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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
  FORM 8-K
 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 18, 2024
 REGIONS FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 001-34034 63-0589368
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)
1900 Fifth Avenue North
Birmingham, Alabama 35203
(Address, including zip code, of principal executive office)
Registrant’s telephone number, including area code: (800) 734-4667
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $.01 par valueRFNew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series CRF PRCNew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
4.45% Non-Cumulative Perpetual Preferred Stock, Series ERF PRENew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
Non-Cumulative Perpetual Preferred Stock, Series FRF PRFNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨


Item 2.02    Results of Operations and Financial Condition.
    
On October 18, 2024, Regions Financial Corporation (“Regions”) issued a press release announcing its preliminary results of operations for the quarter ended September 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1. Supplemental financial information for the quarter ended September 30, 2024 is attached as Exhibit 99.2. Each of Exhibits 99.1 and 99.2 are incorporated herein by reference and may also be found on Regions’ website at www.regions.com.
Item 7.01    Regulation FD Disclosure.
    
On October 18, 2024, executives from Regions will review its preliminary results of operations for the quarter ended September 30, 2024, via a live audio webcast. A copy of a visual presentation that will be a part of that review is attached as Exhibit 99.3. Exhibit 99.3 is incorporated herein by reference and may also be found on Regions’ website at www.regions.com. An archived recording of the webcast will be available for a limited time on the Investor Relations page of that website.
    
In accordance with general instruction B.2. of Form 8-K, the information included in or incorporated into Item 2.02 or Item 7.01 of this Current Report on Form 8-K is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing.
Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number Description of Exhibit
99.1  
Press Release dated October 18, 2024.
99.2  
Supplemental Financial Information for the Quarter Ended September 30, 2024.
99.3  
Visual Presentation of October 18, 2024.
104Cover Page Interactive Data (embedded within the Inline XBRL document).






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
                                
REGIONS FINANCIAL CORPORATION
By: /s/ Karin K. Allen
Name: Karin K. Allen
Title: Executive Vice President and Assistant Controller (Chief Accounting Officer and Authorized Officer)
Date: October 18, 2024



newsrelease_logoa78a.jpgExhibit 99.1
  
Media Contact:    Investor Relations Contact:
Jeremy King     Dana Nolan
(205) 264-4551    (205) 264-7040

Regions reports third quarter 2024 earnings of $446 million, earnings per diluted share of $0.49
Strategic execution of Regions' long-term plan leads to solid core performance, quarterly revenue growth.

BIRMINGHAM, Ala. - (BUSINESS WIRE) - October 18, 2024 - Regions Financial Corp. (NYSE:RF) today reported earnings for the third quarter ended September 30, 2024. The company reported third quarter net income available to common shareholders of $446 million and earnings per diluted share of $0.49. The company reported $1.8 billion in total revenue during the quarter, including $721 million in reported pre-tax pre-provision income(1) and $799 million in adjusted pre-tax pre-provision income(1). Third quarter results were impacted by the following notable items: the impact of additional strategic securities repositioning and issuance costs associated with the redemption of the company's Series B Preferred Stock. The net impact of these items reduced reported third quarter earnings per diluted share by $0.08.

“During the third quarter, Regions continued its focus on delivering consistent, sustainable, long-term performance as evidenced by our solid quarterly revenue growth, including another record within wealth management, and margin expansion despite a challenging lending and interest rate environment. We have a great strategic plan and a leadership team with a proven track record of successful execution. The investments we are making in talent, technology, products and services, along with our fast-growing markets, position us well to continue generating top-quartile returns," said John Turner, Chairman, President and CEO of Regions Financial Corp.

Turner added, "To that end, I am proud of how our teams have responded to serve and support communities impacted by the recent hurricanes. Our branch network fared well, with minimal impacts from the storms, and we immediately launched disaster-recovery financial services to help customers and associates with storm-related needs."
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SUMMARY OF THIRD QUARTER 2024 RESULTS:
Quarter Ended
(amounts in millions, except per share data)9/30/20246/30/20249/30/2023
Net income$490 $501 $490 
Preferred dividends and other*44 24 25 
Net income available to common shareholders$446 $477 $465 
Weighted-average diluted shares outstanding918 918 940 
Actual shares outstanding—end of period911 915 939 
Diluted earnings per common share$0.49 $0.52 $0.49 
Selected items impacting earnings:
Pre-tax adjusted items(1):
Adjustments to non-interest expense(1)
$— $28 $(4)
Adjustments to non-interest income(1)
(78)(50)(1)
Total pre-tax adjusted items(1)
$(78)$(22)$(5)
After-tax preferred stock redemption expense*
$(15)$— $— 
Diluted EPS impact**$(0.08)$(0.01)$— 
Pre-tax additional selected items***:
Incremental operational losses related to check warranty claims
$— $— $(53)
Visa Class B litigation escrow funding
14 — — 
*        The third quarter 2024 amount includes $15 million of Series B preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed. Excluding the preceding adjusted item, total third quarter 2024 preferred dividends also includes $4 million representing a partial dividend payment for the newly issued Series F preferred stock.
**     Based on income taxes at an approximate 25% incremental rate. The second quarter 2024 adjustment to non-interest expense for a contingent reserve release related to a prior acquisition included a non-taxable component.
***     Items impacting results or trends during the period, but are not considered non-GAAP adjustments.



Non-GAAP adjusted items(1) impacting the company's earnings are identified to assist investors in analyzing Regions' operating results on the same basis as that applied by management and provide a basis to predict future performance.

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Total revenue
Quarter Ended
($ amounts in millions)9/30/20246/30/20249/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Net interest income$1,218 $1,186 $1,291 $32 2.7 %$(73)(5.7)%
Taxable equivalent adjustment12 12 13 — — %(1)(7.7)%
Net interest income, taxable equivalent basis$1,230 $1,198 $1,304 $32 2.7 %$(74)(5.7)%
Net interest margin (FTE)3.54 %3.51 %3.73 %
Non-interest income:
Service charges on deposit accounts$158 $151 $142 $7 4.6 %$16 11.3 %
Card and ATM fees118 120 126 (2)(1.7)%(8)(6.3)%
Wealth management income128 122 112 6 4.9 %16 14.3 %
Capital markets income92 68 64 24 35.3 %28 43.8 %
Mortgage income36 34 28 2 5.9 %8 28.6 %
Commercial credit fee income28 28 24 — — %4 16.7 %
Bank-owned life insurance28 30 20 (2)(6.7)%8 40.0 %
Market value adjustments on employee benefit assets*13 2 4 11 NM9 225.0 %
Securities gains (losses), net**
(78)(50)(1)(28)(56.0)%(77)NM
Other miscellaneous income49 40 47 9 22.5 %2 4.3 %
Non-interest income$572 $545 $566 $27 5.0 %$6 1.1 %
Adjusted non-interest income (non-GAAP)$650 $595 $567 $55 9.2 %$83 14.6 %
Total revenue$1,790 $1,731 $1,857 $59 3.4 %$(67)(3.6)%
Adjusted total revenue (non-GAAP)(1)
$1,868 $1,781 $1,858 $87 4.9 %$10 0.5 %
NM - Not Meaningful
* These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits and other non-interest expense.
** The third quarter 2024 includes $75 million of securities losses associated with an additional securities repositioning transaction, and $3 million associated with the sale of certain employee benefit assets.


Total revenue increased 3 percent to approximately $1.8 billion on a reported basis and 5 percent to approximately $1.9 billion on an adjusted basis(1) compared to the second quarter of 2024. Net interest income increased 3 percent to slightly over $1.2 billion compared to the second quarter as deposit cost pressures eased and asset yields benefited from the maturity and replacement of lower-yielding, fixed rate loans and securities at higher levels. Total net interest margin increased 3 basis points to 3.54 percent.

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Non-interest income increased 5 percent on a reported basis and 9 percent on an adjusted basis(1) compared to the second quarter of 2024. With respect to adjusted items, the company incurred $78 million in securities losses, largely attributable to the execution of additional securities repositioning trades. Service charges increased 5 percent attributable primarily to an increase in treasury management revenue and an additional business day in the quarter. Wealth Management increased 5 percent driven by increased sales activity and continued strength in financial markets. Capital markets income increased 35 percent to $92 million, attributable primarily to increased merger and acquisition advisory services and debt capital markets activity. Favorable market value adjustments on employee assets and gains from the sale of certain low income housing tax credit investments also contributed to the third quarter increase.

Non-interest expense
Quarter Ended
($ amounts in millions)9/30/20246/30/20249/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Salaries and employee benefits$645 $609 $589 $36 5.9 %$56 9.5 %
Equipment and software expense101 100 107 1 1.0 %(6)(5.6)%
Net occupancy expense69 68 72 1 1.5 %(3)(4.2)%
Outside services41 40 39 1 2.5 %2 5.1 %
Marketing28 27 26 1 3.7 %2 7.7 %
Professional, legal and regulatory expenses21 25 27 (4)(16.0)%(6)(22.2)%
Credit/checkcard expenses14 15 16 (1)(6.7)%(2)(12.5)%
FDIC insurance assessments17 29 27 (12)(41.4)%(10)(37.0)%
Visa class B shares expense17 5 5 12 240.0 %12 240.0 %
Operational losses
19 18 75 1 5.6 %(56)(74.7)%
Branch consolidation, property and equipment charges— 1 1 (1)(100.0)%(1)(100.0)%
Other97 67 109 30 44.8 %(12)(11.0)%
Total non-interest expense $1,069 $1,004 $1,093 $65 6.5 %$(24)(2.2)%
Total adjusted non-interest expense(1)
$1,069 $1,032 $1,089 $37 3.6 %$(20)(1.8)%
NM - Not Meaningful


Non-interest expense increased 6 percent and 4 percent on a reported and adjusted basis(1), respectively, compared to the second quarter of 2024. Third quarter adjusted items offset each other, while the second quarter included a $37 million expense reduction associated with a contingent reserve release from a prior acquisition that did not repeat. Salaries and benefits increased 6 percent driven primarily by one additional day in the quarter, higher incentive compensation associated with revenue growth, and the offsetting impact of increased market value adjustments on employee benefit assets recorded in non-interest income. The company also recognized $14 million of expense during the quarter associated with its proportionate share of ongoing Visa litigation escrow related to their class B shares.

4

The company's third quarter efficiency ratio was 59.3 percent on a reported and 56.9 percent on an adjusted basis(1). The effective tax rate was 19.4 percent in the third quarter.

Loans and Leases
Average Balances
($ amounts in millions)3Q242Q243Q233Q24 vs. 2Q243Q24 vs. 3Q23
Commercial and industrial$49,847 $50,046 $51,721 $(199)(0.4)%$(1,874)(3.6)%
Commercial real estate—owner-occupied5,212 5,115 5,100 97 1.9 %112 2.2%
Investor real estate8,759 8,839 8,617 (80)(0.9)%142 1.6%
Business Lending63,818 64,000 65,438 (182)(0.3)%(1,620)(2.5)%
Residential first mortgage20,147 20,191 19,914 (44)(0.2)%233 1.2%
Home equity5,530 5,557 5,688 (27)(0.5)%(158)(2.8)%
Consumer credit card1,359 1,331 1,245 28 2.1 %114 9.2%
Other consumer—exit portfolios13 22 384 (9)(40.9)%(371)(96.6)%
Other consumer*6,173 6,180 6,116 (7)(0.1)%57 0.9%
Consumer Lending33,222 33,281 33,347 (59)(0.2)%(125)(0.4)%
Total Loans$97,040 $97,281 $98,785 $(241)(0.2)%$(1,745)(1.8)%
NM - Not meaningful.
*     Other consumer loans includes Regions' Home Improvement Financing portfolio (formerly EnerBank).


Average loans and leases remained relatively stable compared to the prior quarter. Within the business portfolio, average loans remained relatively stable, while ending loans decreased 1 percent. Within the consumer portfolio, average loans remained relatively stable as modest growth in consumer credit card was offset by modest declines in other categories.
Deposits
Average Balances
($ amounts in millions)3Q242Q243Q233Q24 vs. 2Q243Q24 vs. 3Q23
Total interest-bearing deposits$86,260 $86,385 $80,472 $(125)(0.1)%$5,788 7.2%
Non-interest-bearing deposits39,690 40,516 44,748 (826)(2.0)%(5,058)(11.3)%
Total Deposits$125,950 $126,901 $125,220 $(951)(0.7)%$730 0.6%
($ amounts in millions)3Q242Q243Q233Q24 vs. 2Q243Q24 vs. 3Q23
Consumer Bank Segment$78,904 $79,809 $80,036 $(905)(1.1)%$(1,132)(1.4)%
Corporate Bank Segment36,867 36,669 34,924 198 0.5%1,943 5.6%
Wealth Management Segment7,374 7,534 7,451 (160)(2.1)%(77)(1.0)%
Other2,805 2,889 2,809 (84)(2.9)%(4)(0.1)%
Total Deposits$125,950 $126,901 $125,220 $(951)(0.7)%$730 0.6%
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Ending Balances as of
9/30/20249/30/2024
($ amounts in millions)9/30/20246/30/20249/30/2023 vs. 6/30/2024 vs. 9/30/2023
Consumer Bank Segment$78,858 $80,126 $80,980 $(1,268)(1.6)%$(2,122)(2.6)%
Corporate Bank Segment36,955 36,529 34,650 426 1.2%2,305 6.7%
Wealth Management Segment7,520 7,383 7,791 137 1.9%(271)(3.5)%
Other3,043 2,578 2,778 465 18.0%265 9.5%
Total Deposits$126,376 $126,616 $126,199 $(240)(0.2)%$177 0.1%

The company's deposit base continues to be a source of strength and a differentiator in liquidity and margin performance. Total deposits continued to follow expected patterns in the third quarter. Ending deposits remained relatively stable with the second quarter, while average deposits decreased approximately 1 percent, consistent with normal summer spending patterns primarily among consumers.

Asset quality
As of and for the Quarter Ended
($ amounts in millions)9/30/20246/30/20249/30/2023
Allowance for credit losses (ACL) at period end$1,728$1,732$1,677
ACL/Loans, net1.79%1.78%1.70%
ALL/Loans, net1.66%1.66%1.56%
Allowance for credit losses to non-performing loans, excluding loans held for sale210%204%261%
Allowance for loan losses to non-performing loans, excluding loans held for sale196%191%241%
Provision for credit losses$113$102$145
Net loans charged-off$117$101$101
Net loans charged-off as a % of average loans, annualized0.48%0.42%0.40%
Non-performing loans, excluding loans held for sale/Loans, net0.85%0.87%0.65%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.87%0.88%0.67%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale*1.06%1.06%0.81%
Total Criticized Loans—Business Services**
$4,692$4,863$4,167
* Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing.
** Business services represents the combined total of commercial and investor real estate loans.

Net charge-offs were $117 million or 48 basis points of average loans during the quarter. As expected, this represents an increase of 6 basis points from the prior quarter and reflects losses from previously identified portfolios of interest. Underlying asset quality metrics continue to show signs of stabilization. Non-performing loans as a percentage of total loans declined 2 basis points to 85 basis points and business services criticized loans declined $171 million or 4 percent compared to the prior quarter. Net charge-offs are expected to remain towards the upper end of the company's 40 to 50 basis point range attributable to a few large credits within those
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same portfolios. However, these expected losses are substantially reserved for within the allowance for credit losses as of quarter-end.

The allowance for credit loss ratio increased 1 basis point to 1.79 percent, while the allowance as a percentage of nonperforming loans increased 6 percentage points to 210 percent.
    
Capital and liquidity
As of and for Quarter Ended
9/30/20246/30/20249/30/2023
Common Equity Tier 1 ratio(2)
10.6%10.4%10.3%
Tier 1 capital ratio(2)
11.9%11.7%11.6%
Tangible common stockholders’ equity to tangible assets (non-GAAP)(1)
7.37%6.55%5.82%
Tangible common book value per share (non-GAAP)(1)*
$12.26$10.61$9.16
Loans, net of unearned income, to total deposits76.6%77.0%78.4%
* Tangible common book value per share includes the impact of quarterly earnings and changes to market value adjustments within accumulated other comprehensive income, as well as continued capital returns.
Regions maintains a solid capital position with estimated capital ratios remaining well above current regulatory requirements. The Common Equity Tier 1(2) and Tier 1(2) ratios were estimated at 10.6 percent and 11.9 percent, respectively, at quarter-end.

