EARNINGS UPDATE: Regions Financial Corp. Ratings Unaffected By Fourth-Quarter Results Jan 12
Standard & Poors, January 2012
Abstract
NEW YORK (Standard & Poor's) Jan. 25, 2012--Standard & Poor's Ratings Services today said its ratings on Regions Financial Corp. (BB+/Stable/B) are not affected by the company's fourth-quarter results, which we view as satisfactory and generally consistent with our expectations. Regions reported a net loss of $602 million after preferred dividends, largely as a result of a $731 million noncash goodwill impairment stemming from the company's announcement that it plans to sell its Morgan Keegan & Co. brokerage subsidiary. Results were hurt by lower service charges and higher non-interest expenses, but aided by a lower loan-loss provision and a slightly higher net interest margin (NIM). The NIM rose by 4 basis points from the third quarter to 3.08%, and we...
Companies mentioned in this report are: Regions Financial Corp.
Action: General Comment
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Research type: News
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Regions Financial Corp.
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