On April 17, Birmingham, Ala.-based bank Regions Financial (NYSE:RF) released Q1 earnings for the period ended March 31. Here are the quick and dirty details for the quarter.

  • Total reported revenue grew 56% to $1.8 billion, and net interest income also expanded significantly, as Regions continued to digest its hefty AmSouth acquisition.

  • Subprime concerns appear minimal at Regions; it cited limited exposure, thanks primarily to the sale of Equifirst, its "non-conforming mortgage origination business."

  • Total reported diluted earnings fell nearly 30%, but after stripping out merger integration charges, results were similar to last year's levels.

  • Regions carries a two-star rating in Motley Fool CAPS, as do regional rivals Wachovia (NYSE:WB) and First Horizon (NASDAQ:FHN). Compass (NASDAQ:CBSS) carries an even lower one-star rating, but Bank of America (NYSE:BAC) has a more favorable four stars.    

(Figures in thousands, except per-share data)

Income Statement Highlights

Q1 2007

Q1 2006

Change

Total Revenue

$1,818,950

$1,165,699

56.0%

Net Interest Income

$1,169,038

$732,928

59.5%

Net Profit

$332,981

$294,680

13.0%

EPS

$0.45

$0.64

(29.7%)

Adjusted EPS

$0.65

$0.65

0.0%

Get back to basics with a look at the income statement.

Ratio Checkup

Q1 2007

Q1 2006

Change*

Net Interest Margin

3.99%

4.18%

(0.19%)

Nonperforming Assets / Assets

0.31%

0.48%

(0.18%)

Return on Average Assets

0.95%

1.40%

(0.45%)

Return on Average Equity

6.60%

11.18%

(4.58%)

*Expressed in percentage points.

Find out more about bank ratios.

Balance Sheet Highlights

Assets

Q1 2007

Q1 2006

Change

Investments

$22,888,664

$15,032,894

52.3%

Loans

$94,287,650

$59,225,583

59.2%

Liabilities

Q1 2007

Q1 2006

Change

Deposits

$95,336,648

$60,519,479

57.5%

Total Liabilities

$117,753,902

$73,937,733

59.3%

Learn about bank assets and bank liabilities.

Related Foolishness:

Bank of America and First Horizon are Income Investor recommendations.

Fool by Numbers is designed to give you the raw earnings information in a timely fashion, putting all the numbers you need in one easy-to-read place. But at The Motley Fool, we believe numbers tell only part of the story, so check Fool.com for more of our in-depth discussion of what the numbers mean.

Fool contributor Ryan Fuhrmann has no financial interest in any company mentioned. Feel free to email him with feedback or to discuss any companies mentioned further. The Fool has an ironclad disclosure policy.