EX-99.2 3 rf-2022331xexhibitx992.htm EX-99.2 Document

Exhibit 99.2

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Regions Financial Corporation and Subsidiaries
Financial Supplement (unaudited)
First Quarter 2022





Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release

Table of Contents
 
   Page
Financial Highlights  
Selected Ratios and Other Information  
Consolidated Statements of Income  
Consolidated Average Daily Balances and Yield / Rate Analysis  
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI  
Non-Interest Income, Mortgage Income, Wealth Management Income and Capital Markets Income  
Non-Interest Expense  
Reconciliation to GAAP Financial Measures  
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income / Expense, Adjusted Operating Leverage Ratios, and Return Ratios
Credit Quality  
Allowance for Credit Losses, Net Charge-Offs and Related Ratios  
Non-Accrual Loans (excludes loans held for sale), Early and Late Stage Delinquencies  
Consolidated Balance Sheets  
  
Loans   
Deposits  
Reconciliation to GAAP Financial Measures  
Tangible Common Ratios
Forward-Looking Statements



Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release

Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)3/31/202212/31/20219/30/20216/30/20213/31/2021
Earnings Summary
Interest income - taxable equivalent$1,063 $1,066 $1,017 $1,018 $1,024 
Interest expense - taxable equivalent37 37 41 43 46 
Net interest income - taxable equivalent1,026 1,029 976 975 978 
Less: Taxable-equivalent adjustment11 10 11 12 11 
Net interest income 1,015 1,019 965 963 967 
Provision for (benefit from) credit losses(36)110 (155)(337)(142)
Net interest income after provision for (benefit from) credit losses1,051 909 1,120 1,300 1,109 
Non-interest income584 615 649 619 641 
Non-interest expense933 983 938 898 928 
Income before income taxes702 541 831 1,021 822 
Income tax expense154 103 180 231 180 
Net income$548 $438 $651 $790 $642 
Net income available to common shareholders$524 $414 $624 $748 $614 
Earnings per common share - basic$0.56 $0.44 $0.65 $0.78 $0.64 
Earnings per common share - diluted$0.55 $0.43 $0.65 $0.77 $0.63 
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$89,335 $87,784 $83,270 $84,074 $84,755 
Allowance for credit losses(1,492 )(1,574 )(1,499 )(1,684 )(2,068 )
Assets164,082 162,938 156,153 155,610 153,331 
Deposits141,022 139,072 132,039 131,484 129,602 
Long-term borrowings2,343 2,407 2,451 2,870 2,916 
Shareholders' equity16,982 18,326 18,605 18,252 17,862 
Average balances
Loans, net of unearned income$87,814 $86,548 $83,350 $84,551 $84,755 
Assets161,728 160,051 155,630 154,678 146,554 
Deposits138,734 136,682 131,897 131,132 122,937 
Long-term borrowings2,390 2,433 2,774 2,901 3,192 
Shareholders' equity17,717 18,308 18,453 18,000 18,038 




1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 3/31/202212/31/20219/30/20216/30/20213/31/2021
Return on average assets* (1)
1.38 %1.09 %1.66 %2.05 %1.78 %
Return on average common shareholders' equity*13.23 %9.86 %14.75 %18.35 %15.20 %
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
21.00 %15.07 %21.34 %26.91 %22.28 %
Efficiency ratio57.9 %59.8 %57.7 %56.4 %57.3 %
Adjusted efficiency ratio (non-GAAP) (2)
57.9 %58.8 %56.6 %56.9 %56.8 %
Common book value per share$16.42 $17.69 $17.75 $17.38 $16.87 
Tangible common book value per share (non-GAAP) (2)
$10.06 $11.38 $12.32 $11.94 $11.46 
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
5.93 %6.83 %7.79 %7.58 %7.43 %
Common equity (3)
$10,912$10,844 $11,628 $11,190 $10,952 
Total risk-weighted assets (3)
$116,248$113,343 $108,052 $107,943 $106,261 
Common equity Tier 1 ratio (3)
9.4 %9.6 %10.8 %10.4 %10.3 %
Tier 1 capital ratio (3)
10.8 %11.0 %12.3 %11.9 %11.9 %
Total risk-based capital ratio (3)
12.5 %12.7 %14.1 %13.9 %14.0 %
Leverage ratio (3)
8.0 %8.1 %8.8 %8.6 %8.9 %
Effective tax rate 21.9 %18.9 %21.7 %22.6 %21.9 %
Allowance for credit losses as a percentage of loans, net of unearned income1.67 %1.79 %1.80 %2.00 %2.44 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 446 %349 %283 %253 %280 %
Net interest margin (FTE)* 2.85 %2.83 %2.76 %2.81 %3.02 %
Adjusted net interest margin (FTE) (non-GAAP) (2) *
3.43 %3.34 %3.30 %3.31 %3.40 %
Loans, net of unearned income, to total deposits63.3 %63.1 %63.1 %63.9 %65.4 %
Net charge-offs as a percentage of average loans*0.21 %0.20 %0.14 %0.23 %0.40 %
Non-accrual loans, excluding loans held for sale, as a percentage of loans0.37 %0.51 %0.64 %0.79 %0.87 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, non-marketable investments and non-performing loans held for sale0.39 %0.54 %0.66 %0.93 %0.90 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, non-marketable investments and non-performing loans held for sale (4)
0.53 %0.70 %0.80 %1.09 %1.09 %
Associate headcount—full-time equivalent(5)
19,723 19,626 18,963 18,814 18,926 
ATMs 2,054 2,068 2,051 2,051 2,101 
Branch Statistics
Full service1,259 1,268 1,276 1,280 1,332 
Drive-through/transaction service only35 34 34 33 34 
Total branch outlets1,294 1,302 1,310 1,313 1,366 
*Annualized
(1)Calculated by dividing net income by average assets.
(2)See reconciliation of GAAP to non-GAAP Financial Measures that begin on pages 5, 6, 9, 10, and 19.
(3)Current quarter Common equity as well as Total risk-weighted assets, Common equity Tier 1, Tier 1 capital, Total risk-based capital and Leverage ratios are estimated.
(4)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 17 for amounts related to these loans.
(5)Associate headcount for the fourth quarter of 2021 includes approximately 620 associates from acquisitions closed in the quarter.


