Regions said net income available to common shareholders for 1Q24 was $343M, diluted earnings per share were $0.37, and net income was $368M, down 5.9% from the prior quarter.

8-KRegulation FD DisclosureFiled Apr 25, 2024Period of report Apr 25, 2024Summary published (UTC) Oct 27, 2026

Key points

AI summary

Regions said net income available to common shareholders for 1Q24 was $343M, diluted earnings per share were $0.37, and net income was $368M, down 5.9% from the prior quarter.
The company said net interest income for 1Q24 was $1,184M, down $47M (3.8%) from the prior quarter, and net interest margin fell 5 basis points to 3.55%. It expects full-year 2024 net interest income of $4.7 to $4.8 billion.
The company said it sold about $1.3 billion of AFS securities in 1Q24, realizing a pre-tax loss of $50 million, and reinvested the sale proceeds at market yields 1.9% higher than the securities sold.
The company said net charge-offs for 1Q24 were $121M (an annualized 0.50% of average loans). It also said its allowance for credit losses (ACL) was $1,731M and ACL to loans was 1.79%. It expects full-year 2024 net charge-offs of 40 to 50 basis points.

Summary

AI-written

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.

1Q24 Net Income and Diluted EPS

Regions said net income available to common shareholders for 1Q24 was $343M, diluted earnings per share were $0.37, and net income was $368M, down 5.9% from the prior quarter.

Source · Based on the filing body and exhibits

1Q24 Net Interest Income and Net Interest Margin

The company said net interest income for 1Q24 was $1,184M, down $47M (3.8%) from the prior quarter, and net interest margin fell 5 basis points to 3.55%. It expects full-year 2024 net interest income of $4.7 to $4.8 billion.

Source · Based on the filing body and exhibits

1Q24 Securities Sale Losses

The company said it sold about $1.3 billion of AFS securities in 1Q24, realizing a pre-tax loss of $50 million, and reinvested the sale proceeds at market yields 1.9% higher than the securities sold.

Source · Based on the filing body and exhibits

1Q24 Credit Metrics and Allowance

The company said net charge-offs for 1Q24 were $121M (an annualized 0.50% of average loans). It also said its allowance for credit losses (ACL) was $1,731M and ACL to loans was 1.79%. It expects full-year 2024 net charge-offs of 40 to 50 basis points.

Source · Based on the filing body and exhibits

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.

View the original filing on SEC EDGAR ↗

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