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.