Regions Financial Corporation
- Regions Financial increased 2.7% to $18.43 after the bank reported a decline in quarterly profit.
Net interest income in the December quarter declined to $1.2 billion from $1.4 billion, net income dropped to $367 million from $660 million, and diluted earnings per share fell to 39 cents from 70 cents a year ago.
The company paid a special charge of $147 million from the FDIC related to the regional banking crisis in 2023.
Net interest margin at the end of the fourth quarter declined to 3.6% from 3.99%, and the tier-1 capital ratio increased to 11.5% from 10.9% a year ago, respectively.
Jan 19, 2024
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