Regions Bank 2011 Annual Report Download - page 75

Table 1—Financial Highlights
2011 2010 2009 2008 2007
(In millions, except per share data)
EARNINGS SUMMARY
Interest income ...................................................... $ 4,252 $ 4,637 $ 5,277 $ 6,465 $ 7,894
Interest expense ..................................................... 842 1,248 1,984 2,677 3,557
Net interest income .................................................. 3,410 3,389 3,293 3,788 4,337
Provision for loan losses .............................................. 1,530 2,863 3,541 2,057 555
Net interest income (loss) after provision for loan losses ..................... 1,880 526 (248) 1,731 3,782
Non-interest income .................................................. 2,143 2,489 2,765 2,132 1,918
Non-interest expense ................................................. 3,862 3,859 3,785 9,895 3,821
Income (loss) from continuing operations before income taxes ................ 161 (844) (1,268) (6,032) 1,879
Income tax expense (benefit) ........................................... (28) (376) (194) (383) 594
Income (loss) from continuing operations ................................. 189 (468) (1,074) (5,649) 1,285
Income (loss) from discontinued operations before income taxes ............... (408) (41) 66 81 (58)
Income tax expense (benefit) ........................................... (4) 30 23 28 (24)
Income (loss) from discontinued operations, net of tax ....................... (404) (71) 43 53 (34)
Net income (loss) .................................................... $ (215) $ (539) $ (1,031) $ (5,596) $ 1,251
Income (loss) from continuing operations available to common shareholders ..... $ (25) $ (692) $ (1,304) $ (5,675) $ 1,285
Net income (loss) available to common shareholders ........................ $ (429) $ (763) $ (1,261) $ (5,622) $ 1,251
Earnings (loss) per common share from continuing operations – basic .......... $ (0.02) $ (0.56) (1.32) (8.17) 1.81
Earnings (loss) per common share from continuing operations – diluted ......... (0.02) (0.56) (1.32) (8.17) 1.80
Earnings (loss) per common share – basic ................................. (0.34) (0.62) (1.27) (8.09) 1.77
Earnings (loss) per common share – diluted ............................... (0.34) (0.62) (1.27) (8.09) 1.76
Return on average common stockholders’ equity from continuing operations
(GAAP) ......................................................... (0.21)% (5.57)% (10.23)% (31.37)% 6.87%
Return on average tangible common stockholders’ equity from continuing
operations (non-GAAP) (1) ........................................... (0.36) (9.36) (17.13) (79.92) 17.15
Return on average assets from continuing operations (GAAP) ................. (0.02) (0.52) (0.93) (4.04) (0.95)
BALANCE SHEET SUMMARY
At year-end—Consolidated ............................................
Loans, net of unearned income ..................................... $ 77,594 $ 82,864 $ 90,674 $ 97,419 $ 95,379
Allowance for loan losses ......................................... (2,745) (3,185) (3,114) (1,826) (1,321)
Assets ......................................................... 127,050 132,351 142,318 146,248 141,042
Deposits ....................................................... 95,627 94,614 98,680 90,904 94,775
Long-term debt .................................................. 8,110 13,190 18,464 19,231 11,325
Stockholders’ equity ............................................. 16,499 16,734 17,881 16,813 19,823
Average balances—Continuing Operations ................................
Loans, net of unearned income ..................................... $ 80,673 86,660 $ 94,523 $ 97,601 $ 94,366
Assets ......................................................... 126,719 132,720 139,468 140,455 134,693
Deposits ....................................................... 95,671 96,489 94,612 90,077 95,725
Long-term debt .................................................. 11,240 15,489 18,501 13,422 9,089
Stockholders' equity .............................................. 15,350 15,916 16,224 18,514 18,721
SELECTED RATIOS
Allowance for loan losses as a percentage of loans, net of unearned income ...... 3.54 3.84 3.43 1.87 1.39
Allowance for credit losses as a percentage of loans, net of unearned income ..... 3.64 3.93 3.52 1.95 1.45
Tier 1 capital ....................................................... 13.28 12.40 11.54 10.38 7.29
Tier 1 common (non-GAAP) (1) ......................................... 8.51 7.85 7.15 6.57 NM
Total capital ........................................................ 16.99 16.35 15.78 14.64 11.25
Leverage ........................................................... 9.91 9.30 8.90 8.47 6.66
Tangible common stockholders’ equity to tangible assets (non-GAAP) (1) ........ 6.58% 6.04% 6.22% 5.43% 6.13%
Efficiency ratio (non-GAAP) (1) ......................................... 64.56 67.74 67.88 60.67 54.95
COMMON STOCK DATA
Cash dividends declared per common share ............................... $ 0.04 $ 0.04 $ 0.13 $ 0.96 $ 1.46
Stockholders' common equity per share ................................... 10.39 10.63 11.97 19.53 28.58
Market value at year end .............................................. 4.30 7.00 5.29 7.96 23.65
Market price range:
High .......................................................... 8.09 9.33 9.07 25.84 38.17
Low .......................................................... 2.82 5.12 2.35 6.41 22.84
Total trading volume ................................................. 5,204 6,381 8,747 3,411 912
Dividend payout ratio ................................................. NM NM NM NM 82.49
Shareholders of record at year-end (actual) ................................ 73,659 76,996 81,166 83,600 85,060
Weighted-average number of common shares outstanding ....................
Basic .......................................................... 1,258 1,227 989 695 708
Diluted ........................................................ 1,258 1,227 989 695 713
NM—Not meaningful
(1) See Table 2 for GAAP to non-GAAP reconciliations.
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