2
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Consolidated Statements of Income
Quarter Ended
($ amounts in millions, except per share data)3/31/202212/31/20219/30/20216/30/20213/31/2021
Interest income on:
Loans, including fees $876 $902 $847 $849 $854 
Debt securities138 134 135 131 133 
Loans held for sale9 6 7 12 12 
Other earning assets 29 14 17 14 14 
Total interest income1,052 1,056 1,006 1,006 1,013 
Interest expense on:
Deposits13 13 15 17 19 
Long-term borrowings24 24 26 26 27 
Total interest expense37 37 41 43 46 
Net interest income 1,015 1,019 965 963 967 
Provision for (benefit from) credit losses(36)110 (155)(337)(142)
Net interest income after provision for (benefit from) credit losses1,051 909 1,120 1,300 1,109 
Non-interest income:
Service charges on deposit accounts168 166 162 163 157 
Card and ATM fees124 127 129 128 115 
Wealth management income101 100 95 96 91 
Capital markets income73 83 87 61 100 
Mortgage income48 49 50 53 90 
Securities gains (losses), net— — 1 1 1 
Other70 90 125 117 87 
Total non-interest income584 615 649 619 641 
Non-interest expense:
Salaries and employee benefits546 575 552 532 546 
Equipment and software expense95 96 90 89 90 
Net occupancy expense75 76 75 75 77 
Other217 236 221 202 215 
Total non-interest expense933 983 938 898 928 
Income before income taxes702 541 831 1,021 822 
Income tax expense 154 103 180 231 180 
Net income $548 $438 $651 $790 $642 
Net income available to common shareholders$524 $414 $624 $748 $614 
Weighted-average shares outstanding—during quarter:
Basic938 949 955 958 961 
Diluted947 958 962 965 968 
Actual shares outstanding—end of quarter933 942 955 955 961 
Earnings per common share: (1)
Basic$0.56 $0.44 $0.65 $0.78 $0.64 
Diluted$0.55 $0.43 $0.65 $0.77 $0.63 
Taxable-equivalent net interest income$1,026 $1,029 $976 $975 $978 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.





3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 3/31/202212/31/2021
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$2 $— 0.18 %$1 $— 0.18 %
Debt securities (2)
29,342 138 1.88 29,264 134 1.83 
Loans held for sale782 9 4.89 855 6 2.98 
Loans, net of unearned income:
Commercial and industrial 43,993 447 4.10 42,254 468 4.39 
Commercial real estate mortgage—owner-occupied5,237 57 4.35 5,386 60 4.34 
Commercial real estate construction—owner-occupied269 3 3.91 263 3 3.95 
Commercial investor real estate mortgage5,514 30 2.19 5,531 30 2.13 
Commercial investor real estate construction1,568 11 2.83 1,654 11 2.72 
Residential first mortgage17,496 135 3.09 17,413 136 3.12 
Home equity6,163 55 3.55 6,334 55 3.51 
Consumer credit card1,142 35 12.48 1,155 35 12.16 
Other consumer—exit portfolios987 14 5.84 1,160 18 5.71 
Other consumer5,445 100 7.42 5,398 96 7.13 
Total loans, net of unearned income87,814 887 4.07 86,548 912 4.18 
Interest bearing deposits in other banks26,606 13 0.20 26,121 10 0.15 
Other earning assets1,306 16 5.02 1,276 4 1.41 
Total earning assets 145,852 1,063 2.93 144,065 1,066 2.94 
Unrealized gains/(losses) on debt securities available for sale, net (2)
(549)331 
Allowance for loan losses(1,472)(1,572)
Cash and due from banks2,200 2,143 
Other non-earning assets15,697 15,084 
$161,728 $160,051 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $15,539 5 0.13 $14,854 5 0.12 
Interest-bearing checking27,771 2 0.03 26,000 2 0.03 
Money market 31,402 2 0.02 31,483 1 0.02 
Time deposits5,905 4 0.30 6,505 5 0.36 
Total interest-bearing deposits (3)
80,617 13 0.07 78,842 13 0.07 
Federal funds purchased and securities sold under agreements to repurchase— — — 44 — 0.19 
Other short-term borrowings9 — 0.16 — — — 
Long-term borrowings2,390 24 4.06 2,433 24 3.93 
Total interest-bearing liabilities83,016 37 0.18 81,319 37 0.18 
Non-interest-bearing deposits (3)
58,117 — — 57,840 — — 
Total funding sources141,133 37 0.11 139,159 37 0.11 
Net interest spread (2)
2.75 2.76 
Other liabilities2,878 2,566 
Shareholders’ equity17,717 18,308 
Noncontrolling interest— 18 
$161,728 $160,051 
Net interest income /margin FTE basis (2)
$1,026 2.85 %$1,029 2.83 %
_______
(1) Amounts have been calculated using whole dollar values.
(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(3) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.04% for the quarter ended March 31, 2022 and 0.04% for the quarter ended December 31, 2021.



4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 9/30/20216/30/20213/31/2021
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Average BalanceIncome/ Expense
Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$2 $— 0.18 %$9 $— 0.13 %$— $— — %
Debt securities (2)
29,308 135 1.85 28,633 $131 1.83 27,180 133 1.96 
Loans held for sale1,044 7 2.64 1,382 12 3.36 1,603 12 3.10 
Loans, net of unearned income:
Commercial and industrial 41,892 464 4.38 43,140 467 4.32 42,816 459 4.33 
Commercial real estate mortgage—owner-occupied5,436 60 4.37 5,358 60 4.42 5,375 60 4.48 
Commercial real estate construction—owner-occupied246 2 4.14 276 3 4.05 303 3 3.89 
Commercial investor real estate mortgage5,605 32 2.18 5,521 30 2.19 5,375 30 2.22 
Commercial investor real estate construction1,706 12 2.72 1,761 12 2.73 1,847 13 2.75 
Residential first mortgage17,198 135 3.15 16,795 134 3.19 16,606 134 3.23 
Home equity6,523 58 3.53 6,774 60 3.52 7,085 62 3.55 
Consumer credit card1,128 35 12.19 1,108 33 12.13 1,151 35 12.19 
Other consumer—exit portfolios1,363 19 5.63 1,599 22 5.60 1,884 26 5.66 
Other consumer2,253 41 7.06 2,219 40 7.20 2,313 43 7.47 
Total loans, net of unearned income 83,350 858 4.07 84,551 861 4.07 84,755 865 4.11 
Interest bearing deposits in other banks25,144 9 0.15 23,337 7 0.11 16,509 4 0.10 
Other earning assets1,303 8 2.06 1,297 7 2.20 1,279 10 3.27 
Total earning assets
140,151 1,017 2.88 139,209 1,018 2.92 131,326 1,024 3.14 
Unrealized gains/(losses) on debt securities available for sale, net (2)
674 627 867 
Allowance for loan losses(1,581)(1,896)(2,139)
Cash and due from banks1,937 2,094 1,931 
Other non-earning assets14,449 14,644 14,569 
$155,630 $154,678 $146,554 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $14,328 4 0.13 $13,914 5 0.14 $12,340 5 0.15 
Interest-bearing checking25,277 2 0.03 25,044 2 0.03 24,171 2 0.04 
Money market 30,765 2 0.02 30,762 2 0.03 29,425 3 0.04 
Time deposits4,527 7 0.55 4,813 8 0.64 5,158 9 0.74 
Other deposits1 — 1.50 4 — 0.55 4 — 1.81 
Total interest-bearing deposits (3)
74,898 15 0.08 74,537 17 0.09 71,098 19 0.11 
Long-term borrowings2,774 26 3.65 2,901 26 3.59 3,192 27 3.42 
Total interest-bearing liabilities 77,672 41 0.20 77,438 43 0.22 74,290 46 0.25 
Non-interest-bearing deposits (3)
56,999 — — 56,595 — — 51,839 — — 
Total funding sources134,671 41 0.12 134,033 43 0.13 126,129 46 0.15 
Net interest spread (2)
2.67 2.70 2.89 
Other liabilities2,506 2,645 2,387 
Shareholders’ equity18,453 18,000 18,038 
$155,630 $154,678 $146,554 
Net interest income/margin FTE basis (2)
$976 2.76 %$975 2.81 %$978 3.02 %
_______
(1) Amounts have been calculated using whole dollar values.
(2) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(3) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.04% for the quarter ended September 30, 2021, 0.05% for the quarter ended June 30, 2021 and 0.06% for the quarter ended March 31, 2021.

