8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

  FORM 8-K

 CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): July 19, 2024

 REGIONS FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	001-34034	63-0589368
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1900 Fifth Avenue North

Birmingham, Alabama 35203

(Address, including zip code, of principal executive office)

Registrant’s telephone number, including area code: (800) 734-4667

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $.01 par value	RF	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B	RF PRB	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C	RF PRC	New York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
4.45% Non-Cumulative Perpetual Preferred Stock, Series E	RF PRE	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02    Results of Operations and Financial Condition.

Item 7.01    Regulation FD Disclosure.

On July 19, 2024, Regions Financial Corporation (“Regions”) issued a press release announcing its preliminary results of operations for the quarter ended June 30, 2024. A copy of the press release is attached hereto as Exhibit 99.1. Supplemental financial information for the quarter ended June 30, 2024 is attached as Exhibit 99.2. Executives from Regions will review the results via a live audio webcast at 10:00 a.m. Eastern time on July 19, 2024. A copy of a visual presentation that will be a part of that review is attached as Exhibit 99.3. All of the attached exhibits are incorporated herein by reference and may also be found on Regions’ website at www.regions.com. An archived recording of the webcast will be available for a limited time on the Investor Relations page of that website.

In accordance with general instruction B.2. of Form 8-K, this information is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as may be expressly set forth by specific reference in any such filing.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number	Description of Exhibit
99.1	Press Release dated July 19, 2024.
99.2	Supplemental Financial Information for the Quarter Ended June 30, 2024.
99.3	Visual Presentation of July 19, 2024.
104	Cover Page Interactive Data (embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

                                

REGIONS FINANCIAL CORPORATION
By:	/s/ Karin K. Allen
Name:	Karin K. Allen
Title:	Executive Vice President and Assistant Controller (Chief Accounting Officer and Authorized Officer)

Date: July 19, 2024

EX-99.1

Exhibit 99.1

Media Contact:	Investor Relations Contact:
Jeremy King	Dana Nolan
(205) 264-4551	(205) 264-7040

Regions reports second quarter 2024 earnings of $477 million, earnings per diluted share of $0.52

Solid core performance, favorable credit trends combine to further position the company for consistent, sustainable results.

BIRMINGHAM, Ala. - (BUSINESS WIRE) - July 19, 2024 - Regions Financial Corp. (NYSE:RF) today reported earnings for the second quarter ended June 30, 2024. The company reported second quarter net income available to common shareholders of $477 million and earnings per diluted share of $0.52. The company reported $1.7 billion in total revenue during the quarter, including $727 million in reported pre-tax pre-provision income(1) and $749 million in adjusted pre-tax pre-provision income(1). Second quarter results include the following notable items: an addition to the industry-wide FDIC special assessment accrual, severance-related charges, a contingent reserve release related to a prior acquisition, and the impact of additional securities repositioning.

“Our teams delivered solid second quarter results driven by the successful execution of Regions' business strategies. We have a great plan, and the investments we are making in talent, technology, products and services will continue to benefit us as macroeconomic conditions improve," said John Turner, Chairman, President and CEO of Regions Financial Corp.

Turner added, "The company exceeded all minimum capital levels and maintained a preliminary stress capital buffer at the 2.5 percent floor in the recent Federal Reserve Supervisory Stress Test. These results further underscore the value of our strong and diverse balance sheet, solid capital and liquidity levels, and prudent risk management strategies. We have a strong foundation from which to generate consistent, sustainable, long-term performance and top-quartile returns as we remain focused on execution."

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SUMMARY OF SECOND QUARTER 2024 RESULTS:

	Quarter Ended
(amounts in millions, except per share data)	6/30/2024		3/31/2024		6/30/2023
Net income	$	501	$	368	$	581
Preferred dividends and other	24		25		25
Net income available to common shareholders	$	477	$	343	$	556
Weighted-average diluted shares outstanding	918		923		939
Actual shares outstanding—end of period	915		918		939
Diluted earnings per common share	$	0.52	$	0.37	$	0.59
Selected items impacting earnings:
Pre-tax adjusted items(1):
Adjustments to non-interest expense(1)	$	28	$	(34)	$	(1)
Adjustments to non-interest income(1)	(50)		(50)		—
Total pre-tax adjusted items(1)	$	(22)	$	(84)	$	(1)
Diluted EPS impact*	$	(0.01)	$	(0.07)	$	—
Pre-tax additional selected items**:
Incremental operational losses related to check warranty claims	$	—	$	(22)	$	(82)

*     Based on income taxes at an approximate 25% incremental rate. The 2Q24 adjustment to non-interest expense for a contingent reserve release related to a prior acquisition included a non-taxable component.

**     Items impacting results or trends during the period, but are not considered non-GAAP adjustments.

Non-GAAP adjusted items(1) impacting the company's earnings are identified to assist investors in analyzing Regions' operating results on the same basis as that applied by management and provide a basis to predict future performance.

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Total revenue

	Quarter Ended
($ amounts in millions)	6/30/2024			3/31/2024			6/30/2023			2Q24 vs. 1Q24				2Q24 vs. 2Q23
Net interest income	$	1,186		$	1,184		$	1,381		$	2	0.2	%	$	(195)	(14.1)	%
Taxable equivalent adjustment	12			13			12			(1)		(7.7)	%	—		—	%
Net interest income, taxable equivalent basis	$	1,198		$	1,197		$	1,393		$	1	0.1	%	$	(195)	(14.0)	%
Net interest margin (FTE)	3.51		%	3.55		%	4.04		%
Non-interest income:
Service charges on deposit accounts	$	151		$	148		$	152		$	3	2.0	%	$	(1)	(0.7)	%
Card and ATM fees	120			116			130			4		3.4	%	(10)		(7.7)	%
Wealth management income	122			119			110			3		2.5	%	12		10.9	%
Capital markets income	68			91			68			(23)		(25.3)	%	—		—	%
Mortgage income	34			41			26			(7)		(17.1)	%	8		30.8	%
Commercial credit fee income	28			27			28			1		3.7	%	—		—	%
Bank-owned life insurance	30			23			19			7		30.4	%	11		57.9	%
Market value adjustments on employee benefit assets*	2			15			—			(13)		(86.7)	%	2		NM
Securities gains (losses), net	(50)			(50)			—			—		—	%	(50)		NM
Other miscellaneous income	40			33			43			7		21.2	%	(3)		(7.0)	%
Non-interest income	$	545		$	563		$	576		$	(18)	(3.2)	%	$	(31)	(5.4)	%
Total revenue	$	1,731		$	1,747		$	1,957		$	(16)	(0.9)	%	$	(226)	(11.5)	%
Adjusted total revenue (non-GAAP)(1)	$	1,781		$	1,797		$	1,957		$	(16)	(0.9)	%	$	(176)	(9.0)	%

NM - Not Meaningful

* These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits and other non-interest expense.

Total revenue remained relatively stable at approximately $1.7 billion on a reported basis and $1.8 billion on an adjusted basis(1) compared to the first quarter of 2024. Net interest income remained stable at $1.2 billion compared to the first quarter as deposit cost pressures eased and asset yields benefited from the maturity and replacement of lower-yielding, fixed rate loans and securities at current levels. Total net interest margin decreased 4 basis points to 3.51 percent, largely attributable to holding higher cash balances. Management expects net interest income to modestly increase over the second half of 2024.

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Non-interest income decreased 3 percent on both a reported and adjusted basis(1) compared to the first quarter of 2024. With respect to adjusted items, the company executed modest securities repositioning trades incurring $50 million in losses during both the first and second quarters. Service charges increased modestly attributable primarily to an additional business day in the quarter. Card and ATM fees increased 3 percent due to higher debit and credit card transaction volumes. Wealth Management increased 3 percent driven by increased sales activity and continued strength in financial markets. Bank-owned life insurance increased 30 percent attributable to higher claims income. As expected, capital markets income decreased 25 percent to $68 million, attributable to decreased merger and acquisition advisory services, real estate transactions, and debt capital markets activity. Mortgage income decreased during the quarter primarily due to a $6 million favorable adjustment to the company's mortgage pipeline valuation in the prior quarter that did not repeat. Other non-interest income increased 21 percent during the quarter attributable primarily to negative valuation adjustments on certain equity investments in the prior quarter that did not repeat.

Non-interest expense

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Salaries and employee benefits	$	609	$	658	$	603	$	(49)	(7.4)	%	$	6	1.0	%
Equipment and software expense	100		101		101		(1)		(1.0)	%	(1)		(1.0)	%
Net occupancy expense	68		74		73		(6)		(8.1)	%	(5)		(6.8)	%
Outside services	40		39		42		1		2.6	%	(2)		(4.8)	%
Marketing	27		27		26		—		—	%	1		3.8	%
Professional, legal and regulatory expenses	25		28		20		(3)		(10.7)	%	5		25.0	%
Credit/checkcard expenses	15		14		15		1		7.1	%	—		—	%
FDIC insurance assessments	29		43		29		(14)		(32.6)	%	—		—	%
Visa class B shares expense	5		4		9		1		25.0	%	(4)		(44.4)	%
Operational losses(1)	18		42		95		(24)		(57.1)	%	(77)		(81.1)	%
Branch consolidation, property and equipment charges	1		1		1		—		—	%	—		—	%
Other	67		100		97		(33)		(33.0)	%	(30)		(30.9)	%
Total non-interest expense	$	1,004	$	1,131	$	1,111	$	(127)	(11.2)	%	$	(107)	(9.6)	%
Total adjusted non-interest expense(1)	$	1,032	$	1,097	$	1,110	$	(65)	(5.9)	%	$	(78)	(7.0)	%

NM - Not Meaningful

(1) The incremental increase in operational losses primarily due to check-related warranty claims totaled $22 million in the first quarter of 2024.

Non-interest expense decreased 11 percent and 6 percent on a reported and adjusted basis(1), respectively, compared to the first quarter of 2024. Second quarter adjusted items included a $37 million contingent reserve release related to a prior acquisition reflected in other expenses, an additional $4 million for Regions' FDIC insurance special assessment accrual, and $4 million of additional severance charges. Salaries and benefits decreased 7 percent driven primarily by seasonal factors such as payroll tax and 401(k) match resets and higher incentive compensation in the prior quarter. Operational losses also decreased compared to the prior quarter as losses continue to normalize from elevated levels experienced in recent quarters. Incident levels have normalized

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to expected levels and the company continues to expect operational losses to be approximately $100 million for full-year 2024. Occupancy expense decreased 8 percent as the company continues to focus on reducing occupied square footage.

The company's second quarter efficiency ratio was 57.6 percent on both a reported and adjusted basis(1). The effective tax rate was 19.8 percent in the second quarter.

Loans and Leases

	Average Balances
($ amounts in millions)	2Q24		1Q24		2Q23		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Commercial and industrial	$	50,046	$	50,090	$	52,039	$	(44)	(0.1)	%	$	(1,993)	(3.8)%
Commercial real estate—owner-occupied	5,115		5,131		5,197		(16)		(0.3)	%	(82)		(1.6)%
Investor real estate	8,839		8,833		8,482		6		0.1	%	357		4.2%
Business Lending	64,000		64,054		65,718		(54)		(0.1)	%	(1,718)		(2.6)%
Residential first mortgage	20,191		20,188		19,427		3		—	%	764		3.9%
Home equity	5,557		5,605		5,785		(48)		(0.9)	%	(228)		(3.9)%
Consumer credit card	1,331		1,315		1,217		16		1.2	%	114		9.4%
Other consumer—exit portfolios	22		35		450		(13)		(37.1)	%	(428)		(95.1)%
Other consumer*	6,180		6,223		5,984		(43)		(0.7)	%	196		3.3%
Consumer Lending	33,281		33,366		32,863		(85)		(0.3)	%	418		1.3%
Total Loans	$	97,281	$	97,420	$	98,581	$	(139)	(0.1)	%	$	(1,300)	(1.3)%

NM - Not meaningful.

*     Other consumer loans includes EnerBank (Regions' point of sale home improvement portfolio).

Average loans and leases remained relatively stable compared to the prior quarter. Within the business portfolio, average loans remained relatively stable, while ending loans increased 1 percent. Despite near-term macroeconomic and political uncertainty, pipelines are beginning to rebuild. Commercial loans refinanced off balance sheet through the debt capital markets normalized after experiencing elevated levels during the prior quarter.

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Deposits

	Average Balances
($ amounts in millions)	2Q24		1Q24		2Q23		2Q24 vs. 1Q24			2Q24 vs. 2Q23
Total interest-bearing deposits	$	86,385	$	86,200	$	78,361	$	185	0.2%	$	8,024	10.2%
Non-interest-bearing deposits	40,516		40,926		47,178		(410)		(1.0)%	(6,662)		(14.1)%
Total Deposits	$	126,901	$	127,126	$	125,539	$	(225)	(0.2)%	$	1,362	1.1%
($ amounts in millions)	2Q24		1Q24		2Q23		2Q24 vs. 1Q24			2Q24 vs. 2Q23
Consumer Bank Segment	$	79,809	$	79,150	$	80,999	$	659	0.8%	$	(1,190)	(1.5)%
Corporate Bank Segment	36,669		37,064		34,860		(395)		(1.1)%	1,809		5.2%
Wealth Management Segment	7,534		7,766		7,470		(232)		(3.0)%	64		0.9%
Other	2,889		3,146		2,210		(257)		(8.2)%	679		30.7%
Total Deposits	$	126,901	$	127,126	$	125,539	$	(225)	(0.2)%	$	1,362	1.1%

	Ending Balances as of
							6/30/2024			6/30/2024
($ amounts in millions)	6/30/2024		3/31/2024		6/30/2023		vs. 3/31/2024			vs. 6/30/2023
Consumer Bank Segment	$	80,126	$	81,129	$	81,554	$	(1,003)	(1.2)%	$	(1,428)	(1.8)%
Corporate Bank Segment	36,529		37,043		35,332		(514)		(1.4)%	1,197		3.4%
Wealth Management Segment	7,383		7,792		7,176		(409)		(5.2)%	207		2.9%
Other	2,578		3,018		2,897		(440)		(14.6)%	(319)		(11.0)%
Total Deposits	$	126,616	$	128,982	$	126,959	$	(2,366)	(1.8)%	$	(343)	(0.3)%

The company's deposit base continues to be a source of strength and a differentiator in liquidity and margin performance. Total ending deposits decreased 2 percent while average deposits decreased modestly during the second quarter, consistent with seasonal, tax-related outflows. Growth in average Consumer deposits was offset by declines in the other segments.

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Asset quality

	As of and for the Quarter Ended
($ amounts in millions)	6/30/2024	3/31/2024	6/30/2023
Allowance for credit losses (ACL) at period end	$1,732	$1,731	$1,633
ACL/Loans, net	1.78%	1.79%	1.65%
ALL/Loans, net	1.66%	1.67%	1.53%
Allowance for credit losses to non-performing loans, excluding loans held for sale	204%	191%	332%
Allowance for loan losses to non-performing loans, excluding loans held for sale	191%	179%	308%
Provision for credit losses	$102	$152	$118
Net loans charged-off	$101	$121	$81
Net loans charged-off as a % of average loans, annualized	0.42%	0.50%	0.33%
Non-performing loans, excluding loans held for sale/Loans, net	0.87%	0.94%	0.50%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale	0.88%	0.95%	0.51%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale*	1.06%	1.10%	0.64%
Total Criticized Loans—Business Services**	$4,863	$4,978	$4,039

* Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing.

** Business services represents the combined total of commercial and investor real estate loans.

The company experienced broad-based improvement in overall asset quality during the quarter. Non-performing and business services criticized loans decreased compared to the prior quarter. Net charge-offs improved sequentially, totaling $101 million, or 42 basis points of average loans. Net charge-offs are expected to be towards the upper end of the 40 to 50 basis point range attributable to a few large credits within areas previously identified as under stress. However, these expected losses are reflected within the allowance for credit losses as of quarter-end.

The allowance for credit loss ratio decreased 1 basis point to 1.78 percent of total loans, while the allowance as a percentage of nonperforming loans increased to 204 percent.

Capital and liquidity

	As of and for Quarter Ended
	6/30/2024	3/31/2024	6/30/2023
Common Equity Tier 1 ratio(2)	10.4%	10.3%	10.1%
Tier 1 capital ratio(2)	11.7%	11.6%	11.4%
Tangible common stockholders’ equity to tangible assets (non-GAAP)(1)	6.55%	6.42%	6.09%
Tangible common book value per share (non-GAAP)(1)*	$10.61	$10.42	$9.72
Loans, net of unearned income, to total deposits	77.0%	75.1%	78.1%

* Tangible common book value per share includes the impact of quarterly earnings and changes to market value adjustments within accumulated other comprehensive income, as well as continued capital returns.

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Regions maintains a solid capital position with estimated capital ratios remaining well above current regulatory requirements. The Common Equity Tier 1(2) and Tier 1(2) ratios were estimated at 10.4 percent and 11.7 percent, respectively, at quarter-end.

During the second quarter, the company repurchased approximately 4.5 million shares of common stock for a total of $87 million through open market purchases and declared $220 million in dividends to common shareholders. Earlier this week, the Board of Directors declared a quarterly common stock dividend of $0.25 per share, a 4 percent increase over the second quarter. This increase is in addition to the 20 percent increase last year, representing three consecutive years of robust dividend growth well-supported by underlying financial performance.

The company received its results from the Federal Reserve Supervisory Stress Test and exceeded all minimum capital levels under the provided scenarios. As a result, Regions' preliminary Stress Capital Buffer requirement will remain at 2.5 percent. Regions' robust capital planning process is designed to ensure the efficient use of capital to support lending activities, business growth opportunities and appropriate shareholder returns.

The company's liquidity position also remains robust as of June 30, 2024, with total available liquidity of approximately $57 billion, which includes cash held at the Federal Reserve, FHLB borrowing capacity, unencumbered securities, and capacity at the Federal Reserve's Discount Window. These sources are sufficient to cover uninsured deposits at a ratio of 172 percent as of quarter end (this ratio excludes intercompany and secured deposits).

