Regions reports flat full-year earnings

While Birmingham, Ala.-based Regions Financial Corp. (NYSE: RF) reported decreased fourth-quarter earnings, full-year profits were flat.

The holding company of three Regions Bank branches in Springfield reported fourth-quarter net income of $227 million, a 14.3 percent decrease compared to $265 million earnings in the same quarter of 2012. Annual profits remained at $1.1 billion, according to a news release.

2013 financial highlights:

• Regions' diluted share earnings dropped 2 cents in the fourth quarter to 17 cents, but full-year share earnings rose 6 cents to 77 cents.
• Loans totaled $75 billion at the end of the year, a 1 percent increase compared to Dec. 31, 2012.
• Annual revenue decreased 2.2 percent to $5.3 billion from $5.4 billion in 2012.

Regions operates about 1,700 branches in 16 states and holds assets of $117 billion, the release said.

RF shares hit a new 52-week high this morning of $11.04. The company's 52-week low is $7.42.