EX-99.2 3 rf-20230331xexhibitx992.htm EX-99.2 Document

Exhibit 99.2

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Regions Financial Corporation and Subsidiaries
Financial Supplement (unaudited)
First Quarter 2023





Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 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 First Quarter 2023 Earnings Release
Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)3/31/202312/31/20229/30/20226/30/20223/31/2022
Earnings Summary
Interest income - taxable equivalent$1,654 $1,565 $1,355 $1,166 $1,063 
Interest expense - taxable equivalent224 151 81 47 37 
Net interest income - taxable equivalent1,430 1,414 1,274 1,119 1,026 
Less: Taxable-equivalent adjustment13 13 12 11 11 
Net interest income 1,417 1,401 1,262 1,108 1,015 
Provision for (benefit from) credit losses135 112 135 60 (36)
Net interest income after provision for (benefit from) credit losses1,282 1,289 1,127 1,048 1,051 
Non-interest income534 600 605 640 584 
Non-interest expense1,027 1,017 1,170 948 933 
Income before income taxes789 872 562 740 702 
Income tax expense177 187 133 157 154 
Net income$612 $685 $429 $583 $548 
Net income available to common shareholders$588 $660 $404 $558 $524 
Weighted-average shares outstanding—during quarter:
Basic935 934 934 934 938 
Diluted942 941 940 940 947 
Earnings per common share - basic$0.63 $0.71 $0.43 $0.60 $0.56 
Earnings per common share - diluted$0.62 $0.70 $0.43 $0.59 $0.55 
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$98,057 $97,009 $94,711 $93,458 $89,335 
Allowance for credit losses(1,596 )(1,582 )(1,539 )(1,514 )(1,492 )
Assets154,135 155,220 157,798 160,908 164,082 
Deposits128,460 131,743 135,378 138,263 141,022 
Long-term borrowings2,307 2,284 2,274 2,319 2,343 
Shareholders' equity16,883 15,947 15,173 16,507 16,982 
Average balances
Loans, net of unearned income$97,277 $95,752 $94,684 $90,764 $87,814 
Assets153,082 155,668 158,422 161,826 161,728 
Deposits129,042 133,007 135,518 139,592 138,734 
Long-term borrowings2,286 2,275 2,319 2,328 2,390 
Shareholders' equity16,457 15,442 16,473 16,404 17,717 




1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 3/31/202312/31/20229/30/20226/30/20223/31/2022
Return on average assets* (1)
1.62 %1.75 %1.07 %1.44 %1.38 %
Return on average common shareholders' equity*16.10 %19.01 %10.82 %15.18 %13.23 %
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
26.70 %33.20 %18.02 %25.40 %21.00 %
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP)* (2)
19.85 %22.91 %14.42 %20.85 %20.25 %
Efficiency ratio52.3 %50.5 %62.3 %53.9 %57.9 %
Adjusted efficiency ratio (non-GAAP) (2)
52.2 %51.6 %52.6 %54.2 %57.9 %
Dividend payout ratio (3)
31.8 %28.3 %46.2 %28.5 %30.3 %
Common book value per share$16.29 $15.29 $14.46 $15.89 $16.42 
Tangible common book value per share (non-GAAP) (2)
$10.01 $9.00 $8.15 $9.55 $10.06 
Total equity to total assets10.95 %10.27 %9.62 %10.26 %10.35 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
6.31 %5.63 %5.01 %5.76 %5.93 %
Common equity (4)
$12,419$12,066 $11,554 $11,298 $10,912 
Total risk-weighted assets (4)
$126,262$125,752 $124,395 $122,154 $116,182 
Common equity Tier 1 ratio (4)
9.8 %9.6 %9.3 %9.2 %9.4 %
Tier 1 capital ratio (4)
11.2 %10.9 %10.6 %10.6 %10.8 %
Total risk-based capital ratio (4)
12.9 %12.5 %12.3 %12.3 %12.5 %
Leverage ratio (4)
9.3 %8.9 %8.5 %8.2 %8.0 %
Effective tax rate 22.4 %21.5 %23.7 %21.2 %21.9 %
Allowance for credit losses as a percentage of loans, net of unearned income1.63 %1.63 %1.63 %1.62 %1.67 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 288 %317 %311 %410 %446 %
Net interest margin (FTE)* 4.22 %3.99 %3.53 %3.06 %2.85 %
Loans, net of unearned income, to total deposits76.3 %73.6 %70.0 %67.6 %63.3 %
Net charge-offs as a percentage of average loans*0.35 %0.29 %0.46 %0.17 %0.21 %
Adjusted net charge-offs as a percentage of average loans (non-GAAP) * (2)
0.35 %0.29 %0.19 %0.17 %0.21 %
Non-performing loans, excluding loans held for sale, as a percentage of loans0.56 %0.52 %0.52 %0.39 %0.37 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale0.58 %0.53 %0.54 %0.41 %0.39 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (5)
0.71 %0.75 %0.65 %0.52 %0.53 %
Associate headcount—full-time equivalent 20,113 20,073 19,950 19,673 19,723 
ATMs 2,034 2,039 2,043 2,048 2,054 
Branch Statistics
Full service1,251 1,252 1,259 1,259 1,259 
Drive-through/transaction service only34 34 35 35 35 
Total branch outlets1,285 1,286 1,294 1,294 1,294 
*Annualized
(1)Calculated by dividing net income by average assets.
(2)See reconciliation of GAAP to non-GAAP Financial Measures that begin on pages 11, 14, 15 and 17.
(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 18 for amounts related to these loans.


