Regions raises new capital

For those following local banking news, Regions Financial Corp said it raised new capital. According to this report from Reuters (see story embedded below), “Regions, a Birmingham, Alabama lender operating mainly in the southeast, said it sold $1.85 billion of common stock and preferred shares convertible into common stock. It also said it will exchange 112 million common shares for other preferred securities, less than it previously expected.”

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    Of course the public relations department of this horrible bank wants to put SOMETHING positive out following its disaster at the rained out Regions Charity Classic Golf Tournament that was held this past weekend here in Birmingham.

    Raised new capital eh? Well the only thing this bank raises is concerns and stress levels.

    Oh BTW? WTF is up with NOBODY in the upper echelon at Regions not making ANY public interviews? Oh that’s right … they shoved their dirty laundry down the throat of Gene Hallman.

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