Regions Financial Corporation (NYSE: RF), a full-service provider of consumer and commercial banking, wealth management, and mortgage products and services, reported earnings for the first quarter of 2023.
- First-quarter net income available to common shareholders increased to $588 million or $0.62 per share from $524 million or $0.55 per share in the same period of last year
- Total revenues advanced 22% year-over-year to $1.95 billion from $1.60 billion last year
- Net interest income rose 40% annually to $1.42 billion; net interest margin increased sharply to 4.22% from $2.85%
- The tangible common book value per share was $10.01 at the end of the quarter, down from last year’s $10.06
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