Regions Fincl beats by $0.01, reports revs in-line :
- Reports Q1 (Mar) earnings of $0.23 per share, $0.01 better than the Capital IQ Consensus of $0.22; revenues rose 0.1% year/year to $1.39 bln vs the $1.4 bln Capital IQ Consensus.
- Net interest income and other financing income on a fully taxable equivalent basis increased 1%; the resulting net interest margin was 3.25%, up 9 basis points sequentially.
- Allowance for loan and lease losses declined 3 basis points to 1.33% of total loans; the allowance for loan and lease losses attributable to direct energy loans decreased from 7.0% to 6.1%.
- Net charge-offs increased 10 basis points to 0.51% of average loans, and non-accrual loans, excluding loans held for sale, increased 2 basis points to 1.26% of loans outstanding.
- The Tier 1 and Common Equity Tier 1 ratios were estimated at 12.1% and 11.3%, respectively, at quarter-end under the phase-in provisions.
- In addition, the Common Equity Tier 1 ratio was estimated at 11.2% on a fully phased-in basis.
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