Adjusted Net Interest Margin (non-GAAP)
Regions believes the adjusted net interest margin (non-GAAP) provides investors with meaningful additional information about Regions' performance when margin associated with the SBA's Paycheck Protection Program (PPP) loans and excess cash are excluded from net interest margin (GAAP).
Quarter-ended
3/31/202212/31/20219/30/20216/30/20213/31/2021
Net interest margin (FTE) (GAAP)2.85 %2.83 %2.76 %2.81 %3.02 %
Impact of SBA PPP loans (1)
(0.02)%(0.09)%(0.05)%(0.05)%(0.04)%
Impact of excess cash (2)
0.60 %0.60 %0.59 %0.55 %0.42 %
Adjusted net interest margin (FTE) (non-GAAP)3.43 %3.34 %3.30 %3.31 %3.40 %
_______
(1) The impact of SBA PPP loans was determined using average PPP loan balances and the related net interest income.
(2) The impact of excess cash was determined using the average cash balance in excess of $750 million and the related net interest income. The $750 million threshold approximates the average cash balance for the four quarters preceding the outbreak of the COVID-19 pandemic.

5
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI (non-GAAP)
The Pre-Tax Pre-Provision Income tables below present computations of pre-tax pre-provision income excluding certain adjustments (non-GAAP). Regions believes that the presentation of PPI and the exclusion of certain items from PPI provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of income that excludes certain adjustments does not represent the amount that effectively accrues directly to shareholders.
 Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Net income available to common shareholders (GAAP)$524 $414 $624 $748 $614 $110 26.6 %$(90)(14.7)%
Preferred dividends and other (GAAP) (1)
24 24 27 42 28 — — %(4)(14.3)%
Income tax expense (GAAP)154 103 180 231 180 51 49.5 %(26)(14.4)%
Income before income taxes (GAAP)702 541 831 1,021 822 161 29.8 %(120)(14.6)%
Provision for (benefit from) credit losses (GAAP)(36)110 (155)(337)(142)(146)(132.7)%106 74.6 %
Pre-tax pre-provision income (non-GAAP)666 651 676 684 680 15 2.3 %(14)(2.1)%
Other adjustments:
Securities (gains) losses, net— — (1)(1)(1)— NM1 NM
Gain on equity investment— — — — (3)— NM3 100.0 %
Leveraged lease termination gains, net(1)— (2)— — (1)NM(1)NM
Bank-owned life insurance (2)
— — — (18)— — NM— NM
Salaries and employee benefits—severance charges— 1 — 2 3 (1)(100.0)%(3)(100.0)%
Branch consolidation, property and equipment charges1 — — — 5 1 NM(4)(80.0)%
Contribution to the Regions Financial Corporation foundation— — — 1 2 — NM(2)(100.0)%
Loss on early extinguishment of debt— — 20 — — — NM— NM
Professional, legal and regulatory expenses(3)
— 15 — — — (15)(100.0)%— NM
Total other adjustments— 16 17 (16)6 (16)(100.0)%(6)(100.0)%
Adjusted pre-tax pre-provision income (non-GAAP)$666 $667 $693 $668 $686 $(1)(0.1)%$(20)(2.9)%
______
NM - Not Meaningful
(1) The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed during the second quarter of 2021.
(2) The second quarter 2021 amount relates to an individual BOLI claim benefit.
(3)    Amounts are professional and legal expenses related to acquisitions.



6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Service charges on deposit accounts$168 $166 $162 $163 $157 $2 1.2 %$11 7.0 %
Card and ATM fees124 127 129 128 115 (3)(2.4)%9 7.8 %
Wealth management income101 100 95 96 91 1 1.0 %10 11.0 %
Capital markets income (1)
73 83 87 61 100 (10)(12.0)%(27)(27.0)%
Mortgage income (2)
48 49 50 53 90 (1)(2.0)%(42)(46.7)%
Commercial credit fee income 22 23 23 23 22 (1)(4.3)%— — %
Bank-owned life insurance14 14 18 33 17 — — %(3)(17.6)%
Market value adjustments on employee benefit assets-other (3)
(14)— 5 8 7 (14)NM(21)(300.0)%
Gain on equity investment— — — — 3 — — %(3)(100.0)%
Securities gains (losses), net— — 1 1 1 — — %(1)(100.0)%
Other miscellaneous income48 53 79 53 38 (5)(9.4)%10 26.3 %
Total non-interest income$584 $615 $649 $619 $641 $(31)(5.0)%$(57)(8.9)%
Mortgage Income
Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Production and sales$43 $46 $57 $50 $76 $(3)(6.5)%$(33)(43.4)%
Loan servicing27 27 26 25 24 — — %3 12.5 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions47 (6)(3)(38)90 53 NM(43)(47.8)%
MSRs hedge gain (loss)(52)1 (12)32 (83)(53)NM31 37.3 %
MSRs change due to payment decay(17)(19)(18)(16)(17)2 10.5 %— — %
MSR and related hedge impact(22)(24)(33)(22)(10)2 8.3 %(12)(120.0)%
Total mortgage income$48 $49 $50 $53 $90 $(1)(2.0)%(42)(46.7)%
Mortgage production - portfolio$1,021 $1,273 $1,548 $1,746 $1,470 $(252)(19.8)%$(449)(30.5)%
Mortgage production - agency/secondary market819 1,133 1,276 1,255 1,306 (314)(27.7)%(487)(37.3)%
Total mortgage production$1,840 $2,406 $2,824 $3,001 $2,776 $(566)(23.5)%$(936)(33.7)%
Mortgage production - purchased65.7 %58.6 %59.7 %63.6 %51.3 %
Mortgage production - refinanced34.3 %41.4 %40.3 %36.4 %48.7 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Investment management and trust fee income$75 $74 $69 $69 $66 $1 1.4 %$9 13.6 %
Investment services fee income26 26 26 27 25 — — %1 4.0 %
Total wealth management income (4)
$101 $100 $95 $96 $91 $1 1.0 %$10 11.0 %
Capital Markets Income
Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Capital markets income$73 $83 $87 $61 $100 $(10)(12.0)%$(27)(27.0)%
Less: Valuation adjustments on customer derivatives (5)
6 — 1 (4)11 6 NM(5)(45.5)%
Capital markets income excluding valuation adjustments $67 $83 $86 $65 $89 $(16)(19.3)%$(22)(24.7)%
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)Mortgage income in the first quarter of 2022 includes approximately $12 million in gains associated with the re-securitization and sale of approximately $285 million of Ginnie Mae loans that had been previously repurchased from their pools.
(3)These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.
(4)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(5)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.

