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Cap markets fees rise 41% YOY at Regions

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Cap markets fees rise 41% YOY at Regions

on July 19reported second-quarter net income available to common shareholders of $259million, or 20 cents per share, compared to $269 million, or 20 cents per share, for the same periodin 2015.

TheS&P Capital IQ consensus estimate for normalized EPS was 20 cents for thesecond quarter.

Revenuereflected a 40.7% year-over-year increase in capital markets, thanks to M&Aadvisory offerings and loan syndication volume. Card and ATM fees rose 10%. Thebottomline, however, included a 1-cent-per-share hit from $22 million inproperty-related expenses, $1 million in severance costs and $3 million inlegal and regulatory charges, partially offset by a $6 million FDIC insurancerefund for earlier overpayments. The property expenses were largely driven bythe consolidation of about 60 branches in the fourth quarter. Regions intendsto consolidate 100 to 150 sites through 2018 and cut costs by $300 million overthe next two years.

TheBirmingham, Ala.-based company's net interest margin, on a fullytaxable-equivalent basis, was 3.15% during the second quarter, compared to3.19% in the linked quarter and 3.16% in the second quarter of 2015.

Nonperformingassets, including those at least 90 days past due, amounted to 1.61% of loans,foreclosed properties and nonperforming loans held for sale — flat from theprevious quarter. Net loan charge-offs were 0.35% of average loans, annualized.They were 0.34% and 0.23% in the prior and year-ago quarters, respectively.Energy-related net charge-offs amounted to $17 million. Meanwhile, theallowance for loan and lease losses remained sequentially unchanged at 1.41% oftotal loans outstanding as of June 30.