With loan losses still mounting, some regional banks aren't looking to return to profitability until 2011.
JPMorgan Chase, Goldman Sachs and other Wall Street megabanks may be showing signs of recovery lately, but things are hardly looking up for regional banks.
From the Rust Belt to the Deep South, big commercial lenders with more routine banking businesses have endured some of their worst losses since the financial crisis began more than a year ago.
Last week, Regions Financial (RF, Fortune 500) and Sun Trust (STI, Fortune 500), two of the biggest regional banks in the Southeast, each lost close to $400 million in the latest quarter.
Farther to the north, Milwaukee-based lender Marshall & Ilsley (MI) and Utah's Zions Bancorp (ZION) each suffered their fourth-consecutive quarterly loss. They both set aside mountains of cash for future loan losses as well.
Just a year ago, such tales were the exception rather than the norm as regional banks remained largely immune to the troubles on Wall Street.
http://money.cnn.com/2009/10/26/news...ion=2009102614
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