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Before Regions Financial Corp. considers M&A opportunities, the company is focusing on using excess capital to grow loans.
"What we'd like to do is use our capital we have today to grow our bank, in particular grow our loans," CFO and Senior Executive Vice President David Turner Jr. said. "We have a securities book that is 25% of our earning assets. If we could redeploy that into good, old-fashioned loan growth and use capital to do so, that would be our best [bet], and that's what we're trying to do."
Turner made the comments during the Morgan Stanley Financials Conference on June 12. If loan growth is not a possibility, he said the company looks at opportunities to acquire. He pointed to Regions' purchase of a credit card portfolio...