Regions Financial Corp (NYSE:RF) has announced that it would be attending the Fall Conference of the BancAnalysts Association of Boston, scheduled to be held on November 4, 2016, in Boston. The company stated that its executives would be in attendance and would deliver a presentation, at approximately 10:45 am, ET, which would also be available through a live webcast, listen only. The webcast can be accessed through the company’s personal website.
The announcement comes nearly 2-weeks after RF released its financial results for the 3Q2016. The company recorded a net income of $304 million, for the 3Q2016, which was 26% higher than the preceding year. Grayson Hall, the CEO of Regions, claimed that the result showed that they were delivering solid revenue growth, through increased deposits and non-interest income. He further commented that the interest rate environment continues to remain depressed, which means the management would continue to increase efficiency and make prudent investments in the company’s business.
Regions noted that it had suffered a 1% decline in net interest income, owing mainly to decreased market activity, in the sector. However, total revenue reported a $60 million increase, on a quarter-over-quarter basis, with an interest margin for the 3Q2016 was 3.06%. In addition to this, RF also acquired a corporate fund syndication and asset management business, from First Sterling Financial, during the 3Q2016. The company stated that this was done in an effort to diversify its business portfolio and revenue opportunities.
RF also announced several financial services, to businesses and customers affected by hurricane Mathew, so as to help them recover. Brett Couch, the president of the eastern region at RF, voiced his opinion that the hurricane had affected different people in different ways, but no matter how they were affected, Regions is there to help them. He claimed that the financial services would make it easier for customers and businesses to recover.
Regions Financial Corp (NYSE:RF) gained 0.56% in terms of its share value, on a trade volume of 14.58 million, to close at $10.71 per share, at the end of the October 31 trading session.
