Regions expects noninterest revenue to move higher in Q2

|About: Regions Financial Corpor... (RF)|By:, SA News Editor

Noninterest revenue of $438M in Q1 fell from $526M the previous quarter and $501M a year ago, but Regions (RF -0.5%) - presenting at the Morgan Stanley financials conference - says Q1 may have been the trough.

Webcast and presentation slides

While industry mortgage production is expected to be lower by 40% this year, Regions expects just a 20-25% decline for itself. Hoping to offset this falloff, Regions is planning to expand small credit product offerings.

Alongside the drift upward in noninterst revenue, management expects the efficiency ratio - 66.9% in Q1 - to drift lower (a good  thing).