Regions Bank earnings dip nearly 4%

Birmingham, Ala.-based Regions Financial Corp. (NYSE: RF) posted second-quarter net income available to common shareholders of $259 million, a 3.7 percent decrease compared with $269 million a year earlier.

Diluted share earnings were flat at 20 cents, according to a news release.

“We continue to focus on managing expenses in a manner that increases efficiency long term,” Regions Chairman, President and CEO Grayson Hall said in the release.

Second-quarter financial notes:
    •    Income from continuing operations dropped to $272 million, a 5.9 percent decrease from $289 million a year ago.
    •    Average loans and leases totaled $82 billion, an increase of 4 percent from a year ago.
    •    Average deposit balances came to $97 billion, an increase of $397 million from second-quarter 2015.

As of June 30, Regions reported $126 billion in assets. The company has 1,600 branches, according to the release.

RF shares were trading at $9.08 as of 11:48 a.m., compared to a 52-week range of $7 to $10.86.