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regions 3Q 08 SUPP 1
The document summarizes Regions Financial Corporation's financial results for the third quarter of 2008. Key points include: - Earnings per share were $0.11, or $0.15 excluding charges. The results were impacted by a large loan loss provision and interest margin reduction. - Focus on disposing problem loans drove increased charge-offs but stabilized non-performing assets. - A tax settlement reduced net interest margin by 26 basis points for the quarter. Deposit disintermediation also impacted margins. - Expenses were well-controlled despite increased costs to sell foreclosed properties. The company intends to participate in the Treasury capital purchase program to further strengthen its capital position.
