EX-99.2 3 rf-20241231xexhibitx992.htm EX-99.2 Document


Exhibit 99.2

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Regions Financial Corporation and Subsidiaries
Financial Supplement (unaudited)
Fourth Quarter 2024





Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release

Table of Contents
 
   Page
Financial Highlights  
Selected Ratios and Other Information*  
Consolidated Balance Sheets  
  
Loans   
Deposits  
Consolidated Statements of Income  
Consolidated Average Daily Balances and Yield / Rate Analysis  
Pre-Tax Pre-Provision Income ("PPI")* and Adjusted PPI*  
Non-Interest Income, Mortgage Income, Wealth Management Income and Capital Markets Income  
Non-Interest Expense  
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures*  
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income / Expense, Adjusted Operating Leverage Ratios, Adjusted Total Revenue, Return Ratios, Tangible Common Ratios, and Common Equity Tier 1 (CET1) Ratios
Credit Quality  
Allowance for Credit Losses, Net Charge-Offs and Related Ratios, Adjusted Net Charge-Offs and Related Ratios  
Non-Accrual Loans (excludes loans held for sale), Early and Late Stage Delinquencies  
Forward-Looking Statements

*Use of non-GAAP financial measures
Regions believes that the presentation of non-GAAP financial measures provides a meaningful basis for period to period comparisons, which management believes will assist investors in assessing the performance of the Company on the same basis as that applied by management. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes certain adjustments does not represent the amount that effectively accrues directly to shareholders. Additionally, our non-GAAP financial measures may not be comparable to similar non-GAAP financial measures used by other companies.

Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)12/31/20249/30/20246/30/20243/31/202412/31/2023
Earnings Summary
Interest income - taxable equivalent$1,815 $1,832 $1,774 $1,737 $1,764 
Interest expense - taxable equivalent572 602 576 540 520 
Net interest income - taxable equivalent1,243 1,230 1,198 1,197 1,244 
Less: Taxable-equivalent adjustment13 12 12 13 13 
Net interest income 1,230 1,218 1,186 1,184 1,231 
Provision for credit losses120 113 102 152 155 
Net interest income after provision for credit losses1,110 1,105 1,084 1,032 1,076 
Non-interest income585 572 545 563 580 
Non-interest expense1,038 1,069 1,004 1,131 1,185 
Income before income taxes657 608 625 464 471 
Income tax expense123 118 124 96 80 
Net income$534 $490 $501 $368 $391 
Net income available to common shareholders$508 $446 $477 $343 $367 
Weighted-average shares outstanding—during quarter:
Basic911 914 917 921 931 
Diluted915 918 918 923 931 
Earnings per common share - basic$0.56 $0.49 $0.52 $0.37 $0.39 
Earnings per common share - diluted$0.56 $0.49 $0.52 $0.37 $0.39 
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$96,727 $96,789 $97,508 $96,862 $98,379 
Allowance for credit losses(1,729 )(1,728 )(1,732 )(1,731 )(1,700 )
Assets157,302 157,426 154,052 154,909 152,194 
Deposits127,603 126,376 126,616 128,982 127,788 
Long-term borrowings5,993 6,016 5,083 3,327 2,330 
Shareholders' equity17,879 18,676 17,169 17,044 17,429 
Average balances
Loans, net of unearned income$96,408 $97,040 $97,281 $97,420 $98,293 
Assets156,508 154,667 152,867 151,444 151,738 
Deposits126,493 125,950 126,901 127,126 126,414 
Long-term borrowings6,025 5,351 3,595 2,405 3,627 
Shareholders' equity18,042 18,047 16,713 17,121 16,274 



1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 12/31/20249/30/20246/30/20243/31/202412/31/2023
Return on average assets* (1)
1.36 %1.26 %1.32 %0.98 %1.02 %
Return on average common shareholders' equity*12.39 %10.88 %12.74 %8.92 %9.95 %
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
19.19 %16.87 %20.75 %14.31 %16.57 %
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP)* (2)
15.46 %13.69 %15.02 %10.81 %11.45 %
Efficiency ratio56.8 %59.3 %57.6 %64.3 %65.0 %
Adjusted efficiency ratio (non-GAAP) (2)
55.4 %56.9 %57.6 %60.6 %56.9 %
Dividend payout ratio (3)
44.7 %51.3 %46.1 %64.2 %60.5 %
Common book value per share$17.77 $18.62 $16.94 $16.76 $17.07 
Tangible common book value per share (non-GAAP) (2)
$11.42 $12.26 $10.61 $10.42 $10.77 
Total shareholders' equity to total assets11.37 %11.86 %11.14 %11.00 %11.45 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
6.86 %7.37 %6.55 %6.42 %6.79 %
Common equity Tier 1 (4)
$13,434$13,185 $13,093 $12,913 $12,976 
Total risk-weighted assets (4)
$124,493$124,645 $125,682 $125,167 $126,475 
Common equity Tier 1 ratio (4)
10.8 %10.6 %10.4 %10.3 %10.3 %
Adjusted common equity Tier 1 ratio (non-GAAP) (2)(4)
8.8 %9.1 %8.2 %8.2 %8.3 %
Tier 1 capital ratio (4)
12.2 %12.0 %11.7 %11.6 %11.6 %
Total risk-based capital ratio (4)
14.1 %13.9 %13.6 %13.6 %13.4 %
Leverage ratio (4)
9.9 %9.8 %9.8 %9.8 %9.7 %
Effective tax rate 18.9 %19.4 %19.8 %20.7 %17.0 %
Allowance for credit losses as a percentage of loans, net of unearned income1.79 %1.79 %1.78 %1.79 %1.73 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 186 %210 %204 %191 %211 %
Net interest margin (FTE)* 3.55 %3.54 %3.51 %3.55 %3.60 %
Loans, net of unearned income, to total deposits75.8 %76.6 %77.0 %75.1 %77.0 %
Net charge-offs as a percentage of average loans*0.49 %0.48 %0.42 %0.50 %0.54 %
Adjusted net charge-offs as a percentage of average loans (non-GAAP)* (2)
0.49 %0.48 %0.42 %0.50 %0.39 %
Non-performing loans, excluding loans held for sale, as a percentage of loans0.96 %0.85 %0.87 %0.94 %0.82 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale0.97 %0.87 %0.88 %0.95 %0.84 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (5)
1.15 %1.06 %1.06 %1.10 %1.01 %
Associate headcount—full-time equivalent 19,644 19,560 19,595 19,641 20,101 
ATMs 2,011 2,019 2,022 2,019 2,023 
Branch Statistics
Full service1,227 1,235 1,236 1,236 1,242 
Drive-through/transaction service only26 26 26 27 29 
Total branch outlets1,253 1,261 1,262 1,263 1,271 
Year Ended December 31
20242023
Return on average assets (1)
1.23 %1.36 %
Return on average common shareholders' equity11.24 %13.29 %
Return on average tangible common shareholders’ equity (non-GAAP) (2)
17.77 %21.93 %
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP) (2)
13.76 %15.91 %
Efficiency ratio 59.5 %57.9 %
Adjusted efficiency ratio (non-GAAP) (2)
57.6 %55.9 %
Dividend payout ratio (3)
50.5 %41.6 %
Effective tax rate 19.6 %20.5 %
Net interest margin (FTE) 3.54 %3.90 %
Net charge-offs as a percentage of average loans0.47 %0.40 %
Adjusted net charge-offs as a percentage of average loans (non-GAAP) (2)
0.47 %0.37 %
*Annualized
(1)Calculated by dividing net income by average assets.
(2)See reconciliation of GAAP to non-GAAP Financial Measures on pages 13, 17, 19 and 21.
(3)Dividend payout ratio reflects dividends declared within the applicable period.
(4)Current quarter Common equity Tier 1 as well as Total risk-weighted assets, Tier 1 capital, Total risk-based capital and Leverage ratios are estimated.
(5)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 23 for amounts related to these loans.

2
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Balance Sheets
As of
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023
Assets:
Cash and due from banks$2,893 $2,665 $2,955 $2,527 $2,635 
Interest-bearing deposits in other banks7,819 7,856 5,524 8,723 4,166 
Debt securities held to maturity4,427 2,787 733 743 754 
Debt securities available for sale26,224 28,698 28,537 27,881 28,104 
Loans held for sale594 522 552 417 400 
Loans, net of unearned income 96,727 96,789 97,508 96,862 98,379 
Allowance for loan losses
(1,613)(1,607)(1,621)(1,617)(1,576)
Net loans95,114 95,182 95,887 95,245 96,803 
Other earning assets1,616 1,625 1,844 1,478 1,417 
Premises and equipment, net1,673 1,648 1,630 1,635 1,642 
Interest receivable572 596 608 588 614 
Goodwill5,733 5,733 5,733 5,733 5,733 
Residential mortgage servicing rights at fair value (MSRs)1,007 971 1,020 1,026 906 
Other identifiable intangible assets, net169 178 187 196 205 
Other assets9,461 8,965 8,842 8,717 8,815 
Total assets$157,302 $157,426 $154,052 $154,909 $152,194 
Liabilities and Equity:
Deposits:
Non-interest-bearing$39,138 $39,698 $40,927 $41,824 $42,368 
Interest-bearing88,465 86,678 85,689 87,158 85,420 
Total deposits127,603 126,376 126,616 128,982 127,788 
Borrowed funds:
Short-term borrowings500 1,500 513 1,000 — 
Long-term borrowings5,993 6,016 5,083 3,327 2,330 
Other liabilities5,296 4,807 4,638 4,522 4,583 
Total liabilities139,392 138,699 136,850 137,831 134,701 
Equity:
Preferred stock, non-cumulative perpetual1,715 1,715 1,659 1,659 1,659 
Common stock9 10 10 10 10 
Additional paid-in capital11,394 11,438 11,575 11,666 11,757 
Retained earnings9,060 8,778 8,561 8,304 8,186 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income (loss), net(2,928)(1,894)(3,265)(3,224)(2,812)
Total shareholders’ equity17,879 18,676 17,169 17,044 17,429 
Noncontrolling interest
31 51 33 34 64 
Total equity
17,910 18,727 17,202 17,078 17,493 
Total liabilities and equity$157,302 $157,426 $154,052 $154,909 $152,194 







