Regions Bank profits up in quarter

Regions Bank profits up in quarter

July 22nd, 2014 by Staff Report in Local - Breaking News

A Regions Bank sign decorates the facade of the Tallen Building in this file photo.

A Regions Bank sign decorates the facade of...

Regions Financial Corp., the parent company of one of Chattanooga's biggest banks, said today its second quarter income rose 12 percent to $300 million, or 21 cents per share. The results were in line with analysts projections.

The Alabama-based banking firm cut expenses to more than offset a 2 percent decline in revenues, which totaled $1.28 billion during the three months ended June 30. The loan portfolio for Regions Bank rose 1.1 percent to $77 billion.

"These results demonstrate continued momentum as we effectively execute our business plans," Regions CEO Grayson Hall said in a statement.


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