Regions Financial Corporation reported full-year 2024 net income of $1.8 billion, or $1.93 per diluted share. Regions is based in Birmingham, Alabama. The results were announced on 17 January 2025 and included fourth-quarter 2024 net income of $508 million, equivalent to $0.56 per diluted share. Regions' franchise is concentrated across the South, Midwest, and Texas.
On an adjusted basis, which the company uses to exclude notable items such as securities repositioning losses and severance charges, full-year 2024 diluted earnings per share came in at $2.12. Regions says it identifies adjusted items so investors can analyse its operating results on the same basis as management.
NET INTEREST MARGIN
Net interest margin edged up 1 basis point to 3.55 per cent in the fourth quarter of 2024, supported by sequential growth in net interest income on a quarter-over-quarter basis.
Regions' deposit franchise spans a footprint that includes Alabama, Tennessee, Georgia, Florida, Louisiana, Mississippi, Arkansas, Texas, Indiana, Illinois, and other south-eastern and mid-western states. Chief executive John Turner said the bank's growth plan was aided by "the continued strength of the markets where we do business".
CAPITAL RATIOS AND CREDIT QUALITY METRICS
The Common Equity Tier 1 capital ratio reached 10.8 per cent at year-end. Net charge-offs for the full year came in at 47 basis points of average loans, a rate that management has contextualised as appropriate given the credit environment across its loan categories, which include commercial real estate, commercial and industrial, consumer, and residential mortgage segments. The allowance for credit losses ratio stood at 1.79 per cent, providing a reserve buffer that the bank considers sized appropriately for its current portfolio risk profile.
Regions described the 2024 performance as having established a strong foundation for 2025 — after record revenue in its capital markets and wealth management businesses and its treasury management products and services.