2
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Consolidated Balance Sheets
As of
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022
Assets:
Cash and due from banks$2,395 $1,997 $2,117 $2,301 $2,227 
Interest-bearing deposits in other banks6,438 9,230 13,549 18,199 25,718 
Debt securities held to maturity790 801 817 836 864 
Debt securities available for sale28,230 27,933 28,126 29,052 29,384 
Loans held for sale564 354 720 612 694 
Loans, net of unearned income 98,057 97,009 94,711 93,458 89,335 
Allowance for loan losses
(1,472)(1,464)(1,418)(1,425)(1,416)
Net loans96,585 95,545 93,293 92,033 87,919 
Other earning assets1,335 1,308 1,341 1,428 1,504 
Premises and equipment, net1,705 1,718 1,744 1,768 1,794 
Interest receivable538 511 424 365 329 
Goodwill5,733 5,733 5,739 5,749 5,748 
Residential mortgage servicing rights at fair value (MSRs)790 812 809 770 542 
Other identifiable intangible assets, net238 249 266 279 292 
Other assets8,794 9,029 8,853 7,516 7,067 
Total assets$154,135 $155,220 $157,798 $160,908 $164,082 
Liabilities and Equity:
Deposits:
Non-interest-bearing$49,647 $51,348 $54,996 $58,510 $59,590 
Interest-bearing78,813 80,395 80,382 79,753 81,432 
Total deposits128,460 131,743 135,378 138,263 141,022 
Borrowed funds:
Short-term borrowings2,000 — — — — 
Long-term borrowings2,307 2,284 2,274 2,319 2,343 
Other liabilities4,466 5,242 4,973 3,819 3,735 
Total liabilities137,233 139,269 142,625 144,401 147,100 
Equity:
Preferred stock, non-cumulative perpetual1,659 1,659 1,659 1,659 1,659 
Common stock10 10 10 10 10 
Additional paid-in capital11,996 11,988 11,976 11,962 11,983 
Retained earnings7,433 7,004 6,531 6,314 5,915 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income, net(2,844)(3,343)(3,632)(2,067)(1,214)
Total shareholders’ equity16,883 15,947 15,173 16,507 16,982 
Noncontrolling interest
19 4 — — — 
Total equity
16,902 15,951 15,173 16,507 16,982 
Total liabilities and equity
$154,135 $155,220 $157,798 $160,908 $164,082 








3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
End of Period Loans
As of
    3/31/20233/31/2023
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022 vs. 12/31/2022 vs. 3/31/2022
Commercial and industrial$51,811 $50,905 $49,591 $48,492 $45,643 $906 1.8 %$6,168 13.5 %
Commercial real estate mortgage—owner-occupied4,938 5,103 5,167 5,218 5,181 (165)(3.2)%(243)(4.7)%
Commercial real estate construction—owner-occupied306 298 282 266 273 8 2.7 %33 12.1 %
Total commercial57,055 56,306 55,040 53,976 51,097 749 1.3 %5,958 11.7 %
Commercial investor real estate mortgage 6,392 6,393 6,295 5,892 5,557 (1)NM835 15.0 %
Commercial investor real estate construction2,040 1,986 1,824 1,720 1,607 54 2.7 %433 26.9 %
Total investor real estate8,432 8,379 8,119 7,612 7,164 53 0.6 %1,268 17.7 %
Total business65,487 64,685 63,159 61,588 58,261 802 1.2 %7,226 12.4 %
Residential first mortgage19,172 18,810 18,399 17,892 17,373 362 1.9 %1,799 10.4 %
Home equity—lines of credit (1)
3,397 3,510 3,521 3,550 3,602 (113)(3.2)%(205)(5.7)%
Home equity—closed-end (2)
2,446 2,489 2,515 2,524 2,500 (43)(1.7)%(54)(2.2)%
Consumer credit card1,219 1,248 1,186 1,172 1,133 (29)(2.3)%86 7.6 %
Other consumer—exit portfolios (3)
488 570 662 775 909 (82)(14.4)%(421)(46.3)%
Other consumer5,848 5,697 5,269 5,957 5,557 151 2.7 %291 5.2 %
Total consumer32,570 32,324 31,552 31,870 31,074 246 0.8 %1,496 4.8 %
Total Loans$98,057 $97,009 $94,711 $93,458 $89,335 $1,048 1.1 %$8,722 9.8 %
______
NM - Not meaningful.
(1)     The balance of Regions' home equity lines of credit consists of $1,766 million of first lien and $1,631 million of second lien at 3/31/2023.
(2)    The balance of Regions' closed-end home equity loans consists of $2,180 million of first lien and $266 million of second lien at 3/31/2023.
(3)    Regions ceased originating indirect vehicle loans in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.
As of
End of Period Loans by Percentage3/31/202312/31/20229/30/20226/30/20223/31/2022
Commercial and industrial52.8 %52.5 %52.4 %51.9 %51.1 %
Commercial real estate mortgage—owner-occupied5.0 %5.3 %5.5 %5.6 %5.8 %
Commercial real estate construction—owner-occupied0.3 %0.3 %0.3 %0.3 %0.3 %
Total commercial58.1 %58.1 %58.2 %57.8 %57.2 %
Commercial investor real estate mortgage6.5 %6.6 %6.6 %6.3 %6.2 %
Commercial investor real estate construction2.1 %2.0 %1.9 %1.8 %1.8 %
Total investor real estate8.6 %8.6 %8.5 %8.1 %8.0 %
Total business66.7 %66.7 %66.7 %65.9 %65.2 %
Residential first mortgage19.6 %19.4 %19.4 %19.1 %19.4 %
Home equity—lines of credit 3.5 %3.6 %3.7 %3.8 %4.0 %
Home equity—closed-end 2.5 %2.6 %2.7 %2.7 %2.8 %
Consumer credit card1.2 %1.3 %1.3 %1.3 %1.3 %
Other consumer—exit portfolios0.5 %0.6 %0.7 %0.8 %1.0 %
Other consumer6.0 %5.8 %5.5 %6.4 %6.3 %
Total consumer33.3 %33.3 %33.3 %34.1 %34.8 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %


4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Average Balances of Loans
 Average Balances
($ amounts in millions)1Q234Q223Q222Q221Q221Q23 vs. 4Q221Q23 vs. 1Q22
Commercial and industrial$51,158 $50,135 $49,120 $46,538 $43,993 $1,023 2.0 %$7,165 16.3 %
Commercial real estate mortgage—owner-occupied5,013 5,073 5,167 5,204 5,237 (60)(1.2)%(224)(4.3)%
Commercial real estate construction—owner-occupied292 289 274 273 269 3 1.0 %23 8.6 %
Total commercial56,463 55,497 54,561 52,015 49,499 966 1.7 %6,964 14.1 %
Commercial investor real estate mortgage6,444 6,406 6,115 5,760 5,514 38 0.6 %930 16.9 %
Commercial investor real estate construction1,960 1,884 1,764 1,668 1,568 76 4.0 %392 25.0 %
Total investor real estate8,404 8,290 7,879 7,428 7,082 114 1.4 %1,322 18.7 %
Total business 64,867 63,787 62,440 59,443 56,581 1,080 1.7 %8,286 14.6 %
Residential first mortgage18,957 18,595 18,125 17,569 17,496 362 1.9 %1,461 8.4 %
Home equity—lines of credit3,460 3,520 3,531 3,571 3,667 (60)(1.7)%(207)(5.6)%
Home equity—closed-end2,461 2,497 2,519 2,511 2,496 (36)(1.4)%(35)(1.4)%
Consumer credit card1,214 1,207 1,176 1,145 1,142 7 0.6 %72 6.3 %
Other consumer—exit portfolios (1)
527 613 716 836 987 (86)(14.0)%(460)(46.6)%
Other consumer5,791 5,533 6,177 5,689 5,445 258 4.7 %346 6.4 %
Total consumer32,410 31,965 32,244 31,321 31,233 445 1.4 %1,177 3.8 %
Total Loans$97,277 $95,752 $94,684 $90,764 $87,814 $1,525 1.6 %$9,463 10.8 %
______
(1)    Regions ceased originating indirect vehicle loans in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.


