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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
  FORM 8-K
 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): July 23, 2021
 REGIONS FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
Delaware 001-34034 63-0589368
(State or other jurisdiction
of incorporation)		 (Commission
File Number)		 (IRS Employer
Identification No.)
1900 Fifth Avenue North
Birmingham, Alabama 35203
(Address, including zip code, of principal executive office)
Registrant’s telephone number, including area code: (800) 734-4667
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).                                                         Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.¨
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, $.01 par valueRFNew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
6.375% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series BRF PRBNew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
5.700% Fixed-to-Floating Rate Non-Cumulative Perpetual Preferred Stock, Series CRF PRCNew York Stock Exchange
Depositary Shares, each representing a 1/40th Interest in a Share of
4.45% Non-Cumulative Perpetual Preferred Stock, Series ERF PRENew York Stock Exchange


Item 2.02    Results of Operations and Financial Condition.
Item 7.01    Regulation FD Disclosure.
    
On July 23, 2021, Regions Financial Corporation (“Regions”) issued a press release announcing its preliminary results of operations for the quarter ended June 30, 2021. A copy of the press release is attached hereto as Exhibit 99.1. Supplemental financial information for the quarter ended June 30, 2021 is attached as Exhibit 99.2. Executives from Regions will review the results via a live audio webcast at 10:00 a.m. Eastern time on July 23, 2021. A copy of a visual presentation that will be a part of that review is attached as Exhibit 99.3. All of the attached exhibits are incorporated herein by reference and may also be found on Regions’ website at www.regions.com. An archived recording of the webcast will be available for a limited time on the Investor Relations page of that website.
    
In accordance with general instruction B.2 of Form 8-K, this information is being furnished and shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.
Description of Exhibit
99.1  
99.2  
99.3  
104Cover Page Interactive Data File (embedded within the Inline XBRL document).






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
                                
REGIONS FINANCIAL CORPORATION
By: /s/ Hardie B. Kimbrough, Jr.
Name: Hardie B. Kimbrough, Jr.
Title: Executive Vice President and Controller (Chief Accounting Officer and Authorized Officer)
Date: July 23, 2021



newsrelease_logoa78a.jpgExhibit 99.1
  
Media Contact:    Investor Relations Contact:
Jeremy King     Dana Nolan
(205) 264-4551    (205) 264-7040

Strategy. Momentum. Results. Regions reports second quarter 2021 earnings of $748 million, earnings per share of $0.77
Delivers solid revenue and pre-tax pre-provision income(1).

BIRMINGHAM, Ala. - (BUSINESS WIRE) - July 23, 2021 - Regions Financial Corporation (NYSE:RF) today announced earnings for the second quarter ended June 30, 2021. The company reported net income available to common shareholders of $748 million and earnings per diluted share of $0.77. Compared to the second quarter of 2020, total revenue grew 2 percent while pre-tax pre-provision income(1) increased 10 percent. Adjusted revenue(1) increased 1 percent while adjusted pre-tax pre-provision income(1) increased 3 percent. The company also generated year-to-date positive operating leverage of 3.9 percent on a reported basis and 1.8 percent on an adjusted basis(1) versus the comparable prior-year period.

“Our teams delivered solid performance throughout the second quarter, and as a result of our strategic planning and key investments, we are well positioned to generate long-term, sustainable growth over time,” said John Turner, President and CEO of Regions Financial Corporation. “Regions operates in highly attractive markets that are benefiting from favorable population trends and strong employment opportunities. In each of these markets, our bankers are serving new and long-term customers through customized financial insights, enhanced technology and a commitment to superior service. We have taken several steps – adding talented bankers, investing in service and delivery channels, and enhancing our capabilities through our bolt-on acquisition strategy – to build on our momentum and create greater value for customers, communities, and shareholders over time.”

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Key factors positioning Regions for continued growth include:



1) Digital investments are generating returns.
•Consumers are increasingly leveraging Regions' online and mobile banking enhancements with the bank generating 9% year-over-year growth in active digital banking users and 13% year-over-year growth in active mobile banking users.
•Digitized sales and capabilities in the consumer bank are delivering greater value for customers and Regions' operations.
•Artificial intelligence is creating the bank of tomorrow, enhancing and evolving the ways Regions serves customers representing all segments of the company.
2) Business segments are proving resilient.
•Key talent hires of client-facing associates, particularly in growth markets, position Regions to grow further amid long-term economic recovery from the COVID-19 pandemic.
•A consistently modernized branch network, including in growth markets such as metro Houston, Orlando, and Atlanta, combines in-person financial consultation with enhanced technology, supporting further account growth while creating greater efficiencies across Regions' retail-banking footprint.
3) Strategic decisions are delivering long-term results.
•Regions has identified high-growth markets in its existing footprint that are benefiting from population and business growth, such as Florida, Texas, and Tennessee, which further position Regions to reach more consumers and businesses with high-value financial services.
•Regions' credit quality continues to grow stronger, demonstrating resiliency and prudent risk management amid evolving economic conditions.
•Regions issued its inaugural Task Force on Climate-related Financial Disclosures ("TCFD") Report demonstrating how the company is actively working to address risks and opportunities related to climate change through sustainable business practices.





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SUMMARY OF SECOND QUARTER 2021 RESULTS:
Quarter Ended
(amounts in millions, except per share data)6/30/20213/31/20216/30/2020
Net income$790 $642 $(214)
Preferred dividends and other*42 28 23 
Net income available to common shareholders$748 $614 $(237)
Weighted-average diluted shares outstanding965 968 960 
Actual shares outstanding—end of period955 961 960 
Diluted earnings per common share$0.77 $0.63 $(0.25)
Selected items impacting earnings:
Pre-tax adjusted items(1):
Adjustments to non-interest expense(1)
$(3)$(10)$(26)
Adjustments to non-interest income(1)
19 4 1 
Total pre-tax adjusted items(1)
$16 $(6)$(25)
After-tax preferred stock redemption expense(1)*
$(13)$— $— 
Diluted EPS impact**$— $— $(0.02)
Pre-tax additional selected items***:
CECL provision less than (in excess of) net charge-offs$384 $225 $(700)
Capital markets income - CVA/DVA(4)11 34 
MSR net hedge performance(6)7 2 
PPP loan interest income****43 40 18 
COVID-19 related expenses— — (19)
*      The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed.
**        Based on income taxes at an approximate 25% incremental rate. Second quarter of 2021 bank-owned life insurance claim is tax free.
***     Items impacting results or trends during the quarter, but are not considered non-GAAP adjustments. These items generally include market-related measures, impacts of new accounting guidance, or event driven actions.
**** Interest income for PPP loans includes estimated funding costs.

Highlights for the quarter
Compared to the first quarter of 2021, total revenue decreased approximately 2 percent on a reported basis and 3 percent on an adjusted basis(1), driven primarily by a reduction in non-interest income. Net interest income remained relatively stable, while reported net interest margin decreased 21 basis points. Adjusted net interest margin(1) decreased 9 basis points. Non-interest income decreased 3 percent on a reported basis and 6 percent on an adjusted basis(1) driven primarily by declines in both capital markets and mortgage income. Wealth management income and card and ATM fees, however, increased 5 percent and 11 percent, respectively. Service charges income remained below pre-pandemic levels but increased 4 percent compared to the first quarter. Non-interest expense decreased 3 percent on both a reported and adjusted basis(1), driven by decreases in most
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categories partially offset by increased marketing expense. The company's second quarter efficiency ratio improved to 56.4 percent on a reported basis while increasing modestly to 56.9 percent on an adjusted basis(1). Pre-tax pre-provision income(1) increased 1 percent on a reported basis but decreased 3 percent on an adjusted basis(1) compared to the first quarter of 2021.

Compared to the first quarter of 2021, annualized net charge-offs decreased 17 basis points to 0.23 percent of average loans, while total non-performing loans, total delinquencies and business services criticized loans also improved. The allowance for credit losses decreased 44 basis points to 2.00 percent of total loans, representing 253 percent of non-performing loans, excluding loans held for sale. Excluding PPP loans, which are fully government guaranteed, the allowance for credit losses was 2.07 percent(1) of total loans. The impact of charge-offs previously provided for, continued improvements in economic outlook due to vaccine deployment, as well as lower expectations of future credit losses due to the benefit of government stimulus programs led to a reduction in the allowance for credit losses in the quarter. The overall allowance reduction resulted in a net $337 million benefit to the credit loss provision during the quarter.

Non-GAAP adjusted items(1) impacting the company's earnings are identified to assist investors in analyzing Regions' operating results on the same basis as that applied by management and provide a basis to predict future performance. Non-GAAP adjusted items(1) in the current quarter reflect, among other items, an $18 million claim benefit in bank-owned life insurance partially offset by $2 million of severance charges within salaries and benefits. In addition, second quarter adjustments include $13 million of Series A preferred stock redemption expense.

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Total revenue
Quarter Ended
($ amounts in millions)6/30/20213/31/20216/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Net interest income$963 $967 $972 $(4)(0.4)%$(9)(0.9)%
Taxable equivalent adjustment12 11 13 1 9.1 %(1)(7.7)%
Net interest income, taxable equivalent basis$975 $978 $985 $(3)(0.3)%$(10)(1.0)%
Net interest margin (FTE)2.81 %3.02 %3.19 %
Adjusted net interest margin (FTE) (non-GAAP)(1)
3.31 %3.40 %3.36 %
Non-interest income:
Service charges on deposit accounts$163 $157 $131 6 3.8 %32 24.4 %
Card and ATM fees128 115 101 13 11.3 %27 26.7 %
Wealth management income96 91 79 5 5.5 %17 21.5 %
Capital markets income61 100 95 (39)(39.0)%(34)(35.8)%
Mortgage income53 90 82 (37)(41.1)%(29)(35.4)%
Commercial credit fee income23 22 17 1 4.5 %6 35.3 %
Bank-owned life insurance33 17 18 16 94.1 %15 83.3 %
Securities gains (losses), net1 1 1 — — %— — %
Market value adjustments on employee benefit assets*8 7 16 1 14.3 %(8)(50.0)%
Gains on equity investment**— 3 — (3)(100.0)— NM
Other53 38 33 15 39.5 %20 60.6 %
Non-interest income$619 $641 $573 $(22)(3.4)%$46 8.0 %
Total revenue$1,582 $1,608 $1,545 $(26)(1.6)%$37 2.4 %
Adjusted total revenue (non-GAAP)(1)
$1,563 $1,604 $1,544 $(41)(2.6)%$19 1.2 %
NM - Not Meaningful
* These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.
** The first quarter of 2021 amount reflects a gain on sale of an equity investment.

Total revenue of approximately $1.6 billion decreased 2 percent on a reported basis and 3 percent on an adjusted basis(1) compared to the first quarter of 2021. Net interest income remained relatively stable but was negatively impacted by a lower mix of higher-yielding consumer loans. The company offset pressure on asset yields from the low interest rate environment through its interest rate hedging program, a continued focus on lower deposit costs and active cash management strategies. The company also benefited from the addition of $2 billion of securities purchases during the quarter. These additional securities purchases benefited net interest income and reported net interest margin; however, they reduce adjusted net interest margin. Strong deposit growth trends continued, and cash balances rose to new record levels, also negatively impacting net interest margin. Excluding the impact of PPP interest income and excess cash balances held at the Federal Reserve, the company's adjusted net interest margin(1) decreased 9 basis points to 3.31 percent.