(1)Non-GAAP; refer to pages 12, 16, 17 and 18 of the financial supplement to this earnings release for reconciliations.

(2)Current quarter Common Equity Tier 1, and Tier 1 capital ratios are estimated.

Conference Call

In addition to the live audio webcast at 10 a.m. ET on Jul. 19, 2024, an archived recording of the webcast will be available at the Investor Relations page of ir.regions.com following the live event.

About Regions Financial Corporation

Regions Financial Corporation (NYSE:RF), with $154 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, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,250 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Forward-Looking Statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. Forward-looking

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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. 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 interest rates and unemployment rates, inflation, 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 businesses and our financial results and conditions.

•Changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets (such as our portfolio of investment securities) and obligations, as well as the availability and cost of capital and liquidity.

•Volatility and uncertainty about the direction of interest rates and the timing of any changes, which may lead to increased costs for businesses and consumers and potentially contribute to poor business and economic conditions generally.

•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 declining interest rates, and the related acceleration of premium amortization on those securities.

•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.

•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, or the need to price interest-bearing deposits higher due to competitive forces. Either of these activities could increase our funding costs.

•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.

•The loss of value of our investment portfolio could negatively impact market perceptions of us.

•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.

•The effects of social media on market perceptions of us and banks generally.

•Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.

•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.

•Volatility in the financial services industry (including failures or rumors of failures of other depository institutions), along with actions taken by governmental agencies to address such turmoil, could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital.

•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of which 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.

•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 and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within expected timeframes, or might be less than projected; and difficulties in integrating acquired businesses.

•The success of our marketing efforts in attracting and retaining customers.

•Our ability to achieve our expense management initiatives.

•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 the ability of those borrowers to service any loans outstanding to them and/or reduce demand for loans in those industries.

•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.

•Fraud, theft or other misconduct conducted by external parties, including our customers and business partners, or by our employees.

•Any inaccurate or incomplete information provided to us by our customers or counterparties.

9

•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 inability 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.

•Our ability to identify and address operational risks associated with the introduction of or changes to products, services, or delivery platforms.

•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.

•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.

•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.

•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.

•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, such as changes to debit card interchange fees, special FDIC assessments, any new long-term debt requirements, 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.

•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.

•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.

•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 laws and exclusive forum provision in our certificate of incorporation and bylaws.

•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.

•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.

•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 effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes and environmental damage (especially 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.

•The impact of pandemics on our businesses, operations and financial results and conditions. The duration and severity of any pandemic as well as government actions or other restrictions in connection with such events 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.

•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” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2023 and in Regions’ subsequent filings with the SEC.

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.

10

Use of non-GAAP financial measures

Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) 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. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) 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. Net loan charge-offs (GAAP) are presented excluding adjustments to arrive at adjusted net loan-charge offs (non-GAAP). Adjusted net loan charge-offs as a percentage of average loans (non-GAAP) are calculated as adjusted net loan charge-offs (non-GAAP) divided by average loans (GAAP) and annualized. 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. 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.

Tangible common stockholders’ 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 stockholders’ equity measure. Because tangible common stockholders’ 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 stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

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 earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders.

Management and the Board of Directors utilize non-GAAP measures as follows:

•Preparation of Regions' operating budgets

•Monthly financial performance reporting

•Monthly close-out reporting of consolidated results (management only)

•Presentation to investors of company performance

•Metrics for incentive compensation

Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

11

EX-99.2

Exhibit 99.2

Regions Financial Corporation and Subsidiaries

Financial Supplement (unaudited)

Second Quarter 2024

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Table of Contents

	Page
Financial Highlights	1
Selected Ratios and Other Information*	2
Consolidated Balance Sheets	3
Loans	4
Deposits	6
Consolidated Statements of Income	8
Consolidated Average Daily Balances and Yield / Rate Analysis	10
Pre-Tax Pre-Provision Income ("PPI")* and Adjusted PPI*	12
Non-Interest Income, Mortgage Income, Wealth Management Income and Capital Markets Income	13
Non-Interest Expense	15
Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures*
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income / Expense, Adjusted Operating Leverage Ratios, Return Ratios, and Tangible Common Ratios	16
Credit Quality
Allowance for Credit Losses, Net Charge-Offs and Related Ratios, Adjusted Net Charge-Offs and Related Ratios	19
Non-Accrual Loans (excludes loans held for sale), Early and Late Stage Delinquencies	21
Forward-Looking Statements	22

*Use of non-GAAP financial measures

Regions believes that presentation of non-GAAP financial measures provides a meaningful basis for period to period comparisons, which management believes will assist investors in assessing 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 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 earnings that excludes certain adjustments does not represent the amount that effectively accrues directly to shareholders. Additionally, our non-GAAP financial measures may not be comparable to similar non-GAAP financial measures used by other companies.

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Financial Highlights

	Quarter Ended
($ amounts in millions, except per share data)	6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
Earnings Summary
Interest income - taxable equivalent	$	1,774		$	1,737		$	1,764		$	1,779		$	1,751
Interest expense - taxable equivalent	576			540			520			475			358
Net interest income - taxable equivalent	1,198			1,197			1,244			1,304			1,393
Less: Taxable-equivalent adjustment	12			13			13			13			12
Net interest income	1,186			1,184			1,231			1,291			1,381
Provision for credit losses	102			152			155			145			118
Net interest income after provision for credit losses	1,084			1,032			1,076			1,146			1,263
Non-interest income	545			563			580			566			576
Non-interest expense	1,004			1,131			1,185			1,093			1,111
Income before income taxes	625			464			471			619			728
Income tax expense	124			96			80			129			147
Net income	$	501		$	368		$	391		$	490		$	581
Net income available to common shareholders	$	477		$	343		$	367		$	465		$	556
Weighted-average shares outstanding—during quarter:
Basic	917			921			931			939			939
Diluted	918			923			931			940			939
Earnings per common share - basic	$	0.52		$	0.37		$	0.39		$	0.49		$	0.59
Earnings per common share - diluted	$	0.52		$	0.37		$	0.39		$	0.49		$	0.59
Balance Sheet Summary
At quarter-end
Loans, net of unearned income	$	97,508		$	96,862		$	98,379		$	98,942		$	99,191
Allowance for credit losses	(1,732		)	(1,731		)	(1,700		)	(1,677		)	(1,633		)
Assets	154,052			154,909			152,194			153,624			155,656
Deposits	126,616			128,982			127,788			126,199			126,959
Long-term borrowings	5,083			3,327			2,330			4,290			4,293
Shareholders' equity	17,169			17,044			17,429			16,100			16,639
Average balances
Loans, net of unearned income	$	97,281		$	97,420		$	98,293		$	98,785		$	98,581
Assets	152,867			151,444			151,738			153,484			153,774
Deposits	126,901			127,126			126,414			125,220			125,539
Long-term borrowings	3,595			2,405			3,627			4,295			3,517
Shareholders' equity	16,713			17,121			16,274			16,468			16,892

1

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Selected Ratios and Other Information

	As of and for Quarter Ended
	6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
Return on average assets* (1)	1.32		%	0.98		%	1.02		%	1.26		%	1.52		%
Return on average common shareholders' equity*	12.74		%	8.92		%	9.95		%	12.45		%	14.65		%
Return on average tangible common shareholders’ equity (non-GAAP)* (2)	20.75		%	14.31		%	16.57		%	20.58		%	23.82		%
Return on average tangible common shareholders’ equity excluding AOCI (non-GAAP)* (2)	15.02		%	10.81		%	11.45		%	14.58		%	18.14		%
Efficiency ratio	57.6		%	64.3		%	65.0		%	58.5		%	56.4		%
Adjusted efficiency ratio (non-GAAP) (2)	57.6		%	60.6		%	56.9		%	58.2		%	56.4		%
Dividend payout ratio (3)	46.1		%	64.2		%	60.5		%	48.5		%	33.7		%
Common book value per share	$	16.94		$	16.76		$	17.07		$	15.38		$	15.95
Tangible common book value per share (non-GAAP) (2)	$	10.61		$	10.42		$	10.77		$	9.16		$	9.72
Total shareholders' equity to total assets	11.14		%	11.00		%	11.45		%	10.48		%	10.69		%
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)	6.55		%	6.42		%	6.79		%	5.82		%	6.09		%
Common equity (4)	$	13,093		$	12,913		$	12,976		$	13,056		$	12,786
Total risk-weighted assets (4)	$	125,725		$	125,167		$	126,475		$	126,900		$	126,947
Common equity Tier 1 ratio (4)	10.4		%	10.3		%	10.3		%	10.3		%	10.1		%
Tier 1 capital ratio (4)	11.7		%	11.6		%	11.6		%	11.6		%	11.4		%
Total risk-based capital ratio (4)	13.6		%	13.6		%	13.4		%	13.4		%	13.1		%
Leverage ratio (4)	9.8		%	9.8		%	9.7		%	9.7		%	9.5		%
Effective tax rate	19.8		%	20.7		%	17.0		%	20.9		%	20.2		%
Allowance for credit losses as a percentage of loans, net of unearned income	1.78		%	1.79		%	1.73		%	1.70		%	1.65		%
Allowance for credit losses to non-performing loans, excluding loans held for sale	204		%	191		%	211		%	261		%	332		%
Net interest margin (FTE)*	3.51		%	3.55		%	3.60		%	3.73		%	4.04		%
Loans, net of unearned income, to total deposits	77.0		%	75.1		%	77.0		%	78.4		%	78.1		%
Net charge-offs as a percentage of average loans*	0.42		%	0.50		%	0.54		%	0.40		%	0.33		%
Adjusted net charge-offs as a percentage of average loans (non-GAAP) * (2)	0.42		%	0.50		%	0.39		%	0.40		%	0.33		%
Non-performing loans, excluding loans held for sale, as a percentage of loans	0.87		%	0.94		%	0.82		%	0.65		%	0.50		%
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale	0.88		%	0.95		%	0.84		%	0.67		%	0.51		%
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, and non-performing loans held for sale (5)	1.06		%	1.10		%	1.01		%	0.81		%	0.64		%
Associate headcount—full-time equivalent	19,595			19,641			20,101			20,257			20,349
ATMs	2,022			2,019			2,023			2,022			2,025
Branch Statistics
Full service	1,236			1,236			1,242			1,243			1,245
Drive-through/transaction service only	26			27			29			29			31
Total branch outlets	1,262			1,263			1,271			1,272			1,276

*Annualized

(1)Calculated by dividing net income by average assets.

(2)See reconciliation of GAAP to non-GAAP Financial Measures that begin on pages 12, 16, 18 and 19.

(3)Dividend payout ratio reflects dividends declared within the applicable period.

(4)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.

(5)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 21 for amounts related to these loans.

2

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Consolidated Balance Sheets

	As of
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023
Assets:
Cash and due from banks	$	2,955	$	2,527	$	2,635	$	1,554	$	2,480
Interest-bearing deposits in other banks	5,524		8,723		4,166		7,462		7,406
Debt securities held to maturity	733		743		754		763		777
Debt securities available for sale	28,537		27,881		28,104		26,228		27,296
Loans held for sale	552		417		400		459		554
Loans, net of unearned income	97,508		96,862		98,379		98,942		99,191
Allowance for loan losses	(1,621)		(1,617)		(1,576)		(1,547)		(1,513)
Net loans	95,887		95,245		96,803		97,395		97,678
Other earning assets	1,844		1,478		1,417		1,552		1,563
Premises and equipment, net	1,630		1,635		1,642		1,616		1,622
Interest receivable	608		588		614		625		575
Goodwill	5,733		5,733		5,733		5,733		5,733
Residential mortgage servicing rights at fair value (MSRs)	1,020		1,026		906		932		801
Other identifiable intangible assets, net	187		196		205		216		226
Other assets	8,842		8,717		8,815		9,089		8,945
Total assets	$	154,052	$	154,909	$	152,194	$	153,624	$	155,656
Liabilities and Equity:
Deposits:
Non-interest-bearing	$	40,927	$	41,824	$	42,368	$	44,640	$	46,898
Interest-bearing	85,689		87,158		85,420		81,559		80,061
Total deposits	126,616		128,982		127,788		126,199		126,959
Borrowed funds:
Short-term borrowings	513		1,000		—		2,000		3,000
Long-term borrowings	5,083		3,327		2,330		4,290		4,293
Other liabilities	4,638		4,522		4,583		5,010		4,743
Total liabilities	136,850		137,831		134,701		137,499		138,995
Equity:
Preferred stock, non-cumulative perpetual	1,659		1,659		1,659		1,659		1,659
Common stock	10		10		10		10		10
Additional paid-in capital	11,575		11,666		11,757		11,996		11,979
Retained earnings	8,561		8,304		8,186		8,042		7,802
Treasury stock, at cost	(1,371)		(1,371)		(1,371)		(1,371)		(1,371)
Accumulated other comprehensive income (loss), net	(3,265)		(3,224)		(2,812)		(4,236)		(3,440)
Total shareholders’ equity	17,169		17,044		17,429		16,100		16,639
Noncontrolling interest	33		34		64		25		22
Total equity	17,202		17,078		17,493		16,125		16,661
Total liabilities and equity	$	154,052	$	154,909	$	152,194	$	153,624	$	155,656

3

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

End of Period Loans

	As of
											6/30/2024				6/30/2024
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		vs. 3/31/2024				vs. 6/30/2023
Commercial and industrial	$	50,222	$	49,701	$	50,865	$	51,604	$	52,300	$	521	1.0	%	$	(2,078)	(4.0)	%
Commercial real estate mortgage—owner-occupied	4,781		4,788		4,887		4,833		4,797		(7)		(0.1)	%	(16)		(0.3)	%
Commercial real estate construction—owner-occupied	370		306		281		270		292		64		20.9	%	78		26.7	%
Total commercial	55,373		54,795		56,033		56,707		57,389		578		1.1	%	(2,016)		(3.5)	%
Commercial investor real estate mortgage	6,536		6,422		6,605		6,436		6,500		114		1.8	%	36		0.6	%
Commercial investor real estate construction	2,301		2,341		2,245		2,301		2,132		(40)		(1.7)	%	169		7.9	%
Total investor real estate	8,837		8,763		8,850		8,737		8,632		74		0.8	%	205		2.4	%
Total business	64,210		63,558		64,883		65,444		66,021		652		1.0	%	(1,811)		(2.7)	%
Residential first mortgage	20,206		20,199		20,207		20,059		19,755		7		—	%	451		2.3	%
Home equity—lines of credit (1)	3,142		3,155		3,221		3,240		3,313		(13)		(0.4)	%	(171)		(5.2)	%
Home equity—closed-end (2)	2,410		2,415		2,439		2,428		2,425		(5)		(0.2)	%	(15)		(0.6)	%
Consumer credit card	1,349		1,314		1,341		1,261		1,231		35		2.7	%	118		9.6	%
Other consumer—exit portfolios (3)	17		28		43		356		416		(11)		(39.3)	%	(399)		(95.9)	%
Other consumer	6,174		6,193		6,245		6,154		6,030		(19)		(0.3)	%	144		2.4	%
Total consumer	33,298		33,304		33,496		33,498		33,170		(6)		—	%	128		0.4	%
Total Loans	$	97,508	$	96,862	$	98,379	$	98,942	$	99,191	$	646	0.7	%	$	(1,683)	(1.7)	%

______

NM - Not meaningful.

(1)     The balance of Regions' home equity lines of credit consists of $1,498 million of first lien and $1,644 million of second lien at 6/30/2024.

(2)    The balance of Regions' closed-end home equity loans consists of $1,973 million of first lien and $437 million of second lien at 6/30/2024.

(3)    Subsequent to the GreenSky loan sale in the fourth quarter of 2023, the exit portfolio consists primarily of indirect auto loans.

	As of
End of Period Loans by Percentage(1)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023
Commercial and industrial	51.5	%	51.3	%	51.7	%	52.2	%	52.7	%
Commercial real estate mortgage—owner-occupied	4.9	%	4.9	%	5.0	%	5.0	%	4.9	%
Commercial real estate construction—owner-occupied	0.4	%	0.3	%	0.3	%	0.3	%	0.3	%
Total commercial	56.8	%	56.6	%	57.0	%	57.5	%	57.9	%
Commercial investor real estate mortgage	6.7	%	6.6	%	6.7	%	6.5	%	6.6	%
Commercial investor real estate construction	2.4	%	2.4	%	2.3	%	2.3	%	2.1	%
Total investor real estate	9.1	%	9.0	%	9.0	%	8.8	%	8.7	%
Total business	65.9	%	65.6	%	66.0	%	66.3	%	66.6	%
Residential first mortgage	20.7	%	20.9	%	20.5	%	20.3	%	19.9	%
Home equity—lines of credit	3.2	%	3.3	%	3.3	%	3.3	%	3.3	%
Home equity—closed-end	2.5	%	2.5	%	2.5	%	2.5	%	2.4	%
Consumer credit card	1.4	%	1.4	%	1.4	%	1.3	%	1.2	%
Other consumer—exit portfolios	—	%	—	%	—	%	0.4	%	0.4	%
Other consumer	6.3	%	6.4	%	6.3	%	5.9	%	6.2	%
Total consumer	34.1	%	34.4	%	34.0	%	33.7	%	33.4	%
Total Loans	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

(1)Amounts have been calculated using whole dollar values.

