Rochester, NY 8/7/2009 7:12:51 PM
Regions Financial Cp, RF - Declares Dropping Problem Loans
REGIONS FINANCIAL CP
REGIONS FINANCIAL CP, RF
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Regions Financial Corp. reiterated Wednesday that it is continuing to reduce both its exposure to problem loans and its reliance on government-assisted liquidity programs. Regions Financial, as with other banks, has been facing mounting loan losses as more customers fall behind on payments amid the lingering recession. Last week, the Birmingham, Ala.-based bank reported a loss for the second quarter as it nearly tripled its provision for loan losses.
In presentation slides used during an investor day conference in New York, the regional bank stressed that its credit quality is consistent with peers, including BB&T Corp., Comerica Inc., SunTrust Banks Inc. and Fifth Third Bancorp.
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