Tangible common book value per share ended the quarter at $12.26, a 16 percent increase quarter over quarter and a 34 percent increase year over year.

During the third quarter, the company repurchased approximately 4 million shares of common stock for a total of $101 million through open market purchases and declared $229 million in dividends to common shareholders.

On July 29, 2024, the company issued $500 million of Series F non-cumulative perpetual preferred stock. On September 16, 2024, the company used the proceeds from the Series F issuance to redeem its $500 million Series B preferred stock.

The company's liquidity position also remains robust as of September 30, 2024, with total available liquidity of approximately $62 billion, which includes cash held at the Federal Reserve, FHLB borrowing capacity, unencumbered securities, and capacity at the Federal Reserve's facilities such as the Discount window or Standing Repo Facility. These sources are sufficient to cover uninsured deposits at a ratio of approximately 180 percent as of quarter end (this ratio excludes intercompany and secured deposits).

(1)Non-GAAP; refer to pages 12, 16, 17 and 18 of the financial supplement to this earnings release for reconciliations.
(2)Current quarter Common Equity Tier 1, and Tier 1 capital ratios are estimated.

7


Conference Call
In addition to the live audio webcast at 10 a.m. ET on Oct. 18, 2024, an archived recording of the webcast will be available at the Investor Relations page of ir.regions.com following the live event.

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $157 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

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.
•Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•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.
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•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.
•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.
•Political uncertainty in the United States, including uncertainty around elections, could directly or indirectly impact 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.
•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.
9

•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.


Use of non-GAAP financial measures
Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) 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. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) 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. Net loan charge-offs (GAAP) are presented excluding adjustments to arrive at adjusted net loan-charge offs (non-GAAP). Adjusted net loan charge-offs as a percentage of average loans (non-GAAP) are calculated as adjusted net loan charge-offs (non-GAAP) divided by average loans (GAAP) and annualized. Regions believes that the exclusion of these adjustments 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. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.

Tangible common stockholders’ 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 stockholders’ equity measure. Because tangible common stockholders’ 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. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these 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 selected items does not represent the amount that effectively accrues directly to stockholders.
Management and the Board of Directors utilize non-GAAP measures as follows:
•Preparation of Regions' operating budgets
•Monthly financial performance reporting
•Monthly close-out reporting of consolidated results (management only)
•Presentation to investors of company performance
•Metrics for incentive compensation

Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.
10


Exhibit 99.2

regionslogob22.jpg
Regions Financial Corporation and Subsidiaries
Financial Supplement (unaudited)
Third Quarter 2024





Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third 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, Return Ratios, and Tangible Common 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 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 Third Quarter 2024 Earnings Release
Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)9/30/20246/30/20243/31/202412/31/20239/30/2023
Earnings Summary
Interest income - taxable equivalent$1,832 $1,774 $1,737 $1,764 $1,779 
Interest expense - taxable equivalent602 576 540 520 475 
Net interest income - taxable equivalent1,230 1,198 1,197 1,244 1,304 
Less: Taxable-equivalent adjustment12 12 13 13 13 
Net interest income 1,218 1,186 1,184 1,231 1,291 
Provision for credit losses113 102 152 155 145 
Net interest income after provision for credit losses1,105 1,084 1,032 1,076 1,146 
Non-interest income572 545 563 580 566 
Non-interest expense1,069 1,004 1,131 1,185 1,093 
Income before income taxes608 625 464 471 619 
Income tax expense118 124 96 80 129 
Net income$490 $501 $368 $391 $490 
Net income available to common shareholders$446 $477 $343 $367 $465 
Weighted-average shares outstanding—during quarter:
Basic914 917 921 931 939 
Diluted918 918 923 931 940 
Earnings per common share - basic$0.49 $0.52 $0.37 $0.39 $0.49 
Earnings per common share - diluted$0.49 $0.52 $0.37 $0.39 $0.49 
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$96,789 $97,508 $96,862 $98,379 $98,942 
Allowance for credit losses(1,728 )(1,732 )(1,731 )(1,700 )(1,677 )
Assets157,426 154,052 154,909 152,194 153,624 
Deposits126,376 126,616 128,982 127,788 126,199 
Long-term borrowings6,016 5,083 3,327 2,330 4,290 
Shareholders' equity18,676 17,169 17,044 17,429 16,100 
Average balances
Loans, net of unearned income$97,040 $97,281 $97,420 $98,293 $98,785 
Assets154,667 152,867 151,444 151,738 153,484 
Deposits125,950 126,901 127,126 126,414 125,220 
Long-term borrowings5,351 3,595 2,405 3,627 4,295 
Shareholders' equity18,047 16,713 17,121 16,274 16,468 



1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 9/30/20246/30/20243/31/202412/31/20239/30/2023
Return on average assets* (1)
1.26 %1.32 %0.98 %1.02 %1.26 %
Return on average common shareholders' equity*10.88 %12.74 %8.92 %9.95 %12.45 %
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
16.87 %20.75 %14.31 %16.57 %20.58 %
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP)* (2)
13.69 %15.02 %10.81 %11.45 %14.58 %
Efficiency ratio59.3 %57.6 %64.3 %65.0 %58.5 %
Adjusted efficiency ratio (non-GAAP) (2)
56.9 %57.6 %60.6 %56.9 %58.2 %
Dividend payout ratio (3)
51.3 %46.1 %64.2 %60.5 %48.5 %
Common book value per share$18.62 $16.94 $16.76 $17.07 $15.38 
Tangible common book value per share (non-GAAP) (2)
$12.26 $10.61 $10.42 $10.77 $9.16 
Total shareholders' equity to total assets11.86 %11.14 %11.00 %11.45 %10.48 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
7.37 %6.55 %6.42 %6.79 %5.82 %
Common equity (4)
$13,184$13,093 $12,913 $12,976 $13,056 
Total risk-weighted assets (4)
$124,753$125,682 $125,167 $126,475 $126,900 
Common equity Tier 1 ratio (4)
10.6 %10.4 %10.3 %10.3 %10.3 %
Tier 1 capital ratio (4)
11.9 %11.7 %11.6 %11.6 %11.6 %
Total risk-based capital ratio (4)
13.9 %13.6 %13.6 %13.4 %13.4 %
Leverage ratio (4)
9.8 %9.8 %9.8 %9.7 %9.7 %
Effective tax rate 19.4 %19.8 %20.7 %17.0 %20.9 %
Allowance for credit losses as a percentage of loans, net of unearned income1.79 %1.78 %1.79 %1.73 %1.70 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 210 %204 %191 %211 %261 %
Net interest margin (FTE)* 3.54 %3.51 %3.55 %3.60 %3.73 %
Loans, net of unearned income, to total deposits76.6 %77.0 %75.1 %77.0 %78.4 %
Net charge-offs as a percentage of average loans*0.48 %0.42 %0.50 %0.54 %0.40 %
Adjusted net charge-offs as a percentage of average loans (non-GAAP) * (2)
0.48 %0.42 %0.50 %0.39 %0.40 %
Non-performing loans, excluding loans held for sale, as a percentage of loans0.85 %0.87 %0.94 %0.82 %0.65 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale0.87 %0.88 %0.95 %0.84 %0.67 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (5)
1.06 %1.06 %1.10 %1.01 %0.81 %
Associate headcount—full-time equivalent 19,560 19,595 19,641 20,101 20,257 
ATMs 2,019 2,022 2,019 2,023 2,022 
Branch Statistics
Full service1,235 1,236 1,236 1,242 1,243 
Drive-through/transaction service only26 26 27 29 29 
Total branch outlets1,261 1,262 1,263 1,271 1,272 
*Annualized
(1)Calculated by dividing net income by average assets.
(2)See reconciliation of GAAP to non-GAAP Financial Measures that begin on pages 12, 16, 18 and 19.
(3)Dividend payout ratio reflects dividends declared within the applicable period.
(4)Current quarter Common equity as well as Total risk-weighted assets, Common equity Tier 1, 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 21 for amounts related to these loans.

2
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Consolidated Balance Sheets
As of
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023
Assets:
Cash and due from banks$2,665 $2,955 $2,527 $2,635 $1,554 
Interest-bearing deposits in other banks7,856 5,524 8,723 4,166 7,462 
Debt securities held to maturity2,787 733 743 754 763 
Debt securities available for sale28,698 28,537 27,881 28,104 26,228 
Loans held for sale522 552 417 400 459 
Loans, net of unearned income 96,789 97,508 96,862 98,379 98,942 
Allowance for loan losses
(1,607)(1,621)(1,617)(1,576)(1,547)
Net loans95,182 95,887 95,245 96,803 97,395 
Other earning assets1,625 1,844 1,478 1,417 1,552 
Premises and equipment, net1,648 1,630 1,635 1,642 1,616 
Interest receivable596 608 588 614 625 
Goodwill5,733 5,733 5,733 5,733 5,733 
Residential mortgage servicing rights at fair value (MSRs)971 1,020 1,026 906 932 
Other identifiable intangible assets, net178 187 196 205 216 
Other assets8,965 8,842 8,717 8,815 9,089 
Total assets$157,426 $154,052 $154,909 $152,194 $153,624 
Liabilities and Equity:
Deposits:
Non-interest-bearing$39,698 $40,927 $41,824 $42,368 $44,640 
Interest-bearing86,678 85,689 87,158 85,420 81,559 
Total deposits126,376 126,616 128,982 127,788 126,199 
Borrowed funds:
Short-term borrowings1,500 513 1,000 — 2,000 
Long-term borrowings6,016 5,083 3,327 2,330 4,290 
Other liabilities4,807 4,638 4,522 4,583 5,010 
Total liabilities138,699 136,850 137,831 134,701 137,499 
Equity:
Preferred stock, non-cumulative perpetual1,715 1,659 1,659 1,659 1,659 
Common stock10 10 10 10 10 
Additional paid-in capital11,438 11,575 11,666 11,757 11,996 
Retained earnings8,778 8,561 8,304 8,186 8,042 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income (loss), net(1,894)(3,265)(3,224)(2,812)(4,236)
Total shareholders’ equity18,676 17,169 17,044 17,429 16,100 
Noncontrolling interest
51 33 34 64 25 
Total equity
18,727 17,202 17,078 17,493 16,125 
Total liabilities and equity$157,426 $154,052 $154,909 $152,194 $153,624 







3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
End of Period Loans
As of
    9/30/20249/30/2024
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023 vs. 6/30/2024 vs. 9/30/2023
Commercial and industrial$49,565 $50,222 $49,701 $50,865 $51,604 $(657)(1.3)%$(2,039)(4.0)%
Commercial real estate mortgage—owner-occupied4,873 4,781 4,788 4,887 4,833 92 1.9 %40 0.8 %
Commercial real estate construction—owner-occupied341 370 306 281 270 (29)(7.8)%71 26.3 %
Total commercial54,779 55,373 54,795 56,033 56,707 (594)(1.1)%(1,928)(3.4)%
Commercial investor real estate mortgage 6,562 6,536 6,422 6,605 6,436 26 0.4 %126 2.0 %
Commercial investor real estate construction2,250 2,301 2,341 2,245 2,301 (51)(2.2)%(51)(2.2)%
Total investor real estate8,812 8,837 8,763 8,850 8,737 (25)(0.3)%75 0.9 %
Total business63,591 64,210 63,558 64,883 65,444 (619)(1.0)%(1,853)(2.8)%
Residential first mortgage20,125 20,206 20,199 20,207 20,059 (81)(0.4)%66 0.3 %
Home equity—lines of credit (1)
3,130 3,142 3,155 3,221 3,240 (12)(0.4)%(110)(3.4)%
Home equity—closed-end (2)
2,404 2,410 2,415 2,439 2,428 (6)(0.2)%(24)(1.0)%
Consumer credit card1,372 1,349 1,314 1,341 1,261 23 1.7 %111 8.8 %
Other consumer—exit portfolios (3)
9 17 28 43 356 (8)(47.1)%(347)(97.5)%
Other consumer6,158 6,174 6,193 6,245 6,154 (16)(0.3)%4 0.1 %
Total consumer33,198 33,298 33,304 33,496 33,498 (100)(0.3)%(300)(0.9)%
Total Loans$96,789 $97,508 $96,862 $98,379 $98,942 $(719)(0.7)%$(2,153)(2.2)%
______
NM - Not meaningful.
(1)     The balance of Regions' home equity lines of credit consists of $1,464 million of first lien and $1,666 million of second lien at 9/30/2024.
(2)    The balance of Regions' closed-end home equity loans consists of $1,935 million of first lien and $469 million of second lien at 9/30/2024.
(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)
9/30/20246/30/20243/31/202412/31/20239/30/2023
Commercial and industrial51.2 %51.5 %51.3 %51.7 %52.2 %
Commercial real estate mortgage—owner-occupied5.0 %4.9 %4.9 %5.0 %5.0 %
Commercial real estate construction—owner-occupied0.4 %0.4 %0.3 %0.3 %0.3 %
Total commercial56.6 %56.8 %56.6 %57.0 %57.5 %
Commercial investor real estate mortgage6.8 %6.7 %6.6 %6.7 %6.5 %
Commercial investor real estate construction2.3 %2.4 %2.4 %2.3 %2.3 %
Total investor real estate9.1 %9.1 %9.0 %9.0 %8.8 %
Total business65.7 %65.9 %65.6 %66.0 %66.3 %
Residential first mortgage20.8 %20.7 %20.9 %20.5 %20.3 %
Home equity—lines of credit 3.2 %3.2 %3.3 %3.3 %3.3 %
Home equity—closed-end 2.5 %2.5 %2.5 %2.5 %2.5 %
Consumer credit card1.4 %1.4 %1.4 %1.4 %1.3 %
Other consumer—exit portfolios— %— %— %— %0.4 %
Other consumer6.4 %6.3 %6.4 %6.3 %5.9 %
Total consumer34.3 %34.1 %34.4 %34.0 %33.7 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %
(1)Amounts have been calculated using whole dollar values.