4

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Average Balances of Loans

	Average Balances
($ amounts in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Commercial and industrial	$	50,046	$	50,090	$	50,939	$	51,721	$	52,039	$	(44)	(0.1)	%	$	(1,993)	(3.8)	%
Commercial real estate mortgage—owner-occupied	4,765		4,833		4,864		4,824		4,905		(68)		(1.4)	%	(140)		(2.9)	%
Commercial real estate construction—owner-occupied	350		298		272		276		292		52		17.4	%	58		19.9	%
Total commercial	55,161		55,221		56,075		56,821		57,236		(60)		(0.1)	%	(2,075)		(3.6)	%
Commercial investor real estate mortgage	6,610		6,558		6,574		6,333		6,459		52		0.8	%	151		2.3	%
Commercial investor real estate construction	2,229		2,275		2,198		2,284		2,023		(46)		(2.0)	%	206		10.2	%
Total investor real estate	8,839		8,833		8,772		8,617		8,482		6		0.1	%	357		4.2	%
Total business	64,000		64,054		64,847		65,438		65,718		(54)		(0.1)	%	(1,718)		(2.6)	%
Residential first mortgage	20,191		20,188		20,132		19,914		19,427		3		—	%	764		3.9	%
Home equity—lines of credit	3,145		3,182		3,231		3,270		3,354		(37)		(1.2)	%	(209)		(6.2)	%
Home equity—closed-end	2,412		2,423		2,432		2,418		2,431		(11)		(0.5)	%	(19)		(0.8)	%
Consumer credit card	1,331		1,315		1,295		1,245		1,217		16		1.2	%	114		9.4	%
Other consumer—exit portfolios (1)	22		35		110		384		450		(13)		(37.1)	%	(428)		(95.1)	%
Other consumer	6,180		6,223		6,246		6,116		5,984		(43)		(0.7)	%	196		3.3	%
Total consumer	33,281		33,366		33,446		33,347		32,863		(85)		(0.3)	%	418		1.3	%
Total Loans	$	97,281	$	97,420	$	98,293	$	98,785	$	98,581	$	(139)	(0.1)	%	$	(1,300)	(1.3)	%

	Average Balances
	Six Months Ended June 30
($ amounts in millions)	2024		2023		2024 vs. 2023
Commercial and industrial	$	50,068	$	51,601	$	(1,533)	(3.0)	%
Commercial real estate mortgage—owner-occupied	4,799		4,959		(160)		(3.2)	%
Commercial real estate construction—owner-occupied	324		292		32		11.0	%
Total commercial	55,191		56,852		(1,661)		(2.9)	%
Commercial investor real estate mortgage	6,584		6,452		132		2.0	%
Commercial investor real estate construction	2,252		1,991		261		13.1	%
Total investor real estate	8,836		8,443		393		4.7	%
Total business	64,027		65,295		(1,268)		(1.9)	%
Residential first mortgage	20,190		19,193		997		5.2	%
Home equity—lines of credit	3,163		3,407		(244)		(7.2)	%
Home equity—closed-end	2,418		2,446		(28)		(1.1)	%
Consumer credit card	1,323		1,216		107		8.8	%
Other consumer—exit portfolios (1)	29		488		(459)		(94.1)	%
Other consumer	6,201		5,888		313		5.3	%
Total consumer	33,324		32,638		686		2.1	%
Total Loans	$	97,351	$	97,933	$	(582)	(0.6)	%

_____

NM - Not meaningful.

(1)Subsequent to the GreenSky loan sale in the fourth quarter of 2023, the exit portfolio consists primarily of indirect auto loans.

.

5

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

End of Period Deposits

	As of
											6/30/2024			6/30/2024
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		vs. 3/31/2024			vs. 6/30/2023
Interest-free deposits	$	40,927	$	41,824	$	42,368	$	44,640	$	46,898	$	(897)	(2.1)%	$	(5,971)	(12.7)%
Interest-bearing checking	23,631		24,668		24,480		22,428		22,892		(1,037)		(4.2)%	739		3.2%
Savings	12,386		12,786		12,604		13,292		14,217		(400)		(3.1)%	(1,831)		(12.9)%
Money market—domestic	34,438		34,251		33,364		32,646		32,230		187		0.5%	2,208		6.9%
Time deposits	15,234		15,453		14,972		13,193		10,722		(219)		(1.4)%	4,512		42.1%
Total Deposits	$	126,616	$	128,982	$	127,788	$	126,199	$	126,959	$	(2,366)	(1.8)%	$	(343)	(0.3)%
	As of
											6/30/2024			6/30/2024
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		vs. 3/31/2024			vs. 6/30/2023
Consumer Bank Segment	$	80,126	$	81,129	$	80,031	$	80,980	$	81,554	$	(1,003)	(1.2)%	$	(1,428)	(1.8)%
Corporate Bank Segment	36,529		37,043		36,883		34,650		35,332		(514)		(1.4)%	1,197		3.4%
Wealth Management Segment	7,383		7,792		7,694		7,791		7,176		(409)		(5.2)%	207		2.9%
Other (1)(2)	2,578		3,018		3,180		2,778		2,897		(440)		(14.6)%	(319)		(11.0)%
Total Deposits	$	126,616	$	128,982	$	127,788	$	126,199	$	126,959	$	(2,366)	(1.8)%	$	(343)	(0.3)%
	As of
											6/30/2024			6/30/2024
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		vs. 3/31/2024			vs. 6/30/2023
Wealth Management - Private Wealth	$	6,430	$	6,664	$	6,719	$	6,706	$	6,552	$	(234)	(3.5)%	$	(122)	(1.9)%
Wealth Management - Institutional Services	953		1,128		975		1,085		624		(175)		(15.5)%	329		52.7%
Total Wealth Management Segment Deposits	$	7,383	$	7,792	$	7,694	$	7,791	$	7,176	$	(409)	(5.2)%	$	207	2.9%

	As of
End of Period Deposits by Percentage	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023
Interest-free deposits	32.3	%	32.4	%	33.2	%	35.4	%	36.9	%
Interest-bearing checking	18.7	%	19.1	%	19.2	%	17.8	%	18.0	%
Savings	9.8	%	9.9	%	9.9	%	10.5	%	11.2	%
Money market—domestic	27.2	%	26.6	%	26.1	%	25.9	%	25.4	%
Time deposits	12.0	%	12.0	%	11.6	%	10.4	%	8.5	%
Total Deposits	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and included additional wholesale funding arrangements in the second quarter of 2023.

(2)Includes brokered deposits totaling $1.8 billion at 6/30/2024, $2.3 billion at 3/31/2024, $2.4 billion at 12/31/2023, $1.9 billion at 9/30/2023 and $2.0 billion at 6/30/2023.

6

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Average Balances of Deposits

	Average Balances
($ amounts in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Interest-free deposits	$	40,516	$	40,926	$	43,167	$	44,748	$	47,178	$	(410)	(1.0)	%	$	(6,662)	(14.1)	%
Interest-bearing checking	24,026		24,682		23,128		22,499		22,979		(656)		(2.7)	%	1,047		4.6	%
Savings	12,536		12,594		12,858		13,715		14,701		(58)		(0.5)	%	(2,165)		(14.7)	%
Money market—domestic	34,368		33,646		33,216		32,146		31,567		722		2.1	%	2,801		8.9	%
Time deposits	15,455		15,278		14,045		12,112		9,114		177		1.2	%	6,341		69.6	%
Total Deposits	$	126,901	$	127,126	$	126,414	$	125,220	$	125,539	$	(225)	(0.2)	%	1,362		1.1	%

	Average Balances
($ amounts in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Consumer Bank Segment	$	79,809	$	79,150	$	79,384	$	80,036	$	80,999	$	659	0.8	%	$	(1,190)	(1.5)	%
Corporate Bank Segment	36,669		37,064		36,291		34,924		34,860		(395)		(1.1)	%	1,809		5.2	%
Wealth Management Segment	7,534		7,766		7,690		7,451		7,470		(232)		(3.0)	%	64		0.9	%
Other (1)	2,889		3,146		3,049		2,809		2,210		(257)		(8.2)	%	679		30.7	%
Total Deposits	$	126,901	$	127,126	$	126,414	$	125,220	$	125,539	$	(225)	(0.2)	%	$	1,362	1.1	%

	Average Balances
($ amounts in millions)	2Q24		1Q24		4Q23		3Q23		2Q23		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Wealth Management - Private Wealth	$	6,577	$	6,720	$	6,677	$	6,701	$	6,855	$	(143)	(2.1)	%	$	(278)	(4.1)	%
Wealth Management - Institutional Services	957		1,046		1,013		750		615		(89)		(8.5)	%	342		55.6	%
Total Wealth Management Segment Deposits	$	7,534	$	7,766	$	7,690	$	7,451	$	7,470	$	(232)	(3.0)	%	$	64	0.9	%

	Average Balances
	Six Months Ended June 30
($ amounts in millions)	2024		2023		2024 vs. 2023
Interest-free deposits	$	40,721	$	48,378	$	(7,657)	(15.8)	%
Interest-bearing checking	24,354		23,833		521		2.2	%
Savings	12,565		15,058		(2,493)		(16.6)	%
Money market—domestic	34,008		32,042		1,966		6.1	%
Time deposits	15,366		7,970		7,396		92.8	%
Total Deposits	$	127,014	$	127,281	$	(267)	(0.2)	%

	Average Balances
	Six Months Ended June 30
($ amounts in millions)	2024		2023		2024 vs. 2023
Consumer Bank Segment	$	79,479	$	81,596	$	(2,117)	(2.6)	%
Corporate Bank Segment	36,867		35,563		1,304		3.7	%
Wealth Management Segment	7,650		7,964		(314)		(3.9)	%
Other (1)	3,018		2,158		860		39.9	%
Total Deposits	$	127,014	$	127,281	$	(267)	(0.2)	%

	Average Balances
	Six Months Ended June 30
($ amounts in millions)	2024		2023		2024 vs. 2023
Wealth Management - Private Wealth	$	6,648	$	7,318	$	(670)	(9.2)	%
Wealth Management - Institutional Services	1,002		646		356		55.1	%
Total Wealth Management Segment Deposits	$	7,650	$	7,964	$	(314)	(3.9)	%

________

(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) and included additional wholesale funding arrangements in the second quarter of 2023.

7

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Consolidated Statements of Income

	Quarter Ended
($ amounts in millions, except per share data)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023
Interest income on:
Loans, including fees	$	1,432	$	1,421	$	1,457	$	1,462	$	1,454
Debt securities	219		209		192		185		185
Loans held for sale	9		8		9		14		10
Other earning assets	102		86		93		105		90
Total interest income	1,762		1,724		1,751		1,766		1,739
Interest expense on:
Deposits	502		495		449		367		260
Short-term borrowings	13		1		10		39		42
Long-term borrowings	61		44		61		69		56
Total interest expense	576		540		520		475		358
Net interest income	1,186		1,184		1,231		1,291		1,381
Provision for credit losses	102		152		155		145		118
Net interest income after provision for credit losses	1,084		1,032		1,076		1,146		1,263
Non-interest income:
Service charges on deposit accounts	151		148		143		142		152
Card and ATM fees	120		116		127		126		130
Wealth management income	122		119		117		112		110
Capital markets income	68		91		48		64		68
Mortgage income	34		41		31		28		26
Securities gains (losses), net	(50)		(50)		(2)		(1)		—
Other	100		98		116		95		90
Total non-interest income	545		563		580		566		576
Non-interest expense:
Salaries and employee benefits	609		658		608		589		603
Equipment and software expense	100		101		102		107		101
Net occupancy expense	68		74		71		72		73
Other	227		298		404		325		334
Total non-interest expense	1,004		1,131		1,185		1,093		1,111
Income before income taxes	625		464		471		619		728
Income tax expense	124		96		80		129		147
Net income	$	501	$	368	$	391	$	490	$	581
Net income available to common shareholders	$	477	$	343	$	367	$	465	$	556
Weighted-average shares outstanding—during quarter:
Basic	917		921		931		939		939
Diluted	918		923		931		940		939
Actual shares outstanding—end of quarter	915		918		924		939		939
Earnings per common share: (1)
Basic	$	0.52	$	0.37	$	0.39	$	0.49	$	0.59
Diluted	$	0.52	$	0.37	$	0.39	$	0.49	$	0.59
Taxable-equivalent net interest income	$	1,198	$	1,197	$	1,244	$	1,304	$	1,393

________

(1) Quarterly amounts may not add to year-to-date amounts due to rounding.

8

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Consolidated Statements of Income (continued) (unaudited)

	Six Months Ended June 30
($ amounts in millions, except per share data)	2024		2023
Interest income on:
Loans, including fees	$	2,853	$	2,814
Debt securities	428		372
Loans held for sale	17		17
Other earning assets	188		177
Total interest income	3,486		3,380
Interest expense on:
Deposits	997		439
Short-term borrowings	14		47
Long-term borrowings	105		96
Total interest expense	1,116		582
Net interest income	2,370		2,798
Provision for credit losses	254		253
Net interest income after provision for credit losses	2,116		2,545
Non-interest income:
Service charges on deposit accounts	299		307
Card and ATM fees	236		251
Wealth management income	241		222
Capital markets income	159		110
Mortgage income	75		50
Securities gains (losses), net	(100)		(2)
Other	198		172
Total non-interest income	1,108		1,110
Non-interest expense:
Salaries and employee benefits	1,267		1,219
Equipment and software expense	201		203
Net occupancy expense	142		146
Other	525		570
Total non-interest expense	2,135		2,138
Income before income taxes	1,089		1,517
Income tax expense	220		324
Net income	$	869	$	1,193
Net income available to common shareholders	$	820	$	1,144
Weighted-average shares outstanding—during year:
Basic	919		938
Diluted	920		941
Actual shares outstanding—end of period	915		939
Earnings per common share:
Basic	$	0.89	$	1.22
Diluted	$	0.89	$	1.22
Taxable-equivalent net interest income	$	2,395	$	2,823

9

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Consolidated Average Daily Balances and Yield/Rate Analysis

	Quarter Ended
	6/30/2024						3/31/2024
($ amounts in millions; yields on taxable-equivalent basis)	Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell	$	1	$	—	5.44	%	$	1	$	—	5.44	%
Debt securities (2)(3)	31,649		219		2.77		31,494		209		2.66
Loans held for sale	531		9		6.85		499		8		6.40
Loans, net of unearned income:
Commercial and industrial (4)	50,046		756		6.04		50,090		750		5.99
Commercial real estate mortgage—owner-occupied (5)	4,765		56		4.59		4,833		56		4.58
Commercial real estate construction—owner-occupied	350		6		6.52		298		4		5.79
Commercial investor real estate mortgage	6,610		119		7.11		6,558		117		7.05
Commercial investor real estate construction	2,229		45		7.96		2,275		46		7.97
Residential first mortgage	20,191		191		3.79		20,188		191		3.79
Home equity	5,557		95		6.87		5,605		95		6.77
Consumer credit card	1,331		48		14.62		1,315		50		15.21
Other consumer—exit portfolios	22		—		1.58		35		—		1.67
Other consumer	6,180		128		8.33		6,223		125		8.08
Total loans, net of unearned income	97,281		1,444		5.93		97,420		1,434		5.88
Interest-bearing deposits in other banks	6,158		86		5.65		4,754		68		5.69
Other earning assets	1,447		16		4.43		1,339		18		5.49
Total earning assets	137,067		1,774		5.17		135,507		1,737		5.12
Unrealized gains/(losses) on debt securities available for sale, net (2)	(3,267)						(3,042)
Allowance for loan losses	(1,619)						(1,596)
Cash and due from banks	2,678						2,581
Other non-earning assets	18,008						17,994
	$	152,867					$	151,444
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings	$	12,536	4		0.13		$	12,594	4		0.13
Interest-bearing checking	24,026		99		1.68		24,682		106		1.72
Money market	34,368		239		2.79		33,646		227		2.72
Time deposits	15,455		160		4.16		15,278		158		4.16
Total interest-bearing deposits (6)	86,385		502		2.34		86,200		495		2.31
Federal funds purchased and securities sold under agreements to repurchase	8		—		5.45		8		—		5.40
Short-term borrowings	962		13		5.49		77		1		5.56
Long-term borrowings	3,595		61		6.73		2,405		44		7.26
Total interest-bearing liabilities	90,950		576		2.55		88,690		540		2.45
Non-interest-bearing deposits (6)	40,516		—		—		40,926		—		—
Total funding sources	131,466		576		1.76		129,616		540		1.67
Net interest spread (2)					2.62						2.68
Other liabilities	4,655						4,663
Shareholders’ equity	16,713						17,121
Noncontrolling interest	33						44
	$	152,867					$	151,444
Net interest income/margin FTE basis (2)			$	1,198	3.51	%			$	1,197	3.55	%

_______

(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) Interest income includes hedging income of $2 million for both quarters ended June 30, 2024 and March 31, 2024.

(4) Interest income includes hedging expense of $103 million for the quarter ended June 30, 2024 and $104 million for the quarter ended March 31, 2024.

(5) Interest income includes hedging expense of $13 million for both quarters ended June 30, 2024 and March 31, 2024.

(6) 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 1.59% for the quarter ended June 30, 2024 and 1.56% for the quarter ended March 31, 2024.