5
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
End of Period Deposits
 As of
     3/31/20233/31/2023
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022 vs. 12/31/2022 vs. 3/31/2022
Interest-free deposits$49,647 $51,348 $54,996 $58,510 $59,590 $(1,701)(3.3)%$(9,943)(16.7)%
Interest-bearing checking24,066 25,676 26,500 26,989 28,001 (1,610)(6.3)%(3,935)(14.1)%
Savings15,286 15,662 16,083 16,220 16,101 (376)(2.4)%(815)(5.1)%
Money market—domestic31,688 33,285 32,444 31,116 31,677 (1,597)(4.8)%11NM
Low-cost deposits120,687 125,971 130,023 132,835 135,369 (5,284)(4.2)%(14,682)(10.8)%
Time deposits7,773 5,772 5,355 5,428 5,653 2,00134.7%2,12037.5%
Total Deposits$128,460 $131,743 $135,378 $138,263 $141,022 $(3,283)(2.5)%$(12,562)(8.9)%
 As of
   3/31/20233/31/2023
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022 vs. 12/31/2022 vs. 3/31/2022
Consumer Bank Segment$83,296 $83,487 $85,455 $84,987 $85,219 $(191)(0.2)%$(1,923)(2.3)%
Corporate Bank Segment35,185 37,145 38,293 41,456 42,836 (1,960)(5.3)%(7,651)(17.9)%
Wealth Management Segment7,941 9,111 9,400 9,489 10,420 (1,170)(12.8)%(2,479)(23.8)%
Other (1)
2,038 2,000 2,230 2,331 2,547 381.9%(509)(20.0)%
Total Deposits$128,460 $131,743 $135,378 $138,263 $141,022 $(3,283)(2.5)%$(12,562)(8.9)%
 As of
    3/31/20233/31/2023
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022 vs. 12/31/2022 vs. 3/31/2022
Wealth Management - Private Wealth$7,238 $8,196 $8,565 $8,771 $9,472 $(958)(11.7)%$(2,234)(23.6)%
Wealth Management - Institutional Services703 915 835 718 948 (212)(23.2)%(245)(25.8)%
Total Wealth Management Segment Deposits$7,941 $9,111 $9,400 $9,489 $10,420 $(1,170)(12.8)%$(2,479)(23.8)%

As of
End of Period Deposits by Percentage3/31/202312/31/20229/30/20226/30/20223/31/2022
Interest-free deposits38.6 %39.0 %40.6 %42.3 %42.3 %
Interest-bearing checking18.7 %19.5 %19.6 %19.5 %19.9 %
Savings11.9 %11.9 %11.9 %11.7 %11.4 %
Money market—domestic24.7 %25.3 %24.0 %22.5 %22.5 %
Low-cost deposits93.9 %95.7 %96.1 %96.0 %96.1 %
Time deposits6.1 %4.3 %3.9 %4.0 %3.9 %
Total Deposits100.0 %100.0 %100.0 %100.0 %100.0 %
NM - Not meaningful.
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).










6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)1Q234Q223Q222Q221Q221Q23 vs. 4Q221Q23 vs. 1Q22
Interest-free deposits$49,592 $53,107 $55,806 $58,911 $58,117 $(3,515)(6.6)%$(8,525)(14.7)%
Interest-bearing checking24,697 25,379 26,665 27,533 27,771 (682)(2.7)%(3,074)(11.1)%
Savings15,418 15,840 16,176 16,200 15,539 (422)(2.7)%(121)(0.8)%
Money market—domestic32,521 33,218 31,520 31,348 31,402 (697)(2.1)%1,119 3.6 %
Low-cost deposits122,228 127,544 130,167 133,992 132,829 (5,316)(4.2)%(10,601)(8.0)%
Time deposits6,813 5,462 5,351 5,600 5,905 1,351 24.7 %908 15.4 %
Corporate treasury other deposits1 1 — — — — NM1 NM
Total Deposits$129,042 $133,007 $135,518 $139,592 $138,734 $(3,965)(3.0)%(9,692)(7.0)%
 Average Balances
($ amounts in millions)1Q234Q223Q222Q221Q221Q23 vs. 4Q221Q23 vs. 1Q22
Consumer Bank Segment$82,200 $83,555 $84,741 $85,224 $83,054 $(1,355)(1.6)%$(854)(1.0)%
Corporate Bank Segment36,273 38,176 39,058 41,920 42,609 (1,903)(5.0)%(6,336)(14.9)%
Wealth Management Segment8,463 9,065 9,467 10,020 10,407 (602)(6.6)%(1,944)(18.7)%
Other (1)
2,106 2,211 2,252 2,428 2,664 (105)(4.7)%(558)(20.9)%
Total Deposits$129,042 $133,007 $135,518 $139,592 $138,734 $(3,965)(3.0)%$(9,692)(7.0)%
 Average Balances
($ amounts in millions)1Q234Q223Q222Q221Q221Q23 vs. 4Q221Q23 vs. 1Q22
Wealth Management - Private Wealth$7,785 $8,367 $8,792 $9,266 $9,591 $(582)(7.0)%$(1,806)(18.8)%
Wealth Management - Institutional Services678 698 675 754 816 (20)(2.9)%(138)(16.9)%
Total Wealth Management Segment Deposits$8,463 $9,065 $9,467 $10,020 $10,407 $(602)(6.6)%$(1,944)(18.7)%
________
NM - Not meaningful.
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).



