Bank holding company Regions Financial Corp. reported its third consecutive quarterly profit in its second quarter results on Tuesday as it looks to shed its Morgan Keegan brokerage business.
Regions Financial posted $109 million in net income for the second quarter ending June 30, up from $69 million for the first quarter and a $277 million net loss the year before. Net income available to shareholders amounted to $55 million for the second quarter, or $.04 per share, versus $17 million or $.01 per share for the first quarter and a net loss of $335 million or $.28 per share one year ago.
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