Regions reports 2020 earnings of $991 million and earnings per share of $1.03
Regions Financial Corporation (NYSE:RF) today announced earnings for the fourth quarter and full year ended December 31, 2020. The company reported fourth quarter net income available to common shareholders of
“At Regions, 2020 was a year of really good execution and outstanding teamwork built around a shared vision of serving customers and communities in helpful and innovative ways. As a result of our team's focus and dedication, we made a meaningful difference for those we serve, while delivering solid financial results, controlling expenses, and proactively managing risks throughout the year,” said John Turner, president and CEO.
“The COVID-19 pandemic is accelerating changes in customer behavior," continued Turner. "Moving forward, we will continue innovating and prudently investing in the people and technology that help Regions deliver competitive solutions and superior service. By executing our strategic plan, we will remain a source of economic strength for our customers and communities, and we will deliver sustainable, long-term performance for our shareholders.”
SUMMARY OF FULL YEAR AND FOURTH QUARTER 2020 RESULTS:
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Quarter Ended |
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Year Ended |
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(amounts in millions, except per share data) |
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12/31/2020 |
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9/30/2020 |
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12/31/2019 |
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2020 |
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2019 |
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Net income |
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$ |
616 |
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$ |
530 |
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$ |
389 |
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1,094 |
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1,582 |
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Preferred dividends |
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28 |
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29 |
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23 |
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|
103 |
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79 |
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Net income available to common shareholders |
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$ |
588 |
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$ |
501 |
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$ |
366 |
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$ |
991 |
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$ |
1,503 |
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Weighted-average diluted shares outstanding |
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965 |
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962 |
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968 |
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962 |
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999 |
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Actual shares outstanding—end of period |
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960 |
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960 |
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957 |
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960 |
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957 |
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Diluted earnings per common share |
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$ |
0.61 |
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$ |
0.52 |
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$ |
0.38 |
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$ |
1.03 |
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$ |
1.50 |
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Selected items impacting earnings: |
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Pre-tax adjusted items(1): |
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Adjustments to non-interest expense(1) |
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$ |
(57) |
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$ |
(7) |
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$ |
(28) |
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$ |
(102) |
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$ |
(46) |
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Adjustments to non-interest income(1) |
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31 |
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47 |
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(2) |
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81 |
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(19) |
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Total pre-tax adjusted items(1) |
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$ |
(26) |
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$ |
40 |
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$ |
(30) |
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$ |
(21) |
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$ |
(65) |
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Regions Financial Corp.
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RF Stock Data
18.03B
915.20M
0.25%
81.66%
3.84%
Commercial Banking
Finance and Insurance
United States of America
BIRMINGHAM
About RFregions financial corporation, with $125 billion in assets, is a member of the s&p 500 index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, mortgage and insurance products and services. regions serves customers in 16 states across the south, midwest and texas, and through its subsidiary, regions bank, operates approximately 1,630 banking offices and 2,000 atms. our company mission we are regions. and ours is a vibrant mission. make life better. make life better for associates. make life better for our customers. make life better for our communities. this is our roadmap to success. our roadmap to create strong, consistent shareholder value. regions' five core values guide everything we do: • do what is right • put people first • reach higher • focus on your customer • enjoy life also, please view our full community and privacy & security policy: http://bit.ly/1aidoey equal housing lender | member fdic
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