4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Average Balances of Loans
 Average Balances
($ amounts in millions)3Q242Q241Q244Q233Q233Q24 vs. 2Q243Q24 vs. 3Q23
Commercial and industrial$49,847 $50,046 $50,090 $50,939 $51,721 $(199)(0.4)%$(1,874)(3.6)%
Commercial real estate mortgage—owner-occupied4,877 4,765 4,833 4,864 4,824 112 2.4 %53 1.1 %
Commercial real estate construction—owner-occupied335 350 298 272 276 (15)(4.3)%59 21.4 %
Total commercial55,059 55,161 55,221 56,075 56,821 (102)(0.2)%(1,762)(3.1)%
Commercial investor real estate mortgage6,495 6,610 6,558 6,574 6,333 (115)(1.7)%162 2.6 %
Commercial investor real estate construction2,264 2,229 2,275 2,198 2,284 35 1.6 %(20)(0.9)%
Total investor real estate8,759 8,839 8,833 8,772 8,617 (80)(0.9)%142 1.6 %
Total business 63,818 64,000 64,054 64,847 65,438 (182)(0.3)%(1,620)(2.5)%
Residential first mortgage20,147 20,191 20,188 20,132 19,914 (44)(0.2)%233 1.2 %
Home equity—lines of credit3,128 3,145 3,182 3,231 3,270 (17)(0.5)%(142)(4.3)%
Home equity—closed-end2,402 2,412 2,423 2,432 2,418 (10)(0.4)%(16)(0.7)%
Consumer credit card1,359 1,331 1,315 1,295 1,245 28 2.1 %114 9.2 %
Other consumer—exit portfolios (1)
13 22 35 110 384 (9)(40.9)%(371)(96.6)%
Other consumer6,173 6,180 6,223 6,246 6,116 (7)(0.1)%57 0.9 %
Total consumer33,222 33,281 33,366 33,446 33,347 (59)(0.2)%(125)(0.4)%
Total Loans$97,040 $97,281 $97,420 $98,293 $98,785 $(241)(0.2)%$(1,745)(1.8)%
Average Balances
Nine Months Ended September 30
($ amounts in millions)202420232024 vs. 2023
Commercial and industrial$49,994 $51,641 $(1,647)(3.2)%
Commercial real estate mortgage—owner-occupied4,825 4,913 (88)(1.8)%
Commercial real estate construction—owner-occupied328 287 41 14.3 %
Total commercial55,147 56,841 (1,694)(3.0)%
Commercial investor real estate mortgage6,554 6,412 142 2.2 %
Commercial investor real estate construction2,256 2,090 166 7.9 %
Total investor real estate8,810 8,502 308 3.6 %
Total business 63,957 65,343 (1,386)(2.1)%
Residential first mortgage20,175 19,436 739 3.8 %
Home equity—lines of credit3,151 3,360 (209)(6.2)%
Home equity—closed-end2,413 2,437 (24)(1.0)%
Consumer credit card1,335 1,225 110 9.0 %
Other consumer—exit portfolios (1)
23 454 (431)(94.9)%
Other consumer6,192 5,965 227 3.8 %
Total consumer33,289 32,877 412 1.3 %
Total Loans$97,246 $98,220 $(974)(1.0)%
_____
(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 Third Quarter 2024 Earnings Release
End of Period Deposits
 As of
     9/30/20249/30/2024
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023 vs. 6/30/2024 vs. 9/30/2023
Interest-free deposits$39,698 $40,927 $41,824 $42,368 $44,640 $(1,229)(3.0)%$(4,942)(11.1)%
Interest-bearing checking23,704 23,631 24,668 24,480 22,428 730.3%1,2765.7%
Savings12,085 12,386 12,786 12,604 13,292 (301)(2.4)%(1,207)(9.1)%
Money market—domestic35,205 34,438 34,251 33,364 32,646 7672.2%2,5597.8%
Time deposits15,684 15,234 15,453 14,972 13,193 4503.0%2,49118.9%
Total Deposits$126,376 $126,616 $128,982 $127,788 $126,199 $(240)(0.2)%$1770.1%
 As of
   9/30/20249/30/2024
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023 vs. 6/30/2024 vs. 9/30/2023
Consumer Bank Segment$78,858 $80,126 $81,129 $80,031 $80,980 $(1,268)(1.6)%$(2,122)(2.6)%
Corporate Bank Segment36,955 36,529 37,043 36,883 34,650 4261.2%2,3056.7%
Wealth Management Segment7,520 7,383 7,792 7,694 7,791 1371.9%(271)(3.5)%
Other (1)(2)
3,043 2,578 3,018 3,180 2,778 46518.0%2659.5%
Total Deposits$126,376 $126,616 $128,982 $127,788 $126,199 $(240)(0.2)%$1770.1%
 As of
    9/30/20249/30/2024
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023 vs. 6/30/2024 vs. 9/30/2023
Wealth Management - Private Wealth$6,676 $6,430 $6,664 $6,719 $6,706 $2463.8%$(30)(0.4)%
Wealth Management - Institutional Services844 953 1,128 975 1,085 (109)(11.4)%(241)(22.2)%
Total Wealth Management Segment Deposits$7,520 $7,383 $7,792 $7,694 $7,791 $1371.9%$(271)(3.5)%

As of
End of Period Deposits by Percentage9/30/20246/30/20243/31/202412/31/20239/30/2023
Interest-free deposits31.4 %32.3 %32.4 %33.2 %35.4 %
Interest-bearing checking18.8 %18.7 %19.1 %19.2 %17.8 %
Savings9.6 %9.8 %9.9 %9.9 %10.5 %
Money market—domestic27.9 %27.2 %26.6 %26.1 %25.9 %
Time deposits12.3 %12.0 %12.0 %11.6 %10.4 %
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.
(2)Includes brokered deposits totaling $2.3 billion at 9/30/2024, $1.8 billion at 6/30/2024, $2.3 billion at 3/31/2024, $2.4 billion at 12/31/2023 and $1.9 billion at 9/30/2023.










6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)3Q242Q241Q244Q233Q233Q24 vs. 2Q243Q24 vs. 3Q23
Interest-free deposits$39,690 $40,516 $40,926 $43,167 $44,748 $(826)(2.0)%$(5,058)(11.3)%
Interest-bearing checking23,599 24,026 24,682 23,128 22,499 (427)(1.8)%1,100 4.9 %
Savings12,183 12,536 12,594 12,858 13,715 (353)(2.8)%(1,532)(11.2)%
Money market—domestic 35,051 34,368 33,646 33,216 32,146 683 2.0 %2,905 9.0 %
Time deposits15,427 15,455 15,278 14,045 12,112 (28)(0.2)%3,315 27.4 %
Total Deposits$125,950 $126,901 $127,126 $126,414 $125,220 $(951)(0.7)%730 0.6 %
 Average Balances
($ amounts in millions)3Q242Q241Q244Q233Q233Q24 vs. 2Q243Q24 vs. 3Q23
Consumer Bank Segment$78,904 $79,809 $79,150 $79,384 $80,036 $(905)(1.1)%$(1,132)(1.4)%
Corporate Bank Segment36,867 36,669 37,064 36,291 34,924 198 0.5 %1,943 5.6 %
Wealth Management Segment7,374 7,534 7,766 7,690 7,451 (160)(2.1)%(77)(1.0)%
Other (1)
2,805 2,889 3,146 3,049 2,809 (84)(2.9)%(4)(0.1)%
Total Deposits$125,950 $126,901 $127,126 $126,414 $125,220 $(951)(0.7)%$730 0.6 %
 Average Balances
($ amounts in millions)3Q242Q241Q244Q233Q233Q24 vs. 2Q243Q24 vs. 3Q23
Wealth Management - Private Wealth$6,557 $6,577 $6,720 $6,677 $6,701 $(20)(0.3)%$(144)(2.1)%
Wealth Management - Institutional Services817 957 1,046 1,013 750 (140)(14.6)%67 8.9 %
Total Wealth Management Segment Deposits$7,374 $7,534 $7,766 $7,690 $7,451 $(160)(2.1)%$(77)(1.0)%

Average Balances
Nine Months Ended September 30
($ amounts in millions)202420232024 vs. 2023
Interest-free deposits$40,375 $47,155 $(6,780)(14.4)%
Interest-bearing checking24,100 23,383 717 3.1 %
Savings12,437 14,605 (2,168)(14.8)%
Money market—domestic34,358 32,077 2,281 7.1 %
Time deposits15,386 9,366 6,020 64.3 %
Total Deposits$126,656 $126,586 $70 0.1 %
Average Balances
Nine Months Ended September 30
($ amounts in millions)202420232024 vs. 2023
Consumer Bank Segment$79,286 $81,070 $(1,784)(2.2)%
Corporate Bank Segment36,867 35,348 1,519 4.3 %
Wealth Management Segment7,557 7,791 (234)(3.0)%
Other (1)
2,946 2,377 569 23.9 %
Total Deposits$126,656 $126,586 $70 0.1 %
Average Balances
Nine Months Ended September 30
($ amounts in millions)202420232024 vs. 2023
Wealth Management - Private Wealth$6,617 $7,110 $(493)(6.9)%
Wealth Management - Institutional Services940 681 259 38.0 %
Total Wealth Management Segment Deposits$7,557 $7,791 $(234)(3.0)%
________
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and wholesale funding arrangements.


7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Consolidated Statements of Income
Quarter Ended
($ amounts in millions, except per share data)9/30/20246/30/20243/31/202412/31/20239/30/2023
Interest income on:
Loans, including fees $1,463 $1,432 $1,421 $1,457 $1,462 
Debt securities241 219 209 192 185 
Loans held for sale11 9 8 9 14 
Other earning assets 105 102 86 93 105 
Total interest income1,820 1,762 1,724 1,751 1,766 
Interest expense on:
Deposits507 502 495 449 367 
Short-term borrowings10 13 1 10 39 
Long-term borrowings85 61 44 61 69 
Total interest expense602 576 540 520 475 
Net interest income 1,218 1,186 1,184 1,231 1,291 
Provision for credit losses113 102 152 155 145 
Net interest income after provision for credit losses1,105 1,084 1,032 1,076 1,146 
Non-interest income:
Service charges on deposit accounts158 151 148 143 142 
Card and ATM fees118 120 116 127 126 
Wealth management income128 122 119 117 112 
Capital markets income92 68 91 48 64 
Mortgage income36 34 41 31 28 
Securities gains (losses), net(78)(50)(50)(2)(1)
Other118 100 98 116 95 
Total non-interest income572 545 563 580 566 
Non-interest expense:
Salaries and employee benefits645 609 658 608 589 
Equipment and software expense101 100 101 102 107 
Net occupancy expense69 68 74 71 72 
Other254 227 298 404 325 
Total non-interest expense1,069 1,004 1,131 1,185 1,093 
Income before income taxes608 625 464 471 619 
Income tax expense 118 124 96 80 129 
Net income $490 $501 $368 $391 $490 
Net income available to common shareholders$446 $477 $343 $367 $465 
Weighted-average shares outstanding—during quarter:
Basic914 917 921 931 939 
Diluted918 918 923 931 940 
Actual shares outstanding—end of quarter911 915 918 924 939 
Earnings per common share: (1)
Basic$0.49 $0.52 $0.37 $0.39 $0.49 
Diluted$0.49 $0.52 $0.37 $0.39 $0.49 
Taxable-equivalent net interest income$1,230 $1,198 $1,197 $1,244 $1,304 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.




8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Consolidated Statements of Income (continued) (unaudited)
Nine Months Ended September 30
($ amounts in millions, except per share data)20242023
Interest income on:
Loans, including fees$4,316 $4,276 
Debt securities669 557 
Loans held for sale28 31 
Other earning assets 293 282 
Total interest income5,306 5,146 
Interest expense on:
Deposits1,504 806 
Short-term borrowings24 86 
Long-term borrowings190 165 
Total interest expense1,718 1,057 
Net interest income3,588 4,089 
Provision for credit losses367 398 
Net interest income after provision for credit losses3,221 3,691 
Non-interest income:
Service charges on deposit accounts457 449 
Card and ATM fees354 377 
Wealth management income 369 334 
Capital markets income251 174 
Mortgage income111 78 
Securities gains (losses), net(178)(3)
Other316 267 
Total non-interest income1,680 1,676 
Non-interest expense:
Salaries and employee benefits1,912 1,808 
Equipment and software expense302 310 
Net occupancy expense211 218 
Other779 895 
Total non-interest expense3,204 3,231 
Income before income taxes1,697 2,136 
Income tax expense 338 453 
Net income $1,359 $1,683 
Net income available to common shareholders$1,266 $1,609 
Weighted-average shares outstanding—during year:
Basic917 938 
Diluted919 940 
Actual shares outstanding—end of period911 939 
Earnings per common share:
Basic$1.38 $1.72 
Diluted$1.38 $1.71 
Taxable-equivalent net interest income$3,625 $4,127 

9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 9/30/20246/30/2024
($ 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 $— 5.44 %$1 $— 5.44 %
Debt securities (2)(3)
32,252 241 2.98 31,649 219 2.77 
Loans held for sale642 11 6.56 531 9 6.85 
Loans, net of unearned income:
Commercial and industrial (4)
49,847 773 6.14 50,046 756 6.04 
Commercial real estate mortgage—owner-occupied (5)
4,877 60 4.80 4,765 56 4.59 
Commercial real estate construction—owner-occupied335 6 6.29 350 6 6.52 
Commercial investor real estate mortgage6,495 119 7.16 6,610 119 7.11 
Commercial investor real estate construction2,264 46 7.94 2,229 45 7.96 
Residential first mortgage20,147 196 3.90 20,191 191 3.79 
Home equity5,530 96 6.96 5,557 95 6.87 
Consumer credit card1,359 51 14.82 1,331 48 14.62 
Other consumer—exit portfolios13 — 1.88 22 — 1.58 
Other consumer6,173 128 8.28 6,180 128 8.33 
Total loans, net of unearned income97,040 1,475 6.02 97,281 1,444 5.93 
Interest-bearing deposits in other banks6,682 92 5.52 6,158 86 5.65 
Other earning assets1,456 13 3.58 1,447 16 4.43 
Total earning assets 138,073 1,832 5.26 137,067 1,774 5.17 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(2,213)(3,267)
Allowance for loan losses(1,629)(1,619)
Cash and due from banks2,822 2,678 
Other non-earning assets17,614 18,008 
$154,667 $152,867 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $12,183 4 0.13 $12,536 4 0.13 
Interest-bearing checking23,599 98 1.64 24,026 99 1.68 
Money market 35,051 247 2.80 34,368 239 2.79 
Time deposits15,427 158 4.09 15,455 160 4.16 
Total interest-bearing deposits (6)
86,260 507 2.34 86,385 502 2.34 
Federal funds purchased and securities sold under agreements to repurchase22 — 4.40 8 — 5.45 
Short-term borrowings641 10 5.42 962 13 5.49 
Long-term borrowings5,351 85 6.28 3,595 61 6.73 
Total interest-bearing liabilities92,274 602 2.59 90,950 576 2.55 
Non-interest-bearing deposits (6)
39,690 — — 40,516 — — 
Total funding sources131,964 602 1.81 131,466 576 1.76 
Net interest spread (2)
2.67 2.62 
Other liabilities4,623 4,655 
Shareholders’ equity18,047 16,713 
Noncontrolling interest33 33 
$154,667 $152,867 
Net interest income/margin FTE basis (2)
$1,230 3.54 %$1,198 3.51 %
_______
(1) Amounts have been calculated using whole dollar values.
(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 $3 million for the quarter ended September 30, 2024 and $2 million for the quarter ended June 30, 2024.
(4) Interest income includes hedging expense of $98 million for the quarter ended September 30, 2024 and $103 million for the quarter ended June 30, 2024.
(5) Interest income includes hedging expense of $12 million for the quarter ended September 30, 2024 and $13 million for the quarter ended June 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 1.60% for the quarter ended September 30, 2024 and 1.59% for the quarter ended June 30, 2024.


10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 3/31/202412/31/20239/30/2023
($ 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 $— 5.32 %
Debt securities (2)(3)
31,494 209 2.66 31,144 192 2.47 31,106 185 2.38 
Loans held for sale499 8 6.40 459 9 8.15 910 14 5.99 
Loans, net of unearned income:
Commercial and industrial (4)
50,090 750 5.99 50,939 784 6.08 51,721 804 6.14 
Commercial real estate mortgage—owner-occupied (5)
4,833 56 4.58 4,864 58 4.68 4,824 58 4.72 
Commercial real estate construction—owner-occupied298 4 5.79 272 4 5.77 276 4 5.74 
Commercial investor real estate mortgage6,558 117 7.05 6,574 119 7.09 6,333 113 6.95 
Commercial investor real estate construction2,275 46 7.97 2,198 45 7.97 2,284 46 7.84 
Residential first mortgage20,188 191 3.79 20,132 187 3.72 19,914 179 3.59 
Home equity5,605 95 6.77 5,663 96 6.82 5,688 94 6.63 
Consumer credit card1,315 50 15.21 1,295 50 15.29 1,245 48 15.57 
Other consumer—exit portfolios35 — 1.67 110 1 1.09 384 6 6.35 
Other consumer6,223 125 8.08 6,246 126 7.95 6,116 123 7.93 
Total loans, net of unearned income 97,420 1,434 5.88 98,293 1,470 5.92 98,785 1,475 5.91 
Interest-bearing deposits in other banks4,754 68 5.69 5,753 80 5.56 6,374 90 5.56 
Other earning assets1,339 18 5.49 1,336 13 3.66 1,465 15 4.09 
Total earning assets
135,507 1,737 5.12 136,986 1,764 5.10 138,641 1,779 5.08 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(3,042)(3,788)(3,626)
Allowance for loan losses(1,596)(1,540)(1,526)
Cash and due from banks2,581 2,242 2,165 
Other non-earning assets17,994 17,838 17,830 
$151,444 $151,738 $153,484 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $12,594 4 0.13 $12,858 3 0.11 $13,715 4 0.12 
Interest-bearing checking24,682 106 1.72 23,128 91 1.56 22,499 74 1.31 
Money market 33,646 227 2.72 33,216 215 2.57 32,146 179 2.20 
Time deposits15,278 158 4.16 14,045 140 3.95 12,112 110 3.59 
Total interest-bearing deposits (6)
86,200 495 2.31 83,247 449 2.14 80,472 367 1.81 
Federal funds purchased and securities sold under agreements to repurchase8 — 5.40 27 1 5.51 8 — 5.46 
Short-term borrowings77 1 5.56 652 9 5.58 2,794 39 5.48 
Long-term borrowings2,405 44 7.26 3,627 61 6.57 4,295 69 6.31 
Total interest-bearing liabilities 88,690 540 2.45 87,553 520 2.36 87,569 475 2.15 
Non-interest-bearing deposits (6)
40,926 — — 43,167 — — 44,748 — — 
Total funding sources129,616 540 1.67 130,720 520 1.58 132,317 475 1.42 
Net interest spread (2)
2.68 2.75 2.93 
Other liabilities4,663 4,717 4,677 
Shareholders’ equity17,121 16,274 16,468 
Noncontrolling interest44 27 22 
$151,444 $151,738 $153,484 
Net interest income/margin FTE basis (2)
$1,197 3.55 %$1,244 3.60 %$1,304 3.73 %
_______
(1) Amounts have been calculated using whole dollar values.
(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 March 31, 2024 and hedge expense of $1 million for the quarter ended December 31, 2023.
(4) Interest income includes hedging expense of $104 million for the quarter ended March 31, 2024, $95 million for the quarter ended December 31, 2023 and $73 million for the quarter ended September 30, 2023.
(5) Interest income includes hedging expense of $13 million for the quarter ended March 31, 2024, $12 million for the quarter ended December 31, 2023 and $9 million for the quarter ended September 30, 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 1.56% for the quarter ended March 31, 2024, 1.41% for the quarter ended December 31, 2023 and 1.16% for the quarter ended September 30, 2023.



