For most of 2010, the Alabama-based bank continued to suffer losses as foreclosures further hampered the U.S. real estate market. Since the housing crash began in 2007, Regions hasn't posted an annual profit and it's written off billions in loans, mostly tied to developers, homebuilders and mortgage borrowers in Georgia and Florida.
Regions was one of several troubled banks that received helped from the U.S. government. In November, Standard & Poor's ratings service downgraded Regions to junk status on worries that its portfolio of bad loans would crimp its future earnings and capital.
But the lender has started 2011 off on modestly better footing. During the first three months, it posted a profit, reflecting fewer funds reserved to cover loan defaults and a significant reduction in loans written off as uncollectible.
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