Financial services company Regions Financial Corp. (NYSE: RF) reported higher net income and flat revenues for the third quarter of 2023.
- Third-quarter net income rose sharply to $465 million or $0.49 per share from $404 million or $0.43 per share in the year-ago quarter
- Net interest income was $1.29 billion in Q3, up 2.3% from $1.26 billion reported in the year-ago quarter
- Third-quarter net interest margin rose to $3.73% from 3.53% in the same period of 2022
- Total revenue was broadly unchanged year-over-year at $1.86 billion in the September quarter
- Total deposits declined 7.6% annually to $125.2 billion during the three-month period; loans rose 4.3% to $98.8 billion
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