Regions Bank 2010 Annual Report Download - page 60

Table 1—Financial Highlights
2010 2009 2008 2007 2006
(In millions, except per share data)
EARNINGS SUMMARY
Interest income ................................................... $ 4,689 $ 5,332 $ 6,563 $ 8,074 $ 5,649
Interest expense ................................................... 1,257 1,997 2,720 3,676 2,341
Net interest income ................................................ 3,432 3,335 3,843 4,398 3,308
Provision for loan losses ............................................ 2,863 3,541 2,057 555 142
Net interest income (loss) after provision for loan losses ................... 569 (206) 1,786 3,843 3,166
Non-interest income ............................................... 3,531 3,755 3,073 2,856 2,030
Non-interest expense ............................................... 4,985 4,751 10,792 4,660 3,204
Income (loss) before income taxes from continuing operations .............. (885) (1,202) (5,933) 2,039 1,992
Income tax expense (benefit) ........................................ (346) (171) (348) 646 619
Income (loss) from continuing operations .............................. (539) (1,031) (5,585) 1,393 1,373
Income (loss) from discontinued operations before income taxes ............ — — (18) (217) (32)
Income tax expense (benefit) ........................................ — — (7) (75) (13)
Income (loss) from discontinued operations ............................. — — (11) (142) (19)
Net income (loss) ................................................. $ (539) $ (1,031) $ (5,596) $ 1,251 $ 1,354
Income (loss) from continuing operations available to common shareholders . . $ (763) $ (1,261) $ (5,611) $ 1,393 $ 1,373
Net income (loss) available to common shareholders ..................... $ (763) $ (1,261) $ (5,622) $ 1,251 $ 1,354
Earnings (loss) per common share from continuing operations—basic ........ $ (0.62) $ (1.27) $ (8.07) $ 1.97 $ 2.74
Earnings (loss) per common share from continuing operations—diluted ...... (0.62) (1.27) (8.07) 1.95 2.71
Earnings (loss) per common share—basic .............................. (0.62) (1.27) (8.09) 1.77 2.70
Earnings (loss) per common share—diluted ............................. (0.62) (1.27) (8.09) 1.76 2.67
Return on average tangible common stockholders’ equity (non-GAAP) ....... (9.29)% (14.92)% (71.29)% 15.12% 22.18%
Return on average common stockholders’ equity ......................... (5.47) (8.82) (28.81) 6.24 10.94
Return on average total assets, (non-GAAP) ............................ (0.56) (0.88) (3.90) 0.90 1.41
BALANCE SHEET SUMMARY
At year-end
Loans, net of unearned income ................................... $ 82,864 $ 90,674 $ 97,419 $ 95,379 $ 94,551
Assets ...................................................... 132,351 142,318 146,248 141,042 143,369
Deposits ..................................................... 94,614 98,680 90,904 94,775 101,228
Long-term debt ............................................... 13,190 18,464 19,231 11,325 8,643
Stockholders’ equity ........................................... 16,734 17,881 16,813 19,823 20,701
Average balances
Loans, net of unearned income ................................... 86,660 94,523 97,601 94,372 64,766
Assets ...................................................... 135,955 142,759 143,947 138,757 95,800
Deposits ..................................................... 96,489 94,612 90,077 95,725 67,466
Long-term debt ............................................... 15,547 18,588 13,510 9,698 6,856
Stockholders’ equity ........................................... 17,444 17,773 19,939 20,036 12,369
SELECTED RATIOS
Tangible common stockholders’ equity to tangible assets (non-GAAP) ....... 6.04% 6.22% 5.43% 6.13% 6.81%
Allowance for loan losses as a percentage of loans, net of unearned income . . . 3.84 3.43 1.87 1.39 1.12
Allowance for credit losses as a percentage of loans, net of unearned income . . 3.93 3.52 1.95 1.45 1.17
Efficiency Ratio (non-GAAP) ........................................ 71.83 72.08 64.97 58.83 56.44
Tier 1 common (non-GAAP) ........................................ 7.85 7.15 6.57 NM NM
Tier 1 capital ..................................................... 12.40 11.54 10.38 7.29 8.07
Total capital ...................................................... 16.35 15.78 14.64 11.25 11.54
COMMON STOCK DATA
Cash dividends declared per common share ............................. $ 0.04 $ 0.13 $ 0.96 $ 1.46 $ 1.40
Stockholders’ common equity per share ................................ 10.62 11.97 19.53 28.58 28.36
Market value at year end ............................................ 7.00 5.29 7.96 23.65 37.40
Market price range:
High ........................................................ 9.33 9.07 25.84 38.17 39.15
Low ........................................................ 5.12 2.35 6.41 22.84 32.37
Total trading volume ............................................... 6,381 8,747 3,411 912 301
Dividend payout ratio .............................................. NM NM NM 82.49 51.85
Shareholders of record at year-end (actual) ............................. 76,996 81,166 83,600 85,060 84,877
Weighted-average number of common shares outstanding
Basic ....................................................... 1,227 989 695 708 502
Diluted ...................................................... 1,227 989 695 713 507
(1) Beginning in 2010, tangible ratios are computed net of deferred taxes associated with intangible assets. Prior periods have been revised to
conform with current presentation.
(2) NM—Not meaningful
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