11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third 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 base 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)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Net income available to common shareholders (GAAP)$446 $477 $343 $367 $465 $(31)(6.5)%$(19)(4.1)%
Preferred dividends and other (GAAP) (1)
44 24 25 24 25 20 83.3 %19 76.0 %
Income tax expense (GAAP)118 124 96 80 129 (6)(4.8)%(11)(8.5)%
Income before income taxes (GAAP)608 625 464 471 619 (17)(2.7)%(11)(1.8)%
Provision for credit losses (GAAP)113 102 152 155 145 11 10.8 %(32)(22.1)%
Pre-tax pre-provision income (non-GAAP)721 727 616 626 764 (6)(0.8)%(43)(5.6)%
Other adjustments:
Securities (gains) losses, net78 50 50 2 1 28 56.0 %77 NM
Leveraged lease termination gains, net— — — (1)— — NM— NM
FDIC insurance special assessment (2)
(4)4 18 119 — (8)(200.0)%(4)NM
Salaries and employee benefits—severance charges3 4 13 28 3 (1)(25.0)%— — %
Branch consolidation, property and equipment charges— 1 1 3 1 (1)(100.0)%(1)(100.0)%
Early extinguishment of debt— — — (4)— — NM— NM
Other miscellaneous expenses (3)
— (37)— — — 37 100.0 %— NM
Professional, legal and regulatory expenses1 — 2 1 — 1 NM1 NM
Total other adjustments78 22 84 148 5 56 254.5 %73 NM
Adjusted pre-tax pre-provision income (non-GAAP)$799 $749 $700 $774 $769 $50 6.7 %$30 3.9 %
______
NM - Not meaningful
(1) The third quarter of 2024 amount includes $15 million of Series B preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed during the third quarter of 2024.
(2) The third quarter 2024 amount reflects 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.





12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Service charges on deposit accounts$158 $151 $148 $143 $142 $7 4.6 %$16 11.3 %
Card and ATM fees118 120 116 127 126 (2)(1.7)%(8)(6.3)%
Wealth management income128 122 119 117 112 6 4.9 %16 14.3 %
Capital markets income (1)
92 68 91 48 64 24 35.3 %28 43.8 %
Mortgage income36 34 41 31 28 2 5.9 %8 28.6 %
Commercial credit fee income 28 28 27 27 24 — — %4 16.7 %
Bank-owned life insurance28 30 23 22 20 (2)(6.7)%8 40.0 %
Market value adjustments on employee benefit assets (2)
13 2 15 12 4 11 NM9 225.0 %
Securities gains (losses), net(78)(50)(50)(2)(1)(28)(56.0)%(77)NM
Other miscellaneous income49 40 33 55 47 9 22.5 %2 4.3 %
Total non-interest income$572 $545 $563 $580 $566 $27 5.0 %$6 1.1 %
Mortgage Income
Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Production and sales$16 $16 $24 $9 $10 $— — %$6 60.0 %
Loan servicing53 46 44 46 42 7 15.2 %11 26.2 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions(28)13 19 (24)45 (41)(315.4)%(73)(162.2)%
MSRs hedge gain (loss)28 (10)(17)29 (41)38 380.0 %69 168.3 %
MSRs change due to payment decay(33)(31)(29)(29)(28)(2)(6.5)%(5)(17.9)%
MSR and related hedge impact(33)(28)(27)(24)(24)(5)(17.9)%(9)(37.5)%
Total mortgage income$36 $34 $41 $31 $28 $2 5.9 %$8 28.6 %
Mortgage production - portfolio$468 $528 $354 $475 $762 $(60)(11.4)%$(294)(38.6)%
Mortgage production - agency/secondary market548 514 399 349 408 34 6.6 %140 34.3 %
Total mortgage production$1,016 $1,042 $753 $824 $1,170 $(26)(2.5)%$(154)(13.2)%
Mortgage production - purchased85.5 %90.7 %90.0 %90.8 %90.7 %
Mortgage production - refinanced14.5 %9.3 %10.0 %9.2 %9.3 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Investment management and trust fee income$85 $83 $81 $81 $79 $2 2.4 %$6 7.6 %
Investment services fee income43 39 38 36 33 4 10.3 %10 30.3 %
Total wealth management income (3)
$128 $122 $119 $117 $112 $6 4.9 %$16 14.3 %
Capital Markets Income
Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Capital markets income$92 $68 $91 $48 $64 $24 35.3 %$28 43.8 %
Less: Valuation adjustments on customer derivatives (4)
(1)(2)(2)(5)(3)1 50.0 %2 66.7 %
Capital markets income excluding valuation adjustments $93 $70 $93 $53 $67 $23 32.9 %$26 38.8 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.
13
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Non-Interest Income
($ amounts in millions)Nine Months EndedYear-to-Date Change 9/30/2024 vs. 9/30/2023
9/30/20249/30/2023AmountPercent
Service charges on deposit accounts$457 $449 $8 1.8 %
Card and ATM fees354 377 (23)(6.1)%
Wealth management income369 334 35 10.5 %
Capital markets income (1)
251 174 77 44.3 %
Mortgage income111 78 33 42.3 %
Commercial credit fee income 83 78 5 6.4 %
Bank-owned life insurance81 56 25 44.6 %
Market value adjustments on employee benefit assets (2)
30 3 27 NM
Securities gains (losses), net(178)(3)(175)NM
Other miscellaneous income122 130 (8)(6.2)%
Total non-interest income$1,680 $1,676 $4 0.2 %
Mortgage Income
Nine Months EndedYear-to-Date Change 9/30/2024 vs. 9/30/2023
($ amounts in millions)9/30/20249/30/2023AmountPercent
Production and sales$56 $41 $15 36.6 %
Loan servicing143 119 24 20.2 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions4 41 (37)(90.2)%
MSRs hedge gain (loss)1 (44)45 102.3 %
MSRs change due to payment decay(93)(79)(14)(17.7)%
MSR and related hedge impact(88)(82)(6)(7.3)%
Total mortgage income$111 $78 $33 42.3 %
Mortgage production - portfolio$1,350 $2,312 $(962)(41.6)%
Mortgage production - agency/secondary market1,461 1,160 301 25.9 %
Total mortgage production $2,811 $3,472 $(661)(19.0)%
Mortgage production - purchased88.7 %90.3 %
Mortgage production - refinanced11.3 %9.7 %
Wealth Management Income
Nine Months EndedYear-to-Date Change 9/30/2024 vs. 9/30/2023
($ amounts in millions)9/30/20249/30/2023AmountPercent
Investment management and trust fee income$249 $232 $17 7.3 %
Investment services fee income120 102 18 17.6 %
Total wealth management income (3)
$369 $334 $35 10.5 %
Capital Markets Income
Nine Months EndedYear-to-Date Change 9/30/2024 vs. 9/30/2023
($ amounts in millions)9/30/20249/30/2023AmountPercent
Capital markets income$251 $174 $77 44.3 %
Less: Valuation adjustments on customer derivatives (4)
(5)(45)40 88.9 %
Capital markets income excluding valuation adjustments $256 $219 $37 16.9 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.
14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Salaries and employee benefits$645 $609 $658 $608 $589 $36 5.9 %$56 9.5 %
Equipment and software expense101 100 101 102 107 1 1.0 %(6)(5.6)%
Net occupancy expense69 68 74 71 72 1 1.5 %(3)(4.2)%
Outside services41 40 39 43 39 1 2.5 %2 5.1 %
Marketing28 27 27 31 26 1 3.7 %2 7.7 %
Professional, legal and regulatory expenses 21 25 28 19 27 (4)(16.0)%(6)(22.2)%
Credit/checkcard expenses14 15 14 15 16 (1)(6.7)%(2)(12.5)%
FDIC insurance assessments (1)
17 29 43 147 27 (12)(41.4)%(10)(37.0)%
Visa class B shares expense17 5 4 6 5 12 240.0 %12 240.0 %
Early extinguishment of debt— — — (4)— — NM— NM
Operational losses (2)
19 18 42 29 75 1 5.6 %(56)(74.7)%
Branch consolidation, property and equipment charges — 1 1 3 1 (1)(100.0)%(1)(100.0)%
Other miscellaneous expenses97 67 100 115 109 30 44.8 %(12)(11.0)%
Total non-interest expense$1,069 $1,004 $1,131 $1,185 $1,093 $65 6.5 %$(24)(2.2)%
Nine Months EndedYear-to-Date Change 9/30/2024 vs. 9/30/2023
($ amounts in millions)9/30/20249/30/2023AmountPercent
Salaries and employee benefits $1,912 $1,808 $104 5.8 %
Equipment and software expense302 310 (8)(2.6)%
Net occupancy expense211 218 (7)(3.2)%
Outside services120 120 — — %
Marketing82 79 3 3.8 %
Professional, legal and regulatory expenses 74 66 8 12.1 %
Credit/checkcard expenses43 45 (2)(4.4)%
FDIC insurance assessments (1)
89 81 8 9.9 %
Visa class B shares expense26 22 4 18.2 %
Operational losses79 183 (104)(56.8)%
Branch consolidation, property and equipment charges 2 4 (2)(50.0)%
Other miscellaneous expenses264 295 (31)(10.5)%
Total non-interest expense$3,204 $3,231 $(27)(0.8)%
_________
NM - Not Meaningful
(1) Includes an FDIC special assessment accrual reduction of $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. The incremental increase in operational losses primarily due to check-related warranty claims totaled $53 million in the third quarter of 2023.
15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
`    `Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue
The tables below present computations of the efficiency ratio, which is a measure of productivity, generally calculated as non-interest expense divided by total revenue; and the fee income ratio, generally calculated as non-interest income divided by total revenue. Management uses these ratios to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Net interest income and non-interest income are added together to arrive at total revenue. Adjustments are made to arrive at adjusted total revenue (non-GAAP). Net interest income on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Also presented is a computation of the adjusted operating leverage ratio (non-GAAP) which is the period to period percentage change in adjusted total revenue on a taxable-equivalent basis (non-GAAP) less the percentage change in adjusted non-interest expense (non-GAAP).
 Quarter Ended
($ amounts in millions) 9/30/20246/30/20243/31/202412/31/20239/30/20233Q24 vs. 2Q243Q24 vs. 3Q23
Non-interest expense (GAAP)A$1,069 $1,004 $1,131 $1,185 $1,093 $65 6.5 %$(24)(2.2)%
Adjustments:
FDIC insurance special assessment4 (4)(18)(119)— 8 200.0 %4 NM
Branch consolidation, property and equipment charges — (1)(1)(3)(1)1 100.0 %1 100.0 %
Salaries and employee benefits—severance charges(3)(4)(13)(28)(3)1 25.0 %— — %
Early extinguishment of debt— — — 4 — — NM— NM
Professional, legal and regulatory expenses(1)— (2)(1)— (1)NM(1)NM
Other miscellaneous expenses (1)
— 37 — — — (37)(100.0)%— NM
Adjusted non-interest expense (non-GAAP)B$1,069 $1,032 $1,097 $1,038 $1,089 $37 3.6 %$(20)(1.8)%
Net interest income (GAAP)C$1,218 $1,186 $1,184 $1,231 $1,291 $32 2.7 %$(73)(5.7)%
Taxable-equivalent adjustment12 12 13 13 13 — — %(1)(7.7)%
Net interest income, taxable-equivalent basisD$1,230 $1,198 $1,197 $1,244 $1,304 $32 2.7 %$(74)(5.7)%
Non-interest income (GAAP)E$572 $545 $563 $580 $566 $27 5.0 %$6 1.1 %
Adjustments:
Securities (gains) losses, net78 50 50 2 1 28 56.0 %77 NM
Leveraged lease termination gains— — — (1)— — NM— NM
Adjusted non-interest income (non-GAAP)F$650 $595 $613 $581 $567 $55 9.2 %$83 14.6 %
Total revenueC+E=G$1,790 $1,731 $1,747 $1,811 $1,857 $59 3.4 %$(67)(3.6)%
Adjusted total revenue (non-GAAP)C+F=H$1,868 $1,781 $1,797 $1,812 $1,858 $87 4.9 %$10 0.5 %
Total revenue, taxable-equivalent basisD+E=I$1,802 $1,743 $1,760 $1,824 $1,870 $59 3.4 %$(68)(3.6)%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,880 $1,793 $1,810 $1,825 $1,871 $87 4.9 %$9 0.5 %
Efficiency ratio (GAAP) (2)
A/I59.3 %57.6 %64.3 %65.0 %58.5 %
Adjusted efficiency ratio (non-GAAP) (2)
B/J56.9 %57.6 %60.6 %56.9 %58.2 %
Fee income ratio (GAAP) (2)
E/I31.7 %31.3 %32.0 %31.8 %30.3 %
Adjusted fee income ratio (non-GAAP) (2)
F/J34.6 %33.2 %33.9 %31.8 %30.3 %
________
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.






16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third 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)
Nine Months Ended September 30
($ amounts in millions)202420232024 vs. 2023
Non-interest expense (GAAP)A$3,204 $3,231 $(27)(0.8)%
Adjustments:
FDIC insurance special assessment(18)— (18)NM
Branch consolidation, property and equipment charges(2)(4)2 50.0 %
Salaries and employee benefits—severance charges(20)(3)(17)NM
Professional, legal and regulatory expenses (3)— (3)NM
Other miscellaneous expenses (1)
$37 $— 37 NM
Adjusted non-interest expense (non-GAAP)B$3,198 $3,224 $(26)(0.8)%
Net interest income (GAAP) C$3,588 $4,089 $(501)(12.3)%
Taxable-equivalent adjustment37 38 (1)(2.6)%
Net interest income, taxable-equivalent basisD$3,625 $4,127 $(502)(12.2)%
Non-interest income (GAAP)E$1,680 $1,676 $4 0.2 %
Adjustments:
Securities (gains) losses, net178 3 175 NM
Leveraged lease termination gains— (1)1 100.0 %
Adjusted non-interest income (non-GAAP)F$1,858 $1,678 $180 10.7 %
Total revenueC+E= G$5,268 $5,765 $(497)(8.6)%
Adjusted total revenue (non-GAAP)C+F=H$5,446 $5,767 $(321)(5.6)%
Total revenue, taxable-equivalent basisD+E=I$5,305 $5,803 $(498)(8.6)%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$5,483 $5,805 $(322)(5.5)%
Operating leverage ratio (GAAP) (2)
I-A(7.7)%
Adjusted operating leverage ratio (non-GAAP) (2)
J-B(4.7)%
Efficiency ratio (GAAP) (2)
A/I60.4 %55.7 %
Adjusted efficiency ratio (non-GAAP) (2)
B/J58.3 %55.5 %
Fee income ratio (GAAP) (2)
E/I31.7 %28.9 %
Adjusted fee income ratio (non-GAAP) (2)
F/J33.9 %28.9 %
______
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.





