Regions Financial Corp. - RF STOCK NEWS

Regions Bank has appointed Dan Massey as Chief Enterprise Operations and Technology Officer, effective May 9. With nearly 30 years of experience in financial services and technology, Massey will report directly to John Turner, President and CEO of Regions Financial Corp. His role involves overseeing enterprise operations, application development, and technology initiatives aimed at enhancing customer experience. This strategic move aligns with Regions' focus on leveraging technology to improve service delivery and meet evolving customer needs.

Regions Financial Corp. (NYSE:RF) released its 2021 Community Engagement Report, showcasing efforts to promote inclusive prosperity.

Key initiatives include a $4.4 billion investment in community development and $8 million allocated for affordable housing through socially responsible funds.

The report also highlights educational support for Historically Black Colleges and Universities and financial wellness programs that reached 1.4 million individuals.

Regions Bank emphasizes its commitment to diversity, equity, and inclusion, surpassing a $12 million investment goal ahead of schedule.

Regions Financial Corp. (NYSE:RF) reported a net income of $524 million for Q1 2022, with diluted earnings per share of $0.55. Total revenue reached $1.6 billion, a 5% increase in net interest income attributed to higher interest rates and growth in loans and deposits. The company's credit profile remains strong, reflecting a commitment to expense management and customer relationship growth. Notably, the average loans and deposits recorded increases, with customer low-cost deposits rising by 12.8% year-over-year. Regions' capital ratios were maintained well above regulatory requirements.

Regions Financial Corporation (NYSE: RF) has declared cash dividends on its common and preferred shares. A dividend of $0.17 per share on common stock will be payable on July 1, 2022. Preferred stock dividends include $15.9375 for Series B, $14.25 for Series C, $1,437.50 for Series D, and $11.125 for Series E, all scheduled for payment in May and June 2022. Additionally, Regions authorized a $2.5 billion stock repurchase plan through 2024, enhancing shareholder value.

Regions Bank has launched a new online platform offering money-management courses as part of its Regions Next Step® financial wellness program. The platform features 28 new self-paced courses covering topics such as budgeting, saving, credit, and retirement planning. This initiative aligns with Financial Literacy Month and aims to enhance financial education for individuals and businesses. In 2021, Regions Next Step reached 1.4 million people and delivered 124,000 workshops. Resources are available to all, regardless of banking affiliation.

Regions Foundation announced $50,000 in grants to help recovery efforts in New Orleans and St. Bernard parishes following the devastating March 22 tornado. Each of the organizations Rebuilding Together New Orleans and the Salvation Army will receive $25,000. The funding aims to support immediate relief and long-term recovery for affected communities. Regions Foundation emphasizes its commitment to restoring homes and revitalizing neighborhoods that suffered extensive damage from the storm, described as the strongest in the area's history.

Regions Financial Corp. (NYSE:RF) will release its first quarter 2022 financial results on April 22, 2022, before the market opens. A live audio webcast of the discussion will take place at 10 a.m. ET on the same day. Shareholders can find related materials on Regions’ Investor Relations website. The company, with $163 billion in assets, is among the largest full-service banking providers in the U.S., delivering consumer and commercial banking services across multiple states.