Regions Financial said it reported net income available to common shareholders of $367M for 4Q23, with diluted EPS of $0.39. For FY23, it reported $2.0B and diluted EPS of $2.11, and pre-tax pre-provision income for the full year of $3.2B.

1. 01

   Regions Financial said it reported net income available to common shareholders of $367M for 4Q23, with diluted EPS of $0.39. For FY23, it reported $2.0B and diluted EPS of $2.11, and pre-tax pre-provision income for the full year of $3.2B.

2. 02

   The company said NII for 4Q23 fell $60M (4.6%) from the prior quarter and NIM was 3.60%. It expects full-year 2024 NII of $4.7 to $4.8B, a decline of 3 to 5% in 1Q24 NII, and a NIM of about 3.50%.

3. 03

   The company said non-interest expense for 4Q23 was $1,185M, up about 8% from 3Q23, and that it included an $119M FDIC special assessment and $28M in severance-related costs.

4. 04

   The company said net charge-offs for 4Q23 were 54 basis points (adjusted 39 basis points), the ACL to loans ratio was 1.73%, and the ACL was $1,700M. It expects full-year 2024 net charge-offs of 40 to 50 basis points.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.