17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Return Ratios

The table below provides a calculation of “return on average tangible common shareholders’ equity” (non-GAAP). 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 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)9/30/20246/30/20243/31/202412/31/20239/30/2023
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY*
Net income available to common shareholders (GAAP)A$446 $477 $343 $367 $465 
Average shareholders' equity (GAAP)$18,047 $16,713 $17,121 $16,274 $16,468 
Less:
Average intangible assets (GAAP)5,916 5,925 5,934 5,944 5,955 
Average deferred tax liability related to intangibles (GAAP) (120)(115)(113)(109)(106)
Average preferred stock (GAAP)1,741 1,659 1,659 1,659 1,659 
Average tangible common shareholders' equity (non-GAAP)B$10,510 $9,244 $9,641 $8,780 $8,960 
Less: Average AOCI, after tax(2,448)(3,525)(3,113)(3,925)(3,684)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)C$12,958 $12,769 $12,754 $12,705 $12,644 
Return on average tangible common shareholders' equity (non-GAAP) (1)
A/B16.87 %20.75 %14.31 %16.57 %20.58 %
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)
A/C13.69 %15.02 %10.81 %11.45 %14.58 %
____
*Annualized
(1)Amounts have been calculated using whole dollar values.
Tangible Common Ratios
The following table provides a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP) and the calculations of the end of period “tangible common shareholders’ equity to tangible assets” and "tangible common book value per share" ratios (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
As of and for Quarter Ended
($ amounts in millions, except per share data)9/30/20246/30/20243/31/202412/31/20239/30/2023
TANGIBLE COMMON RATIOS
Shareholders’ equity (GAAP)A$18,676 $17,169 $17,044 $17,429 $16,100 
Less:
Preferred stock (GAAP)1,715 1,659 1,659 1,659 1,659 
Intangible assets (GAAP)5,911 5,920 5,929 5,938 5,949 
Deferred tax liability related to intangibles (GAAP)(122)(119)(114)(112)(108)
Tangible common shareholders’ equity (non-GAAP)B$11,172 $9,709 $9,570 $9,944 $8,600 
Total assets (GAAP)C$157,426 $154,052 $154,909 $152,194 $153,624 
Less:
Intangible assets (GAAP)5,911 5,920 5,929 5,938 5,949 
Deferred tax liability related to intangibles (GAAP)(122)(119)(114)(112)(108)
Tangible assets (non-GAAP)D$151,637 $148,251 $149,094 $146,368 $147,783 
Shares outstanding—end of quarterE911 915 918 924 939 
Total equity to total assets (GAAP) (1)
A/C11.86 %11.14 %11.00 %11.45 %10.48 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
B/D7.37 %6.55 %6.42 %6.79 %5.82 %
Tangible common book value per share (non-GAAP) (1)
B/E$12.26 $10.61 $10.42 $10.77 $9.16 
____
(1)Amounts have been calculated using whole dollar values.
18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023
Components:
Beginning allowance for loan losses (ALL)$1,621 $1,617 $1,576 $1,547 $1,472 
Loans charged-off:
Commercial and industrial70 60 62 41 53 
Commercial real estate mortgage—owner-occupied1 1 — 1 1 
Commercial real estate construction—owner-occupied— — — — — 
Total commercial71 61 62 42 54 
Commercial investor real estate mortgage12 — 5 — — 
Total investor real estate12 — 5 — — 
Residential first mortgage— — 1 — — 
Home equity—lines of credit1 1 1 — 1 
Home equity—closed-end— — — — 1 
Consumer credit card16 15 16 14 14 
Other consumer—exit portfolios (1)
— — 1 39 3 
Other consumer43 46 55 54 51 
Total consumer60 62 74 107 70 
Total143 123 141 149 124 
Recoveries of loans previously charged-off:
Commercial and industrial15 8 8 7 12 
Commercial real estate mortgage—owner-occupied— 1 — 1 1 
Commercial real estate construction—owner-occupied— 1 — — — 
Total commercial15 10 8 8 13 
Commercial investor real estate mortgage— 1 1 — — 
Total investor real estate— 1 1 — — 
Residential first mortgage1 1 1 — — 
Home equity—lines of credit1 2 2 1 1 
Home equity—closed-end— — — — 1 
Consumer credit card3 1 2 2 3 
Other consumer—exit portfolios— — 1 1 — 
Other consumer6 7 5 5 5 
Total consumer11 11 11 9 10 
Total26 22 20 17 23 
Net charge-offs (recoveries):
Commercial and industrial55 52 54 34 41 
Commercial real estate mortgage—owner-occupied1 — — — — 
Commercial real estate construction—owner-occupied— (1)— — — 
Total commercial56 51 54 34 41 
Commercial investor real estate mortgage12 (1)4 — — 
Total investor real estate12 (1)4 — — 
Residential first mortgage(1)(1)— — — 
Home equity—lines of credit— (1)(1)(1)— 
Home equity—closed-end— — — — — 
Consumer credit card13 14 14 12 11 
Other consumer—exit portfolios— — — 38 3 
Other consumer37 39 50 49 46 
Total consumer49 51 63 98 60 
Total117 101 121 132 101 
Provision for loan losses (1)
103 105 162 161 135 
Ending allowance for loan losses (ALL)1,607 1,621 1,617 1,576 1,547 
Beginning reserve for unfunded credit commitments111 114 124 130 120 
Provision for (benefit from) unfunded credit losses10 (3)(10)(6)10 
Ending reserve for unfunded commitments121 111 114 124 130 
Allowance for credit losses (ACL) at period end$1,728 $1,732 $1,731 $1,700 $1,677 
19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023
Net loan charge-offs as a % of average loans, annualized (2):
Commercial and industrial0.44 %0.42 %0.43 %0.26 %0.31 %
Commercial real estate mortgage—owner-occupied0.09 %(0.03)%0.02 %(0.02)%0.04 %
Commercial real estate construction—owner-occupied(0.01)%(0.65)%(0.01)%(0.01)%(0.01)%
Total commercial0.41 %0.37 %0.40 %0.24 %0.29 %
Commercial investor real estate mortgage0.71 %(0.01)%0.21 %(0.01)%(0.01)%
Commercial investor real estate construction(0.01)%— %— %— %— %
Total investor real estate0.52 %— %0.15 %(0.01)%— %
Residential first mortgage(0.01)%(0.01)%(0.01)%— %— %
Home equity—lines of credit(0.08)%(0.13)%(0.10)%(0.05)%(0.07)%
Home equity—closed-end(0.01)%(0.02)%(0.02)%(0.02)%(0.02)%
Consumer credit card3.84 %4.00 %4.39 %3.98 %3.48 %
Other consumer—exit portfolios (1)
(0.67)%(5.01)%(4.03)%135.63 %3.14 %
Other consumer2.37 %2.57 %3.24 %3.13 %2.99 %
Total consumer0.58 %0.61 %0.76 %1.18 %0.71 %
Total0.48 %0.42 %0.50 %0.54 %0.40 %
Non-performing loans, excluding loans held for sale$821 $847 $906 $805 $642 
Non-performing loans held for sale7 — 3 3 2 
Non-performing loans, including loans held for sale828 847 909 808 644 
Foreclosed properties17 15 13 15 15 
Non-performing assets (NPAs)$845 $862 $922 $823 $659 
Loans past due > 90 days (3)
$183 $167 $147 $171 $140 
Criticized loans—business (4)
$4,692 $4,863 $4,978 $4,659 $4,167 
Credit Ratios (2):
ACL/Loans, net1.79 %1.78 %1.79 %1.73 %1.70 %
ALL/Loans, net1.66 %1.66 %1.67 %1.60 %1.56 %
Allowance for credit losses to non-performing loans, excluding loans held for sale210 %204 %191 %211 %261 %
Allowance for loan losses to non-performing loans, excluding loans held for sale196 %191 %179 %196 %241 %
Non-performing loans, excluding loans held for sale/Loans, net0.85 %0.87 %0.94 %0.82 %0.65 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.87 %0.88 %0.95 %0.84 %0.67 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (3)
1.06 %1.06 %1.10 %1.01 %0.81 %
(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 $8 million associated with the sale.
(2)Amounts have been calculated using whole dollar values.
(3)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 21 for amounts related to these loans.
(4)Business represents the combined total of commercial and investor real estate loans.
Allowance for Credit Losses
Nine Months Ended September 30
($ amounts in millions)20242023
Balance at January 1, as adjusted for change in accounting guidance$1,700 $1,544 
Net charge-offs339 265 
Provision for loan losses370 386 
Provision for unfunded credit losses(3)12 
Balance at end of year$1,728 $1,677 
Net loan charge-offs as a % of average loans, annualized (GAAP) (1)
0.47 %0.36 %
____
(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 Ended
($ amounts in millions)9/30/20246/30/20243/31/202412/31/20239/30/2023
Net loan charge-offs (GAAP)$117 $101 $121 $132 $101 
Less: charge-offs associated with the sale of loans— — — 35 — 
Adjusted net loan charge-offs (non-GAAP)$117 $101 $121 $97 $101 
Net loan charge-offs as a % of average loans, annualized (GAAP) (1)
0.48 %0.42 %0.50 %0.54 %0.40 %
Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) (1)
0.48 %0.42 %0.50 %0.39 %0.40 %
______
(1)     Amounts have been calculated using whole dollar values.
20
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
Non-Performing Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)9/30/20246/30/20243/31/202412/31/20239/30/2023
Commercial and industrial$430 0.87 %$423 0.84 %$556 1.12 %$471 0.93 %$361 0.70 %
Commercial real estate mortgage—owner-occupied43 0.88 %43 0.90 %40 0.83 %36 0.74 %43 0.90 %
Commercial real estate construction—owner-occupied6 1.75 %9 2.34 %10 3.42 %8 3.12 %10 3.50 %
Total commercial479 0.87 %475 0.86 %606 1.11 %515 0.92 %414 0.73 %
Commercial investor real estate mortgage287 4.38 %317 4.85 %241 3.76 %233 3.53 %169 2.63 %
Total investor real estate287 3.26 %317 3.58 %241 2.75 %233 2.63 %169 1.94 %
Residential first mortgage23 0.11 %22 0.11 %22 0.11 %22 0.11 %24 0.12 %
Home equity—lines of credit26 0.85 %27 0.88 %31 0.97 %29 0.89 %29 0.91 %
Home equity—closed-end6 0.24 %6 0.23 %6 0.24 %6 0.23 %6 0.23 %
Total consumer55 0.17 %55 0.17 %59 0.18 %57 0.17 %59 0.18 %
Total non-performing loans$821 0.85 %$847 0.87 %$906 0.94 %$805 0.82 %$642 0.65 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)9/30/20246/30/20243/31/202412/31/20239/30/2023
Commercial and industrial $82 0.16 %$56 0.11 %$55 0.11 %$64 0.12 %$52 0.10 %
Commercial real estate mortgage—owner-occupied4 0.09 %4 0.09 %8 0.17 %5 0.10 %7 0.14 %
Commercial real estate construction—owner-occupied— 0.10 %— — %1 0.18 %1 0.48 %— — %
Total commercial86 0.16 %60 0.11 %64 0.12 %70 0.12 %59 0.10 %
Commercial investor real estate mortgage45 0.70 %10 0.16 %— — %— — %115 1.78 %
Total investor real estate45 0.52 %10 0.12 %— — %— — %115 1.31 %
Residential first mortgage—non-guaranteed (1)
115 0.58 %109 0.55 %105 0.53 %106 0.53 %95 0.48 %
Home equity—lines of credit24 0.77 %23 0.75 %28 0.89 %27 0.84 %33 1.02 %
Home equity—closed-end 12 0.50 %13 0.51 %13 0.54 %14 0.57 %11 0.46 %
Consumer credit card19 1.36 %18 1.34 %18 1.35 %19 1.43 %18 1.43 %
Other consumer—exit portfolios1 9.52 %2 8.16 %2 5.61 %3 5.86 %6 1.71 %
Other consumer67 1.08 %65 1.06 %70 1.13 %91 1.47 %80 1.30 %
Total consumer (1)
238 0.72 %230 0.84 %236 0.84 %260 0.92 %243 0.85 %
Total accruing 30-89 days past due loans (1)
$369 0.38 %$300 0.31 %$300 0.31 %$330 0.34 %$417 0.42 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)9/30/20246/30/20243/31/202412/31/20239/30/2023
Commercial and industrial$3 0.01 %$6 0.01 %$7 0.01 %$11 0.02 %$13 0.02 %
Commercial real estate mortgage—owner-occupied1 0.02 %1 0.03 %— 0.01 %— 0.01 %1 0.01 %
Total commercial4 0.01 %7 0.01 %7 0.01 %11 0.02 %14 0.02 %
Commercial investor real estate mortgage40 0.60 %23 0.35 %— — %23 0.35 %— — %
Total investor real estate40 0.45 %23 0.26 %— — %23 0.26 %— — %
Residential first mortgage—non-guaranteed (2)
75 0.38 %73 0.37 %69 0.35 %61 0.31 %58 0.30 %
Home equity—lines of credit16 0.52 %18 0.56 %19 0.60 %20 0.62 %16 0.49 %
Home equity—closed-end 7 0.27 %6 0.26 %7 0.29 %7 0.30 %7 0.29 %
Consumer credit card19 1.40 %18 1.36 %19 1.42 %20 1.45 %17 1.37 %
Other consumer—exit portfolios— 2.22 %— 1.42 %— 1.08 %— 0.81 %1 0.18 %
Other consumer22 0.36 %21 0.34 %26 0.42 %29 0.46 %27 0.44 %
Total consumer (2)
139 0.43 %136 0.53 %140 0.55 %137 0.51 %126 0.45 %
Total accruing 90+ days past due loans (2)
$183 0.19 %$166 0.17 %$147 0.15 %$171 0.17 %$140 0.14 %
Total delinquencies (1) (2)
$552 0.57 %$466 0.48 %$447 0.46 %$501 0.51 %$557 0.57 %
(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 $52 million at 9/30/2024, $50 million at 6/30/2024, $45 million at 3/31/2024, $46 million at 12/31/2023, and $43 million at 9/30/2023.
(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 $46 million at 9/30/2024, $40 million at 6/30/2024, $44 million at 3/31/2024, $34 million at 12/31/2023, and $23 million at 9/30/2023.
21
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third 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.
•Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•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.
•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.
•Political uncertainty in the United States, including uncertainty around elections, could directly or indirectly impact 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
22
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Third Quarter 2024 Earnings Release
misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.
•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.
23
3rd Quarter Earnings October 18, 2024 Exhibit 99.3

 
2 Third Quarter Overview Continue to deliver consistent, sustainable long-term performance (1) Non-GAAP, see appendix for reconciliation. Key Performance Metrics 3Q24 Reported Adjusted(1) Net Income Available to Common Shareholders $446M Diluted Earnings Per Share $0.49 Total Revenue $1.8B $1.9B Non-Interest Expense $1.1B $1.1B Pre-Tax Pre-Provision Income(1) $721M $799M Efficiency Ratio 59.3% 56.9% Net-Charge Offs / Avg Loans 0.48% 0.48% • Consistently generating top-quartile returns in our peer group • Continued focus on disciplined capital allocation and risk-adjusted returns • Benefiting from loyal customer base, attractive footprint & diverse balance sheet with solid capital, robust liquidity and prudent credit risk management • Proactive hedging strategies position Regions for success in an array of economic conditions • Delivering consistent, sustainable, long- term performance while remaining focused on soundness, profitability, & growth Highlights

 
3 $98.9 $97.5 $96.8 $65.4 $64.2 $63.6 $33.5 $33.3 $33.2 3Q23 2Q24 3Q24 $98.8 $97.3 $97.0 $65.4 $64.0 $63.8 $33.4 $33.3 $33.2 3Q23 2Q24 3Q24 Average Loans & Leases ($ in billions) Business LoansConsumer Loans Ending Loans & Leases ($ in billions) Loans • Avg loans remained stable while ending loans declined slightly • Avg business loans remained stable; • Pipelines are expected to remain soft as customers continue to seek more certainty; Customers carrying more liquidity & utilization rates remain below historic levels • Avg consumer loans remained stable as modest growth in credit card was offset by declines in other categories • Expect 2024 average loan balances to be stable to down modestly compared to 2023 QoQ Highlights & Outlook