3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
End of Period Loans
As of
    12/31/202412/31/2024
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023 vs. 9/30/2024 vs. 12/31/2023
Commercial and industrial$49,671 $49,565 $50,222 $49,701 $50,865 $106 0.2 %$(1,194)(2.3)%
Commercial real estate mortgage—owner-occupied4,841 4,873 4,781 4,788 4,887 (32)(0.7)%(46)(0.9)%
Commercial real estate construction—owner-occupied333 341 370 306 281 (8)(2.3)%52 18.5 %
Total commercial54,845 54,779 55,373 54,795 56,033 66 0.1 %(1,188)(2.1)%
Commercial investor real estate mortgage 6,567 6,562 6,536 6,422 6,605 5 0.1 %(38)(0.6)%
Commercial investor real estate construction2,143 2,250 2,301 2,341 2,245 (107)(4.8)%(102)(4.5)%
Total investor real estate8,710 8,812 8,837 8,763 8,850 (102)(1.2)%(140)(1.6)%
Total business63,555 63,591 64,210 63,558 64,883 (36)(0.1)%(1,328)(2.0)%
Residential first mortgage20,094 20,125 20,206 20,199 20,207 (31)(0.2)%(113)(0.6)%
Home equity—lines of credit (1)
3,150 3,130 3,142 3,155 3,221 20 0.6 %(71)(2.2)%
Home equity—closed-end (2)
2,390 2,404 2,410 2,415 2,439 (14)(0.6)%(49)(2.0)%
Consumer credit card1,445 1,372 1,349 1,314 1,341 73 5.3 %104 7.8 %
Other consumer—exit portfolios (3)
4 9 17 28 43 (5)(55.6)%(39)(90.7)%
Other consumer6,089 6,158 6,174 6,193 6,245 (69)(1.1)%(156)(2.5)%
Total consumer33,172 33,198 33,298 33,304 33,496 (26)(0.1)%(324)(1.0)%
Total Loans$96,727 $96,789 $97,508 $96,862 $98,379 $(62)(0.1)%$(1,652)(1.7)%
______
(1)     The balance of Regions' home equity lines of credit consists of $1,448 million of first lien and $1,702 million of second lien at 12/31/2024.
(2)    The balance of Regions' closed-end home equity loans consists of $1,895 million of first lien and $495 million of second lien at 12/31/2024.
(3)    Subsequent to the GreenSky loan sale in the fourth quarter of 2023, the exit portfolio consists primarily of indirect auto loans.

As of
End of Period Loans by Percentage(1)
12/31/20249/30/20246/30/20243/31/202412/31/2023
Commercial and industrial51.4 %51.2 %51.5 %51.3 %51.7 %
Commercial real estate mortgage—owner-occupied5.0 %5.0 %4.9 %4.9 %5.0 %
Commercial real estate construction—owner-occupied0.3 %0.4 %0.4 %0.3 %0.3 %
Total commercial56.7 %56.6 %56.8 %56.6 %57.0 %
Commercial investor real estate mortgage6.8 %6.8 %6.7 %6.6 %6.7 %
Commercial investor real estate construction2.2 %2.3 %2.4 %2.4 %2.3 %
Total investor real estate9.0 %9.1 %9.1 %9.0 %9.0 %
Total business65.7 %65.7 %65.9 %65.6 %66.0 %
Residential first mortgage20.8 %20.8 %20.7 %20.9 %20.5 %
Home equity—lines of credit 3.3 %3.2 %3.2 %3.3 %3.3 %
Home equity—closed-end 2.5 %2.5 %2.5 %2.5 %2.5 %
Consumer credit card1.5 %1.4 %1.4 %1.4 %1.4 %
Other consumer6.3 %6.4 %6.3 %6.4 %6.3 %
Total consumer34.3 %34.3 %34.1 %34.4 %34.0 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %
(1)Amounts have been calculated using whole dollar values, and therefore may not add to total amounts.

4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Average Balances of Loans
 Average Balances
($ amounts in millions)4Q243Q242Q241Q244Q234Q24 vs. 3Q244Q24 vs. 4Q23
Commercial and industrial$49,357 $49,847 $50,046 $50,090 $50,939 $(490)(1.0)%$(1,582)(3.1)%
Commercial real estate mortgage—owner-occupied4,869 4,877 4,765 4,833 4,864 (8)(0.2)%5 0.1 %
Commercial real estate construction—owner-occupied343 335 350 298 272 8 2.4 %71 26.1 %
Total commercial54,569 55,059 55,161 55,221 56,075 (490)(0.9)%(1,506)(2.7)%
Commercial investor real estate mortgage6,491 6,495 6,610 6,558 6,574 (4)(0.1)%(83)(1.3)%
Commercial investor real estate construction2,165 2,264 2,229 2,275 2,198 (99)(4.4)%(33)(1.5)%
Total investor real estate8,656 8,759 8,839 8,833 8,772 (103)(1.2)%(116)(1.3)%
Total business 63,225 63,818 64,000 64,054 64,847 (593)(0.9)%(1,622)(2.5)%
Residential first mortgage20,107 20,147 20,191 20,188 20,132 (40)(0.2)%(25)(0.1)%
Home equity—lines of credit3,135 3,128 3,145 3,182 3,231 7 0.2 %(96)(3.0)%
Home equity—closed-end2,392 2,402 2,412 2,423 2,432 (10)(0.4)%(40)(1.6)%
Consumer credit card1,398 1,359 1,331 1,315 1,295 39 2.9 %103 8.0 %
Other consumer—exit portfolios (1)
6 13 22 35 110 (7)(53.8)%(104)(94.5)%
Other consumer6,145 6,173 6,180 6,223 6,246 (28)(0.5)%(101)(1.6)%
Total consumer33,183 33,222 33,281 33,366 33,446 (39)(0.1)%(263)(0.8)%
Total Loans$96,408 $97,040 $97,281 $97,420 $98,293 $(632)(0.7)%$(1,885)(1.9)%
Average Balances
Twelve Months Ended December 31
($ amounts in millions)202420232024 vs. 2023
Commercial and industrial$49,834 $51,465 $(1,631)(3.2)%
Commercial real estate mortgage—owner-occupied4,836 4,900 (64)(1.3)%
Commercial real estate construction—owner-occupied332 283 49 17.3 %
Total commercial55,002 56,648 (1,646)(2.9)%
Commercial investor real estate mortgage6,538 6,453 85 1.3 %
Commercial investor real estate construction2,233 2,117 116 5.5 %
Total investor real estate8,771 8,570 201 2.3 %
Total business 63,773 65,218 (1,445)(2.2)%
Residential first mortgage20,158 19,612 546 2.8 %
Home equity—lines of credit3,147 3,328 (181)(5.4)%
Home equity—closed-end2,407 2,435 (28)(1.1)%
Consumer credit card1,351 1,243 108 8.7 %
Other consumer—exit portfolios (1)
19 367 (348)(94.8)%
Other consumer6,181 6,036 145 2.4 %
Total consumer33,263 33,021 242 0.7 %
Total Loans$97,036 $98,239 $(1,203)(1.2)%
_____
(1)Subsequent to the GreenSky loan sale in the fourth quarter of 2023, the exit portfolio consists primarily of indirect auto loans.


.

5
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
End of Period Deposits
 As of
     12/31/202412/31/2024
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023 vs. 9/30/2024 vs. 12/31/2023
Interest-free deposits$39,138 $39,698 $40,927 $41,824 $42,368 $(560)(1.4)%$(3,230)(7.6)%
Interest-bearing checking25,079 23,704 23,631 24,668 24,480 1,3755.8%5992.4%
Savings12,022 12,085 12,386 12,786 12,604 (63)(0.5)%(582)(4.6)%
Money market—domestic35,644 35,205 34,438 34,251 33,364 4391.2%2,2806.8%
Time deposits15,720 15,684 15,234 15,453 14,972 360.2%7485.0%
Total Deposits$127,603 $126,376 $126,616 $128,982 $127,788 $1,2271.0%$(185)(0.1)%
 As of
   12/31/202412/31/2024
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023 vs. 9/30/2024 vs. 12/31/2023
Consumer Bank Segment$78,637 $78,858 $80,126 $81,129 $80,031 $(221)(0.3)%$(1,394)(1.7)%
Corporate Bank Segment38,361 36,955 36,529 37,043 36,883 1,4063.8%1,4784.0%
Wealth Management Segment7,736 7,520 7,383 7,792 7,694 2162.9%420.5%
Other (1)
2,869 3,043 2,578 3,018 3,180 (174)(5.7)%(311)(9.8)%
Total Deposits$127,603 $126,376 $126,616 $128,982 $127,788 $1,2271.0%$(185)(0.1)%
 As of
    12/31/202412/31/2024
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023 vs. 9/30/2024 vs. 12/31/2023
Wealth Management - Private Wealth$6,998 $6,676 $6,430 $6,664 $6,719 $3224.8%$2794.2%
Wealth Management - Institutional Services738 844 953 1,128 975 (106)(12.6)%(237)(24.3)%
Total Wealth Management Segment Deposits$7,736 $7,520 $7,383 $7,792 $7,694 $2162.9%$420.5%

As of
End of Period Deposits by Percentage12/31/20249/30/20246/30/20243/31/202412/31/2023
Interest-free deposits30.7 %31.4 %32.3 %32.4 %33.2 %
Interest-bearing checking19.7 %18.8 %18.7 %19.1 %19.2 %
Savings9.4 %9.6 %9.8 %9.9 %9.9 %
Money market—domestic27.9 %27.9 %27.2 %26.6 %26.1 %
Time deposits12.3 %12.3 %12.0 %12.0 %11.6 %
Total Deposits100.0 %100.0 %100.0 %100.0 %100.0 %
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and additional wholesale funding arrangements. Other deposits includes brokered deposits totaling $2.2 billion at 12/31/2024, $2.3 billion at 9/30/2024, $1.8 billion at 6/30/2024, $2.3 billion at 3/31/2024 and $2.4 billion at 12/31/2023.