7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Consolidated Statements of Income
Quarter Ended
($ amounts in millions, except per share data)3/31/202312/31/20229/30/20226/30/20223/31/2022
Interest income on:
Loans, including fees $1,360 $1,208 $1,072 $932 $876 
Debt securities187 222 171 157 138 
Loans held for sale7 9 8 10 9 
Other earning assets 87 113 92 56 29 
Total interest income1,641 1,552 1,343 1,155 1,052 
Interest expense on:
Deposits179 114 50 20 13 
Short-term borrowings5 — — — — 
Long-term borrowings40 37 31 27 24 
Total interest expense224 151 81 47 37 
Net interest income 1,417 1,401 1,262 1,108 1,015 
Provision for (benefit from) credit losses135 112 135 60 (36)
Net interest income after provision for (benefit from) credit losses1,282 1,289 1,127 1,048 1,051 
Non-interest income:
Service charges on deposit accounts155 152 156 165 168 
Card and ATM fees121 130 126 133 124 
Wealth management income112 108 108 102 101 
Capital markets income42 61 93 112 73 
Mortgage income24 24 37 47 48 
Securities gains (losses), net(2)— (1)— — 
Other82 125 86 81 70 
Total non-interest income534 600 605 640 584 
Non-interest expense:
Salaries and employee benefits616 604 593 575 546 
Equipment and software expense102 102 98 97 95 
Net occupancy expense73 74 76 75 75 
Other236 237 403 201 217 
Total non-interest expense1,027 1,017 1,170 948 933 
Income before income taxes789 872 562 740 702 
Income tax expense 177 187 133 157 154 
Net income $612 $685 $429 $583 $548 
Net income available to common shareholders$588 $660 $404 $558 $524 
Weighted-average shares outstanding—during quarter:
Basic935 934 934 934 938 
Diluted942 941 940 940 947 
Actual shares outstanding—end of quarter935 934 934 934 933 
Earnings per common share: (1)
Basic$0.63 $0.71 $0.43 $0.60 $0.56 
Diluted$0.62 $0.70 $0.43 $0.59 $0.55 
Taxable-equivalent net interest income$1,430 $1,414 $1,274 $1,119 $1,026 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.





8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 3/31/202312/31/2022
($ 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 $— 3.56 %
Debt securities (2)(3)
32,044 187 2.33 32,213 222 2.75 
Loans held for sale389 7 7.23 537 9 6.53 
Loans, net of unearned income:
Commercial and industrial (4)
51,158 763 6.02 50,135 647 5.10 
Commercial real estate mortgage—owner-occupied (5)
5,013 61 4.88 5,073 55 4.27 
Commercial real estate construction—owner-occupied292 4 5.26 289 4 4.96 
Commercial investor real estate mortgage6,444 100 6.23 6,406 89 5.43 
Commercial investor real estate construction1,960 35 7.09 1,884 30 6.24 
Residential first mortgage18,957 161 3.40 18,595 155 3.33 
Home equity5,921 88 5.93 6,017 81 5.31 
Consumer credit card1,214 45 14.93 1,207 44 14.34 
Other consumer—exit portfolios527 8 6.20 613 9 6.07 
Other consumer5,791 108 7.56 5,533 107 7.77 
Total loans, net of unearned income97,277 1,373 5.68 95,752 1,221 5.05 
Interest bearing deposits in other banks6,508 72 4.49 10,600 100 3.74 
Other earning assets1,340 15 4.70 1,380 13 3.76 
Total earning assets 137,558 1,654 4.84 140,483 1,565 4.42 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(3,081)(3,582)
Allowance for loan losses(1,427)(1,447)
Cash and due from banks2,360 2,406 
Other non-earning assets17,672 17,808 
$153,082 $155,668 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $15,418 4 0.11 $15,840 4 0.10 
Interest-bearing checking24,697 54 0.89 25,379 42 0.65 
Money market 32,521 91 1.13 33,218 57 0.69 
Time deposits6,813 30 1.80 5,462 11 0.80 
Other deposits1 — 4.66 1 — 4.66 
Total interest-bearing deposits (6)
79,450 179 0.91 79,900 114 0.57 
Short-term borrowings400 5 4.92 — — — 
Long-term borrowings2,286 40 6.91 2,275 37 6.38 
Total interest-bearing liabilities82,136 224 1.10 82,214 151 0.73 
Non-interest-bearing deposits (6)
49,592 — — 53,107 — — 
Total funding sources131,728 224 0.69 135,321 151 0.44 
Net interest spread (2)
3.73 3.69 
Other liabilities4,891 4,904 
Shareholders’ equity16,457 15,442 
Noncontrolling interest6 1 
$153,082 $155,668 
Net interest income/margin FTE basis (2)
$1,430 4.22 %$1,414 3.99 %
_______
(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 no hedging income for the quarter ended March 31, 2023 and $40 million for the quarter ended December 31, 2022. Hedging income for the quarter ended December 31, 2022 reflects strategies designed to accelerate hedge notional maturities through the use of pay-fixed swaps. Benefits migrated from securities to loans in the first quarter of 2023.
(4) Interest income includes hedging expense of $13 million for the quarter ended March 31, 2023 and $43 million for the quarter ended December 31, 2022.
(5) Interest income includes hedging expense of $2 million for the quarter ended March 31, 2023 and $5 million for the quarter ended December 31, 2022.
(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 0.56% for the quarter ended March 31, 2023 and 0.34% for the quarter ended December 31, 2022.



