A Regions Bank sign decorates the facade of the Tallen Building in this file photo.Regions Financial Corp., the parent company of one of Chattanooga's biggest banks, said today its second quarter income rose 12 percent to $300 million, or 21 cents per share. The results were in line with analysts projections.
The Alabama-based banking firm cut expenses to more than offset a 2 percent decline in revenues, which totaled $1.28 billion during the three months ended June 30. The loan portfolio for Regions Bank rose 1.1 percent to $77 billion.
"These results demonstrate continued momentum as we effectively execute our business plans," Regions CEO Grayson Hall said in a statement.