6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)4Q243Q242Q241Q244Q234Q24 vs. 3Q244Q24 vs. 4Q23
Interest-free deposits$39,424 $39,690 $40,516 $40,926 $43,167 $(266)(0.7)%$(3,743)(8.7)%
Interest-bearing checking24,060 23,599 24,026 24,682 23,128 461 2.0 %932 4.0 %
Savings12,020 12,183 12,536 12,594 12,858 (163)(1.3)%(838)(6.5)%
Money market—domestic 35,264 35,051 34,368 33,646 33,216 213 0.6 %2,048 6.2 %
Time deposits15,725 15,427 15,455 15,278 14,045 298 1.9 %1,680 12.0 %
Total Deposits$126,493 $125,950 $126,901 $127,126 $126,414 $543 0.4 %79 0.1 %
 Average Balances
($ amounts in millions)4Q243Q242Q241Q244Q234Q24 vs. 3Q244Q24 vs. 4Q23
Consumer Bank Segment$78,476 $78,904 $79,809 $79,150 $79,384 $(428)(0.5)%$(908)(1.1)%
Corporate Bank Segment37,426 36,867 36,669 37,064 36,291 559 1.5 %1,135 3.1 %
Wealth Management Segment7,492 7,374 7,534 7,766 7,690 118 1.6 %(198)(2.6)%
Other (1)
3,099 2,805 2,889 3,146 3,049 294 10.5 %50 1.6 %
Total Deposits$126,493 $125,950 $126,901 $127,126 $126,414 $543 0.4 %$79 0.1 %
 Average Balances
($ amounts in millions)4Q243Q242Q241Q244Q234Q24 vs. 3Q244Q24 vs. 4Q23
Wealth Management - Private Wealth$6,700 $6,557 $6,577 $6,720 $6,677 $143 2.2 %$23 0.3 %
Wealth Management - Institutional Services792 817 957 1,046 1,013 (25)(3.1)%(221)(21.8)%
Total Wealth Management Segment Deposits$7,492 $7,374 $7,534 $7,766 $7,690 $118 1.6 %$(198)(2.6)%

Average Balances
Twelve Months Ended December 31
($ amounts in millions)202420232024 vs. 2023
Interest-free deposits$40,136 $46,150 $(6,014)(13.0)%
Interest-bearing checking24,090 23,319 771 3.3 %
Savings12,332 14,165 (1,833)(12.9)%
Money market—domestic34,586 32,364 2,222 6.9 %
Time deposits15,471 10,545 4,926 46.7 %
Total Deposits$126,615 $126,543 $72 0.1 %
Average Balances
Twelve Months Ended December 31
($ amounts in millions)202420232024 vs. 2023
Consumer Bank Segment$79,083 $80,659 $(1,576)(2.0)%
Corporate Bank Segment37,007 35,585 1,422 4.0 %
Wealth Management Segment7,541 7,766 (225)(2.9)%
Other (1)
2,984 2,533 451 17.8 %
Total Deposits$126,615 $126,543 $72 0.1 %
Average Balances
Twelve Months Ended December 31
($ amounts in millions)202420232024 vs. 2023
Wealth Management - Private Wealth$6,638 $7,001 $(363)(5.2)%
Wealth Management - Institutional Services903 765 138 18.0 %
Total Wealth Management Segment Deposits$7,541 $7,766 $(225)(2.9)%
________
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and wholesale funding arrangements.


7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Statements of Income
Quarter Ended
($ amounts in millions, except per share data)12/31/20249/30/20246/30/20243/31/202412/31/2023
Interest income on:
Loans, including fees $1,416 $1,463 $1,432 $1,421 $1,457 
Debt securities256 241 219 209 192 
Loans held for sale11 11 9 8 9 
Other earning assets 119 105 102 86 93 
Total interest income1,802 1,820 1,762 1,724 1,751 
Interest expense on:
Deposits467 507 502 495 449 
Short-term borrowings16 10 13 1 10 
Long-term borrowings89 85 61 44 61 
Total interest expense572 602 576 540 520 
Net interest income 1,230 1,218 1,186 1,184 1,231 
Provision for credit losses120 113 102 152 155 
Net interest income after provision for credit losses1,110 1,105 1,084 1,032 1,076 
Non-interest income:
Service charges on deposit accounts155 158 151 148 143 
Card and ATM fees113 118 120 116 127 
Wealth management income126 128 122 119 117 
Capital markets income97 92 68 91 48 
Mortgage income35 36 34 41 31 
Securities gains (losses), net(30)(78)(50)(50)(2)
Other89 118 100 98 116 
Total non-interest income585 572 545 563 580 
Non-interest expense:
Salaries and employee benefits617 645 609 658 608 
Equipment and software expense104 101 100 101 102 
Net occupancy expense67 69 68 74 71 
Other250 254 227 298 404 
Total non-interest expense1,038 1,069 1,004 1,131 1,185 
Income before income taxes657 608 625 464 471 
Income tax expense 123 118 124 96 80 
Net income $534 $490 $501 $368 $391 
Net income available to common shareholders$508 $446 $477 $343 $367 
Weighted-average shares outstanding—during quarter:
Basic911 914 917 921 931 
Diluted915 918 918 923 931 
Actual shares outstanding—end of quarter909 911 915 918 924 
Earnings per common share: (1)
Basic$0.56 $0.49 $0.52 $0.37 $0.39 
Diluted$0.56 $0.49 $0.52 $0.37 $0.39 
Taxable-equivalent net interest income$1,243 $1,230 $1,198 $1,197 $1,244 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.




8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Statements of Income (continued) (unaudited)
Twelve Months Ended December 31
($ amounts in millions, except per share data)20242023
Interest income on:
Loans, including fees$5,732 $5,733 
Debt securities925 749 
Loans held for sale39 40 
Other earning assets 412 375 
Total interest income7,108 6,897 
Interest expense on:
Deposits1,971 1,255 
Short-term borrowings40 96 
Long-term borrowings279 226 
Total interest expense2,290 1,577 
Net interest income4,818 5,320 
Provision for credit losses487 553 
Net interest income after provision for credit losses4,331 4,767 
Non-interest income:
Service charges on deposit accounts612 592 
Card and ATM fees467 504 
Wealth management income 495 451 
Capital markets income348 222 
Mortgage income146 109 
Securities gains (losses), net(208)(5)
Other405 383 
Total non-interest income2,265 2,256 
Non-interest expense:
Salaries and employee benefits2,529 2,416 
Equipment and software expense406 412 
Net occupancy expense278 289 
Other1,029 1,299 
Total non-interest expense4,242 4,416 
Income before income taxes2,354 2,607 
Income tax expense 461 533 
Net income $1,893 $2,074 
Net income available to common shareholders$1,774 $1,976 
Weighted-average shares outstanding—during year:
Basic916 936 
Diluted918 938 
Actual shares outstanding—end of period909 924 
Earnings per common share:
Basic$1.94 $2.11 
Diluted$1.93 $2.11 
Taxable-equivalent net interest income$4,868 $5,371 

9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 12/31/20249/30/2024
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$1 $— 4.82 %$1 $— 5.44 %
Debt securities (2)(3)
32,553 256 3.16 32,252 241 2.98 
Loans held for sale766 11 5.63 642 11 6.56 
Loans, net of unearned income:
Commercial and industrial (4)
49,357 746 5.99 49,847 773 6.14 
Commercial real estate mortgage—owner-occupied (5)
4,869 61 4.90 4,877 60 4.80 
Commercial real estate construction—owner-occupied343 5 6.03 335 6 6.29 
Commercial investor real estate mortgage6,491 105 6.35 6,495 119 7.16 
Commercial investor real estate construction2,165 41 7.40 2,264 46 7.94 
Residential first mortgage20,107 199 3.95 20,147 196 3.90 
Home equity5,527 94 6.78 5,530 96 6.96 
Consumer credit card1,398 50 14.37 1,359 51 14.82 
Other consumer—exit portfolios6 — 3.09 13 — 1.88 
Other consumer6,145 128 8.19 6,173 128 8.28 
Total loans, net of unearned income96,408 1,429 5.87 97,040 1,475 6.02 
Interest-bearing deposits in other banks7,978 98 4.84 6,682 92 5.52 
Other earning assets1,510 21 5.54 1,456 13 3.58 
Total earning assets 139,216 1,815 5.17 138,073 1,832 5.26 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(1,945)(2,213)
Allowance for loan losses(1,621)(1,629)
Cash and due from banks2,826 2,822 
Other non-earning assets18,032 17,614 
$156,508 $154,667 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $12,020 3 0.11 $12,183 4 0.13 
Interest-bearing checking24,060 92 1.52 23,599 98 1.64 
Money market 35,264 217 2.45 35,051 247 2.80 
Time deposits15,725 155 3.92 15,427 158 4.09 
Total interest-bearing deposits (6)
87,069 467 2.13 86,260 507 2.34 
Federal funds purchased and securities sold under agreements to repurchase24 — 4.60 22 — 4.40 
Short-term borrowings1,207 16 4.93 641 10 5.42 
Long-term borrowings6,025 89 5.80 5,351 85 6.28 
Total interest-bearing liabilities94,325 572 2.41 92,274 602 2.59 
Non-interest-bearing deposits (6)
39,424 — — 39,690 — — 
Total funding sources133,749 572 1.70 131,964 602 1.81 
Net interest spread (2)
2.76 2.67 
Other liabilities4,672 4,623 
Shareholders’ equity18,042 18,047 
Noncontrolling interest45 33 
$156,508 $154,667 
Net interest income/margin FTE basis (2)
$1,243 3.55 %$1,230 3.54 %
_______
(1) Amounts have been calculated using whole dollar values and the prevailing interest accrual methodology.
(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(3) Interest income includes hedging income of zero for the quarter ended December 31, 2024 and $3 million for the quarter ended September 30, 2024.
(4) Interest income includes hedging expense of $69 million for the quarter ended December 31, 2024 and $98 million for the quarter ended September 30, 2024.
(5) Interest income includes hedging expense of $8 million for the quarter ended December 31, 2024 and $12 million for the quarter ended September 30, 2024.
(6) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 1.47% for the quarter ended December 31, 2024 and 1.60% for the quarter ended September 30, 2024.


