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regions Bernstein 

regions Bernstein

 

 
 
Tags:  low mortgage  balance  management  income  earning  quarterly  earnings  financial  annual  results  sheet  500  finance  regions  fortune  business 
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Published:  November 01, 2011
 
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Slide 1: Sanford Bernstein 2007 Strategic Decisions Conference May 30, 2007
Slide 2: FORWARD LOOKING STATEMENT The information contained in this presentation may include forward looking statements which reflect Regions' current views with respect to future events and financial performance. The Private Securities Litigation Reform Act of 1995 ("the Act") provides a safe-harbor for forward-looking statements which are identified as such and are accompanied by the identification of important factors that could cause actual results to differ materially from the forward-looking statements. For these statements, we, together with our subsidiaries, unless the context implies otherwise, claim the protection afforded by the safe harbor in the Act. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results, or other developments. Forward-looking statements are based on management's expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, uncertainties, and other factors that may cause actual results to differ materially from the views, beliefs, and projections expressed in such statements. These risks, uncertainties and other factors include, but are not limited to, those described below: ● Regions' ability to achieve the earnings expectations related to businesses that have been acquired, or that may be acquired in the future, including its merger with AmSouth Bancorporation ("AmSouth"), which in turn depends on a variety of factors, including: ○ Regions' ability to achieve the anticipated cost savings and revenue enhancements with respect to the acquired operations, or lower than expected revenues from continuing operations; ○ the assimilation of the acquired operations to Regions' corporate culture, including the ability to instill appropriate credit practices and efficient approaches to the acquired operations; ○ the continued growth of the markets that the acquired entities serve, consistent with recent historical experience; ○ difficulties related to the integration of the businesses, including integration of information systems and retention of key personnel. ● Regions' ability to expand into new markets and to maintain profit margins in the face of competitive pressures. ● Regions' ability to keep pace with technological changes. ● Regions' ability to develop competitive new products and services in a timely manner and the acceptance of such products and services by Regions' customers and potential customers. ● Regions' ability to effectively manage interest rate risk, market risk, credit risk and operational risk. ● Regions' ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support Regions' business. ● The cost and other effects of material contingencies, including litigation contingencies. ● Further easing of restrictions on participants in the financial services industry, such as banks, securities brokers and dealers, investment companies and finance companies, may increase competitive pressures. ● Possible changes in interest rates may increase funding costs and reduce earning asset yields, thus reducing margins. ● Possible changes in general economic and business conditions in the United States in general and in the communities Regions serves in particular may lead to a deterioration in credit quality, thereby increasing provisioning costs, or a reduced demand for credit, thereby reducing earning assets. ● The occurrence of natural disasters or the threat or occurrence of war or acts of terrorism and the existence or exacerbation of general geopolitical instability and uncertainty. ● Possible changes in trade, monetary and fiscal policies, laws, and regulations, and other activities of governments, agencies, and similar organizations, including changes in accounting standards, may have an adverse effect on business. ● Possible changes in consumer and business spending and saving habits could affect Regions' ability to increase assets and to attract deposits. The words "believe," "expect," "anticipate," "project," and similar expressions signify forward looking statements. Readers are cautioned not to place undue reliance on any forward looking statements made by or on behalf of Regions. Any such statement speaks only as of the date the statement was made. Regions undertakes no obligation to update or revise any forward looking statements.
Slide 3: Company Profile Integration Update 2007 Initiatives Financial Performance Brand Promise
Slide 4: A Top Ten U.S. Bank Holding Company National Rank1 › Market Capitalization › Assets › Loans, net of unearned income › Deposits › Branches › ATMs $26 billion $138 billion $94 billion $95 billion 1,913 2,590 10th 10th 9th 8th 7th 8th 1 As of March 31, 2007.
Slide 5: Franchise Footprint State Dep. ($B) Mkt. Share Rank AL FL TN LA MS GA AR TX MO IN Regions Morgan Keegan Insurance $20.8 18.4 17.6 7.8 6.5 5.5 4.4 2.9 2.3 1.9 4.3 30% 5 17 11 16 3 10 1 2 2 — #1 #4 #2 #3 #1 #6 #1 #19 #7 #10 — Other Source: SNL DataSource. Deposit data as of 30-Jun-2006.
Slide 6: Significant Presence in Key MSAs Birmingham Nashville Miami Tampa Memphis Mobile New Orleans Saint Louis Atlanta Montgomery - 1.0 2.0 3.0 4.0 5.0 6.0 7.0 Deposits in billions Source: SNL DataSource. Deposit data as of 30-Jun-2006; all data shown on pro forma combined basis