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Non-interest income decreased 3 percent on a reported basis and 6 percent on an adjusted basis(1), compared to the first quarter of 2021. Decreases in mortgage and capital markets income were partially offset by increases in most other categories. Mortgage income decreased 41 percent primarily due to gain on sale compression and hedge performance. Capital markets decreased 39 percent compared to an exceptionally strong first quarter of 2021. Wealth management income increased 5 percent reflecting higher sales volumes and improved market values. Reflecting increased card spend and transaction levels, service charges and card and ATM fees increased 4 percent and 11 percent, respectively. Additionally, bank-owned life insurance increased to $33 million during the quarter and included the benefit of a significant claim.

Non-interest expense
Quarter Ended
($ amounts in millions)6/30/20213/31/20216/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Salaries and employee benefits$532 $546 $527 $(14)(2.6)%$5 0.9 %
Equipment and software expense89 90 86 (1)(1.1)%3 3.5 %
Net occupancy expense75 77 76 (2)(2.6)%(1)(1.3)%
Outside services39 38 44 1 2.6 %(5)(11.4)%
Professional, legal and regulatory expenses15 29 28 (14)(48.3)%(13)(46.4)%
Marketing29 22 22 7 31.8 %7 31.8 %
FDIC insurance assessments11 10 15 1 10.0 %(4)(26.7)%
Credit/checkcard expenses17 14 12 3 21.4 %5 41.7 %
Branch consolidation, property and equipment charges— 5 10 (5)(100.0)%(10)(100.0)%
Visa class B shares expense6 4 9 2 50.0 %(3)(33.3)%
Loss on early extinguishment of debt— — 6 — — %(6)(100.0)
Other85 93 89 (8)(8.6)%(4)(4.5)%
Total non-interest expense $898 $928 $924 $(30)(3.2)%$(26)(2.8)%
Total adjusted non-interest expense(1)
$895 $918 $898 $(23)(2.5)%$(3)(0.3)%

NM - Not Meaningful

Non-interest expense decreased 3 percent on both a reported and adjusted basis(1) compared to the first quarter of 2021. Salaries and benefits decreased 3 percent driven primarily by a reduction in production-based incentives and payroll taxes partially offset by merit increases that became effective April 1st. Professional fees decreased 48 percent resulting primarily from lower legal costs. Additionally, other expenses and occupancy expense
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decreased 9 percent and 3 percent, respectively. Partially offsetting these decreases was a 32 percent increase in marketing expense driven by the timing of marketing campaigns.

The company's second quarter efficiency ratio was 56.4 percent on a reported basis and 56.9 percent on an adjusted basis(1). The effective tax rate was 22.6 percent reflecting improved pre-tax income.

Loans and Leases
Average Balances
($ amounts in millions)2Q211Q212Q202Q21 vs. 1Q212Q21 vs. 2Q20
Commercial and industrial$43,140 $42,816 $49,296 $324 0.8 %$(6,156)(12.5)%
Commercial real estate—owner-occupied5,634 5,678 5,804 (44)(0.8)%(170)(2.9)%
Investor real estate7,282 7,222 7,019 60 0.8 %263 3.7%
Business Lending56,056 55,716 62,119 340 0.6 %(6,063)(9.8)%
Residential first mortgage16,795 16,606 14,884 189 1.1 %1,911 12.8%
Home equity6,774 7,085 8,042 (311)(4.4)%(1,268)(15.8)%
Indirect—other consumer*2,174 2,352 3,111 (178)(7.6)%(937)(30.1)%
Indirect—vehicles**690 850 1,441 (160)(18.8)%(751)(52.1)%
Consumer credit card1,108 1,151 1,230 (43)(3.7)%(122)(9.9)%
Other consumer954 995 1,137 (41)(4.1)%(183)(16.1)%
Consumer Lending28,495 29,039 29,845 (544)(1.9)%(1,350)(4.5)%
Total Loans$84,551 $84,755 $91,964 $(204)(0.2)%$(7,413)(8.1)%
Adjusted Business Lending (non-GAAP)(1)
$52,293 $52,149 $58,906 144 0.3 %$(6,613)(11.2)%
Adjusted Consumer Lending (non-GAAP)(1)
26,896 27,155 26,911 (259)(1.0)%(15)(0.1)%
Adjusted Total Loans (non-GAAP)(1)
$79,189 $79,304 $85,817 $(115)(0.1)%$(6,628)(7.7)%
NM - Not meaningful.
* A portion of indirect other consumer is an exit portfolio due to the company's decision not to renew a 3rd party relationship in the fourth quarter of 2019.
** Indirect vehicles is an exit portfolio.

Average loans and leases remained stable compared to the prior quarter. Excluding the company's indirect auto and indirect-other consumer exit portfolios, and outstanding PPP loans, adjusted average loans and leases(1) also remained stable; however, adjusted ending loans and leases increased approximately $740 million or 1 percent. Adjusted average business lending(1) remained stable as growth in corporate lending across asset-based lending, healthcare, transportation, energy, and financial services was offset by declines in middle market lending. While still well below pre-pandemic levels, commercial loan line utilization levels ended the quarter modestly higher at approximately 39.6 percent. Excluding exit portfolios, adjusted average consumer lending(1) decreased 1 percent as growth in residential first mortgage was offset by declines in other categories.

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Deposits
Average Balances
($ amounts in millions)2Q211Q212Q202Q21 vs. 1Q212Q21 vs. 2Q20
Customer low-cost deposits$126,315 $117,775 $104,159 $8,540 7.3%$22,156 21.3%
Customer time deposits4,813 5,158 6,690 (345)(6.7)%(1,877)(28.1)%
Corporate treasury time deposits1 4 72 (3)(75.0)%(71)(98.6)%
Corporate treasury other deposits3 — — 3 NM3 NM
Total Deposits$131,132 $122,937 $110,921 $8,195 6.7%$20,211 18.2%
($ amounts in millions)2Q211Q212Q202Q21 vs. 1Q212Q21 vs. 2Q20
Consumer Bank Segment$78,200 $72,949 $65,722 $5,251 7.2%$12,478 19.0%
Corporate Bank Segment42,966 40,285 36,409 2,681 6.7%6,557 18.0%
Wealth Management Segment9,519 9,281 8,382 238 2.6%1,137 13.6%
Other447 422 408 25 5.9%39 9.6%
Total Deposits$131,132 $122,937 $110,921 $8,195 6.7%$20,211 18.2%


Total average deposit balances increased 7 percent to a new record high in the second quarter of 2021. All three business segments experienced deposit growth with the largest contribution within the Consumer segment reflecting the impact of government stimulus payments as well as new account growth.

Asset quality
As of and for the Quarter Ended
($ amounts in millions)6/30/20213/31/20216/30/2020
ACL/Loans, net2.00%2.44%2.68%
ALL/Loans, net1.90%2.33%2.51%
Allowance for credit losses to non-performing loans, excluding loans held for sale253%280%395%
Allowance for loan losses to non-performing loans, excluding loans held for sale240%268%370%
Provision for (benefit from) credit losses$(337)$(142)$882
Net loans charged-off$47$83$182
Net loan charge-offs as a % of average loans, annualized0.23%0.40%0.80%
Non-accrual loans, excluding loans held for sale/Loans, net0.79%0.87%0.68%
NPAs (ex. 90+ past due)/Loans, foreclosed properties, non-marketable investments and non-performing loans held for sale0.93%0.90%0.74%
NPAs (inc. 90+ past due)/Loans, foreclosed properties, non-marketable investments and non-performing loans held for sale*1.09%1.09%0.91%
Total TDRs, excluding loans held for sale$620$577$626
Total Criticized Loans—Business Services**
$3,222$3,756$4,225
* Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing.
** Business services represents the combined total of commercial and investor real estate loans.

The impact of expected charge-offs previously provided for, continued improvements in the economic outlook due to vaccine deployment, as well as lower expectations of future credit losses due to the benefit of stimulus
8

programs, resulted in a net $337 million benefit from credit losses during the second quarter of 2021. The resulting allowance for credit losses was equal to 2.00 percent of total loans and 253 percent of total non-accrual loans, excluding loans held for sale. Excluding PPP loans, which are fully government guaranteed, the allowance for credit losses amounted to 2.07 percent(1) of total loans. Annualized net charge-offs decreased 17 basis points to 0.23 percent of average loans, matching the company's lowest level in over a decade. The decrease reflects broad-based improvement across the commercial and consumer loan portfolios, as well as recoveries associated with strong collateral asset values. Total non-accrual loans, excluding loans held for sale, total delinquencies, and total business services criticized loans all improved during the quarter.
    
Capital and liquidity
As of and for Quarter Ended
6/30/20213/31/20216/30/2020
Common Equity Tier 1 ratio(2)
10.4%10.3%8.9%
Tier 1 capital ratio(2)
11.9%11.9%10.4%
Tangible common stockholders’ equity to tangible assets (non-GAAP)(1)
7.58%7.43%7.72%
Tangible common book value per share (non-GAAP)(1)*
$11.94$11.46$11.16
Loans, net of unearned income, to total deposits63.9%65.4%77.5%
* Tangible common book value per share includes the impact of quarterly earnings and changes to market value adjustments within accumulated other comprehensive income, as well as continued capital returns.
Regions maintains a solid capital position as estimated capital ratios remain well above current regulatory requirements. The Tier 1(2) and Common Equity Tier 1(2) ratios were estimated at 11.9 percent and 10.4 percent, respectively, at quarter-end.

During the second quarter, the company repurchased 8 million shares of common stock for a total of $179 million and declared $147 million in dividends to common shareholders. Earlier this week, the Board of Directors declared a 10 percent increase to the company's quarterly common stock dividend to $0.17 per share.

The company voluntarily participated in the Federal Reserve Supervisory Stress Test administered during the first half of 2021 and exceeded all minimum capital levels under the provided scenarios. As a result, Regions' preliminary Stress Capital Buffer requirement will be 2.5 percent. Regions' robust capital planning process is designed to ensure the efficient use of capital to support lending activities, business growth opportunities and appropriate shareholder returns.

(1)Non-GAAP; refer to pages 6, 7, 11, 12, 13, 15, 19, 21, 22, 23 and 26 of the financial supplement to this earnings release.
(2)Current quarter Common Equity Tier 1, and Tier 1 capital ratios are estimated.


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Conference Call
In addition to the live audio webcast at 10 a.m. ET on July 23, 2021, an archived recording of the webcast will be available at the Investor Relations page of www.regions.com following the live event. A replay of the earnings call will also be available beginning Friday, July 23, 2021, at 2:30 p.m. ET through Monday, August 23, 2021. To listen by telephone, please dial 855-859-2056, and use access code 9147309.

About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $156 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates more than 1,300 banking offices and approximately 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.

Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:
•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.
•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings.
•Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity.
•The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of the ongoing COVID-19 pandemic, which has disrupted the global economy, has and could continue to adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses. The pandemic could also result in goodwill impairment charges and the impairment of other financial and nonfinancial assets, and increase our cost of capital.
•Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in law, adverse changes in the economic environment, declining operations of the reporting unit or other factors.
•The effect of changes in tax laws, including the effect of any future interpretations of existing tax law or any enactment of new domestic tax legislation and corporate tax rates, which may impact our earnings, capital ratios and our ability to return capital to shareholders.
•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.
•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.
•Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities.
•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.
•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.
•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are.
•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.
•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.
•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including
10

as a result of the recent change in U.S. presidential administration and control of the U.S. Congress, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock or other regulatory capital instruments, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.
•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.
•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.
•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.
•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.
•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our business.
•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.
•The risks and uncertainties related to our acquisition or divestiture of businesses, including our pending acquisition of EnerBank and risks related to such acquisition including: the possibility that regulatory and other approvals and conditions are not received or satisfied on a timely basis or at all, or contain unanticipated terms and conditions; delays in closing the proposed transaction; expected synergies, cost savings and other financial or other benefits might not be realized within the expected timeframes or might be less than projected; difficulties in integrating the business; and the inability of Regions to effectively cross-sell products to EnerBank's customers.
•The success of our marketing efforts in attracting and retaining customers.
•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.
•Fraud or misconduct by our customers, employees or business partners.
•Any inaccurate or incomplete information provided to us by our customers or counterparties.
•Inability of our framework to manage risks associated with our business such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively.
•Dependence on key suppliers or vendors to obtain equipment and other supplies for our business on acceptable terms.
•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.
•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.
•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and impact of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.
•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.
•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our business and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.
•Our ability to achieve our expense management initiatives.
•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.
•The effects of a possible downgrade in the U.S. government’s sovereign credit rating or outlook, which could result in risks to us and general economic conditions that we are not able to predict.
•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.
11

•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.
•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.
•Other risks identified from time to time in reports that we file with the SEC.
•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.
•The effects of any damage to our reputation resulting from developments related to any of the items identified above.
The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2020 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 as filed with the SEC.
Further, statements about the potential effects of the COVID-19 pandemic on our businesses, operations, and financial results and conditions may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including any resurgences), actions taken by governmental authorities in response to the COVID-19 pandemic and their success, the effectiveness and degree of acceptance of any vaccines, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us.
The words "future," “anticipates,” "assumes," “intends,” “plans,” “seeks,” “believes,” "predicts," "potential," "objectives," “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” "would," “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

Use of non-GAAP financial measures
Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non-GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the fee income and efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.

The allowance for credit losses (ACL) as a percentage of total loans is an important ratio, especially during periods of economic stress. Management believes this ratio provides investors with meaningful additional information about credit loss allowance levels when the impact of SBA's Paycheck Protection Program loans, which are fully backed by the U.S. government, and any related allowance are excluded from total loans and total allowance which are the denominator and numerator, respectively, used in the ACL ratio. This adjusted ACL ratio represents a non-GAAP financial measure.

Tangible common stockholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity measure. Because tangible common stockholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders.
Management and the Board of Directors utilize non-GAAP measures as follows:
•Preparation of Regions' operating budgets
•Monthly financial performance reporting
•Monthly close-out reporting of consolidated results (management only)
•Presentation to investors of company performance
•Metrics for incentive compensation
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Exhibit 99.2

regionslogob22a.jpg
Regions Financial Corporation and Subsidiaries
Financial Supplement
Second Quarter 2021





Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release

Table of Contents
 
   Page
Financial Highlights  
Selected Ratios and Other Information  
Consolidated Statements of Operations  
Consolidated Average Daily Balances and Yield / Rate Analysis  
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI  
Non-Interest Income, Mortgage Income, Wealth Management Income and Capital Markets Income  
Non-Interest Expense  
Reconciliation to GAAP Financial Measures  
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income / Expense, Adjusted Operating Leverage Ratios, and Return Ratios
Credit Quality  
Allowance for Credit Losses, Net Charge-Offs and Related Ratios  
Non-Accrual Loans (excludes loans held for sale), Early and Late Stage Delinquencies  
Troubled Debt Restructurings  
Consolidated Balance Sheets  
  
Loans   
Deposits  
Reconciliation to GAAP Financial Measures  
Tangible Common Ratios
Forward-Looking Statements



Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Financial Highlights
Quarter Ended
($ amounts in millions, except per share data)6/30/20213/31/202112/31/20209/30/20206/30/2020
Earnings Summary
Interest income - taxable equivalent$1,018 $1,024 $1,072 $1,071 $1,076 
Interest expense - taxable equivalent43 46 55 71 91 
Net interest income - taxable equivalent975 978 1,017 1,000 985 
Less: Taxable-equivalent adjustment12 11 11 12 13 
Net interest income 963 967 1,006 988 972 
Provision for (benefit from) credit losses(337)(142)(38)113 882 
Net interest income after provision for (benefit from) credit losses1,300 1,109 1,044 875 90 
Non-interest income619 641 680 655 573 
Non-interest expense898 928 987 896 924 
Income (loss) before income taxes1,021 822 737 634 (261)
Income tax expense (benefit) 231 180 121 104 (47)
Net income (loss)$790 $642 $616 $530 $(214)
Net income (loss) available to common shareholders$748 $614 $588 $501 $(237)
Earnings (loss) per common share - basic0.78 0.64 0.61 0.52 (0.25)
Earnings (loss) per common share - diluted0.77 0.63 0.61 0.52 (0.25)
Balance Sheet Summary
At quarter-end
Loans, net of unearned income$84,074 $84,755 $85,266 $88,359 $90,548 
Allowance for credit losses(1,684 )(2,068 )(2,293 )(2,425 )(2,425 )
Assets155,610 153,331 147,389 145,180 144,070 
Deposits131,484 129,602 122,479 118,445 116,779 
Long-term borrowings - Federal Home Loan Bank advances— — — — 401 
Long-term borrowings - Other2,870 2,916 3,569 4,919 6,007 
Shareholders' equity18,252 17,862 18,111 17,904 17,602 
Average balances
Loans, net of unearned income$84,551 $84,755 $86,664 $89,370 $91,964 
Assets154,678 146,554 144,819 142,845 139,820 
Deposits131,132 122,937 119,767 116,656 110,921 
Long-term borrowings - Federal Home Loan Bank advances— — — 392 1,266 
Long-term borrowings - Other2,901 3,192 4,634 5,437 6,301 
Shareholders' equity18,000 18,038 17,915 17,759 17,384 




1
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Selected Ratios and Other Information
As of and for Quarter Ended
 6/30/20213/31/202112/31/20209/30/20206/30/2020
Return on average assets* (1)
2.05 %1.78 %1.69 %1.48 %(0.61)%
Return on average common shareholders' equity*18.35 %15.20 %14.37 %12.38 %(5.96)%
Return on average tangible common shareholders’ equity (non-GAAP)* (2)
26.91 %22.28 %21.15 %18.32 %(8.90)%
Efficiency ratio56.4 %57.3 %58.1 %54.1 %59.4 %
Adjusted efficiency ratio (non-GAAP) (2)
56.9 %56.8 %55.8 %55.3 %57.7 %
Common book value per share$17.38 $16.87 $17.13 $16.92 $16.61 
Tangible common book value per share (non-GAAP) (2)
$11.94 $11.46 $11.71 $11.49 $11.16 
Tangible common shareholders’ equity to tangible assets (non-GAAP) (2)
7.58 %7.43 %7.91 %7.88 %7.72 %
Common equity (3)
$11,190 $10,952 $10,525 $10,092 $9,716 
Total risk-weighted assets (3)
$107,947 $106,261 $106,943 $108,285 $109,539 
Common equity Tier 1 ratio (3)
10.4 %10.3 %9.8 %9.3 %8.9 %
Tier 1 capital ratio (3)
11.9 %11.9 %11.4 %10.8 %10.4 %
Total risk-based capital ratio (3)
13.9 %14.0 %13.6 %13.0 %12.6 %
Leverage ratio (3)
8.6 %8.9 %8.7 %8.5 %8.4 %
Effective tax rate 22.6 %21.9 %16.5 %16.5 %18.3 %
Allowance for credit losses as a percentage of loans, net of unearned income2.00 %2.44 %2.69 %2.74 %2.68 %
Allowance for credit losses as a percentage of loans excluding PPP, net of unearned income (non-GAAP)(2)
2.07 %2.57 %2.81 %2.90 %2.82 %
Allowance for credit losses to non-performing loans, excluding loans held for sale 253 %280 %308 %316 %395 %
Net interest margin (FTE)* 2.81 %3.02 %3.13 %3.13 %3.19 %
Adjusted net interest margin (FTE) (non-GAAP) (2) *
3.31 %3.40 %3.40 %3.41 %3.36 %
Loans, net of unearned income, to total deposits63.9 %65.4 %69.6 %74.6 %77.5 %
Net charge-offs as a percentage of average loans*0.23 %0.40 %0.43 %0.50 %0.80 %
Non-accrual loans, excluding loans held for sale, as a percentage of loans0.79 %0.87 %0.87 %0.87 %0.68 %
Non-performing assets (excluding loans 90 days past due) as a percentage of loans, foreclosed properties, non-marketable investments and non-performing loans held for sale0.93 %0.90 %0.91 %0.90 %0.74 %
Non-performing assets (including loans 90 days past due) as a percentage of loans, foreclosed properties, non-marketable investments and non-performing loans held for sale (4)
1.09 %1.09 %1.10 %1.08 %0.91 %
Associate headcount—full-time equivalent (5)
18,814 18,926 19,406 19,766 20,073 
ATMs 2,051 2,101 2,083 2,058 2,038 
Branch Statistics
Full service1,280 1,332 1,333 1,334 1,340 
Drive-through/transaction service only33 34 36 47 51 
Total branch outlets1,313 1,366 1,369 1,381 1,391 
*Annualized
(1)Calculated by dividing net income by consolidated average assets.
(2)See reconciliation of GAAP to non-GAAP Financial Measures on pages 6, 7, 11, 12, 13, 15, 19, 21, 22, 23 and 26
(3)Current quarter Common equity as well as Total risk-weighted assets, Common equity Tier 1, Tier 1 capital, Total risk-based capital and Leverage ratios are estimated.
(4)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 16 for amounts related to these loans.
(5)Associate headcount for the second quarter of 2020 includes 463 associates from the Ascentium acquisition.



2
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Consolidated Statements of Operations (unaudited)
Quarter Ended
($ amounts in millions, except per share data)6/30/20213/31/202112/31/20209/30/20206/30/2020
Interest income on:
Loans, including fees $849 $854 $906 $903 $898 
Debt securities131 133 136 140 148 
Loans held for sale12 12 9 8 6 
Other earning assets 14 14 10 8 11 
Total interest income1,006 1,013 1,061 1,059 1,063 
Interest expense on:
Deposits17 19 24 32 40 
Short-term borrowings— — — — 2 
Long-term borrowings26 27 31 39 49 
Total interest expense43 46 55 71 91 
Net interest income 963 967 1,006 988 972 
Provision for (benefit from) credit losses(337)(142)(38)113 882 
Net interest income after provision for (benefit from) credit losses1,300 1,109 1,044 875 90 
Non-interest income:
Service charges on deposit accounts163 157 160 152 131 
Card and ATM fees128 115 117 115 101 
Wealth management income96 91 89 85 79 
Capital markets income61 100 110 61 95 
Mortgage income53 90 75 108 82 
Securities gains (losses), net1 1 — 3 1 
Other117 87 129 131 84 
Total non-interest income619 641 680 655 573 
Non-interest expense:
Salaries and employee benefits532 546 581 525 527 
Net occupancy expense75 77 78 80 76 
Equipment and software expense89 90 90 89 86 
Other202 215 238 202 235 
Total non-interest expense898 928 987 896 924 
Income (loss) before income taxes1,021 822 737 634 (261)
Income tax expense (benefit)231 180 121 104 (47)
Net income (loss)$790 $642 $616 $530 $(214)
Net income (loss) available to common shareholders$748 $614 $588 $501 $(237)
Weighted-average shares outstanding—during quarter:
Basic958 961 960 960 960 
Diluted965 968 965 962 960 
Actual shares outstanding—end of quarter955 961 960 960 960 
Earnings (loss) per common share: (1)
Basic$0.78 $0.64 $0.61 $0.52 $(0.25)
Diluted$0.77 $0.63 $0.61 $0.52 $(0.25)
Taxable-equivalent net interest income$975 $978 $1,017 $1,000 $985 
________
(1) Quarterly amounts may not add to year-to-date amounts due to rounding.