10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 6/30/20243/31/202412/31/2023
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$1 $— 5.44 %$1 $— 5.44 %$1 $— 5.44 %
Debt securities (2)(3)
31,649 219 2.77 31,494 209 2.66 31,144 192 2.47 
Loans held for sale531 9 6.85 499 8 6.40 459 9 8.15 
Loans, net of unearned income:
Commercial and industrial (4)
50,046 756 6.04 50,090 750 5.99 50,939 784 6.08 
Commercial real estate mortgage—owner-occupied (5)
4,765 56 4.59 4,833 56 4.58 4,864 58 4.68 
Commercial real estate construction—owner-occupied350 6 6.52 298 4 5.79 272 4 5.77 
Commercial investor real estate mortgage6,610 119 7.11 6,558 117 7.05 6,574 119 7.09 
Commercial investor real estate construction2,229 45 7.96 2,275 46 7.97 2,198 45 7.97 
Residential first mortgage20,191 191 3.79 20,188 191 3.79 20,132 187 3.72 
Home equity5,557 95 6.87 5,605 95 6.77 5,663 96 6.82 
Consumer credit card1,331 48 14.62 1,315 50 15.21 1,295 50 15.29 
Other consumer—exit portfolios22 — 1.58 35 — 1.67 110 1 1.09 
Other consumer6,180 128 8.33 6,223 125 8.08 6,246 126 7.95 
Total loans, net of unearned income 97,281 1,444 5.93 97,420 1,434 5.88 98,293 1,470 5.92 
Interest-bearing deposits in other banks6,158 86 5.65 4,754 68 5.69 5,753 80 5.56 
Other earning assets1,447 16 4.43 1,339 18 5.49 1,336 13 3.66 
Total earning assets
137,067 1,774 5.17 135,507 1,737 5.12 136,986 1,764 5.10 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(3,267)(3,042)(3,788)
Allowance for loan losses(1,619)(1,596)(1,540)
Cash and due from banks2,678 2,581 2,242 
Other non-earning assets18,008 17,994 17,838 
$152,867 $151,444 $151,738 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $12,536 4 0.13 $12,594 4 0.13 $12,858 3 0.11 
Interest-bearing checking24,026 99 1.68 24,682 106 1.72 23,128 91 1.56 
Money market 34,368 239 2.79 33,646 227 2.72 33,216 215 2.57 
Time deposits15,455 160 4.16 15,278 158 4.16 14,045 140 3.95 
Total interest-bearing deposits (6)
86,385 502 2.34 86,200 495 2.31 83,247 449 2.14 
Federal funds purchased and securities sold under agreements to repurchase8 — 5.45 8 — 5.40 27 1 5.51 
Short-term borrowings962 13 5.49 77 1 5.56 652 9 5.58 
Long-term borrowings3,595 61 6.73 2,405 44 7.26 3,627 61 6.57 
Total interest-bearing liabilities 90,950 576 2.55 88,690 540 2.45 87,553 520 2.36 
Non-interest-bearing deposits (6)
40,516 — — 40,926 — — 43,167 — — 
Total funding sources131,466 576 1.76 129,616 540 1.67 130,720 520 1.58 
Net interest spread (2)
2.62 2.68 2.75 
Other liabilities4,655 4,663 4,717 
Shareholders’ equity16,713 17,121 16,274 
Noncontrolling interest33 44 27 
$152,867 $151,444 $151,738 
Net interest income/margin FTE basis (2)
$1,198 3.51 %$1,197 3.55 %$1,244 3.60 %
_______
(1) Amounts have been calculated using whole dollar values and the prevailing interest accrual methodology.
(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(3)    Interest income includes hedge income of $2 million for the quarter ended June 30, 2024, hedge income of $2 million for the quarter ended March 31, 2024 and hedge expense of $1 million for the quarter ended December 31, 2023.
(4) Interest income includes hedging expense of $103 million for the quarter ended June 30, 2024, $104 million for the quarter ended March 31, 2024 and $95 million for the quarter ended December 31, 2023.
(5) Interest income includes hedging expense of $13 million for the quarter ended June 30, 2024, $13 million for the quarter ended March 31, 2024 and $12 million for the quarter ended December 31, 2023.
(6) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 1.59% for the quarter ended June 30, 2024, 1.56% for the quarter ended March 31, 2024 and 1.41% for the quarter ended December 31, 2023.



11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Twelve Months Ended December 31
 20242023
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$1 $— 5.25 %$— $— — %
Debt securities (2)(3)
31,989 925 2.89 31,467 749 2.38 
Loans held for sale610 39 6.30 575 40 6.89 
Loans, net of unearned income:
Commercial and industrial (4)
49,834 3,025 6.04 51,465 3,171 6.14 
Commercial real estate mortgage—owner-occupied (5)
4,836 233 4.72 4,900 241 4.85 
Commercial real estate construction—owner-occupied332 21 6.17 283 16 5.62 
Commercial investor real estate mortgage6,538 460 6.92 6,453 442 6.76 
Commercial investor real estate construction2,233 178 7.82 2,117 164 7.63 
Residential first mortgage20,158 777 3.86 19,612 696 3.55 
Home equity5,554 380 6.85 5,763 368 6.39 
Consumer credit card1,351 199 14.75 1,243 189 15.23 
Other consumer—exit portfolios19 — 1.80 367 22 5.89 
Other consumer6,181 509 8.22 6,036 475 7.84 
Total loans, net of unearned income97,036 5,782 5.93 98,239 5,784 5.86 
Interest-bearing deposits in other banks6,398 344 5.37 6,185 321 5.19 
Other earning assets 1,438 68 4.75 1,389 54 3.87 
Total earning assets137,472 7,158 5.18 137,855 6,948 5.02 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(2,614)(3,392)
Allowance for loan losses(1,616)(1,498)
Cash and due from banks2,727 2,271 
Other non-earning assets17,912 17,781 
$153,881 $153,017 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $12,332 15 0.12 $14,165 16 0.12 
Interest-bearing checking24,090 395 1.64 23,319 282 1.21 
Money market 34,586 930 2.69 32,364 615 1.90 
Time deposits15,471 631 4.08 10,545 342 3.24 
Total interest-bearing deposits (6)
86,479 1,971 2.28 80,393 1,255 1.56 
Federal funds purchased and securities sold under agreements to repurchase15 — 4.74 13 1 5.41 
Short-term borrowings723 40 5.24 1,776 95 5.26 
Long-term borrowings4,352 279 6.34 3,437 226 6.51 
Total interest-bearing liabilities91,569 2,290 2.50 85,619 1,577 1.84 
Non-interest-bearing deposits (6)
40,136 — — 46,150 — — 
Total funding sources131,705 2,290 1.73 131,769 1,577 1.19 
Net interest spread (2)
2.68 3.18 
Other liabilities4,653 4,708 
Shareholders’ equity17,484 16,522 
Noncontrolling interest39 18 
$153,881 $153,017 
Net interest income/margin FTE basis (2)
$4,868 3.54 %$5,371 3.90 %
_______
(1) Amounts have been calculated using whole dollar values and the prevailing interest accrual methodology.
(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(3)    Interest income includes hedging income of $7 million for the year ended December 31, 2024 and hedging expense of $1 million for the year ended December 31, 2023.
(4) Interest income includes hedging expense of $374 million and $210 million for the years ended December 31, 2024 and 2023, respectively.
(5) Interest income includes hedging expense of $46 million and $26 million for the years ended December 31, 2024 and 2023, respectively.
(6) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total
deposit costs equal 1.56% and 0.99% for the years ended December 31, 2024 and 2023, respectively.
12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI (non-GAAP)
The Pre-Tax Pre-Provision Income tables below present computations of pre-tax pre-provision income excluding certain adjustments (non-GAAP). Regions believes that the presentation of PPI and the exclusion of certain items from PPI provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations.
 Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Net income available to common shareholders (GAAP)$508 $446 $477 $343 $367 $62 13.9 %$141 38.4 %
Preferred dividends and other (GAAP) (1)
26 44 24 25 24 (18)(40.9)%2 8.3 %
Income tax expense (GAAP)123 118 124 96 80 5 4.2 %43 53.8 %
Income before income taxes (GAAP)657 608 625 464 471 49 8.1 %186 39.5 %
Provision for credit losses (GAAP)120 113 102 152 155 7 6.2 %(35)(22.6)%
Pre-tax pre-provision income (non-GAAP)777 721 727 616 626 56 7.8 %151 24.1 %
Other adjustments:
Securities (gains) losses, net30 78 50 50 2 (48)(61.5)%28 NM
Leveraged lease termination gains, net— — — — (1)— NM1 100.0 %
FDIC insurance special assessment (2)
(2)(4)4 18 119 2 50.0 %(121)(101.7)%
Salaries and employee benefits—severance charges10 3 4 13 28 7 233.3 %(18)(64.3)%
Branch consolidation, property and equipment charges1 — 1 1 3 1 NM(2)(66.7)%
Early extinguishment of debt— — — — (4)— NM4 100.0 %
Other miscellaneous expenses (3)
— — (37)— — — NM— NM
Professional, legal and regulatory expenses— 1 — 2 1 (1)(100.0)%(1)(100.0)%
Total other adjustments39 78 22 84 148 (39)(50.0)%(109)(73.6)%
Adjusted pre-tax pre-provision income (non-GAAP)$816 $799 $749 $700 $774 $17 2.1 %$42 5.4 %
Year Ended
($ amounts in millions)202420232024 vs. 2023
Net income available to common shareholders (GAAP)$1,774 $1,976 $(202)(10.2)%
Preferred dividends and other (GAAP) (1)
119 98 21 21.4 %
Income tax expense (GAAP)461 533 (72)(13.5)%
Income before income taxes (GAAP)2,354 2,607 (253)(9.7)%
Provision for credit losses (GAAP)487 553 (66)(11.9)%
Pre-tax pre-provision income (non-GAAP)2,841 3,160 (319)(10.1)%
Other adjustments:
Securities (gains) losses, net208 5 203 NM
Leveraged lease termination gains, net— (2)2 100.0 %
FDIC insurance special assessment16 119 (103)(86.6)%
Salaries and employee benefits—severance charges30 31 (1)(3.2)%
Branch consolidation, property and equipment charges3 7 (4)(57.1)%
Early extinguishment of debt— (4)4 100.0 %
Professional, legal and regulatory expenses3 1 2 200.0 
Other miscellaneous expenses (3)
(37)— (37)NM
Total other adjustments223 157 66 42.0 %
Adjusted pre-tax pre-provision income (non-GAAP)$3,064 $3,317 $(253)(7.6)%
______
NM - Not meaningful
(1) The third quarter 2024 amount includes $15 million of deferred issuance costs recognized upon the redemption of Series B preferred stock.
(2) The fourth quarter 2024 and third quarter 2024 amounts reflect a reduction to the Company's FDIC special assessment accrual.
(3) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.