10

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Consolidated Average Daily Balances and Yield/Rate Analysis (continued)

	Quarter Ended
	12/31/2023						9/30/2023						6/30/2023
($ amounts in millions; yields on taxable-equivalent basis)	Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)		Average Balance		Income/ Expense		Yield/ Rate (1)
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell	$	1	$	—	5.44	%	$	1	$	—	5.32	%	$	1	$	—	5.02	%
Debt securities (2)(3)	31,144		192		2.47		31,106		185		2.38		31,588		185		2.35
Loans held for sale	459		9		8.15		910		14		5.99		539		10		7.11
Loans, net of unearned income:
Commercial and industrial (4)	50,939		784		6.08		51,721		804		6.14		52,039		820		6.29
Commercial real estate mortgage—owner-occupied (5)	4,864		58		4.68		4,824		58		4.72		4,905		64		5.13
Commercial real estate construction—owner-occupied	272		4		5.77		276		4		5.74		292		4		5.73
Commercial investor real estate mortgage	6,574		119		7.09		6,333		113		6.95		6,459		110		6.74
Commercial investor real estate construction	2,198		45		7.97		2,284		46		7.84		2,023		38		7.55
Residential first mortgage	20,132		187		3.72		19,914		179		3.59		19,427		169		3.48
Home equity	5,663		96		6.82		5,688		94		6.63		5,785		90		6.22
Consumer credit card	1,295		50		15.29		1,245		48		15.57		1,217		46		15.10
Other consumer—exit portfolios	110		1		1.09		384		6		6.35		450		7		6.31
Other consumer	6,246		126		7.95		6,116		123		7.93		5,984		118		7.91
Total loans, net of unearned income	98,293		1,470		5.92		98,785		1,475		5.91		98,581		1,466		5.94
Interest-bearing deposits in other banks	5,753		80		5.56		6,374		90		5.56		6,111		79		5.21
Other earning assets	1,336		13		3.66		1,465		15		4.09		1,411		11		3.05
Total earning assets	136,986		1,764		5.10		138,641		1,779		5.08		138,231		1,751		5.06
Unrealized gains/(losses) on debt securities available for sale, net (2)	(3,788)						(3,626)						(3,064)
Allowance for loan losses	(1,540)						(1,526)						(1,497)
Cash and due from banks	2,242						2,165						2,320
Other non-earning assets	17,838						17,830						17,784
	$	151,738					$	153,484					$	153,774
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings	$	12,858	3		0.11		$	13,715	4		0.12		$	14,701	5		0.12
Interest-bearing checking	23,128		91		1.56		22,499		74		1.31		22,979		63		1.09
Money market	33,216		215		2.57		32,146		179		2.20		31,567		130		1.66
Time deposits	14,045		140		3.95		12,112		110		3.59		9,114		62		2.74
Total interest-bearing deposits (6)	83,247		449		2.14		80,472		367		1.81		78,361		260		1.33
Federal funds purchased and securities sold under agreements to repurchase	27		1		5.51		8		—		5.46		17		—		5.23
Short-term borrowings	652		9		5.58		2,794		39		5.48		3,242		42		5.06
Long-term borrowings	3,627		61		6.57		4,295		69		6.31		3,517		56		6.42
Total interest-bearing liabilities	87,553		520		2.36		87,569		475		2.15		85,137		358		1.69
Non-interest-bearing deposits (6)	43,167		—		—		44,748		—		—		47,178		—		—
Total funding sources	130,720		520		1.58		132,317		475		1.42		132,315		358		1.08
Net interest spread (2)					2.75						2.93						3.37
Other liabilities	4,717						4,677						4,548
Shareholders’ equity	16,274						16,468						16,892
Noncontrolling interest	27						22						19
	$	151,738					$	153,484					$	153,774
Net interest income/margin FTE basis (2)			$	1,244	3.60	%			$	1,304	3.73	%			$	1,393	4.04	%

_______

(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)    Interest income includes hedge expense of $1 million for the quarter ended December 31, 2023.

(4) Interest income includes hedging expense of $95 million for the quarter ended December 31, 2023, $73 million for the quarter ended September 30, 2023, and $29 million for the quarter ended June 30, 2023.

(5) Interest income includes hedging expense of $12 million for the quarter ended December 31, 2023, $9 million for the quarter ended September 30, 2023, and $3 million for the quarter ended June 30, 2023.

(6) 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 1.41% for the quarter ended December 31, 2023, 1.16% for the quarter ended September 30, 2023 and 0.83% for the quarter ended June 30, 2023.

11

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 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.

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Net income available to common shareholders (GAAP)	$	477	$	343	$	367	$	465	$	556	$	134	39.1	%	$	(79)	(14.2)	%
Preferred dividends (GAAP)	24		25		24		25		25		(1)		(4.0)	%	(1)		(4.0)	%
Income tax expense (GAAP)	124		96		80		129		147		28		29.2	%	(23)		(15.6)	%
Income before income taxes (GAAP)	625		464		471		619		728		161		34.7	%	(103)		(14.1)	%
Provision for credit losses (GAAP)	102		152		155		145		118		(50)		(32.9)	%	(16)		(13.6)	%
Pre-tax pre-provision income (non-GAAP)	727		616		626		764		846		111		18.0	%	(119)		(14.1)	%
Other adjustments:
Securities (gains) losses, net	50		50		2		1		—		—		—	%	50		NM
Leveraged lease termination gains, net	—		—		(1)		—		—		—		NM		—		NM
FDIC insurance special assessment	4		18		119		—		—		(14)		(77.8)	%	4		NM
Salaries and employee benefits—severance charges	4		13		28		3		—		(9)		(69.2)	%	4		NM
Branch consolidation, property and equipment charges	1		1		3		1		1		—		—	%	—		—	%
Early extinguishment of debt	—		—		(4)		—		—		—		NM		—		NM
Other miscellaneous expenses (1)	(37)		—		—		—		—		(37)		NM		(37)		NM
Professional, legal and regulatory expenses	—		2		1		—		—		(2)		(100.0)	%	—		NM
Total other adjustments	22		84		148		5		1		(62)		(73.8)	%	21		NM
Adjusted pre-tax pre-provision income (non-GAAP)	$	749	$	700	$	774	$	769	$	847	$	49	7.0	%	$	(98)	(11.6)	%

______

NM - Not meaningful

(1) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.

12

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Non-Interest Income

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Service charges on deposit accounts	$	151	$	148	$	143	$	142	$	152	$	3	2.0	%	$	(1)	(0.7)	%
Card and ATM fees	120		116		127		126		130		4		3.4	%	(10)		(7.7)	%
Wealth management income	122		119		117		112		110		3		2.5	%	12		10.9	%
Capital markets income (1)	68		91		48		64		68		(23)		(25.3)	%	—		—	%
Mortgage income	34		41		31		28		26		(7)		(17.1)	%	8		30.8	%
Commercial credit fee income	28		27		27		24		28		1		3.7	%	—		—	%
Bank-owned life insurance	30		23		22		20		19		7		30.4	%	11		57.9	%
Market value adjustments on employee benefit assets (2)	2		15		12		4		—		(13)		(86.7)	%	2		NM
Securities gains (losses), net	(50)		(50)		(2)		(1)		—		—		—	%	(50)		NM
Other miscellaneous income	40		33		55		47		43		7		21.2	%	(3)		(7.0)	%
Total non-interest income	$	545	$	563	$	580	$	566	$	576	$	(18)	(3.2)	%	$	(31)	(5.4)	%

Mortgage Income

	Quarter Ended
($ amounts in millions)	6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023			2Q24 vs. 1Q24				2Q24 vs. 2Q23
Production and sales	$	16		$	24		$	9		$	10		$	18		$	(8)	(33.3)	%	$	(2)	(11.1)	%
Loan servicing	46			44			46			42			39			2		4.5	%	7		17.9	%
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions	13			19			(24)			45			8			(6)		(31.6)	%	5		62.5	%
MSRs hedge gain (loss)	(10)			(17)			29			(41)			(12)			7		41.2	%	2		16.7	%
MSRs change due to payment decay	(31)			(29)			(29)			(28)			(27)			(2)		(6.9)	%	(4)		(14.8)	%
MSR and related hedge impact	(28)			(27)			(24)			(24)			(31)			(1)		(3.7)	%	3		9.7	%
Total mortgage income	$	34		$	41		$	31		$	28		$	26		$	(7)	(17.1)	%	$	8	30.8	%
Mortgage production - portfolio	$	528		$	354		$	475		$	762		$	970		$	174	49.2	%	$	(442)	(45.6)	%
Mortgage production - agency/secondary market	514			399			349			408			450			115		28.8	%	64		14.2	%
Total mortgage production	$	1,042		$	753		$	824		$	1,170		$	1,420		$	289	38.4	%	$	(378)	(26.6)	%
Mortgage production - purchased	90.7		%	90.0		%	90.8		%	90.7		%	91.3		%
Mortgage production - refinanced	9.3		%	10.0		%	9.2		%	9.3		%	8.7		%

Wealth Management Income

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Investment management and trust fee income	$	83	$	81	$	81	$	79	$	77	$	2	2.5	%	$	6	7.8	%
Investment services fee income	39		38		36		33		33		1		2.6	%	6		18.2	%
Total wealth management income (3)	$	122	$	119	$	117	$	112	$	110	$	3	2.5	%	$	12	10.9	%

Capital Markets Income

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Capital markets income	$	68	$	91	$	48	$	64	$	68	$	(23)	(25.3)	%	$	—	—	%
Less: Valuation adjustments on customer derivatives (4)	(2)		(2)		(5)		(3)		(9)		—		—	%	7		77.8	%
Capital markets income excluding valuation adjustments	$	70	$	93	$	53	$	67	$	77	$	(23)	(24.7)	%	$	(7)	(9.1)	%

_________

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)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.

(3)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.

(4)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.

13

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Non-Interest Income

($ amounts in millions)	Six Months Ended				Year-to-Date Change 6/30/2024 vs. 6/30/2023
	6/30/2024		6/30/2023		Amount		Percent
Service charges on deposit accounts	$	299	$	307	$	(8)	(2.6)	%
Card and ATM fees	236		251		(15)		(6.0)	%
Wealth management income	241		222		19		8.6	%
Capital markets income (1)	159		110		49		44.5	%
Mortgage income	75		50		25		50.0	%
Commercial credit fee income	55		54		1		1.9	%
Bank-owned life insurance	53		36		17		47.2	%
Market value adjustments on employee benefit assets (2)	17		(1)		18		NM
Securities gains (losses), net	(100)		(2)		(98)		NM
Other miscellaneous income	73		83		(10)		(12.0)	%
Total non-interest income	$	1,108	$	1,110	$	(2)	(0.2)	%

Mortgage Income

	Six Months Ended						Year-to-Date Change 6/30/2024 vs. 6/30/2023
($ amounts in millions)	6/30/2024			6/30/2023			Amount		Percent
Production and sales	$	40		$	31		$	9	29.0	%
Loan servicing	90			77			13		16.9	%
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions	32			(4)			36		NM
MSRs hedge gain (loss)	(27)			(3)			(24)		NM
MSRs change due to payment decay	(60)			(51)			(9)		(17.6)	%
MSR and related hedge impact	(55)			(58)			3		5.2	%
Total mortgage income	$	75		$	50		$	25	50.0	%
Mortgage production - portfolio	$	882		$	1,550		$	(668)	(43.1)	%
Mortgage production - agency/secondary market	913			752			161		21.4	%
Total mortgage production	$	1,795		$	2,302		$	(507)	(22.0)	%
Mortgage production - purchased	90.4		%	90.1		%
Mortgage production - refinanced	9.6		%	9.9		%

Wealth Management Income

	Six Months Ended				Year-to-Date Change 6/30/2024 vs. 6/30/2023
($ amounts in millions)	6/30/2024		6/30/2023		Amount		Percent
Investment management and trust fee income	$	164	$	153	$	11	7.2	%
Investment services fee income	77		69		8		11.6	%
Total wealth management income (3)	$	241	$	222	$	19	8.6	%

Capital Markets Income

	Six Months Ended				Year-to-Date Change 6/30/2024 vs. 6/30/2023
($ amounts in millions)	6/30/2024		6/30/2023		Amount		Percent
Capital markets income	$	159	$	110	$	49	44.5	%
Less: Valuation adjustments on customer derivatives (4)	(4)		(42)		38		90.5	%
Capital markets income excluding valuation adjustments	$	163	$	152	$	11	7.2	%

_________

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)These market value adjustments relate to assets held for employee and director benefits that are offset within salaries and employee benefits expense and other non-interest expense.

(3)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.

(4)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.

14

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Non-Interest Expense

	Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023		2Q24 vs. 1Q24				2Q24 vs. 2Q23
Salaries and employee benefits	$	609	$	658	$	608	$	589	$	603	$	(49)	(7.4)	%	$	6	1.0	%
Equipment and software expense	100		101		102		107		101		(1)		(1.0)	%	(1)		(1.0)	%
Net occupancy expense	68		74		71		72		73		(6)		(8.1)	%	(5)		(6.8)	%
Outside services	40		39		43		39		42		1		2.6	%	(2)		(4.8)	%
Marketing	27		27		31		26		26		—		—	%	1		3.8	%
Professional, legal and regulatory expenses	25		28		19		27		20		(3)		(10.7)	%	5		25.0	%
Credit/checkcard expenses	15		14		15		16		15		1		7.1	%	—		—	%
FDIC insurance assessments (1)	29		43		147		27		29		(14)		(32.6)	%	—		—	%
Visa class B shares expense	5		4		6		5		9		1		25.0	%	(4)		(44.4)	%
Early extinguishment of debt	—		—		(4)		—		—		—		NM		—		NM
Operational losses (2)	18		42		29		75		95		(24)		(57.1)	%	(77)		(81.1)	%
Branch consolidation, property and equipment charges	1		1		3		1		1		—		—	%	—		—	%
Other miscellaneous expenses	67		100		115		109		97		(33)		(33.0)	%	(30)		(30.9)	%
Total non-interest expense	$	1,004	$	1,131	$	1,185	$	1,093	$	1,111	$	(127)	(11.2)	%	$	(107)	(9.6)	%

	Six Months Ended				Year-to-Date Change 6/30/2024 vs. 6/30/2023
($ amounts in millions)	6/30/2024		6/30/2023		Amount		Percent
Salaries and employee benefits	$	1,267	$	1,219	$	48	3.9	%
Equipment and software expense	201		203		(2)		(1.0)	%
Net occupancy expense	142		146		(4)		(2.7)	%
Outside services	79		81		(2)		(2.5)	%
Marketing	54		53		1		1.9	%
Professional, legal and regulatory expenses	53		39		14		35.9	%
Credit/checkcard expenses	29		29		—		—	%
FDIC insurance assessments (1)	72		54		18		33.3	%
Visa class B shares expense	9		17		(8)		(47.1)	%
Operational losses	60		108		(48)		(44.4)	%
Branch consolidation, property and equipment charges	2		3		(1)		(33.3)	%
Other miscellaneous expenses	167		186		(19)		(10.2)	%
Total non-interest expense	$	2,135	$	2,138	$	(3)	(0.1)	%

_________

NM - Not Meaningful

(1) Includes an FDIC special assessment accrual of $4 million in the second quarter of 2024, $18 million in the first quarter of 2024 and $119 million in the fourth quarter of 2023.

(2) The incremental increase in operational losses primarily due to check-related warranty claims totaled $22 million in the first quarter of 2024. The incremental increase in operational losses primarily due to check-related warranty claims totaled $53 million in the third quarter of 2023. The incremental increase in operational losses primarily due to counterfeit checks totaled $82 million in the second quarter of 2023.

15

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue

The tables below present 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. Also presented is a computation of the adjusted 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).

		Quarter Ended
($ amounts in millions)		6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023			2Q24 vs. 1Q24				2Q24 vs. 2Q23
Non-interest expense (GAAP)	A	$	1,004		$	1,131		$	1,185		$	1,093		$	1,111		$	(127)	(11.2)	%	$	(107)	(9.6)	%
Adjustments:
FDIC insurance special assessment		(4)			(18)			(119)			—			—			14		77.8	%	(4)		NM
Branch consolidation, property and equipment charges		(1)			(1)			(3)			(1)			(1)			—		—	%	—		—	%
Salaries and employee benefits—severance charges		(4)			(13)			(28)			(3)			—			9		69.2	%	(4)		NM
Early extinguishment of debt		—			—			4			—			—			—		NM		—		NM
Professional, legal and regulatory expenses		—			(2)			(1)			—			—			2		100.0	%	—		NM
Other miscellaneous expenses (1)		37			—			—			—			—			37		NM		37		NM
Adjusted non-interest expense (non-GAAP)	B	$	1,032		$	1,097		$	1,038		$	1,089		$	1,110		$	(65)	(5.9)	%	$	(78)	(7.0)	%
Net interest income (GAAP)	C	$	1,186		$	1,184		$	1,231		$	1,291		$	1,381		$	2	0.2	%	$	(195)	(14.1)	%
Taxable-equivalent adjustment		12			13			13			13			12			(1)		(7.7)	%	—		—	%
Net interest income, taxable-equivalent basis	D	$	1,198		$	1,197		$	1,244		$	1,304		$	1,393		$	1	0.1	%	$	(195)	(14.0)	%
Non-interest income (GAAP)	E	$	545		$	563		$	580		$	566		$	576		$	(18)	(3.2)	%	$	(31)	(5.4)	%
Adjustments:
Securities (gains) losses, net		50			50			2			1			—			—		—	%	50		NM
Leveraged lease termination gains		—			—			(1)			—			—			—		NM		—		NM
Adjusted non-interest income (non-GAAP)	F	$	595		$	613		$	581		$	567		$	576		$	(18)	(2.9)	%	$	19	3.3	%
Total revenue	C+E=G	$	1,731		$	1,747		$	1,811		$	1,857		$	1,957		$	(16)	(0.9)	%	$	(226)	(11.5)	%
Adjusted total revenue (non-GAAP)	C+F=H	$	1,781		$	1,797		$	1,812		$	1,858		$	1,957		$	(16)	(0.9)	%	$	(176)	(9.0)	%
Total revenue, taxable-equivalent basis	D+E=I	$	1,743		$	1,760		$	1,824		$	1,870		$	1,969		$	(17)	(1.0)	%	$	(226)	(11.5)	%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)	D+F=J	$	1,793		$	1,810		$	1,825		$	1,871		$	1,969		$	(17)	(0.9)	%	$	(176)	(8.9)	%
Efficiency ratio (GAAP) (2)	A/I	57.6		%	64.3		%	65.0		%	58.5		%	56.4		%
Adjusted efficiency ratio (non-GAAP) (2)	B/J	57.6		%	60.6		%	56.9		%	58.2		%	56.4		%
Fee income ratio (GAAP) (2)	E/I	31.3		%	32.0		%	31.8		%	30.3		%	29.3		%
Adjusted fee income ratio (non-GAAP) (2)	F/J	33.2		%	33.9		%	31.8		%	30.3		%	29.3		%

________

NM - Not Meaningful

(1) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.

(2) Amounts have been calculated using whole dollar values.

