Tuesday, 2 Sep 2008 | Source: The Associated Press
Shares of Regions Financial Corp. rose in premarket trading Tuesday, the first trading day after the regional bank said it has assumed about $900 million in deposits from failed Integrity Bank.
U.S. banks will unleash a tide of poor quarterly results over the next two weeks, yet investors may choose to focus instead on when a recovery might be at hand and how much more capital raising and dividend cutting will be needed to achieve it.
Several U.S. regional banks reported better-than-expected quarterly results Tuesday, and expressed confidence they could withstand soaring credit losses as the nation's housing market and economy slump.