13
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Service charges on deposit accounts$155 $158 $151 $148 $143 $(3)(1.9)%$12 8.4 %
Card and ATM fees113 118 120 116 127 (5)(4.2)%(14)(11.0)%
Wealth management income126 128 122 119 117 (2)(1.6)%9 7.7 %
Capital markets income (1)
97 92 68 91 48 5 5.4 %49 102.1 %
Mortgage income35 36 34 41 31 (1)(2.8)%4 12.9 %
Commercial credit fee income 28 28 28 27 27 — — %1 3.7 %
Bank-owned life insurance21 28 30 23 22 (7)(25.0)%(1)(4.5)%
Market value adjustments on employee benefit assets (2)
(5)13 2 15 12 (18)(138.5)%(17)(141.7)%
Securities gains (losses), net(30)(78)(50)(50)(2)48 61.5 %(28)NM
Other miscellaneous income45 49 40 33 55 (4)(8.2)%(10)(18.2)%
Total non-interest income$585 $572 $545 $563 $580 $13 2.3 %$5 0.9 %
Mortgage Income
Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Production and sales$14 $16 $16 $24 $9 $(2)(12.5)%$5 55.6 %
Loan servicing48 53 46 44 46 (5)(9.4)%2 4.3 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions56 (28)13 19 (24)84 300.0 %80 333.3 %
MSRs hedge gain (loss)(53)28 (10)(17)29 (81)(289.3)%(82)(282.8)%
MSRs change due to payment decay(30)(33)(31)(29)(29)3 9.1 %(1)(3.4)%
MSR and related hedge impact(27)(33)(28)(27)(24)6 18.2 %(3)(12.5)%
Total mortgage income$35 $36 $34 $41 $31 $(1)(2.8)%$4 12.9 %
Mortgage production - portfolio$413 $468 $528 $354 $475 $(55)(11.8)%$(62)(13.1)%
Mortgage production - agency/secondary market462 548 514 399 349 (86)(15.7)%113 32.4 %
Total mortgage production$875 $1,016 $1,042 $753 $824 $(141)(13.9)%$51 6.2 %
Mortgage production - purchased82.3 %85.5 %90.7 %90.0 %90.8 %
Mortgage production - refinanced17.7 %14.5 %9.3 %10.0 %9.2 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Investment management and trust fee income$89 $85 $83 $81 $81 $4 4.7 %$8 9.9 %
Investment services fee income37 43 39 38 36 (6)(14.0)%1 2.8 %
Total wealth management income (3)
$126 $128 $122 $119 $117 $(2)(1.6)%$9 7.7 %
Capital Markets Income
Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Capital markets income$97 $92 $68 $91 $48 $5 5.4 %$49 102.1 %
Less: Valuation adjustments on customer derivatives (4)
(1)(1)(2)(2)(5)— — %4 80.0 %
Capital markets income excluding valuation adjustments $98 $93 $70 $93 $53 $5 5.4 %$45 84.9 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.
14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Non-Interest Income
($ amounts in millions)Twelve Months EndedYear-to-Date Change 12/31/2024 vs. 12/31/2023
12/31/202412/31/2023AmountPercent
Service charges on deposit accounts$612 $592 $20 3.4 %
Card and ATM fees467 504 (37)(7.3)%
Wealth management income495 451 44 9.8 %
Capital markets income (1)
348 222 126 56.8 %
Mortgage income146 109 37 33.9 %
Commercial credit fee income 111 105 6 5.7 %
Bank-owned life insurance102 78 24 30.8 %
Market value adjustments on employee benefit assets (2)
25 15 10 66.7 %
Securities gains (losses), net(208)(5)(203)NM
Other miscellaneous income167 185 (18)(9.7)%
Total non-interest income$2,265 $2,256 $9 0.4 %
Mortgage Income
Twelve Months EndedYear-to-Date Change 12/31/2024 vs. 12/31/2023
($ amounts in millions)12/31/202412/31/2023AmountPercent
Production and sales$70 $50 $20 40.0 %
Loan servicing191 165 26 15.8 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions60 17 43 252.9 %
MSRs hedge gain (loss)(52)(15)(37)(246.7)%
MSRs change due to payment decay(123)(108)(15)(13.9)%
MSR and related hedge impact(115)(106)(9)(8.5)%
Total mortgage income$146 $109 $37 33.9 %
Mortgage production - portfolio$1,763 $2,787 $(1,024)(36.7)%
Mortgage production - agency/secondary market1,923 1,509 414 27.4 %
Total mortgage production $3,686 $4,296 $(610)(14.2)%
Mortgage production - purchased87.1 %90.4 %
Mortgage production - refinanced12.9 %9.6 %
Wealth Management Income
Twelve Months EndedYear-to-Date Change 12/31/2024 vs. 12/31/2023
($ amounts in millions)12/31/202412/31/2023AmountPercent
Investment management and trust fee income$338 $313 $25 8.0 %
Investment services fee income157 138 19 13.8 %
Total wealth management income (3)
$495 $451 $44 9.8 %
Capital Markets Income
Twelve Months EndedYear-to-Date Change 12/31/2024 vs. 12/31/2023
($ amounts in millions)12/31/202412/31/2023AmountPercent
Capital markets income$348 $222 $126 56.8 %
Less: Valuation adjustments on customer derivatives (4)
(6)(50)44 88.0 %
Capital markets income excluding valuation adjustments $354 $272 $82 30.1 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.
15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Salaries and employee benefits$617 $645 $609 $658 $608 $(28)(4.3)%$9 1.5 %
Equipment and software expense104 101 100 101 102 3 3.0 %2 2.0 %
Net occupancy expense67 69 68 74 71 (2)(2.9)%(4)(5.6)%
Outside services42 41 40 39 43 1 2.4 %(1)(2.3)%
Marketing28 28 27 27 31 — — %(3)(9.7)%
Professional, legal and regulatory expenses 20 21 25 28 19 (1)(4.8)%1 5.3 %
Credit/checkcard expenses16 14 15 14 15 2 14.3 %1 6.7 %
FDIC insurance assessments (1)
20 17 29 43 147 3 17.6 %(127)(86.4)%
Visa class B shares expense6 17 5 4 6 (11)(64.7)%— — %
Early extinguishment of debt— — — — (4)— NM4 100.0 %
Operational losses (2)
16 19 18 42 29 (3)(15.8)%(13)(44.8)%
Branch consolidation, property and equipment charges 1 — 1 1 3 1 NM(2)(66.7)%
Other miscellaneous expenses101 97 67 100 115 4 4.1 %(14)(12.2)%
Total non-interest expense$1,038 $1,069 $1,004 $1,131 $1,185 $(31)(2.9)%$(147)(12.4)%
Twelve Months EndedYear-to-Date Change 12/31/2024 vs. 12/31/2023
($ amounts in millions)12/31/202412/31/2023AmountPercent
Salaries and employee benefits $2,529 $2,416 $113 4.7 %
Equipment and software expense406 412 (6)(1.5)%
Net occupancy expense278 289 (11)(3.8)%
Outside services162 163 (1)(0.6)%
Marketing110 110 — — %
Professional, legal and regulatory expenses 94 85 9 10.6 %
Credit/checkcard expenses59 60 (1)(1.7)%
FDIC insurance assessments (1)
109 228 (119)(52.2)%
Visa class B shares expense32 28 4 14.3 %
Early extinguishment of debt— (4)4 100.0 %
Operational losses95 212 (117)(55.2)%
Branch consolidation, property and equipment charges 3 7 (4)(57.1)%
Other miscellaneous expenses365 410 (45)(11.0)%
Total non-interest expense$4,242 $4,416 $(174)(3.9)%
_________
NM - Not Meaningful
(1) Includes an FDIC special assessment accrual reduction of $2 million in the fourth quarter of 2024 and $4 million in the third quarter of 2024 and an expense of $4 million in the second quarter of 2024, $18 million in the first quarter of 2024 and $119 million in the fourth quarter of 2023.
(2) The incremental increase in operational losses primarily due to check-related warranty claims totaled $22 million in the first quarter of 2024.
16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue
The tables below present computations of the efficiency ratio, which is a measure of productivity, generally calculated as non-interest expense divided by total revenue; and the fee income ratio, generally calculated as non-interest income divided by total revenue. Management uses these ratios to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Net interest income and non-interest income are added together to arrive at total revenue. Adjustments are made to arrive at adjusted total revenue (non-GAAP). Net interest income on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Also presented is a computation of the adjusted operating leverage ratio (non-GAAP), which is the period to period percentage change in adjusted total revenue on a taxable-equivalent basis (non-GAAP) less the percentage change in adjusted non-interest expense (non-GAAP).
 Quarter Ended
($ amounts in millions) 12/31/20249/30/20246/30/20243/31/202412/31/20234Q24 vs. 3Q244Q24 vs. 4Q23
Non-interest expense (GAAP)A$1,038 $1,069 $1,004 $1,131 $1,185 $(31)(2.9)%$(147)(12.4)%
Adjustments:
FDIC insurance special assessment (1)
2 4 (4)(18)(119)(2)(50.0)%121 101.7 %
Branch consolidation, property and equipment charges (1)— (1)(1)(3)(1)NM2 66.7 %
Salaries and employee benefits—severance charges(10)(3)(4)(13)(28)(7)(233.3)%18 64.3 %
Early extinguishment of debt— — — — 4 — NM(4)(100.0)%
Professional, legal and regulatory expenses— (1)— (2)(1)1 100.0 %1 100.0 %
Other miscellaneous expenses (2)
— — 37 — — — NM— NM
Adjusted non-interest expense (non-GAAP)B$1,029 $1,069 $1,032 $1,097 $1,038 $(40)(3.7)%$(9)(0.9)%
Net interest income (GAAP)C$1,230 $1,218 $1,186 $1,184 $1,231 $12 1.0 %$(1)(0.1)%
Taxable-equivalent adjustment13 12 12 13 13 1 8.3 %— — %
Net interest income, taxable-equivalent basisD$1,243 $1,230 $1,198 $1,197 $1,244 $13 1.1 %$(1)(0.1)%
Non-interest income (GAAP)E$585 $572 $545 $563 $580 $13 2.3 %$5 0.9 %
Adjustments:
Securities (gains) losses, net30 78 50 50 2 (48)(61.5)%28 NM
Leveraged lease termination gains— — — — (1)— NM1 100.0 %
Adjusted non-interest income (non-GAAP)F$615 $650 $595 $613 $581 $(35)(5.4)%$34 5.9 %
Total revenueC+E=G$1,815 $1,790 $1,731 $1,747 $1,811 $25 1.4 %$4 0.2 %
Adjusted total revenue (non-GAAP)C+F=H$1,845 $1,868 $1,781 $1,797 $1,812 $(23)(1.2)%$33 1.8 %
Total revenue, taxable-equivalent basisD+E=I$1,828 $1,802 $1,743 $1,760 $1,824 $26 1.4 %$4 0.2 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,858 $1,880 $1,793 $1,810 $1,825 $(22)(1.2)%$33 1.8 %
Operating leverage ratio (GAAP) (3)
I-A4.3 %12.6 %
Adjusted operating leverage ratio (non-GAAP) (3)
J-B2.6 %2.7 %
Efficiency ratio (GAAP) (3)
A/I56.8 %59.3 %57.6 %64.3 %65.0 %
Adjusted efficiency ratio (non-GAAP) (3)
B/J55.4 %56.9 %57.6 %60.6 %56.9 %
Fee income ratio (GAAP) (3)
E/I32.0 %31.7 %31.3 %32.0 %31.8 %
Adjusted fee income ratio (non-GAAP) (3)
F/J33.1 %34.6 %33.2 %33.9 %31.8 %
________
NM - Not Meaningful
(1) The fourth quarter 2024 and third quarter 2024 amounts reflect a reduction to the Company's FDIC special assessment accrual.
(2) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.
(3) Amounts have been calculated using whole dollar values.






