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Birmingham AL: Regions Earnings Report Gives Picture of Pandemic’s Toll on Customers

042320

Posted April 23, 2020

Regions Financial Corp. today announced $139 million in earnings for the first quarter.

Total revenue in the first quarter was down about 5 percent compared to last year’s fourth quarter, but was a far cry from last year, when the company reported a net income of $378 million in the first quarter.

Earnings per diluted share was $0.14. Pre-tax pre-provision income of $577 million was driven by loan and deposit growth and a proactive interest rate hedging strategy, the company said.

Deeper into the quarterly earnings report was a picture of the toll the bank’s customers have felt due to the coronavirus pandemic measures, which have brought large swaths of American commercial activity to a halt.


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