3
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Consolidated Statements of Operations (continued) (unaudited)
Six Months Ended June 30
($ amounts in millions, except per share data)20212020
Interest income on:
Loans, including fees$1,703 $1,801 
Debt securities264 306 
Loans held for sale24 11 
Other earning assets 28 24 
Total interest income2,019 2,142 
Interest expense on:
Deposits36 124 
Short-term borrowings— 10 
Long-term borrowings53 108 
Total interest expense89 242 
Net interest income1,930 1,900 
Provision for (benefit from) credit losses(479)1,255 
Net interest income after provision for (benefit from) credit losses2,409 645 
Non-interest income:
Service charges on deposit accounts320 309 
Card and ATM fees243 206 
Wealth management income 187 163 
Capital markets income161 104 
Mortgage income143 150 
Securities gains (losses), net2 1 
Other204 125 
Total non-interest income1,260 1,058 
Non-interest expense:
Salaries and employee benefits1,078 994 
Net occupancy expense152 155 
Equipment and software expense179 169 
Other417 442 
Total non-interest expense1,826 1,760 
Income before income taxes1,843 (57)
Income tax expense (benefit)411 (5)
Net income (loss)$1,432 $(52)
Net income (loss) available to common shareholders$1,362 $(98)
Weighted-average shares outstanding—during year:
Basic959 958 
Diluted967 958 
Actual shares outstanding—end of period955 960 
Earnings (loss) per common share:
Basic$1.42 $(0.10)
Diluted$1.41 $(0.10)
Taxable-equivalent net interest income$1,953 $1,925 


4
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis
 Quarter Ended
 6/30/20213/31/2021
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ ExpenseYield/ RateAverage BalanceIncome/ ExpenseYield/ Rate
Assets
Earning assets:
Federal funds sold and securities purchased under agreements to resell$9 $— 0.13 %$— $— — %
Debt securities (1)
28,633 131 1.83 27,180 $133 1.96 
Loans held for sale1,382 12 3.36 1,603 12 3.10 
Loans, net of unearned income:
Commercial and industrial 43,140 467 4.32 42,816 459 4.33 
Commercial real estate mortgage—owner-occupied5,358 60 4.42 5,375 60 4.48 
Commercial real estate construction—owner-occupied276 3 4.05 303 3 3.89 
Commercial investor real estate mortgage5,521 30 2.19 5,375 30 2.22 
Commercial investor real estate construction1,761 12 2.73 1,847 13 2.75 
Residential first mortgage16,795 134 3.19 16,606 134 3.23 
Home equity6,774 60 3.52 7,085 62 3.55 
Indirect—vehicles690 5 3.09 850 7 3.24 
Indirect—other consumer2,174 39 7.27 2,352 44 7.51 
Consumer credit card1,108 33 12.13 1,151 35 12.19 
Other consumer954 18 7.32 995 18 7.43 
Total loans, net of unearned income84,551 861 4.07 84,755 865 4.11 
Interest bearing deposits in other banks23,337 7 0.11 16,509 4 0.10 
Other earning assets1,297 7 2.20 1,279 10 3.27 
Total earning assets 139,209 1,018 2.92 131,326 1,024 3.14 
Unrealized gains/(losses) on debt securities available for sale, net (1)
627 867 
Allowance for loan losses(1,896)(2,139)
Cash and due from banks2,094 1,931 
Other non-earning assets14,644 14,569 
$154,678 $146,554 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $13,914 5 0.14 $12,340 5 0.15 
Interest-bearing checking25,044 2 0.03 24,171 2 0.04 
Money market 30,762 2 0.03 29,425 3 0.04 
Time deposits4,813 8 0.64 5,158 9 0.74 
Other deposits4 — 0.55 4 — 1.81 
Total interest-bearing deposits (2)
74,537 17 0.09 71,098 19 0.11 
Long-term borrowings2,901 26 3.59 3,192 27 3.42 
Total interest-bearing liabilities77,438 43 0.22 74,290 46 0.25 
Non-interest-bearing deposits (2)
56,595 — — 51,839 — — 
Total funding sources134,033 43 0.13 126,129 46 0.15 
Net interest spread (1)
2.70 2.89 
Other liabilities2,645 2,387 
Shareholders’ equity18,000 18,038 
$154,678 $146,554 
Net interest income /margin FTE basis (1)
$975 2.81 %$978 3.02 %
_______
(1) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(2) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.05% for the quarter ended June 30, 2021 and 0.06% for the quarter ended March 31, 2021.



5
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Consolidated Average Daily Balances and Yield/Rate Analysis (continued)
 Quarter Ended
 12/31/20209/30/20206/30/2020
($ amounts in millions; yields on taxable-equivalent basis)Average BalanceIncome/ ExpenseYield/ RateAverage BalanceIncome/ ExpenseYield/ RateAverage BalanceIncome/ ExpenseYield/ Rate
Assets
Earning assets:
Debt securities (1)
$26,779 $136 2.02 %$24,950 $140 2.24 %$23,828 $148 2.49 %
Loans held for sale1,253 9 2.62 1,147 8 2.89 807 6 3.06 
Loans, net of unearned income:
Commercial and industrial 43,889 491 4.44 46,405 474 4.05 49,296 461 3.74 
Commercial real estate mortgage—owner-occupied5,405 62 4.49 5,498 63 4.50 5,492 61 4.41 
Commercial real estate construction—owner-occupied303 3 3.95 318 3 4.04 312 3 4.20 
Commercial investor real estate mortgage5,549 32 2.22 5,324 31 2.27 5,150 33 2.53 
Commercial investor real estate construction1,899 13 2.82 1,974 15 2.87 1,869 15 3.30 
Residential first mortgage16,433 135 3.30 15,786 135 3.41 14,884 130 3.50 
Home equity7,411 67 3.61 7,727 70 3.59 8,042 73 3.65 
Indirect—vehicles1,023 8 3.22 1,223 10 3.25 1,441 11 3.24 
Indirect—other consumer2,514 49 7.74 2,835 57 8.06 3,111 65 8.36 
Consumer credit card1,190 37 12.40 1,194 38 12.62 1,230 36 11.65 
Other consumer1,048 20 7.47 1,086 19 7.36 1,137 23 7.54 
Total loans, net of unearned income 86,664 917 4.20 89,370 915 4.06 91,964 911 3.96 
Interest bearing deposits in other banks13,379 3 0.10 10,372 2 0.10 6,115 2 0.10 
Other earning assets1,278 7 2.20 1,323 6 1.79 1,426 9 2.35 
Total earning assets
129,353 1,072 3.29 127,162 1,071 3.35 124,140 1,076 3.46 
Unrealized gains/(losses) on debt securities available for sale, net (1)
1,055 1,143 1,031 
Allowance for loan losses(2,286)(2,308)(1,860)
Cash and due from banks2,027 2,174 2,070 
Other non-earning assets14,670 14,674 14,439 
$144,819 $142,845 $139,820 
Liabilities and Shareholders’ Equity
Interest-bearing liabilities:
Savings $11,374 3 0.12 $10,935 4 0.14 $10,152 3 0.13 
Interest-bearing checking22,940 3 0.05 22,098 4 0.07 21,755 6 0.11 
Money market 29,312 5 0.06 29,146 8 0.12 27,870 10 0.13 
Time deposits5,598 13 0.86 6,150 16 1.08 6,690 21 1.26 
Other deposits11 — 1.93 13 — 1.87 72 — 1.64 
Total interest-bearing deposits (2)
69,235 24 0.13 68,342 32 0.19 66,539 40 0.24 
Federal funds purchased and securities sold under agreements to repurchase35 — 0.24 — — — — — — 
Other short-term borrowings— — — — — — 1,558 2 0.53 
Long-term borrowings4,634 31 2.66 5,829 39 2.63 7,567 49 2.56 
Total interest-bearing liabilities 73,904 55 0.29 74,171 71 0.38 75,664 91 0.48 
Non-interest-bearing deposits (2)
50,532 — — 48,314 — — 44,382 — — 
Total funding sources124,436 55 0.17 122,485 71 0.23 120,046 91 0.30 
Net interest spread (1)
3.00 2.97 2.98 
Other liabilities2,468 2,576 2,390 
Shareholders’ equity17,915 17,759 17,384 
Noncontrolling interest— 25 — 
$144,819 $142,845 $139,820 
Net interest income/margin FTE basis (1)
$1,017 3.13 %$1,000 3.13 %$985 3.19 %
_______
(1) Debt securities are included on an amortized cost basis with yield and net interest margin calculated accordingly.
(2) Total deposit costs may be calculated by dividing total interest expense on deposits by the sum of interest-bearing deposits and non-interest bearing deposits. The rates for total deposit costs equal 0.08% for the quarter ended December 31, 2020, 0.11% for the quarter ended September 30, 2020 and 0.14% for the quarter ended June 30, 2020.

Adjusted Net Interest Margin (non-GAAP)
Regions believes the adjusted net interest margin (non-GAAP) provides investors with meaningful additional information about Regions' performance when margin associated with the SBA's Paycheck Protection Program (PPP) loans and excess cash are excluded from net interest margin (GAAP).
Quarter-ended
6/30/20213/31/202112/31/20209/30/20206/30/2020
Net interest margin (FTE) (GAAP)2.81 %3.02 %3.13 %3.13 %3.19 %
Impact of SBA PPP loans (1)
(0.05)%(0.04)%(0.07)%0.01 %0.02 %
Impact of excess cash (2)
0.55 %0.42 %0.34 %0.27 %0.15 %
Adjusted net interest margin (FTE) (non-GAAP)3.31 %3.40 %3.40 %3.41 %3.36 %
_______
NM - Not Meaningful
(1) The impact of SBA PPP loans was determined using average PPP loan balances and the related net interest income.
(2) The impact of excess cash was determined using the average cash balance in excess of $750 million and the related net interest income.

