Regions' earnings dip slightly in 2014

In 2014, Birmingham, Ala.-based Regions Financial Corp. (NYSE: RF) came close to matching profits in 2013.

Full-year earnings were $1.09 billion, or 79 cents per diluted share, down from $1.1 billion, or 78 cents per diluted share, in 2013. For the fourth quarter ended Dec. 31, net income dropped 11 percent to $195 million from $219 million, with diluted share earnings falling 2 cents to 14 cents, according to a news release.

"The fourth quarter rounded out a solid year in which we grew loans, increased deposit balances, and improved asset quality and capital ratios," Regions Chairman, President and CEO Grayson Hall said in the release. "As we execute our strategy to deepen relationships with customers and improve efficiencies across our business, we are well-positioned for continued progress in 2015."

2014 financial notes:

• Loan balances rose by $3 billion, or 4 percent, to $76.2 billion.
• Deposits rose by $2 billion, or 2 percent. As of Dec. 31, total deposits were $94.2 billion.
• The company repurchased $248 million of common stock during the fourth quarter.

Regions operates roughly 1,650 branches in 16 states and three in Springfield. As of Dec. 31, its assets were $119.7 billion, according to the release.

RF shares were trading at $9.08 as of 11:25 a.m., compared to a 52-week range of $8.59 to $11.54.[[In-content Ad]]