7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Salaries and employee benefits$546 $575 $552 $532 $546 $(29)(5.0)%$— — %
Equipment and software expense95 96 90 89 90 (1)(1.0)%5 5.6 %
Net occupancy expense75 76 75 75 77 (1)(1.3)%(2)(2.6)%
Outside services38 41 38 39 38 (3)(7.3)%— — %
Marketing24 32 23 29 22 (8)(25.0)%2 9.1 %
Professional, legal and regulatory expenses 17 33 21 15 29 (16)(48.5)%(12)(41.4)%
Credit/checkcard expenses26 15 16 17 14 11 73.3 %12 85.7 %
FDIC insurance assessments14 13 11 11 10 1 7.7 %4 40.0 %
Visa class B shares expense5 8 4 6 4 (3)(37.5)%1 25.0 %
Loss on early extinguishment of debt— — 20 — — — — %— NM
Branch consolidation, property and equipment charges 1 — — — 5 1 NM(4)(80.0)%
Other92 94 88 85 93 (2)(2.1)%(1)(1.1)%
Total non-interest expense$933 $983 $938 $898 $928 $(50)(5.1)%$5 0.5 %
_________
NM - Not Meaningful




8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue
The table below presents computations of the efficiency ratio, which is a measure of productivity, generally calculated as non-interest expense divided by total revenue; and the fee income ratio, generally calculated as non-interest income divided by total revenue. Management uses these ratios to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the adjusted efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the adjusted fee income ratio. Net interest income and non-interest income are added together to arrive at total revenue. Adjustments are made to arrive at adjusted total revenue (non-GAAP). Net interest income on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the adjusted fee income and adjusted efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Also presented is a computation of the operating leverage ratio (non-GAAP) which is the period to period percentage change in adjusted total revenue on a taxable-equivalent basis (non-GAAP) less the percentage change in adjusted non-interest expense (non-GAAP). Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.
 Quarter Ended
($ amounts in millions) 3/31/202212/31/20219/30/20216/30/20213/31/20211Q22 vs. 4Q211Q22 vs. 1Q21
Non-interest expense (GAAP)A$933 $983 $938 $898 $928 $(50)(5.1)%$5 0.5 %
Adjustments:
Contribution to the Regions Financial Corporation foundation — — — (1)(2)— NM2 100.0 %
Branch consolidation, property and equipment charges(1)— — — (5)(1)NM4 80.0 %
Salaries and employee benefits—severance charges— (1)— (2)(3)1 100.0 %3 100.0 %
Loss on early extinguishment of debt— — (20)— — — NM— NM
Professional, legal and regulatory expenses (1)
— (15)— — — 15 100.0 %— NM
Adjusted non-interest expense (non-GAAP)B$932 $967 $918 $895 $918 $(35)(3.6)%$14 1.5 %
Net interest income (GAAP)C$1,015 $1,019 $965 $963 $967 $(4)(0.4)%$48 5.0 %
Taxable-equivalent adjustment11 10 11 12 11 1 10.0 %— NM
Net interest income, taxable-equivalent basisD$1,026 $1,029 $976 $975 $978 $(3)(0.3)%$48 4.9 %
Non-interest income (GAAP)E584 615 649 619 641 (31)(5.0)%(57)(8.9)%
Adjustments:
Securities (gains) losses, net— — (1)(1)(1)— NM1 100.0 %
Gain on equity investment— — — — (3)— NM3 100.0 %
Leveraged lease termination gains(1)— (2)— — (1)NM(1)NM
Bank-owned life insurance (2)
— — — (18)— — NM— NM
Adjusted non-interest income (non-GAAP)F$583 $615 $646 $600 $637 (32)(5.2)%$(54)(8.5)%
Total revenueC+E=G$1,599 $1,634 $1,614 $1,582 $1,608 $(35)(2.1)%$(9)(0.6)%
Adjusted total revenue (non-GAAP)C+F=H$1,598 $1,634 $1,611 $1,563 $1,604 $(36)(2.2)%$(6)(0.4)%
Total revenue, taxable-equivalent basisD+E=I$1,610 $1,644 $1,625 $1,594 $1,619 $(34)(2.1)%$(9)(0.6)%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,609 $1,644 $1,622 $1,575 $1,615 $(35)(2.1)%$(6)(0.4)%
Operating leverage ratio (GAAP) (3)
I-A(1.1)%
Adjusted operating leverage ratio (non-GAAP) (3)
J-B(1.9)%
Efficiency ratio (GAAP) (3)
A/I57.9 %59.8 %57.7 %56.4 %57.3 %
Adjusted efficiency ratio (non-GAAP) (3)
B/J57.9 %58.8 %56.6 %56.9 %56.8 %
Fee income ratio (GAAP) (3)
E/I36.3 %37.4 %40.0 %38.8 %39.6 %
Adjusted fee income ratio (non-GAAP) (3)
F/J36.2 %37.4 %39.8 %38.1 %39.4 %
________
NM - Not Meaningful
(1)Amounts are professional and legal expenses related to acquisitions.
(2)During the second quarter of 2021, the Company recognized an individual BOLI claim benefit.
(3)Amounts have been calculated using whole dollar values.







9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measure

Return Ratio

The table below provides a calculation of “return on average tangible common shareholders’ equity”. Tangible common shareholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common shareholders’ equity measure. Because tangible common shareholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY
Net income available to common shareholders (GAAP)A$524 $414 $624 $748 $614 
Average shareholders' equity (GAAP)$17,717 $18,308 $18,453 $18,000 $18,038 
Less:
Average intangible assets (GAAP)6,043 5,852 5,285 5,292 5,309 
Average deferred tax liability related to intangibles (GAAP) (100)(98)(96)(96)(104)
Average preferred stock (GAAP)1,659 1,660 1,659 1,659 1,656 
Average tangible common shareholders' equity (non-GAAP)B$10,115 $10,894 $11,605 $11,145 $11,177 
Return on average tangible common shareholders' equity (non-GAAP) *(1)
A/B21.00 %15.07 %21.34 %26.91 %22.28 %
____
*Annualized
(1)Amounts have been calculated using whole dollar values.