9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 9/30/20226/30/20223/31/2022
($ 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 $— 2.43 %$— $— — %$2 $— 0.18 %
Debt securities (2)
32,101 171 2.12 31,429 157 2.00 29,342 138 1.88 
Loans held for sale539 8 6.09 704 10 5.39 782 9 4.89 
Loans, net of unearned income:
Commercial and industrial (3)
49,120 549 4.42 46,538 480 4.12 43,993 447 4.10 
Commercial real estate mortgage—owner-occupied (4)
5,167 56 4.20 5,204 56 4.31 5,237 57 4.35 
Commercial real estate construction—owner-occupied274 3 4.53 273 2 3.85 269 3 3.91 
Commercial investor real estate mortgage6,115 64 4.06 5,760 39 2.69 5,514 30 2.19 
Commercial investor real estate construction1,764 22 4.77 1,668 14 3.34 1,568 11 2.83 
Residential first mortgage18,125 147 3.24 17,569 137 3.12 17,496 135 3.09 
Home equity6,050 68 4.49 6,082 56 3.76 6,163 55 3.55 
Consumer credit card1,176 40 13.79 1,145 36 12.38 1,142 35 12.48 
Other consumer—exit portfolios716 10 5.72 836 13 5.93 987 14 5.84 
Other consumer6,177 125 8.03 5,689 110 7.73 5,445 100 7.42 
Total loans, net of unearned income 94,684 1,084 4.53 90,764 943 4.15 87,814 887 4.07 
Interest bearing deposits in other banks14,353 81 2.25 22,246 45 0.81 26,606 13 0.20 
Other earning assets1,379 11 3.34 1,445 11 2.79 1,306 16 5.02 
Total earning assets
143,057 1,355 3.76 146,588 1,166 3.18 145,852 1,063 2.93 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(2,389)(2,107)(549)
Allowance for loan losses(1,432)(1,419)(1,472)
Cash and due from banks2,291 2,386 2,200 
Other non-earning assets16,895 16,378 15,697 
$158,422 $161,826 $161,728 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $16,176 5 0.11 $16,200 5 0.12 $15,539 5 0.13 
Interest-bearing checking26,665 22 0.33 27,533 6 0.09 27,771 2 0.03 
Money market 31,520 17 0.22 31,348 4 0.05 31,402 2 0.02 
Time deposits5,351 6 0.45 5,600 5 0.34 5,905 4 0.30 
Total interest-bearing deposits (5)
79,712 50 0.25 80,681 20 0.10 80,617 13 0.07 
Other short-term borrowings30 — 0.23 7 — 1.01 9 — 0.16 
Long-term borrowings2,319 31 5.39 2,328 27 4.53 2,390 24 4.06 
Total interest-bearing liabilities 82,061 81 0.39 83,016 47 0.22 83,016 37 0.18 
Non-interest-bearing deposits (5)
55,806 — — 58,911 — — 58,117 — — 
Total funding sources137,867 81 0.23 141,927 47 0.13 141,133 37 0.11 
Net interest spread (2)
3.36 2.95 2.75 
Other liabilities4,082 3,495 2,878 
Shareholders’ equity16,473 16,404 17,717 
$158,422 $161,826 $161,728 
Net interest income/margin FTE basis (2)
$1,274 3.53 %$1,119 3.06 %$1,026 2.85 %
_______
(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 zero, $69 million, and $98 million for the quarters ended September 30, 2022 , June 30, 2022, and March 31, 2022, respectively.
(4) Interest income includes hedging income of zero, $9 million, and $12 million for the quarters ended September 30, 2022, June 30, 2022, and March 31, 2022, respectively.
(5) 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 0.15% for the quarter ended September 30, 2022, 0.06% for the quarter ended June 30, 2022 and 0.04% for the quarter ended March 31, 2022.




10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 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)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Net income available to common shareholders (GAAP)$588 $660 $404 $558 $524 $(72)(10.9)%$64 12.2 %
Preferred dividends (GAAP)24 25 25 25 24 (1)(4.0)%— NM
Income tax expense (GAAP)177 187 133 157 154 (10)(5.3)%23 14.9 %
Income before income taxes (GAAP)789 872 562 740 702 (83)(9.5)%87 12.4 %
Provision for (benefit from) credit losses (GAAP)135 112 135 60 (36)23 20.5 %171 475.0 %
Pre-tax pre-provision income (non-GAAP)924 984 697 800 666 (60)(6.1)%258 38.7 %
Other adjustments:
Securities (gains) losses, net2 — 1 — — 2 NM2 NM
Leveraged lease termination gains, net(1)— — — (1)(1)NM— NM
Insurance proceeds (1)
— (50)— — — 50 100.0 %— NM
Branch consolidation, property and equipment charges2 5 3 (6)1 (3)(60.0)%1 100.0 %
Professional, legal and regulatory expenses (1)
— — 179 — — — NM— NM
Total other adjustments3 (45)183 (6)— 48 106.7 %3 NM
Adjusted pre-tax pre-provision income (non-GAAP)$927 $939 $880 $794 $666 $(12)(1.3)%$261 39.2 %
______
NM - Not meaningful
(1) In the third quarter of 2022, the Company settled a previously disclosed matter with the Consumer Financial Protection Bureau. The Company received an insurance reimbursement
related to the settlement in the fourth quarter of 2022.






11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Service charges on deposit accounts$155 $152 $156 $165 $168 $3 2.0 %$(13)(7.7)%
Card and ATM fees121 130 126 133 124 (9)(6.9)%(3)(2.4)%
Wealth management income112 108 108 102 101 4 3.7 %11 10.9 %
Capital markets income (1)
42 61 93 112 73 (19)(31.1)%(31)(42.5)%
Mortgage income (2)
24 24 37 47 48 — NM(24)(50.0)%
Commercial credit fee income 26 25 26 23 22 1 4.0 %4 18.2 %
Bank-owned life insurance17 17 15 16 14 — NM3 21.4 %
Market value adjustments on employee benefit assets-other (3)
(1)(9)(5)(17)(14)8 88.9 %13 92.9 %
Securities gains (losses), net(2)— (1)— — (2)NM(2)NM
Insurance proceeds (4)
— 50 — — — (50)(100.0)— NM
Other miscellaneous income40 42 50 59 48 (2)(4.8)%(8)(16.7)%
Total non-interest income$534 $600 $605 $640 $584 $(66)(11.0)%$(50)(8.6)%
Mortgage Income
Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Production and sales$13 $11 $18 $23 $43 $2 18.2 %$(30)(69.8)%
Loan servicing38 42 40 28 27 (4)(9.5)%11 40.7 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions(12)— 28 52 47 (12)NM(59)(125.5)%
MSRs hedge gain (loss)9 (6)(26)(41)(52)15 250.0 %61 117.3 %
MSRs change due to payment decay(24)(23)(23)(15)(17)(1)(4.3)%(7)(41.2)%
MSR and related hedge impact(27)(29)(21)(4)(22)2 6.9 %(5)(22.7)%
Total mortgage income$24 $24 $37 $47 $48 $— NM$(24)(50.0)%
Mortgage production - portfolio$580 $712 $997 $1,277 $1,021 $(132)(18.5)%$(441)(43.2)%
Mortgage production - agency/secondary market302 314 526 680 819 (12)(3.8)%(517)(63.1)%
Total mortgage production$882 $1,026 $1,523 $1,957 $1,840 $(144)(14.0)%$(958)(52.1)%
Mortgage production - purchased88.3 %87.9 %88.1 %82.9 %65.7 %
Mortgage production - refinanced11.7 %12.1 %11.9 %17.1 %34.3 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Investment management and trust fee income$76 $76 $74 $72 $75 $— NM$1 1.3 %
Investment services fee income36 32 34 30 26 4 12.5 %10 38.5 %
Total wealth management income (5)
$112 $108 $108 $102 $101 $4 3.7 %$11 10.9 %
Capital Markets Income
Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Capital markets income$42 $61 $93 $112 $73 $(19)(31.1)%$(31)(42.5)%
Less: Valuation adjustments on customer derivatives (6)
(33)(11)21 20 6 (22)(200.0)%(39)NM
Capital markets income excluding valuation adjustments $75 $72 $72 $92 $67 $3 4.2 %$8 11.9 %
_________
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)Mortgage income in the first quarter of 2022 includes approximately $12 million in gains associated with the re-securitization and sale of approximately $285 million of Ginnie Mae loans that had been previously repurchased from their pools.
(3)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.
(4)In the third quarter of 2022, the Company settled a previously disclosed matter with the Consumer Financial Protection Bureau. The Company received an insurance reimbursement related to the settlement in the fourth quarter of 2022.
(5)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.
(6)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.