 
4 $126.2 $126.6 $126.4 $81.0 $80.1 $78.9 $34.6 $36.5 $37.0 $7.8 $7.4 $7.5 $2.8 $2.6 $3.0 3Q23 2Q24 3Q24 $125.2 $126.9 $126.0 $80.0 $79.8 $78.9 $34.9 $36.7 $36.9 $7.5 $7.5 $7.4 $2.8 $2.9 $2.8 1.16% 1.59% 1.60% 3Q23 2Q24 3Q24 (1) Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits). (2) IB deposit costs were 2.34%, 2.34%, and 1.81% in 3Q24, 2Q24, and 3Q23, respectively. • Ending deposits were stable; Average deposits decreased ~1% reflecting consumer seasonal spending patterns • Competitive rates declined in advance of Fed rate cut and customer demand for CDs softened further slowing rate seeking behavior • Deposit remixing has slowed; NIB mix has remained steady in the low 30% range • Competitive pricing and customer demand for promotional products remain stable • Expect 2024 average deposits to be stable to down modestly compared to 2023 Average Deposits by Segment ($ in billions) Deposits Deposit trends are stabilizing QoQ Highlights & Outlook Wealth Mgt Other(1) Consumer Bank Corporate Bank Ending Deposits by Segment ($ in billions) Total Deposit Costs (2)

 
5 Less Hedge Notional (1) Market rate impacts include contractual loan, cash and borrowings repricing; fixed asset turnover at higher market rates; securities premium amortization net discount accretion $6M better vs 2Q at $5M. (2) Other mostly from one additional day in quarter, debt/securities additions, and higher average cash balance (negative impact on NIM). (3) Excludes $3M securities loss taken in HR related account. (4) Expectations assume stable or lower short-term interest rates; flat long-term rates at 09/30/2024 levels. Market Rates(1) • NII +3% QoQ; NIM increased 3 bps to 3.54% • Elevated long-term interest rates increase new production fixed-rate asset yields • Sold $1.3B securities at $75M pre-tax loss(3); Reinvested proceeds at higher market yields (see appendix for comprehensive repositioning details) • Slowing deposit remixing and stable pricing • 3Q deposit cost = 1.60% • 3Q interest-bearing deposit cost = 2.34% (43% full- cycle interest-bearing beta) $1,186 $1,218 3Q24 2Q24 +2bps -2bps+6bps +$6M -$8M+$21MNII NIM NII & Margin Performance NII growth expected to continue following post-pandemic normalization Days/ Other(2) +$6M -5bps $1,304 $1,198 $1,230 3.73% 3.51% 3.54% 3Q23 2Q24 3Q24 NII Range and Assumptions for 2024(4) NII NIM Deposit Cost/Mix +$32M +3bps Securities Reposition FTE NII and NIM ($ in millions) NII Attribution ($ in millions) Drivers of NII and NIM • NII to grow going forward, with asset turnover at elevated rate levels being the primary driver ◦ 4Q24 NII expected to grow modestly vs 3Q24 ◦ 2024 NII expected to be ~$4.8B; at the upper end of the original range • Project near-term mid-30% falling rate interest bearing deposit beta to protect NII from FOMC rate reductions • 2024 NIM expected to be low 3.50%'s +2bps +$7M

 
6 $567 $595 $650 3Q23 2Q24 3Q24 ($ in millions) Change vs 3Q24 2Q24 3Q23 Service charges $158 4.6% 11.3% Card and ATM fees 118 (1.7)% (6.3)% Wealth management income 128 4.9% 14.3% Capital markets (Ex CVA/DVA) 93 32.9% 38.8% Mortgage income 36 5.9% 28.6% Non-Interest Income (1) Non-GAAP; see appendix for reconciliation. • NIR increased ~5% on a reported basis and included $75M pre-tax loss on securities repositioning in 3Q; NIR increased ~9% on an adjusted(1) basis • Service charges increased ~5% primarily driven by treasury management semi-annual fees as well as the benefit of 1 additional business day • Wealth Management increased ~5% generating record quarterly revenue reflecting increased sales activity and continued strength in financial markets • Capital markets income increased ~35%; Ex. CVA/DVA increased ~33% benefiting from M&A advisory fees and elevated securities underwriting and placement fees driven by market stabilization ◦ Expect 4Q Capital Markets to be ~$80-$90M • Other NIR increased ~23% driven by $6M in gains from the sale of low income housing tax credit investments • Expect full-year 2024 adjusted non-interest income to be $2.45-$2.5B $566 $545 $572 3Q23 2Q24 3Q24 Non-Interest Income ($ in millions) Adj. Non-Interest Income(1) ($ in millions) QoQ Highlights & Outlook

 
7 $1,093 $1,004 $1,069 58.5% 57.6% 59.3% Non-interest expense Efficiency ratio 3Q23 2Q24 3Q24 $1,089 $1,032 $1,069 $53 $— 58.2% 57.6% 56.9% Adjusted non-interest expense Incremental operational losses Adjusted efficiency ratio 3Q23 2Q24 3Q24 • NIE increased ~6% on a reported basis as 3Q adjusted items offset, but 2Q included a $37M contingent reserve release related to a prior acquisition which did not repeat; NIE increased ~4% on an adjusted basis(1) driven primarily by higher salaries & benefits • Salaries & benefits increased ~6% driven by 1 additional day in the quarter, increased performance- based incentives and impact of HR related asset valuations • Recognized $14M of expense associated with Visa's ongoing litigation escrow related to Visa class B shares in 3Q • Committed to prudent expense management, focusing on largest categories - S&B, occupancy and vendor spend • Expect full-year 2024 adjusted NIE to be ~$4.25B; Expect full-year 2024 operational losses to be ~100M(4) Non-Interest Expense (1) (1) Non-Interest Expense ($ in millions) Adj. Non-Interest Expense(1) ($ in millions) QoQ Highlights & Outlook $3,387 $3,419 $3,434 $3,443 $3,541 $3,698 $3,886 $4,262 $135 Adjusted non-interest expense Incremental operational losses Include expenses associated with acquisitions 2016 2017 2018 2019 2020 2021 2022 2023 3.3% CAGR Adj. Non-Interest Expense(1)(2) ($ in millions) (1) (3) (1) Non-GAAP; see appendix for reconciliation. (2) Excluding incremental operational losses in 2023, CAGR would be 2.9%. (3) 2Q20 acquisition of Ascentium Capital and 4Q21 acquisitions of EnerBank, Sabal Capital Partners, and ClearSight Advisors. (4) Included in 2024 FY adjusted NIE guidance.

 
8 • 3Q annualized NCOs totaled 48 bps, increasing 6 bps on a reported basis driven by a large information credit and one office credit, which were fully reserved for • 3Q ACL increased 1 bp reflecting some deterioration in economic forecast and modest net risk rating downgrades, offset by reductions in qualitative adjustments and decreases in specific reserve borrowers due to charge-offs; Shared National Credit Exam results have also been incorporated ◦ ACL on Office Portfolio increased to 6.8%; Remain confident about composition of Office Portfolio • Expect full-year 2024 NCOs to be towards the upper end of 40-50 bps range attributable to a few large credits within previously identified portfolios of interest Asset Quality Customers remain healthy - Credit Metrics stabilizing $1,677 $1,732 $1,728 1.70% 1.78% 1.79% 261% 204% 210% ACL ACL/Loans ACL/NPLs 3Q23 2Q24 3Q24 $101 $101 $117 0.40% 0.42% 0.48% Net Charge-Offs Net Charge-Offs Ratio 3Q23 2Q24 3Q24 $642 $847 $821 0.65% 0.87% 0.85% NPLs - excluding LHFS NPL/Loans 3Q23 2Q24 3Q24 (1) $ in Millions. Net Charge-Offs(1) Allowance for Credit Losses (ACL)(1) Non-Performing Loans (NPLs)(1) QoQ Highlights & Outlook

 
9 • Declared 3Q common dividends of $229M and executed $101M in share repurchases • Anticipate continuing to manage CET1 consistent with current levels over the near term • Tangible common book value per share(4) of $12.26, a 15.6% increase QoQ and a 33.8% increase YoY • Issued $500M of Series F non-cumulative perpetual preferred stock on 7/29/24; used proceeds to redeem $500M of Series B preferred stock on 9/16/24 • Total Liquidity Sources well above required levels as informed by internal liquidity stress testing. Fed cash likely to remain relatively stable at these levels. • Including capacity at the discount window, liquidity to uninsured deposits ratio is ~180%(5) 10.3% 10.4% 10.6% 3Q23 2Q24 3Q24 Capital and Liquidity 11.6% 11.7% 11.9% 3Q23 2Q24 3Q24 Tier 1 Capital Ratio(1) Common Equity Tier 1 Ratio(1) Position ($B) as of 2Q24 3Q24 Cash at the Federal Reserve(2) $ 5.6 $ 7.8 Unencumbered Investment Securities(3) 22.3 25.2 Federal Home Loan Bank Availability 9.4 8.3 Discount Window Availability 19.5 20.9 Total $ 56.8 $ 62.2 (1) Current quarter ratios are estimated. (2) Fed master account closing balance only. Does not include other small in transit / processing items included in Call Report or SEC reports. (3) Unencumbered Investment Securities comprise securities that are eligible as collateral for secured transactions through market channels or are eligible to be pledged to the Federal Home Loan Bank, the Federal Reserve Discount Window, or the Standing Repo Facility. (4) Non-GAAP; see appendix for reconciliation. (5) This ratio excludes intercompany and secured deposits. Total Liquidity Sources QoQ Highlights & Outlook

 
10 Common Equity Tier 1 10.3% 10.3% 10.4% 10.6% 8.3% 8.2% 8.2% 9.1% Reported CET1 Ratio Adjusted CET1 Inclusive of AOCI Operating Range 4Q23 1Q24 2Q24 3Q24 CET1 Under Basel III Endgame Basel III Endgame Update • Basel III Endgame has yet to be finalized but expect AOCI to be included in Regulatory Capital • Reduction in interest rates along with actively managing the AFS securities duration in the mid-4 years drove meaningful improvement in AOCI ◦ CET1 adjusted to include AOCI at 9/30 improved 90 bps to an estimated 9.1%(2) ◦ Assuming stable rates, could achieve 9.25 - 9.75% Operating Range in 1-2 quarters; Creates meaningful flexibility Volatility Management • Reclassified ~$2.5B of Available-for-Sale securities into Held-to-Maturity late in the quarter to reduce volatility • Over time, we will consider additional action to further manage AOCI volatility: ◦ Held-to-Maturity ◦ Derivative Hedging ◦ Asset Selection Operating Range | 9.25% - 9.75% (1) (1) Current quarter ratio is estimated. (2) Non-GAAP; see appendix for reconciliation. (2)

 
11 2024 Expectations (1) Non-GAAP, see appendix for reconciliation. (2) The reconciliation with respect to forward-looking non-GAAP measures is expected to be consistent with actual non-GAAP reconciliations included in the attached appendix or in previous filings with the SEC. (3) Expectations assume stable or lower short-term interest rates; flat long-term rates at 09/30/2024 levels. FY 2024 Expectations Net Interest Income (vs. 2023 of $5,320)(3) ~$4.8B Adjusted Non-Interest Income (vs. adjusted 2023 of $2,259)(1)(2) $2.45-$2.5B Adjusted Non-Interest Expense (vs. adjusted 2023 of $4,262)(1)(2) ~$4.25B Average Loans (vs. 2023 of $98,239) stable to down modestly Average Deposits (vs. 2023 of $126,543) stable to down modestly Net Charge-Offs / Average Loans 40-50 bps (expect to be toward the upper end) Effective Tax Rate ~20% Expectations for 4Q24 & Beyond(3) • NII to grow going forward, with asset turnover at elevated rate levels being the primary driver ◦ 4Q24 NII expected to grow modestly vs 3Q24 • 2024 NIM expected to be low 3.50%'s • Expect 4Q Capital Markets to be ~$80-$90M • Anticipate continuing to manage CET1 consistent with current levels over the near term

 
Appendix

 
13 Selected Items Impact Third Quarter 2024 Highlights (1) Non-GAAP, see appendix for reconciliation. (2) Based on income taxes at an approximate 25% incremental rate. (3) 3Q24 amount includes $15M of Series B preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed. ($ amounts in millions, except per share data) 3Q24 QoQ Change YoY Change Net interest income $ 1,218 2.7% (5.7)% Provision for (benefit from) credit losses 113 10.8% (22.1)% Non-interest income 572 5.0% 1.1% Non-interest expense 1,069 6.5% (2.2)% Income before income taxes 608 (2.7)% (1.8)% Income tax expense 118 (4.8)% (8.5)% Net income 490 (2.2)% —% Preferred dividends 44 83.3% 76.0% Net income available to common shareholders $ 446 (6.5)% (4.1)% Diluted EPS $ 0.49 (5.8)% —% Summary of Third Quarter Results (amounts in millions, except per share data) 3Q24 Pre-tax adjusted items(1): Securities gains (losses), net $ (78) FDIC insurance special assesment 4 Salary and employee benefits—severance charges (3) Professional, legal and regulatory expenses (1) Total pre-tax adjusted items(1) $ (78) After-tax preferred stock redemption expense(3) $ (15) Diluted EPS impact(2) $ (0.08)

 
14 2.39 2.55 2.61 3Q22 3Q23 3Q24 3.20 4.14 4.78 3Q22 3Q23 3Q24 156 180 190 3Q22 3Q23 3Q24 21.7% 22.9% 23.9% 32.5% 32.3% 31.6% 45.8% 44.8% 44.5% 3Q22 3Q23 3Q24 2.4 5.1 4.8 3Q22 3Q23 3Q24 71% 74% 75% 29% 26% 25% 3Q22 3Q23 3Q24 Growth in Digital Mobile Banking Log-Ins (Millions) Customer Transactions(2)(3) Deposit Transactions by Channel Mobile Banking Active Users (Millions)(1) Digital Credit Card Sales (Accounts in Thousands) (5) Digital Non- Digital Mobile ATMBranch +49% +22% 23% 32% 20% 75% 66% 79% 2% 2% 1% 3Q22 3Q23 3Q24 Digital Branch Contact Center Consumer Checking Sales by Channel(4) Customer Satisfaction Zelle Transactions (Millions)Sales & TransactionsDigital Usage +9% (1) Total number of unique customers who have successfully authenticated and logged into the mobile app at least once within the last 90 days. (2) Digital transactions represent online and mobile only; Non-digital transactions represent branches, contact centers and ATMs. (3) Transactions represent Consumer customer deposits, transfers, mobile deposits, fee refunds, withdrawals, payments, official checks, bill payments, and Western Union. Excludes ACH and Debit Card purchases/refunds. (4) Includes cross-channel sales capabilities through digital banker dashboard applications. Additional fraud controls in digital channels placed in 4Q23. (5) Includes digital and pre-approved credit card accounts opened. (6) J.D. Power 2024 U.S. Banking Online Satisfaction Study; among banks with $70B to $200B in deposits, which measures customer satisfaction with financial institutions’ website experience for banking account management. Visit jdpower.com/awards for more details. +101% Mobile App Online Banking(6) #1 in Customer Satisfaction for Regional Bank Online Experiences for four of the past five years Average 4.8 out of 5 rating from iOS app store users

 
15 (1) Represents increase from August '23 to August '24. (2) Total Wealth Management Relationships as of August '23 from August '24. Investments in Our Businesses Investments in talent, technology and strategic acquisitions continue to pay off • Real Estate Capital Markets small balance originations increased in 3Q24 contributing to another strong quarter • Clearsight & BlackArch acquisitions 3Q24 revenue significantly increased vs 2Q24 with a robust pipeline entering 4Q24 • Ascentium Capital portfolio has grown 35% since acquisition; contributing to growth are transactions originated through cross-marketing relationships with the Commercial Bank & Branch network • Recently launched new cash management client tools CashFlowIQ and CashFlow Advisor delivering digital cash capabilities to small- and mid-size businesses • Commitment to continuous innovation & cashflow centric conversations contributed to a 5% increase(1) in relationships with Treasury Management Solutions Corporate • 1st in VISA Power Score for 42 consecutive quarters on Debit • Mobile app improvements: Digital wallet, Zelle enhancements for consumer and business customers; 3Q24 mobile users increased 3% YoY • Developing omni-channel servicing capabilities with Customer Engagement Platform • Recruiting Mortgage Producers in key growth markets • Launched financial education workshops on campuses near Regions branches • Introduced Nashville Predators branded cards offering unique benefits for Predators fans • Continue to grow primary consumer checking relationships & deepen customer relationships • Raising the bar on industry leading Customer Satisfaction Consumer • Record 3Q24 NIR, up 14% vs 3Q23 • Relationship growth of 8.7%(2) • Client Satisfaction, 4.74/5 for Institutional Services • Engaged select clients for feedback as part of Mobile NEXT initiative to enhance mobile banking offerings to align with Wealth client needs • Redesigned pages on Regions.com, improving user experience, nurture leads awareness, e.g. Wealth Management for Women • Protecting our clients through fraud education, including in-person events and webinars • Data insights and our advanced CRM platform, have fueled leads for Financial Advisors, driving deeper customer engagement and increased revenue Wealth