Slide 7: Strong Local Market Share Top U.S. Banks Wells Fargo BB&T Regions / AmSouth Wachovia JPMorgan Chase Bank of America Fifth Third US Bancorp Regions AmSouth National City SunTrust Citigroup 1 Weighted Average Market Share1 23.8% 21.3 20.4 20.3 19.2 18.8 18.7 17.8 15.7 15.4 15.1 14.9 10.9 Regions compares favorably in terms of local market share relative to other top 10 banking franchises Deposit weighted by county. Excludes deposits from branches with > $10bn of deposits. Based on June 30, 2006 data.
Slide 8: Company Profile Integration Update 2007 Initiatives Financial Performance Brand Promise
Slide 9: Key Integration Accomplishments › Announced Organizational Decisions › Identified Major Systems and Started Conversions › Completed Divestitures › Began Executing Branch Consolidation Plans
Slide 10: Organizational Structure Lines of Business Business Banking Geographies Alabama East Florida Midwest Mississippi Tennessee West Matrix Business Model Commercial Banking Consumer Banking Private Banking Mortgage Morgan Keegan Trust & Asset Mgmt
Slide 11: Conversion Timeline ✓ Combined Product Set & Incentives ✓ Complete Sale of Divested Branches • Achieve $400 MM Annual Run-rate in Cost Saves 1Q07 ✓ Brokerage 2Q07 3Q07 4Q07 1Q08 2Q08 Conversion ✓ Mortgage Origination & Servicing Conversion • Phase One Branch Conversion • Phase Two Branch Conversion • Phase Three Branch Conversion • Phase Four Branch Conversion • Trust Conversion
Slide 12: Required Branch Divestitures All divestitures completed in 1Q07. State # of Branches 6 7 39 52 Total Deposits ($B) .3 .4 $2.0 $2.7 Total Loans ($B) .1 .1 $1.5 $1.7 ✓ Mississippi ✓ Tennessee ✓ Alabama Total Expected impact to pre-tax income: $23MM per quarter.
Slide 13: Branch Conversion Schedule Event 1 3Q07
Slide 14: Branch Conversion Schedule Event 1 Event 2 3Q07 4Q07
Slide 15: Branch Conversion Schedule Event 1 Event 2 Event 3 3Q07 4Q07 1Q08
Slide 16: Branch Conversion Schedule Event 1 Event 2 Event 3 Event 4 3Q07 4Q07 1Q08 2Q08
Slide 17: Measuring the Customer Experience › Measurement Plans › Gallup Organization, Greenwich Organization and Customer Surveys › Trend Identification › Tracking over 100 operational metrics › Effective Communications › Flashpoint Process
Slide 18: Company Profile Integration Update 2007 Initiatives Financial Performance Brand Promise
Slide 19: Consumer Services Established Targets for 2007 › Consumer checking household growth of 2% › Retain a minimum of 85% of the consumer checking households › New customer cross-sell ratio of 4.5 services per household › Grow private banking households by 20% › Cross-sell 90% of new mortgage customers a deposit or loan product
Slide 20: Regions’ Branching – A Proven Strategy 2007 De Novo Branches Florida Alabama Tennessee Other Total 33 3 5 9 50 Typical Results – Year 5 Deposits $42 million Loans $31 million $1 million cumulative net contributions 16.4% IRR
Slide 21: Business Services Commercial and Industrial/ Middle Market Commercial Real Estate Business Banking Community Banking Corporate Banking Treasury Management
Slide 22: Summary of Key Initiatives › Leverage New Capabilities and Credit Limits › Drive Improvements in Sales Process › Fully Develop Morgan Keegan Partnership › Cross-sell
Slide 23: Tools for Driving the Business › Monitoring System – Pipeline, Closed Business and Call Activity › Relationship Pricing Model/Exception Reporting › Scorecards › Enhanced Client Services Capability › Broadened Marketing Capabilities › Client Profitability
Slide 24: Morgan Keegan Impact of Leveraging Across a Broader Franchise 1Q06 1Q07 453 1,240 $ 78 B $ 79 B $ 302 M 25,000 › › › › › › Offices Financial Advisors Customer Assets Trust Assets Total Revenues1 New Accounts 301 1,070 $ 61 B $ 37 B $ 239 M 22,900 1 1Q06 revenues exclude a $13.1 pre-tax gain on sale related to the swap of NYSE seats for stock.
Slide 25: Company Profile Integration Update 2007 Initiatives Financial Performance Brand Promise
Slide 26: 2007 Core Expectations Loan Growth Deposit Growth Net Interest Margin Net Charge-offs Non-interest Expenses Low single-digit growth Low single-digit growth ~ 3.85% Mid-20 bps $4.1 – 4.3 billion
Slide 27: Net Cost Saves: On-track Net Cost Savings 4Q06 $7 MM 2007E Estimated $150 MM 2008E Full run-rate achieved by 2Q 2008 Estimated $400 MM $0 $100 $200 $300 $400
Slide 28: Branch Consolidations Florida Alabama Tennessee Louisiana Mississippi Georgia Arkansas Missouri Total 35 31 55 17 12 2 2 2 156 Event 3 Event 4 Event 2 Event 1 Targeted closure dates to coincide with system conversions Significant source of efficiency gain
Slide 29: Capital Management – A Strategic Opportunity › During 2Q07: • Lowered overall cost of capital by issuing $700MM 6.625% Enhanced Trust Preferred Securities • Executed accelerated 14.2MM share repurchase › Capital ratios remain strong 1Q07 Tier 1 Capital Total Risk Based Tangible Common 7.96% 11.22 6.52 Projected 2Q07 7.90% 11.40 6.20
Slide 30: Company Profile Integration Update 2007 Initiatives Financial Performance Brand Promise
Slide 31: Our Brand Promise to Customers “You can expect more from Regions. Yes, we are in the business of banking. But we are also in the business of life. And while our financial solutions will help you get more from your money, it is our mission to help you get more out of life.”

   
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