Boston, MA 01/24/2014 (wallstreetpr) – Regions Financial Corporation (NYSE:RF) is expanding its community responsibility commitment by supporting a free adult financial education program for the residents of Birmingham, Alabama. The bank is joining forces with other organizations such as Protective Life Corporation and Operation HOPE.
Commitment to community
Leaders of the three organizations met Thursday at Regions headquarters to announce the program that is hoped would help people build wealth and manage their finances properly towards creating a stronger community. Regions CEO Grayson Hall represented the bank at the meeting.
Regions Financial Corporation (NYSE:RF) offers an array of financial services such as mortgage and a number of banking solutions. Like most other financial institution, RF‘s revenue and profits are impacted by low interest rates on loans and high interest rates on mortgages.
The institution is now making efforts to join forces with strategic partners to boost its business performance. And as things look, it seems the company has realized that it can make the most out of its resources by expanding financial literacy, thus this agreement to support free financial education for residents of Birmingham.
Latest financial performance
The bank recently reported earnings whereby it earned net income of $219 million in the fourth quarter of fiscal 2013 and $1.1 billion for the full-year 2013. Earnings realized in the just reported Q4 were down 16 percent compared to a corresponding quarter a year earlier. Nonetheless, the bank managed to boost its full-year performance with net income rising 10 percent above 2012 figure.
In view of these results, Regions Financial Corporation (NYSE:RF)’s earnings per share came in at 16 cents and 77 cents for the Q4 and full-year 2013. That compares to 18 cents and 71 cents in Q4.12 and 2012 full-year. Even though RF failed to post stronger net income in its latest Q4, its tangible book value increased to $7.54 at the end of 2013, from $7.11 at the end of 2012.
