Regions Bank 2012 Annual Report Download - page 136

REGIONS FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended December 31
2012 2011 2010
(In millions, except per share data)
Interest income on:
Loans, including fees ............................................................ $3,178 $3,444 $3,705
Securities:
Taxable ................................................................... 681 758 873
Tax-exempt ................................................................ — — 1
Total securities ......................................................... 681 758 874
Loans held for sale .............................................................. 33 36 39
Trading account assets ........................................................... 2 1 4
Other interest-earning assets ....................................................... 9 13 15
Total interest income ........................................................ 3,903 4,252 4,637
Interest expense on:
Deposits ...................................................................... 284 472 755
Short-term borrowings ........................................................... 2 (1) 4
Long-term borrowings ........................................................... 317 371 489
Total interest expense ........................................................ 603 842 1,248
Net interest income .......................................................... 3,300 3,410 3,389
Provision for loan losses .............................................................. 213 1,530 2,863
Net interest income after provision for loan losses ..................................... 3,087 1,880 526
Non-interest income:
Service charges on deposit accounts ................................................ 985 1,168 1,174
Investment fee income ........................................................... 110 64 69
Mortgage income ............................................................... 363 220 247
Trust department income ......................................................... 195 199 196
Securities gains, net ............................................................. 48 112 394
Leveraged lease termination gains .................................................. 14 8 78
Other ......................................................................... 385 372 331
Total non-interest income ..................................................... 2,100 2,143 2,489
Non-interest expense:
Salaries and employee benefits ..................................................... 1,763 1,604 1,640
Net occupancy expense .......................................................... 382 388 411
Furniture and equipment expense ................................................... 261 275 277
Goodwill impairment ............................................................ — 253 —
Regulatory charge ............................................................... — — 75
Other ......................................................................... 1,120 1,342 1,456
Total non-interest expense .................................................... 3,526 3,862 3,859
Income (loss) from continuing operations before income taxes ................................ 1,661 161 (844)
Income tax expense (benefit) .......................................................... 482 (28) (376)
Income (loss) from continuing operations ................................................ $1,179 $ 189 $ (468)
Discontinued operations:
Loss from discontinued operations before income taxes ................................. (99) (408) (41)
Income tax expense (benefit) ...................................................... (40) (4) 30
Loss from discontinued operations, net of tax ......................................... (59) (404) (71)
Net income (loss) ................................................................... $1,120 $ (215) $ (539)
Net income (loss) from continuing operations available to common shareholders ................. $1,050 $ (25) $ (692)
Net income (loss) available to common shareholders ....................................... $ 991 $ (429) $ (763)
Weighted-average number of shares outstanding:
Basic ......................................................................... 1,381 1,258 1,227
Diluted ....................................................................... 1,387 1,258 1,227
Earnings (loss) per common share from continuing operations:
Basic ......................................................................... $ 0.76 $ (0.02) $ (0.56)
Diluted ....................................................................... 0.76 (0.02) (0.56)
Earnings (loss) per common share:
Basic ......................................................................... $ 0.72 $ (0.34) $ (0.62)
Diluted ....................................................................... 0.71 (0.34) (0.62)
Cash dividends declared per common share ............................................... 0.04 0.04 0.04
See notes to consolidated financial statements.
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