bank but Crunch

I got earnings today... which I try not to trade But...

Regions Financial Corp. Tuesday reported first-quarter income from
continuing operations, excluding merger-related charges, of $383.6 million,
or
55 cents per share, topping the mean estimate of analysts polled by
Thomson
Financial of 48 cents a share.
Net interest income for the three
months
ended March 31 slipped to $1.03 billion from $1.18 billion a year
earlier.
The company also said that as part of a continuing process of
streamlining
the cost structure and improving operating leverage, it
eliminated about 700
positions late in the first quarter, which it
characterized as "redundant back
office and operational functions."
According to Thomson Financial data,
Regions employees about 33,161
people.
Shares of the Birmingham, Ala.-based
holding company closed
Monday at $18.56. Greg Saulnier gs/pc
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Financial News Limited 2007. All rights reserved. The
copying, republication
or redistribution of Thomson Financial News Content,
including by framing or
similar means, is expressly prohibited without the prior
written consent of
Thomson Financial News.

BUT

6 Billion in exposure to home builders