12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Salaries and employee benefits$616 $604 $593 $575 $546 $12 2.0 %$70 12.8 %
Equipment and software expense102 102 98 97 95 — NM7 7.4 %
Net occupancy expense73 74 76 75 75 (1)(1.4)%(2)(2.7)%
Outside services39 41 40 38 38 (2)(4.9)%1 2.6 %
Marketing27 27 29 22 24 — NM3 12.5 %
Professional, legal and regulatory expenses 19 23 199 24 17 (4)(17.4)%2 11.8 %
Credit/checkcard expenses14 14 13 13 26 — NM(12)(46.2)%
FDIC insurance assessments25 18 16 13 14 7 38.9 %11 78.6 %
Visa class B shares expense8 7 3 9 5 1 14.3 %3 60.0 %
Branch consolidation, property and equipment charges 2 5 3 (6)1 (3)(60.0)%1 100.0 %
Other miscellaneous expenses102 102 100 88 92 — NM10 10.9 %
Total non-interest expense$1,027 $1,017 $1,170 $948 $933 $10 1.0 %$94 10.1 %
_________
NM - Not Meaningful




13
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 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 table below presents 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) 3/31/202312/31/20229/30/20226/30/20223/31/20221Q23 vs. 4Q221Q23 vs. 1Q22
Non-interest expense (GAAP)A$1,027 $1,017 $1,170 $948 $933 $10 1.0 %$94 10.1 %
Adjustments:
Branch consolidation, property and equipment charges (2)(5)(3)6 (1)3 60.0 %(1)(100.0)%
Professional, legal and regulatory expenses (1)
— — (179)— — — NM— NM
Adjusted non-interest expense (non-GAAP)B$1,025 $1,012 $988 $954 $932 $13 1.3 %$93 10.0 %
Net interest income (GAAP)C$1,417 $1,401 $1,262 $1,108 $1,015 $16 1.1 %$402 39.6 %
Taxable-equivalent adjustment13 13 12 11 11 — NM2 18.2 %
Net interest income, taxable-equivalent basisD$1,430 $1,414 $1,274 $1,119 $1,026 $16 1.1 %$404 39.4 %
Non-interest income (GAAP)E$534 $600 $605 $640 $584 $(66)(11.0)%$(50)(8.6)%
Adjustments:
Securities (gains) losses, net2 — 1 — — 2 NM2 NM
Leveraged lease termination gains(1)— — — (1)(1)NM— NM
Insurance proceeds (1)
— (50)— — — 50 100.0 %— NM
Adjusted non-interest income (non-GAAP)F$535 $550 $606 $640 $583 $(15)(2.7)%$(48)(8.2)%
Total revenueC+E=G$1,951 $2,001 $1,867 $1,748 $1,599 $(50)(2.5)%$352 22.0 %
Adjusted total revenue (non-GAAP)C+F=H$1,952 $1,951 $1,868 $1,748 $1,598 $1 0.1 %$354 22.2 %
Total revenue, taxable-equivalent basisD+E=I$1,964 $2,014 $1,879 $1,759 $1,610 $(50)(2.5)%$354 22.0 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,965 $1,964 $1,880 $1,759 $1,609 $1 0.1 %$356 22.1 %
Operating leverage ratio (GAAP) (2)
I-A11.9 %
Adjusted operating leverage ratio (non-GAAP) (2)
J-B12.1 %
Efficiency ratio (GAAP) (2)
A/I52.3 %50.5 %62.3 %53.9 %57.9 %
Adjusted efficiency ratio (non-GAAP) (2)
B/J52.2 %51.6 %52.6 %54.2 %57.9 %
Fee income ratio (GAAP) (2)
E/I27.2 %29.8 %32.2 %36.4 %36.3 %
Adjusted fee income ratio (non-GAAP) (2)
F/J27.2 %28.0 %32.2 %36.4 %36.2 %
________
NM - Not Meaningful
(1)In the third quarter of 2022, the Company settled a previously disclosed matter with the Consumer Financial Protection Bureau. The Company received an insurance reimbursement related to the settlement in the fourth quarter of 2022.
(2)Amounts have been calculated using whole dollar values.







14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 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)3/31/202312/31/20229/30/20226/30/20223/31/2022
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY
Net income available to common shareholders (GAAP)A$588 $660 $404 $558 $524 
Average shareholders' equity (GAAP)$16,457 $15,442 $16,473 $16,404 $17,717 
Less:
Average intangible assets (GAAP)5,977 5,996 6,019 6,034 6,043 
Average deferred tax liability related to intangibles (GAAP) (103)(105)(104)(101)(100)
Average preferred stock (GAAP)1,659 1,659 1,659 1,659 1,659 
Average tangible common shareholders' equity (non-GAAP)B$8,924 $7,892 $8,899 $8,812 $10,115 
Less: Average AOCI, after tax(3,081)(3,535)(2,213)(1,921)(379)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)C$12,005 $11,427 $11,112 $10,733 $10,494 
Return on average tangible common shareholders' equity (non-GAAP) (1)
A/B26.70 %33.20 %18.02 %25.40 %21.00 %
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)
A/C19.85 %22.91 %14.42 %20.85 %20.25 %
____
*Annualized
(1)Amounts have been calculated using whole dollar values.
Tangible Common Ratios
The following table provides a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP) and the calculations of the end of period “tangible common shareholders’ equity to tangible assets” and "tangible common book value per share" ratios (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
As of and for Quarter Ended
($ amounts in millions, except per share data)3/31/202312/31/20229/30/20226/30/20223/31/2022
TANGIBLE COMMON RATIOS
Shareholders’ equity (GAAP)A$16,883 $15,947 $15,173 $16,507 $16,982 
Less:
Preferred stock (GAAP)1,659 1,659 1,659 1,659 1,659 
Intangible assets (GAAP)5,971 5,982 6,005 6,028 6,040 
Deferred tax liability related to intangibles (GAAP)(104)(103)(105)(104)(101)
Tangible common shareholders’ equity (non-GAAP)B$9,357 $8,409 $7,614 $8,924 $9,384 
Total assets (GAAP)C$154,135 $155,220 $157,798 $160,908 $164,082 
Less:
Intangible assets (GAAP)5,971 5,982 6,005 6,028 6,040 
Deferred tax liability related to intangibles (GAAP)(104)(103)(105)(104)(101)
Tangible assets (non-GAAP)D$148,268 $149,341 $151,898 $154,984 $158,143 
Shares outstanding—end of quarterE935 934 934 934 933 
Total equity to total assets (GAAP) (1)
A/C10.95 %10.27 %9.62 %10.26 %10.35 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
B/D6.31 %5.63 %5.01 %5.76 %5.93 %
Tangible common book value per share (non-GAAP) (1)
B/E$10.01 $9.00 $8.15 $9.55 $10.06 
____
(1)Amounts have been calculated using whole dollar values.

