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Business, Finance, Occupation & Industry

1st Source Bank Named to Bank Director Magazine 'Nifty Fifty' List

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By Business Wirevia The Motley Fool

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1st Source Bank Named to Bank Director Magazine ‘Nifty Fifty’ List

SOUTH BEND, Ind.–(BUSINESS WIRE)– 1st Source Bank has been named to Bank Director Magazine’s ‘Nifty Fifty‘ list of high performing banks. 1st Source ranked #24 on the list which ranks the top 50 best users of capital based on profitability and capital strength. 1st Source ranked higher on the ‘Nifty Fifty‘ list than any other bank in northern Indiana or southwestern Michigan and is one of only three in Indiana to have made the list.

“We are pleased to be recognized on Bank Director Magazine’s ‘Nifty Fifty‘ list of high performing banks,” said Christopher J. Murphy III, Chairman and CEO of 1st Source. “This recognition reflects our strong position and our commitment to our clients and shareholders. Because of our strong balance sheet, we are able to be distinctively convenient, provide straight talk and sound advice to our clients, and always keep their best interests in mind, as we have for the last 150 years.”

In compiling the ‘Nifty Fifty‘ list, Bank Director Magazine and Sandler O’Neill + Partners measured all banks and thrifts that publicly trade on the NYSE, NASDAQ, or NYSE Amex stock exchanges. The metrics of core return on tangible common equity and the ratio of tangible common equity to tangible assets were used to determine the rankings. Data was used from eight consecutive quarters through June 2012.

1st Source Corporation, parent company of 1st Source Bank, has assets of $4.55 billion and is the largest locally controlled financial institution headquartered in the northern Indiana-southwestern Michigan area. The Corporation includes 76 banking centers in 17 counties, 22 1st Source Bank Specialty Finance Group locations nationwide, nine Trust and Wealth Management locations and nine 1st Source Insurance offices.

1st Source common stock is traded on the NASDAQ Global Select Market under “SRCE” and appears in the National Market System tables in many daily newspapers under the code name “1st Src.” For 150 years, 1st Source has been committed to the success of the communities it serves. For more information, visit www.1stsource.com.

1st Source Corporation
Angie Dvorak, 574-235-2128

KEYWORDS:   United States  North America  Illinois  Indiana  Michigan

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The article 1st Source Bank Named to Bank Director Magazine ‘Nifty Fifty’ List originally appeared on Fool.com.

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Source: FULL ARTICLE at DailyFinance

Business, Finance, Occupation & Industry

Regions Financial Shareholders: Prepare for More Dividends

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By Matt Koppenheffer, The Motley Fool

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If more dividends and share buybacks were on the 2013 wish list for Regions Financials  shareholders, then dreams are coming true.

In the release of the Dodd-Frank stress tests last week, we saw that Regions’ financial position has improved markedly from last year. And last year, the bank’s capital plans revolved around raising new cash through share sales so it could pay down its TARP investment. But the rubber was set to meet the road this week as the Fed was on tap to release whether Regions’ 2013 capital plans — which investors hoped included capital distributions — were approved.

So I don’t keep you in suspense: They were approved, and they did include notable capital distributions. 

Show me the dividends!
Since the financial crisis, Regions’ dividend has been stalled out at the token rate of $0.01 per quarter. Following the latest stress-test results, that will be no more.

Source: Bank press release.

While the increase only brings Regions’ dividend yield to 1.4% (based on today’s stock price), it’s a good deal better than what shareholders were getting before, and a positive sign for the future.

What else do I get?
It wasn’t just dividends that the Fed gave Regions the go-ahead for; it also approved share buybacks for up to $350 million.

Source: Bank press release.

Notably, that only includes common share repurchases. The bank was also given approval to buy back up to $500 million of trust preferred securities.

While share buybacks can be an iffy proposition for shareholders if done at the wrong time, with Regions’ stock trading at a discount to book value, it strikes me as a pretty advantageous time for the bank to be conducting buybacks.

Onward and upward?
Regions has made it onto my personal bank watchlist and may soon be part of my personal portfolio. While the bank took some serious lumps during the downturn, it appears to be putting that in the rear view and turning over a new leaf. Capital strength is only part of the picture for a bank like Regions, but it’s an important one considering the trouble that banks got themselves into just five years ago.

To dig in further on the bank and look at some of the other factors that might make Regions a buy today, I invite you to read our premium research report on the company. Click here now for instant access.

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Source: FULL ARTICLE at DailyFinance