 
16 $49 $7 $(19) $(4) $3 5.43% 5.00% 2.34% 2.20% Fed Funds RF IB Deposit Cost Peer Median 4Q21 1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 (a vg) 3Q24 (e nd) —% 1.00% 2.00% 3.00% 4.00% 5.00% 6.00% Through hedging, managed NII sensitivity to be mostly neutral to changes in interest rates late in the cycle • Sensitivity to short-term rates: Given mostly neutral position, more or less fed funds cuts will not be a material driver of NII variability • Key Assumption: Deposit Costs/Beta Need mid-30%s falling rate interest-bearing deposit beta to fully protect NII from fed funds cuts; potential to outperform over longer horizon assuming falling-rate deposit beta more consistent with that observed during rising rate cycle • Sensitivity to middle/long-term rates: Remain modestly asset sensitive due to $12-14B in fixed rate loan production & securities reinvestment per year NII Positioning for Falling Rates "Neutral" interest rate risk position; NII performance will depend mostly on deposit dynamics Interest-bearing Deposit Yields(1)NII Sensitivity to Interest Rates Floating Rate Balance Sheet Exposure(2) (1) Peers include CFG, CMA, FHN, FITB, HBAN, HWC, KEY, MTB, PNC, SNV, TFC, USB, ZION. (2) 4Q24 expected balance sheet; Exposure in $ billions Outperformed in rising rate cycle; have lowered deposit rates since Sept FOMC cut Adds Floating Rate Exposure Reduces Floating Rate Exposure Loans Cash $(30) Cash Flow Hedges Debt (incl. Hedges) IB Deposits x 35% Beta Hedges and deposit pricing (35% beta) offset contractual floating interest rate exposure Residual Exposure

 
17 Notional Fixed Rate Maturity AFS Securities(3) $1.8B 4.8% 0.6 years Debt(3) (4) $1.4B 0.6% 2.0 years 1 2 3 4 Cash Flow Hedge Notional(1) (1) Floating rate leg of swaps vs overnight SOFR. (2) Collars use short interest rate caps to pay for long interest rate floors; weighted avg. floor of 1.86%, weighted avg. cap of 6.22%. (3) Fair value hedges on securities pay fixed; fair value hedges on debt receive fixed. (4) Excludes forward-starting fair value swaps on Q2 & Q3 2024 debt issuances. (Quarterly Avg) 1 2 3 4 5 6 2.86% 2.92% 2.95% 3.03% 3.18% 3.49% 3.50% 2024 2025 2026 2027 2028 2029 2030 $19.9B $19.0B $16.9B $14.2B $9.1B $3.6B $3.0B - - +$0.3B +$0.5B +$0.9B +$1.3B +$1.3B $19.9B $19.0B $17.2B $14.7B $10.0B $4.9B $4.3B (Annual Avg) as of 9/30/2024 3Q24 4Q24 1Q25 2Q25 Swap Notional - 2Q24 $19.6B $19.0B $19.6B $18.4B 3Q24 Swap Changes - - - - Swap Notional - 3Q24 $19.6B $19.0B $19.6B $18.4B Swaps Swap Receive Rate(1) 2.85% 2.85% 2.91% $1.0B $2.0B $2.0B $2.0B $1.0B $0.0B $0.0BCollar Notional(2) $1.5B $1.5B $2.0B $2.0B Collars Hedging Strategy Update Creates mostly "neutral" interest rate risk position with well-protected margin Fair Value Swaps(1)3Q24 Activity Cash Flow Hedging - Hedges in place provide a well protected sensitivity profile in the near-term. Focused on adding protection in outer years • Added $1.25B in forward-starting receive-fixed swaps (3.22%) Fair Value Hedging • Added $1.20B in pay-fixed swaps (4.85%) maturing in 2024

 
18 • Portfolio constructed to protect against changes in market rates ◦ AFS+HTM duration of ~4.7 years as of 9/30/2024; provides offset to long- duration deposit book ◦ ~27% of securities in the portfolio are bullet-like (CMBS, corporate bonds, agency bullets, and USTs) ◦ MBS mix concentrated in less sensitive prepayment collateral types: lower loan balances, seasoning, and state-specific geographic concentrations • 97% US Government or Agency guaranteed ◦ ~$700M high quality, investment grade corporate bond portfolio is short-dated (<2.0 year duration) and well diversified across sectors and issuers ◦ The Agency CMBS portfolio is guaranteed by government agencies and is collateralized by mortgage loans on multifamily properties • 91% classified as Available-for-Sale; 9% classified as Held-to-Maturity • Transferred $2.5B of AFS securities into HTM • Sold ~$1.3B of AFS securities, realizing $75M(3) in pre-tax losses ◦ Proceeds were reinvested at higher current market yields; +2.6% above sales (~2.7yr payback) ◦ The portfolio mix, duration, and liquidity profile were largely unchanged (extended portfolio duration 0.2yrs) • Grew securities balance by roughly $1B in order to provide an economic balance sheet hedge and reduce the cost of September debt issuance • Reinvestment of paydowns/maturities was accretive to portfolio yield by ~1.6% (excludes reinvestment of sales proceeds and portfolio growth) (1) Includes AFS securities, the $1.4B unrealized AFS loss, and HTM securities as of 9/30/2024 (2)Estimated, current portfolio, market forward interest rates, and Risk Weighted Assets as of 9/30/2024. (3) Excludes $3M securities loss taken in HR related account Agency/UST 8% Agency MBS 73% Agency CMBS 17% Corporate Bonds 2% Securities Portfolio Provides downside rate protection/liquidity Securities Portfolio Composition(1) $31.5B Securities AOCI Burn Down and Impact to CET1(2) AO CI L os s ( $M ) Cum ulative CET1 Im pact $1,374 $1,316 $1,086 $874 0.05% 0.23% 0.40% AFS HTM Est. CET1 Impact 09/30/24 YE 2024 YE 2025 YE 2026 $— $250 $500 $750 $1,000 $1,250 —% 0.50% 3Q24 Activity

 
19(1) NII estimate and payback assumptions use Market Forwards as of trade completion dates. (2) Point in time impact; portfolio duration is naturally shortening and repositioning provides offset. Securities Portfolio - Repositioning Provides efficient use of capital/downside rate protection Rationale for Securities Repositioning Efficient Capital Use Portfolio Management Favorable Market • Superior returns vs alternatives (including share repurchases) • Capital neutral w/ full AOCI look through Annual NII Impact (1) ($ in Millions) $42 $70 $60 Q1 Q2 Q3 2024 2025 2026 • High absolute market rates and a steepening yield curve enhance attractiveness Execution $ Sold Losses Realized Purchase Yield - Sales Yield Payback Period (1) Duration Extension(2) Q1 2024 $1.3B $50M 1.9% 2.1yrs 0.15yrs Q2 2024 $980M $50M 2.4% 2.6yrs 0.07yrs Q3 2024 $1.3B $75M 2.6% 2.7yrs 0.18yrs Total $3.62B $175M 2.3% 2.5yrs 0.40yrs Repositioning Summary Multiple, distinct securities repositioning strategies occurred since the start of 2024 • Sold mostly shorter-duration agency CMBS ▪ Replaced with residential agency MBS with favorable prepayment protection/profiles and higher market yields ▪ Maintained 4.7yr duration on naturally shortening portfolio ◦ YE 2024 duration would have been <4.2yrs excluding repositioning and portfolio growth • Provides flexibility for relative value decision making • Replace short- duration bonds that provide little falling rate protection

 
20 4Q24 Projected Preferred Stock Expense Regions Preferred Par Value 3Q24A 4Q24E Series B $500.0 $23.0 $— Series C $500.0 $7.1 $7.1 Series D $350.0 $5.0 $5.0 Series E $400.0 $4.5 $4.5 Series F $500.0 $4.4 $8.7 Total $44.0 $25.3 • Series B shares were redeemed on 9/16/24 at Par; Upon redemption, $15M of related issuance costs was recorded as a reduction to net income available to common shareholders through preferred expense • The 3Q dividend for Series F which settled on 7/29/24, reflects a partial dividend payment period. The 4Q dividend reflects the expected quarterly run-rate

 
21 0.85% —% 0.50% 1.00% 1.50% 2.00% 2.50% 0.48% —% 0.50% 1.00% 1.50% 2.00% Historical Credit Profile Non-Performing Loans Total Net Charge-Offs 1Q20 3Q24 4Q221Q20 4Q22 3Q24 • Non-Accrual and loss rate levels are reverting to historical pre-pandemic ranges as expected Average Pre-Pandemic 0.46% Average Pandemic 0.35% Average Pre-Pandemic 1.07% Average Pandemic 0.64% 1Q13 1Q13

 
22 Portfolios of Interest • Regions continues to closely monitor and manage the higher risk and most rate sensitive parts of the portfolio • Recent and potential future rate cuts should ease pressure on borrowers across the portfolio • Enhanced quarterly credit servicing of these portfolios continues to occur with active portfolio management and dynamic rating determinations • No new loan originations are being contemplated in the Office portfolio • Limited new client activity in the senior housing sector for several years as the portfolio has recovered from lows of 2020-2021 • Continued focus on credit risk management of existing Trucking portfolio; maintaining proactive client outreach Key Portfolio Actions Taken Key Portfolio Metrics(1) Office Multi-Family Senior Housing(2) Trucking Commitments (CMT) $ $1,653 $6,701 $1,291 $1,862 Balances $ $1,555 $4,243 $1,126 $1,418 % of Total Loans 1.6% 4.4% 1.2% 1.5% Non-Performing Loans (NPL) $ $225 $0 $62 $61 NPL / Portfolio Loans 14.5% —% 5.5% 4.3% NPL Paying Current 33.9% —% 60.1% 59.4% Charge-off $ $9 $0 $8 $24 Charge-off / Loans 0.7% —% 0.9% 2.2% ACL / Loans 6.8% 1.8% 3.4% 4.4% Commitment Reduction from Peak(3) (50)% (8)% (18)% (14)% (1) $ in Millions. Loan commitments and outstanding balances are as of September 30, 2024. Charge-off data reflects results for the 9 months ended September 30, 2024, annualized, based on average balances. (2) Senior Housing represents the CRE portfolio and excludes ~$135M in non-real estate commercial loans in the Senior Housing sector. (3) Represents current reduction in commitments from peak exposure between 03/31/2021 and 09/30/2024.

 
23 Commercial Real Estate (Outstanding balances as of September 30, 2024) Highly Diversified Portfolio (IRE including Unsecured CRE) (1) Excludes $5.2B of Owner-occupied CRE whose source of repayment are individual businesses, and whose credit performance resembles Commercial during periods of stress. (2) Based off 06/30/2024 Risk Based Capital estimate. Supervisory limits in the December 2006 joint regulatory issuance "Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices". Res. Homebuilders 7.5% Other 1.7% Hotel 5.2% Healthcare 7.6% Retail 8.9% Residential Land 0.4% Office 10.1% Data Center 2.6% Diversified 12.1% Industrial 14.5% Commercial Land 0.1% Self Storage 1.8% Apartments 27.5% $15.4B $ in billions % of Total Loans Unsecured CRE (incl. REITS) $ 6.6 6.8 % IRE $ 8.8 9.1 % Total(1) $ 15.4 15.9 % Yearly Loan Maturities 2% 10% 28% 28% 21% 7% 4% Multi-Family Office Other Real Estate Total Real Estate Matured 2024 2025 2026 2027 2028 >5years $— $1,000 $2,000 $3,000 Office 4% Data Center 6% Diversified 18% Apartments 5% Hotel 12% Industrial 26%Other 3% Self Storage 5% Retail 21% REITs within Total: $5.0B • Unsecured loans for RE purposes generally have low leverage, with strong access to liquidity ◦ 61% of REIT outstanding balances are investment grade or mapped to an IG risk rating, which provides loss insulation to the overall portfolio ◦ Balance of remaining unsecured is primarily to institutional RE Funds backed by predominantly IG sponsors • Total IRE (incl unsec. CRE) to Risk Based Capital(2): 108% and Construction, Land, and Acq. & Dev. to Risk Based Capital: 20% are well below supervisory limits (300%/100%) Key Portfolio Metrics

 
24 CRE- Office Portfolio (Outstanding balances as of September 30, 2024) (1) $ in Millions. Amounts include IRE and CRE Unsecured loans but exclude Held For Sale loans. Metrics represent 09/30/2024 results except for charge-offs, which reflects results for the 9 months ended September 30, 2024, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. (2) Stressed LTV based on GreenStreet's Commercial Property Price Index as of October 4, 2024; applied the "Recent Peak" discount to properties where the latest appraisal is >1 year (37% discount); applied the "Past 12 Months" discount to properties where an appraisal occurred within the last year (8% discount). (3) Includes matured balances. (4) Class A/B designation as of 6/30/2024; Multi/Single Tenant and Suburban/Urban as of 9/30/2024 (5) Comprised of REITs and business banking borrowers. • Business Offices secured = 90% / unsecured = 10% • WA LTV 66% (based on appraisal at origination or most recent received); Stressed WA LTV 88% using GreenStreet(2) • 62% of secured outstanding IRE balances are located in the South of which 91% is Class A • Investment Grade tenants make up ~80% of Single Tenant IRE balances • For Office loans maturing in the next 12 months, properties are 83% leased on average (82% occupied) • $774M or 50% of total Office balances will mature in the next 12 months(3) • Rents have reduced slightly or remain flat from pre-COVID levels while capital costs (i.e., tenant improvements) and rent concessions are high, contributing to a substantial decline in net effective rents Key Portfolio Metrics(1) Balances $ $1,555 % of Total Loans 1.6% NPL $225 NPL / Loans 14.5% Charge-offs $9 Charge-offs / Loans 0.7% ACL $105 ACL / Loans 6.8% Ongoing Portfolio Surveillance 61% 39% Multi-Tenant Single Tenant 93% 7% Class A Class B Investor Real Estate Office Portfolio Overview(4) 76% 24% Suburban Urban ACL Rates Single Tenant Multi Tenant Miscellaneous(5) 3.1% 10.3% 2.2%

 
25 Transportation - Trucking (Outstanding balances as of September 30, 2024) (1) $ in Millions. Metrics represent 09/30/2024 results except for charge-offs, which reflects results for the 9 months ended September 30, 2024, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. Metrics are inclusive of the Ascentium portfolio. Key Portfolio Metrics(1) Balances $ $1,418 % of Total Loans 1.5% NPL $61 NPL / Loans 4.3% Charge-offs $24 Charge-offs / Loans 2.2% ACL $62 ACL / Loans 4.4% • Trucking companies have been working through the most prolonged downturn in the U.S. domestic freight market since 2016 • Recent measures of freight demand have been mostly positive compared to prior results • Depressed spot rates continue to put pressure on smaller carriers and force exits from industry participants which should help align capacity with demand over time; larger established carriers have navigated the downturn with resilience given their lower reliance on the spot market • Fuel price declines provided some relief to the industry recently but this trend may reverse with turmoil in the Middle East • Our strategy is primarily centered around larger, existing clients and slowing originations of smaller trucking deals at this point in the cycle Ongoing Portfolio Surveillance

 
26 Consumer Lending Portfolio • Avg. origination FICO 757 • Current LTV 52% • 98% owner occupied • 3Q24 QTD NCO (0.01%) • Avg. origination FICO 774 • Current LTV 35% • 61% of portfolio is 1st lien • Avg. loan size $34,600 • $60M to convert to amortizing or balloon during 2024 • 3Q24 QTD NCO (0.05%) • Avg. origination FICO 777 • Avg. new loan $17,143 • 3Q24 Yield 7.82% • 3Q24 QTD NCO 1.59% • Avg. origination FICO 781 • Avg. new line $7,904 • 3Q24 Yield 14.82% • 3Q24 QTD NCO 3.84% 4% 4% 4% 4% 11% 6% 8% 16% 10% 82% 67% 78% 2% 2% 2% Cons R/E secured Cons non-R/E secured Total consumer Not Available Above 720 620-680 Below 620 681-720 Consumer FICO Scores(1) (1) Refreshed FICO scores as of 09/30/2024. Consumer R/E secured balances comprise 77% of the Consumer portfolio while Consumer non-R/E balances comprise 23% of the Consumer portfolio. (2) Regions' Home Improvement Financing was formerly known as EnerBank. Residential Mortgage Consumer Credit Card Home Equity Home Improvement Financing(2)

