Regions Financial said it reported net income for Q2 2024 of $501 million, net income available to common shareholders of $477 million, and diluted earnings per share of $0.52. For the prior quarter (3/31/2024), the figures were $368 million, $343 million and $0.37, respectively.

1. 01

   Regions Financial said it reported net income for Q2 2024 of $501 million, net income available to common shareholders of $477 million, and diluted earnings per share of $0.52. For the prior quarter (3/31/2024), the figures were $368 million, $343 million and $0.37, respectively.

2. 02

   The company said net interest income for Q2 was $1,186 million, roughly flat from $1,184 million in the prior quarter, and net interest margin (FTE) fell to 3.51% from 3.55%. The company cited holding higher cash balances as the reason for the decline.

3. 03

   Regions Financial said non-interest expense for Q2 was $1,004 million, down 11% from $1,131 million in the prior quarter. The company attributed the decrease to lower salaries and employee benefits and lower operational losses, which fell from $42 million to $18 million.

4. 04

   Regions Financial said its provision for credit losses for Q2 was $102 million, and net charge-offs were $101 million, or 0.42% of average loans on an annualized basis. The company said its allowance for credit losses (ACL) was $1,732 million at quarter-end, or 1.78% of loans.

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

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