Regions Financl Stock Price, News & Analysis

Kate Danella, head of Regions Bank's Consumer Banking Group, has been honored as one of the '25 Most Powerful Women in Banking' by American Banker magazine for the third consecutive year. This recognition marks her sixth consecutive year of accolades from the publication. Danella's leadership has been instrumental in implementing customer-centric innovations such as Regions Greenprint® plans, Regions Early Pay, and Regions Overdraft Grace.

John Turner, President and CEO of Regions Financial Corp, praised Danella's commitment to providing personalized financial solutions and her role in enhancing customer experiences. Under her guidance, Regions Bank has streamlined business checking offerings and improved account options. These efforts have contributed to Regions earning a top reputation in the banking industry, as evidenced by its recent inclusion in American Banker's Top 20 Banks By Reputation list.

Regions Bank (NYSE: RF) has announced a reduction in its prime lending rate from 8.50% to 8.00%. This change will take effect on Thursday, September 19, 2024. The prime lending rate is a key benchmark used by banks to set interest rates for various types of loans, including mortgages, personal loans, and business loans.

This decrease in the prime rate could potentially lead to lower borrowing costs for Regions Bank customers, which may stimulate lending activity and economic growth in the areas served by the bank. However, it's important to note that a lower prime rate could also impact the bank's interest income.

Auburn University's Rural Studio celebrates its 30th anniversary, with support from Regions Bank. The program, part of the School of Architecture, Planning and Landscape Architecture, focuses on community service learning and affordable housing. Regions Bank has provided matching funds for a new affordable housing initiative in Selma, Alabama, aimed at aiding tornado recovery efforts.

Founded in 1993, Rural Studio has built over 220 projects in Alabama's Black Belt and educated more than 1,200 students. The program's Front Porch Initiative collaborates with national and local partners to address infrastructure and financial challenges in affordable housing. Recent projects include housing recovery efforts in Nashville, Tennessee, and Marianna, Florida.

The Selma initiative will utilize a $500,000 USDA grant and matching contributions to build sustainable homes, enhance community resilience, and provide opportunities for local economic growth.

Regions Bank has been instrumental in expanding Rural Studio's reach, including contributing to a newly opened Auburn facility in Birmingham.

Regions Financial Corp. (NYSE:RF) has announced its schedule for releasing third quarter 2024 financial results on Friday, October 18, 2024. The company will make its news release and additional materials available on the Investor Relations website before the market opens. Following this, Regions executives will host a live audio webcast at 10 a.m. ET to discuss the results, which will include an accompanying slide presentation. Investors and interested parties can access the webcast through ir.regions.com. For those unable to attend the live event, an archived recording will be made available on the same website after the presentation concludes.

Jordyn Wright, a young entrepreneur and ICCC alumna, continues to grow her businesses while pursuing higher education. She founded J. Brielle Handmade Goods, a bath and body products company, in 2018 to address skin conditions like eczema. Wright also runs Passion to Purpose, a platform teaching youth entrepreneurship that has reached 200 budding business owners. Her participation in the Regions Bank-sponsored Inner City Capital Connections (ICCC) program provided valuable insights on financial principles, budgeting, and cash flow management. Wright emphasizes the importance of pivoting in business and encourages other entrepreneurs to participate in ICCC workshops. The next ICCC workshop is scheduled for October in Miami, with applications open until September 13, 2024.

Regions Bank hosted its third annual CDFI Convening, bringing together 14 CEOs and leaders from Community Development Financial Institutions across the bank's footprint. The event focused on shared priorities for community growth and success. Key discussions included:

- Economic landscape and risk management
- Human resources and talent development
- Brand storytelling and stakeholder engagement
- Consumer banking innovations
- Climate risk and energy efficiency financing
- CDFI organizational structure and objectives

The convening emphasized the critical role of CDFIs in providing responsible, affordable lending to disadvantaged communities. Regions Bank continues to support CDFIs through lending, investments, shared services, and technical assistance, recognizing their unique ability to serve communities in ways that larger banks cannot.

Regions Bank supports Peer Power Foundation, a Memphis-based nonprofit focusing on workforce development. The program, led by Marlon Ross Jr., aims to break the cycle of poverty by providing job skills and holistic support to at-risk youth. Key points:

• 90% of students have witnessed homicide; some have committed misdemeanors
• Program teaches forklift operation, metalworking, and supply chain logistics
• Includes 'essential skills' training: professionalism, financial education, and therapy
• Emphasizes accountability and overcoming limitations
• Aims to address workforce needs in Memphis and beyond

The program has shown positive results, with students reporting improved perspectives and life skills. Regions Bank supports this initiative financially and through volunteerism.

Regions Bank's Technology, Operations, Digital and Data interns participated in a volunteer event at Avondale Park in Birmingham, Alabama, as part of the bank's 'What A Difference A Day Makes' program. The event, held on National Intern Day (July 25), involved light landscaping around the park's rose garden. This initiative was coordinated with Friends of Avondale Park, a volunteer organization that supports the city's Parks and Rec department.

The internship program aims to introduce students to Regions' culture and values, including community involvement. Despite inclement weather, the interns demonstrated teamwork and enthusiasm. The experience is part of Regions' Emerging Talent program, which often leads to full-time employment opportunities for graduates.

Regions Bank is supporting Kids' Meals, a Houston nonprofit, through its New Markets Tax Credit (NMTC) investment. This funding will help Kids' Meals expand its operations with a new 50,000 square-foot facility, enabling them to serve 26,000 preschool-aged children daily by 2031. The investment supports the retention of 46 permanent full-time employees and will increase meals served annually from 2.1 million to 6.5 million.

Kids' Meals, founded in 2006, aims to end childhood hunger in Houston. The organization currently delivers 2.7 million meals annually across 50+ Houston-area zip codes. Besides meal delivery, Kids' Meals partners with 70+ community organizations to provide additional resources like education, job training, and health support to families.