April 20, 2018 / 10:15 AM / in 4 months

BRIEF-Regions Reports Q1 Earnings Per Share $0.35 From Continuing Operations

April 20 (Reuters) - Regions Financial Corp:

* REGIONS REPORTS FIRST QUARTER 2018 EARNINGS FROM CONTINUING OPERATIONS OF $398 MILLION, UP 44 PERCENT OVER THE PRIOR YEAR, AND EARNINGS PER SHARE OF $0.35, UP 52 PERCENT

* Q1 REVENUE ROSE 6 PERCENT

* Q1 EARNINGS PER SHARE VIEW $0.31 — THOMSON REUTERS I/B/E/S

* QTRLY AVERAGE LOANS AND LEASES INCREASED $368 MILLION AND TOTALED $79.9 BILLION VERSUS PREVIOUS QUARTER

* QTRLY NET INTEREST INCOME AND OTHER FINANCING INCOME INCREASED 6 PERCENT

* QTRLY NET INTEREST MARGIN INCREASED 21 BASIS POINTS

* QTRLY NET CHARGE-OFFS DECREASED 9 BASIS POINTS, AND 11 BASIS POINTS ON AN ADJUSTED BASIS

* NON-GAAP BASEL III COMMON EQUITY TIER 1 RATIO 11 PERCENT AT QUARTER-END VERSUS 11 PERCENT AT PREVIOUS QUARTER-END

* QUARTER-END TIER 1 CAPITAL RATIO 11.9% VERSUS 11.9% AT PREVIOUS QUARTER-END

* EXPECTS REGIONS INSURANCE TRANSACTION WILL RESULT IN AN AFTER-TAX GAIN OF APPROXIMATELY $200 MILLION

* EXPECTS REGIONS INSURANCE TRANSACTION WILL GENERATE COMMON EQUITY TIER 1 OF APPROXIMATELY $300 MILLION

* QTRLY TOTAL REVENUE WAS $1.4 BILLION ON A REPORTED AND ADJUSTED BASIS, CONSISTENT WITH Q4

* CAPITAL GENERATED FROM REGIONS INSURANCE DEAL IS EXPECTED TO BE USED TO REPURCHASE SHARES OF COMMON STOCK

* DURING Q1 COMPANY INCURRED $15 MILLION OF SEVERANCE EXPENSE

* WILL HAVE CONSOLIDATED APPROXIMATELY 12 PERCENT OF ITS RETAIL BRANCH NETWORK SINCE END OF 2015

* Q1 REVENUE VIEW $1.44 BILLION — THOMSON REUTERS I/B/E/S

* QTRLY NET CHARGE-OFFS TOTALED $84 MILLION COMPARED TO $63 MILLION IN PREVIOUS QUARTER Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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