16

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, Adjusted Operating Leverage Ratios, and Adjusted Total Revenue (continued)

		Six Months Ended June 30
($ amounts in millions)		2024			2023			2024 vs. 2023
Non-interest expense (GAAP)	A	$	2,135		$	2,138		$	(3)	(0.1)	%
Adjustments:
FDIC insurance special assessment		(22)			—			(22)		NM
Branch consolidation, property and equipment charges		(2)			(3)			1		33.3	%
Salaries and employee benefits—severance charges		(17)			—			(17)		NM
Professional, legal and regulatory expenses		(2)			—			(2)		NM
Other miscellaneous expenses (1)		$	37		$	—		37		NM
Adjusted non-interest expense (non-GAAP)	B	$	2,129		$	2,135		$	(6)	(0.3)	%
Net interest income (GAAP)	C	$	2,370		$	2,798		$	(428)	(15.3)	%
Taxable-equivalent adjustment		25			25			—		—	%
Net interest income, taxable-equivalent basis	D	$	2,395		$	2,823		$	(428)	(15.2)	%
Non-interest income (GAAP)	E	$	1,108		$	1,110		$	(2)	(0.2)	%
Adjustments:
Securities (gains) losses, net		100			2			98		NM
Leveraged lease termination gains		—			(1)			1		100.0	%
Adjusted non-interest income (non-GAAP)	F	$	1,208		$	1,111		$	97	8.7	%
Total revenue	C+E= G	$	3,478		$	3,908		$	(430)	(11.0)	%
Adjusted total revenue (non-GAAP)	C+F=H	$	3,578		$	3,909		$	(331)	(8.5)	%
Total revenue, taxable-equivalent basis	D+E=I	$	3,503		$	3,933		$	(430)	(10.9)	%
Adjusted total revenue, taxable-equivalent basis (non-GAAP)	D+F=J	$	3,603		$	3,934		$	(331)	(8.4)	%
Operating leverage ratio (GAAP) (2)	I-A									(10.8)	%
Adjusted operating leverage ratio (non-GAAP) (2)	J-B									(8.2)	%
Efficiency ratio (GAAP) (2)	A/I	60.9		%	54.4		%
Adjusted efficiency ratio (non-GAAP) (2)	B/J	59.1		%	54.3		%
Fee income ratio (GAAP) (2)	E/I	31.6		%	28.2		%
Adjusted fee income ratio (non-GAAP) (2)	F/J	33.5		%	28.2		%

______

NM - Not Meaningful

(1) In the second quarter of 2024, the Company had a contingent reserve release related to a previous acquisition.

(2)Amounts have been calculated using whole dollar values.

17

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Reconciliation of GAAP Financial Measures to non-GAAP Financial Measures

Return Ratios

The table below provides a calculation of “return on average tangible common shareholders’ equity” (non-GAAP). 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. In calculating return on average tangible common shareholders' equity Regions makes adjustments to shareholders' equity including average intangible assets and related deferred taxes, average preferred stock and average accumulated other comprehensive income (AOCI). 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)		6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY*
Net income available to common shareholders (GAAP)	A	$	477		$	343		$	367		$	465		$	556
Average shareholders' equity (GAAP)		$	16,713		$	17,121		$	16,274		$	16,468		$	16,892
Less:
Average intangible assets (GAAP)		5,925			5,934			5,944			5,955			5,966
Average deferred tax liability related to intangibles (GAAP)		(115)			(113)			(109)			(106)			(104)
Average preferred stock (GAAP)		1,659			1,659			1,659			1,659			1,659
Average tangible common shareholders' equity (non-GAAP)	B	$	9,244		$	9,641		$	8,780		$	8,960		$	9,371
Less: Average AOCI, after tax		(3,525)			(3,113)			(3,925)			(3,684)			(2,936)
Average tangible common shareholders' equity excluding AOCI (non-GAAP)	C	$	12,769		$	12,754		$	12,705		$	12,644		$	12,307
Return on average tangible common shareholders' equity (non-GAAP) (1)	A/B	20.75		%	14.31		%	16.57		%	20.58		%	23.82		%
Return on average tangible common shareholders' equity excluding AOCI (non-GAAP) (1)	A/C	15.02		%	10.81		%	11.45		%	14.58		%	18.14		%

____

*Annualized

(1)Amounts have been calculated using whole dollar values.

Tangible Common Ratios

The following table provides a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP) and the calculations of the end of period “tangible common shareholders’ equity to tangible assets” and "tangible common book value per share" ratios (non-GAAP). 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.

		As of and for Quarter Ended
($ amounts in millions, except per share data)		6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
TANGIBLE COMMON RATIOS
Shareholders’ equity (GAAP)	A	$	17,169		$	17,044		$	17,429		$	16,100		$	16,639
Less:
Preferred stock (GAAP)		1,659			1,659			1,659			1,659			1,659
Intangible assets (GAAP)		5,920			5,929			5,938			5,949			5,959
Deferred tax liability related to intangibles (GAAP)		(119)			(114)			(112)			(108)			(106)
Tangible common shareholders’ equity (non-GAAP)	B	$	9,709		$	9,570		$	9,944		$	8,600		$	9,127
Total assets (GAAP)	C	$	154,052		$	154,909		$	152,194		$	153,624		$	155,656
Less:
Intangible assets (GAAP)		5,920			5,929			5,938			5,949			5,959
Deferred tax liability related to intangibles (GAAP)		(119)			(114)			(112)			(108)			(106)
Tangible assets (non-GAAP)	D	$	148,251		$	149,094		$	146,368		$	147,783		$	149,803
Shares outstanding—end of quarter	E	915			918			924			939			939
Total equity to total assets (GAAP) (1)	A/C	11.14		%	11.00		%	11.45		%	10.48		%	10.69		%
Tangible common shareholders’ equity to tangible assets (non-GAAP) (1)	B/D	6.55		%	6.42		%	6.79		%	5.82		%	6.09		%
Tangible common book value per share (non-GAAP) (1)	B/E	$	10.61		$	10.42		$	10.77		$	9.16		$	9.72

____

(1)Amounts have been calculated using whole dollar values.

18

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Credit Quality

	As of and for Quarter Ended
($ amounts in millions)	6/30/2024		3/31/2024		12/31/2023		9/30/2023		6/30/2023
Components:
Beginning allowance for loan losses (ALL)	$	1,617	$	1,576	$	1,547	$	1,513	$	1,472
Loans charged-off:
Commercial and industrial	60		62		41		53		52
Commercial real estate mortgage—owner-occupied	1		—		1		1		—
Commercial real estate construction—owner-occupied	—		—		—		—		—
Total commercial	61		62		42		54		52
Commercial investor real estate mortgage	—		5		—		—		—
Total investor real estate	—		5		—		—		—
Residential first mortgage	—		1		—		—		1
Home equity—lines of credit	1		1		—		1		1
Home equity—closed-end	—		—		—		1		—
Consumer credit card	15		16		14		14		12
Other consumer—exit portfolios (1)	—		1		39		3		3
Other consumer	46		55		54		51		43
Total consumer	62		74		107		70		60
Total	123		141		149		124		112
Recoveries of loans previously charged-off:
Commercial and industrial	8		8		7		12		21
Commercial real estate mortgage—owner-occupied	1		—		1		1		—
Commercial real estate construction—owner-occupied	1		—		—		—		—
Total commercial	10		8		8		13		21
Commercial investor real estate mortgage	1		1		—		—		—
Total investor real estate	1		1		—		—		—
Residential first mortgage	1		1		—		—		1
Home equity—lines of credit	2		2		1		1		2
Home equity—closed-end	—		—		—		1		—
Consumer credit card	1		2		2		3		1
Other consumer—exit portfolios	—		1		1		—		1
Other consumer	7		5		5		5		5
Total consumer	11		11		9		10		10
Total	22		20		17		23		31
Net charge-offs (recoveries):
Commercial and industrial	52		54		34		41		31
Commercial real estate mortgage—owner-occupied	—		—		—		—		—
Commercial real estate construction—owner-occupied	(1)		—		—		—		—
Total commercial	51		54		34		41		31
Commercial investor real estate mortgage	(1)		4		—		—		—
Total investor real estate	(1)		4		—		—		—
Residential first mortgage	(1)		—		—		—		—
Home equity—lines of credit	(1)		(1)		(1)		—		(1)
Home equity—closed-end	—		—		—		—		—
Consumer credit card	14		14		12		11		11
Other consumer—exit portfolios	—		—		38		3		2
Other consumer	39		50		49		46		38
Total consumer	51		63		98		60		50
Total	101		121		132		101		81
Provision for loan losses (1)	105		162		161		135		122
Ending allowance for loan losses (ALL)	1,621		1,617		1,576		1,547		1,513
Beginning reserve for unfunded credit commitments	114		124		130		120		124
Provision for (benefit from) unfunded credit losses	(3)		(10)		(6)		10		(4)
Ending reserve for unfunded commitments	111		114		124		130		120
Allowance for credit losses (ACL) at period end	$	1,732	$	1,731	$	1,700	$	1,677	$	1,633

19

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Credit Quality (continued)
	As of and for Quarter Ended
($ amounts in millions)	6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
Net loan charge-offs as a % of average loans, annualized (2):
Commercial and industrial	0.42		%	0.43		%	0.26		%	0.31		%	0.24		%
Commercial real estate mortgage—owner-occupied	(0.03)		%	0.02		%	(0.02)		%	0.04		%	0.01		%
Commercial real estate construction—owner-occupied	(0.65)		%	(0.01)		%	(0.01)		%	(0.01)		%	(0.27)		%
Total commercial	0.37		%	0.40		%	0.24		%	0.29		%	0.22		%
Commercial investor real estate mortgage	(0.01)		%	0.21		%	(0.01)		%	(0.01)		%	—		%
Commercial investor real estate construction	—		%	—		%	—		%	—		%	(0.04)		%
Total investor real estate	—		%	0.15		%	(0.01)		%	—		%	(0.01)		%
Residential first mortgage	(0.01)		%	(0.01)		%	—		%	—		%	—		%
Home equity—lines of credit	(0.13)		%	(0.10)		%	(0.05)		%	(0.07)		%	(0.08)		%
Home equity—closed-end	(0.02)		%	(0.02)		%	(0.02)		%	(0.02)		%	—		%
Consumer credit card	4.00		%	4.39		%	3.98		%	3.48		%	3.38		%
Other consumer—exit portfolios (1)	(5.01)		%	(4.03)		%	135.63		%	3.14		%	2.56		%
Other consumer	2.57		%	3.24		%	3.13		%	2.99		%	2.55		%
Total consumer	0.61		%	0.76		%	1.18		%	0.71		%	0.62		%
Total	0.42		%	0.50		%	0.54		%	0.40		%	0.33		%
Non-performing loans, excluding loans held for sale	$	847		$	906		$	805		$	642		$	492
Non-performing loans held for sale	—			3			3			2			1
Non-performing loans, including loans held for sale	847			909			808			644			493
Foreclosed properties	15			13			15			15			15
Non-performing assets (NPAs)	$	862		$	922		$	823		$	659		$	508
Loans past due > 90 days (3)	$	167		$	147		$	171		$	140		$	131
Criticized loans—business (4)	$	4,863		$	4,978		$	4,659		$	4,167		$	4,039
Credit Ratios (2):
ACL/Loans, net	1.78		%	1.79		%	1.73		%	1.70		%	1.65		%
ALL/Loans, net	1.66		%	1.67		%	1.60		%	1.56		%	1.53		%
Allowance for credit losses to non-performing loans, excluding loans held for sale	204		%	191		%	211		%	261		%	332		%
Allowance for loan losses to non-performing loans, excluding loans held for sale	191		%	179		%	196		%	241		%	308		%
Non-performing loans, excluding loans held for sale/Loans, net	0.87		%	0.94		%	0.82		%	0.65		%	0.50		%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale	0.88		%	0.95		%	0.84		%	0.67		%	0.51		%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, and non-performing loans held for sale (3)	1.06		%	1.10		%	1.01		%	0.81		%	0.64		%

(1)In the fourth quarter of 2023, the Company sold substantially all of its portfolio of a third party relationship with an associated allowance of $27 million at the time of the sale. As shown in the table below, there was a $35 million fair value mark recorded through charge-offs, which resulted in a net provision expense of $8 million associated with the sale.

(2)Amounts have been calculated using whole dollar values.

(3)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 21 for amounts related to these loans.

(4)Business represents the combined total of commercial and investor real estate loans.

Adjusted Net Charge-offs and Ratio (non-GAAP)

In the fourth quarter of 2023, the Company made the decision to sell substantially all of a loan portfolio associated with a third party relationship. The loans were marked to fair value through charge-offs as shown below. Management believes that excluding the incremental increase to net charge-offs from the net charge-off ratio (GAAP) to arrive at an adjusted net charge-off ratio (non-GAAP) will assist investors in analyzing the Company's credit quality performance as well as provide a better basis from which to predict future performance.

	For the Quarter Ended
($ amounts in millions)	6/30/2024			3/31/2024			12/31/2023			9/30/2023			6/30/2023
Net loan charge-offs (GAAP)	$	101		$	121		$	132		$	101		$	81
Less: charge-offs associated with the sale of loans	—			—			35			—			—
Adjusted net loan charge-offs (non-GAAP)	$	101		$	121		$	97		$	101		$	81
Net loan charge-offs as a % of average loans, annualized (GAAP) (1)	0.42		%	0.50		%	0.54		%	0.40		%	0.33		%
Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) (1)	0.42		%	0.50		%	0.39		%	0.40		%	0.33		%

______

(1)     Amounts have been calculated using whole dollar values.

20

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Non-Performing Loans (excludes loans held for sale)

	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2024				3/31/2024				12/31/2023				9/30/2023				6/30/2023
Commercial and industrial	$	423	0.84	%	$	556	1.12	%	$	471	0.93	%	$	361	0.70	%	$	297	0.57	%
Commercial real estate mortgage—owner-occupied	43		0.90	%	40		0.83	%	36		0.74	%	43		0.90	%	34		0.72	%
Commercial real estate construction—owner-occupied	9		2.34	%	10		3.42	%	8		3.12	%	10		3.50	%	5		1.60	%
Total commercial	475		0.86	%	606		1.11	%	515		0.92	%	414		0.73	%	336		0.59	%
Commercial investor real estate mortgage	317		4.85	%	241		3.76	%	233		3.53	%	169		2.63	%	98		1.51	%
Total investor real estate	317		3.58	%	241		2.75	%	233		2.63	%	169		1.94	%	98		1.14	%
Residential first mortgage	22		0.11	%	22		0.11	%	22		0.11	%	24		0.12	%	24		0.12	%
Home equity—lines of credit	27		0.88	%	31		0.97	%	29		0.89	%	29		0.91	%	28		0.84	%
Home equity—closed-end	6		0.23	%	6		0.24	%	6		0.23	%	6		0.23	%	6		0.24	%
Total consumer	55		0.17	%	59		0.18	%	57		0.17	%	59		0.18	%	58		0.17	%
Total non-performing loans	$	847	0.87	%	$	906	0.94	%	$	805	0.82	%	$	642	0.65	%	$	492	0.50	%

Early and Late Stage Delinquencies

Accruing 30-89 Days Past Due Loans	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2024				3/31/2024				12/31/2023				9/30/2023				6/30/2023
Commercial and industrial	$	56	0.11	%	$	55	0.11	%	$	64	0.12	%	$	52	0.10	%	$	55	0.10	%
Commercial real estate mortgage—owner-occupied	4		0.09	%	8		0.17	%	5		0.10	%	7		0.14	%	4		0.09	%
Commercial real estate construction—owner-occupied	—		—	%	1		0.18	%	1		0.48	%	—		—	%	—		—	%
Total commercial	60		0.11	%	64		0.12	%	70		0.12	%	59		0.10	%	59		0.10	%
Commercial investor real estate mortgage	10		0.16	%	—		—	%	—		—	%	115		1.78	%	1		0.01	%
Total investor real estate	10		0.12	%	—		—	%	—		—	%	115		1.31	%	1		0.01	%
Residential first mortgage—non-guaranteed (1)	109		0.55	%	105		0.53	%	106		0.53	%	95		0.48	%	83		0.42	%
Home equity—lines of credit	23		0.75	%	28		0.89	%	27		0.84	%	33		1.02	%	28		0.85	%
Home equity—closed-end	13		0.51	%	13		0.54	%	14		0.57	%	11		0.46	%	10		0.43	%
Consumer credit card	18		1.34	%	18		1.35	%	19		1.43	%	18		1.43	%	16		1.28	%
Other consumer—exit portfolios	2		8.16	%	2		5.61	%	3		5.86	%	6		1.71	%	6		1.54	%
Other consumer	65		1.06	%	70		1.13	%	91		1.47	%	80		1.30	%	79		1.32	%
Total consumer (1)	230		0.84	%	236		0.84	%	260		0.92	%	243		0.85	%	222		0.78	%
Total accruing 30-89 days past due loans (1)	$	300	0.31	%	$	300	0.31	%	$	330	0.34	%	$	417	0.42	%	$	282	0.29	%
Accruing 90+ Days Past Due Loans	As of
($ amounts in millions, %'s calculated using whole dollar values)	6/30/2024				3/31/2024				12/31/2023				9/30/2023				6/30/2023
Commercial and industrial	$	6	0.01	%	$	7	0.01	%	$	11	0.02	%	$	13	0.02	%	$	10	0.02	%
Commercial real estate mortgage—owner-occupied	1		0.03	%	—		0.01	%	—		0.01	%	1		0.01	%	1		0.02	%
Total commercial	7		0.01	%	7		0.01	%	11		0.02	%	14		0.02	%	11		0.02	%
Commercial investor real estate mortgage	23		0.35	%	—		—	%	23		0.35	%	—		—	%	—		—	%
Total investor real estate	23		0.26	%	—		—	%	23		0.26	%	—		—	%	—		—	%
Residential first mortgage—non-guaranteed (2)	73		0.37	%	69		0.35	%	61		0.31	%	58		0.30	%	53		0.28	%
Home equity—lines of credit	18		0.56	%	19		0.60	%	20		0.62	%	16		0.49	%	19		0.56	%
Home equity—closed-end	6		0.26	%	7		0.29	%	7		0.30	%	7		0.29	%	8		0.31	%
Consumer credit card	18		1.36	%	19		1.42	%	20		1.45	%	17		1.37	%	15		1.26	%
Other consumer—exit portfolios	—		1.42	%	—		1.08	%	—		0.81	%	1		0.18	%	1		0.18	%
Other consumer	21		0.34	%	26		0.42	%	29		0.46	%	27		0.44	%	24		0.40	%
Total consumer (2)	136		0.53	%	140		0.55	%	137		0.51	%	126		0.45	%	120		0.43	%
Total accruing 90+ days past due loans (2)	$	166	0.17	%	$	147	0.15	%	$	171	0.17	%	$	140	0.14	%	$	131	0.13	%
Total delinquencies (1) (2)	$	466	0.48	%	$	447	0.46	%	$	501	0.51	%	$	557	0.57	%	$	413	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 $50 million at 6/30/2024, $45 million at 3/31/2024, $46 million at 12/31/2023, $43 million at 9/30/2023, and $36 million at 6/30/2023.