6
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Pre-Tax Pre-Provision Income ("PPI") and Adjusted PPI (non-GAAP)
The Pre-Tax Pre-Provision Income tables below present computations of pre-tax pre-provision income excluding certain adjustments (non-GAAP). Regions believes that the presentation of PPI and the exclusion of certain items from PPI provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of income that excludes certain adjustments does not represent the amount that effectively accrues directly to shareholders.
 Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Net income (loss) available to common shareholders (GAAP)$748 $614 $588 $501 $(237)$134 21.8 %$985 415.6 %
Preferred dividends and other (GAAP)(1)
42 28 28 29 23 14 50.0 %19 82.6 %
Income tax expense (benefit) (GAAP)231 180 121 104 (47)51 28.3 %278 NM
Income (loss) before income taxes (GAAP)1,021 822 737 634 (261)199 24.2 %1,282 491.2 %
Provision for (benefit from) credit losses (GAAP)(337)(142)(38)113 882 (195)(137.3)%(1,219)(138.2)%
Pre-tax pre-provision income (non-GAAP)684 680 699 747 621 4 0.6 %63 10.1 %
Other adjustments:
Securities (gains) losses, net(1)(1)— (3)(1)— — %— — %
Gains on equity investment(2)
— (3)(6)(44)— 3 100.0 %— NM
Leveraged lease termination gains, net— — — — — — NM— NM
Bank-owned life insurance(3)
(18)— (25)— — (18)NM(18)NM
Salaries and employee benefits—severance charges2 3 26 2 2 (1)(33.3)%— — %
Branch consolidation, property and equipment charges— 5 7 3 10 (5)(100.0)%(10)(100.0)%
Contribution to the Regions Financial Corporation foundation1 2 10 — — (1)(50.0)%1 NM
Loss on early extinguishment of debt— — 14 2 6 — NM(6)(100.0)%
Professional, legal and regulatory expenses— — — — 7 — NM(7)(100.0)%
Acquisition expenses— — — — 1 — NM(1)(100.0)%
Total other adjustments(16)6 26 (40)25 (22)(366.7)%(41)(164.0)%
Adjusted pre-tax pre-provision income (non-GAAP)$668 $686 $725 $707 $646 $(18)(2.6)%$22 3.4 %
______
NM - Not Meaningful
(1) The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed during the second quarter of 2021.
(2) The first quarter 2021 amount is a gain on the sale of an equity investment, whereas the other quarters are valuations gains.
(3) The second quarter 2021 amount relates to an individual BOLI claim benefit. During the fourth quarter of 2020, the Company recognized a gain on the exchange of BOLI policies.




7
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Non-Interest Income
 Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Service charges on deposit accounts$163 $157 $160 $152 $131 $6 3.8 %$32 24.4 %
Card and ATM fees128 115 117 115 101 13 11.3 %27 26.7 %
Wealth management income96 91 89 85 79 5 5.5 %17 21.5 %
Capital markets income (1)
61 100 110 61 95 (39)(39.0)%(34)(35.8)%
Mortgage income53 90 75 108 82 (37)(41.1)%(29)(35.4)%
Commercial credit fee income 23 22 22 20 17 1 4.5 %6 35.3 %
Bank-owned life insurance33 17 43 17 18 16 94.1 %15 83.3 %
Securities gains (losses), net1 1 — 3 1 — — %— — %
Market value adjustments on employee benefit assets (2)
8 7 7 14 16 1 14.3 %(8)(50.0)%
Gains on equity investment (3)
— 3 6 44 — (3)(100.0)%— NM
Other 53 38 51 36 33 15 39.5 %20 60.6 %
Total non-interest income$619 $641 $680 $655 $573 $(22)(3.4)%$46 8.0 %
Mortgage Income
Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Production and sales$50 $76 $74 $99 $75 $(26)(34.2)%$(25)(33.3)%
Loan servicing25 24 24 23 23 1 4.2 %2 8.7 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions(38)90 5 — (11)(128)(142.2)%(27)(245.5)%
MSRs hedge gain (loss)32 (83)(11)— 13 115 138.6 %19 146.2 %
MSRs change due to payment decay(16)(17)(17)(14)(18)1 5.9 %2 11.1 %
MSR and related hedge impact(22)(10)(23)(14)(16)(12)(120.0)%(6)37.5 %
Total mortgage income$53 $90 $75 $108 $82 $(37)(41.1)%(29)(35.4)%
Mortgage production - portfolio$1,746 $1,470 $1,833 $2,023 $2,527 $276 18.8 %$(781)(30.9)%
Mortgage production - agency/secondary market1,255 1,306 1,553 1,465 1,426 (51)(3.9)%(171)(12.0)%
Total mortgage production$3,001 $2,776 $3,386 $3,488 $3,953 $225 8.1 %$(952)(24.1)%
Mortgage production - purchased63.6 %51.3 %49.3 %50.9 %35.2 %
Mortgage production - refinanced36.4 %48.7 %50.7 %49.1 %64.8 %
 
Wealth Management Income
Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Investment management and trust fee income$69 $66 $67 $62 $62 $3 4.5 %$7 11.3 %
Investment services fee income27 25 22 23 17 2 8.0 %10 58.8 %
Total wealth management income (4)
$96 $91 $89 $85 $79 $5 5.5 %$17 21.5 %
Capital Markets Income
Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Capital markets income$61 $100 $110 $61 $95 $(39)(39.0)%$(34)(35.8)%
Less: Valuation adjustments on customer derivatives (5)
(4)11 8 5 34 (15)(136.4)%(38)(111.8)%
Capital markets income excluding valuation adjustments $65 $89 $102 $56 $61 $(24)(27.0)%$4 6.6 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.
(3)The first quarter 2021 amount is a gain on the sale of an equity investment, whereas the other quarters are valuation gains.
(4)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(5)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.

8
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Non-Interest Income
 Six Months EndedYear-to-Date 6/30/2021 vs. 6/30/2020
($ amounts in millions)6/30/20216/30/2020AmountPercent
Service charges on deposit accounts$320 $309 $11 3.6 %
Card and ATM fees243 206 37 18.0 %
Wealth management income187 163 24 14.7 %
Capital markets income (1)
161 104 57 54.8 %
Mortgage income143 150 (7)(4.7)%
Commercial credit fee income 45 35 10 28.6 %
Bank-owned life insurance50 35 15 42.9 %
Securities gains (losses), net2 1 1 100.0 %
Market value adjustments on employee benefit assets - other (2)
15 (9)24 266.7 %
Gain on equity investment3 — 3 NM
Other 91 64 27 42.2 %
Total non-interest income$1,260 $1,058 $202 19.1 %
Mortgage Income
Six Months EndedYear-to-Date 6/30/2021 vs. 6/30/2020
($ amounts in millions)6/30/20216/30/2020AmountPercent
Production and sales$126 $123 $3 2.4 %
Loan servicing49 48 1 2.1 %
MSR and related hedge impact:
MSRs fair value increase (decrease) due to change in valuation inputs or assumptions52 (94)146 155.3 %
MSRs hedge gain (loss)(51)110 (161)(146.4)%
MSRs change due to payment decay(33)(37)4 10.8 %
MSR and related hedge impact(32)(21)(11)(52.4)%
Total mortgage income$143 $150 $(7)(4.7)%
Mortgage production - portfolio$3,216 $3,369 $(153)(4.5)%
Mortgage production - agency/secondary market2,561 2,054 507 24.7 %
Total mortgage production $5,777 $5,423 $354 6.5 %
Mortgage production - purchased57.7 %42.1 %
Mortgage production - refinanced42.3 %57.9 %
Wealth Management Income
Six Months EndedYear-to-Date 6/30/2021 vs. 6/30/2020
($ amounts in millions)6/30/20216/30/2020AmountPercent
Investment management and trust fee income$135 $124 $11 8.9 %
Investment services fee income52 39 13 33.3 %
Total wealth management income (3)
$187 $163 $24 14.7 %
Capital Markets Income
Six Months EndedYear-to-Date 6/30/2021 vs. 6/30/2020
($ amounts in millions)6/30/20216/30/2020AmountPercent
Capital markets income$161 $104 $57 54.8 %
Less: Valuation adjustments on customer derivatives (4)
7 — 7 NM
Capital markets income excluding valuation adjustments $154 $104 $50 48.1 %
_________
NM - Not Meaningful
(1)Capital markets income primarily relates to capital raising activities that includes debt securities underwriting and placement, loan syndication and placement, as well as foreign exchange, derivative and merger and acquisition advisory services.
(2)These market value adjustments relate to assets held for employee benefits that are offset within salaries and employee benefits expense.
(3)Total wealth management income presented above does not include the portion of service charges on deposit accounts and similar smaller dollar amounts that are also attributable to the wealth management segment.
(4)For the purposes of determining the fair value of customer derivatives, the Company considers the risk of nonperformance by counterparties, as well as the Company's own risk of nonperformance. The valuation adjustments above are reflective of the values associated with these considerations.

9
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Non-Interest Expense
Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Salaries and employee benefits$532 $546 $581 $525 $527 $(14)(2.6)%$5 0.9 %
Net occupancy expense75 77 78 80 76 (2)(2.6)%(1)(1.3)%
Equipment and software expense89 90 90 89 86 (1)(1.1)%3 3.5 %
Outside services39 38 37 44 44 1 2.6 %(5)(11.4)%
Professional, legal and regulatory expenses 15 29 21 22 28 (14)(48.3)%(13)(46.4)%
Marketing29 22 26 22 22 7 31.8 %7 31.8 %
FDIC insurance assessments11 10 12 10 15 1 10.0 %(4)(26.7)%
Credit/checkcard expenses17 14 13 12 12 3 21.4 %5 41.7 %
Branch consolidation, property and equipment charges — 5 7 3 10 (5)(100.0)%(10)(100.0)%
Visa class B shares expense6 4 6 5 9 2 50.0 %(3)(33.3)%
Loss on early extinguishment of debt— — 14 2 6 — — %(6)(100.0)%
Other85 93 102 82 89 (8)(8.6)%(4)(4.5)%
Total non-interest expense$898 $928 $987 $896 $924 $(30)(3.2)%$(26)(2.8)%

Six Months EndedYear-to-Date 6/30/2021 vs. 6/30/2020
($ amounts in millions)6/30/20216/30/2020AmountPercent
Salaries and employee benefits $1,078 $994 $84 8.5 %
Net occupancy expense152 155 (3)(1.9)%
Equipment and software expense179 169 10 5.9 %
Outside services77 89 (12)(13.5)%
Professional, legal and regulatory expenses 44 46 (2)(4.3)%
Marketing51 46 5 10.9 %
FDIC insurance assessments21 26 (5)(19.2)%
Credit/checkcard expenses31 25 6 24.0 %
Branch consolidation, property and equipment charges 5 21 (16)(76.2)%
Visa class B shares expense10 13 (3)(23.1)%
Loss on early extinguishment of debt— 6 (6)(100.0)%
Other178 170 8 4.7 %
Total non-interest expense$1,826 $1,760 $66 3.8 %
_________
NM - Not Meaningful




