SOURCE: Five Star Equities

Five Star Equities

May 29, 2012 08:20 ET

U.S. Banking Industry Looking Strong -- Posts $35.3 First Quarter Profit

Five Star Equities Provides Stock Research on Regions Financial and Synovus Financial

NEW YORK, NY--(Marketwire - May 29, 2012) - The U.S. Banking Industry has continued to show signs of recovery coming out of the recent recession. The industry saw just 16 FDIC-insured banks fail in the first quarter of the year, the lowest total since the end of 2008, according to the FDIC's quarterly banking profile. Also the number of banks at risk of failure fell to 772, the lowest total since the end of 2009, from 813 in the previous quarter. Five Star Equities examines the outlook for companies in the Banking Industry and provides equity research on Regions Financial Corporation (NYSE: RF) and Synovus Financial Corp. (NYSE: SNV).

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Last Thursday, the FDIC stated that the U.S. Banking Industry posted a first quarter profit of $35.3 billion, their best since 2007. FDIC-insured banks first quarter profits grew 23 percent ($6.6 billion) from the year prior, marking the 11th consecutive quarter profits have shown a year-over-year increase according to the FDIC. "The condition of the industry continues to gradually improve," said Martin J. Gruenberg, the FDIC's acting chairman. "Insured institutions have made steady progress in shedding bad loans, bolstering net worth and increasing profitability."

Five Star Equities releases regular market updates on the Banking Industry so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous stock reports and industry newsletters.

Regions Financial Corporation, with $128 billion in assets, is a member of the S&P 500 Index and is one of the nation's largest full-service providers of consumer and commercial banking, wealth management, mortgage, and insurance products and services. Regions last month reported first quarter net income available to common shareholders of $145 million or $0.11 per diluted share.

Synovus Financial Corp. is a financial services company with over $27 billion in assets. Synovus provides commercial and retail banking, investment and mortgage services to customers in Georgia, Alabama, South Carolina, Florida and Tennessee. The company last month reported net income available to common shareholders was $21.4 million for the first quarter of 2012, compared to net income of $12.8 million in the fourth quarter of 2011 and a net loss of $93.7 million in the first quarter of 2011.

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