(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 $40 million at 6/30/2024, $44 million at 3/31/2024, $34 million at 12/31/2023, $23 million at 9/30/2023, and $24 million at 6/30/2023.

21

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

Forward-Looking Statements

This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. 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. 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 interest rates and unemployment rates, inflation, 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 businesses and our financial results and conditions.

•Changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets (such as our portfolio of investment securities) and obligations, as well as the availability and cost of capital and liquidity.

•Volatility and uncertainty about the direction of interest rates and the timing of any changes, which may lead to increased costs for businesses and consumers and potentially contribute to poor business and economic conditions generally.

•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 declining interest rates, and the related acceleration of premium amortization on those securities.

•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.

•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, or the need to price interest-bearing deposits higher due to competitive forces. Either of these activities could increase our funding costs.

•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.

•The loss of value of our investment portfolio could negatively impact market perceptions of us.

•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.

•The effects of social media on market perceptions of us and banks generally.

•Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.

•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.

•Volatility in the financial services industry (including failures or rumors of failures of other depository institutions), along with actions taken by governmental agencies to address such turmoil, could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital.

•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of which 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.

•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 and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within expected timeframes, or might be less than projected; and difficulties in integrating acquired businesses.

•The success of our marketing efforts in attracting and retaining customers.

•Our ability to achieve our expense management initiatives.

•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 the ability of those borrowers to service any loans outstanding to them and/or reduce demand for loans in those industries.

•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.

•Fraud, theft or other misconduct conducted by external parties, including our customers and business partners, or by our employees.

•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 inability 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.

•Our ability to identify and address operational risks associated with the introduction of or changes to products, services, or delivery platforms.

•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.

•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

22

Regions Financial Corporation and Subsidiaries                                

Financial Supplement (unaudited) to Second Quarter 2024 Earnings Release

misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.

•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.

•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.

•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, such as changes to debit card interchange fees, special FDIC assessments, any new long-term debt requirements, 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.

•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.

•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.

•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 laws and exclusive forum provision in our certificate of incorporation and bylaws.

•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.

•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.

•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 effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes and environmental damage (especially 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.

•The impact of pandemics on our businesses, operations and financial results and conditions. The duration and severity of any pandemic as well as government actions or other restrictions in connection with such events 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.

•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” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2023 and in Regions’ subsequent filings with the SEC.

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.

23

EX-99.3

2nd Quarter Earnings July 19, 2024 Exhibit 99.3

2 Second Quarter Overview Continue to deliver consistent, sustainable long-term performance (1) Non-GAAP, see appendix for reconciliation. Key Performance Metrics 2Q24 Reported Adjusted(1) Net Income Available to Common Shareholders $477M Diluted Earnings Per Share $0.52 Total Revenue $1.7B $1.8B Non-Interest Expense $1.0B $1.0B Pre-Tax Pre-Provision Income(1) $727M $749M Efficiency Ratio 57.6% 57.6% Net-Charge Offs / Avg Loans 0.42% 0.42% • Consistently generating top-quartile returns in our peer group • Continued focus on disciplined capital allocation and risk-adjusted returns • Benefiting from loyal customer base, attractive footprint & diverse balance sheet with solid capital, robust liquidity and prudent credit risk management • Proactive hedging strategies position Regions for success in an array of economic conditions • Delivering consistent, sustainable, long- term performance while remaining focused on soundness, profitability, & growth Highlights

3 $99.2 $96.9 $97.5 66.0 63.6 64.2 33.2 33.3 33.3 2Q23 1Q24 2Q24 $98.6 $97.4 $97.3 65.7 64.0 64.0 32.9 33.4 33.3 2Q23 1Q24 2Q24 Average Loans & Leases ($ in billions) Business LoansConsumer Loans Ending Loans & Leases ($ in billions) Loans • Avg and ending loans remained relatively stable • Avg business loans remained relatively stable, while ending loans increased ~1%; Despite near-term macroeconomic and political uncertainty, pipelines are beginning to rebuild • Avg consumer loans remained stable as modest growth in residential mortgage and consumer credit card were offset by declines in home equity and run-off portfolios • Expect 2024 average loan balances to be stable to down modestly compared to 2023 QoQ Highlights & Outlook

4 $127.0 $129.0 $126.6 81.6 81.1 80.1 35.3 37.1 36.5 7.2 7.8 7.4 2.9 3.0 2.6 2Q23 1Q24 2Q24 $125.5 $127.1 $126.9 81.0 79.2 79.8 34.9 37.1 36.7 7.4 7.7 7.5 2.2 3.1 2.9 2Q23 1Q24 2Q24 (1) Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits) • Average deposits decreased modestly; Ending deposits decreased ~2% reflecting anticipated tax seasonality • Deposit remixing has slowed; NIB mix has remained steady in the low 30% range • Competitive pricing and customer demand for promotional products remain stable • Expect 2024 average deposits to be stable to down modestly compared to 2023 Average Deposits by Segment ($ in billions) Deposits Deposit trends are stabilizing QoQ Highlights & Outlook Wealth Mgt Other(1) Consumer Bank Corporate Bank Ending Deposits by Segment ($ in billions)

5 (1) Market rate impacts include contractual loan, cash and borrowings repricing; fixed asset turnover at higher market rates; securities premium amortization net discount accretion $2M lower vs 1Q at $11M. (2) Other mostly from reversal of seasonal asset dividends received in 1Q and the higher average cash balance negative impact on NIM, offset by more favorable credit interest reversals/recoveries. (3) Expectations assume stable or lower short-term interest rates; flat long-term rates held at 06/30/2024 levels. Market Rates(1) • NII +$2M QoQ; NIM -4bps to 3.51% • Elevated long-term interest rates increase new production fixed- rate asset yields • Sold $980M Govt/Agency securities at $50M pre-tax loss; Reinvested proceeds at higher market yields (+2.4%; ~2.6yr payback) and extended portfolio duration 0.1yrs • Slowing deposit remixing and pricing normalization • 2Q deposit cost = 1.59% • 2Q interest-bearing deposit cost = 2.34% (stable 43% cycle-to-date interest-bearing beta) $1,184 $1,186 2Q24 1Q24 +2bps -6bps+4bps +$5M -$4M+$13MNII NIM NII & Margin Performance NII has troughed; Expect growth over 2H24 Other(2) -$12M -4bps $1,393 $1,197 $1,198 4.04% 3.55% 3.51% 2Q23 1Q24 2Q24 NII Range and Assumptions for 2024(3) NII NIM Deposit Cost/Mix +$2M -4bps Securities Reposition FTE NII and NIM ($ in millions) NII Attribution ($ in millions) Drivers of NII and NIM • NII to grow in 2H24, with asset turnover at elevated rate levels being the primary driver ◦ 3Q24 NII expected to be flat to up 2% vs 2Q24 ◦ 2024 NII expected to be $4.7-$4.8B; Expect to operate toward the upper end of the range • 2024 NIM expected to be low 3.50%'s; Higher cash levels could reduce NIM modestly in the near-term with no NII impact • Assumes rising rate interest-bearing deposit beta peaks in the ~mid-40s (mostly stable from current levels); falling rate beta ~mid-30s

6 • Flatter yield curve (compared to 6/30) • Business performance underperforms expectations including full cycle interest- bearing deposit beta above ~45% with deposit outflows or continuous remixing 2024 NII Range and Assumptions "Neutral" interest rate risk position; NII performance will depend mostly on deposit dynamics (1) NII represents non-FTE Net Interest Income. 2024 NII(1) Performance Range NII Sensitivity to Interest Rates $4.8 Billion $4.7 Billion Upper End Lower End • Through hedging, managed NII sensitivity to be mostly neutral to changes in interest rates late in the cycle ◦ Sensitivity to short-term rates: Given mostly neutral position, more or less fed funds cuts will not be a material driver of NII variability within the range (assume mid-30%s falling rate interest- bearing deposit beta in the event there are rate cuts) ◦ Sensitivity to middle/long-term rates: Remain modestly asset sensitive due to $12-14B in fixed rate loan production & securities reinvestment per year Middle Expect to operate toward upper end of range • Steeper yield curve (compared to 6/30) • Business outperformance including full cycle interest-bearing deposit beta below 45% and accelerating loan/deposit growth later in year • Further strategic initiatives (such as securities repositioning) • Stable yield curve (compared to 6/30) • Business performance meets expectations including full cycle interest-bearing deposit beta at ~45% with NIB/total deposit mix in low 30%s and Muted loan and/or deposit growth

7 $576 $613 $595 2Q23 1Q24 2Q24 ($ in millions) Change vs 2Q24 1Q24 2Q23 Service charges $151 2.0% (0.7)% Card and ATM fees 120 3.4% (7.7)% Wealth management income 122 2.5% 10.9% Capital markets (Ex CVA/DVA) 70 (24.7)% (9.1)% Mortgage income 34 (17.1)% 30.8% Non-Interest Income (1) Non-GAAP; see appendix for reconciliation. RECMs - Real Estate Capital Markets; DCMs - Debt Capital Markets • NIR decreased ~3% on a reported basis and included $50M pre-tax loss on securities repositioning in both 1Q and 2Q; NIR decreased ~3% on an adjusted(1) basis • Service charges increased ~2% primarily due to 1 additional business day in 2Q • Card & ATM fees increased ~3% attributable to higher debit & credit card transaction volumes • Capital markets income decreased ~25%; Ex. CVA/DVA also decreased ~25% driven by decreased M&A, RECMs and DCMs activity from better levels experienced in 1Q • Wealth Management generated record revenue increasing ~3% driven by increased sales activity and continued strength in financial markets • Mortgage income decreased ~17% driven by $6M favorable adjustment to Regions' mortgage pipeline valuation in 1Q which did not repeat in 2Q • Other NIR increased ~21% attributable primarily to negative valuation adjustments on certain equity investments in 1Q that did not repeat in 2Q • Expect full-year 2024 adjusted non-interest income to be at the upper end of the $2.3-$2.4B range $576 $563 $545 2Q23 1Q24 2Q24 Non-Interest Income ($ in millions) Adj. Non-Interest Income(1) ($ in millions) QoQ Highlights & Outlook

8 $1,111 $1,131 $1,004 56.4% 64.3% 57.6% Non-interest expense Efficiency ratio 2Q23 1Q24 2Q24 $1,110 $1,097 $1,032 $82 $22 $— 56.4% 60.6% 57.6% Adjusted non-interest expense Incremental operational losses Adjusted efficiency ratio 2Q23 1Q24 2Q24 • NIE decreased ~11% on a reported basis including $37M contingent reserve release related to a prior acquisition, an additional $4M for Regions' FDIC insurance special assessment accrual and ~$4M in severance-related costs; NIE decreased ~6% on an adjusted basis(1) driven by lower salaries & benefits, occupancy, and professional fees • Salaries & benefits decreased ~7% driven by lower HR related expenses (1Q restart of 401(k) match and payroll taxes) and base salaries partially offset by 2 additional months of merit • Occupancy expense decreased ~8% as the company continues to focus on reducing occupied square footage • Professional fees decreased ~11% driven by higher settlement expense in 1Q • Committed to prudent expense management, focusing on largest categories - S&B, occupancy and vendor spend • Expect full-year 2024 adjusted NIE to be $4.15-$4.2B; attributable primarily to higher revenue; Expect full-year 2024 operational losses to be ~$100M(4) 3,387 3,419 3,434 3,443 3,541 3,698 3,886 4,262 $135 Adjusted non-interest expense Incremental Operational Lossess 2016 2017 2018 2019 2020 2021 2022 2023 Non-Interest Expense 3.3% CAGR (1) (1) Non-GAAP; see appendix for reconciliation. (2) Adjusted NIE in 2020-2022 were impacted by 2Q20 acquisition of Ascentium Capital and 4Q21 acquisitions of EnerBank, Sabal Capital Partners, and ClearSight Advisors. (3) Excluding incremental operational losses in 2023, CAGR would be 2.9%. (4) Included in 2024 FY adjusted NIE guidance. (1) Non-Interest Expense ($ in millions) Adj. Non-Interest Expense(1) ($ in millions) Adj. Non-Interest Expense(1)(2)(3) ($ in millions) QoQ Highlights & Outlook

9 • 2Q annualized NCOs totaled 42 bps, decreasing 8 bps on a reported basis • 2Q NPL decrease attributable primarily to slowing pace of downgrades and increased paydowns and loan sales • 2Q ACL remained flat attributable to relatively stable economic forecast and improvement in overall risk profile of the portfolio offset by increases in Specific Reserve for large borrowers in certain portfolios previously identified as under stress ◦ ACL on Office Portfolio increased to 6.4%; Remain confident about composition of Office Portfolio • Expect full-year 2024 NCOs to be towards the upper end of the 40-50 bps range attributable to a few large credits within higher risk portfolios; Expected losses are fully reserved for, assuming stable loans and economic outlook should result in a flat to declining ACL ratio over 2H24 Asset Quality Broad-based improvement $1,633 $1,731 $1,732 1.65% 1.79% 1.78% 332% 191% 204% ACL ACL/Loans ACL/NPLs 2Q23 1Q24 2Q24 $81 $121 $101 0.33% 0.50% 0.42% Net Charge-Offs Net Charge-Offs Ratio 2Q23 1Q24 2Q24 $492 $906 $847 0.50% 0.94% 0.87% NPLs - excluding LHFS NPL/Loans 2Q23 1Q24 2Q24 (1) $ in millions. Net Charge-Offs(1) Allowance for Credit Losses (ACL)(1) Non-Performing Loans (NPLs)(1) QoQ Highlights & Outlook

10 • Basel III Endgame - Estimate a low to mid-single digit increase in RWAs under the Expanded Risk Based Approach in addition to the phase-in of AOCI into regulatory capital ◦ CET1 adjusted to include AOCI at 6/30 is estimated at 8.2%(4) • Declared 2Q common dividends of $220M and executed $87M in share repurchases • Anticipate continuing to manage CET1 consistent with current levels over the near term • Tangible common book value per share(4) of $10.61, a 1.8% increase QoQ • Board of Directors declared a quarterly common stock dividend of $0.25 per share, a 4% increase over 2Q • From 4Q24 through 3Q25, the preliminary Stress Capital Buffer will remain floored at 2.5% • Total Liquidity Sources well above required levels as informed by internal liquidity stress testing; 2Q vs 1Q changes reflect reversion of seasonal deposits and increase in securities • Including capacity at the discount window, liquidity to uninsured deposits ratio is ~172%(5) 10.1% 10.3% 10.4% 2Q23 1Q24 2Q24 Capital and Liquidity 11.4% 11.6% 11.7% 2Q23 1Q24 2Q24 Tier 1 Capital Ratio(1) Common Equity Tier 1 Ratio(1) Position ($B) as of 1Q24 2Q24 Cash at the Federal Reserve(2) $ 8.7 $ 5.6 Unencumbered Investment Securities(3) 20.8 22.3 Federal Home Loan Bank Availability 11.2 9.4 Discount Window Availability 20.1 19.5 Total $ 60.8 $ 56.8 (1) Current quarter ratios are estimated. (2) Fed master account closing balance only. Does not include other small in transit / processing items included in Call Report or SEC reports. (3) Unencumbered Investment Securities comprise securities that are eligible as collateral for secured transactions through market channels or are eligible to be pledged to the Federal Home Loan Bank or the Federal Reserve Discount Window. (4) Non-GAAP; see appendix for reconciliation. (5) This ratio excludes intercompany and secured deposits. Total Liquidity Sources QoQ Highlights & Outlook

11 2024 Expectations (1) Non-GAAP, see appendix for reconciliation. (2) The reconciliation with respect to forward-looking non-GAAP measures is expected to be consistent with actual non-GAAP reconciliations included in the attached appendix or in previous filings with the SEC. (3) Expectations assume stable or lower short-term interest rates; flat long-term rates held at 06/30/2024 levels. FY 2024 Expectations Net Interest Income (vs. 2023 of $5,320)(3) $4.7-$4.8B (expect to operate toward upper end) Adjusted Non-Interest Income (vs. adjusted 2023 of $2,259)(1)(2) $2.3-$2.4B (expect to be at upper end) Adjusted Non-Interest Expense (vs. adjusted 2023 of $4,262)(1)(2) $4.15-$4.2B Average Loans (vs. 2023 of $98,239) stable to down modestly Average Deposits (vs. 2023 of $126,543) stable to down modestly Net Charge-Offs / Average Loans 40-50 bps (expect to be toward the upper end) Effective Tax Rate ~20-21% Expectations for 3Q24 & Beyond(3) • NII to grow in 2H24, with asset turnover at elevated rate levels being the primary driver ◦ 3Q24 NII expected to be flat to up 2% vs 2Q24 • 2024 NIM expected to be low 3.50%'s; Higher cash levels could reduce NIM modestly in the near-term with no NII impact • Anticipate continuing to manage CET1 consistent with current levels over the near term • Expected losses are fully reserved for, assuming stable loans and economic outlook should result in a flat to declining ACL ratio over 2H24