10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021
Components:
Beginning allowance for loan losses (ALL)$1,479 $1,428 $1,597 $1,976 $2,167 
Loans charged-off:
Commercial and industrial23 23 21 35 45 
Commercial real estate mortgage—owner-occupied3 — 1 1 1 
Commercial real estate construction—owner-occupied— — — — 1 
Total commercial26 23 22 36 47 
Commercial investor real estate mortgage— 1 — 4 15 
Total investor real estate— 1 — 4 15 
Residential first mortgage— 1 — — 1 
Home equity—lines of credit1 1 1 2 2 
Home equity—closed-end1 — — 1 — 
Consumer credit card10 10 9 12 12 
Other consumer—exit portfolios6 6 7 7 11 
Other consumer33 30 20 21 26 
Total consumer51 48 37 43 52 
Total77 72 59 83 114 
Recoveries of loans previously charged-off:
Commercial and industrial13 12 14 14 16 
Commercial real estate mortgage—owner-occupied— — 2 1 — 
Total commercial13 12 16 15 16 
Commercial investor real estate mortgage— — 1 2 — 
Total investor real estate— — 1 2 — 
Residential first mortgage2 2 — 2 1 
Home equity—lines of credit3 3 3 5 3 
Home equity—closed-end1 1 1 2 — 
Consumer credit card2 3 2 3 3 
Other consumer—exit portfolios2 — 2 1 2 
Other consumer8 7 4 6 6 
Total consumer18 16 12 19 15 
Total31 28 29 36 31 
Net charge-offs (recoveries):
Commercial and industrial10 11 7 21 29 
Commercial real estate mortgage—owner-occupied3 — (1)— 1 
Commercial real estate construction—owner-occupied— — — — 1 
Total commercial13 11 6 21 31 
Commercial investor real estate mortgage— 1 (1)2 15 
Total investor real estate— 1 (1)2 15 
Residential first mortgage(2)(1)— (2)— 
Home equity—lines of credit(2)(2)(2)(3)(1)
Home equity—closed-end— (1)(1)(1)— 
Consumer credit card8 7 7 9 9 
Other consumer—exit portfolios4 6 5 6 9 
Other consumer25 23 16 15 20 
Total consumer33 32 25 24 37 
Total$46 $44 $30 $47 $83 
Provision for (benefit from) loan losses$(17)$86 $(139)$(332)$(108)
Initial allowance on acquired purchased credit deteriorated loans— 9 — — — 
Ending allowance for loan losses (ALL)1,416 1,479 1,428 1,597 1,976 
Beginning reserve for unfunded credit commitments95 71 87 92 126 
Provision for (benefit from) unfunded credit losses(19)24 (16)(5)(34)
Ending reserve for unfunded commitments76 95 71 87 92 
Allowance for credit losses (ACL) at period end$1,492 $1,574 $1,499 $1,684 $2,068 

11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021
Net loan charge-offs as a % of average loans, annualized (1):
Commercial and industrial0.09 %0.11 %0.06 %0.19 %0.28 %
Commercial real estate mortgage—owner-occupied0.20 %0.01 %(0.06)%(0.03)%0.09 %
Commercial real estate construction—owner-occupied(0.03)%0.18 %0.10 %0.38 %0.93 %
Total commercial0.10 %0.10 %0.05 %0.17 %0.26 %
Commercial investor real estate mortgage(0.01)%0.01 %(0.05)%0.19 %1.11 %
Commercial investor real estate construction— %— %— %(0.01)%— %
Total investor real estate(0.01)%0.01 %(0.03)%0.14 %0.82 %
Residential first mortgage(0.05)%(0.02)%(0.01)%(0.04)%— %
Home equity—lines of credit(0.17)%(0.22)%(0.24)%(0.29)%(0.06)%
Home equity—closed-end(0.07)%(0.16)%(0.10)%(0.10)%— %
Consumer credit card2.83 %2.42 %2.57 %3.17 %3.19 %
Other consumer—exit portfolios1.83 %1.69 %1.58 %1.49 %1.98 %
Other consumer1.89 %1.69 %2.80 %2.63 %3.56 %
Total consumer0.44 %0.39 %0.35 %0.34 %0.52 %
Total0.21 %0.20 %0.14 %0.23 %0.40 %
Non-performing loans, excluding loans held for sale$335 $451 $530 $666 $738 
Non-performing loans held for sale7 13 3 99 8 
Non-performing loans, including loans held for sale342 464 533 765 746 
Foreclosed properties9 10 13 15 21 
Non-performing assets (NPAs)$351 $474 $546 $780 $767 
Loans past due > 90 days (2)
$125 $140 $124 $134 $154 
Criticized loans—business (3)
$2,539 $2,905 $3,054 $3,222 $3,756 
Credit Ratios (1):
ACL/Loans, net1.67 %1.79 %1.80 %2.00 %2.44 %
ALL/Loans, net1.59 %1.69 %1.71 %1.90 %2.33 %
Allowance for credit losses to non-performing loans, excluding loans held for sale446 %349 %283 %253 %280 %
Allowance for loan losses to non-performing loans, excluding loans held for sale423 %328 %269 %240 %268 %
Non-performing loans, excluding loans held for sale/Loans, net0.37 %0.51 %0.64 %0.79 %0.87 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale0.39 %0.54 %0.66 %0.93 %0.90 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (2)
0.53 %0.70 %0.80 %1.09 %1.09 %
(1)Amounts have been calculated using whole dollar values.
(2)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 16 for amounts related to these loans.
(3)Business represents the combined total of commercial and investor real estate loans.





