How far can lenders push the credit box?

How far can lenders push the credit box?

Watt announcement helps, but risk keeps standards tight

Warren calls for GAO investigation of nonbank servicers

Asks GAO to review “unprecedented” growth of nonbank servicers

Freddie Mac CEO: We will help increase mortgage lending

Competition among two is still competition
W S

Regions reports 4Q loss of $548 milion

/ Print / Reprints /
| Share More
/ Text Size+
Regions Financial Corp. (RF) reported a fourth-quarter loss of $548 million, or 48 cents a share, largely driven by a $731 million non-cash goodwill impairment charge A year earlier, Regions earned $89 million, or 3 cents a share. The Birmingham, Ala.-based bank reduced credit costs throughout the year, with its full-year loan loss provision falling 47% from 2010. Total net charge-offs in the fourth quarter declined 37% to $430 million from $682 million a year earlier. Regions also agreed to sell brokerage firm Morgan Keegan & Co. to Raymond James Financial (RJF) for about $930 million during the quarter, resulting in an impairment charge of $478 million to discontinued operations and $253 million to continuing operations. Regions reported solid total loan production for the year as commercial and industrial loans continued to grow. Total loan production for the year increased to $60 billion. Commercial loan production constituted the majority of that total at $51 billion, of which $15 billion was new loan production, a 14% increase over the last year. Non-performing loans, excluding loans held for sale, declined for the seventh straight quarter and were down $338 million or 12% from the third quarter. Inflows of non-performing loans declined to $561 million or 26% from the third quarter. Write to Justin T. Hilley. Follow him on Twitter @JustinHilley.

Recent Articles by Justin Hilley

Comments powered by Disqus