10
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Reconciliation to GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, and Adjusted Operating Leverage Ratios
The table below presents computations of the efficiency ratio, which is a measure of productivity, generally calculated as non-interest expense divided by total revenue; and the fee income ratio, generally calculated as non-interest income divided by total revenue. Management uses these ratios to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the fee income ratio. Net interest income and non-interest income are added together to arrive at total revenue. Adjustments are made to arrive at adjusted total revenue (non-GAAP). Net interest income on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the fee income and efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful basis for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. The table on the following page also presents a computation of the operating leverage ratio (non-GAAP) which is the period to period percentage change in adjusted total revenue on a taxable-equivalent basis (non-GAAP) less the percentage change in adjusted non-interest expense (non-GAAP). Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management.
 Quarter Ended
($ amounts in millions) 6/30/20213/31/202112/31/20209/30/20206/30/20202Q21 vs. 1Q212Q21 vs. 2Q20
Non-interest expense (GAAP)A$898 $928 $987 $896 $924 $(30)(3.2)%$(26)(2.8)%
Adjustments:
Contribution to the Regions Financial Corporation foundation (1)(2)(10)— — 1 50.0 %(1)NM
Branch consolidation, property and equipment charges— (5)(7)(3)(10)5 100.0 %10 100.0 %
Salary and employee benefits—severance charges(2)(3)(26)(2)(2)1 33.3 %— — %
Loss on early extinguishment of debt— — (14)(2)(6)— NM6 100.0 %
Professional, legal and regulatory expenses— — — — (7)— NM7 100.0 %
Acquisition expenses— — — — (1)— NM1 100.0 %
Adjusted non-interest expense (non-GAAP)B$895 $918 $930 $889 $898 $(23)(2.5)%$(3)(0.3)%
Net interest income (GAAP)C$963 $967 $1,006 $988 $972 $(4)(0.4)%$(9)(0.9)%
Taxable-equivalent adjustment12 11 11 12 13 1 9.1 %(1)(7.7)%
Net interest income, taxable-equivalent basisD$975 $978 $1,017 $1,000 $985 $(3)(0.3)%$(10)(1.0)%
Non-interest income (GAAP)E619 641 680 655 573 (22)(3.4)%46 8.0 %
Adjustments:
Securities (gains) losses, net(1)(1)— (3)(1)— — %— — %
Gains on equity investment(1)
— (3)(6)(44)— 3 100.0 %— NM
Bank-owned life insurance(2)
(18)— (25)— — (18)NM(18)NM
Adjusted non-interest income (non-GAAP)F$600 $637 $649 $608 $572 (37)(5.81)%284.9 %
Total revenueC+E=G$1,582 $1,608 $1,686 $1,643 $1,545 $(26)(1.6)%$37 2.4 %
Adjusted total revenue (non-GAAP)C+F=H$1,563 $1,604 $1,655 $1,596 $1,544 $(41)(2.6)%$19 1.2 %
Total revenue, taxable-equivalent basisD+E=I$1,594 $1,619 $1,697 $1,655 $1,558 $(25)(1.5)%$36 2.3 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)D+F=J$1,575 $1,615 $1,666 $1,608 $1,557 $(40)(2.5)%$18 1.2 %
Efficiency ratio (GAAP)(3)
A/I56.4 %57.3 %58.1 %54.1 %59.4 %
Adjusted efficiency ratio (non-GAAP)(3)
B/J56.9 %56.8 %55.8 %55.3 %57.7 %
Fee income ratio (GAAP)(3)
E/I38.8 %39.6 %40.1 %39.6 %36.8 %
Adjusted fee income ratio (non-GAAP)(3)
F/J38.1 %39.4 %38.9 %37.8 %36.8 %
________
NM - Not Meaningful
(1)The first quarter 2021 amount is a gain on the sale of an equity investment, whereas the other quarters are valuation gains.
(2)During the second quarter of 2021, the Company recognized an individual BOLI claim benefit. During the fourth quarter of 2020, the Company recognized a gain on the exchange of BOLI policies.
(3)Amounts have been calculated using whole dollar values.







11
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Reconciliation to GAAP Financial Measures
Adjusted Efficiency Ratios, Adjusted Fee Income Ratios, Adjusted Non-Interest Income/Expense, and Adjusted Operating Leverage Ratios (continued)
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Non-interest expense (GAAP)K$1,826 $1,760 663.8 %
Adjustments:
Contribution to the Regions Financial Corporation foundation (3)— (3)NM
Branch consolidation, property and equipment charges(5)(21)16 76.2 %
Salary and employee benefits—severance charges(5)(3)(2)(66.7)%
Loss on early extinguishment of debt— (6)6 100.0 %
Professional, legal and regulatory expenses— (7)7 100.0 %
Acquisition expenses— (1)1 100.0 %
Adjusted non-interest expense (non-GAAP)L$1,813 $1,722 $91 5.3 %
Net interest income (GAAP) M$1,930 $1,900 301.6 %
Taxable-equivalent adjustment23 25 (2)(8.0)%
Net interest income, taxable-equivalent basisN$1,953 $1,925 $28 1.5 %
Non-interest income (GAAP)O$1,260 $1,058 20219.1 %
Adjustments:
Securities (gains) losses, net(2)(1)(1)(100.0)%
Gain on equity investment(3)— (3)NM
Leveraged lease termination gains— (2)2 100.0 %
Bank owned life insurance(1)
(18)— (18)NM
Adjusted non-interest income (non-GAAP)P$1,237 $1,055 $182 17.3 %
Total revenueM+O=Q$3,190 $2,958 $232 7.8 %
Adjusted total revenue (non-GAAP)M+P=R$3,167 $2,955 $212 7.2 %
Total revenue, taxable-equivalent basisN+O=S$3,213 $2,983 $230 7.7 %
Adjusted total revenue, taxable-equivalent basis (non-GAAP)N+P=T$3,190 $2,980 $210 7.0 %
Operating leverage ratio (GAAP)(2)
S-K3.9 %
Adjusted operating leverage ratio (non-GAAP)(2)
T-L1.8 %
Efficiency ratio (GAAP)(2)
K/S56.9 %59.0 %
Adjusted efficiency ratio (non-GAAP)(2)
L/T56.9 %57.8 %
Fee income ratio (GAAP)(2)
O/S39.2 %35.5 %
Adjusted fee income ratio (non-GAAP)(2)
P/T38.8 %35.4 %
______
NM - Not Meaningful
(1)During the second quarter of 2021, the Company recognized an individual BOLI claim benefit.
(2)Amounts have been calculated using whole dollar values.






12
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Reconciliation to GAAP Financial Measure

Return Ratio

The table below provides a calculation of “return on average tangible common shareholders’ equity”. Tangible common shareholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common shareholders’ equity measure. Because tangible common shareholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non-GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.
Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
RETURN ON AVERAGE TANGIBLE COMMON SHAREHOLDERS' EQUITY
Net income (loss) available to common shareholders (GAAP)A$748 $614 $588 $501 $(237)
Average shareholders' equity (GAAP)$18,000 $18,038 $17,915 $17,759 $17,384 
Less:
Average intangible assets (GAAP)5,292 5,309 5,313 5,322 5,373 
Average deferred tax liability related to intangibles (GAAP) (96)(104)(105)(103)(94)
Average preferred stock (GAAP)1,659 1,656 1,656 1,656 1,409 
Average tangible common shareholders' equity (non-GAAP)B$11,145 $11,177 $11,051 $10,884 $10,696 
Return on average tangible common shareholders' equity (non-GAAP)*(1)
A/B26.91 %22.28 %21.15 %18.32 %(8.90)%
___
*Annualized
(1)Amounts have been calculated using whole dollar values.


13
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Credit Quality
As of and for Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Components:
Beginning allowance for loan losses (ALL)$1,976 $2,167 $2,276 $2,276 $1,560 
Loans charged-off:
Commercial and industrial35 45 67 84 139 
Commercial real estate mortgage—owner-occupied1 1 2 2 3 
Commercial real estate construction—owner-occupied— 1 — — — 
Total commercial36 47 69 86 142 
Commercial investor real estate mortgage4 15 1 — — 
Total investor real estate4 15 1 — — 
Residential first mortgage— 1 3 1 1 
Home equity—lines of credit2 2 3 2 3 
Home equity—closed-end1 — 1 1 — 
Indirect—vehicles1 2 2 4 6 
Indirect—other consumer15 20 20 17 18 
Consumer credit card12 12 12 13 17 
Other consumer12 15 15 15 17 
Total consumer43 52 56 53 62 
Total83 114 126 139 204 
Recoveries of loans previously charged-off:
Commercial and industrial14 16 14 10 9 
Commercial real estate mortgage—owner-occupied1 — 1 1 1 
Commercial real estate construction—owner-occupied— — — — — 
Total commercial15 16 15 11 10 
Commercial investor real estate mortgage2 — 2 — — 
Total investor real estate2 — 2 — — 
Residential first mortgage2 1 — 1 1 
Home equity—lines of credit5 3 4 3 2 
Home equity—closed-end2 — 1 1 — 
Indirect—vehicles2 1 1 3 3 
Indirect—other consumer2 1 1 1 — 
Consumer credit card3 3 3 2 3 
Other consumer3 6 5 4 3 
Total consumer19 15 15 15 12 
Total36 31 32 26 22 
Net charge-offs (recoveries):
Commercial and industrial21 29 53 74 130 
Commercial real estate mortgage—owner-occupied— 1 1 1 2 
Commercial real estate construction—owner-occupied— 1 — — — 
Total commercial21 31 54 75 132 
Commercial investor real estate mortgage2 15 (1)— — 
Total investor real estate2 15 (1)— — 
Residential first mortgage(2)— 3 — — 
Home equity—lines of credit(3)(1)(1)(1)1 
Home equity—closed-end(1)— — — — 
Indirect—vehicles(1)1 1 1 3 
Indirect—other consumer13 19 19 16 18 
Consumer credit card9 9 9 11 14 
Other consumer9 9 10 11 14 
Total consumer24 37 41 38 50 
Total$47 $83 $94 $113 $182 
Provision for (benefit from) loan losses$(332)$(108)$(15)$113 $838 
Initial allowance on acquired purchased credit deteriorated loans— — — — 60 
Ending allowance for loan losses (ALL)1,597 1,976 2,167 2,276 2,276 
Beginning reserve for unfunded credit commitments92 126 149 149 105 
Provision for (benefit from) unfunded credit losses(5)(34)(23)— 44 
Ending reserve for unfunded commitments87 92 126 149 149 
Allowance for credit losses (ACL) at period end$1,684 $2,068 $2,293 $2,425 $2,425 

14
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Credit Quality (continued)
As of and for Quarter Ended
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Net loan charge-offs as a % of average loans, annualized(1):
Commercial and industrial0.19 %0.28 %0.48 %0.63 %1.06 %
Commercial real estate mortgage—owner-occupied(0.03)%0.09 %0.07 %0.05 %0.17 %
Commercial real estate construction—owner-occupied0.38 %0.93 %— %— %— %
Total commercial0.17 %0.26 %0.44 %0.57 %0.96 %
Commercial investor real estate mortgage0.19 %1.11 %(0.04)%(0.01)%(0.03)%
Commercial investor real estate construction(0.01)%— %(0.01)%— %— %
Total investor real estate0.14 %0.82 %(0.03)%(0.01)%(0.02)%
Residential first mortgage(0.04)%— %0.08 %— %— %
Home equity—lines of credit(0.29)%(0.06)%(0.11)%(0.11)%0.06 %
Home equity—closed-end(0.10)%— %0.03 %(0.01)%— %
Indirect—vehicles(0.10)%0.32 %0.26 %0.30 %0.85 %
Indirect—other consumer2.43 %3.28 %2.95 %2.23 %2.35 %
Consumer credit card3.17 %3.19 %3.02 %3.73 %4.41 %
Other consumer3.15 %4.02 %3.69 %4.12 %5.15 %
Total consumer0.34 %0.52 %0.54 %0.51 %0.68 %
Total0.23 %0.40 %0.43 %0.50 %0.80 %
Non-accrual loans, excluding loans held for sale$666 $738 $745 $767 $614 
Non-performing loans held for sale99 8 6 5 10 
Non-accrual loans, including loans held for sale765 746 751 772 624 
Foreclosed properties15 21 25 26 43 
Non-performing assets (NPAs)$780 $767 $776 $798 $667 
Loans past due > 90 days (2)
$134 $154 $164 $158 $245 
Criticized loans- business (3)
$3,222 $3,756 $3,800 $3,734 $4,225 
Credit Ratios(2):
ACL/Loans, net2.00 %2.44 %2.69 %2.74 %2.68 %
ALL/Loans, net1.90 %2.33 %2.54 %2.58 %2.51 %
Allowance for credit losses to non-performing loans, excluding loans held for sale253 %280 %308 %316 %395 %
Allowance for loan losses to non-performing loans, excluding loans held for sale240 %268 %291 %297 %370 %
Non-accrual loans, excluding loans held for sale/Loans, net0.79 %0.87 %0.87 %0.87 %0.68 %
NPAs (ex. 90+ past due)/Loans, foreclosed properties, non-marketable investments and non-performing loans held for sale0.93 %0.90 %0.91 %0.90 %0.74 %
NPAs (inc. 90+ past due)/Loans, foreclosed properties, non-marketable investments and non-performing loans held for sale (1)
1.09 %1.09 %1.10 %1.08 %0.91 %
(1)Amounts have been calculated using whole dollar values.
(2)Excludes guaranteed residential first mortgages that are 90+ days past due and still accruing. Refer to the footnotes on page 17 for amounts related to these loans.
(3)Business represents the combined total of commercial and investor real estate loans.

