Categories Earnings, Finance

Earnings Summary: Regions Financial Corp. (RF) reports Q1 2024 results

Regions Financial Corp. (NYSE: RF) reported a decline in net income and revenues for the first quarter of 2024. Net interest income decreased by about 16%

  • Net income available to common shareholders declined to $343 million or $0.37 per share in Q1 from $588 million or $0.62 per share last year
  • The company reported $1.75 billion in total revenue during the quarter, compared to $1.95 billion in Q1 2023
  • Q1 net interest income decreased to $1.18 billion from $1.42 billion in the prior-year period
  • Net interest margin was 3.55% in the March quarter, compared to $4.22% a year earlier
  • Total non-interest income came in at $563 million during the three months, vs. $534 million in the same period last year
  • Total loans were $97.42 billion in Q1, vs. $97.28 billion last year; total deposits declined to $127.1 billion from $129.0 billion a year earlier

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