Regions Financial Corp. (RF) reported first-quarter net income available to common shareholders of $327 million or $0.23 per share; higher than $145 million or $0.11 per share in the previous year.
Adjusted earnings per share from continuing operations in the prior-year quarter were $0.14.
On average, 25 analysts polled by Thomson Reuters expected the company to earn $0.20 per share for the quarter. Analysts' estimates typically exclude special items.
Total revenues declined to $1.3 billion from $1.35 billion a year earlier. Analysts estimated revenues of $1.33 billion for the quarter.
Net interest income totaled $798 million, down 4 percent from the prior year. Non-interest revenue declined 4 percent to $501 million.
Net interest margin improved 4 basis points from last year to 3.13 percent.
Provision for loan losses dropped to $10 million from $117 million last year. Non-interest expense also fell to $842 million from $913 million in the preceding year.
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