Financial shares have fallen slightly more than 3 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 3 percent. The stock has declined almost 5 percent in the last 12 months.