Regions Financial's per-share profit rose 8 percent to $0.64 in the second quarter

Regions Financial reported second-quarter net income of $570m, of which $549m was available to common shareholders, up from $539m in the first quarter. Diluted earnings per share were $0.64, an increase of 8 percent from a year earlier. On an adjusted basis the bank earned $0.68 a share, up 13 percent, with the gap between the two figures reflecting one-off items. Total revenue was little changed. Net interest income rose to $1.28bn from $1.25bn in the first quarter, and the net interest margin held at 3.66 percent, a fraction below the prior quarter, which the bank credited to a hedging program built to keep the margin steady as rates move. The efficiency ratio was 58.3 percent and the common equity Tier 1 ratio was 10.7 percent. Regions repurchased about 2.1 million shares for $59m and declared $226m in common dividends during the quarter. This week its board raised the quarterly dividend 13 percent, to $0.30 a share. Figures are from the earnings release filed with the SEC. The Birmingham, Alabama lender is among the first regional banks to report this season.