Birmingham, Ala.-based Regions Financial Corp. (NYSE: RF) nearly doubled its third-quarter profits to $301 million, up from $155 million in the same quarter last year.
The holding company, which operates three Regions Bank branches in Springfield, posted 21-cent earnings per diluted share during the quarter ended Sept. 30, according to a news release.
“As this quarter’s results show, our steady business performance and prudent investments are laying the foundation for long-term growth,” Regions President and CEO Grayson Hall said in the release. “As the financial services industry manages through a prolonged and uneven economic recovery, we remain focused on our customers and finding more ways to help them succeed financially.”
Region's total revenue in the quarter was $1.35 billion, down slightly from $1.36 billion in the same quarter last year. Its net interest income decreased 3.9 percent to $817 million, the release said.
Regions held $106.8 million in deposits as of June 30 in the five-county Springfield metropolitan statistical area. The company held a 1.3 percent share of the area market, according to Oct. 2 Federal Deposit Insurance Corp. data.
Regions operates about 1,700 branches in 16 states. As of Sept. 30, the company's assets were $122 billion, the release said.
As of 10:44 a.m., the company's shares were trading at $6.51, compared to a 52-week range of $3.51 to $7.73.[[In-content Ad]]