15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022
Components:
Beginning allowance for loan losses (ALL)$1,464 $1,418 $1,425 $1,416 $1,479 
Cumulative change in accounting guidance (1)
(38)— — — — 
Beginning allowance for loan losses (ALL), as adjusted for change in accounting guidance$1,426 $1,418 $1,425 $1,416 $1,479 
Loans charged-off:
Commercial and industrial49 38 20 21 23 
Commercial real estate mortgage—owner-occupied— 1 — 1 3 
Total commercial49 39 20 22 26 
Commercial investor real estate mortgage— 5 — — — 
Total investor real estate— 5 — — — 
Residential first mortgage— — 1 — — 
Home equity—lines of credit1 1 2 1 1 
Home equity—closed-end— — — — 1 
Consumer credit card12 11 9 10 10 
Other consumer—exit portfolios5 4 4 4 6 
Other consumer (2)
38 33 99 33 33 
Total consumer56 49 115 48 51 
Total105 93 135 70 77 
Recoveries of loans previously charged-off:
Commercial and industrial10 10 12 12 13 
Commercial real estate mortgage—owner-occupied— 1 1 1 — 
Total commercial10 11 13 13 13 
Commercial investor real estate mortgage— 1 — 1 — 
Total investor real estate— 1 — 1 — 
Residential first mortgage— 1 1 1 2 
Home equity—lines of credit3 3 2 4 3 
Home equity—closed-end— — — 1 1 
Consumer credit card2 2 2 2 2 
Other consumer—exit portfolios1 1 — 2 2 
Other consumer6 5 7 8 8 
Total consumer12 12 12 18 18 
Total22 24 25 32 31 
Net charge-offs (recoveries):
Commercial and industrial39 28 8 9 10 
Commercial real estate mortgage—owner-occupied— — (1)— 3 
Total commercial39 28 7 9 13 
Commercial investor real estate mortgage— 4 — (1)— 
Total investor real estate— 4 — (1)— 
Residential first mortgage— (1)— (1)(2)
Home equity—lines of credit(2)(2)— (3)(2)
Home equity—closed-end— — — (1)— 
Consumer credit card10 9 7 8 8 
Other consumer—exit portfolios4 3 4 2 4 
Other consumer32 28 92 25 25 
Total consumer44 37 103 30 33 
Total83 69 110 38 46 
Provision for (benefit from) loan losses (2)
129 115 103 47 (17)
Ending allowance for loan losses (ALL)1,472 1,464 1,418 1,425 1,416 
Beginning reserve for unfunded credit commitments118 121 89 76 95 
Provision for (benefit from) unfunded credit losses6 (3)32 13 (19)
Ending reserve for unfunded commitments124 118 121 89 76 
Allowance for credit losses (ACL) at period end$1,596 $1,582 $1,539 $1,514 $1,492 

16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)3/31/202312/31/20229/30/20226/30/20223/31/2022
Net loan charge-offs as a % of average loans, annualized (3):
Commercial and industrial0.31 %0.22 %0.07 %0.07 %0.09 %
Commercial real estate mortgage—owner-occupied(0.02)%(0.02)%(0.06)%0.05 %0.20 %
Commercial real estate construction—owner-occupied(0.05)%(0.02)%(0.08)%(0.01)%(0.03)%
Total commercial0.28 %0.19 %0.06 %0.07 %0.10 %
Commercial investor real estate mortgage— %0.27 %(0.01)%(0.04)%(0.01)%
Commercial investor real estate construction— %(0.01)%— %(0.01)%— %
Total investor real estate— %0.21 %(0.01)%(0.03)%(0.01)%
Residential first mortgage— %(0.03)%(0.01)%(0.01)%(0.05)%
Home equity—lines of credit(0.22)%(0.22)%(0.08)%(0.31)%(0.17)%
Home equity—closed-end(0.03)%(0.02)%(0.09)%(0.04)%(0.07)%
Consumer credit card3.47 %2.94 %2.39 %2.70 %2.83 %
Other consumer—exit portfolios2.69 %2.46 %2.13 %0.80 %1.83 %
Other consumer (2)
2.26 %2.08 %5.92 %1.72 %1.89 %
Total consumer0.55 %0.48 %1.25 %0.39 %0.44 %
Total0.35 %0.29 %0.46 %0.17 %0.21 %
Non-performing loans, excluding loans held for sale$554 $500 $495 $369 $335 
Non-performing loans held for sale1 3 2 3 7 
Non-performing loans, including loans held for sale555 503 497 372 342 
Foreclosed properties15 13 14 11 9 
Non-performing assets (NPAs)$570 $516 $511 $383 $351 
Loans past due > 90 days (4)
$128 $208 $105 $107 $125 
Criticized loans—business (5)
$3,725 $3,149 $2,771 $2,310 $2,539 
Credit Ratios (3):
ACL/Loans, net1.63 %1.63 %1.63 %1.62 %1.67 %
ALL/Loans, net1.50 %1.51 %1.50 %1.52 %1.59 %
Allowance for credit losses to non-performing loans, excluding loans held for sale288 %317 %311 %410 %446 %
Allowance for loan losses to non-performing loans, excluding loans held for sale266 %293 %287 %386 %423 %
Non-performing loans, excluding loans held for sale/Loans, net0.56 %0.52 %0.52 %0.39 %0.37 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.58 %0.53 %0.54 %0.41 %0.39 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (4)
0.71 %0.75 %0.65 %0.52 %0.53 %
(1)Regions adopted accounting guidance on January 1, 2023 that removed the definition of troubled debt restructurings and replaced it with modifications to borrowers (MTBs) experiencing financial difficulty. The Company recorded the cumulative effect of the change in accounting guidance as an increase in retained earnings and a reduction in deferred tax assets.
(2)At the end of the third quarter of 2022, the Company sold certain unsecured consumer loans with an associated allowance of $94 million at the time of the sale. As shown in the table below, there was a $63 million fair value mark recorded through charge-offs, which resulted in a net provision benefit of $31 million associated with the sale.
(3)Amounts have been calculated using whole dollar values.
(4)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 18 for amounts related to these loans.
(5)Business represents the combined total of commercial and investor real estate loans.