12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Non-Performing Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202212/31/20219/30/20216/30/20213/31/2021
Commercial and industrial$216 0.47 %$305 0.70 %$359 0.86 %$472 1.11 %$426 0.98 %
Commercial real estate mortgage—owner-occupied32 0.61 %52 0.98 %68 1.26 %76 1.41 %93 1.73 %
Commercial real estate construction—owner-occupied10 3.75 %11 4.11 %11 4.22 %10 4.02 %9 3.24 %
Total commercial258 0.50 %368 0.75 %438 0.92 %558 1.16 %528 1.08 %
Commercial investor real estate mortgage2 0.04 %3 0.06 %4 0.07 %4 0.07 %100 1.86 %
Total investor real estate2 0.03 %3 0.05 %4 0.05 %4 0.05 %100 1.39 %
Residential first mortgage31 0.18 %33 0.19 %37 0.22 %51 0.30 %53 0.32 %
Home equity—lines of credit37 1.02 %40 1.08 %44 1.15 %45 1.12 %48 1.12 %
Home equity—closed-end7 0.28 %7 0.27 %7 0.27 %8 0.30 %9 0.31 %
Total consumer75 0.24 %80 0.25 %88 0.31 %104 0.36 %110 0.38 %
Total non-performing loans$335 0.37 %$451 0.51 %$530 0.64 %$666 0.79 %$738 0.87 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202212/31/20219/30/20216/30/20213/31/2021
Commercial and industrial $37 0.08 %$64 0.15 %$34 0.08 %$35 0.08 %$42 0.10 %
Commercial real estate mortgage—owner-occupied6 0.11 %4 0.09 %7 0.14 %7 0.13 %9 0.16 %
Commercial real estate construction—owner-occupied1 0.46 %— 0.07 %1 0.23 %— 0.14 %1 0.27 %
Total commercial44 0.09 %68 0.14 %42 0.09 %42 0.09 %52 0.11 %
Commercial investor real estate mortgage16 0.29 %— — %— — %4 0.07 %2 0.04 %
Commercial investor real estate construction— — %— — %— — %— — %1 0.03 %
Total investor real estate16 0.23 %— — %— — %4 0.06 %3 0.04 %
Residential first mortgage—non-guaranteed (1)
58 0.34 %64 0.38 %60 0.36 %51 0.31 %62 0.39 %
Home equity—lines of credit20 0.55 %21 0.57 %22 0.56 %18 0.45 %22 0.50 %
Home equity—closed-end 12 0.47 %11 0.44 %10 0.40 %10 0.39 %12 0.47 %
Consumer credit card13 1.12 %15 1.23 %12 1.02 %11 0.95 %12 1.09 %
Other consumer—exit portfolios11 1.21 %14 1.30 %14 1.08 %15 0.99 %18 1.06 %
Other consumer45 0.82 %46 0.85 %17 0.75 %16 0.70 %17 0.77 %
Total consumer (1)
159 0.64 %171 0.67 %135 0.49 %121 0.43 %143 0.51 %
Total accruing 30-89 days past due loans (1)
$219 0.25 %$239 0.27 %$177 0.21 %$167 0.20 %$198 0.24 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)3/31/202212/31/20219/30/20216/30/20213/31/2021
Commercial and industrial$5 0.01 %$5 0.01 %$3 0.01 %$4 0.01 %$8 0.02 %
Commercial real estate mortgage—owner-occupied1 0.01 %1 0.01 %2 0.03 %2 0.03 %1 0.02 %
Total commercial6 0.01 %6 0.01 %5 0.01 %6 0.01 %9 0.02 %
Residential first mortgage—non-guaranteed (2)
61 0.36 %74 0.44 %68 0.41 %75 0.46 %87 0.55 %
Home equity—lines of credit19 0.52 %21 0.56 %20 0.53 %21 0.51 %19 0.45 %
Home equity—closed-end 11 0.45 %12 0.49 %13 0.49 %13 0.48 %14 0.52 %
Consumer credit card12 1.11 %12 1.04 %11 0.97 %12 1.05 %14 1.25 %
Other consumer—exit portfolios2 0.19 %2 0.21 %2 0.18 %2 0.17 %3 0.18 %
Other consumer14 0.25 %13 0.23 %5 0.22 %5 0.24 %8 0.33 %
Total consumer (2)
119 0.50 %134 0.58 %119 0.43 %128 0.46 %145 0.52 %
Total accruing 90+ days past due loans (2)
$125 0.14 %$140 0.16 %$124 0.15 %$134 0.16 %$154 0.18 %
Total delinquencies (1) (2)
$344 0.39 %$379 0.43 %$301 0.36 %$301 0.36 %$352 0.42 %
(1)Excludes loans that are 100% guaranteed by FHA and guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 30-89 days past due guaranteed loans excluded were $39 million at 3/31/2022, $40 million at 12/31/2021, $40 million at 9/30/2021, $46 million at 6/30/2021, and $58 million at 3/31/2021.
(2)Excludes loans that are 100% guaranteed by FHA and all guaranteed loans sold to Ginnie Mae where Regions has the right but not the obligation to repurchase. Total 90 days or more past due guaranteed loans excluded were $37 million at 3/31/2022, $49 million at 12/31/2021, $44 million at 9/30/2021, $44 million at 6/30/2021, and $51 million at 3/31/2021.

13
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Consolidated Balance Sheets
As of
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021
Assets:
Cash and due from banks$2,227 $1,350 $1,741 $1,820 $1,918 
Interest-bearing deposits in other banks25,718 28,061 25,766 23,774 23,002 
Debt securities held to maturity864 899 945 993 1,059 
Debt securities available for sale29,384 28,481 28,986 29,290 27,092 
Loans held for sale694 1,003 934 1,194 1,487 
Loans, net of unearned income 89,335 87,784 83,270 84,074 84,755 
Allowance for loan losses
(1,416)(1,479)(1,428)(1,597)(1,976)
Net loans87,919 86,305 81,842 82,477 82,779 
Other earning assets1,504 1,187 1,269 1,246 1,262 
Premises and equipment, net1,794 1,814 1,805 1,825 1,852 
Interest receivable329 319 304 323 336 
Goodwill5,748 5,744 5,181 5,181 5,181 
Residential mortgage servicing rights at fair value (MSRs)542 418 410 392 401 
Other identifiable intangible assets, net292 305 101 108 114 
Other assets7,067 7,052 6,869 6,987 6,848 
Total assets$164,082 $162,938 $156,153 $155,610 $153,331 
Liabilities and Equity:
Deposits:
Non-interest-bearing$59,590 $58,369 $57,145 $56,468 $55,925 
Interest-bearing81,432 80,703 74,894 75,016 73,677 
Total deposits141,022 139,072 132,039 131,484 129,602 
Borrowed funds:
Long-term borrowings2,343 2,407 2,451 2,870 2,916 
Other liabilities3,735 3,133 3,040 3,004 2,951 
Total liabilities147,100 144,612 137,530 137,358 135,469 
Equity:
Preferred stock, non-cumulative perpetual1,659 1,659 1,659 1,659 1,656 
Common stock10 10 10 10 10 
Additional paid-in capital11,983 12,189 12,479 12,467 12,740 
Retained earnings5,915 5,550 5,296 4,836 4,235 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income, net(1,214)289 532 651 592 
Total shareholders’ equity16,982 18,326 18,605 18,252 17,862 
Noncontrolling interest
— — 18 — — 
Total equity
16,982 18,326 18,623 18,252 17,862 
Total liabilities and equity
$164,082 $162,938 $156,153 $155,610 $153,331 