ACL/ Loans excluding PPP, net (non-GAAP)
Regions believes this Allowance for Credit Losses (ACL) ratio provides investors with meaningful additional information about credit loss allowance levels when the SBA's Paycheck Protection Program (PPP) loans, which are fully backed by the U.S. government, are excluded from total loans and the related allowance for credit losses is excluded from the total allowance for credit losses.

As of
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Total Loans$84,074 $84,755 $85,266 $88,359 $90,548 
Less: SBA PPP Loans2,948 4,317 3,624 4,594 4,498 
Loans excluding PPP, net (non-GAAP)$81,126 $80,438 $81,642 $83,765 $86,050 
ACL at period end$1,684 $2,068 $2,293 $2,425 $2,425 
Less: SBA PPP Loans' ACL3 3 1 — — 
ACL excluding PPP Loans' ACL (non-GAAP)$1,681 $2,065 $2,292 $2,425 $2,425 
ACL/Loans excluding PPP, net (non-GAAP)2.07 %2.57 %2.81 %2.90 %2.82 %


15
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Non-Accrual Loans (excludes loans held for sale)
 As of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20213/31/202112/31/20209/30/20206/30/2020
Commercial and industrial$472 1.11 %$426 0.98 %$418 0.97 %$459 1.02 %$445 0.93 %
Commercial real estate mortgage—owner-occupied76 1.41 %93 1.73 %97 1.80 %85 1.56 %74 1.35 %
Commercial real estate construction—owner-occupied10 4.02 %9 3.24 %9 3.01 %12 3.69 %10 3.09 %
Total commercial558 1.16 %528 1.08 %524 1.08 %556 1.09 %529 0.99 %
Commercial investor real estate mortgage4 0.07 %100 1.86 %114 2.11 %114 2.04 %1 0.02 %
Commercial investor real estate construction— — %— — %— — %4 0.19 %— — %
Total investor real estate4 0.05 %100 1.39 %114 1.57 %118 1.56 %1 0.01 %
Residential first mortgage51 0.30 %53 0.32 %53 0.32 %36 0.22 %32 0.21 %
Home equity—lines of credit45 1.12 %48 1.12 %46 1.01 %47 0.98 %46 0.92 %
Home equity—closed-end8 0.30 %9 0.31 %8 0.29 %9 0.31 %6 0.22 %
Indirect- vehicles— — %— — %— — %1 0.08 %— — %
Total consumer104 0.36 %110 0.38 %107 0.36 %93 0.31 %84 0.28 %
Total non-accrual loans$666 0.79 %$738 0.87 %$745 0.87 %$767 0.87 %$614 0.68 %

Early and Late Stage Delinquencies
Accruing 30-89 Days Past Due Loans
As of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20213/31/202112/31/20209/30/20206/30/2020
Commercial and industrial $35 0.08 %$42 0.10 %$59 0.14 %$50 0.11 %$81 0.17 %
Commercial real estate mortgage—owner-occupied7 0.13 %9 0.16 %5 0.09 %21 0.39 %11 0.20 %
Commercial real estate construction—owner-occupied— 0.14 %1 0.27 %1 0.30 %— 0.01 %1 0.15 %
Total commercial42 0.09 %52 0.11 %65 0.13 %71 0.14 %93 0.17 %
Commercial investor real estate mortgage4 0.07 %2 0.04 %3 0.06 %15 0.26 %1 0.02 %
Commercial investor real estate construction— — %1 0.03 %— — %— — %— 0.01 %
Total investor real estate4 0.06 %3 0.04 %3 0.04 %15 0.19 %1 0.02 %
Residential first mortgage—non-guaranteed (1)
51 0.31 %62 0.39 %80 0.51 %79 0.51 %105 0.71 %
Home equity—lines of credit18 0.45 %22 0.50 %35 0.78 %26 0.53 %32 0.64 %
Home equity—closed-end 10 0.39 %12 0.47 %17 0.60 %17 0.61 %25 0.85 %
Indirect—vehicles9 1.40 %11 1.48 %19 2.08 %22 1.96 %27 2.04 %
Indirect—other consumer12 0.57 %14 0.65 %20 0.82 %19 0.69 %16 0.51 %
Consumer credit card11 0.95 %12 1.09 %14 1.15 %13 1.12 %13 1.09 %
Other consumer10 0.99 %10 1.01 %15 1.43 %14 1.34 %14 1.32 %
Total consumer (1)
121 0.43 %143 0.51 %200 0.70 %190 0.65 %232 0.79 %
Total accruing 30-89 days past due loans (1)
$167 0.20 %$198 0.24 %$268 0.32 %$276 0.31 %$326 0.36 %
Accruing 90+ Days Past Due LoansAs of
($ amounts in millions, %'s calculated using whole dollar values)6/30/20213/31/202112/31/20209/30/20206/30/2020
Commercial and industrial$4 0.01 %$8 0.02 %$7 0.02 %$10 0.02 %$11 0.02 %
Commercial real estate mortgage—owner-occupied2 0.03 %1 0.02 %1 0.01 %— 0.01 %3 0.05 %
Total commercial6 0.01 %9 0.02 %8 0.02 %10 0.02 %14 0.03 %
Commercial investor real estate mortgage— — %— — %— — %1 0.01 %— — %
Commercial investor real estate construction— 0.01 %— — %— — %— — %— — %
Total investor real estate— — %— — %— — %1 0.01 %— — %
Residential first mortgage—non-guaranteed (2)
75 0.46 %87 0.55 %99 0.62 %86 0.56 %75 0.50 %
Home equity—lines of credit21 0.51 %19 0.45 %19 0.41 %25 0.53 %26 0.53 %
Home equity—closed-end 13 0.48 %14 0.52 %13 0.49 %12 0.41 %12 0.42 %
Indirect—vehicles2 0.41 %3 0.41 %4 0.41 %5 0.42 %8 0.55 %
Indirect—other consumer3 0.14 %4 0.16 %5 0.19 %3 0.11 %3 0.10 %
Consumer credit card12 1.05 %14 1.25 %14 1.19 %13 1.08 %17 1.38 %
Other consumer2 0.26 %4 0.39 %2 0.25 %3 0.27 %5 0.49 %
Total consumer (2)
128 0.46 %145 0.52 %156 0.54 %147 0.50 %146 0.49 %
Total accruing 90+ days past due loans (2)
$134 0.16 %$154 0.18 %$164 0.19 %$158 0.18 %$160 0.18 %
Total delinquencies (1) (2)
$301 0.36 %$352 0.42 %$432 0.51 %$434 0.49 %$486 0.54 %
(1)Excludes loans that are 100% guaranteed by FHA and guaranteed loans sold to GNMA where Regions has the right but not the obligation to repurchase. Total 30-89 days past due guaranteed loans excluded were $46 million at 6/30/2021, $58 million at 3/31/2021, $65 million at 12/31/2020, $57 million at 9/30/2020, and $56 million at 6/30/2020.
(2)Excludes loans that are 100% guaranteed by FHA and all guaranteed loans sold to GNMA where Regions has the right but not the obligation to repurchase. Total 90 days or more past due guaranteed loans excluded were $44 million at 6/30/2021, $51 million at 3/31/2021, $57 million at 12/31/2020, $47 million at 9/30/2020, and $55 million at 6/30/2020.

16
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Troubled Debt Restructurings
 
 As of
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Current:
Commercial $71 $75 $76 $73 $47 
Investor real estate75 11 44 45 6 
Residential first mortgage206 197 174 162 158 
Home equity—lines of credit31 33 34 36 37 
Home equity—closed-end62 68 73 79 83 
Consumer credit card— 1 1 1 1 
Other consumer4 4 3 3 3 
Total current449 389 405 399 335 
Accruing 30-89 DPD:
Commercial 1 2 1 1 2 
Investor real estate— 1 — — — 
Residential first mortgage11 11 14 16 20 
Home equity—lines of credit— — 1 1 1 
Home equity—closed-end3 3 5 4 7 
Other consumer— — 1 — — 
Total accruing 30-89 DPD15 17 22 22 30 
Total accruing and <90 DPD464 406 427 421 365 
Non-accrual or 90+ DPD:
Commercial 114 125 124 178 214 
Residential first mortgage32 36 42 36 37 
Home equity—lines of credit3 3 2 2 3 
Home equity—closed-end7 7 7 8 7 
Total non-accrual or 90+DPD156 171 175 224 261 
Total TDRs - Loans$620 $577 $602 $645 $626 
TDRs - Held For Sale— 1 1 — — 
Total TDRs$620 $578 $603 $645 $626 
Total TDRs - Loans by Portfolio
As of
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Total commercial TDRs$186 $202 $201 $252 $263 
Total investor real estate TDRs75 12 44 45 6 
Total consumer TDRs359 363 357 348 357 
Total TDRs - Loans$620 $577 $602 $645 $626 


17
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
`
Consolidated Balance Sheets (unaudited)
As of
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020
Assets:
Cash and due from banks$1,820 $1,918 $1,558 $1,972 $1,619 
Interest-bearing deposits in other banks23,774 23,002 16,398 11,501 11,579 
Debt securities held to maturity993 1,059 1,122 1,190 1,255 
Debt securities available for sale29,290 27,092 27,154 27,007 23,898 
Loans held for sale1,194 1,487 1,905 1,187 1,152 
Loans, net of unearned income 84,074 84,755 85,266 88,359 90,548 
Allowance for loan losses
(1,597)(1,976)(2,167)(2,276)(2,276)
Net loans82,477 82,779 83,099 86,083 88,272 
Other earning assets1,246 1,262 1,217 1,267 1,238 
Premises and equipment, net1,825 1,852 1,897 1,896 1,929 
Interest receivable323 336 346 347 343 
Goodwill5,181 5,181 5,190 5,187 5,193 
Residential mortgage servicing rights at fair value (MSRs)392 401 296 267 249 
Other identifiable intangible assets, net108 114 122 129 137 
Other assets6,987 6,848 7,085 7,147 7,206 
Total assets$155,610 $153,331 $147,389 $145,180 $144,070 
Liabilities and Equity:
Deposits:
Non-interest-bearing$56,468 $55,925 $51,289 $49,754 $47,964 
Interest-bearing75,016 73,677 71,190 68,691 68,815 
Total deposits131,484 129,602 122,479 118,445 116,779 
Borrowed funds:
Long-term borrowings2,870 2,916 3,569 4,919 6,408 
Other liabilities3,004 2,951 3,230 3,912 3,255 
Total liabilities137,358 135,469 129,278 127,276 126,442 
Equity:
Preferred stock, non-cumulative perpetual1,659 1,656 1,656 1,656 1,656 
Common stock10 10 10 10 10 
Additional paid-in capital12,467 12,740 12,731 12,714 12,703 
Retained earnings4,836 4,235 3,770 3,330 2,978 
Treasury stock, at cost(1,371)(1,371)(1,371)(1,371)(1,371)
Accumulated other comprehensive income, net651 592 1,315 1,565 1,626 
Total shareholders’ equity18,252 17,862 18,111 17,904 17,602 
Noncontrolling interest
— — — — 26 
Total equity
18,252 17,862 18,111 17,904 17,628 
Total liabilities and equity
$155,610 $153,331 $147,389 $145,180 $144,070 








