Regions Financl Stock Price, News & Analysis

Regions Bank Senior Community Development manager Mike Scott has been awarded the 2024 Tru-Impact Community Advocate Award by TruFund Financial Services. The recognition highlights Scott's exceptional leadership in providing capital access to underserved entrepreneurs and fostering economic growth. Based in New Orleans, Scott has spent 17 years working on community development initiatives, including affordable housing, neighborhood stabilization, and small business support programs. TruFund praised Regions as an exemplary partner in their Southern Region, noting Scott's instrumental role in creating a more equitable small business environment through mentorship and technical assistance.

The Regions Foundation, primarily funded by Regions Bank, partners with PeopleFund to support entrepreneurs through the Small Business Accelerator Program in Texas. The article highlights Lilye Lavender, founder of Laveña Luxe Interiors in Austin, who participated in the eight-week program. Under the guidance of PeopleFund advisor Anthony Lopez, Lavender received coaching on marketing, strategic growth, and access to capital. The program helped her scale her custom drapery business, which she launched in March 2023 after transitioning from corporate work and fashion school. The partnership demonstrates PeopleFund's commitment to empowering entrepreneurs with business insights and resources for sustainable growth.

Regions Bank hosted a 'Try on a Disability' experience at their Operations Center in Birmingham, Alabama, organized by the Alabama Department of Rehabilitation Services. Associates participated in simulations of various disabilities including multiple sclerosis, blindness, and cognitive impairments to better understand the daily challenges faced by people with disabilities. The event was part of National Disability Employment Awareness Month observance.

The bank has been named a 'Best Place to Work for Disability Inclusion' for four consecutive years and introduced MagnusCards® in 2024, a solution providing step-by-step guidance for neurodivergent customers' banking needs.

The Regions Foundation has announced $200,000 in disaster-recovery grants following Hurricane Milton. The funding will be distributed among three organizations: $150,000 to the American Red Cross, $25,000 to Feeding Tampa Bay, and $25,000 to United Way Suncoast. Additionally, Regions Bank is offering special disaster-recovery financial services, including ATM fee waivers, mortgage relief programs, loan payment assistance, and interest rate discounts on new loans. Most Florida branches have reopened, with a few remaining temporarily closed due to power outages or minor repairs.

Regions Bank has appointed Ray Hand as Private Wealth Management regional executive for Florida. Hand brings over 30 years of industry experience, joining from Truist Bank where he served as executive vice president and Florida division director for Truist Wealth. In his new role, Hand will lead teams providing wealth planning, financial guidance, and investment services across multiple Florida markets including Miami-Dade, Fort Lauderdale, West Palm Beach, Orlando, Tampa Bay, Jacksonville, and others. He will collaborate with various Regions divisions to deliver Regions360 solutions for clients.

Regions Bank has announced disaster-recovery financial services for Florida communities affected by Hurricane Milton. The bank is offering several temporary relief measures including: waived ATM surcharges, mortgage disaster relief programs, payment deferrals for credit cards and business loans, penalty-free CD withdrawals, and interest rate discounts on various loans. Special disaster response rates include 0.50% discounts on personal unsecured loans, business loans up to $1 million, and auto loans. The bank has established dedicated contact centers for customer support and is conducting assessments of impacted branches across Florida. The Regions Foundation is expected to announce grant funding for organizations providing disaster relief.

Cetera Financial Group announced the renewal of its networking agreement with Regions Bank through Cetera Financial Institutions. The collaboration, which began in 2013, supports Regions Investment Solutions in providing comprehensive investment services. The renewal follows nearly 40 financial institution renewals through July 2024, maintaining Cetera Financial Institutions' 99% retention rate. Cetera Investment Services, celebrating its 40-year anniversary, continues to expand its partnerships, recently adding California Coast Credit Union to its network of over 450 banks and credit unions.

Regions Financial Corp. (NYSE:RF) reported third quarter 2024 earnings of $446 million, with earnings per diluted share of $0.49. The company's total revenue reached $1.8 billion, including $721 million in reported pre-tax pre-provision income and $799 million in adjusted pre-tax pre-provision income. Notable items impacted earnings, reducing reported EPS by $0.08.

Key highlights include:

• Net interest income increased 3% to over $1.2 billion
• Non-interest income grew 5% on a reported basis and 9% on an adjusted basis
• Net interest margin expanded by 3 basis points to 3.54%
• Efficiency ratio was 59.3% on a reported basis and 56.9% on an adjusted basis
• Average loans and leases remained relatively stable
• Deposits showed stability with a slight 0.2% decrease in ending balances
• Net charge-offs were $117 million or 48 basis points of average loans
• Common Equity Tier 1 ratio improved to 10.6%

Regions Financial (NYSE:RF) has declared quarterly dividends on its common and preferred stock. The Board of Directors announced a $0.25 cash dividend per common share, payable on Jan. 2, 2025, to stockholders of record as of Dec. 2, 2024. Additionally, dividends were declared on various series of preferred stock:

• Series C: $14.25 per share (approx. $0.35625 per depositary share), payable Nov. 15, 2024
• Series D: $1,437.50 per share (approx. $14.375 per depositary share), payable Dec. 16, 2024
• Series E: $11.125 per share (approx. $0.278125 per depositary share), payable Dec. 16, 2024
• Series F: $17.375 per share (approx. $0.434375 per depositary share), payable Dec. 16, 2024

All preferred stock dividends will be paid to stockholders of record as of their respective dates in late 2024.