Comerica, Regions Financial take hits from commercial real estate

07/22/2009 | Wall Street Journal, The

Losses on commercial real estate and construction loans contributed heavily to a sharp drop in profits at Comerica and a loss for Regions Financial Corp. "Many investors have been concerned that Regions still has a long way to go in terms of loss recognition, and these numbers seemed to verify that," said Kevin J. St. Pierre, an analyst with Sanford C. Bernstein & Co.

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