Regions improves 2016 after quarterly gain

Birmingham, Alabama-based Regions Financial Corp. (NYSE: RF) ended the year with a fourth-quarter net income increase, helping to boost the company’s yearly earnings ahead of 2015.

The holding company of Regions Bank reported fourth-quarter net income available to common shareholders of $279 million, a 3.7 percent increase compared with $269 million a year earlier. Full-year earnings came to $1.1 billion, a bump of 10 percent from 2015, according to a news release.

"In a challenging operating environment, we delivered double-digit earnings per share growth in 2016, and we remain on track to meet our long-term strategic goals," Regions Chairman, President and CEO Grayson Hall said in the release. "The company remains committed to prudently growing and diversifying revenue, rigorous expense management and managing our capital in a disciplined manner."

Financial notes for 2016:
    •    Regions improved earnings per share to 87 cents from 75 cents in 2015.
    •    The company returned $1.2 billion to shareholders through dividend payments and stock repurchases.
    •    Noninterest expenses were roughly flat.

As of Dec. 30, Regions had $126 billion in assets. The company operates 1,500 branches, including two in Springfield, according to the release.

RF shares were trading at $14.67 as of 11:05 a.m., near a 52-week high of $14.93. The company’s 52-week low is $7.