Regions announces record per-share earnings

Per-share earnings were up 17 percent from 64 cents the previous quarter and up 27 percent from the same quarter last year.

Second-quarter net income was $345 million. For the year to date, net income is $640 million, or $1.39 per share, up from $1.02 in the first six months of 2005.

Regions’ net interest income rose by $25 million in the quarter, a 13 percent increase from the first year and up 10 percent year-over-year.

Officials say the company continues to see the benefits of its mid-2004 merger with Union Planters. Regions’ also announced May 25 it would merge with Birmingham-based AmSouth by the end of the year.

Shares of Regions (NYSE: RF) closed Thursday at $32.45 and increased to $33.38 after the earnings’ release this morning.