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December 5, 2012
09:39 EDTRFRegions Financial entered into agreement with third party investor on Nov. 30
In an 8K filing, Regions said it entered into an agreement with a third party investor in Regions Asset Management Company on November 30, pursuant to which the investment was fully redeemed. This resulted in extinguishing a $203M liability, including accrued, unpaid interest, as well as incurring early termination costs of approximately $42M on a pre-tax basis. This will result in approximately $38M in after tax expense for the fourth quarter.Excluding the early termination costs, during 2012 Regions incurred approximately $28M of non-interest expenses related to this liability. Approximately $13M in non-interest expense occurred during the first quarter of the year and approximately $15M occurred from January through November, the latter of which was not deductible for income tax purposes. These costs will no longer recur.
News For RF From The Last 14 Days
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November 23, 2015
16:17 EDTRFRegions Financial initiated with a Neutral at Piper Jaffray
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November 19, 2015
11:18 EDTRFRegions Financial sees long-term EPS CAGR of 12%-15%
Sees long-term efficiency ratio of under 60% by eliminating $300M in expenses over next three years to fund revenue-producing businesses while keeping expenses flat to slightly up. Sees long-term ROATCE of 12%-14%.
11:17 EDTRFRegions Financial sees FY16 average loan growth of 3%-5%
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06:35 EDTRFRegions Financial to host investor day
Investor Day to be held in New York on November 19 at 8 am. Webcast Link
November 17, 2015
10:02 EDTRFHigh option volume stocks
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November 13, 2015
16:40 EDTRFAppaloosa gives quarterly update on stakes
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