Regions Financial Corp. (NYSE:RF) today reported earnings for the fourth quarter and full-year ended December 31, 2022. The company reported fourth quarter net income available to common shareholders of $660 million and earnings per diluted share of $0.70. For the full-year 2022, the company reported net income available to common shareholders of $2.1 billion and record pre-tax pre-provision income(1) of $3.1 billion. Compared to full-year 2021, total revenue increased 12 percent to a record $7.2 billion on both a reported and adjusted basis(1) driven by growth in net interest income. Strong revenue growth contributed to a 17 percent increase in pre-tax pre-provision income(1) on a reported basis and a 21 percent increase on an adjusted basis(1) compared to the prior year. The company generated full-year positive operating leverage of 3.5 percent on a reported basis and 6.6 percent on an adjusted basis(1).

"I want to congratulate and thank our 20,000 associates for their hard work and dedication throughout the year," said John Turner, President and CEO of Regions Financial Corp. "We have built a strong, diverse and inclusive team, and Regions' associates do a great job serving our customers and communities. Our associates volunteered over 62,000 hours in the communities we serve during 2022, and we, along with the Regions Foundation, continued to foster inclusive prosperity through more than $20 million in combined community giving."

Turner added,"Regions continued its focus on delivering consistent, sustainable financial performance, generatingrecordpre-taxpre-provisionincome(1) for2022.Duringtheyear,wecontinuedtomakebanking easier for our customers and our associates through innovations and account enhancements that improve the customer experience and better enable our teams to deliver tailored financial solutions. Our strategic investments continue to provide opportunities to broaden and deepen relationships with our customers. Additionally, our attractive footprint, combined with our innovative and comprehensive product set, has supported continued customer acquisition and revenue growth while delivering benefits for all stakeholders. While uncertainty remains, we have deliberately positioned the company to withstand an array of economic conditions, and our strong performance in 2022 provides a solid foundation as we enter 2023."