14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
End of Period Loans
As of
    3/31/20223/31/2022
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021 vs. 12/31/2021 vs. 3/31/2021
Commercial and industrial$45,643 $43,758 $41,748 $42,628 $43,241 $1,885 4.3 %$2,402 5.6 %
Commercial real estate mortgage—owner-occupied5,181 5,287 5,446 5,381 5,335 (106)(2.0)%(154)(2.9)%
Commercial real estate construction—owner-occupied273 264 252 245 293 9 3.4 %(20)(6.8)%
Total commercial51,097 49,309 47,446 48,254 48,869 1,788 3.6 %2,228 4.6 %
Commercial investor real estate mortgage 5,557 5,441 5,608 5,449 5,405 116 2.1 %152 2.8 %
Commercial investor real estate construction1,607 1,586 1,704 1,799 1,817 21 1.3 %(210)(11.6)%
Total investor real estate7,164 7,027 7,312 7,248 7,222 137 1.9 %(58)(0.8)%
Total business58,261 56,336 54,758 55,502 56,091 1,925 3.4 %2,170 3.9 %
Residential first mortgage17,373 17,512 17,347 17,051 16,643 (139)(0.8)%730 4.4 %
Home equity—lines of credit (1)
3,602 3,744 3,875 4,057 4,286 (142)(3.8)%(684)(16.0)%
Home equity—closed-end (2)
2,500 2,510 2,556 2,588 2,631 (10)(0.4)%(131)(5.0)%
Consumer credit card1,133 1,184 1,136 1,131 1,111 (51)(4.3)%22 2.0 %
Other consumer—exit portfolios (3)
909 1,071 1,260 1,479 1,739 (162)(15.1)%(830)(47.7)%
Other consumer5,557 5,427 2,338 2,266 2,254 130 2.4 %3,303 146.5 %
Total consumer31,074 31,448 28,512 28,572 28,664 (374)(1.2)%2,410 8.4 %
Total Loans$89,335 $87,784 $83,270 $84,074 $84,755 $1,551 1.8 %$4,580 5.4 %
______
NM - Not meaningful.
(1)     The balance of Regions' home equity lines of credit consists of $2,013 million of first lien and $1,589 million of second lien at 3/31/2022.
(2)    The balance of Regions' closed-end home equity loans consists of $2,328 million of first lien and $172 million of second lien at 3/31/2022.
(3)    Regions ceased originating indirect vehicle loans in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.
As of
End of Period Loans by Percentage3/31/202212/31/20219/30/20216/30/20213/31/2021
Commercial and industrial51.1 %49.9 %50.1 %50.7 %51.0 %
Commercial real estate mortgage—owner-occupied5.8 %6.0 %6.5 %6.4 %6.3 %
Commercial real estate construction—owner-occupied0.3 %0.3 %0.3 %0.3 %0.3 %
Total commercial57.2 %56.2 %56.9 %57.4 %57.6 %
Commercial investor real estate mortgage6.2 %6.2 %6.7 %6.5 %6.4 %
Commercial investor real estate construction1.8 %1.8 %2.0 %2.1 %2.1 %
Total investor real estate8.0 %8.0 %8.7 %8.6 %8.5 %
Total business65.2 %64.2 %65.6 %66.0 %66.1 %
Residential first mortgage19.4 %19.9 %20.8 %20.3 %19.6 %
Home equity—lines of credit 4.0 %4.3 %4.7 %4.8 %5.1 %
Home equity—closed-end 2.8 %2.9 %3.1 %3.1 %3.1 %
Consumer credit card1.3 %1.3 %1.4 %1.3 %1.3 %
Other consumer—exit portfolios1.0 %1.2 %1.5 %1.8 %2.1 %
Other consumer6.3 %6.2 %2.8 %2.7 %2.7 %
Total consumer34.8 %35.8 %34.4 %34.0 %33.9 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %


15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Average Balances of Loans
 Average Balances
($ amounts in millions)1Q224Q213Q212Q211Q211Q22 vs. 4Q211Q22 vs. 1Q21
Commercial and industrial$43,993 $42,254 $41,892 $43,140 $42,816 $1,739 4.1 %$1,177 2.7 %
Commercial real estate mortgage—owner-occupied5,237 5,386 5,436 5,358 5,375 (149)(2.8)%(138)(2.6)%
Commercial real estate construction—owner-occupied269 263 246 276 303 6 2.3 %(34)(11.2)%
Total commercial49,499 47,903 47,574 48,774 48,494 1,596 3.3 %1,005 2.1 %
Commercial investor real estate mortgage5,514 5,531 5,605 5,521 5,375 (17)(0.3)%139 2.6 %
Commercial investor real estate construction1,568 1,654 1,706 1,761 1,847 (86)(5.2)%(279)(15.1)%
Total investor real estate7,082 7,185 7,311 7,282 7,222 (103)(1.4)%(140)(1.9)%
Total business 56,581 55,088 54,885 56,056 55,716 1,493 2.7 %865 1.6 %
Residential first mortgage17,496 17,413 17,198 16,795 16,606 83 0.5 %890 5.4 %
Home equity—lines of credit3,667 3,806 3,956 4,165 4,416 (139)(3.7)%(749)(17.0)%
Home equity—closed-end2,496 2,528 2,567 2,609 2,669 (32)(1.3)%(173)(6.5)%
Consumer credit card1,142 1,155 1,128 1,108 1,151 (13)(1.1)%(9)(0.8)%
Other consumer—exit portfolios (1)
987 1,160 1,363 1,599 1,884 (173)(14.9)%(897)(47.6)%
Other consumer5,445 5,398 2,253 2,219 2,313 47 0.9 %3,132 135.4 %
Total consumer31,233 31,460 28,465 28,495 29,039 (227)(0.7)%2,194 7.6 %
Total loans$87,814 $86,548 $83,350 $84,551 $84,755 $1,266 1.5 %$3,059 3.6 %
_____
NM - Not meaningful.
(1)Regions ceased originating indirect vehicle lending in the second quarter of 2019 and decided not to renew another third party relationship in the fourth quarter of 2019.








16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
End of Period Deposits
 As of
     3/31/20223/31/2022
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021 vs. 12/31/2021 vs. 3/31/2021
Interest-free deposits$59,590 $58,369 $57,145 $56,468 $55,925$1,2212.1%$3,6656.6%
Interest-bearing checking28,001 28,018 25,217 25,512 24,757(17)(0.1)%3,24413.1%
Savings16,101 15,134 14,573 14,099 13,5009676.4%2,60119.3%
Money market—domestic31,677 31,408 30,736 30,725 30,4482690.9%1,2294.0%
Low-cost deposits135,369 132,929 127,671 126,804 124,6302,4401.8%10,7398.6%
Time deposits5,653 6,143 4,368 4,679 4,970(490)(8.0)%68313.7%
Corporate treasury time deposits— — — 1 2—NM(2)(100.0)%
Total Deposits$141,022 $139,072 $132,039 $131,484 $129,602$1,9501.4%$11,4208.8%
 As of
   3/31/20223/31/2022
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021 vs. 12/31/2021 vs. 3/31/2021
Consumer Bank Segment$85,219 $82,849 $79,873 $78,428 $77,381$2,3702.9%$7,83810.1%
Corporate Bank Segment42,836 42,689 41,442 43,147 42,2111470.3%6251.5%
Wealth Management Segment10,420 10,853 10,251 9,477 9,537(433)(4.0)%8839.3%
Other (1)
2,547 2,681 473 432 473(134)(5.0)%2,074438.5%
Total Deposits$141,022 $139,072 $132,039 $131,484 $129,602$1,9501.4%$11,4208.8%
 As of
    3/31/20223/31/2022
($ amounts in millions)3/31/202212/31/20219/30/20216/30/20213/31/2021 vs. 12/31/2021 vs. 3/31/2021
Wealth Management - Private Wealth$9,472 $10,033 $9,046 $8,614 $8,589$(561)(5.6)%$88310.3%
Wealth Management - Institutional Services948 820 1,205 863 94812815.6%——%
Total Wealth Management Segment Deposits$10,420 $10,853 $10,251 $9,477 $9,537$(433)(4.0)%$8839.3%
As of
End of Period Deposits by Percentage3/31/202212/31/20219/30/20216/30/20213/31/2021
Interest-free deposits42.3 %42.0 %43.3 %42.9 %43.2 %
Interest-bearing checking19.9 %20.1 %19.1 %19.4 %19.1 %
Savings11.4 %10.9 %11.0 %10.7 %10.4 %
Money market—domestic22.5 %22.6 %23.3 %23.4 %23.5 %
Low-cost deposits96.1 %95.6 %96.7 %96.4 %96.2 %
Time deposits3.9 %4.4 %3.3 %3.6 %3.8 %
Total Deposits100.0 %100.0 %100.0 %100.0 %100.0 %
NM - Not meaningful.
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).