17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue (continued)
Twelve Months Ended December 31
($ amounts in millions)202420232024 vs. 2023
Non-interest expense (GAAP)A$4,242 $4,416 $(174)(3.9)%
Adjustments:
FDIC insurance special assessment(16)(119)103 86.6 %
Branch consolidation, property and equipment charges(3)(7)4 57.1 %
Salaries and employee benefits—severance charges(30)(31)1 3.2 %
Early extinguishment of debt— 4 (4)(100.0)%
Professional, legal and regulatory expenses (3)(1)(2)(200.0)%
Other miscellaneous expenses (1)
37 — 37 NM
Adjusted non-interest expense (non-GAAP)B$4,227 $4,262 $(35)(0.8)%
Net interest income (GAAP) C$4,818 $5,320 $(502)(9.4)%
Taxable-equivalent adjustment50 51 (1)(2.0)%
Net interest income, taxable-equivalent basisD$4,868 $5,371 $(503)(9.4)%
Non-interest income (GAAP)E$2,265 $2,256 $9 0.4 %
Adjustments:
Securities (gains) losses, net208 5 203 NM
Leveraged lease termination gains— (2)2 100.0 %
Adjusted non-interest income (non-GAAP)F$2,473 $2,259 $214 9.5 %
Total revenueC+E= G$7,083 $7,576 $(493)(6.5)%
Adjusted total revenue (non-GAAP)C+F=H$7,291 $7,579 $(288)(3.8)%
Total revenue, taxable-equivalent basisD+E=I$7,133 $7,627 $(494)(6.5)%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$7,341 $7,630 $(289)(3.8)%
Operating leverage ratio (GAAP) (2)
I-A(2.5)%
Adjusted operating leverage ratio (non-GAAP) (2)
J-B(3.0)%
Efficiency ratio (GAAP) (2)
A/I59.5 %57.9 %
Adjusted efficiency ratio (non-GAAP) (2)
B/J57.6 %55.9 %
Fee income ratio (GAAP) (2)
E/I31.8 %29.6 %
Adjusted fee income ratio (non-GAAP) (2)
F/J33.7 %29.6 %
______
NM - Not Meaningful
(1) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.
(2)Amounts have been calculated using whole dollar values.





18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Return Ratios

The table below provides calculations of “return on average tangible common shareholders’ equity” (non-GAAP) and related ratios. Tangible common shareholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common shareholders’ equity measure. Because tangible common shareholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. In calculating return on average tangible common shareholders' equity ratios, Regions makes adjustments to shareholders' equity including average intangible assets and related deferred taxes, average preferred stock and average accumulated other comprehensive income (AOCI). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY*
Net income available to common shareholders (GAAP)A$508 $446 $477 $343 $367 
Average shareholders' equity (GAAP)$18,042 $18,047 $16,713 $17,121 $16,274 
Less: Average preferred stock (GAAP)1,715 1,741 1,659 1,659 1,659 
Average common shareholders' equity (GAAP)B16,327 16,306 15,054 15,462 14,615 
Less:
Average intangible assets (GAAP)5,907 5,916 5,925 5,934 5,944 
Average deferred tax liability related to intangibles (GAAP) (123)(120)(115)(113)(109)
Average tangible common shareholders' equity (non-GAAP)C$10,543 $10,510 $9,244 $9,641 $8,780 
Less: Average AOCI, after tax(2,547)(2,448)(3,525)(3,113)(3,925)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)D$13,090 $12,958 $12,769 $12,754 $12,705 
Return on average common shareholders' equity (GAAP)A/B12.39 %10.88 %12.74 %8.92 %9.95 %
Return on average tangible common shareholders' equity (non-GAAP) (1)
A/C19.19 %16.87 %20.75 %14.31 %16.57 %
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)
A/D15.46 %13.69 %15.02 %10.81 %11.45 %
Year Ended
($ amounts in millions)20242023
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY
Net income available to common shareholders (GAAP)D$1,774 $1,976 
Average shareholders' equity (GAAP)$17,484 $16,522 
Less: Average preferred stock (GAAP)1,693 1,659 
Average common shareholders' equity (GAAP)E$15,791 $14,863 
Less:
Average intangible assets (GAAP)5,920 5,960 
Average deferred tax liability related to intangibles (GAAP) (117)(106)
Average tangible common shareholders' equity (non-GAAP)F$9,988 $9,009 
Less: Average AOCI, after tax(2,906)(3,410)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)G$12,894 $12,419 
Return on average common shareholders' equity (GAAP)D/E11.24 %13.29 %
Return on average tangible common shareholders' equity (non-GAAP) (1)
D/F17.77 %21.93 %
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)
D/G13.76 %15.91 %
____
*Annualized
(1)Amounts have been calculated using whole dollar values.