Appendix

13 Selected Items Impact Second Quarter 2024 Highlights (1) Non-GAAP, see appendix for reconciliation. (2) Based on income taxes at an approximate 25% incremental rate. The 2Q24 adjustment to other miscellaneous expense for a contingent reserve release related to a prior acquisition included a non-taxable component. ($ amounts in millions, except per share data) 2Q24 QoQ Change YoY Change Net interest income $ 1,186 0.2% (14.1)% Provision for (benefit from) credit losses 102 (32.9)% (13.6)% Non-interest income 545 (3.2)% (5.4)% Non-interest expense 1,004 (11.2)% (9.6)% Income before income taxes 625 34.7% (14.1)% Income tax expense 124 29.2% (15.6)% Net income 501 36.1% (13.8)% Preferred dividends 24 (4.0)% (4.0)% Net income available to common shareholders $ 477 39.1% (14.2)% Diluted EPS $ 0.52 40.5% (11.9)% Summary of Second Quarter Results (amounts in millions, except per share data) 2Q24 Pre-tax adjusted items(1): Securities gains (losses), net $ (50) FDIC special assesment (4) Salary and employee benefits—severance charges (4) Branch consolidation, property and equipment charges (1) Other miscellaneous expenses 37 Total pre-tax adjusted items(1) $ (22) Diluted EPS impact(2) $ (0.01)

14 2.36 2.52 2.59 2Q22 2Q23 2Q24 2.99 3.85 4.89 2Q22 2Q23 2Q24 159 174 186 2Q22 2Q23 2Q24 22.2% 23.6% 24.3% 32.2% 31.9% 31.3% 45.6% 44.5% 44.4% 2Q22 2Q23 2Q24 2.5 5.0 5.2 2Q22 2Q23 2Q24 71% 74% 75% 29% 26% 25% 2Q22 2Q23 2Q24 Growth in Digital Mobile Banking Log-Ins (Millions) Customer Transactions(2)(3) Deposit Transactions by Channel Mobile Banking Active Users (Millions)(1) Digital Credit Card Sales (Accounts in Thousands) (5) Digital Non- Digital Mobile ATMBranch +64% +17% 21% 27% 19% 77% 71% 80% 2% 2% 1% 2Q22 2Q23 2Q24 Digital Branch Contact Center Consumer Checking Sales by Channel(4) Mobile App Rating (6) Zelle Transactions (Millions)Sales & TransactionsDigital Usage +10% (1) Total number of unique customers who have successfully authenticated and logged into the mobile app at least once within the last 90 days. (2) Digital transactions represent online and mobile only; Non-digital transactions represent branches, contact centers and ATMs. (3) Transactions represent Consumer customer deposits, transfers, mobile deposits, fee refunds, withdrawals, payments, official checks, bill payments, and Western Union. Excludes ACH and Debit Card purchases/refunds. (4) Includes cross-channel sales capabilities through digital banker dashboard applications. Additional fraud controls in digital channels placed in 4Q23. (5) Includes digital and pre-approved credit card accounts opened. (6) Represents iOS app store rating +104%

15 (1) Total Wealth Management Relationships as of May '24 to May '23. Investments in Our Businesses Investments in talent, technology and strategic acquisitions continue to pay off • Real Estate Capital Markets 2Q24 origination revenue up 15% vs 2Q23 • Clearsight & BlackArch acquisitions remain well-positioned for revenue synergies with strong pipelines • Ascentium Capital is providing cross-sell opportunities throughout our Commercial & Branch network • Launched new cash management client tools CashFlow IQ and CashFlow Advisor • Continued focus on Small Business resources in key strategic markets • Ongoing investment in modernizing Lending, Treasury Management, Embedded Finance, & Client-Facing Digital platforms Corporate • 1st in VISA Power Score for 41 consecutive quarters on Debit • Mobile app improvements: Zelle for Small Business and Card Services enhancements; 2Q24 mobile users increased 3% YoY • Implemented new digital SMS onboarding system for consumer checking customers • Hiring Mortgage Producers in key growth markets • Continue to grow primary consumer checking relationships & deepen customer relationships • Raising the bar on industry leading Customer Satisfaction • Enhanced personalization with Regions Greenprint to help customers build financial confidence Consumer • Total Wealth Management Relationship growth of 8.1%(1) • Non-Interest Revenue up 11% vs 2Q23; Record quarterly NIR • Creating buzz since the launch of the Philanthropic Solutions group with 434k impressions through Regions' direct channels, and more than 27 million in readership through news article • Protecting our clients through enhanced focus on fraud prevention, identifying trends, and client education through podcasts and email drip campaigns • Launched the Wealth Advisor Locator Tool on Regions.com; over 500k site visits in 2Q24 Wealth

16 Notional Fixed Rate Maturity AFS Securities(3) $1.3B 4.8% 0.9 years Debt(3) (4) $1.4B 0.6% 2.3 years Time Deposits(3) $0.3B 5.0% 0.4 years 1 2 3 4 Cash Flow Hedge Notional(1) (1) Floating rate leg of swaps vs overnight SOFR. (2) Collars use short interest rate caps to pay for long interest rate floors; weighted avg. floor of 1.86%, weighted avg. cap of 6.22%. (3) Fair value hedges on securities pay fixed; fair value hedges on debt and time deposits receive fixed. (4) Excludes forward-starting fair value swap on Q2 2024 debt issuance. (Quarterly Avg) 1 2 3 4 5 6 2.86% 2.92% 2.95% 3.03% 3.18% 3.59% 3.63% 2024 2025 2026 2027 2028 2029 2030 $19.9B $19.0B $16.9B $14.2B $8.6B $2.6B $2.0B - - - - +$0.5B +$1.0B +$1.0B $19.9B $19.0B $16.9B $14.2B $9.1B $3.6B $3.0B (Annual Avg) as of 6/30/2024 2Q24 3Q24 4Q24 1Q25 Swap Notional - 1Q24 $20.6B $19.6B $19.0B $19.6B 2Q24 Swap Changes - - - - Swap Notional - 2Q24 $20.6B $19.6B $19.0B $19.6B Swaps Swap Receive Rate(1) 2.83% 2.85% 2.85% $1.0B $2.0B $2.0B $2.0B $1.0B $0.0B $0.0BCollar Notional(2) $0.5B $1.5B $1.5B $2.0B Collars Hedging Strategy Update Creates mostly "neutral" interest rate risk position with well-protected margin in 3.50%s Fair Value Swaps(1) 2Q 2024 Activity Cash Flow Hedging - Hedges in place provide a well protected sensitivity profile in the near-term. Focused on opportunistically adding protection in outer years • Added $1B in forward-starting (July '28), 3-year receive- fixed swaps (3.83%)

17 • Portfolio constructed to protect against changes in market rates ◦ Duration is fully extended at ~4.5 years as of 06/30/2024; provides offset to long-duration deposit book ◦ ~29% of securities in the portfolio are bullet-like (CMBS, corporate bonds, agency bullets, and USTs) ◦ MBS mix concentrated in less sensitive prepayment collateral types: lower loan balances, seasoning, and state-specific geographic concentrations • 97% US Government or Agency guaranteed ◦ ~$900M high quality, investment grade corporate bond portfolio is short- dated (2.0 year duration) and well diversified across sectors and issuers ◦ The Agency CMBS portfolio is guaranteed by government agencies and is collateralized by mortgage loans on multifamily properties • 97% classified as Available-for-Sale • In 2Q24, sold ~$980M of AFS securities, realizing $50M in pre-tax losses ◦ Proceeds were reinvested at higher current market yields; +2.4% above sales (~2.6yr payback) ◦ The portfolio mix, duration, and liquidity profile were largely unchanged (extended portfolio duration 0.1yrs) • In 2Q, grew securities balance by roughly $750M in order to provide an economic balance sheet hedge and reduce the cost of June debt issuance • In 2Q, reinvestment of paydowns/maturities was accretive to portfolio yield by ~2.7% (excludes reinvestment of sales proceeds) • Pre-Tax unrealized losses on AFS Securities expected to decline ~7% by YE24 and ~22% by YE25(2) (1) Includes AFS securities, the $3B unrealized AFS loss, and HTM securities as of 6/30/2024 (excludes $50M unrealized HTM loss) (2) $ in Billions. Estimated, using current portfolio and market forward interest rates and the portfolio as of 06/30/2024. Agency/UST 6% Agency MBS 69% Agency CMBS 22% Corporate Bonds 3% Securities Portfolio Provides downside rate protection/liquidity Securities Portfolio Composition(1) $29.3B Pre-Tax AFS Unrealized Losses(2) % Represents Cumulative Decline 06/30/24 YE 2024 YE 2025 YE 2026 (4)B (3)B (2)B (1)B 0B -7% -22% -36%

18 0.87% —% 0.50% 1.00% 1.50% 2.00% 2.50% 0.42% —% 0.50% 1.00% 1.50% 2.00% Historical Credit Profile Non-Performing Loans Total Net Charge-Offs 1Q20 2Q24 4Q221Q20 4Q22 2Q24 • Non-Accrual and loss rate levels are reverting to historical pre-pandemic ranges as expected and will continue to do so during the 2H2024. Average Pre-Pandemic 0.46% Average Pandemic 0.35% Average Pre-Pandemic 1.07% Average Pandemic 0.64% 1Q13 1Q13

19 Commercial Real Estate (Outstanding balances as of June 30, 2024) Highly Diversified Portfolio (IRE including Unsecured CRE) (1) Excludes $5.2B of Owner-occupied CRE whose source of repayment are individual businesses, and whose credit performance resembles Commercial during periods of stress. (2) Based off 03/31/2024 Risk Based Capital estimate. Supervisory limits in the December 2006 joint regulatory issuance "Guidance on Concentrations in Commercial Real Estate Lending, Sound Risk Management Practices". Res. Homebuilders 7.2% Other 3.8% Hotel 5.2% Healthcare 8.2% Retail 8.9% Residential Land 0.5% Office 10.1% Data Center 2.1% Diversified 12.2% Industrial 14.2% Commercial Land 0.1% Apartments 27.5% $15.6B $ in billions % of Total Loans Unsecured CRE (incl. REITS) $ 6.8 6.9 % IRE $ 8.8 9.1 % Total(1) $ 15.6 16.0 % Yearly Loan Maturities 2% 16% 29% 26% 18% 5% 4% Multi-Family Office Other Real Estate Total Real Estate Matured 2024 2025 2026 2027 2028 >5years $— $1,000 $2,000 $3,000 Office 3% Data Center 5% Diversified 19% Apartments 5% Hotel 12% Industrial 26%Other 9% Retail 21% REITs within Total: $5.1B • Unsecured loans for RE purposes generally have low leverage, with strong access to liquidity ◦ 60% of REIT outstanding balances are investment grade or mapped to an IG risk rating, which provides loss insulation to the overall portfolio ◦ Balance of remaining unsecured is primarily to institutional RE Funds backed by predominantly IG sponsors • Total IRE (incl unsec. CRE) to Risk Based Capital(2): 108% and Construction, Land, and Acq. & Dev. to Risk Based Capital: 22% are well below supervisory limits (300%/100%) Key Portfolio Metrics

20 CRE- Office Portfolio (Outstanding balances as of June 30, 2024) (1) $ in Millions. Amounts include IRE and CRE Unsecured loans but exclude Held For Sale loans. Metrics represent 06/30/2024 results except for charge-offs, which are for 2Q24, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. QoQ balance increase primarily due to three existing credits totaling ~$70 million being reclassed to the Office sector; excluding this reclass, Office balances were flat QoQ. (2) Stressed LTV based on GreenStreet's Commercial Property Price Index as of July 5, 2024; applied the "Recent Peak" discount to properties where the latest appraisal is >1 year (37% discount); applied the "Past 12 Month" discount to properties where an appraisal occurred within the last year (9% discount). (3) Includes matured balances. • Business Offices secured = 90% / unsecured = 10% • WA LTV 67% (based on appraisal at origination or most recent received); Stressed WA LTV 87% using GreenStreet(2); QoQ improvement reflects reduced GreenStreet discount for appraisals <12 month old, as well as an increase in updated RF appraisals • 62% of secured outstanding IRE balances are located in the South of which 91% is Class A • Investment Grade tenants make up ~80% of Single Tenant IRE balances • For Office loans maturing in the next 12 months, properties are 82% leased on average (82% occupied) • $836M or 53% of total Office balances will mature in the next 12 months(3) • Rents have reduced slightly or remain flat from pre-COVID levels while capital costs (i.e., tenant improvements) and rent concessions are extremely high, contributing to a substantial decline in net effective rents Key Portfolio Metrics(1) Balances $ $1,574 % of Total Loans 1.6% NPL $237 NPL / Loans 15.1% Charge-offs $0 Charge-offs / Loans —% ACL $101 ACL / Loans 6.4% Ongoing Portfolio Surveillance 61% 39% Multi-Tenant Single Tenant 93% 7% Class A Class B Investor Real Estate Office Portfolio Overview 76% 24% Suburban Urban

21 CRE- Multi-Family Portfolio (Outstanding balances as of June 30, 2024) Key Portfolio Metrics(1) Balances $ $4,279 % of Total Loans 4.4% NPL $0 NPL / Loans —% Charge-offs $0 Charge-offs / Loans —% ACL $77 ACL / Loans 1.8% • WA LTV 52% (based on appraisal at origination or most recent received); Stressed WA LTV 62% using GreenStreet(3)(4); QoQ improvement reflects reduced GreenStreet discount for appraisals <12 month old, as well as an increase in updated RF appraisals • Vacancies up due to record levels of construction deliveries in high growth markets, primarily in the Sunbelt • Undersupply of housing, home price appreciation, and elevated mortgage rates are keeping renters renting longer, further backstopping demand fundamentals for multi-family property • $1,861M or 43% of total Multi-Family balances will mature in the next 12 months(5) • Multi-Family exposure is well diversified across ~120 submarkets; 42% is in the construction phase of development, 24% is in lease up, and 34% is stabilized • Absent an economic recession or an unexpected further significant increase in long term interest rates, expect portfolio stress to be temporary in nature as borrowers/sponsors/markets continue to adjust to the higher interest rate environment Predominantly Secured and Weighted to the South(2) 86% 10% 4% South West Midwest 85% 15% Secured Unsecured Ongoing Portfolio Surveillance (1) $ in Millions. Amounts include IRE and CRE Unsecured loans but exclude Held For Sale loans. Metrics represent 06/30/2024 results except for charge-offs, which are for 2Q24, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. (2) Geographic percentages based on IRE balances. (3) Stressed LTV based on GreenStreet's Commercial Property Price Index as of July 5, 2024; applied the "Recent Peak" discount to properties where the latest appraisal is >1 year (22% discount); applied the "Past 12 Month" discount to properties where an appraisal occurred within the last year (2% discount). (4) Excludes Affordable Housing. (5) Includes matured balances.

22 CRE- Senior Housing Portfolio (Outstanding balances as of June 30, 2024) (1) $ in Millions. Metrics exclude ~$160M in non-real estate commercial loans in the Sr. Housing sector; Amounts also exclude Held For Sale loans. Metrics represent 06/30/2024 results except for charge-offs, which are for 2Q24, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. Key Portfolio Metrics(1) Balances $ $1,231 % of Total Loans 1.3% NPL $79 NPL / Loans 6.5% Charge-offs $0 Charge-offs / Loans —% ACL $45 ACL / Loans 3.6% • The fundamentals of the senior housing market are improving, driven by demographic, economic, and sectoral trends • At current penetration rates, projections indicate that the industry could return to 90% occupancy as soon as 2026 • Rent growth remains strong as wage growth and inflation moderate; as inflation trends downward, rents are beginning to exceed expense growth • Staffing levels have returned to near pre-pandemic levels as labor markets have normalized • This employment rebound has alleviated upward pressure on wages, helping reduce the use of agency staffing Ongoing Portfolio Surveillance

23 Transportation - Trucking (Outstanding balances as of June 30, 2024) (1) $ in Millions. Metrics represent 06/30/2024 results except for charge-offs, which are for 2Q24, annualized, based on average balances. NPL & ACL percentages are based on Portfolio totals. Metrics are inclusive of the Ascentium portfolio. Key Portfolio Metrics(1) Balances $ $1,482 % of Total Loans 1.5% NPL $56 NPL / Loans 3.8% Charge-offs $6 Charge-offs / Loans 1.7% ACL $62 ACL / Loans 4.2% • Trucking companies are working through one of the most prolonged downturns in the U.S. domestic freight market in recent memory • The weak volumes over the past year have also hit related businesses, including freight brokers that match loads from shippers to available trucks • Depressed spot rates continue to put pressure on smaller carriers and force exits from industry participants which should help align capacity with demand over time • Larger, established carriers continue to navigate the current cycle without significant deterioration in credit quality given less reliance overall on the spot market relative to smaller carriers • Outbound Tender Rejection Rates have moved higher, signaling higher national freight demand • Gulf of Mexico and East Coast port volumes are up YoY with near-normal water levels allowing more ship transits through the Panama Canal Ongoing Portfolio Surveillance

24 Consumer Lending Portfolio • Avg. origination FICO 757 • Current LTV 52% • 98% owner occupied • Avg. origination FICO 773 • Current LTV 35% • 62% of portfolio is 1st lien • Avg. loan size $34,529 • $79M to convert to amortizing or balloon during 2024 • Avg. origination FICO 750 • Avg. new loan $13,685 • 2Q24 Yield 8.33% • Avg. origination FICO 783 • Avg. new line $7,962 • 2Q24 Yield 14.62% • 2Q24 QTD NCO 4.00% 4% 5% 4% 4% 10% 6% 8% 16% 10% 82% 67% 78% 2% 2% 2% Cons R/E secured Cons non-R/E secured Total consumer Not Available Above 720 620-680 Below 620 681-720 Consumer FICO Scores(1) (1) Refreshed FICO scores as of 06/30/2024. Consumer R/E secured balances comprise 77% of the Consumer portfolio while Consumer non-R/E balances comprise 23% of the Consumer portfolio. (2) Other Consumer consists primarily of EnerBank and Direct portfolios. Residential Mortgage Consumer Credit Card Home Equity Other Consumer(2)

25 $1,731 $(21) $20 $2 $1,732 Allowance for Credit Losses 06/30/2024 • 2Q allowance essentially flat compared to the prior quarter, resulting in a $102M provision expense • Primary drivers of the overall flat ACL were a relatively stable economic forecast and improvement in the overall portfolio risk profile offset by increases in Specific Reserve for large borrowers in certain portfolios previously identified as under stress ($ in millions) 03/31/2024 Specific Reserve Changes Economic/ Qualitative Changes Portfolio Changes QoQ Highlights

