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BIRMINGHAM, Ala. - Regions Financial Corporation (NYSE:RF) reported first quarter earnings that beat analyst expectations on Thursday, though revenue fell short of estimates.
Regions’ stock was up 0.63% in pre-market trading following the earnings release.
Regions posted adjusted earnings per share of $0.54 for the first quarter, exceeding the analyst consensus of $0.51. However, revenue of $1.78 billion missed expectations of $1.83 billion.
The Birmingham-based bank saw net income available to common shareholders rise 36% year-over-year to $465 million. Adjusted net income increased 20% to $487 million compared to the first quarter of 2024.
Total (EPA:TTEF) revenue grew 2% YoY to $1.8 billion, driven by a 0.8% increase in net interest income to $1.19 billion. Non-interest income rose 4.8% to $590 million.
"First quarter results reflect our unwavering commitment to our longstanding priorities of soundness, profitability and growth and our continued focus on successfully executing our strategic plan," said John Turner, Chairman, President and CEO of Regions Financial Corp.
The bank’s net interest margin declined 3 basis points from the previous quarter to 3.52%. Total deposits increased 2.6% from the end of 2024 to $131 billion.
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