17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)1Q224Q213Q212Q211Q211Q22 vs. 4Q211Q22 vs. 1Q21
Interest-free deposits$58,117 $57,840 $56,999 $56,595 $51,839 $277 0.5 %$6,278 12.1 %
Interest-bearing checking27,771 26,000 25,277 25,044 24,171 1,771 6.8 %3,600 14.9 %
Savings15,539 14,854 14,328 13,914 12,340 685 4.6 %3,199 25.9 %
Money market—domestic31,402 31,483 30,765 30,762 29,425 (81)(0.3)%1,977 6.7 %
Low-cost deposits132,829 130,177 127,369 126,315 117,775 2,652 2.0 %15,054 12.8 %
Time deposits5,905 6,505 4,527 4,813 5,158 (600)(9.2)%747 14.5 %
Corporate treasury time deposits— — 1 1 4 — NM(4)(100.0)%
Corporate treasury other deposits— — — 3 — — NM— NM
Total Deposits$138,734 $136,682 $131,897 $131,132 $122,937 $2,052 1.5 %15,797 12.8 %
 Average Balances
($ amounts in millions)1Q224Q213Q212Q211Q211Q22 vs. 4Q211Q22 vs. 1Q21
Consumer Bank Segment$83,054 $80,930 $79,098 $78,200 $72,949 $2,124 2.6 %$10,105 13.9 %
Corporate Bank Segment42,609 42,659 42,525 42,966 40,285 (50)(0.1)%2,324 5.8 %
Wealth Management Segment10,407 10,054 9,873 9,519 9,281 353 3.5 %1,126 12.1 %
Other (1)
2,664 3,039 401 447 422 (375)(12.3)%2,242 NM
Total Deposits$138,734 $136,682 $131,897 $131,132 $122,937 $2,052 1.5 %$15,797 12.8 %
 Average Balances
($ amounts in millions)1Q224Q213Q212Q211Q211Q22 vs. 4Q211Q22 vs. 1Q21
Wealth Management - Private Wealth$9,591 $9,266 $9,036 $8,673 $8,442 $325 3.5 %$1,149 13.6 %
Wealth Management - Institutional Services816 788 837 846 839 28 3.6 %(23)(2.7)%
Total Wealth Management Segment Deposits$10,407 $10,054 $9,873 $9,519 $9,281 $353 3.5 %$1,126 12.1 %
________
NM - Not meaningful.
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).






18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures
Tangible Common Ratios
The following tables provide the calculation of the end of period “tangible common shareholders’ equity” and "tangible common book value per share" ratios, and a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, we believe that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

  As of and for Quarter Ended
($ amounts in millions, except per share data) 3/31/202212/31/20219/30/20216/30/20213/31/2021
Tangible Common Ratios
Shareholders’ equity (GAAP)$16,982 $18,326 $18,605 $18,252 $17,862 
Less:
Preferred stock (GAAP)1,659 1,659 1,659 1,659 1,656 
Intangible assets (GAAP)6,040 6,049 5,282 5,289 5,295 
Deferred tax liability related to intangibles (GAAP)(101)(100)(97)(96)(96)
Tangible common shareholders’ equity (non-GAAP)A$9,384 $10,718 $11,761 $11,400 $11,007 
Total assets (GAAP)$164,082 $162,938 $156,153 $155,610 $153,331 
Less:
Intangible assets (GAAP)6,040 6,049 5,282 5,289 5,295 
Deferred tax liability related to intangibles (GAAP)(101)(100)(97)(96)(96)
Tangible assets (non-GAAP)B$158,143 $156,989 $150,968 $150,417 $148,132 
Shares outstanding—end of quarterC933 942 955 955 961 
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)
A/B5.93 %6.83 %7.79 %7.58 %7.43 %
Tangible common book value per share (non-GAAP) (1)
A/C$10.06 $11.38 $12.32 $11.94 $11.46 
_________
(1)Amounts have been calculated using whole dollar values.


19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:
•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.
•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings.
•Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity.
•The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of any pandemic, including the COVID-19 pandemic, could disrupt the global economy, adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses.
•Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in tax law, adverse changes in the economic environment, declining operations of the reporting unit or other factors.
•The effect of new tax legislation and/or interpretation of existing tax law, which may impact our earnings, capital ratios, and our ability to return capital to shareholders.
•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.
•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.
•Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities.
•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.
•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.
•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are.
•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.
•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.
•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the changes in U.S. presidential administration, control of the U.S. Congress, and changes in personnel at the bank regulatory agencies, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.
•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.
•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.
•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.
•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.
•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our businesses.
•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.
•The risks and uncertainties related to our acquisition or divestiture of businesses, including our recently completed acquisitions of EnerBank, Sabal, and Clearsight, and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within the expected timeframes, or might be less than projected; difficulties in integrating the businesses; and the inability of Regions to effectively cross-sell products following these acquisitions.
•The success of our marketing efforts in attracting and retaining customers.
•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.
•Fraud or misconduct by our customers, employees or business partners.
•Any inaccurate or incomplete information provided to us by our customers or counterparties.
•Inability of our framework to manage risks associated with our businesses, such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively.
•Dependence on key suppliers or vendors to obtain equipment and other supplies for our businesses on acceptable terms.
•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.
•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.

20
Regions Financial Corporation and Subsidiaries                                
Financial Supplement (unaudited) to First Quarter 2022 Earnings Release
•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and frequency of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.
•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.
•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our businesses and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.
•Our ability to achieve our expense management initiatives.
•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.
•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.
•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.
•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.
•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.
•The effects of anti-takeover and exclusive forum laws and provision in our certificate of incorporation and bylaws.
•The effects of any damage to our reputation resulting from developments related to any of the items identified above.
•Other risks identified from time to time in reports that we file with the SEC.

The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2021 as filed with the SEC.
Forward-looking statements are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including the impact of additional variants and resurgences), the effectiveness, availability and acceptance of any vaccines or therapies, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us.
The words “future,” “anticipates,” “assumes,” “intends,” “plans,” “seeks,” “believes,” “predicts,” “potential,” “objectives,” “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” “would,” “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

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