 
27 $1,732 $(26) $16 $6 $1,728 Allowance for Credit Losses 09/30/2024 • 3Q allowance essentially flat compared to the prior quarter, resulting in a $113M provision expense • A consistent ACL resulted from: ◦ Decreases in Specific Reserve borrowers due to charge-offs offset by increases due to risk rating downgrades as a result of the Regulatory Shared National Credit Exam ◦ Some deterioration in the economic forecast and small reductions in qualitative adjustments ($ in millions) 06/30/2024 Portfolio Changes Economic/ Qualitative Changes Specific Reserve Changes QoQ Highlights

 
28 Pre-R&S period 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 3Q2026 Real GDP, annualized % change 1.8 % 1.9 % 2.0 % 1.8 % 2.1 % 2.3 % 2.2 % 2.1 % 1.9 % Unemployment rate 4.2 % 4.2 % 4.3 % 4.3 % 4.4 % 4.4 % 4.3 % 4.3 % 4.2 % HPI, year-over-year % change 3.4 % 2.7 % 2.5 % 2.5 % 2.4 % 2.5 % 2.5 % 2.5 % 2.6 % CPI, year-over-year % change 2.6 % 2.4 % 2.1 % 2.0 % 2.4 % 2.5 % 2.5 % 2.4 % 2.4 % Base R&S Economic Outlook (As of September 2024) • A single, base economic forecast represents Regions’ internal outlook for the economy over the reasonable & supportable forecast period • Economic uncertainty is accounted for through qualitative adjustments to our modeled results • Management considered alternative internal and external forecasts to establish appropriate qualitative adjustments • Final qualitative adjustments included consideration of the allowance's sensitivity to economic uncertainties that reflected a 15-20% increase in the unemployment rate

 
29 As of 9/30/2024 Day 1 Ratios (in millions) Loan Balance ACL ACL/Loans Actual Proforma C&I $46,900 $567 1.21 % CRE-OO mortgage 4,873 109 2.24 % CRE-OO construction 341 10 2.93 % Total commercial $52,114 $686 1.32 % 1.33 % 1.32 % IRE mortgage 6,562 198 3.01 % IRE construction 2,250 43 1.90 % Total IRE $8,812 $241 2.73 % 1.06 % 1.06 % Residential first mortgage 20,125 104 0.52 % Home equity lines 3,130 80 2.57 % Home equity loans 2,404 26 1.07 % Consumer credit card 1,372 138 10.03 % Other consumer 925 74 7.98 % Total consumer $27,956 $422 1.51 % 1.73 % 1.41 % Sold/Acquired Portfolios(1) $7,907 $379 4.81 % 5.92 % 4.81 % Total $96,789 $1,728 1.79 % 1.71 % 1.61 % Allowance Allocation Regions "Day 1" CECL ACL ratio on 1/1/2020 was 1.71%. The company has executed a number of de-risking strategies that have improved the overall loan portfolio. Taking the 3Q24 loan portfolio and applying the "Day 1" ACL rates would produce a proforma Day 1 ACL ratio of 1.61%. (1) Sold portfolios since Day 1 CECL include SoFi, GreenSky and Auto. Acquired portfolios include Ascentium and EnerBank.

 
30 Management uses computations of earnings and certain other financial measures, which exclude certain adjustments that are included in the financial results presented in accordance with GAAP, 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 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 fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) 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 fee income and efficiency ratios. Net loan charge-offs (GAAP) are presented excluding adjustments to arrive at adjusted net loan-charge offs (non-GAAP). Adjusted net loan charge-offs as a percentage of average loans (non-GAAP) are calculated as adjusted net loan charge-offs (non-GAAP) divided by average loans (GAAP) and annualized. Regions believes that the exclusion of these adjustments provides a meaningful base 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. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. Tangible common shareholders’ equity, tangible common book value per share, and return on average tangible common shareholders' equity (ROATCE) 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, tangible common book value per share, and ROATCE are not formally defined by GAAP or prescribed in any amount by federal banking regulations they are currently considered to be non-GAAP financial measures and other entities may calculate them differently than Regions’ disclosed calculations. Adjustments to shareholders' equity include intangible assets and related deferred taxes and preferred stock. Additionally, adjustments to ROATCE include accumulated other comprehensive income. The Company also presents accumulated other comprehensive excluding adjustments to arrive at adjusted accumulated other comprehensive income (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. 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 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. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these 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 selected items does not represent the amount that effectively accrues directly to shareholders. Management and the Board of Directors utilize non-GAAP measures as follows: • Preparation of Regions' operating budgets • Monthly financial performance reporting • Monthly close-out reporting of consolidated results (management only) • Presentation to investors of company performance • Metrics for incentive compensation Non-GAAP Information

 
31 Non-GAAP Reconciliation Adjusted Net Charge-Offs and Ratio For the Quarter Ended ($ amounts in millions) 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 Net loan charge-offs (GAAP) $ 117 $ 101 $ 121 $ 132 $ 101 Less: charge-offs associated with the sale of loans — — — 35 — Adjusted net loan charge-offs (non-GAAP) $ 117 $ 101 $ 121 $ 97 $ 101 Net loan charge-offs as a % of average loans, annualized (GAAP) 0.48 % 0.42 % 0.50 % 0.54 % 0.40 % Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) 0.48 % 0.42 % 0.50 % 0.39 % 0.40 %

 
32 Non-GAAP Reconciliation Pre-Tax Pre-Provision Income (PPI) Quarter Ended ($ amounts in millions) 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 3Q24 vs. 2Q24 3Q24 vs. 3Q23 Net income available to common shareholders (GAAP) $ 446 $ 477 $ 343 $ 367 $ 465 $ (31) (6.5) % $ (19) (4.1) % Preferred dividends and other (GAAP) 44 24 25 24 25 20 83.3 % 19 76.0 % Income tax expense (GAAP) 118 124 96 80 129 (6) (4.8) % (11) (8.5) % Income before income taxes (GAAP) 608 625 464 471 619 (17) (2.7) % (11) (1.8) % Provision for credit losses (GAAP) 113 102 152 155 145 11 10.8 % (32) (22.1) % Pre-tax pre-provision income (non-GAAP) 721 727 616 626 764 (6) (0.8) % (43) (5.6) % Other adjustments: Securities (gains) losses, net 78 50 50 2 1 28 56.0 % 77 NM Leveraged lease termination gains, net — — — (1) — — NM — NM FDIC insurance special assessment (4) 4 18 119 — (8) (200.0) % (4) NM Salaries and employee benefits—severance charges 3 4 13 28 3 (1) (25.0) % — — % Branch consolidation, property and equipment charges — 1 1 3 1 (1) (100.0) % (1) (100.0) % Early extinguishment of debt — — — (4) — — NM — NM Other miscellaneous expenses — (37) — — — 37 100.0 % — NM Professional, legal and regulatory expenses 1 — 2 1 — 1 NM 1 NM Total other adjustments 78 22 84 148 5 56 254.5 % 73 NM Adjusted pre-tax pre-provision income (non-GAAP) $ 799 $ 749 $ 700 $ 774 $ 769 $ 50 6.7 % $ 30 3.9 % NM - Not Meaningful

 
33 Non-GAAP Reconciliation NII, Non-Interest Income/Expense, and Efficiency Ratio NM - Not Meaningful Quarter Ended ($ amounts in millions) 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 3Q24 vs. 2Q24 3Q24 vs. 3Q23 Non-interest expense (GAAP) A $ 1,069 $ 1,004 $ 1,131 $ 1,185 $ 1,093 $ 65 6.5 % $ (24) (2.2) % Adjustments: FDIC insurance special assessment 4 (4) (18) (119) — 8 200.0 % 4 NM Branch consolidation, property and equipment charges — (1) (1) (3) (1) 1 100.0 % 1 100.0 % Salary and employee benefits—severance charges (3) (4) (13) (28) (3) 1 25.0 % — — % Early extinguishment of debt — — — 4 — — NM — NM Professional, legal and regulatory expenses (1) — (2) (1) — (1) NM (1) NM Other miscellaneous expenses — 37 — — — (37) (100.0) % — NM Adjusted non-interest expense (non-GAAP) B $ 1,069 $ 1,032 $ 1,097 $ 1,038 $ 1,089 $ 37 3.6 % $ (20) (1.8) % Net interest income (GAAP) C $ 1,218 $ 1,186 $ 1,184 $ 1,231 $ 1,291 $ 32 2.7 % $ (73) (5.7) % Taxable-equivalent adjustment 12 12 13 13 13 — — % (1) (7.7) % Net interest income, taxable-equivalent basis D $ 1,230 $ 1,198 $ 1,197 $ 1,244 $ 1,304 $ 32 2.7 % $ (74) (5.7) % Non-interest income (GAAP) E 572 545 563 580 566 27 5.0 % 6 1.1 % Adjustments: Securities (gains) losses, net 78 50 50 2 1 28 56.0 % 77 NM Leveraged lease termination gains — — — (1) — — NM — NM Adjusted non-interest income (non-GAAP) F $ 650 $ 595 $ 613 $ 581 $ 567 55 9.2 % $ 83 14.6 % Total revenue C+E=G $ 1,790 $ 1,731 $ 1,747 $ 1,811 $ 1,857 $ 59 3.4 % $ (67) (3.6) % Adjusted total revenue (non-GAAP) C+F=H $ 1,868 $ 1,781 $ 1,797 $ 1,812 $ 1,858 $ 87 4.9 % $ 10 0.5 % Total revenue, taxable-equivalent basis D+E=I $ 1,802 $ 1,743 $ 1,760 $ 1,824 $ 1,870 $ 59 3.4 % $ (68) (3.6) % Adjusted total revenue, taxable-equivalent basis (non- GAAP) D+F=J $ 1,880 $ 1,793 $ 1,810 $ 1,825 $ 1,871 $ 87 4.9 % $ 9 0.5 % Efficiency ratio (GAAP) A/I 59.3 % 57.6 % 64.3 % 65.0 % 58.5 % Adjusted efficiency ratio (non-GAAP) B/J 56.9 % 57.6 % 60.6 % 56.9 % 58.2 % Fee income ratio (GAAP) E/I 31.7 % 31.3 % 32.0 % 31.8 % 30.3 % Adjusted fee income ratio (non-GAAP) F/J 34.6 % 33.2 % 33.9 % 31.8 % 30.3 %

 
34 Non-GAAP Reconciliation Non-Interest Expense Twelve Months Ended December 31 ($ amounts in millions) 2023 2022 2021 2020 2019 2018 2017 2016 Non-interest expense (GAAP) $ 4,416 $ 4,068 $ 3,747 $ 3,643 $ 3,489 $ 3,570 $ 3,491 $ 3,483 Adjustments: FDIC insurance special assessment (119) — — — — — — — Contribution to Regions Financial Corporation foundation — — (3) (10) — (60) (40) — Professional, legal and regulatory expenses (1) (179) (15) (7) — — — (3) Branch consolidation, property and equipment charges (7) (3) (5) (31) (25) (11) (22) (58) Expenses associated with residential mortgage loan sale — — — — — (4) — — Early extinguishment of debt 4 — (20) (22) (16) — — (14) Salary and employee benefits—severance charges (31) — (6) (31) (5) (61) (10) (21) Acquisition expense — — — (1) — — — — Adjusted non-interest expense (non-GAAP) $ 4,262 $ 3,886 $ 3,698 $ 3,541 $ 3,443 $ 3,434 $ 3,419 $ 3,387

 
35 Quarter Ended ($ amounts in millions) 9/30/2024 6/30/2024 3/31/2024 12/31/2023 ADJUSTED CET1 RATIO Common Equity Tier 1(1) A $ 13,184 $ 13,093 $ 12,913 $ 12,976 Adjustments: AOCI gain (loss) on securities(2) (1,369) (2,298) (2,264) (2,064) AOCI gain (loss) on defined benefit pension plans and other post employment benefits (437) (443) (447) (451) Adjusted Common Equity Tier 1 (non-GAAP) B $ 11,378 $ 10,352 $ 10,202 $ 10,461 Total risk-weighted assets(1) C $ 124,753 $ 125,725 $ 125,167 $ 126,475 Common Equity Tier 1 ratio(1)(3) A/C 10.6 % 10.4 % 10.3 % 10.3 % Adjusted Common Equity Tier 1 ratio (non-GAAP)(1)(3) B/C 9.1 % 8.2 % 8.2 % 8.3 % Non-GAAP Reconciliation Adjusted CET1- inclusive of AOCI(4) (1) Common equity as well as Total risk-weighted assets are estimated. (2) Represents AOCI on AFS and HTM securities (3) Amounts calculated based upon whole dollar values (4) Consistent with the proposed Basel III Endgame rules, AOCI for CF hedges remains excluded.

 
36 As of and for Quarter Ended ($ amounts in millions, except per share data) 9/30/2024 6/30/2024 3/31/2024 12/31/2023 9/30/2023 TANGIBLE COMMON RATIOS Shareholders’ equity (GAAP) A $ 18,676 $ 17,169 $ 17,044 $ 17,429 $ 16,100 Less: Preferred stock (GAAP) 1,715 1,659 1,659 1,659 1,659 Intangible assets (GAAP) 5,911 5,920 5,929 5,938 5,949 Deferred tax liability related to intangibles (GAAP) (122) (119) (114) (112) (108) Tangible common shareholders’ equity (non-GAAP) B $ 11,172 $ 9,709 $ 9,570 $ 9,944 $ 8,600 Total assets (GAAP) C $ 157,426 $ 154,052 $ 154,909 $ 152,194 $ 153,624 Less: Intangible assets (GAAP) 5,911 5,920 5,929 5,938 5,949 Deferred tax liability related to intangibles (GAAP) (122) (119) (114) (112) (108) Tangible assets (non-GAAP) D $ 151,637 $ 148,251 $ 149,094 $ 146,368 $ 147,783 Shares outstanding—end of quarter E 911 915 918 924 939 Total equity to total assets (GAAP) A/C 11.86 % 11.14 % 11.00 % 11.45 % 10.48 % Tangible common shareholders’ equity to tangible assets (non-GAAP) B/D 7.37 % 6.55 % 6.42 % 6.79 % 5.82 % Tangible common book value per share (non-GAAP) B/E $ 12.26 $ 10.61 $ 10.42 $ 10.77 $ 9.16 Non-GAAP Reconciliation Tangible Common Ratios

 
37 Forward-Looking Statements This presentation 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. • Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans. • 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. Forward-Looking Statements

 
38 • 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. • 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. • Political uncertainty in the United States, including uncertainty around elections, could directly or indirectly impact 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. • 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. Forward-Looking Statements (continued)

 
39 • 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. Forward-Looking Statements (continued)

 

 
v3.24.3
Document and Entity Information
Oct. 18, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Oct. 18, 2024
Entity Registrant Name REGIONS FINANCIAL CORPORATION
Entity Central Index Key 0001281761
Amendment Flag false
Entity Incorporation, State or Country Code DE
Entity File Number 001-34034
Entity Tax Identification Number 63-0589368
Entity Address, Address Line One 1900 Fifth Avenue North
Entity Address, City or Town Birmingham
Entity Address, State or Province AL
Entity Address, Postal Zip Code 35203
City Area Code 800
Local Phone Number 734-4667
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Common Stock  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock, $.01 par value
Trading Symbol RF
Security Exchange Name NYSE
Series B Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security 5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C
Trading Symbol RF PRC
Security Exchange Name NYSE
Series C Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security 4.45% Non-Cumulative Perpetual Preferred Stock, Series E
Trading Symbol RF PRE
Security Exchange Name NYSE
Series E Preferred Stock  
Entity Information [Line Items]  
Title of 12(b) Security Non-Cumulative Perpetual Preferred Stock, Series F
Trading Symbol RF PRF
Security Exchange Name NYSE
Regions Financial (NYSE:RF-E)
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