26 Pre-R&S period 2Q2024 3Q2024 4Q2024 1Q2025 2Q2025 3Q2025 4Q2025 1Q2026 2Q2026 Real GDP, annualized % change 2.1 % 1.9 % 2.2 % 2.4 % 2.3 % 2.4 % 2.1 % 2.1 % 2.2 % Unemployment rate 3.9 % 4.0 % 4.1 % 4.2 % 4.2 % 4.2 % 4.1 % 4.1 % 4.0 % HPI, year-over-year % change 4.6 % 3.2 % 2.3 % 2.2 % 2.6 % 3.1 % 3.6 % 3.9 % 4.2 % CPI, year-over-year % change 3.3 % 2.9 % 2.9 % 2.6 % 2.5 % 2.6 % 2.6 % 2.5 % 2.5 % Base R&S Economic Outlook (As of June 2024) • A single, base economic forecast represents Regions’ internal outlook for the economy over the reasonable & supportable forecast period • Economic uncertainty is accounted for through qualitative adjustments to our modeled results • Management considered alternative internal and external forecasts to establish appropriate qualitative adjustments • Final qualitative adjustments included consideration of the allowance's sensitivity to economic uncertainties that reflected a 15-20% increase in the unemployment rate

27 As of 6/30/2024 As of 12/31/2023 (in millions) Loan Balance ACL ACL/Loans Loan Balance ACL ACL/Loans C&I $50,222 $701 1.40 % $50,865 $697 1.37 % CRE-OO mortgage 4,781 109 2.27 % 4,887 110 2.25 % CRE-OO construction 370 11 3.07 % 281 7 2.38 % Total commercial $55,373 $821 1.48 % $56,033 $814 1.45 % IRE mortgage 6,536 210 3.20 % 6,605 169 2.56 % IRE construction 2,301 31 1.36 % 2,245 36 1.63 % Total IRE $8,837 $241 2.72 % $8,850 $205 2.32 % Residential first mortgage 20,206 104 0.51 % 20,207 100 0.50 % Home equity lines 3,142 83 2.63 % 3,221 80 2.49 % Home equity loans 2,410 25 1.02 % 2,439 23 0.94 % Consumer credit card 1,349 133 9.85 % 1,341 138 10.24 % Other consumer- exit portfolios 17 — 2.95 % 43 1 3.09 % Other consumer 6,174 325 5.27 % 6,245 339 5.43 % Total consumer $33,298 $670 2.01 % $33,496 $681 2.03 % Total $97,508 $1,732 1.78 % $98,379 $1,700 1.73 % Allowance Allocation • Regions "Day 1" CECL ACL ratio on 1/1/2020 was 1.71%. The company has executed a number of de-risking strategies that have improved the overall loan portfolio. Taking the 2Q24 loan portfolio and applying the "Day 1" ACL rates would produce a proforma Day 1 ACL ratio of 1.61%.

28 Management uses computations of earnings and certain other financial measures, which exclude certain adjustments that are included in the financial results presented in accordance with GAAP, 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 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 fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) 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 fee income and efficiency ratios. Net loan charge-offs (GAAP) are presented excluding adjustments to arrive at adjusted net loan-charge offs (non-GAAP). Adjusted net loan charge-offs as a percentage of average loans (non-GAAP) are calculated as adjusted net loan charge-offs (non-GAAP) divided by average loans (GAAP) and annualized. Regions believes that the exclusion of these adjustments 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. Tangible common shareholders’ equity, tangible common book value per share, and return on average tangible common shareholders' equity (ROATCE) 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, tangible common book value per share, and ROATCE are not formally defined by GAAP or prescribed in any amount by federal banking regulations they are currently considered to be non-GAAP financial measures and other entities may calculate them differently than Regions’ disclosed calculations. Adjustments to shareholders' equity include intangible assets and related deferred taxes and preferred stock. Additionally, adjustments to ROATCE include accumulated other comprehensive income. The Company also presents accumulated other comprehensive excluding adjustments to arrive at adjusted accumulated other comprehensive income (non-GAAP). 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. CET1 is a capital adequacy measure established by federal banking regulators under the Basel III framework. Banking institutions that meet requirements under the regulations are required to maintain certain minimum capital requirements, including a minimum CET1 ratio. This measure is utilized by analysts and banking regulators to assess Regions’ capital adequacy. Under the framework, Regions elected to remove the effects of AOCI in the calculation of CET1. Adjustments to the calculation prescribed in federal banking regulations are considered to be non-GAAP financial measures. Adjustments to CET1 include certain portions of AOCI to arrive at CET1 inclusive of AOCI (non-GAAP), which is a potential impact under recent proposed rulemaking standards. Since analysts and banking regulators may assess Regions’ capital adequacy using proposed rulemaking standards, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis. 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 earnings that excludes selected items does not represent the amount that effectively accrues directly to shareholders. Management and the Board of Directors utilize non-GAAP measures as follows: • Preparation of Regions' operating budgets • Monthly financial performance reporting • Monthly close-out reporting of consolidated results (management only) • Presentation to investors of company performance • Metrics for incentive compensation Non-GAAP Information

29 Non-GAAP Reconciliation Adjusted Net Charge-Offs and Ratio For the Quarter Ended ($ amounts in millions) 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 Net loan charge-offs (GAAP) $ 101 $ 121 $ 132 $ 101 $ 81 Less: charge-offs associated with the sale of loans — — 35 — — Adjusted net loan charge-offs (non-GAAP) $ 101 $ 121 $ 97 $ 101 $ 81 Net loan charge-offs as a % of average loans, annualized (GAAP) 0.42 % 0.50 % 0.54 % 0.40 % 0.33 % Adjusted net loan charge-offs as a % of average loans, annualized (non-GAAP) 0.42 % 0.50 % 0.39 % 0.40 % 0.33 %

30 Non-GAAP Reconciliation Pre-tax Pre-Provision Income (PPI) Quarter Ended ($ amounts in millions) 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 2Q24 vs. 1Q24 2Q24 vs. 2Q23 Net income available to common shareholders (GAAP) $ 477 $ 343 $ 367 $ 465 $ 556 $ 134 39.1 % $ (79) (14.2) % Preferred dividends (GAAP) 24 25 24 25 25 (1) (4.0) % (1) (4.0) % Income tax expense (GAAP) 124 96 80 129 147 28 29.2 % (23) (15.6) % Income before income taxes (GAAP) 625 464 471 619 728 161 34.7 % (103) (14.1) % Provision for credit losses (GAAP) 102 152 155 145 118 (50) (32.9) % (16) (13.6) % Pre-tax pre-provision income (non-GAAP) 727 616 626 764 846 111 18.0 % (119) (14.1) % Other adjustments: Securities (gains) losses, net 50 50 2 1 — — — % 50 NM Leveraged lease termination gains, net — — (1) — — — NM — NM FDIC special assessment 4 18 119 — — (14) (77.8) % 4 NM Salaries and employee benefits—severance charges 4 13 28 3 — (9) (69.2) % 4 NM Branch consolidation, property and equipment charges 1 1 3 1 1 — — % — — % Early extinguishment of debt — — (4) — — — NM — NM Other miscellaneous expenses (37) — — — — (37) NM (37) NM Professional, legal and regulatory expenses — 2 1 — — (2) (100.0) % — NM Total other adjustments 22 84 148 5 1 (62) (73.8) % 21 NM Adjusted pre-tax pre-provision income (non-GAAP) $ 749 $ 700 $ 774 $ 769 $ 847 $ 49 7.0 % $ (98) (11.6) % NM - Not Meaningful

31 Non-GAAP Reconciliation NII, non-interest income/expense, and efficiency ratio NM - Not Meaningful Quarter Ended ($ amounts in millions) 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 2Q24 vs. 1Q24 2Q24 vs. 2Q23 Non-interest expense (GAAP) A $ 1,004 $ 1,131 $ 1,185 $ 1,093 $ 1,111 $ (127) (11.2) % $ (107) (9.6) % Adjustments: FDIC special assessment (4) (18) (119) — — 14 77.8 % (4) NM Branch consolidation, property and equipment charges (1) (1) (3) (1) (1) — — % — — % Salary and employee benefits—severance charges (4) (13) (28) (3) — 9 69.2 % (4) NM Early extinguishment of debt — — 4 — — — NM — NM Professional, legal and regulatory expenses — (2) (1) — — 2 100.0 % — NM Other miscellaneous expenses 37 — — — — 37 NM 37 NM Adjusted non-interest expense (non-GAAP) B $ 1,032 $ 1,097 $ 1,038 $ 1,089 $ 1,110 $ (65) (5.9) % $ (78) (7.0) % Net interest income (GAAP) C $ 1,186 $ 1,184 $ 1,231 $ 1,291 $ 1,381 $ 2 0.2 % $ (195) (14.1) % Taxable-equivalent adjustment 12 13 13 13 12 (1) (7.7) % — — % Net interest income, taxable-equivalent basis D $ 1,198 $ 1,197 $ 1,244 $ 1,304 $ 1,393 $ 1 0.1 % $ (195) (14.0) % Non-interest income (GAAP) E 545 563 580 566 576 (18) (3.2) % (31) (5.4) % Adjustments: Securities (gains) losses, net 50 50 2 1 — — — % 50 NM Leveraged lease termination gains — — (1) — — — NM — NM Adjusted non-interest income (non-GAAP) F $ 595 $ 613 $ 581 $ 567 $ 576 (18) (2.9) % $ 19 3.3 % Total revenue C+E=G $ 1,731 $ 1,747 $ 1,811 $ 1,857 $ 1,957 $ (16) (0.9) % $ (226) (11.5) % Adjusted total revenue (non-GAAP) C+F=H $ 1,781 $ 1,797 $ 1,812 $ 1,858 $ 1,957 $ (16) (0.9) % $ (176) (9.0) % Total revenue, taxable-equivalent basis D+E=I $ 1,743 $ 1,760 $ 1,824 $ 1,870 $ 1,969 $ (17) (1.0) % $ (226) (11.5) % Adjusted total revenue, taxable-equivalent basis (non- GAAP) D+F=J $ 1,793 $ 1,810 $ 1,825 $ 1,871 $ 1,969 $ (17) (0.9) % $ (176) (8.9) % Efficiency ratio (GAAP) A/I 57.6 % 64.3 % 65.0 % 58.5 % 56.4 % Adjusted efficiency ratio (non-GAAP) B/J 57.6 % 60.6 % 56.9 % 58.2 % 56.4 % Fee income ratio (GAAP) E/I 31.3 % 32.0 % 31.8 % 30.3 % 29.3 % Adjusted fee income ratio (non-GAAP) F/J 33.2 % 33.9 % 31.8 % 30.3 % 29.3 %

32 Non-GAAP Reconciliation Non-Interest Expense Twelve Months Ended December 31 ($ amounts in millions) 2023 2022 2021 2020 2019 2018 2017 2016 Non-interest expense (GAAP) $ 4,416 $ 4,068 $ 3,747 $ 3,643 $ 3,489 $ 3,570 $ 3,491 $ 3,483 Adjustments: FDIC special assessment (119) — — — — — — — Contribution to Regions Financial Corporation foundation — — (3) (10) — (60) (40) — Professional, legal and regulatory expenses (1) (179) (15) (7) — — — (3) Branch consolidation, property and equipment charges (7) (3) (5) (31) (25) (11) (22) (58) Expenses associated with residential mortgage loan sale — — — — — (4) — — Early extinguishment of debt 4 — (20) (22) (16) — — (14) Salary and employee benefits—severance charges (31) — (6) (31) (5) (61) (10) (21) Acquisition expense — — — (1) — — — — Adjusted non-interest expense (non-GAAP) $ 4,262 $ 3,886 $ 3,698 $ 3,541 $ 3,443 $ 3,434 $ 3,419 $ 3,387

33 Quarter Ended ($ amounts in millions) 6/30/2024 3/31/2024 12/31/2023 9/30/2023 ADJUSTED CET1 RATIO Common Equity Tier 1(1) A $ 13,093 $ 12,913 $ 12,976 $ 13,056 Adjustments: AOCI gain (loss) on securities(2) (2,298) (2,264) (2,064) (3,084) AOCI gain (loss) on defined benefit pension plans and other post employment benefits (443) (447) (451) (403) Adjusted Common Equity Tier 1 (non-GAAP) B $ 10,352 $ 10,202 $ 10,461 $ 9,569 Total risk-weighted assets(1) C $ 125,725 $ 125,271 $ 126,475 $ 126,900 CET1 ratio(1)(3) A/C 10.4 % 10.3 % 10.3 % 10.3 % Adjusted CET1 ratio (non-GAAP)(1)(3) B/C 8.2 % 8.1 % 8.3 % 7.5 % Non-GAAP Reconciliation Adjusted CET1- inclusive of AOCI(4) (1) Common equity as well as Total risk-weighted assets are estimated. (2) Represents AOCI on AFS and HTM securities (3) Amounts calculated based upon whole dollar values (4) Consistent with the proposed Basel III Endgame rules, AOCI for CF hedges remains excluded.

34 As of and for Quarter Ended ($ amounts in millions, except per share data) 6/30/2024 3/31/2024 12/31/2023 9/30/2023 6/30/2023 TANGIBLE COMMON RATIOS Shareholders’ equity (GAAP) A $ 17,169 $ 17,044 $ 17,429 $ 16,100 $ 16,639 Less: Preferred stock (GAAP) 1,659 1,659 1,659 1,659 1,659 Intangible assets (GAAP) 5,920 5,929 5,938 5,949 5,959 Deferred tax liability related to intangibles (GAAP) (119) (114) (112) (108) (106) Tangible common shareholders’ equity (non-GAAP) B $ 9,709 $ 9,570 $ 9,944 $ 8,600 $ 9,127 Total assets (GAAP) C $ 154,052 $ 154,909 $ 152,194 $ 153,624 $ 155,656 Less: Intangible assets (GAAP) 5,920 5,929 5,938 5,949 5,959 Deferred tax liability related to intangibles (GAAP) (119) (114) (112) (108) (106) Tangible assets (non-GAAP) D $ 148,251 $ 149,094 $ 146,368 $ 147,783 $ 149,803 Shares outstanding—end of quarter E 915 918 924 939 939 Total equity to total assets (GAAP) A/C 11.14 % 11.00 % 11.45 % 10.48 % 10.69 % Tangible common shareholders’ equity to tangible assets (non-GAAP) B/D 6.55 % 6.42 % 6.79 % 5.82 % 6.09 % Tangible common book value per share (non-GAAP) B/E $ 10.61 $ 10.42 $ 10.77 $ 9.16 $ 9.72 Non-GAAP Reconciliation Tangible Common Ratios

35 Forward-Looking Statements This presentation may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. 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. 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. 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 interest rates and unemployment rates, inflation, 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 businesses and our financial results and conditions. • Changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets (such as our portfolio of investment securities) and obligations, as well as the availability and cost of capital and liquidity. • Volatility and uncertainty about the direction of interest rates and the timing of any changes, which may lead to increased costs for businesses and consumers and potentially contribute to poor business and economic conditions generally. • 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 declining interest rates, and the related acceleration of premium amortization on those securities. • 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. • Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, or the need to price interest-bearing deposits higher due to competitive forces. Either of these activities could increase our funding costs. • Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets. • The loss of value of our investment portfolio could negatively impact market perceptions of us. • 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. • The effects of social media on market perceptions of us and banks generally. • Market replacement of LIBOR and the related effect on our legacy LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans. • 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. • Volatility in the financial services industry (including failures or rumors of failures of other depository institutions), along with actions taken by governmental agencies to address such turmoil, could affect the ability of depository institutions, including us, to attract and retain depositors and to borrow or raise capital. • Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of which possess greater financial resources than we do or are subject to different regulatory standards than we are. Forward-Looking Statements

36 • 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. • 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 and risks related to such acquisitions, including that the expected synergies, cost savings and other financial or other benefits may not be realized within expected timeframes, or might be less than projected; and difficulties in integrating acquired businesses. • The success of our marketing efforts in attracting and retaining customers. • Our ability to achieve our expense management initiatives. • 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 the ability of those borrowers to service any loans outstanding to them and/or reduce demand for loans in those industries. • The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses. • Fraud, theft or other misconduct conducted by external parties, including our customers and business partners, or by our employees. • 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 inability 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. • Our ability to identify and address operational risks associated with the introduction of or changes to products, services, or delivery platforms. • 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. • 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. • 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. • 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. • Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, such as changes to debit card interchange fees, special FDIC assessments, any new long-term debt requirements, 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. Forward-Looking Statements (continued)

37 • 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. • 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. • Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders. • 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 laws and exclusive forum provision in our certificate of incorporation and bylaws. • 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. • 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. • 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 effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes and environmental damage (especially 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. • The impact of pandemics on our businesses, operations and financial results and conditions. The duration and severity of any pandemic as well as government actions or other restrictions in connection with such events 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. • 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” in Regions’ Annual Report on Form 10-K for the year ended December 31, 2023 and in Regions’ subsequent filings with the SEC. 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. Forward-Looking Statements (continued)

XML

Document and Entity Information	Jul. 19, 2024
Entity Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 19, 2024
Entity Registrant Name	REGIONS FINANCIAL CORPORATION
Entity Central Index Key	0001281761
Amendment Flag	false
Entity Incorporation, State or Country Code	DE
Entity File Number	001-34034
Entity Tax Identification Number	63-0589368
Entity Address, Address Line One	1900 Fifth Avenue North
Entity Address, City or Town	Birmingham
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	35203
City Area Code	800
Local Phone Number	734-4667
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock, $.01 par value
Trading Symbol	RF
Security Exchange Name	NYSE
Series B Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B
Trading Symbol	RF PRB
Security Exchange Name	NYSE
Series C Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series C
Trading Symbol	RF PRC
Security Exchange Name	NYSE
Series E Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	4.45% Non-Cumulative Perpetual Preferred Stock, Series E
Trading Symbol	RF PRE
Security Exchange Name	NYSE