In a quarter it deemed "solid," Regions Financial (NYSE:RF) today reported that its earnings per share rose from $0.18 in the second quarter of last year to $0.21 in the second quarter of this year. That's an increase of 16.7%.

Although the bank saw a $30 million, or 2.4%, decline in its revenue, stemming largely from its mortgage income falling from $69 million to $43 million, it did recognize a 12% gain in its income from continuing operations.

Regions By Paul Sableman

Source:Flickr / Paul Sableman.

Despite the dip in revenue, this income growth -- from $268 million to $299 million -- was due in large part to a substantial decline in the expenses at Regions Financial, which fell by 7%, to $820 million.

On the business side of things, Regions Financial noted it recognized solid loan growth of $833 million, or 1.1%, over the first quarter. One of the biggest reasons behind this was the bank saw a 22% gain in its new and renewed loan production, resulting from it developing relationships with new customers and growing previously existing ones.

The biggest driver of loan growth was continued expansion of its commercial and industrial loans, which rose by $888 million, or 2.9% over the last three months. Since the second quarter of 2013 its total loans are up 8.3% to stand at $31.4 billion.

"These results demonstrate continued momentum as we effectively execute our business plans," added the president, chairman and CEO of Regions Financial, Grayson Hall, in the announcement. "By focusing on meeting our customers' needs, we are delivering sustainable and diversified revenue growth while controlling expenses and maintaining prudent credit standards."

Regions Financial also saw continued improvement in its credit quality, as its troubled debt restructurings have fallen from $3.4 billion to $1.8 billion over the last year. In addition its net charge-offs ratio has declined from 0.77% to 0.35%.

The bank noted the quarter was one of "steady progress," and the first review reveals the last three months were solid, but unspectacular for this bank.

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