Strong Quarterly Earnings
Regions Financial Corporation reported strong quarterly earnings of $534 million, resulting in earnings per share of $0.59. On an adjusted basis, earnings were $538 million, or $0.60 per share.
Growth in Average Deposits
Average deposits grew across every one of the 8 priority markets, with more than 30% organic growth in total average deposits over the last 5 years.
Increased Fee Revenue
Treasury management revenue is up 8% year-to-date, with a 10% increase in the total number of clients served. Wealth management generated another quarter of record fee income.
Return on Tangible Common Equity
Regions delivered a return on tangible common equity of 19%.
Positive Asset Quality Metrics
Asset quality metrics are improving, with annualized net charge-offs as a percentage of average loans decreasing 5 basis points to 47 basis points.
Dividend Increase
Regions announced a 6% increase in the common dividend and has increased its dividend at a 10-plus percent compounded annual growth rate over the last 6 years.