Regions Bank 2008 Annual Report Download - page 56
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NON-INTEREST EXPENSE
The following section contains a discussion of non-interest expense from continuing operations. The largest
components of non-interest expense are salaries and employee benefits, net occupancy expense and furniture and
equipment expense. Total non-interest expense for 2008 also includes a $6.0 billion non-cash goodwill
impairment charge. Non-interest expense, excluding the merger-related and goodwill impairment charges,
increased $282.0 million, or 6.5 percent, to $4.6 billion in 2008. Included in non-interest expense are pre-tax
merger-related expenses totaling $200.2 million in 2008 and $350.9 million in 2007.
Table 8 “Non-Interest Expense (including Non-GAAP reconciliation)” presents major non-interest expense
components, both including and excluding merger-related expenses and goodwill impairment, for the years ended
December 31, 2008, 2007 and 2006. Management believes Table 8 is useful in evaluating trends in non-interest
expense. Note that merger-related charges as shown in this table relate to Regions’ acquisition of AmSouth in
November 2006. See Table 2 “GAAP to Non-GAAP Reconciliation,” and the text preceding it, for further
discussion of non-GAAP financial measures.
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