After reporting a better than expected fourth quarter, Regions Financial continued its plans to expand in Houston, Texas, with the late January opening of branches in three of the city’s high-growth suburbs — Richmond, Cypress and Sugar Land.
Regions has staked Houston as a growth market. From June 30, 2018, to June 30, 2019, the Birmingham-based Regions added 12 branches in and around the Houston metro area, where Regions holds the 20th largest market share.
Announced January 17, Regions’ fourth-quarter 2019 adjusted earnings of $0.40 per share beat the estimates of most analysts, recording a 5.3 percent rise year-to-year. Analysts polled by Thomson Financial expected the company to report earnings of $0.39 per share for the quarter on revenues of $1.48 billion.
Regions reported fourth-quarter net income available to shareholders of $366 million, or $0.38 per share, compared to $390 million, or $0.37 per share, in the year-before.
Total revenue for the quarter rose 3 percent, to $1.48 billion, from $1.44 billion in the same period last year. Adjusted total revenue also rose to $1.48 billion from $1.44 billion last year.
Net interest income and other financing income decreased 4 percent.