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

At the end of the third quarter of 2022, the Company made the strategic decision to sell certain unsecured consumer loans. These loans were marked down 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)3/31/202312/31/20229/30/20226/30/20223/31/2022
Net loan charge-offs (GAAP)$83 $69 $110 $38 $46 
Less: charge-offs associated with the sale of unsecured consumer loans— — 63 — — 
Adjusted net loan charge-offs (non-GAAP)$83 $69 $47 $38 $46 
Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) (1)
0.35 %0.29 %0.19 %0.17 %0.21 %
(1)Amounts have been calculated using whole dollar values.

17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
Non-Performing Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202312/31/20229/30/20226/30/20223/31/2022
Commercial and industrial$385 0.74 %$347 0.68 %$333 0.67 %$257 0.53 %$216 0.47 %
Commercial real estate mortgage—owner-occupied34 0.68 %29 0.58 %29 0.57 %29 0.55 %32 0.61 %
Commercial real estate construction—owner-occupied6 1.85 %6 1.93 %6 2.22 %10 3.92 %10 3.75 %
Total commercial425 0.74 %382 0.68 %368 0.67 %296 0.55 %258 0.50 %
Commercial investor real estate mortgage67 1.06 %53 0.83 %59 0.93 %3 0.05 %2 0.04 %
Total investor real estate67 0.80 %53 0.63 %59 0.72 %3 0.04 %2 0.03 %
Residential first mortgage26 0.14 %31 0.16 %29 0.16 %27 0.15 %31 0.18 %
Home equity—lines of credit30 0.90 %28 0.79 %32 0.90 %36 1.00 %37 1.02 %
Home equity—closed-end6 0.23 %6 0.24 %7 0.28 %7 0.28 %7 0.28 %
Total consumer62 0.19 %65 0.20 %68 0.22 %70 0.22 %75 0.24 %
Total non-performing loans$554 0.56 %$500 0.52 %$495 0.52 %$369 0.39 %$335 0.37 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202312/31/20229/30/20226/30/20223/31/2022
Commercial and industrial $47 0.09 %$56 0.11 %$77 0.16 %$37 0.08 %$37 0.08 %
Commercial real estate mortgage—owner-occupied7 0.14 %9 0.18 %5 0.09 %5 0.10 %6 0.11 %
Commercial real estate construction—owner-occupied— — %— — %— — %— — %1 0.46 %
Total commercial54 0.09 %65 0.12 %82 0.15 %42 0.08 %44 0.09 %
Commercial investor real estate mortgage1 0.01 %— — %1 — %— — %16 0.29 %
Total investor real estate1 0.01 %— — %1 — %— — %16 0.23 %
Residential first mortgage—non-guaranteed (1)
74 0.39 %86 0.47 %85 0.47 %71 0.41 %58 0.34 %
Home equity—lines of credit28 0.83 %30 0.85 %20 0.58 %16 0.45 %20 0.55 %
Home equity—closed-end 10 0.38 %11 0.44 %11 0.44 %11 0.43 %12 0.47 %
Consumer credit card15 1.24 %16 1.26 %17 1.39 %13 1.11 %13 1.12 %
Other consumer—exit portfolios7 1.38 %10 1.75 %10 1.49 %10 1.31 %11 1.21 %
Other consumer69 1.18 %67 1.18 %49 0.93 %48 0.81 %45 0.82 %
Total consumer (1)
203 0.74 %220 0.82 %192 0.73 %169 0.66 %159 0.64 %
Total accruing 30-89 days past due loans (1)
$258 0.26 %$285 0.29 %$275 0.29 %$211 0.23 %$219 0.25 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202312/31/20229/30/20226/30/20223/31/2022
Commercial and industrial$23 0.04 %$30 0.06 %$4 0.01 %$4 0.01 %$5 0.01 %
Commercial real estate mortgage—owner-occupied— 0.01 %1 0.02 %— — %1 0.02 %1 0.01 %
Total commercial23 0.04 %31 0.05 %4 0.01 %5 0.01 %6 0.01 %
Commercial investor real estate mortgage— — %40 0.63 %— — %— — %— — %
Total investor real estate— — %40 0.48 %— — %— — %— — %
Residential first mortgage—non-guaranteed (2)
47 0.25 %47 0.26 %50 0.28 %50 0.29 %61 0.36 %
Home equity—lines of credit17 0.50 %15 0.44 %17 0.47 %16 0.46 %19 0.52 %
Home equity—closed-end 8 0.36 %8 0.33 %8 0.31 %9 0.36 %11 0.45 %
Consumer credit card15 1.20 %15 1.19 %13 1.12 %11 0.97 %12 1.11 %
Other consumer—exit portfolios1 0.18 %1 0.19 %1 0.20 %2 0.19 %2 0.19 %
Other consumer17 0.30 %17 0.29 %12 0.22 %14 0.23 %14 0.25 %
Total consumer (2)
105 0.42 %103 0.42 %101 0.40 %102 0.41 %119 0.50 %
Total accruing 90+ days past due loans (2)
$128 0.13 %$174 0.18 %$105 0.11 %$107 0.11 %$125 0.14 %
Total delinquencies (1) (2)
$386 0.39 %$459 0.47 %$380 0.40 %$318 0.34 %$344 0.39 %
(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 $37 million at 3/31/2023, $46 million at 12/31/2022, $39 million at 9/30/2022, $42 million at 6/30/2022, and $39 million at 3/31/2022.
(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 $30 million at 3/31/2023, $34 million at 12/31/2022, $26 million at 9/30/2022, $28 million at 6/30/2022, and $37 million at 3/31/2022.

18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 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 and obligations, and the availability and cost of capital and liquidity.
•Volatility and uncertainty related to inflation and the effects of inflation, which may lead to increased costs for businesses and consumers and potentially contribute to poor business and economic conditions generally.
•The impact of pandemics, including the COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of any pandemic 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.
•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 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.
•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.
•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.
•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.
•Rising interest rates could negatively impact the value of our portfolio of investment securities.
•The loss of value of our investment portfolio could negatively impact market perceptions of us.
•The effects of social media on market perceptions of us and banks generally.
•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 whom 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.
•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, such as special FDIC assessments, 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.
•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.
•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.
•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 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.

19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2023 Earnings Release
•Fraud or misconduct by our customers, employees or business partners.
•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 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.
•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.
•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically 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.
•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 their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.
•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.
•Our ability to achieve our expense management initiatives.
•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.
•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.
•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.
•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends 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.
•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 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, 2022 and in Regions’ subsequent filings with the SEC.
You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

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