Regions Financial Corp. - RF STOCK NEWS

Regions Bank has been named to the 2024 Disability Equality Index for the fourth consecutive year, recognizing it as a 'Best Place to Work for Disability Inclusion'. This distinction highlights Regions' commitment to creating an inclusive workplace and providing accessible banking services. Clara Green, head of Diversity, Equity and Inclusion, emphasized the importance of serving communities while considering the needs of all individuals.

The Disability Equality Index, a joint initiative of the American Association of People with Disabilities and Disability:IN, is a leading benchmarking tool for corporate disability inclusion policies. Regions' commitment extends to customers through accessible products and services, including the introduction of MagnusCards in 2024, designed for neurodivergent individuals. The bank also invests in programs supporting accessible housing, independent living, and workforce training for people with disabilities.

Regions Bank has announced significant leadership changes in its Corporate Banking Group. Ronnie Smith, the current head, will retire at the end of the year after over 40 years of service. Brian Willman, currently head of Commercial Banking, will succeed Smith as head of the Corporate Banking Group. Nikki Stephenson, head of Credit Products, will be elevated to head of Commercial Banking.

Smith, who began his career in 1981, has been praised for his dedication to clients and communities. Willman, a 15-year veteran of Regions, will report directly to CEO John Turner. Stephenson, with over 16 years of experience, will report to Willman. The bank emphasizes its commitment to customized services and a collaborative approach in serving businesses and industries.

Regions Financial Corp. (NYSE:RF) has announced its participation in the Barclays 2024 Global Financial Services Conference. The company's segment is scheduled for Wednesday, Sept. 11, at approximately 9:45 a.m. ET. Executives will engage in a fireside chat-style discussion during the event.

Interested parties can access the live, listen-only webcast of the discussion through Regions' Investor Relations page at https://ir.regions.com. For those unable to attend the live session, a replay will be made available on the same page following the event, ensuring widespread access to the company's insights and commentary.

Regions Financial (NYSE:RF) has announced the redemption of all 20,000,000 outstanding depositary shares (NYSE: RFPrB) representing interests in its 6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series B. The redemption is scheduled for September 16, 2024, at a price of $25 per Depositary Share, equivalent to $1,000 per share of Series B Preferred Stock. After this date, no Depositary Shares or Series B Preferred Stock will remain outstanding, and dividends will cease to accrue. The regular quarterly dividend will be paid separately to record holders prior to the redemption. Investors holding these shares through banks or brokers should contact their financial institutions for information on obtaining the redemption price.

Regions Financial (NYSE:RF) has announced a cash dividend for its newly-issued Series F Preferred Stock. The dividend amount is set at $8.8806 per share, which is equivalent to approximately $0.222014 per depositary share. This dividend will be payable on Sept. 16, 2024, to stockholders of record as of the close of business on Sept. 3, 2024. The declaration was made by the company's Board of Directors, demonstrating Regions Financial's commitment to providing returns to its preferred stockholders.

Regions Bank has been named to the 2024 Disability Equality Index for the fourth consecutive year, recognizing it as a 'Best Place to Work for Disability Inclusion'. This distinction highlights Regions' commitment to creating an inclusive workplace and providing accessible banking services. The bank has introduced MagnusCards® in 2024, a solution designed to assist neurodivergent customers with everyday banking tasks.

The Disability Equality Index, now in its 10th year, is a joint initiative of the American Association of People with Disabilities and Disability:IN. It serves as a benchmark for corporate disability inclusion policies and programs, used by over 70% of U.S. Fortune 100 companies. Regions Bank's commitment extends to supporting associates, customers, and communities through inclusive practices, accessible products, and investments in programs that enhance the lives of people with disabilities.

Regions Bank has been ranked first among regional banks in the J.D. Power 2024 U.S. Online Banking Satisfaction Study℠. This marks the fourth time in five years that Regions has received this recognition. The study measures overall satisfaction with online banking features based on four key factors: navigation, speed, visual appeal, and information/content.

Dan Massey, Chief Enterprise Operations and Technology Officer for Regions, emphasized the bank's commitment to providing innovative and intuitive banking solutions across both physical and digital channels. Kate Danella, head of Consumer Banking, highlighted the importance of a strong digital presence alongside the bank's branch network to serve customers in fast-growing regions across the Southeast, Texas, and parts of the Midwest.

Regions Financial Corp. (NYSE:RF) reported second quarter 2024 earnings of $477 million, with earnings per diluted share of $0.52. The company's total revenue was $1.7 billion, including $727 million in reported pre-tax pre-provision income and $749 million in adjusted pre-tax pre-provision income. Notable items in Q2 include an addition to the FDIC special assessment accrual, severance-related charges, a contingent reserve release, and securities repositioning impact.

Key financial highlights:

• Net interest income: $1.186 billion
• Non-interest income: $545 million
• Non-interest expense: $1.004 billion
• Efficiency ratio: 57.6%
• Average loans: $97.281 billion
• Average deposits: $126.901 billion
• Common Equity Tier 1 ratio: 10.4%

The company maintained solid capital positions and favorable credit trends, positioning itself for consistent, sustainable results.

Regions Financial (NYSE:RF) has announced an increase in its quarterly common stock dividend and declared dividends on preferred stock. The common stock dividend has been raised to $0.25 per share, payable on Oct. 1, 2024, to stockholders of record as of Sept. 3, 2024. This represents a $0.01 increase over the previous quarter. The company also declared dividends on its Series B, C, D, and E preferred shares, with payment dates in August and September 2024. These dividends range from $11.125 to $1,437.50 per share, depending on the series.