19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release

Tangible Common Ratios
The following table provides a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP) and the calculations of the end of period “tangible common shareholders’ equity to tangible assets” and "tangible common book value per share" ratios (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
As of and for Quarter Ended
($ amounts in millions, except per share data)12/31/20249/30/20246/30/20243/31/202412/31/2023
TANGIBLE COMMON RATIOS
Shareholders’ equity (GAAP)A$17,879 $18,676 $17,169 $17,044 $17,429 
Less: Preferred stock (GAAP)1,715 1,715 1,659 1,659 1,659 
Common shareholders' equity (GAAP)B16,164 16,961 15,510 15,385 15,770 
Less:
Intangible assets (GAAP)5,902 5,911 5,920 5,929 5,938 
Deferred tax liability related to intangibles (GAAP)(126)(122)(119)(114)(112)
Tangible common shareholders’ equity (non-GAAP)C$10,388 $11,172 $9,709 $9,570 $9,944 
Total assets (GAAP)D$157,302 $157,426 $154,052 $154,909 $152,194 
Less:
Intangible assets (GAAP)5,902 5,911 5,920 5,929 5,938 
Deferred tax liability related to intangibles (GAAP)(126)(122)(119)(114)(112)
Tangible assets (non-GAAP)E$151,526 $151,637 $148,251 $149,094 $146,368 
Shares outstanding—end of quarterF909 911 915 918 924 
Total equity to total assets (GAAP) (1)
A/D11.37 %11.86 %11.14 %11.00 %11.45 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
C/E6.86 %7.37 %6.55 %6.42 %6.79 %
Common book value per share (GAAP) (1)
B/F$17.77 $18.62 $16.94 $16.76 $17.07 
Tangible common book value per share (non-GAAP) (1)
C/F$11.42 $12.26 $10.61 $10.42 $10.77 
____
(1)Amounts have been calculated using whole dollar values.

Common equity Tier 1 (CET1) Ratios

The following table presents CET1 and adjusted CET1 (non-GAAP). CET1 is a capital adequacy measure established by federal banking regulators under the Basel III framework. Banking institutions that meet requirements under the regulations are required to maintain certain minimum capital requirements, including a minimum CET1 ratio. This measure is utilized by analysts and banking regulators to assess Regions’ capital adequacy. Under the framework, Regions elected to remove certain of the effects of AOCI in the calculation of CET1. Adjustments to the calculation prescribed in federal banking regulations are considered to be non-GAAP financial measures. Adjustments to CET1 include certain portions of AOCI to arrive at CET1 inclusive of AOCI (non-GAAP), which is a potential impact under recent proposed rulemaking standards. Since analysts and banking regulators may assess Regions’ capital adequacy using proposed rulemaking standards, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

Quarter-Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023
ADJUSTED CET1 RATIO
Common equity Tier 1 (1)
A$13,434$13,185 $13,093 $12,913 $12,976 
Adjustments:
AOCI gain (loss) on securities (2)
(2,024)(1,369)(2,298)(2,264)(2,064)
AOCI gain (loss) on defined benefit pension plans and other post employment benefits(410)(437)(443)(447)(451)
Adjusted common equity Tier 1 (non-GAAP)B$11,000 $11,379 $10,352 $10,202 $10,461 
Total risk-weighted assets (1)
C$124,493$124,645 $125,682 $125,167 $126,475 
Common equity Tier 1 ratio (1)(3)
A/C10.8 %10.6 %10.4 %10.3 %10.3 %
Adjusted common equity Tier 1 ratio (non-GAAP) (1)(3)
B/C8.8 %9.1 %8.2 %8.2 %8.3 %
____
(1)Current quarter Common equity Tier 1 as well as Total risk-weighted assets are estimated.
(2)Represents AOCI gain (loss) on both AFS and HTM securities.
(3)Amounts have been calculated using whole dollar values.

20
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023
Components:
Beginning allowance for loan losses (ALL)$1,607 $1,621 $1,617 $1,576 $1,547 
Loans charged-off:
Commercial and industrial65 70 60 62 41 
Commercial real estate mortgage—owner-occupied2 1 1 — 1 
Commercial real estate construction—owner-occupied— — — — — 
Total commercial67 71 61 62 42 
Commercial investor real estate mortgage25 12 — 5 — 
Total investor real estate25 12 — 5 — 
Residential first mortgage1 — — 1 — 
Home equity—lines of credit— 1 1 1 — 
Home equity—closed-end— — — — — 
Consumer credit card16 16 15 16 14 
Other consumer—exit portfolios (1)
— — — 1 39 
Other consumer45 43 46 55 54 
Total consumer62 60 62 74 107 
Total154 143 123 141 149 
Recoveries of loans previously charged-off:
Commercial and industrial26 15 8 8 7 
Commercial real estate mortgage—owner-occupied1 — 1 — 1 
Commercial real estate construction—owner-occupied— — 1 — — 
Total commercial27 15 10 8 8 
Commercial investor real estate mortgage1 — 1 1 — 
Total investor real estate1 — 1 1 — 
Residential first mortgage— 1 1 1 — 
Home equity—lines of credit1 1 2 2 1 
Home equity—closed-end— — — — — 
Consumer credit card2 3 1 2 2 
Other consumer—exit portfolios— — — 1 1 
Other consumer4 6 7 5 5 
Total consumer7 11 11 11 9 
Total35 26 22 20 17 
Net charge-offs (recoveries):
Commercial and industrial39 55 52 54 34 
Commercial real estate mortgage—owner-occupied1 1 — — — 
Commercial real estate construction—owner-occupied— — (1)— — 
Total commercial40 56 51 54 34 
Commercial investor real estate mortgage24 12 (1)4 — 
Total investor real estate24 12 (1)4 — 
Residential first mortgage1 (1)(1)— — 
Home equity—lines of credit(1)— (1)(1)(1)
Home equity—closed-end— — — — — 
Consumer credit card14 13 14 14 12 
Other consumer—exit portfolios— — — — 38 
Other consumer41 37 39 50 49 
Total consumer55 49 51 63 98 
Total119 117 101 121 132 
Provision for loan losses (1)
125 103 105 162 161 
Ending allowance for loan losses (ALL)1,613 1,607 1,621 1,617 1,576 
Beginning reserve for unfunded credit commitments121 111 114 124 130 
Provision for (benefit from) unfunded credit losses(5)10 (3)(10)(6)
Ending reserve for unfunded commitments116 121 111 114 124 
Allowance for credit losses (ACL) at period end$1,729 $1,728 $1,732 $1,731 $1,700 
21
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/2023
Net loan charge-offs as a % of average loans, annualized (2):
Commercial and industrial0.31 %0.44 %0.42 %0.43 %0.26 %
Commercial real estate mortgage—owner-occupied0.10 %0.09 %(0.03)%0.02 %(0.02)%
Commercial real estate construction—owner-occupied(0.01)%(0.01)%(0.65)%(0.01)%(0.01)%
Total commercial0.29 %0.41 %0.37 %0.40 %0.24 %
Commercial investor real estate mortgage1.49 %0.71 %(0.01)%0.21 %(0.01)%
Commercial investor real estate construction— %(0.01)%— %— %— %
Total investor real estate1.12 %0.52 %— %0.15 %(0.01)%
Residential first mortgage— %(0.01)%(0.01)%(0.01)%— %
Home equity—lines of credit(0.01)%(0.08)%(0.13)%(0.10)%(0.05)%
Home equity—closed-end(0.03)%(0.01)%(0.02)%(0.02)%(0.02)%
Consumer credit card3.94 %3.84 %4.00 %4.39 %3.98 %
Other consumer—exit portfolios (1)
(5.53)%(0.67)%(5.01)%(4.03)%135.63 %
Other consumer2.67 %2.37 %2.57 %3.24 %3.13 %
Total consumer0.66 %0.58 %0.61 %0.76 %1.18 %
Total0.49 %0.48 %0.42 %0.50 %0.54 %
Non-performing loans, excluding loans held for sale$928 $821 $847 $906 $805 
Non-performing loans held for sale— 7 — 3 3 
Non-performing loans, including loans held for sale928 828 847 909 808 
Foreclosed properties14 17 15 13 15 
Non-performing assets (NPAs)$942 $845 $862 $922 $823 
Loans past due > 90 days (3)
$166 $183 $167 $147 $171 
Criticized loans—business (4)
$4,716 $4,692 $4,863 $4,978 $4,659 
Credit Ratios (2):
ACL/Loans, net1.79 %1.79 %1.78 %1.79 %1.73 %
ALL/Loans, net1.67 %1.66 %1.66 %1.67 %1.60 %
Allowance for credit losses to non-performing loans, excluding loans held for sale186 %210 %204 %191 %211 %
Allowance for loan losses to non-performing loans, excluding loans held for sale174 %196 %191 %179 %196 %
Non-performing loans, excluding loans held for sale/Loans, net0.96 %0.85 %0.87 %0.94 %0.82 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.97 %0.87 %0.88 %0.95 %0.84 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (3)
1.15 %1.06 %1.06 %1.10 %1.01 %
(1)In the fourth quarter of 2023, the Company sold substantially all of its portfolio of a third party relationship with an associated allowance of $27 million at the time of the sale. As shown in the table below, there was a $35 million fair value mark recorded through charge-offs, which resulted in a net provision expense of $8 million associated with the sale.
(2)Amounts have been calculated using whole dollar values.
(3)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 23 for amounts related to these loans.
(4)Business represents the combined total of commercial and investor real estate loans.
Allowance for Credit Losses
Twelve Months Ended December 31
($ amounts in millions)20242023
Balance at January 1, as adjusted for change in accounting guidance$1,700 $1,544 
Net charge-offs458 397 
Provision for loan losses495 547 
Provision for unfunded credit losses(8)6 
Balance at end of year$1,729 $1,700 
Net loan charge-offs as a % of average loans, annualized (GAAP) (1)
0.47 %0.40 %
____
(1)     Amounts have been calculated using whole dollar values.

