: Regions Financial profit up 12% on ‘stable’ deposits, despite banking sector turmoil


Regions Financial Corp. RF said it grew its profit by 12% as deposits remained stable despite turmoil in the banking sector during the quarter. Regions Financial said its first-quarter profit increased to $588 million, or 62 cents a share, from $524 million, or 55 cents a share, in the year-ago quarter. The company missed its earnings target of 65 cents a share, according to analyst estimates compiled by FactSet. Revenue increased by 22% to $2.0 billion, slightly ahead of the analyst forecast of $1.97 billion. Net interest income increased by 1% from the fourth quarter to a record $1.4 billion. “Total deposits declined…

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