Record Performance Accelerating Growth Regions Reports 2021 Earnings of $2.4 Billion Earnings Per Diluted Share of $2.49
Friday, January 21st, 2022
Regions Financial Corp. (NYSE:RF) today announced earnings for the fourth quarter and full-year ended Dec. 31, 2021. The company reported fourth quarter net income available to common shareholders of $414 million and earnings per diluted share of $0.43. For the full year 2021, the company reported net income available to common shareholders of $2.4 billion and record pre-tax pre-provision income(1) of $2.7 billion. Compared to full-year 2020, total revenue and pre-tax pre-provision income(1) both grew 2 percent. Adjusted revenue(1) increased 3 percent, and adjusted pre-tax pre-provision income(1) increased 2 percent.
“Regions delivered strong results throughout 2021 with record pre-tax pre-provision income(1) for the year, net retail checking account growth that exceeded the previous three years combined, and our lowest annual net charge-off ratio since 2006. Further, during the fourth quarter alone, we completed three acquisitions that will grow and diversify our revenue by adding to our specialty capabilities for clients across our high-growth footprint,” said John Turner, President and CEO of Regions Financial Corp. “We have also invested in key hires who are helping us expand our presence in vibrant markets and thriving business sectors. More than ever before, we have the talent, the products and services, and an innovation mindset that are helping us deliver comprehensive financial solutions for today's clients.
“Our teams have proven we are adaptive and forward thinking in how we fulfill our purpose and mission to create shared value and make life better for our stakeholders,” Turner added. “While challenges from the pandemic remain, we see optimism among our clients and strength in our markets, and we are well positioned to generate further growth as we execute our strategic plan.”