Adjusted Net Charge-offs and Ratio (non-GAAP)

In the fourth quarter of 2023, the Company made the decision to sell substantially all of a loan portfolio associated with a third party relationship. The loans were marked to fair value through charge-offs as shown below. Management believes that excluding the incremental increase to net charge-offs from the net charge-off ratio (GAAP) to arrive at an adjusted net charge-off ratio (non-GAAP) will assist investors in analyzing the Company's credit quality performance as well as provide a better basis from which to predict future performance.
For the Quarter EndedFor the Year Ended
($ amounts in millions)12/31/20249/30/20246/30/20243/31/202412/31/202320242023
Net loan charge-offs (GAAP)$119 $117 $101 $121 $132 $458 $397 
Less: charge-offs associated with the sale of loans— — — — 35 — 35 
Adjusted net loan charge-offs (non-GAAP)$119 $117 $101 $121 $97 $458 $362 
Net loan charge-offs as a % of average loans, annualized (GAAP) (1)
0.49 %0.48 %0.42 %0.50 %0.54 %0.47 %0.40 %
Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) (1)
0.49 %0.48 %0.42 %0.50 %0.39 %0.47 %0.37 %
______
(1)     Amounts have been calculated using whole dollar values.
22
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Non-Performing Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)12/31/20249/30/20246/30/20243/31/202412/31/2023
Commercial and industrial$408 0.82 %$430 0.87 %$423 0.84 %$556 1.12 %$471 0.93 %
Commercial real estate mortgage—owner-occupied37 0.76 %43 0.88 %43 0.90 %40 0.83 %36 0.74 %
Commercial real estate construction—owner-occupied5 1.43 %6 1.75 %9 2.34 %10 3.42 %8 3.12 %
Total commercial450 0.82 %479 0.87 %475 0.86 %606 1.11 %515 0.92 %
Commercial investor real estate mortgage423 6.45 %287 4.38 %317 4.85 %241 3.76 %233 3.53 %
Total investor real estate423 4.86 %287 3.26 %317 3.58 %241 2.75 %233 2.63 %
Residential first mortgage23 0.12 %23 0.11 %22 0.11 %22 0.11 %22 0.11 %
Home equity—lines of credit26 0.81 %26 0.85 %27 0.88 %31 0.97 %29 0.89 %
Home equity—closed-end6 0.25 %6 0.24 %6 0.23 %6 0.24 %6 0.23 %
Total consumer55 0.17 %55 0.17 %55 0.17 %59 0.18 %57 0.17 %
Total non-performing loans$928 0.96 %$821 0.85 %$847 0.87 %$906 0.94 %$805 0.82 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)12/31/20249/30/20246/30/20243/31/202412/31/2023
Commercial and industrial $69 0.14 %$82 0.16 %$56 0.11 %$55 0.11 %$64 0.12 %
Commercial real estate mortgage—owner-occupied5 0.12 %4 0.09 %4 0.09 %8 0.17 %5 0.10 %
Commercial real estate construction—owner-occupied— — %— 0.10 %— — %1 0.18 %1 0.48 %
Total commercial74 0.14 %86 0.16 %60 0.11 %64 0.12 %70 0.12 %
Commercial investor real estate mortgage— — %45 0.70 %10 0.16 %— — %— — %
Total investor real estate— — %45 0.52 %10 0.12 %— — %— — %
Residential first mortgage—non-guaranteed (1)
155 0.79 %115 0.58 %109 0.55 %105 0.53 %106 0.53 %
Home equity—lines of credit24 0.76 %24 0.77 %23 0.75 %28 0.89 %27 0.84 %
Home equity—closed-end 17 0.68 %12 0.50 %13 0.51 %13 0.54 %14 0.57 %
Consumer credit card20 1.39 %19 1.36 %18 1.34 %18 1.35 %19 1.43 %
Other consumer—exit portfolios1 13.40 %1 9.52 %2 8.16 %2 5.61 %3 5.86 %
Other consumer76 1.25 %67 1.08 %65 1.06 %70 1.13 %91 1.47 %
Total consumer (1)
293 0.89 %238 0.72 %230 0.84 %236 0.84 %260 0.92 %
Total accruing 30-89 days past due loans (1)
$367 0.38 %$369 0.38 %$300 0.31 %$300 0.31 %$330 0.34 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)12/31/20249/30/20246/30/20243/31/202412/31/2023
Commercial and industrial$7 0.01 %$3 0.01 %$6 0.01 %$7 0.01 %$11 0.02 %
Commercial real estate mortgage—owner-occupied1 0.02 %1 0.02 %1 0.03 %— 0.01 %— 0.01 %
Total commercial8 0.01 %4 0.01 %7 0.01 %7 0.01 %11 0.02 %
Commercial investor real estate mortgage— — %40 0.60 %23 0.35 %— — %23 0.35 %
Total investor real estate— — %40 0.45 %23 0.26 %— — %23 0.26 %
Residential first mortgage—non-guaranteed (2)
88 0.45 %75 0.38 %73 0.37 %69 0.35 %61 0.31 %
Home equity—lines of credit16 0.52 %16 0.52 %18 0.56 %19 0.60 %20 0.62 %
Home equity—closed-end 7 0.30 %7 0.27 %6 0.26 %7 0.29 %7 0.30 %
Consumer credit card20 1.41 %19 1.40 %18 1.36 %19 1.42 %20 1.45 %
Other consumer—exit portfolios— 3.89 %— 2.22 %— 1.42 %— 1.08 %— 0.81 %
Other consumer27 0.44 %22 0.36 %21 0.34 %26 0.42 %29 0.46 %
Total consumer (2)
158 0.48 %139 0.43 %136 0.53 %140 0.55 %137 0.51 %
Total accruing 90+ days past due loans (2)
$166 0.17 %$183 0.19 %$166 0.17 %$147 0.15 %$171 0.17 %
Total delinquencies (1) (2)
$533 0.55 %$552 0.57 %$466 0.48 %$447 0.46 %$501 0.51 %
(1)Excludes loans that are 100% guaranteed by FHA and guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 30-89 days past due guaranteed loans excluded were $62 million at 12/31/2024, $52 million at 9/30/2024, $50 million at 6/30/2024, $45 million at 3/31/2024, and $46 million at 12/31/2023.
(2)Excludes loans that are 100% guaranteed by FHA and all guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 90 days or more past due guaranteed loans excluded were $55 million at 12/31/2024, $46 million at 9/30/2024, $40 million at 6/30/2024, $44 million at 3/31/2024, and $34 million at 12/31/2023.
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Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:
•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in interest rates and unemployment rates, inflation, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.
•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our businesses and our financial results and conditions.
•Changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets (such as our portfolio of investment securities) and obligations, as well as the availability and cost of capital and liquidity.
•Volatility and uncertainty about the direction of interest rates and the timing of any changes, which may lead to increased costs for businesses and consumers and potentially contribute to poor business and economic conditions generally.
•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.
•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.
•Possible acceleration of prepayments on mortgage-backed securities due to declining interest rates, and the related acceleration of premium amortization on those securities.
•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.
•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, or the need to price interest-bearing deposits higher due to competitive forces. Either of these activities could increase our funding costs.
•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.
•The loss of value of our investment portfolio could negatively impact market perceptions of us.
•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our businesses.
•The effects of social media on market perceptions of us and banks generally.
•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•Volatility in the financial services industry (including failures or rumors of failures of other depository institutions), along with actions taken by governmental agencies to address such turmoil, could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital.
•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of which possess greater financial resources than we do or are subject to different regulatory standards than we are.
•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.
•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.
•The development and use of AI presents risks and challenges that may impact our business.
•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.
•The risks and uncertainties related to our acquisition or divestiture of businesses and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within expected timeframes, or might be less than projected; and difficulties in integrating acquired businesses.
•The success of our marketing efforts in attracting and retaining customers.
•Our ability to achieve our expense management initiatives.
•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair the ability of those borrowers to service any loans outstanding to them and/or reduce demand for loans in those industries.
•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.
•Fraud, theft or other misconduct conducted by external parties, including our customers and business partners, or by our employees.
•Any inaccurate or incomplete information provided to us by our customers or counterparties.
•Inability of our framework to manage risks associated with our businesses, such as credit risk and operational risk, including third-party vendors and other service providers, which inability could, among other things, result in a breach of operating or security systems as a result of a cyber-attack or similar act or failure to deliver our services effectively.
•Our ability to identify and address operational risks associated with the introduction of or changes to products, services, or delivery platforms.
•Dependence on key suppliers or vendors to obtain equipment and other supplies for our businesses on acceptable terms.
•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.
•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our businesses and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.
24
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Fourth Quarter 2024 Earnings Release
•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.
•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.
•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.
•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, such as changes to debit card interchange fees, special FDIC assessments, any new long-term debt requirements, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the changes in U.S. presidential administration, control of the U.S. Congress, and changes in personnel at the bank regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.
•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.
•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.
•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.
•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.
•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.
•The effects of anti-takeover laws and exclusive forum provision in our certificate of incorporation and bylaws.
•The effect of new tax legislation and/or interpretation of existing tax law, which may impact our earnings, capital ratios and our ability to return capital to shareholders.
•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.
•Any impairment of our goodwill or other intangibles, any repricing of assets or any adjustment of valuation allowances on our deferred tax assets due to changes in tax law, adverse changes in the economic environment declining operations of the reporting unit or other factors.
•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes and environmental damage (especially in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and frequency of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.
•The impact of pandemics on our businesses, operations and financial results and conditions. The duration and severity of any pandemic as well as government actions or other restrictions in connection with such events could disrupt the global economy, adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values and result in lost revenue or additional expenses.
•The effects of any damage to our reputation resulting from developments related to any of the items identified above.
•Other risks identified from time to time in reports that we file with the SEC.

The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2023 and in Regions’ subsequent filings with the SEC.
You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.
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