This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Regions Financial Corporation And Subsidiaries Financial Supplement To Fourth Quarter 2013 Earnings Release

“2013 was a foundational year for Regions as we took decisive action to position the company for long-term, sustainable growth while also achieving positive loan growth,” said Grayson Hall, president, chairman and CEO. “By focusing on meeting the financial needs of our customers and maintaining our efforts to operate more efficiently, we concluded the year with more customers and successfully lowered adjusted expenses (1) compared to the prior year. We are optimistic about growth prospects for 2014 as consumers and businesses begin the year with healthy balance sheets and the economy continues to improve.”

Strengthening asset quality by further de-risking the balance sheet

During the fourth quarter, Regions transferred loans totaling approximately $686 million to held-for-sale. The loans transferred were primarily accruing first lien residential mortgages classified as troubled debt restructurings (TDRs) and the company expects to execute a sale of these loans early this year. This transaction, when completed, is expected to result in lower deposit administrative fees, improve the company’s credit profile and further strengthen the company’s balance sheet.

Net charge-offs totaled $278 million in the fourth quarter, including $151 million related to the transfer of residential mortgage loans to held-for-sale. Regions’ provision for loan losses was $79 million for the quarter, of which $75 million was related to the loan transfers. The prior quarter’s loan loss provision amounted to $18 million. The allowance for loan and lease losses represented 1.80 percent of total loans outstanding, a decline of 23 basis points from the prior quarter.

Non-performing loans (excluding loans held-for-sale) improved $272 million, or 20 percent, from the prior quarter and 36 percent from the prior year. The pace of loans migrating into non-performing loan status declined 12 percent from the previous quarter to $175 million and is down 50 percent from the previous year. In addition, commercial and investor real estate criticized and classified loans declined 14 percent in the quarter and were down 33 percent year-over-year.

2 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 -1.15%
FB $117.58 0.73%
GOOG $693.01 0.29%
TSLA $240.76 -2.81%
YHOO $36.60 0.03%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs