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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): July 21, 2023
 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
6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series BRF PRBNew 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


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.
Item 7.01    Regulation FD Disclosure.
    
On July 21, 2023, Regions Financial Corporation (“Regions”) issued a press release announcing its preliminary results of operations for the quarter ended June 30, 2023. A copy of the press release is attached hereto as Exhibit 99.1. Supplemental financial information for the quarter ended June 30, 2023 is attached as Exhibit 99.2. Executives from Regions will review the results via a live audio webcast at 10:00 a.m. Eastern time on July 21, 2023. A copy of a visual presentation that will be a part of that review is attached as Exhibit 99.3. All of the attached exhibits are 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, this information is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (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 July 21, 2023.
99.2  
Supplemental Financial Information for the Quarter Ended June 30, 2023.
99.3  
Visual Presentation of July 21, 2023.
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: July 21, 2023



newsrelease_logoa78.jpgExhibit 99.1
  
Media Contact:    Investor Relations Contact:
Jeremy King     Dana Nolan
(205) 264-4551    (205) 264-7040

Consistent, Sustainable Performance. Regions reports second quarter 2023 earnings of $556 million, earnings per diluted share of $0.59
$2 billion in total revenue reflects 12 percent year-over-year growth.

BIRMINGHAM, Ala. - (BUSINESS WIRE) - July 21, 2023 - Regions Financial Corp. (NYSE:RF) today reported earnings for the second quarter ended June 30, 2023. The company reported second quarter net income available to common shareholders of $556 million and earnings per diluted share of $0.59. Compared to the second quarter of 2022, total revenue increased 12 percent to $2 billion on both a reported and adjusted basis(1) driven by growth in net interest income. Strong revenue growth contributed to a 6 percent increase in pre-tax pre-provision income(1) on a reported basis and 7 percent on an adjusted basis(1) compared to the second quarter of 2022.

"We are very pleased with our second quarter performance," said John Turner, President and CEO of Regions Financial Corp. "Our associates continue to execute our strategy and deliver excellent customer service, creating consistent, sustainable, long-term performance. This quarter, we were excited to announce the addition of Regions' Overdraft Grace feature, which complements the other enhancements we've introduced over the last two years and provides customers with more financial tools and flexibility. Reflecting the growth in our business, and underscoring our focus on capital allocation and sustainable shareholder returns, we are also pleased that our Board of Directors raised the quarterly common stock dividend by 20 percent to $0.24 per share at its most recent meeting. I am very proud of the work our Associates have done and believe we are well-positioned to deliver solid financial performance in any environment."

1

SUMMARY OF SECOND QUARTER 2023 RESULTS:
Quarter Ended
(amounts in millions, except per share data)6/30/20233/31/20236/30/2022
Net income$581 $612 $583 
Preferred dividends and other25 24 25 
Net income available to common shareholders$556 $588 $558 
Weighted-average diluted shares outstanding939 942 940 
Actual shares outstanding—end of period939 935 934 
Diluted earnings per common share$0.59 $0.62 $0.59 
Selected items impacting earnings:
Pre-tax adjusted items(1):
Adjustments to non-interest expense(1)
$(1)$(2)$6 
Adjustments to non-interest income(1)
— (1)— 
Total pre-tax adjusted items(1)
$(1)$(3)$6 
Diluted EPS impact*$— $— $— 
Pre-tax additional selected items**:
Provision (in excess of) less than net charge-offs$(37)$(52)$(22)
Capital markets income (loss) - CVA/DVA(9)(33)20 
Residential MSR net hedge performance(4)(3)11 
Incremental operational losses related to check fraud(82)— — 
*     Based on income taxes at an approximate 25% incremental rate.
**     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.

2

Total revenue
Quarter Ended
($ amounts in millions)6/30/20233/31/20236/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Net interest income$1,381 $1,417 $1,108 $(36)(2.5)%$273 24.6 %
Taxable equivalent adjustment12 13 11 (1)(7.7)%1 9.1 %
Net interest income, taxable equivalent basis$1,393 $1,430 $1,119 $(37)(2.6)%$274 24.5 %
Net interest margin (FTE)4.04 %4.22 %3.06 %
Non-interest income:
Service charges on deposit accounts$152 $155 $165 (3)(1.9)%(13)(7.9)%
Card and ATM fees130 121 133 9 7.4 %(3)(2.3)%
Wealth management income110 112 102 (2)(1.8)%8 7.8 %
Capital markets income68 42 112 26 61.9 %(44)(39.3)%
Mortgage income26 24 47 2 8.3 %(21)(44.7)%
Commercial credit fee income28 26 23 2 7.7 %5 21.7 %
Bank-owned life insurance19 17 16 2 11.8 %3 18.8 %
Securities gains (losses), net— (2)— 2 100.0 %— NM
Market value adjustments on employee benefit assets*— (1)(17)1 100.0 %17 100.0 %
Other43 40 59 3 7.5 %(16)(27.1)%
Non-interest income$576 $534 $640 $42 7.9 %$(64)(10.0)%
Total revenue$1,957 $1,951 $1,748 $6 0.3 %$209 12.0 %
Adjusted total revenue (non-GAAP)(1)
$1,957 $1,952 $1,748 $5 0.3 %$209 12.0 %
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.


Total revenue of approximately $2 billion remained relatively stable on both a reported and adjusted basis(1) compared to the first quarter of 2023. Consistent with the company's expectations, net interest income decreased during the quarter to $1.4 billion or 3 percent compared to the first quarter attributable to accelerating deposit and funding costs partially offset by higher market interest rates and the company's asset sensitive balance sheet. Total net interest margin decreased 18 basis points to 4.04 percent.

Non-interest income increased 8 percent on both a reported and adjusted basis(1) compared to the first quarter of 2023 primarily driven by increases in capital markets income and card and ATM fees. The increase in capital markets income was driven primarily by improvement in CVA/DVA valuation adjustments. Excluding the impact of CVA/DVA, capital markets income increased 3 percent as growth, primarily in real estate capital markets, was partially offset by declines in mergers and acquisitions, debt underwriting and loan syndication income. Card & ATM fees increased 7 percent driven primarily by seasonally higher transaction and spend volumes, as well as a card rewards liability adjustment in the prior quarter that did not repeat.

3

Non-interest expense
Quarter Ended
($ amounts in millions)6/30/20233/31/20236/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Salaries and employee benefits$603 $616 $575 $(13)(2.1)%$28 4.9 %
Equipment and software expense101 102 97 (1)(1.0)%4 4.1 %
Net occupancy expense73 73 75 — — %(2)(2.7)%
Outside services42 39 38 3 7.7 %4 10.5 %
Professional, legal and regulatory expenses20 19 24 1 5.3 %(4)(16.7)%
Marketing26 27 22 (1)(3.7)%4 18.2 %
FDIC insurance assessments29 25 13 4 16.0 %16 123.1 %
Credit/checkcard expenses15 14 13 1 7.1 %2 15.4 %
Operational losses95 13 13 82 NM82 NM
Branch consolidation, property and equipment charges1 2 (6)(1)(50.0)%7 116.7 %
Visa class B shares expense9 8 9 1 12.5 %— — %
Other97 89 75 8 9.0 %22 29.3 %
Total non-interest expense $1,111 $1,027 $948 $84 8.2 %$163 17.2 %
Total adjusted non-interest expense(1)
$1,110 $1,025 $954 $85 8.3 %$156 16.4 %

NM - Not Meaningful

Non-interest expense increased 8 percent on both a reported and adjusted basis(1) compared to the first quarter of 2023. Commensurate with trends experienced by banks across the industry, the increase in operational losses was attributable to a spike in check fraud. Importantly, the company has effective countermeasures in place, and losses have returned to normalized levels. Excluding the incremental increase in operational losses, non-interest expense remained relatively stable. FDIC insurance assessments increased 16 percent attributable to changes in various inputs including normalizing credit conditions and an increase in average assets. Partially offsetting these increases, salaries and benefits decreased 2 percent primarily due to a seasonal decrease in payroll taxes and lower benefit costs.

The company's second quarter efficiency ratio was 56.4 percent on both a reported and adjusted basis(1). The effective tax rate was 20.2 percent in the second quarter. Compared to the first quarter, the lower effective tax rate was attributable to deductions for equity compensation that occurred during the current quarter.

4

Loans and Leases
Average Balances
($ amounts in millions)2Q231Q232Q222Q23 vs. 1Q232Q23 vs. 2Q22
Commercial and industrial$52,039 $51,158 $46,538 $881 1.7 %$5,501 11.8%
Commercial real estate—owner-occupied5,197 5,305 5,477 (108)(2.0)%(280)(5.1)%
Investor real estate8,482 8,404 7,428 78 0.9 %1,054 14.2%
Business Lending65,718 64,867 59,443 851 1.3 %6,275 10.6%
Residential first mortgage19,427 18,957 17,569 470 2.5 %1,858 10.6%
Home equity5,785 5,921 6,082 (136)(2.3)%(297)(4.9)%
Consumer credit card1,217 1,214 1,145 3 0.2 %72 6.3%
Other consumer—exit portfolios450 527 836 (77)(14.6)%(386)(46.2)%
Other consumer*5,984 5,791 5,689 193 3.3 %295 5.2%
Consumer Lending32,863 32,410 31,321 453 1.4 %1,542 4.9%
Total Loans$98,581 $97,277 $90,764 $1,304 1.3 %$7,817 8.6%
NM - Not meaningful.
*     Other consumer loans includes EnerBank (Regions' point of sale home improvement portfolio).


Average loans and leases increased 1 percent compared to the prior quarter driven primarily by growth in commercial and industrial lending, investor real estate, residential first mortgages and EnerBank. Growth in average business lending was broad-based across the telecommunications, multifamily, and energy industries. Approximately 84 percent of this quarter's business loan growth was driven by existing clients accessing and expanding their credit lines. Commercial loan line utilization levels ended the quarter at approximately 43.5 percent, decreasing 20 basis points over the prior quarter, while line commitments grew approximately $1.5 billion during the quarter.
Deposits
Average Balances
($ amounts in millions)2Q231Q232Q222Q23 vs. 1Q232Q23 vs. 2Q22
Total interest-bearing deposits$78,361 $79,450 $80,681 $(1,089)(1.4)%$(2,320)(2.9)%
Non-interest-bearing deposits47,178 49,592 58,911 (2,414)(4.9)%(11,733)(19.9)%
Total Deposits$125,539 $129,042 $139,592 $(3,503)(2.7)%$(14,053)(10.1)%
($ amounts in millions)2Q231Q232Q222Q23 vs. 1Q232Q23 vs. 2Q22
Consumer Bank Segment$80,999 $82,200 $85,224 $(1,201)(1.5)%$(4,225)(5.0)%
Corporate Bank Segment34,860 36,273 41,920 (1,413)(3.9)%(7,060)(16.8)%
Wealth Management Segment7,470 8,463 10,020 (993)(11.7)%(2,550)(25.4)%
Other2,210 2,106 2,428 104 4.9%(218)(9.0)%
Total Deposits$125,539 $129,042 $139,592 $(3,503)(2.7)%$(14,053)(10.1)%
5

Ending Balances as of
6/30/20236/30/2023
($ amounts in millions)6/30/20233/31/20236/30/2022 vs. 3/31/2023 vs. 6/30/2022
Consumer Bank Segment$81,554 $83,296 $84,987 $(1,742)(2.1)%$(3,433)(4.0)%
Corporate Bank Segment35,332 35,185 41,456 147 0.4%(6,124)(14.8)%
Wealth Management Segment7,176 7,941 9,489 (765)(9.6)%(2,313)(24.4)%
Other2,897 2,038 2,331 859 42.1%566 24.3%
Total Deposits$126,959 $128,460 $138,263 $(1,501)(1.2)%$(11,304)(8.2)%

Consistent with the company's expectations, total ending deposits declined approximately 1 percent, while total average deposit balances decreased approximately 3 percent in the second quarter of 2023 compared to the first quarter of 2023. Following primarily seasonal tax payment patterns, average Consumer and Wealth Management deposits declined 1 percent and 12 percent, respectively, while average Corporate deposits declined 4 percent.

Asset quality
As of and for the Quarter Ended
($ amounts in millions)6/30/20233/31/20236/30/2022
Allowance for credit losses (ACL) at period end$1,633$1,596$1,514
ACL/Loans, net1.65%1.63%1.62%
ALL/Loans, net1.53%1.50%1.52%
Allowance for credit losses to non-performing loans, excluding loans held for sale332%288%410%
Allowance for loan losses to non-performing loans, excluding loans held for sale308%266%386%
Provision for credit losses$118$135$60
Net loans charged-off$81$83$38
Net loans charged-off as a % of average loans, annualized0.33%0.35%0.17%
Non-performing loans, excluding loans held for sale/Loans, net0.50%0.56%0.39%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.51%0.58%0.41%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale*0.64%0.71%0.52%
Total Criticized Loans—Business Services**
$4,039$3,725$2,310
* 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.

Overall asset quality continued to normalize during the quarter. Business services criticized loans and total delinquencies increased 8 percent and 7 percent, respectively, while non-performing loans decreased 11 percent. Total net charge-offs for the quarter were $81 million, or 33 basis points of average loans, and provision expense totaled $118 million.

6

The increase to the allowance for credit losses compared to the first quarter was attributable primarily to continued credit normalization, economic outlook changes, and loan growth.

The allowance for credit loss ratio increased 2 basis points to 1.65 percent of total loans, and the allowance as a percentage of nonperforming loans increased to 332 percent.
    
Capital and liquidity
As of and for Quarter Ended
6/30/20233/31/20236/30/2022
Common Equity Tier 1 ratio(2)
10.1%9.9%9.2%
Tier 1 capital ratio(2)
11.4%11.2%10.6%
Tangible common stockholders’ equity to tangible assets (non-GAAP)(1)
6.09%6.31%5.76%
Tangible common book value per share (non-GAAP)(1)*
$9.72$10.01$9.55
Loans, net of unearned income, to total deposits78.1%76.3%67.6%
* 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 10.1 percent and 11.4 percent, respectively, at quarter-end.

As a Category IV bank, Regions did not participate in this year's supervisory capital stress test; however, the company did receive its preliminary Stress Capital Buffer reflecting planned capital changes including plans to increase its common stock dividend. From the fourth quarter of 2023 through the third quarter of 2024, the company's preliminary Stress Capital Buffer will remain at 2.5 percent.

During the second quarter, the company declared $187 million in dividends to common shareholders and did not repurchase any shares of Regions' common stock. Earlier this week, the Board of Directors declared a quarterly common stock dividend of $0.24 per share, a 20 percent increase over the second quarter. This increase is in addition to the 18 percent increase last year, representing two consecutive years of robust dividend growth well supported by underlying financial performance.

The company's liquidity position also remains robust as of June 30, 2023, with total available liquidity of approximately $53 billion, which includes cash held at the Federal Reserve, FHLB borrowing capacity, unencumbered securities, borrowing capacity at the Federal Reserve's discount window, and the Federal Reserve's Bank Term Lending Plan facility. The loan-to-deposit ratio totaled 78 percent at the end of the quarter.

(1)Non-GAAP; refer to pages 12, 16, 17, 18 and 20 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 July 21, 2023, an archived recording of the webcast will be available at the Investor Relations page of www.ir.regions.com following the live event.

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 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 more than 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 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.
8

•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, 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.
•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.
•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
9

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.


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
10

•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.
11

Exhibit 99.2

regionslogob22.jpg
Regions Financial Corporation and Subsidiaries
Financial Supplement (unaudited)
Second Quarter 2023





Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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 Second Quarter 2023 Earnings Release
Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)6/30/20233/31/202312/31/20229/30/20226/30/2022
Earnings Summary
Interest income - taxable equivalent$1,751 $1,654 $1,565 $1,355 $1,166 
Interest expense - taxable equivalent358 224 151 81 47 
Net interest income - taxable equivalent1,393 1,430 1,414 1,274 1,119 
Less: Taxable-equivalent adjustment12 13 13 12 11 
Net interest income 1,381 1,417 1,401 1,262 1,108 
Provision for credit losses118 135 112 135 60 
Net interest income after provision for credit losses1,263 1,282 1,289 1,127 1,048 
Non-interest income576 534 600 605 640 
Non-interest expense1,111 1,027 1,017 1,170 948 
Income before income taxes728 789 872 562 740 
Income tax expense147 177 187 133 157 
Net income$581 $612 $685 $429 $583 
Net income available to common shareholders$556 $588 $660 $404 $558 
Weighted-average shares outstanding—during quarter:
Basic939 935 934 934 934 
Diluted939 942 941 940 940 
Earnings per common share - basic$0.59 $0.63 $0.71 $0.43 $0.60 
Earnings per common share - diluted$0.59 $0.62 $0.70 $0.43 $0.59 
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$99,191 $98,057 $97,009 $94,711 $93,458 
Allowance for credit losses(1,633 )(1,596 )(1,582 )(1,539 )(1,514 )
Assets155,656 154,135 155,220 157,798 160,908 
Deposits126,959 128,460 131,743 135,378 138,263 
Long-term borrowings4,293 2,307 2,284 2,274 2,319 
Shareholders' equity16,639 16,883 15,947 15,173 16,507 
Average balances
Loans, net of unearned income$98,581 $97,277 $95,752 $94,684 $90,764 
Assets153,774 153,082 155,668 158,422 161,826 
Deposits125,539 129,042 133,007 135,518 139,592 
Long-term borrowings3,517 2,286 2,275 2,319 2,328 
Shareholders' equity16,892 16,457 15,442 16,473 16,404 



1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 6/30/20233/31/202312/31/20229/30/20226/30/2022
Return on average assets* (1)
1.52 %1.62 %1.75 %1.07 %1.44 %
Return on average common shareholders' equity*14.65 %16.10 %19.01 %10.82 %15.18 %
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
23.82 %26.70 %33.20 %18.02 %25.40 %
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP)* (2)
18.14 %19.85 %22.91 %14.42 %20.85 %
Efficiency ratio56.4 %52.3 %50.5 %62.3 %53.9 %
Adjusted efficiency ratio (non-GAAP) (2)
56.4 %52.2 %51.6 %52.6 %54.2 %
Dividend payout ratio (3)
33.7 %31.8 %28.3 %46.2 %28.5 %
Common book value per share$15.95 $16.29 $15.29 $14.46 $15.89 
Tangible common book value per share (non-GAAP) (2)
$9.72 $10.01 $9.00 $8.15 $9.55 
Total equity to total assets10.69 %10.95 %10.27 %9.62 %10.26 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
6.09 %6.31 %5.63 %5.01 %5.76 %
Common equity (4)
$12,787$12,420 $12,066 $11,554 $11,298 
Total risk-weighted assets (4)
$127,143$125,747 $125,752 $124,395 $122,154 
Common equity Tier 1 ratio (4)
10.1 %9.9 %9.6 %9.3 %9.2 %
Tier 1 capital ratio (4)
11.4 %11.2 %10.9 %10.6 %10.6 %
Total risk-based capital ratio (4)
13.1 %12.9 %12.5 %12.3 %12.3 %
Leverage ratio (4)
9.5 %9.3 %8.9 %8.5 %8.2 %
Effective tax rate 20.2 %22.4 %21.5 %23.7 %21.2 %
Allowance for credit losses as a percentage of loans, net of unearned income1.65 %1.63 %1.63 %1.63 %1.62 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 332 %288 %317 %311 %410 %
Net interest margin (FTE)* 4.04 %4.22 %3.99 %3.53 %3.06 %
Loans, net of unearned income, to total deposits78.1 %76.3 %73.6 %70.0 %67.6 %
Net charge-offs as a percentage of average loans*0.33 %0.35 %0.29 %0.46 %0.17 %
Adjusted net charge-offs as a percentage of average loans (non-GAAP) * (2)
0.33 %0.35 %0.29 %0.19 %0.17 %
Non-performing loans, excluding loans held for sale, as a percentage of loans0.50 %0.56 %0.52 %0.52 %0.39 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale0.51 %0.58 %0.53 %0.54 %0.41 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (5)
0.64 %0.71 %0.75 %0.65 %0.52 %
Associate headcount—full-time equivalent 20,349 20,113 20,073 19,950 19,673 
ATMs 2,025 2,034 2,039 2,043 2,048 
Branch Statistics
Full service1,245 1,251 1,252 1,259 1,259 
Drive-through/transaction service only31 34 34 35 35 
Total branch outlets1,276 1,285 1,286 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 12, 16, 17, 18 and 20.
(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 Second Quarter 2023 Earnings Release
Consolidated Balance Sheets
As of
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022
Assets:
Cash and due from banks$2,480 $2,395 $1,997 $2,117 $2,301 
Interest-bearing deposits in other banks7,406 6,438 9,230 13,549 18,199 
Debt securities held to maturity777 790 801 817 836 
Debt securities available for sale27,296 28,230 27,933 28,126 29,052 
Loans held for sale554 564 354 720 612 
Loans, net of unearned income 99,191 98,057 97,009 94,711 93,458 
Allowance for loan losses
(1,513)(1,472)(1,464)(1,418)(1,425)
Net loans97,678 96,585 95,545 93,293 92,033 
Other earning assets1,563 1,335 1,308 1,341 1,428 
Premises and equipment, net1,622 1,705 1,718 1,744 1,768 
Interest receivable575 538 511 424 365 
Goodwill5,733 5,733 5,733 5,739 5,749 
Residential mortgage servicing rights at fair value (MSRs)801 790 812 809 770 
Other identifiable intangible assets, net226 238 249 266 279 
Other assets8,945 8,794 9,029 8,853 7,516 
Total assets$155,656 $154,135 $155,220 $157,798 $160,908 
Liabilities and Equity:
Deposits:
Non-interest-bearing$46,898 $49,647 $51,348 $54,996 $58,510 
Interest-bearing80,061 78,813 80,395 80,382 79,753 
Total deposits126,959 128,460 131,743 135,378 138,263 
Borrowed funds:
Short-term borrowings3,000 2,000 — — — 
Long-term borrowings4,293 2,307 2,284 2,274 2,319 
Other liabilities4,743 4,466 5,242 4,973 3,819 
Total liabilities138,995 137,233 139,269 142,625 144,401 
Equity:
Preferred stock, non-cumulative perpetual1,659 1,659 1,659 1,659 1,659 
Common stock10 10 10 10 10 
Additional paid-in capital11,979 11,996 11,988 11,976 11,962 
Retained earnings7,802 7,433 7,004 6,531 6,314 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income (loss), net(3,440)(2,844)(3,343)(3,632)(2,067)
Total shareholders’ equity16,639 16,883 15,947 15,173 16,507 
Noncontrolling interest
22 19 4 — — 
Total equity
16,661 16,902 15,951 15,173 16,507 
Total liabilities and equity
$155,656 $154,135 $155,220 $157,798 $160,908 







3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
End of Period Loans
As of
    6/30/20236/30/2023
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022 vs. 3/31/2023 vs. 6/30/2022
Commercial and industrial$52,300 $51,811 $50,905 $49,591 $48,492 $489 0.9 %$3,808 7.9 %
Commercial real estate mortgage—owner-occupied4,797 4,938 5,103 5,167 5,218 (141)(2.9)%(421)(8.1)%
Commercial real estate construction—owner-occupied292 306 298 282 266 (14)(4.6)%26 9.8 %
Total commercial57,389 57,055 56,306 55,040 53,976 334 0.6 %3,413 6.3 %
Commercial investor real estate mortgage 6,500 6,392 6,393 6,295 5,892 108 1.7 %608 10.3 %
Commercial investor real estate construction2,132 2,040 1,986 1,824 1,720 92 4.5 %412 24.0 %
Total investor real estate8,632 8,432 8,379 8,119 7,612 200 2.4 %1,020 13.4 %
Total business66,021 65,487 64,685 63,159 61,588 534 0.8 %4,433 7.2 %
Residential first mortgage19,755 19,172 18,810 18,399 17,892 583 3.0 %1,863 10.4 %
Home equity—lines of credit (1)
3,313 3,397 3,510 3,521 3,550 (84)(2.5)%(237)(6.7)%
Home equity—closed-end (2)
2,425 2,446 2,489 2,515 2,524 (21)(0.9)%(99)(3.9)%
Consumer credit card1,231 1,219 1,248 1,186 1,172 12 1.0 %59 5.0 %
Other consumer—exit portfolios (3)
416 488 570 662 775 (72)(14.8)%(359)(46.3)%
Other consumer6,030 5,848 5,697 5,269 5,957 182 3.1 %73 1.2 %
Total consumer33,170 32,570 32,324 31,552 31,870 600 1.8 %1,300 4.1 %
Total Loans$99,191 $98,057 $97,009 $94,711 $93,458 $1,134 1.2 %$5,733 6.1 %
______
(1)     The balance of Regions' home equity lines of credit consists of $1,689 million of first lien and $1,624 million of second lien at 6/30/2023.
(2)    The balance of Regions' closed-end home equity loans consists of $2,132 million of first lien and $293 million of second lien at 6/30/2023.
(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 Percentage6/30/20233/31/202312/31/20229/30/20226/30/2022
Commercial and industrial52.7 %52.8 %52.5 %52.4 %51.9 %
Commercial real estate mortgage—owner-occupied4.9 %5.0 %5.3 %5.5 %5.6 %
Commercial real estate construction—owner-occupied0.3 %0.3 %0.3 %0.3 %0.3 %
Total commercial57.9 %58.1 %58.1 %58.2 %57.8 %
Commercial investor real estate mortgage6.6 %6.5 %6.6 %6.6 %6.3 %
Commercial investor real estate construction2.1 %2.1 %2.0 %1.9 %1.8 %
Total investor real estate8.7 %8.6 %8.6 %8.5 %8.1 %
Total business66.6 %66.7 %66.7 %66.7 %65.9 %
Residential first mortgage19.9 %19.6 %19.4 %19.4 %19.1 %
Home equity—lines of credit 3.3 %3.5 %3.6 %3.7 %3.8 %
Home equity—closed-end 2.4 %2.5 %2.6 %2.7 %2.7 %
Consumer credit card1.2 %1.2 %1.3 %1.3 %1.3 %
Other consumer—exit portfolios0.4 %0.5 %0.6 %0.7 %0.8 %
Other consumer6.2 %6.0 %5.8 %5.5 %6.4 %
Total consumer33.4 %33.3 %33.3 %33.3 %34.1 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %

4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Average Balances of Loans
 Average Balances
($ amounts in millions)2Q231Q234Q223Q222Q222Q23 vs. 1Q232Q23 vs. 2Q22
Commercial and industrial$52,039 $51,158 $50,135 $49,120 $46,538 $881 1.7 %$5,501 11.8 %
Commercial real estate mortgage—owner-occupied4,905 5,013 5,073 5,167 5,204 (108)(2.2)%(299)(5.7)%
Commercial real estate construction—owner-occupied292 292 289 274 273 — — %19 7.0 %
Total commercial57,236 56,463 55,497 54,561 52,015 773 1.4 %5,221 10.0 %
Commercial investor real estate mortgage6,459 6,444 6,406 6,115 5,760 15 0.2 %699 12.1 %
Commercial investor real estate construction2,023 1,960 1,884 1,764 1,668 63 3.2 %355 21.3 %
Total investor real estate8,482 8,404 8,290 7,879 7,428 78 0.9 %1,054 14.2 %
Total business 65,718 64,867 63,787 62,440 59,443 851 1.3 %6,275 10.6 %
Residential first mortgage19,427 18,957 18,595 18,125 17,569 470 2.5 %1,858 10.6 %
Home equity—lines of credit3,354 3,460 3,520 3,531 3,571 (106)(3.1)%(217)(6.1)%
Home equity—closed-end2,431 2,461 2,497 2,519 2,511 (30)(1.2)%(80)(3.2)%
Consumer credit card1,217 1,214 1,207 1,176 1,145 3 0.2 %72 6.3 %
Other consumer—exit portfolios (1)
450 527 613 716 836 (77)(14.6)%(386)(46.2)%
Other consumer5,984 5,791 5,533 6,177 5,689 193 3.3 %295 5.2 %
Total consumer32,863 32,410 31,965 32,244 31,321 453 1.4 %1,542 4.9 %
Total Loans$98,581 $97,277 $95,752 $94,684 $90,764 $1,304 1.3 %$7,817 8.6 %

Average Balances
Six Months Ended June 30
($ amounts in millions)202320222023 vs. 2022
Commercial and industrial$51,601 $45,273 $6,328 14.0 %
Commercial real estate mortgage—owner-occupied4,959 5,221 (262)(5.0)%
Commercial real estate construction—owner-occupied292 270 22 8.1 %
Total commercial56,852 50,764 6,088 12.0 %
Commercial investor real estate mortgage6,452 5,638 814 14.4 %
Commercial investor real estate construction1,991 1,618 373 23.1 %
Total investor real estate8,443 7,256 1,187 16.4 %
Total business 65,295 58,020 7,275 12.5 %
Residential first mortgage19,193 17,532 1,661 9.5 %
Home equity—lines of credit3,407 3,619 (212)(5.9)%
Home equity—closed-end2,446 2,504 (58)(2.3)%
Consumer credit card1,216 1,143 73 6.4 %
Other consumer—exit portfolios (1)
488 911 (423)(46.4)%
Other consumer5,888 5,568 320 5.7 %
Total consumer32,638 31,277 1,361 4.4 %
Total Loans$97,933 $89,297 $8,636 9.7 %
_____
NM - Not meaningful.
(1)Regions ceased originating indirect vehicle lending in the second quarter of 2019 and decided not to renew a third party relationship in the fourth quarter of 2019.


.

5
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
End of Period Deposits
 As of
     6/30/20236/30/2023
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022 vs. 3/31/2023 vs. 6/30/2022
Interest-free deposits$46,898 $49,647 $51,348 $54,996 $58,510 $(2,749)(5.5)%$(11,612)(19.8)%
Interest-bearing checking22,892 24,066 25,676 26,500 26,989 (1,174)(4.9)%(4,097)(15.2)%
Savings14,217 15,286 15,662 16,083 16,220 (1,069)(7.0)%(2,003)(12.3)%
Money market—domestic32,230 31,688 33,285 32,444 31,116 5421.7%1,1143.6%
Low-cost deposits116,237 120,687 125,971 130,023 132,835 (4,450)(3.7)%(16,598)(12.5)%
Time deposits10,722 7,773 5,772 5,355 5,428 2,94937.9%5,29497.5%
Total Deposits$126,959 $128,460 $131,743 $135,378 $138,263 $(1,501)(1.2)%$(11,304)(8.2)%
 As of
   6/30/20236/30/2023
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022 vs. 3/31/2023 vs. 6/30/2022
Consumer Bank Segment$81,554 $83,296 $83,487 $85,455 $84,987 $(1,742)(2.1)%$(3,433)(4.0)%
Corporate Bank Segment35,332 35,185 37,145 38,293 41,456 1470.4%(6,124)(14.8)%
Wealth Management Segment7,176 7,941 9,111 9,400 9,489 (765)(9.6)%(2,313)(24.4)%
Other (1)(2)
2,897 2,038 2,000 2,230 2,331 85942.1%56624.3%
Total Deposits$126,959 $128,460 $131,743 $135,378 $138,263 $(1,501)(1.2)%$(11,304)(8.2)%
 As of
    6/30/20236/30/2023
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022 vs. 3/31/2023 vs. 6/30/2022
Wealth Management - Private Wealth$6,552 $7,238 $8,196 $8,565 $8,771 $(686)(9.5)%$(2,219)(25.3)%
Wealth Management - Institutional Services624 703 915 835 718 (79)(11.2)%(94)(13.1)%
Total Wealth Management Segment Deposits$7,176 $7,941 $9,111 $9,400 $9,489 $(765)(9.6)%$(2,313)(24.4)%

As of
End of Period Deposits by Percentage6/30/20233/31/202312/31/20229/30/20226/30/2022
Interest-free deposits36.9 %38.6 %39.0 %40.6 %42.3 %
Interest-bearing checking18.0 %18.7 %19.5 %19.6 %19.5 %
Savings11.2 %11.9 %11.9 %11.9 %11.7 %
Money market—domestic25.4 %24.7 %25.3 %24.0 %22.5 %
Low-cost deposits91.5 %93.9 %95.7 %96.1 %96.0 %
Time deposits8.5 %6.1 %4.3 %3.9 %4.0 %
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) and includes additional wholesale funding arrangements entered into in the second quarter of 2023.
(2)Includes brokered deposits totaling $2.0 billion at 6/30/2023, $1.1 billion at 3/31/2023, $1.2 billion at 12/31/2022, $1.3 billion at 9/30/2022 and $1.5 billion at 6/30/2022.










6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)2Q231Q234Q223Q222Q222Q23 vs. 1Q232Q23 vs. 2Q22
Interest-free deposits$47,178 $49,592 $53,107 $55,806 $58,911 $(2,414)(4.9)%$(11,733)(19.9)%
Interest-bearing checking22,979 24,697 25,379 26,665 27,533 (1,718)(7.0)%(4,554)(16.5)%
Savings14,701 15,418 15,840 16,176 16,200 (717)(4.7)%(1,499)(9.3)%
Money market—domestic 31,567 32,522 33,219 31,520 31,348 (955)(2.9)%219 0.7 %
Low-cost deposits116,425 122,229 127,545 130,167 133,992 (5,804)(4.7)%(17,567)(13.1)%
Time deposits9,114 6,813 5,462 5,351 5,600 2,301 33.8 %3,514 62.8 %
Total Deposits$125,539 $129,042 $133,007 $135,518 $139,592 $(3,503)(2.7)%(14,053)(10.1)%
 Average Balances
($ amounts in millions)2Q231Q234Q223Q222Q222Q23 vs. 1Q232Q23 vs. 2Q22
Consumer Bank Segment$80,999 $82,200 $83,555 $84,741 $85,224 $(1,201)(1.5)%$(4,225)(5.0)%
Corporate Bank Segment34,860 36,273 38,176 39,058 41,920 (1,413)(3.9)%(7,060)(16.8)%
Wealth Management Segment7,470 8,463 9,065 9,467 10,020 (993)(11.7)%(2,550)(25.4)%
Other (1)
2,210 2,106 2,211 2,252 2,428 104 4.9 %(218)(9.0)%
Total Deposits$125,539 $129,042 $133,007 $135,518 $139,592 $(3,503)(2.7)%$(14,053)(10.1)%
 Average Balances
($ amounts in millions)2Q231Q234Q223Q222Q222Q23 vs. 1Q232Q23 vs. 2Q22
Wealth Management - Private Wealth$6,855 $7,785 $8,367 $8,792 $9,266 $(930)(11.9)%$(2,411)(26.0)%
Wealth Management - Institutional Services615 678 698 675 754 (63)(9.3)%(139)(18.4)%
Total Wealth Management Segment Deposits$7,470 $8,463 $9,065 $9,467 $10,020 $(993)(11.7)%$(2,550)(25.4)%

Average Balances
Six Months Ended June 30
($ amounts in millions)202320222023 vs. 2022
Interest-free deposits$48,378 $58,516 $(10,138)(17.3)%
Interest-bearing checking23,833 27,651 (3,818)(13.8)%
Savings15,058 15,871 (813)(5.1)%
Money market—domestic32,042 31,375 667 2.1 %
Low-cost deposits119,311 133,413 (14,102)(10.6)%
Time deposits7,970 5,752 2,218 38.6 %
Total Deposits$127,281 $139,165 $(11,884)(8.5)%
Average Balances
Six Months Ended June 30
($ amounts in millions)202320222023 vs. 2022
Consumer Bank Segment$81,596 $84,145 $(2,549)(3.0)%
Corporate Bank Segment35,563 42,204 (6,641)(15.7)%
Wealth Management Segment7,964 10,270 (2,306)(22.5)%
Other (1)
2,158 2,546 (388)(15.2)%
Total Deposits$127,281 $139,165 $(11,884)(8.5)%
Average Balances
Six Months Ended June 30
($ amounts in millions)202320222023 vs. 2022
Wealth Management - Private Wealth$7,318 $9,485 $(2,167)(22.8)%
Wealth Management - Institutional Services646 785 (139)(17.7)%
Total Wealth Management Segment Deposits$7,964 $10,270 $(2,306)(22.5)%
________
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) and includes additional wholesale funding arrangements entered into in the second quarter of 2023.


7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Consolidated Statements of Income
Quarter Ended
($ amounts in millions, except per share data)6/30/20233/31/202312/31/20229/30/20226/30/2022
Interest income on:
Loans, including fees $1,454 $1,360 $1,208 $1,072 $932 
Debt securities185 187 222 171 157 
Loans held for sale10 7 9 8 10 
Other earning assets 90 87 113 92 56 
Total interest income1,739 1,641 1,552 1,343 1,155 
Interest expense on:
Deposits260 179 114 50 20 
Short-term borrowings42 5 — — — 
Long-term borrowings56 40 37 31 27 
Total interest expense358 224 151 81 47 
Net interest income 1,381 1,417 1,401 1,262 1,108 
Provision for credit losses118 135 112 135 60 
Net interest income after provision for credit losses1,263 1,282 1,289 1,127 1,048 
Non-interest income:
Service charges on deposit accounts152 155 152 156 165 
Card and ATM fees130 121 130 126 133 
Wealth management income110 112 108 108 102 
Capital markets income68 42 61 93 112 
Mortgage income26 24 24 37 47 
Securities gains (losses), net— (2)— (1)— 
Other90 82 125 86 81 
Total non-interest income576 534 600 605 640 
Non-interest expense:
Salaries and employee benefits603 616 604 593 575 
Equipment and software expense101 102 102 98 97 
Net occupancy expense73 73 74 76 75 
Other334 236 237 403 201 
Total non-interest expense1,111 1,027 1,017 1,170 948 
Income before income taxes728 789 872 562 740 
Income tax expense 147 177 187 133 157 
Net income $581 $612 $685 $429 $583 
Net income available to common shareholders$556 $588 $660 $404 $558 
Weighted-average shares outstanding—during quarter:
Basic939 935 934 934 934 
Diluted939 942 941 940 940 
Actual shares outstanding—end of quarter939 935 934 934 934 
Earnings per common share: (1)
Basic$0.59 $0.63 $0.71 $0.43 $0.60 
Diluted$0.59 $0.62 $0.70 $0.43 $0.59 
Taxable-equivalent net interest income$1,393 $1,430 $1,414 $1,274 $1,119 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.




8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Consolidated Statements of Income (continued) (unaudited)
Six Months Ended June 30
($ amounts in millions, except per share data)20232022
Interest income on:
Loans, including fees$2,814 $1,808 
Debt securities372 295 
Loans held for sale17 19 
Other earning assets 177 85 
Total interest income3,380 2,207 
Interest expense on:
Deposits439 33 
Short-term borrowings47 — 
Long-term borrowings96 51 
Total interest expense582 84 
Net interest income2,798 2,123 
Provision for credit losses253 24 
Net interest income after provision for credit losses2,545 2,099 
Non-interest income:
Service charges on deposit accounts307 333 
Card and ATM fees251 257 
Wealth management income 222 203 
Capital markets income110 185 
Mortgage income50 95 
Securities gains (losses), net(2)— 
Other172 151 
Total non-interest income1,110 1,224 
Non-interest expense:
Salaries and employee benefits1,219 1,121 
Equipment and software expense203 192 
Net occupancy expense146 150 
Other570 418 
Total non-interest expense2,138 1,881 
Income before income taxes1,517 1,442 
Income tax expense 324 311 
Net income $1,193 $1,131 
Net income available to common shareholders$1,144 $1,082 
Weighted-average shares outstanding—during year:
Basic938 936 
Diluted941 943 
Actual shares outstanding—end of period939 934 
Earnings per common share:
Basic$1.22 $1.16 
Diluted$1.22 $1.15 
Taxable-equivalent net interest income$2,823 $2,145 

9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 6/30/20233/31/2023
($ 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 $— 5.02 %$— $— — %
Debt securities (2)
31,588 185 2.35 32,044 187 2.33 
Loans held for sale539 10 7.11 389 7 7.23 
Loans, net of unearned income:
Commercial and industrial (3)
52,039 820 6.29 51,158 763 6.02 
Commercial real estate mortgage—owner-occupied (4)
4,905 64 5.13 5,013 61 4.88 
Commercial real estate construction—owner-occupied292 4 5.73 292 4 5.26 
Commercial investor real estate mortgage6,459 110 6.74 6,444 100 6.23 
Commercial investor real estate construction2,023 38 7.55 1,960 35 7.09 
Residential first mortgage19,427 169 3.48 18,957 161 3.40 
Home equity5,785 90 6.22 5,921 88 5.93 
Consumer credit card1,217 46 15.10 1,214 45 14.93 
Other consumer—exit portfolios450 7 6.31 527 8 6.20 
Other consumer5,984 118 7.91 5,791 108 7.56 
Total loans, net of unearned income98,581 1,466 5.94 97,277 1,373 5.68 
Interest-bearing deposits in other banks6,111 79 5.21 6,508 72 4.49 
Other earning assets1,411 11 3.05 1,340 15 4.70 
Total earning assets 138,231 1,751 5.06 137,558 1,654 4.84 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(3,064)(3,081)
Allowance for loan losses(1,497)(1,427)
Cash and due from banks2,320 2,360 
Other non-earning assets17,784 17,672 
$153,774 $153,082 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $14,701 5 0.12 $15,418 4 0.11 
Interest-bearing checking22,979 63 1.09 24,697 54 0.89 
Money market 31,567 130 1.66 32,522 91 1.13 
Time deposits9,114 62 2.74 6,813 30 1.80 
Total interest-bearing deposits (6)
78,361 260 1.33 79,450 179 0.91 
Federal funds purchased and securities sold under agreements to repurchase17 — 5.23 — — — 
Short-term borrowings3,242 42 5.06 400 5 4.92 
Long-term borrowings3,517 56 6.42 2,286 40 6.91 
Total interest-bearing liabilities85,137 358 1.69 82,136 224 1.10 
Non-interest-bearing deposits (5)
47,178 — — 49,592 — — 
Total funding sources132,315 358 1.08 131,728 224 0.69 
Net interest spread (2)
3.37 3.73 
Other liabilities4,548 4,891 
Shareholders’ equity16,892 16,457 
Noncontrolling interest19 6 
$153,774 $153,082 
Net interest income/margin FTE basis (2)
$1,393 4.04 %$1,430 4.22 %
_______
(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 expense of $29 million for the quarter ended June 30, 2023 and $13 million for the quarter ended March 31, 2023.
(4) Interest income includes hedging expense of $3 million for the quarter ended June 30, 2023 and $2 million for the quarter ended March 31, 2023.
(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 0.83% for the quarter ended June 30, 2023 and 0.56% for the quarter ended March 31, 2023.


10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 12/31/20229/30/20226/30/2022
($ 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 $— 3.56 %$1 $— 2.43 %$— $— — %
Debt securities (2)(3)
32,213 222 2.75 32,101 171 2.12 31,429 157 2.00 
Loans held for sale537 9 6.53 539 8 6.09 704 10 5.39 
Loans, net of unearned income:
Commercial and industrial (4)
50,135 647 5.10 49,120 549 4.42 46,538 480 4.12 
Commercial real estate mortgage—owner-occupied (5)
5,073 55 4.27 5,167 56 4.20 5,204 56 4.31 
Commercial real estate construction—owner-occupied289 4 4.96 274 3 4.53 273 2 3.85 
Commercial investor real estate mortgage6,406 89 5.43 6,115 64 4.06 5,760 39 2.69 
Commercial investor real estate construction1,884 30 6.24 1,764 22 4.77 1,668 14 3.34 
Residential first mortgage18,595 155 3.33 18,125 147 3.24 17,569 137 3.12 
Home equity6,017 81 5.31 6,050 68 4.49 6,082 56 3.76 
Consumer credit card1,207 44 14.34 1,176 40 13.79 1,145 36 12.38 
Other consumer—exit portfolios613 9 6.07 716 10 5.72 836 13 5.93 
Other consumer5,533 107 7.77 6,177 125 8.03 5,689 110 7.73 
Total loans, net of unearned income 95,752 1,221 5.05 94,684 1,084 4.53 90,764 943 4.15 
Interest-bearing deposits in other banks10,600 100 3.74 14,353 81 2.25 22,246 45 0.81 
Other earning assets1,380 13 3.76 1,379 11 3.34 1,445 11 2.79 
Total earning assets
140,483 1,565 4.42 143,057 1,355 3.76 146,588 1,166 3.18 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(3,582)(2,389)(2,107)
Allowance for loan losses(1,447)(1,432)(1,419)
Cash and due from banks2,406 2,291 2,386 
Other non-earning assets17,808 16,895 16,378 
$155,668 $158,422 $161,826 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $15,840 4 0.10 $16,176 5 0.11 $16,200 5 0.12 
Interest-bearing checking25,379 42 0.65 26,665 22 0.33 27,533 6 0.09 
Money market 33,219 57 0.69 31,520 17 0.22 31,348 4 0.05 
Time deposits5,462 11 0.80 5,351 6 0.45 5,600 5 0.34 
Total interest-bearing deposits (6)
79,900 114 0.57 79,712 50 0.25 80,681 20 0.10 
Federal funds purchased and securities sold under agreements to repurchase39 — 3.73 — — — — — — 
Short-term borrowings— — — 30 — 0.23 7 — 1.01 
Long-term borrowings2,275 37 6.38 2,319 31 5.39 2,328 27 4.53 
Total interest-bearing liabilities 82,214 151 0.73 82,061 81 0.39 83,016 47 0.22 
Non-interest-bearing deposits (6)
53,107 — — 55,806 — — 58,911 — — 
Total funding sources135,321 151 0.44 137,867 81 0.23 141,927 47 0.13 
Net interest spread (2)
3.69 3.36 2.95 
Other liabilities4,904 4,082 3,495 
Shareholders’ equity15,442 16,473 16,404 
Noncontrolling interest1 — — 
$155,668 $158,422 $161,826 
Net interest income/margin FTE basis (2)
$1,414 3.99 %$1,274 3.53 %$1,119 3.06 %
_______
(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 $40 million for the quarter ended December 31, 2022 and none for the quarters ended September 30, 2022 and June 30, 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 $43 million for the quarter ended December 31, 2022, none for the quarter ended September 30, 2022, and hedge income of $69 million for the quarter ended June 30, 2022.
(5) Interest income includes hedging expense of $5 million for the quarter ended December 31, 2022, none for the quarter ended September 30, 2022, and hedging income of $9 million for the quarter ended June 30, 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 0.34% for the quarter ended December 31, 2022, 0.15% for the quarter ended September 30, 2022 and 0.06% for the quarter ended June 30, 2022.



11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Net income available to common shareholders (GAAP)$556 $588 $660 $404 $558 $(32)(5.4)%$(2)(0.4)%
Preferred dividends (GAAP)25 24 25 25 25 1 4.2 %— NM
Income tax expense (GAAP)147 177 187 133 157 (30)(16.9)%(10)(6.4)%
Income before income taxes (GAAP)728 789 872 562 740 (61)(7.7)%(12)(1.6)%
Provision for credit losses (GAAP)118 135 112 135 60 (17)(12.6)%58 96.7 %
Pre-tax pre-provision income (non-GAAP)846 924 984 697 800 (78)(8.4)%46 5.8 %
Other adjustments:
Securities (gains) losses, net— 2 — 1 — (2)(100.0)%— NM
Leveraged lease termination gains, net— (1)— — — 1 100.0 %— NM
Insurance proceeds (1)
— — (50)— — — NM— NM
Branch consolidation, property and equipment charges1 2 5 3 (6)(1)(50.0)%7 116.7 %
Professional, legal and regulatory expenses (1)
— — — 179 — — NM— NM
Total other adjustments1 3 (45)183 (6)(2)(66.7)%7 116.7 %
Adjusted pre-tax pre-provision income (non-GAAP)$847 $927 $939 $880 $794 $(80)(8.6)%$53 6.7 %
______
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.





12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Service charges on deposit accounts$152 $155 $152 $156 $165 $(3)(1.9)%$(13)(7.9)%
Card and ATM fees130 121 130 126 133 9 7.4 %(3)(2.3)%
Wealth management income110 112 108 108 102 (2)(1.8)%8 7.8 %
Capital markets income (1)
68 42 61 93 112 26 61.9 %(44)(39.3)%
Mortgage income26 24 24 37 47 2 8.3 %(21)(44.7)%
Commercial credit fee income 28 26 25 26 23 2 7.7 %5 21.7 %
Bank-owned life insurance19 17 17 15 16 2 11.8 %3 18.8 %
Market value adjustments on employee benefit assets-other (2)
— (1)(9)(5)(17)1 100.0 %17 100.0 %
Securities gains (losses), net— (2)— (1)— 2 100.0 %— NM
Insurance proceeds (3)
— — 50 — — — NM— NM
Other miscellaneous income43 40 42 50 59 3 7.5 %(16)(27.1)%
Total non-interest income$576 $534 $600 $605 $640 $42 7.9 %$(64)(10.0)%
Mortgage Income
Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Production and sales$18 $13 $11 $18 $23 $5 38.5 %$(5)(21.7)%
Loan servicing39 38 42 40 28 1 2.6 %11 39.3 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions8 (12)— 28 52 20 166.7 %(44)(84.6)%
MSRs hedge gain (loss)(12)9 (6)(26)(41)(21)(233.3)%29 70.7 %
MSRs change due to payment decay(27)(24)(23)(23)(15)(3)(12.5)%(12)(80.0)%
MSR and related hedge impact(31)(27)(29)(21)(4)(4)(14.8)%(27)NM
Total mortgage income$26 $24 $24 $37 $47 $2 8.3 %$(21)(44.7)%
Mortgage production - portfolio$970 $580 $712 $997 $1,277 $390 67.2 %$(307)(24.0)%
Mortgage production - agency/secondary market450 302 314 526 680 148 49.0 %(230)(33.8)%
Total mortgage production$1,420 $882 $1,026 $1,523 $1,957 $538 61.0 %$(537)(27.4)%
Mortgage production - purchased91.3 %88.3 %87.9 %88.1 %82.9 %
Mortgage production - refinanced8.7 %11.7 %12.1 %11.9 %17.1 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Investment management and trust fee income$77 $76 $76 $74 $72 $1 1.3 %$5 6.9 %
Investment services fee income33 36 32 34 30 (3)(8.3)%3 10.0 %
Total wealth management income (4)
$110 $112 $108 $108 $102 $(2)(1.8)%$8 7.8 %
Capital Markets Income
Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Capital markets income$68 $42 $61 $93 $112 $26 61.9 %$(44)(39.3)%
Less: Valuation adjustments on customer derivatives (5)
(9)(33)(11)21 20 24 72.7 %(29)(145.0)%
Capital markets income excluding valuation adjustments $77 $75 $72 $72 $92 $2 2.7 %$(15)(16.3)%
_________
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)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.
(4)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.
(5)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 Second Quarter 2023 Earnings Release
Non-Interest Income
($ amounts in millions)Six Months EndedYear-to-Date Change 6/30/2023 vs. 6/30/2022
6/30/20236/30/2022AmountPercent
Service charges on deposit accounts$307 $333 $(26)(7.8)%
Card and ATM fees251 257 (6)(2.3)%
Wealth management income222 203 19 9.4 %
Capital markets income (1)
110 185 (75)(40.5)%
Mortgage income50 95 (45)(47.4)%
Commercial credit fee income 54 45 9 20.0 %
Bank-owned life insurance36 30 6 20.0 %
Market value adjustments on employee benefit assets - other (2)
(1)(31)30 96.8 %
Securities gains (losses), net(2)— (2)NM
Other miscellaneous income83 107 (24)(22.4)%
Total non-interest income$1,110 $1,224 $(114)(9.3)%
Mortgage Income
Six Months EndedYear-to-Date Change 6/30/2023 vs. 6/30/2022
($ amounts in millions)6/30/20236/30/2022AmountPercent
Production and sales$31 $66 $(35)(53.0)%
Loan servicing77 55 22 40.0 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions(4)99 (103)(104.0)%
MSRs hedge gain (loss)(3)(93)90 96.8 %
MSRs change due to payment decay(51)(32)(19)(59.4)%
MSR and related hedge impact(58)(26)(32)(123.1)%
Total mortgage income$50 $95 $(45)(47.4)%
Mortgage production - portfolio$1,550 $2,298 $(748)(32.6)%
Mortgage production - agency/secondary market752 1,499 (747)(49.8)%
Total mortgage production $2,302 $3,797 $(1,495)(39.4)%
Mortgage production - purchased90.1 %74.6 %
Mortgage production - refinanced9.9 %25.4 %
Wealth Management Income
Six Months EndedYear-to-Date Change 6/30/2023 vs. 6/30/2022
($ amounts in millions)6/30/20236/30/2022AmountPercent
Investment management and trust fee income$153 $147 $6 4.1 %
Investment services fee income69 56 13 23.2 %
Total wealth management income (3)
$222 $203 $19 9.4 %
Capital Markets Income
Six Months EndedYear-to-Date Change 6/30/2023 vs. 6/30/2022
($ amounts in millions)6/30/20236/30/2022AmountPercent
Capital markets income$110 $185 $(75)(40.5)%
Less: Valuation adjustments on customer derivatives (4)
(42)26 (68)(261.5)%
Capital markets income excluding valuation adjustments $152 $159 $(7)(4.4)%
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.
14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Salaries and employee benefits$603 $616 $604 $593 $575 $(13)(2.1)%$28 4.9 %
Equipment and software expense101 102 102 98 97 (1)(1.0)%4 4.1 %
Net occupancy expense73 73 74 76 75 — — %(2)(2.7)%
Outside services42 39 41 40 38 3 7.7 %4 10.5 %
Marketing26 27 27 29 22 (1)(3.7)%4 18.2 %
Professional, legal and regulatory expenses 20 19 23 199 24 1 5.3 %(4)(16.7)%
Credit/checkcard expenses15 14 14 13 13 1 7.1 %2 15.4 %
FDIC insurance assessments29 25 18 16 13 4 16.0 %16 123.1 %
Visa class B shares expense9 8 7 3 9 1 12.5 %— — %
Operational losses95 13 18 13 13 82 NM82 NM
Branch consolidation, property and equipment charges 1 2 5 3 (6)(1)(50.0)%7 116.7 %
Other miscellaneous expenses97 89 84 87 75 8 9.0 %22 29.3 %
Total non-interest expense$1,111 $1,027 $1,017 $1,170 $948 $84 8.2 %$163 17.2 %
Six Months EndedYear-to-Date Change 6/30/2023 vs. 6/30/2022
($ amounts in millions)6/30/20236/30/2022AmountPercent
Salaries and employee benefits $1,219 $1,121 $98 8.7 %
Equipment and software expense203 192 11 5.7 %
Net occupancy expense146 150 (4)(2.7)%
Outside services81 76 5 6.6 %
Marketing53 46 7 15.2 %
Professional, legal and regulatory expenses 39 41 (2)(4.9)%
Credit/checkcard expenses29 39 (10)(25.6)%
FDIC insurance assessments54 27 27 100.0 %
Visa class B shares expense17 14 3 21.4 %
Operational losses108 25 83 332.0 %
Branch consolidation, property and equipment charges 3 (5)8 160.0 %
Other miscellaneous expenses186 155 31 20.0 %
Total non-interest expense$2,138 $1,881 $257 13.7 %
_________
NM - Not Meaningful



15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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 tables 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) 6/30/20233/31/202312/31/20229/30/20226/30/20222Q23 vs. 1Q232Q23 vs. 2Q22
Non-interest expense (GAAP)A$1,111 $1,027 $1,017 $1,170 $948 $84 8.2 %$163 17.2 %
Adjustments:
Branch consolidation, property and equipment charges (1)(2)(5)(3)6 1 50.0 %(7)(116.7)%
Professional, legal and regulatory expenses (1)
— — — (179)— — NM— NM
Adjusted non-interest expense (non-GAAP)B$1,110 $1,025 $1,012 $988 $954 $85 8.3 %$156 16.4 %
Net interest income (GAAP)C$1,381 $1,417 $1,401 $1,262 $1,108 $(36)(2.5)%$273 24.6 %
Taxable-equivalent adjustment12 13 13 12 11 (1)(7.7)%1 9.1 %
Net interest income, taxable-equivalent basisD$1,393 $1,430 $1,414 $1,274 $1,119 $(37)(2.6)%$274 24.5 %
Non-interest income (GAAP)E$576 $534 $600 $605 $640 $42 7.9 %$(64)(10.0)%
Adjustments:
Securities (gains) losses, net— 2 — 1 — (2)(100.0)%— NM
Leveraged lease termination gains— (1)— — — 1 100.0 %— NM
Insurance proceeds (1)
— — (50)— — — NM— NM
Adjusted non-interest income (non-GAAP)F$576 $535 $550 $606 $640 $41 7.7 %$(64)(10.0)%
Total revenueC+E=G$1,957 $1,951 $2,001 $1,867 $1,748 $6 0.3 %$209 12.0 %
Adjusted total revenue (non-GAAP)C+F=H$1,957 $1,952 $1,951 $1,868 $1,748 $5 0.3 %$209 12.0 %
Total revenue, taxable-equivalent basisD+E=I$1,969 $1,964 $2,014 $1,879 $1,759 $5 0.3 %$210 11.9 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,969 $1,965 $1,964 $1,880 $1,759 $4 0.2 %$210 11.9 %
Efficiency ratio (GAAP) (2)
A/I56.4 %52.3 %50.5 %62.3 %53.9 %
Adjusted efficiency ratio (non-GAAP) (2)
B/J56.4 %52.2 %51.6 %52.6 %54.2 %
Fee income ratio (GAAP) (2)
E/I29.3 %27.2 %29.8 %32.2 %36.4 %
Adjusted fee income ratio (non-GAAP) (2)
F/J29.3 %27.2 %28.0 %32.2 %36.4 %
________
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.






16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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 (continued)
Six Months Ended June 30
($ amounts in millions)202320222023 vs. 2022
Non-interest expense (GAAP)A$2,138 $1,881 $257 13.7 %
Adjustments:
Branch consolidation, property and equipment charges(3)5 (8)(160.0)%
Adjusted non-interest expense (non-GAAP)B$2,135 $1,886 $249 13.2 %
Net interest income (GAAP) C$2,798 $2,123 $675 31.8 %
Taxable-equivalent adjustment25 22 3 13.6 %
Net interest income, taxable-equivalent basisD$2,823 $2,145 $678 31.6 %
Non-interest income (GAAP)E$1,110 $1,224 $(114)(9.3)%
Adjustments:
Securities (gains) losses, net2 — 2 NM
Leveraged lease termination gains(1)(1)— — %
Adjusted non-interest income (non-GAAP)F$1,111 $1,223 $(112)(9.2)%
Total revenueC+E= G$3,908 $3,347 $561 16.8 %
Adjusted total revenue (non-GAAP)C+F=H$3,909 $3,346 $563 16.8 %
Total revenue, taxable-equivalent basisD+E=I$3,933 $3,369 $564 16.7 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$3,934 $3,368 $566 16.8 %
Operating leverage ratio (GAAP) (1)
I-A3.1 %
Adjusted operating leverage ratio (non-GAAP) (1)
J-B3.6 %
Efficiency ratio (GAAP) (1)
A/I54.4 %55.9 %
Adjusted efficiency ratio (non-GAAP) (1)
B/J54.3 %56.0 %
Fee income ratio (GAAP) (1)
E/I28.2 %36.3 %
Adjusted fee income ratio (non-GAAP) (1)
F/J28.2 %36.3 %
______
NM - Not Meaningful
(1)Amounts have been calculated using whole dollar values.





17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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)6/30/20233/31/202312/31/20229/30/20226/30/2022
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY*
Net income available to common shareholders (GAAP)A$556 $588 $660 $404 $558 
Average shareholders' equity (GAAP)$16,892 $16,457 $15,442 $16,473 $16,404 
Less:
Average intangible assets (GAAP)5,966 5,977 5,996 6,019 6,034 
Average deferred tax liability related to intangibles (GAAP) (104)(103)(105)(104)(101)
Average preferred stock (GAAP)1,659 1,659 1,659 1,659 1,659 
Average tangible common shareholders' equity (non-GAAP)B$9,371 $8,924 $7,892 $8,899 $8,812 
Less: Average AOCI, after tax(2,936)(3,081)(3,535)(2,213)(1,921)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)C$12,307 $12,005 $11,427 $11,112 $10,733 
Return on average tangible common shareholders' equity (non-GAAP) (1)
A/B23.82 %26.70 %33.20 %18.02 %25.40 %
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)
A/C18.14 %19.85 %22.91 %14.42 %20.85 %
____
*Annualized
(1)Amounts have been calculated using whole dollar values.
Tangible Common Ratios
The following table provides a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP) and the calculations of the end of period “tangible common shareholders’ equity to tangible assets” and "tangible common book value per share" ratios (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
As of and for Quarter Ended
($ amounts in millions, except per share data)6/30/20233/31/202312/31/20229/30/20226/30/2022
TANGIBLE COMMON RATIOS
Shareholders’ equity (GAAP)A$16,639 $16,883 $15,947 $15,173 $16,507 
Less:
Preferred stock (GAAP)1,659 1,659 1,659 1,659 1,659 
Intangible assets (GAAP)5,959 5,971 5,982 6,005 6,028 
Deferred tax liability related to intangibles (GAAP)(106)(104)(103)(105)(104)
Tangible common shareholders’ equity (non-GAAP)B$9,127 $9,357 $8,409 $7,614 $8,924 
Total assets (GAAP)C$155,656 $154,135 $155,220 $157,798 $160,908 
Less:
Intangible assets (GAAP)5,959 5,971 5,982 6,005 6,028 
Deferred tax liability related to intangibles (GAAP)(106)(104)(103)(105)(104)
Tangible assets (non-GAAP)D$149,803 $148,268 $149,341 $151,898 $154,984 
Shares outstanding—end of quarterE939 935 934 934 934 
Total equity to total assets (GAAP) (1)
A/C10.69 %10.95 %10.27 %9.62 %10.26 %
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
B/D6.09 %6.31 %5.63 %5.01 %5.76 %
Tangible common book value per share (non-GAAP) (1)
B/E$9.72 $10.01 $9.00 $8.15 $9.55 
____
(1)Amounts have been calculated using whole dollar values.
18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022
Components:
Beginning allowance for loan losses (ALL)$1,472 $1,464 $1,418 $1,425 $1,416 
Cumulative change in accounting guidance (1)
— (38)— — — 
Beginning allowance for loan losses (ALL), as adjusted for change in accounting guidance$1,472 $1,426 $1,418 $1,425 $1,416 
Loans charged-off:
Commercial and industrial52 49 38 20 21 
Commercial real estate mortgage—owner-occupied— — 1 — 1 
Total commercial52 49 39 20 22 
Commercial investor real estate mortgage— — 5 — — 
Total investor real estate— — 5 — — 
Residential first mortgage1 — — 1 — 
Home equity—lines of credit1 1 1 2 1 
Home equity—closed-end— — — — — 
Consumer credit card12 12 11 9 10 
Other consumer—exit portfolios3 5 4 4 4 
Other consumer (2)
43 38 33 99 33 
Total consumer60 56 49 115 48 
Total112 105 93 135 70 
Recoveries of loans previously charged-off:
Commercial and industrial21 10 10 12 12 
Commercial real estate mortgage—owner-occupied— — 1 1 1 
Total commercial21 10 11 13 13 
Commercial investor real estate mortgage— — 1 — 1 
Total investor real estate— — 1 — 1 
Residential first mortgage1 — 1 1 1 
Home equity—lines of credit2 3 3 2 4 
Home equity—closed-end— — — — 1 
Consumer credit card1 2 2 2 2 
Other consumer—exit portfolios1 1 1 — 2 
Other consumer5 6 5 7 8 
Total consumer10 12 12 12 18 
Total31 22 24 25 32 
Net charge-offs (recoveries):
Commercial and industrial31 39 28 8 9 
Commercial real estate mortgage—owner-occupied— — — (1)— 
Total commercial31 39 28 7 9 
Commercial investor real estate mortgage— — 4 — (1)
Total investor real estate— — 4 — (1)
Residential first mortgage— — (1)— (1)
Home equity—lines of credit(1)(2)(2)— (3)
Home equity—closed-end— — — — (1)
Consumer credit card11 10 9 7 8 
Other consumer—exit portfolios2 4 3 4 2 
Other consumer38 32 28 92 25 
Total consumer50 44 37 103 30 
Total81 83 69 110 38 
Provision for loan losses (2)
122 129 115 103 47 
Ending allowance for loan losses (ALL)1,513 1,472 1,464 1,418 1,425 
Beginning reserve for unfunded credit commitments124 118 121 89 76 
Provision for (benefit from) unfunded credit losses(4)6 (3)32 13 
Ending reserve for unfunded commitments120 124 118 121 89 
Allowance for credit losses (ACL) at period end$1,633 $1,596 $1,582 $1,539 $1,514 
19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)6/30/20233/31/202312/31/20229/30/20226/30/2022
Net loan charge-offs as a % of average loans, annualized (3):
Commercial and industrial0.24 %0.31 %0.22 %0.07 %0.07 %
Commercial real estate mortgage—owner-occupied0.01 %(0.02)%(0.02)%(0.06)%0.05 %
Commercial real estate construction—owner-occupied(0.27)%(0.05)%(0.02)%(0.08)%(0.01)%
Total commercial0.22 %0.28 %0.19 %0.06 %0.07 %
Commercial investor real estate mortgage— %— %0.27 %(0.01)%(0.04)%
Commercial investor real estate construction(0.04)%— %(0.01)%— %(0.01)%
Total investor real estate(0.01)%— %0.21 %(0.01)%(0.03)%
Residential first mortgage— %— %(0.03)%(0.01)%(0.01)%
Home equity—lines of credit(0.08)%(0.22)%(0.22)%(0.08)%(0.31)%
Home equity—closed-end— %(0.03)%(0.02)%(0.09)%(0.04)%
Consumer credit card3.38 %3.47 %2.94 %2.39 %2.70 %
Other consumer—exit portfolios2.56 %2.69 %2.46 %2.13 %0.80 %
Other consumer (2)
2.55 %2.26 %2.08 %5.92 %1.72 %
Total consumer0.62 %0.55 %0.48 %1.25 %0.39 %
Total0.33 %0.35 %0.29 %0.46 %0.17 %
Non-performing loans, excluding loans held for sale$492 $554 $500 $495 $369 
Non-performing loans held for sale1 1 3 2 3 
Non-performing loans, including loans held for sale493 555 503 497 372 
Foreclosed properties15 15 13 14 11 
Non-performing assets (NPAs)$508 $570 $516 $511 $383 
Loans past due > 90 days (4)
$131 $128 $208 $105 $107 
Criticized loans—business (5)
$4,039 $3,725 $3,149 $2,771 $2,310 
Credit Ratios (3):
ACL/Loans, net1.65 %1.63 %1.63 %1.63 %1.62 %
ALL/Loans, net1.53 %1.50 %1.51 %1.50 %1.52 %
Allowance for credit losses to non-performing loans, excluding loans held for sale332 %288 %317 %311 %410 %
Allowance for loan losses to non-performing loans, excluding loans held for sale308 %266 %293 %287 %386 %
Non-performing loans, excluding loans held for sale/Loans, net0.50 %0.56 %0.52 %0.52 %0.39 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.51 %0.58 %0.53 %0.54 %0.41 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (4)
0.64 %0.71 %0.75 %0.65 %0.52 %
(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 21 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)6/30/20233/31/202312/31/20229/30/20226/30/2022
Net loan charge-offs (GAAP)$81 $83 $69 $110 $38 
Less: charge-offs associated with the sale of unsecured consumer loans— — — 63 — 
Adjusted net loan charge-offs (non-GAAP)$81 $83 $69 $47 $38 
Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) (1)
0.33 %0.35 %0.29 %0.19 %0.17 %
(1)Amounts have been calculated using whole dollar values.
20
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second Quarter 2023 Earnings Release
Non-Performing Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20233/31/202312/31/20229/30/20226/30/2022
Commercial and industrial$297 0.57 %$385 0.74 %$347 0.68 %$333 0.67 %$257 0.53 %
Commercial real estate mortgage—owner-occupied34 0.72 %34 0.68 %29 0.58 %29 0.57 %29 0.55 %
Commercial real estate construction—owner-occupied5 1.60 %6 1.85 %6 1.93 %6 2.22 %10 3.92 %
Total commercial336 0.59 %425 0.74 %382 0.68 %368 0.67 %296 0.55 %
Commercial investor real estate mortgage98 1.51 %67 1.06 %53 0.83 %59 0.93 %3 0.05 %
Total investor real estate98 1.14 %67 0.80 %53 0.63 %59 0.72 %3 0.04 %
Residential first mortgage24 0.12 %26 0.14 %31 0.16 %29 0.16 %27 0.15 %
Home equity—lines of credit28 0.84 %30 0.90 %28 0.79 %32 0.90 %36 1.00 %
Home equity—closed-end6 0.24 %6 0.23 %6 0.24 %7 0.28 %7 0.28 %
Total consumer58 0.17 %62 0.19 %65 0.20 %68 0.22 %70 0.22 %
Total non-performing loans$492 0.50 %$554 0.56 %$500 0.52 %$495 0.52 %$369 0.39 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20233/31/202312/31/20229/30/20226/30/2022
Commercial and industrial $55 0.10 %$47 0.09 %$56 0.11 %$77 0.16 %$37 0.08 %
Commercial real estate mortgage—owner-occupied4 0.09 %7 0.14 %9 0.18 %5 0.09 %5 0.10 %
Total commercial59 0.10 %54 0.09 %65 0.12 %82 0.15 %42 0.08 %
Commercial investor real estate mortgage1 0.01 %1 0.01 %— — %1 — %— — %
Total investor real estate1 0.01 %1 0.01 %— — %1 — %— — %
Residential first mortgage—non-guaranteed (1)
83 0.42 %74 0.39 %86 0.47 %85 0.47 %71 0.41 %
Home equity—lines of credit28 0.85 %28 0.83 %30 0.85 %20 0.58 %16 0.45 %
Home equity—closed-end 10 0.43 %10 0.38 %11 0.44 %11 0.44 %11 0.43 %
Consumer credit card16 1.28 %15 1.24 %16 1.26 %17 1.39 %13 1.11 %
Other consumer—exit portfolios6 1.54 %7 1.38 %10 1.75 %10 1.49 %10 1.31 %
Other consumer79 1.32 %69 1.18 %67 1.18 %49 0.93 %48 0.81 %
Total consumer (1)
222 0.78 %203 0.74 %220 0.82 %192 0.73 %169 0.66 %
Total accruing 30-89 days past due loans (1)
$282 0.29 %$258 0.26 %$285 0.29 %$275 0.29 %$211 0.23 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20233/31/202312/31/20229/30/20226/30/2022
Commercial and industrial$10 0.02 %$23 0.04 %$30 0.06 %$4 0.01 %$4 0.01 %
Commercial real estate mortgage—owner-occupied1 0.02 %— 0.01 %1 0.02 %— — %1 0.02 %
Total commercial11 0.02 %23 0.04 %31 0.05 %4 0.01 %5 0.01 %
Commercial investor real estate mortgage— — %— — %40 0.63 %— — %— — %
Total investor real estate— — %— — %40 0.48 %— — %— — %
Residential first mortgage—non-guaranteed (2)
53 0.28 %47 0.25 %47 0.26 %50 0.28 %50 0.29 %
Home equity—lines of credit19 0.56 %17 0.50 %15 0.44 %17 0.47 %16 0.46 %
Home equity—closed-end 8 0.31 %8 0.36 %8 0.33 %8 0.31 %9 0.36 %
Consumer credit card15 1.26 %15 1.20 %15 1.19 %13 1.12 %11 0.97 %
Other consumer—exit portfolios1 0.18 %1 0.18 %1 0.19 %1 0.20 %2 0.19 %
Other consumer24 0.40 %17 0.30 %17 0.29 %12 0.22 %14 0.23 %
Total consumer (2)
120 0.43 %105 0.42 %103 0.42 %101 0.40 %102 0.41 %
Total accruing 90+ days past due loans (2)
$131 0.13 %$128 0.13 %$174 0.18 %$105 0.11 %$107 0.11 %
Total delinquencies (1) (2)
$413 0.42 %$386 0.39 %$459 0.47 %$380 0.40 %$318 0.34 %
(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 $36 million at 6/30/2023, $37 million at 3/31/2023, $46 million at 12/31/2022, $39 million at 9/30/2022, and $42 million at 6/30/2022.
(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 $24 million at 6/30/2023, $30 million at 3/31/2023, $34 million at 12/31/2022, $26 million at 9/30/2022, and $28 million at 6/30/2022.
21
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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, 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.
•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.
22
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to Second 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.
23
Exhibit 99.3 2nd Quarter Earnings Conference Call July 21, 2023

 
2 Second quarter 2023 overview Continue to generate consistent, sustainable long-term performance (1) Non-GAAP, see appendix for reconciliation. Key Performance Metrics 2Q23 Reported Net Income Available to Common Shareholders $556M Diluted Earnings Per Share $0.59 Total Revenue $2.0B Non-Interest Expense $1.1B Pre-Tax Pre-Provision Income(1) $846M Efficiency Ratio 56.4% Net-Charge Offs / Avg Loans 0.33% Highlights • One of the best ROATCE(1) in the peer group of 23.8% (18.1% ex. AOCI) • Estimated 2Q CET1 10.1% • Continued focus on disciplined capital allocation and risk- adjusted returns • Benefiting from strategic investments in LOBs • The Board of Directors declared a quarterly common stock dividend of $0.24 per share, a 20% increase over 2Q

 
3 • Avg business loans increased 1% reflecting high-quality, broad-based growth across the telecommunications, multi-family, and energy industries ▪ ~84% of 2Q business loan growth was driven by existing clients • Line commitments increased ~$1.5B while utilization decreased to 43.5% • Avg consumer loans increased 1% as growth in avg mortgage and EnerBank offset by declines in home equity and run-off exit portfolios ◦ Other Consumer includes ~4% growth in avg EnerBank loans • Expect 2023 reported ending loan balances to grow 3-4% compared to 2022 Loan growth continues $93.5 $98.1 $99.2 61.6 65.5 66.0 31.9 32.6 33.2 2Q22 1Q23 2Q23 (Ending, $ in billions) $90.7 $97.3 $98.6 59.4 64.9 65.7 31.3 32.4 32.9 2Q22 1Q23 2Q23 Loans and leases (Average, $ in billions) Business loansConsumer loans 1% 1% QoQ highlights & outlook

 
4 $138.3 $128.4 $127.0 85.0 83.3 81.6 41.5 35.2 35.3 9.5 7.9 7.2 2.3 2.0 2.9 2Q22 1Q23 2Q23 $139.5 $129.0 $125.5 85.2 82.2 81.0 41.9 36.3 34.9 10.0 8.4 7.4 2.4 2.1 2.2 2Q22 1Q23 2Q23 Deposits Normalization occurring as expected (1) Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and includes additional wholesale funding arrangements entered into in 2Q23. Wealth Mgt Other(1) Consumer Bank Corporate Bank QoQ highlights & outlook • Deposit base remains a source of strength, balances continue to perform as expected • $4.8B of deposit outflow in 1H23 consistent with expectations; largely from higher balance and more rate-sensitive customers across all 3 businesses • Further diversifying funding sources - total 6/30 deposits include an additional ~$1B of deposits composed of brokered CDs & wholesale market transactions • Corporate Bank customer liquidity under management remains solid; increasing almost 3% QoQ • Ending total deposits are expected to be modestly lower over 2H23 • Focus on attracting and retaining a diverse and granular deposit base with high primacy, which drives loyalty & trust and supports funding stability (Ending, $ in billions) Deposits by Segment (Average, $ in billions)

 
5 Deposit Balances (1) Market rate impacts include contractual loan, cash, hedge and borrowings repricing; fixed asset turnover at higher market rates; securities premium amortization net discount accretion flat vs 1Q at $20M. (2) Expectations assume 06/30/2023 forward rates: upper-end Fed Funds range ends 2023 at ~5.5%; remaining 2023 avg 10-year U.S. Treasury yield 3.79%. A 2% change in the cycle-to-date beta assumption would drive +/- ~$40M to FY23 NII. A $1B change in NIB deposit balances assumption would drive +/- ~$30M to FY23 NII. Market Rates(1) $1,417 $1,381 NII Attribution 2Q23 • NII -$36M, or -2.5% QoQ • NIM -18bps to 4.04% • Higher short-term rates overcome by deposit balance and pricing normalization ◦ 2Q deposit cost = 0.83% ◦ 2Q interest-bearing deposit cost = 1.33% (26% cycle-to-date beta) • Higher long-term rates increase fixed-rate asset yields and reduce securities premium amortization(1) • Avg loan growth of ~$1.3B in 2Q Drivers of NII and NIM 1Q23 -24bps -2bps -5bps+24bps -$82M +$5M -$2M+$82MNII NIM NII & margin performance Days / Other -$39M -11bps $1,119 $1,430 $1,393 3.06% 4.22% 4.04% 2Q22 1Q23 2Q23 • As Fed Funds nears a peak, NII and NIM will see declines from deposit cost normalization and forward starting swaps, offset by asset turnover at higher rates and modest loan growth ◦ 3Q23 NII expected to decline ~5% vs 2Q23 ◦ 2023 NII expected to grow 12-14% vs 2022 • June 30th forward rates drive mid-point of FY23 range (~1 additional 0.25% Fed Funds rate hike) • Assumes ~35% cycle-to-date int-bearing deposit beta by year-end 2023; expected to modestly exceed 35% in 2024 if market rates remain elevated Expectations for 3Q23 & Beyond(2) NII FTE NII and NIM ($ in millions) NIM Deposit Costs Loan Balances -$36M -18bps

 
6 $13.0B $20.4B $19.0B $16.5B $11.7B $5.9B 1 2 3 4 5 6 7 Program Overview • Legacy Hedging Program: Performed as designed, limiting NII & NIM downside during a low-rate environment • 2021: Completed hedge repositioning to purposely open rate exposure prior to rates rising • 2022-23: Added meaningful future protection at rate levels supportive of longer-term margin goals Net Receive Hedge Notional(1) (1) Net receive hedge notional reflects receive-fixed asset hedges minus pay-fixed asset hedges used to manage interest rate risk. (2) Floating rate leg of swaps mostly vs overnight SOFR. (3) 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%. (4) Range excludes any implications from potential future regulatory changes. Hedging strategy update (Quarterly Avg) 1 2 3 4 5 6 3.07% 2.86% 2.92% 2.90% 2.87% 2.81% 2023 2024 2025 2026 2027 2028 $13.0B $20.4B $19.0B $15.5B $10.7B $4.9B (Annual Avg) Current Focus • Monitoring evolution of deposit portfolio and its effect on interest rate sensitivity • No balance sheet trades executed in 2Q apart from transactions related to LIBOR transition • Since quarter-end, added $1B receive-fixed swap (3.48%), and $500M collar (2% floor, 6.195% cap) ◦ Opportunistically extending rate protection in 2026 and beyond ◦ Reducing exposure to rate scenarios where deposit yields approach their lower bound (collars) as of 6/30/2023 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 Swap Notional - 2Q23 $8.6B $15.0B $18.0B $21.0B $21.1B $20.1B $19.5B Swaps Swap Receive Rate(2) 3.02% 3.00% 2.89% 2.89% 2.83% 2.85% Balance Sheet Positioning • Retaining modest asset sensitivity given uncertainty in macroeconomic environment & deposit performance • Constructed balance sheet profile with long-term NIM target range between 3.60% and 4.00%(4) $1.0B $1.5B $1.5B $1.5B $0.5BCollar Notional $0.5B $0.5B $1.5B $1.5B Collars 3.07% 2.86% 2.92% 2.93% 2.92% 2.94% as of 7/14/2023 - Since quarter-end, added $1B swaps and $500M collars Swap Notional - 2Q23 $8.6B $15.0B $18.0B $21.0B $21.1B $20.1B $19.5B Swap Receive Rate(2) 3.02% 3.00% 2.89% 2.89% 2.83% 2.85% $1.0B $2.0B $2.0B $2.0B $1.0BCollar Notional(3) $0.5B $0.5B $1.5B $1.5B

 
7 Adj. Non-Interest Income $640 $535 $576 2Q22 1Q23 2Q23 Change vs ($ in millions) 2Q23 1Q23 1Q22 Service charges $152 (1.9)% (7.9)% Card and ATM fees 130 7.4% (2.3)% Capital markets (Ex CVA/DVA) 77 2.7% (16.3)% Capital markets - CVA/DVA (9) 72.7% (145.0)% Wealth management income 110 (1.8)% 7.8% Mortgage income 26 8.3% (44.7)% Non-interest income (1) Non-GAAP; see appendix for reconciliation. • Expect full-year 2023 adjusted total revenue to be up 6-8% compared to 2022 QoQ outlook Total revenue outlook • Rolled out new Overdraft Grace period feature in late 2Q23; Expect FY23 service charges of ~$575M • Card & ATM Fees increased driven by seasonally higher spend and transaction volume • Total capital markets income increased $26M; ex. CVA/DVA increased 3% driven primarily by growth in real estate capital markets partially offset by declines in M&A fees, debt underwriting and loan syndication income ◦ ($9M) CVA/DVA adjustment reflecting spread tightening during the quarter; $24M improvement vs. 1Q ◦ Expect 3Q23 capital markets revenue in $60-$80M range ex. CVA/DVA Non-Interest Income $640 $534 $576 2Q22 1Q23 2Q23 ($ in millions) ($ in millions) (1)

 
8 $948 $1,027 $1,111 53.9% 52.3% 56.4% Non-interest expense Efficiency ratio 2Q22 1Q23 2Q23 $954 $1,025 $1,110 54.2% 52.2% 56.4% Adjusted non-interest expense Adjusted efficiency ratio 2Q22 1Q23 2Q23 • Non-interest expense increased ~8% on a reported and adjusted basis(1); Ex. incremental $82M associated with check fraud in 2Q, NIE remained stable vs. 1Q ◦ Effective counter measures in place, fraud losses have returned to normalized levels • Salaries & benefits decreased ~2% due to lower payroll taxes and 401(k) expense, partially offset by a full quarter of merit and higher headcount • 2H23 quarterly base FDIC assessment expected to remain at 2Q23 level; special assessment of ~$111M expected to be incurred in 2H23 when NPR becomes final (assumes adopted as drafted; is not included in FY expense guide) • Continuing to prudently manage expenses with recent focus of optimizing square footage; Entered into an agreement to sell two of our largest operation centers in 2Q • FY23 pension-related expense will increase Other NIE ~$40M attributable to increased interest cost due to higher rates & lower return on plan assets driven by changes in asset allocation • Expect full-year 2023 adjusted non-interest expense to increase ~6.5% compared to 2022 • Expect to generate positive adjusted operating leverage in 2023 $3,387 $3,419 $3,434 $3,443 $3,541 $3,698 $3,886 2016 2017 2018 2019 2020 2021 2022 Non-interest expense QoQ highlights & outlookAdj. Non-Interest Expense(1) ($ in millions) 2.3% CAGR (1) (1) Non-GAAP; see appendix for reconciliation. (2) Adjusted NIE in 2020-2022 were impacted by 2Q20 acquisition of Ascentium Capital and 4Q21 acquisitions of EnerBank, Sabal Capital Partners, and ClearSight Advisors. (1) Non-Interest Expense ($ in millions) Adj. Non-Interest Expense(1)(2) ($ in millions)

 
9 • Credit performance continues to normalize as expected • 2Q annualized NCOs totaled 33 bps • 2Q NPLs decreased while business services criticized loans and total delinquencies both increased • 2Q ACL/Loans ratio increased slightly; total ACL increase attributable to normalizing credit, economic outlook changes, and loan growth ◦ ACL on Office Portfolio increased to 2.7%; single office loan on non-performing status is paying as agreed. Continue to feel good about composition of Office Portfolio • Expect full-year 2023 NCOs to be ~35 bps; Expect to return to historical through-the-cycle annual NCOs range of 35-45 bps in 2024 Non-Performing Loans (NPLs) Asset quality Underlying credit performance continues to normalize as expected ($ in millions) ($ in millions) Allowance for Credit Losses (ACL) $1,514 $1,596 $1,633 1.62% 1.63% 1.65% 410% 288% 332% ACL ACL/Loans ACL/NPLs 2Q22 1Q23 2Q23 $38 $83 $81 2Q22 1Q23 2Q23 0.17% 0.35% 0.33% $369 $554 $492 0.39% 0.56% 0.50% NPLs - excluding LHFS NPL/Loans 2Q22 1Q23 2Q23 Net charge-offs ($ in millions) Net Charge-Offs Net Charge-Offs Ratio

 
10 9.2% 9.9% 10.1% 2Q22 1Q23 2Q23 • Common Equity Tier 1 (CET1) ratio(1) increased to 10.1%, reflecting solid capital generation through earnings partially offset by modest loan growth, as well as common & preferred stock dividends • From 4Q23 through 3Q24, the preliminary Stress Capital Buffer will remain at 2.5% • Given current macro-economic conditions & regulatory uncertainty, anticipate continuing to manage CET1 at or modestly above 10% over the near term • In 2Q, Regions declared $187M in common dividends; executed no share repurchases • In July, the Board of Directors declared a quarterly common stock dividend to $0.24 per share, a 20% increase over 2Q • Total primary liquidity (TPL) as of 6/30 was ~$38.5B(3) from readily available sources; TPL including BTFP and Discount Window was ~$53B(3) QoQ Highlights & Outlook Capital and liquidity (1) Current quarter ratios are estimated. (2) Based on ending balances. (3) This includes a $1.9B Bank Term Funding Program par vs. market value benefit. 10.6% 11.2% 11.4% 2Q22 1Q23 2Q23 Tier 1 capital ratio(1) Loan-to-deposit ratio(2) 68% 76% 78% 2Q22 1Q23 2Q23 Common equity Tier 1 ratio(1)

 
11 2023 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 06/30/2023 forward rates: upper-end Fed Funds range ends 2023 at ~5.5%; remaining 2023 avg 10-year U.S. Treasury yield 3.79%. A 2% change in the cycle-to-date beta assumption would drive +/- ~$40M to FY23 NII. A $1B change in NIB deposit balances assumption would drive +/- ~$30M to FY23 NII. FY 2023 Expectations Total Adjusted Revenue (from adjusted 2022 of $7,165)(1)(2)(3) up 6-8% Adjusted Non-Interest Expense (from adjusted 2022 of $3,886)(1)(2) up ~6.5% Adjusted Operating Leverage(1)(2) positive Ending Loans (from ending 2022 of $97,009) up 3-4% Ending Deposits (from ending 6/30/23 of $126,959) modestly lower over 2H23 Net Charge-Offs / Average Loans ~35 bps Effective Tax Rate 21-22% Expectations for 3Q23 & Beyond • 3Q23 NII expected to decline ~5%(3) QoQ; 2023 NII expected to grow 12-14%(3) vs 2022 • Rolled out new Overdraft Grace period feature in late 2Q23; Expect FY23 service charges of ~$575M • Expect 3Q23 capital markets revenue in $60-$80M range ex. CVA/DVA • Expect to return to historical through- the-cycle annual NCOs range of 35-45 bps in 2024 • Given current macro-economic conditions & regulatory uncertainty, anticipate continuing to manage CET1 at or modestly above 10% over the near term

 
12 Appendix

 
13 Selected items impact Second quarter 2023 highlights (1) Non-GAAP, see appendix for reconciliation. (2) Based on income taxes at an approximate 25% incremental rate. (3) Items impacting results or trends during the period, but are not considered non-GAAP adjustments. NM - Not Meaningful ($ amounts in millions, except per share data) 2Q23 QoQ Change YoY Change Net interest income $ 1,381 (2.5)% 24.6% Provision for (benefit from) credit losses 118 (12.6)% 96.7% Non-interest income 576 7.9% (10.0)% Non-interest expense 1,111 8.2% 17.2% Income before income taxes 728 (7.7)% (1.6)% Income tax expense 147 (16.9)% (6.4)% Net income 581 (5.1)% (0.3)% Preferred dividends 25 4.2% NM Net income available to common shareholders $ 556 (5.4)% (0.4)% Diluted EPS $ 0.59 (4.8)% —% Summary of second quarter results (amounts in millions, except per share data) 2Q23 Pre-tax adjusted items(1): Branch consolidation, property and equipment charges $ (1) Total pre-tax adjusted items(1) $ (1) Diluted EPS impact(2) $ — Additional selected items(3): Provision (in excess of) less than net charge-offs $ (37) Capital markets income (loss) - CVA/DVA (9) Residential MSR net hedge performance (4) Incremental operational losses related to check fraud (82)

 
14 (1) May '22 - May '23 (2) Quality Relationships defined as having a cumulative $500K in loans, deposits and IM&T accounts, revenue per Quality Relationship measured over TTM, May '23 vs Dec '22. Investments in our businesses Investments in talent, technology and strategic acquisitions continue to pay off CORPORATE CONSUMER WEALTH Mobile users increased 6.7% YoY Increase in revenue per quality relationship(2) of 5% Clearsight Q2 YTD revenue up 5% vs 2022 Q2 YTD; finalized Sabal marketing & brand transition to Regions Real Estate Capital Markets Implementation of Wealth Client IQ in Institutional Services, resulting in 18% growth in YoY sales production Industry leading Customer Satisfaction Acquired rights to service ~$23B in mortgage loans through combination of bulk and flow deals during last 18 months 1st in VISA Power Score for 37 consecutive quarters on Debit EnerBank generating high quality loans, 784 average FICO for loans originated in 2Q23 Investment Services average monthly revenue up 23%, over 1H22 Streamlined product offering enabling us to meet the needs of high-net-worth clients and prepare for transition to new core system Focused efforts around retention and development of talent by leading with clarity and confidence, realizing a 130 bps reduction in the resignation rate Improved closing time on home equity products; 24% improvement in turn times vs 2Q22 Recruited high quality talent in Regions Business Capital as part of the ABL growth strategy initiative Initiative to streamline credit operations successfully creating consistency & driving faster response times Continued to focus on Small Business: Ascentium Capital loan production up 4% vs 1H22; SBA booked loan volume up 30% vs 2Q22 Continue to grow net consumer checking accounts Treasury Management client base grew 9% YoY(1); Customer penetration exceeding industry benchmark

 
15 Treasury Management Enabling our clients to optimize cash flow and manage risk with a comprehensive & competitive suite of Treasury Management solutions +13% Treasury Management Revenue(1) +9% Portfolio of Treasury Management Clients(2) +13% Digital, Payment & Integrated Services Revenue(3) +29% Global Trade Services Dollar Volume(4) • Delivering capabilities in line with our "Build/Partner/Invest" strategy • Expanding client access via enhanced digital solutions and expanded self-service capabilities • Providing additional online and mobile functionality • Launching new cash flow management tools and leveraging APIs, including new secure connectivity tools for companies’ enterprise systems • Enhancing fraud mitigation resources • Simplifying business travel management with new Commercial Pay solution • Adding Treasury Management sales talent in core & expansion markets as well as product & support functions • Expanding support for subsidiaries of international corporations operating in the U.S. by launching the International Subsidiaries Banking group Steadily Growing our Treasury Management Business Earning Recognition for Excellence in Global Trade Finance Continually Investing in Technology & Talent • Export Working Capital Lender of the Year (2022 & 2019) • #1 SBA Export Lender for 4 Consecutive Years • Export Working Capital Preferred Lender • 2022 Deal of the Year • Lender of the Year (2021) • Highest Delegated Lender Authority • EX-IM Medium Term Note Financing (1) YTD Treasury Management Revenue Growth, June '22 to June '23. (2) YoY Client Growth, May ‘22 to May ‘23. (3) YoY Digital, Payments & Integrated Revenue, June '22 to June '23 (4) YoY Trade Services Dollar Volume Growth, May ‘22 to May ‘23.

 
16 2.19 2.36 2.52 2Q21 2Q22 2Q23 2.28 2.99 3.85 2Q21 2Q22 2Q23 159 159 174 2Q21 2Q22 2Q23 21.4% 22.2% 23.6% 32.2% 32.2% 31.9% 46.4% 45.6% 44.5% 2Q21 2Q22 2Q23 88.7 82.7 99.6 75.4 65.9 79.1 13.3 16.8 20.5 Deposits Lending 2Q21 2Q22 2Q23 68% 71% 74% 32% 29% 26% 2Q21 2Q22 2Q23 Growth in digital Mobile Banking Log-Ins (Millions) Customer Transactions(2)(3) Deposit Transactions by Channel Active Users (Millions) Digital Sales (Accounts in Thousands)(1) Digital Non-Digital Mobile ATMBranch (1) Digital sales represent deposit accounts opened and loans booked. (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 launched across our footprint at the end of 2Q21. +69% +10% 22% 21% 27% 76% 77% 71% 2% 2% 2% 2Q21 2Q22 2Q23 Digital BranchContact Center Consumer Checking Sales by Channel(4) Mobile Banking Mobile App Rating Zelle Transactions (Millions)Sales and TransactionsDigital Usage +12% +15%

 
17 • Portfolio constructed to protect against changes in market rates ◦ Duration of 4.7 years as of 6/30/2023 provides offset to long-duration deposit book ◦ Portfolio is fully extended ◦ ~34% 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 • 96% US Government or Agency guaranteed ◦ $1.1B high quality, investment grade corporate bond portfolio is short-dated (2.2 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 • 97% classified as Available-for-Sale • Pre-Tax unrealized losses on AFS Securities expected to decline ~25% by year end 2024 and ~39% by year end 2025(2) Agency/UST 8% Agency MBS 60% Agency CMBS 28% Non-Agency CMBS —% Corporate Bonds 4% Securities portfolio provides downside rate protection / liquidity Securities portfolio composition(1) $28.1B (1) Includes AFS securities, the $3.3B unrealized AFS loss, and $777M HTM securities as of 6/30/2023 (excludes $59.5M unrealized HTM loss) (2) $ in Billions. Estimated, using market forwards and portfolio as of 6/30/2023 Pre-Tax AFS Unrealized Losses(2) % Represents Cumulative Decline 06/30/23 YE 2023 YE 2024 YE 2025 $(4) $(2) $— -10% -25% -39%

 
18 Higher Risk Industry Segments (Outstanding balances as of June 30, 2023) (1) Amounts exclude PPP loans and Held For Sale loans. (2) CoStar is an industry leader in CRE data & analytics. CoStar data as of March 31, 2023 (3) GreenStreet Commercial Property Price Index as of June 6, 2023 - change in commercial property value for business office at a 27% discount. Business Services High Risk Segments Portfolio ($ in millions) BAL$(1) % of Total Loans NPL NPL/Loans ACL ACL/Loans Consumer Discretionary Goods Retail Trade & Consumer Manufacturing $1,904 1.9% $15 0.8% $39 2.1% Freight Transportation Transportation & Warehousing 1,030 1.0% 17 1.6% 41 4.0% Healthcare Goods and Services & Facilities 1,693 1.7% 24 1.5% 68 4.0% Office 1,770 1.8% 51 2.9% 48 2.7% Senior Housing Offices of Physicians & Other Health Practitioners 1,387 1.4% 48 3.4% 51 3.7% Total High Risk Segments $7,784 7.9% $155 2.0% $247 3.2% • Consumer Discretionary: Impacted by rotation away from pandemic driven spending on housing related goods; consumers are increasingly price sensitive and risks are rising as tighter monetary policies exert their full impact on consumers. • Freight Transportation: Concerns limited to smaller trucking firms operating in the spot market. At the close of 1H23 the market appears to have found a demand floor, though there is no strong evidence that spot rates will sustain their upward trend beyond the typical summer seasonality bump. • Healthcare: The sector has experienced negative risk migration over the last year primarily due to rising costs (labor, goods, lack of pricing power related to insurance reimbursements); financial sponsors have aggressively consolidated fragmented healthcare sub-sectors, fueling higher leverage. • Senior Housing: Senior living occupancy marked eight consecutive quarters of increases in the second quarter, but pre-pandemic levels remain elusive. Ongoing Portfolio Surveillance • Office: As defined by CoStar(2), office secured loan commitments consists of 91% Class A and 9% Class B property types ◦ WA LTV ~58.80% (based on appraisal at origination or most recent received); Sensitized WA LTV ~80.55% using GreenStreet(3) ◦ 62.7% of secured committed exposure is located in the Sunbelt of which 89.8% is Class A. ◦ 74% of secured committed exposure is in Suburban locations with 26% in Urban ◦ Average property leasing status for maturing office loans (next 12 months) is ~91.3% (~89.5% Occupancy) ◦ 38% of secured committed exposure is Single-Tenant ◦ Single loan on NPL status paying as agreed

