Business Blog

Regions Financial (RF) reported fourth-quarter earnings that beat analysts’ estimates as its net interest margin, a gauge of lending profitability, widened, Bloomberg reports. Net income was $265 million, or 18 cents a share, compared with a loss of $548 million, or 48 cents, a year earlier, when the lender posted a non-cash charge tied to [...]

Birmingham, Ala.-based Regions Bank has contracted PrimeVest Financial Services to provide investment and financial advisory services to customers in the 16 states in which it does business, the bank said Thursday. The agreement with PrimeVest will help the Regions, Mississippi’s market leader in retail banking, fill the service gap that was left after it sold [...]

Regions Bank – Mississippi’s market leader — won’t be making a big payment to the Troubled Asset Relief Program, or TARP, with the $1.18 billion it is to gain through the pending sale of the Morgan Keegan investment brokerage. But the liquidity that the Birmingham bank’s holding company, Regions Financial, will gain from the sale [...]

Birmingham-based Regions Financial Corp. says it could incur legal losses of up to $300 million on top of the $210 million it paid to settle fraud claims against investment brokerage subsidiary Morgan Keegan by Mississippi and other Southeastern states. In its second quarter 10-Q filing with the U.S. Securities & Exchange Commission earlier this month, [...]

By Ted Carter You can toss out public relations as a reason Regions Financial, parent of Regions Bank, wants to get rid of wayward brokerage and investment banking subsidiary Morgan Keegan. It comes down to money – specifically the $3.5 billion the Birmingham-based Regions still owes the U.S. Treasury’s Troubled Asset Relief program, analysts say. [...]