Regions Financial Corp. announced earnings for the first quarter ended March 31, 2022. The company reported first quarter net income available to common shareholders of $524 million and earnings per diluted share of $0.55. Total revenue of $1.6 billion and pre-tax pre-provision income(1) of $666 million reflected a 5 percent increase in net interest income compared to the first quarter of 2021 attributable to higher interest rates as well as loan and deposit growth.

“Our solid first-quarter results are a reflection of Regions' sound business strategy. Factors positioning us for further growth include our passion for delivering a first-class banking experience, an innovative mindset in digital banking and other services, our enhanced specialty capabilities, and exceptional teams that are building and deepening customer relationships in many of the fastest-growing markets in the country,” said John Turner, President and CEO of Regions Financial Corp. “We are proud that our results reflect Regions' strong credit profile, our commitment to prudently managing expenses, and our growth in loan commitments, balances, and pipelines, as well as deposit accounts and balances. We will continue to differentiate Regions through a seamless customer experience, an always-on focus toward evolving and enhancing our services, and exceptional banking teams that are empowered through competitive tools and resources to expand our customer base and build even greater client loyalty.”

Regions' Strategic Plan in Action:
With results including a year-to-year increase in net interest income, well-controlled expenses, solid credit metrics, and more, Regions is delivering quality fundamentals supported by key advantages. Those advantages include:

- Strong in-market migration converting legacy "core" markets into growth markets:
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Nineteen of Regions' top 25 MSAs are projected to grow faster than the U.S. national average. Twenty of the top 25 U.S. markets with net migration inflows are within Regions' footprint, which includes vibrant markets across the Southeast, Texas, and portions of the Midwest.

◦ Regions' deposit-weighted population growth by MSA for 2022-2027 is projected at 3.6% vs. the national average of 3.2%.
◦ Consistently onboarding talented and highly experienced, revenue-generating personnel in growth markets, further introducing the Regions brand to more businesses and consumers
Digital and data supporting a better banking experience:
◦ 5.5% increase in overall digital users in 1Q22 compared to 1Q21
◦ 9.5% increase specifically in mobile users in 1Q22 compared to 1Q21
◦ 4.6% increase in digital transactions as a percentage of total consumer customer transactions in
1Q22 compared to 1Q21
◦ Expansion of Regions' Relationship Platform: Regions Bridge provides a single client
relationship view to better serve customers across Wealth Management and Mortgage.
◦ New Fulfillment & Servicing Platforms for Real Estate Loans: Part of Regions' path to a more
omnichannel experience
◦ Centralization of Data/Modernization: Leveraging modern Big Data Platforms to accelerate
data-driven decision-making processes