 
19 Commercial Real Estate(1) Highly Diversified Total IRE Portfolio (including Unsecured CRE) • Unsecured loans for RE purposes generally have low leverage, with strong access to liquidity ◦ 70% of REITs are investment grade or mapped to IG risk rating (provide loss insulation to overall portfolio) ◦ Balance of remaining unsecured is primarily to institutional RE Funds backed by predominantly IG sponsors • Business Offices secured = ~90% / unsecured = ~10% • Total IRE Construction, Land, and Acq. & Dev. to total loans remains low at 2.2% • Total IRE (incl unsec. CRE) to Risk Based Capital(3): 116% and Construction, Land, and Acq. & Dev. to Risk Based Capital: 23% are well below supervisory limits (300%/100%) (1) Outstanding balances as of 06/30/2023. (2) Excludes $5.1 billion of Owner-occupied CRE whose source of repayment are individual businesses, and whose credit performance resembles Commercial during periods of stress. (3) Based off 5/31/2023 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 6.2% Commercial Land 0.1% Other 4.3% Hotel 5.9% Healthcare 8.3% Retail 9.2% Residential Land 0.5% Business Offices 11.3%Diversified 14.6% Condo 0.1% Industrial 14.3% Apartments 25.2% $15.7B $ in billions % of Total Loans Unsecured CRE (incl. REITS) $ 7.04 7.1 % IRE 8.63 8.7 % Total(2) $ 15.67 15.8 % Key Portfolio Metrics Yearly IRE Loan Maturities 21% 31% 26% 12% 7% 3% 2H23 2024 2025 2026 2027 >5years Apartments 7% Business Offices 5% Diversified 24% Hotel 13% Industrial 21% Other 10% Retail 20% REITs within Total: $5.4B

 
20 $1,596 $15 $15 $7 $1,633 Allowance for credit losses waterfall 06/30/2023 • 2Q allowance increased $37M compared to the prior quarter, resulting in a $118M provision expense • Key drivers of the net increase in ACL: ◦ Increased qualitative ACL due to elevated risk in Business Offices and Apartments ◦ Moderate weakening in the economic scenario primarily due to interest rate hikes and the expectation that rates will remain elevated for longer ◦ Continued credit quality normalization ◦ Growth in low-risk products with balance runoff in higher-risk products QoQ highlights ($ in millions) 03/31/2023 Qualitative Changes Economic Changes Loan Growth / Portfolio Changes

 
21 Pre-R&S period 2Q2023 3Q2023 4Q2023 1Q2024 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 Real GDP, annualized % change 1.2 % 0.9 % 0.9 % 1.2 % 1.1 % 1.2 % 1.3 % 1.4 % 1.6 % Unemployment rate 3.5 % 3.6 % 3.8 % 3.9 % 4.1 % 4.2 % 4.3 % 4.3 % 4.2 % HPI, year-over-year % change (1.1) % (3.1) % (4.1) % (4.8) % (3.1) % 0.3 % 2.1 % 2.9 % 3.3 % CPI, year-over-year % change 4.0 % 3.4 % 3.1 % 2.8 % 2.7 % 2.5 % 2.2 % 2.1 % 2.1 % Base R&S economic outlook (as of June 2023) • 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

 
22 As of 6/30/2023 As of 12/31/2022 (in millions) Loan Balance ACL ACL/Loans Loan Balance ACL ACL/Loans C&I $52,300 $677 1.29 % $50,905 $628 1.23 % CRE-OO mortgage 4,797 106 2.21 % 5,103 102 2.00 % CRE-OO construction 292 7 2.31 % 298 7 2.29 % Total commercial $57,389 $790 1.38 % $56,306 $737 1.31 % IRE mortgage 6,500 138 2.12 % 6,393 114 1.78 % IRE construction 2,132 32 1.50 % 1,986 28 1.38 % Total IRE $8,632 $170 1.97 % $8,379 $142 1.69 % Residential first mortgage 19,755 104 0.52 % 18,810 124 0.66 % Home equity lines 3,313 78 2.34 % 3,510 77 2.18 % Home equity loans 2,425 24 1.00 % 2,489 29 1.17 % Consumer credit card 1,231 127 10.33 % 1,248 134 10.75 % Other consumer- exit portfolios 416 31 7.58 % 570 39 6.80 % Other consumer 6,030 309 5.13 % 5,697 300 5.28 % Total consumer $33,170 $673 2.03 % $32,324 $703 2.18 % Total $99,191 $1,633 1.65 % $97,009 $1,582 1.63 % Allowance allocation

 
23 All Other Commercial 3.6% Investor Real Estate 13.1% Financial Services 10.7% CRE Unsecured, including REITs 10.7% Govt. Education 10.0% Consumer Services 8.8% Technology Services 8.5% Manufacturing 7.8% Energy 2.7% Agriculture 0.4% Utilities 4.6% Business Services 7.7% Distribution 6.6% Healthcare 4.8% Well positioned for next downturn $66.0B Highly Diversified Business Portfolio(1) (1) Balances as of 06/30/2023. (2) CRE Unsecured consists 74% of REITs. (2)

 
24 Consumer lending portfolio statistics • Avg. origination FICO 764 • Current LTV 53% • 98% owner occupied • Avg. origination FICO 778 • Current LTV 34% • 67% of portfolio is 1st lien • Avg. loan size $34,791 • $79M to convert to amortizing or balloon during 2023 • Avg. origination FICO 762 • Avg. new loan $12,899 • 2Q23 Yield 7.91% • Avg. origination FICO 755 • 2Q23 Yield 6.31% • 2Q23 QTD NCO 2.56% • Avg. origination FICO 770 • Avg. new line $8,820 • 2Q23 Yield 15.10% • 2Q23 QTD NCO 3.38% 3% 5% 4%5% 12% 6% 8% 17% 10% 81% 64% 77% 3% 2% 3% 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 06/30/2023. (2) Other Consumer consists primarily of EnerBank and Direct portfolios. Residential Mortgage Consumer - Exit Portfolios Consumer Credit Card Home Equity Other Consumer(2)

 
25 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 stockholders’ equity 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 stockholders’ equity measure. Because tangible common stockholders’ equity 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. 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 Non-GAAP information

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

 
27 Non-GAAP reconciliation Pre-tax pre-provision income (PPI) Quarter Ended ($ amounts in millions) 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022 2Q23 vs. 1Q23 2Q23 vs. 2Q22 Net income available to common shareholders (GAAP) $ 556 $ 588 $ 660 $ 404 $ 558 $ (32) (5.4) % $ (2) (0.4) % Preferred dividends (GAAP) 25 24 25 25 25 1 4.2 % — NM Income tax expense (GAAP) 147 177 187 133 157 (30) (16.9) % (10) (6.4) % Income before income taxes (GAAP) 728 789 872 562 740 (61) (7.7) % (12) (1.6) % Provision for (benefit from) credit losses (GAAP) 118 135 112 135 60 (17) (12.6) % 58 96.7 % Pre-tax pre-provision income (non-GAAP) 846 924 984 697 800 (78) (8.4) % 46 5.8 % Other adjustments: Securities (gains) losses, net — 2 — 1 — (2) (100.0) % — NM Leveraged lease termination gains, net — (1) — — — 1 100.0 % — NM Insurance proceeds — — (50) — — — NM — NM Branch consolidation, property and equipment charges 1 2 5 3 (6) (1) (50.0) % 7 116.7 % Professional, legal and regulatory expenses — — — 179 — — NM — NM Total other adjustments 1 3 (45) 183 (6) (2) (66.7) % 7 116.7 % Adjusted pre-tax pre-provision income (non-GAAP) $ 847 $ 927 $ 939 $ 880 $ 794 $ (80) (8.6) % $ 53 6.7 % NM - Not Meaningful

 
28 Non-GAAP reconciliation NII, non-interest income/expense, and efficiency ratio NM - Not Meaningful Quarter Ended ($ amounts in millions) 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022 2Q23 vs. 1Q23 2Q23 vs. 2Q22 Non-interest expense (GAAP) A $ 1,111 $ 1,027 $ 1,017 $ 1,170 $ 948 $ 84 8.2 % $ 163 17.2 % Adjustments: Branch consolidation, property and equipment charges (1) (2) (5) (3) 6 1 50.0 % (7) (116.7) % Professional, legal and regulatory expenses — — — (179) — — NM — NM Adjusted non-interest expense (non-GAAP) B $ 1,110 $ 1,025 $ 1,012 $ 988 $ 954 $ 85 8.3 % $ 156 16.4 % Net interest income (GAAP) C $ 1,381 $ 1,417 $ 1,401 $ 1,262 $ 1,108 $ (36) (2.5) % $ 273 24.6 % Taxable-equivalent adjustment 12 13 13 12 11 (1) (7.7) % 1 9.1 % Net interest income, taxable-equivalent basis D $ 1,393 $ 1,430 $ 1,414 $ 1,274 $ 1,119 $ (37) (2.6) % $ 274 24.5 % Non-interest income (GAAP) E 576 534 600 605 640 42 7.9 % (64) (10.0) % Adjustments: Securities (gains) losses, net — 2 — 1 — (2) (100.0) % — NM Leveraged lease termination gains — (1) — — — 1 100.0 % — NM Insurance Proceeds — — (50) — — — NM — NM Adjusted non-interest income (non-GAAP) F $ 576 $ 535 $ 550 $ 606 $ 640 41 7.7 % $ (64) (10.0) % Total revenue C+E=G $ 1,957 $ 1,951 $ 2,001 $ 1,867 $ 1,748 $ 6 0.3 % $ 209 12.0 % Adjusted total revenue (non-GAAP) C+F=H $ 1,957 $ 1,952 $ 1,951 $ 1,868 $ 1,748 $ 5 0.3 % $ 209 12.0 % Total revenue, taxable-equivalent basis D+E=I $ 1,969 $ 1,964 $ 2,014 $ 1,879 $ 1,759 $ 5 0.3 % $ 210 11.9 % Adjusted total revenue, taxable-equivalent basis (non-GAAP) D+F=J $ 1,969 $ 1,965 $ 1,964 $ 1,880 $ 1,759 $ 4 0.2 % $ 210 11.9 % Efficiency ratio (GAAP) A/I 56.4 % 52.3 % 50.5 % 62.3 % 53.9 % Adjusted efficiency ratio (non-GAAP) B/J 56.4 % 52.2 % 51.6 % 52.6 % 54.2 % Fee income ratio (GAAP) E/I 29.3 % 27.2 % 29.8 % 32.2 % 36.4 % Adjusted fee income ratio (non-GAAP) F/J 29.3 % 27.2 % 28.0 % 32.2 % 36.4 %

 
29 Non-GAAP reconciliation NII, non-interest income/expense, and efficiency ratio Twelve Months Ended December 31 ($ amounts in millions) 2022 Non-interest expense (GAAP) A $ 4,068 Adjustments: Branch consolidation, property and equipment charges (3) Professional, legal and regulatory expenses (179) Adjusted non-interest expense (non-GAAP) B $ 3,886 Net interest income (GAAP) C $ 4,786 Taxable-equivalent adjustment 47 Net interest income, taxable-equivalent basis D $ 4,833 Non-interest income (GAAP) E $ 2,429 Adjustments: Securities (gains) losses, net 1 Leveraged lease termination gains (1) Insurance proceeds (50) Adjusted non-interest income (non-GAAP) F $ 2,379 Total revenue C+E= G $ 7,215 Adjusted total revenue (non-GAAP) C+F=H $ 7,165 Total revenue, taxable-equivalent basis D+E=I $ 7,262 Adjusted total revenue, taxable-equivalent basis (non-GAAP) D+F=J $ 7,212 Efficiency ratio (GAAP) A/I 56.0 % Adjusted efficiency ratio (non-GAAP) B/J 53.9 % Fee income ratio (GAAP) E/I 33.5 % Adjusted fee income ratio (non-GAAP) F/J 33.0 %

 
30 Quarter Ended ($ amounts in millions) 6/30/2023 3/31/2023 12/31/2022 9/30/2022 6/30/2022 RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY Net income available to common shareholders (GAAP) A $ 556 $ 588 $ 660 $ 404 $ 558 Average shareholders' equity (GAAP) $ 16,892 $ 16,457 $ 15,442 $ 16,473 $ 16,404 Less: Average intangible assets (GAAP) 5,966 5,977 5,996 6,019 6,034 Average deferred tax liability related to intangibles (GAAP) (104) (103) (105) (104) (101) Average preferred stock (GAAP) 1,659 1,659 1,659 1,659 1,659 Average tangible common shareholders' equity (non-GAAP) B $ 9,371 $ 8,924 $ 7,892 $ 8,899 $ 8,812 Less: Average AOCI, after-tax (2,936) (3,081) (3,535) (2,213) (1,921) Average tangible common shareholders' equity excluding AOCI (non- GAAP) C $ 12,307 $ 12,005 $ 11,427 $ 11,112 $ 10,733 Return on average tangible common shareholders' equity (non-GAAP) A/B 23.82 % 26.70 % 33.20 % 18.02 % 25.40 % Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) A/C 18.14 % 19.85 % 22.91 % 14.42 % 20.85 % Non-GAAP reconciliation Return on average tangible common shareholders' equity

 
31 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 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. Forward-looking statements

 
32 • 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, 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. • 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. • 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. Forward-looking statements (continued)

 
33 • 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. Forward-looking statements (continued)

 
34 ®

 
v3.23.2
Document and Entity Information
Jul. 21, 2023
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jul. 21, 2023
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 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B
Trading Symbol RF PRB
Security Exchange Name NYSE
Series C 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 E 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
Regions Financial (NYSE:RF-E)
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