RegionsRegions Financial of Birmingham, Ala., on Tuesday reported first-quarter net income available to common shareholders of $327 million, or 23 cents a share, increasing from $261 million, or 18 cents a share, in the fourth quarter, and $145 million, or 11 cents a share, in the first quarter of 2012. The first-quarter results came in ahead of the consensus estimate of 20 cents, among analysts polled by Thomson Reuters. The biggest factor in the year-over-year earnings improvement was a decline in the provision for loan losses to $10 million in the first quarter from $37 million the previous quarter and $117 million a year earlier. The provision is the amount added to loan loss reserves, directly lowering pre-tax earnings.
Interested in more on Regions Financial? See TheStreet Ratings' report card for this stock. -- Written by Philip van Doorn in Jupiter, Fla. >Contact by Email. Follow @PhilipvanDoorn