Regions Financial Corporation, headquartered in Birmingham, Alabama, specializes in providing consumer and commercial banking, wealth management, and mortgage services. The company reported a strong performance in the fourth quarter and full year 2024, maintaining a growth trajectory marked by record revenues in key segments.

For the fourth quarter of 2024, Regions reported a net income of $534 million and diluted earnings per common share of $0.56, reflecting an increase of 38.4% from $391 million in the fourth quarter of 2023. For the full year, net income available to common shareholders totaled $1.8 billion, resulting in earnings per share of $1.93, compared to $2.11 in 2023.

Total revenue for the fourth quarter reached $1.8 billion, up 0.2% from $1.81 billion a year earlier. Notably, net interest income was $1.23 billion, representing a 1.0% increase from the previous quarter, while the net interest margin remained stable at 3.55%. Average loans decreased by 1.7% year-over-year to $96.7 billion, with notable declines in commercial and industrial loans—down 3.1% to $49.4 billion.

Regions’ deposit base was relatively stable within the quarter, with total deposits at $127.6 billion, a slight increase of 0.1% from the previous year. Interest-bearing deposits grew by 4.6% to $87.1 billion, while non-interest-bearing deposits fell by 8.7% to $39.4 billion. The company’s efficiency ratio improved to 56.8% during the fourth quarter, compared to 65.0% in the same quarter last year.

The adjusted non-interest income reached $615 million, down 5.4% from the previous quarter but increased by 5.9% year-over-year. The capital markets segment led this growth, generating $97 million in capital markets income, a significant increase from $48 million in the fourth quarter of 2023.

Regions continued to manage non-interest expenses effectively, reporting a decrease of 12.4% year-over-year to $1.04 billion in the fourth quarter. Adjusted non-interest expenses fell by 3.7% sequentially. The company expects its adjusted non-interest expense to grow by approximately 1% to 3% in 2025, driven partly by investments in talent and technology.

As for asset quality, the provision for credit losses was $120 million, closely matching net charge-offs of $119 million. The allowance for credit losses remained stable at 1.79% of total loans. The company’s capital position also remains solid, with a Common Equity Tier 1 ratio of 10.8%, reflecting a strong equity base relative to risk-weighted assets.

Looking ahead, Regions anticipates modest growth in average loans of approximately 1% for 2025, while exploring opportunities to build on its deposit advantage and expand within priority markets, bolstered by ongoing investments in banking talent and technology.