Huntington Bancshares and Regions Financial Show Promising Loan Growth
November 01 2011 - 8:16AM
Marketwired
It appears Regional Banks have finally put the worst of the
recession behind them. For well over a year banks have posted
improved credit quality and in the second half of 2011 have begun
to report adequate loan growth. Analysts said business borrowers
are increasingly relying on banks for financing that they used to
get from the bond markets and elsewhere. The Bedford Report
examines the outlook for companies in the Regional Banking sector
and provides equity research on Regions Financial Corporation
(NYSE: RF) and Huntington Bancshares, Inc. (NASDAQ: HBAN). Access
to the full company reports can be found at:
www.bedfordreport.com/RF www.bedfordreport.com/HBAN
Regional bank stocks struggled as the European crisis deepened
over the last two months. The concern is that a debt default by
Greece could severely harm European banks that hold Greek debt.
Although many Regional Banks do not have a lot of -- if any --
direct exposure to the debts of European countries or banks,
analysts warned that a the European debt crisis could push the US
economy into recession, which would surely hurt regional banks.
With the Eurozone debt crisis showing signs of calming last
week, investors can once again focus on domestic operations at US
regional banks.
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Huntington Bancshares reported a third quarter profit of $143.4
million, up from $100.9 million a year earlier. The regional bank's
loan-loss provisions declined to $43.6 million from $119.2 million
a year earlier while its total loans and leases grew 4% from the
prior year, helped by 5.3% growth in consumer loans.
At Regions Financial, loan growth in the middle market
commercial and industrial customer segment continued, with ending
loans in this segment up 12.9 percent from one year ago.
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