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Regions CEO Gets $1.4 Million Cash Bonus After TARP Repaid

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March 26 (Bloomberg) -- Regions Financial Corp., Alabama’s biggest bank, gave Chief Executive Officer Grayson Hall a $1.44 million cash bonus for last year as the lender repaid its government bailout.

Hall’s total compensation in 2012 was $11.9 million, which includes some pay from previous years, according to a filing today by the Birmingham-based lender. That’s an 86 percent increase over 2011, when he didn’t receive a bonus, according to the filing.

The Troubled Asset Relief Program prohibited awarding short- or long-term cash compensation based on performance. Regions last year raised $900 million through a share sale to repay $3.5 billion in taxpayer funds received in 2008. The bank posted a profit in 2012 after reporting net losses in the previous four years. Its shares gained 66 percent last year.

Chief Financial Officer David Turner received a cash bonus of $640,705, according to the filing.

To contact the reporter on this story: Laura Marcinek in New York at lmarcinek3@bloomberg.net.

To contact the editor responsible for this story: David Scheer at dscheer@bloomberg.net.

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