Regions Financial Corp

RF

Equity

ISIN US7591EP1005 / Valor 1895565

New York Stock Exchange, Inc (2024-12-26)

USD 23.99-0.12%

Regions Financial Corp
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About company

Regions Financial Corporation, a prominent entity within the S&P 500 Index, stands as a significant player in the United States' financial sector, particularly known for its comprehensive range of consumer and commercial banking services, wealth management, and mortgage products. With a broad footprint across the South, Midwest, and Texas, Regions has established itself as a key provider catering to a diverse clientele. The company's evolution is marked by strategic growth and acquisitions, notably the merger with Union Planters in 2004 and AmSouth in 2006, which significantly expanded its scale and service capabilities. Originating from a merger of three banks in 1970 with a combined asset of $446 million, Regions has demonstrated substantial growth over the decades. By the end of 1998, the company boasted $32.8 billion in assets and 667 locations, showcasing its expansion and commitment to serving its customers' financial needs and aspirations. Through its mission, Regions aims to deliver superior economic value to its shareholders while enhancing the financial well-being of its customers, associates, and the communities it serves.

Summarized from source with an LLMView SourceSector: Finance

Net Income and Earnings

Regions Financial Corp reported net income available to common shareholders of $446 million for the third quarter of 2024. The earnings per diluted share stood at $0.49. This performance reflects the company's strategic execution and solid core performance despite challenging market conditions.

Total Revenue

For the third quarter of 2024, Regions Financial Corp achieved total revenue of approximately $1.8 billion on a reported basis, marking a 3% increase from the previous quarter. On an adjusted basis, total revenue was approximately $1.9 billion, representing a 5% increase compared to the second quarter of 2024.

Net Interest Income

Regions Financial Corp's net interest income for the third quarter of 2024 increased by 3% to slightly over $1.2 billion compared to the second quarter. This growth was driven by easing deposit cost pressures and improved asset yields from the maturity and replacement of lower-yielding, fixed-rate loans and securities.

Non-Interest Income

Non-interest income for Regions Financial Corp rose by 5% on a reported basis and 9% on an adjusted basis in the third quarter of 2024 compared to the previous quarter. This increase was supported by higher service charges, wealth management income, and capital markets income, among other factors.

Non-Interest Expense

In the third quarter of 2024, Regions Financial Corp's non-interest expense increased by 6% on a reported basis and 4% on an adjusted basis compared to the second quarter. The rise in expenses was primarily due to higher salaries and benefits, as well as expenses related to ongoing Visa litigation escrow.

Summarized from source with an LLMView Source

Key figures

22.6%1Y

11.5%3Y

39.0%5Y

Performance

27.1%1Y

33.3%3Y

43.3%5Y

Volatility