18
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
End of Period Loans
As of
    6/30/20216/30/2021
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020 vs. 3/31/2021 vs. 6/30/2020
Commercial and industrial$42,628 $43,241 $42,870 $45,199 $47,670 $(613)(1.4)%$(5,042)(10.6)%
Commercial real estate mortgage—owner-occupied5,381 5,335 5,405 5,451 5,491 46 0.9 %(110)(2.0)%
Commercial real estate construction—owner-occupied245 293 300 305 314 (48)(16.4)%(69)(22.0)%
Total commercial48,254 48,869 48,575 50,955 53,475 (615)(1.3)%(5,221)(9.8)%
Commercial investor real estate mortgage 5,449 5,405 5,394 5,598 5,221 44 0.8 %228 4.4 %
Commercial investor real estate construction1,799 1,817 1,869 1,984 1,908 (18)(1.0)%(109)(5.7)%
Total investor real estate7,248 7,222 7,263 7,582 7,129 26 0.4 %119 1.7 %
Total business55,502 56,091 55,838 58,537 60,604 (589)(1.1)%(5,102)(8.4)%
Residential first mortgage17,051 16,643 16,575 16,195 15,382 408 2.5 %1,669 10.9 %
Home equity—lines of credit (1)
4,057 4,286 4,539 4,753 4,953 (229)(5.3)%(896)(18.1)%
Home equity—closed-end (2)
2,588 2,631 2,713 2,839 2,937 (43)(1.6)%(349)(11.9)%
Indirect—vehicles 621 768 934 1,120 1,331 (147)(19.1)%(710)(53.3)%
Indirect—other consumer 2,157 2,262 2,431 2,663 3,022 (105)(4.6)%(865)(28.6)%
Consumer credit card1,131 1,111 1,213 1,189 1,213 20 1.8 %(82)(6.8)%
Other consumer967 963 1,023 1,063 1,106 4 0.4 %(139)(12.6)%
Total consumer28,572 28,664 29,428 29,822 29,944 (92)(0.3)%(1,372)(4.6)%
Total Loans$84,074 $84,755 $85,266 $88,359 $90,548 $(681)(0.8)%$(6,474)(7.1)%
_______
(1)     The balance of Regions' home equity lines of credit consists of $2,261 million of first lien and $1,796 million of second lien at 6/30/2021.
(2)    The balance of Regions' closed-end home equity loans consists of $2,394 million of first lien and $194 million of second lien at 6/30/2021.

Adjusted Ending Balances of Loans (non-GAAP)
Regions believes adjusting ending loan balances for the impact of commercial loans transferred to held for sale, SBA PPP loans, the indirect-other consumer exit portfolio and the indirect-vehicles exit portfolio, provides a meaningful calculation of loan growth rates and presents them on the same basis as that applied by management.

As of
6/30/20216/30/2021
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020 vs. 3/31/2021 vs. 6/30/2020
Commercial and industrial$42,628 $43,241 $42,870 $45,199 $47,670 $(613)(1.4)%$(5,042)(10.6)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
— 210 239 — — (210)(100.0)%— NM
Less: SBA PPP Loans2,948 4,317 3,624 4,594 4,498 (1,369)(31.7)%(1,550)(34.5)%
Adjusted commercial and industrial loans (non-GAAP)$39,680 $39,134 $39,485 $40,605 $43,172 $546 1.4 %$(3,492)(8.1)%
Total commercial loans$48,254 $48,869 $48,575 $50,955 $53,475 $(615)(1.3)%$(5,221)(9.8)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
— 210 239 — — (210)(100.0)%— NM
Less: SBA PPP Loans2,948 4,317 3,624 4,594 4,498 (1,369)(31.7)%(1,550)(34.5)%
Adjusted total commercial loans (non-GAAP)$45,306 $44,762 $45,190 $46,361 $48,977 $544 1.2 %$(3,671)(7.5)%
Total business loans55,502 $56,091 $55,838 $58,537 $60,604 $(589)(1.1)%$(5,102)(8.4)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
— 210 239 — — (210)(100.0)%— NM
Less: SBA PPP Loans2,948 4,317 3,624 4,594 4,498 (1,369)(31.7)%(1,550)(34.5)%
Adjusted total business loans (non-GAAP)$52,554 $51,984 $52,453 $53,943 $56,106 $570 1.1 %$(3,552)(6.3)%
Total consumer loans$28,572 $28,664 $29,428 $29,822 $29,944 $(92)(0.3)%$(1,372)(4.6)%
Less: Indirect—other consumer exit portfolio (2)
858 971 1,101 1,240 1,406 (113)(11.6)%(548)(39.0)%
Less: Indirect—vehicles 621 768 934 1,120 1,331 (147)(19.1)%(710)(53.3)%
Adjusted total consumer loans (non-GAAP)$27,093 $26,925 $27,393 $27,462 $27,207 $168 0.6 %$(114)(0.4)%
Total loans$84,074 $84,755 $85,266 $88,359 $90,548 $(681)(0.8)%$(6,474)(7.1)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
— 210 239 — — (210)(100.0)%— NM
Less: SBA PPP Loans2,948 4,317 3,624 4,594 4,498 (1,369)(31.7)%(1,550)(34.5)%
Less: Indirect—other consumer exit portfolio (2)
858 971 1,101 1,240 1,406 (113)(11.6)%(548)(39.0)%
Less: Indirect—vehicles 621 768 934 1,120 1,331 (147)(19.1)%(710)(53.3)%
Adjusted ending total loans (non-GAAP)$79,647 $78,909 $79,846 $81,405 $83,313 $738 0.9 %$(3,666)(4.4)%
_______
(1)On December 31, 2020, Regions reclassified a certain portfolio of approximately $239 million of commercial and industrial loans to loans held for sale. On June 1, 2021, Regions made the decision not to sell the respective loans, therefore the remaining balance of approximately $193 million was reclassified back into the held for investment portfolio.
(2)In the fourth quarter of 2019, Regions decided not to renew a third party relationship.




19
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release

End of Period Loans (continued)
As of
End of Period Loans by Percentage6/30/20213/31/202112/31/20209/30/20206/30/2020
Commercial and industrial50.7 %51.0 %50.3 %51.2 %52.6 %
Commercial real estate mortgage—owner-occupied6.4 %6.3 %6.3 %6.2 %6.1 %
Commercial real estate construction—owner-occupied0.3 %0.3 %0.4 %0.3 %0.3 %
Total commercial57.4 %57.6 %57.0 %57.7 %59.0 %
Commercial investor real estate mortgage6.5 %6.4 %6.3 %6.3 %5.8 %
Commercial investor real estate construction2.1 %2.1 %2.2 %2.2 %2.1 %
Total investor real estate8.6 %8.5 %8.5 %8.5 %7.9 %
Total business66.0 %66.1 %65.5 %66.2 %66.9 %
Residential first mortgage20.3 %19.6 %19.4 %18.3 %17.0 %
Home equity—lines of credit 4.8 %5.1 %5.3 %5.4 %5.5 %
Home equity—closed-end 3.1 %3.1 %3.2 %3.2 %3.2 %
Indirect—vehicles 0.7 %0.9 %1.1 %1.3 %1.5 %
Indirect—other consumer 2.6 %2.7 %2.9 %3.0 %3.3 %
Consumer credit card1.3 %1.3 %1.4 %1.3 %1.3 %
Other consumer1.2 %1.2 %1.2 %1.3 %1.3 %
Total consumer34.0 %33.9 %34.5 %33.8 %33.1 %
Total Loans100.0 %100.0 %100.0 %100.0 %100.0 %


20
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release

Average Balances of Loans
 Average Balances
($ amounts in millions)2Q211Q214Q203Q202Q202Q21 vs. 1Q212Q21 vs. 2Q20
Commercial and industrial$43,140 $42,816 $43,889 $46,405 $49,296 $324 0.8 %$(6,156)(12.5)%
Commercial real estate mortgage—owner-occupied5,358 5,375 5,405 5,498 5,492 (17)(0.3)%(134)(2.4)%
Commercial real estate construction—owner-occupied276 303 303 318 312 (27)(8.9)%(36)(11.5)%
Total commercial48,774 48,494 49,597 52,221 55,100 280 0.6 %(6,326)(11.5)%
Commercial investor real estate mortgage5,521 5,375 5,549 5,324 5,150 146 2.7 %371 7.2 %
Commercial investor real estate construction1,761 1,847 1,899 1,974 1,869 (86)(4.7)%(108)(5.8)%
Total investor real estate7,282 7,222 7,448 7,298 7,019 60 0.8 %263 3.7 %
Total business 56,056 55,716 57,045 59,519 62,119 340 0.6 %(6,063)(9.8)%
Residential first mortgage16,795 16,606 16,433 15,786 14,884 189 1.1 %1,911 12.8 %
Home equity—lines of credit4,165 4,416 4,646 4,842 5,072 (251)(5.7)%(907)(17.9)%
Home equity—closed-end2,609 2,669 2,765 2,885 2,970 (60)(2.2)%(361)(12.2)%
Indirect—vehicles690 850 1,023 1,223 1,441 (160)(18.8)%(751)(52.1)%
Indirect—other consumer 2,174 2,352 2,514 2,835 3,111 (178)(7.6)%(937)(30.1)%
Consumer credit card1,108 1,151 1,190 1,194 1,230 (43)(3.7)%(122)(9.9)%
Other consumer954 995 1,048 1,086 1,137 (41)(4.1)%(183)(16.1)%
Total consumer28,495 29,039 29,619 29,851 29,845 (544)(1.9)%(1,350)(4.5)%
Total loans$84,551 $84,755 $86,664 $89,370 $91,964 $(204)(0.2)%$(7,413)(8.1)%

Adjusted Average Balances of Loans (non-GAAP)
Regions believes adjusting total average loans for the impact of commercial loans transferred to held for sale, SBA PPP loans, the indirect-other consumer exit portfolio and the indirect- vehicles exit portfolio, provides a meaningful calculation of loan growth rates and presents them on the same basis as that applied by management.
 Average Balances
($ amounts in millions)2Q211Q214Q203Q202Q202Q21 vs. 1Q212Q21 vs. 2Q20
Commercial and industrial$43,140 $42,816 $43,889 $46,405 $49,296 $324 0.8 %$(6,156)(12.5)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
138 231 3 — — (93)(40.3)%138 NM
Less: SBA PPP Loans3,901 3,798 4,143 4,558 3,213 103 2.7 %688 21.4 %
Adjusted commercial and industrial loans (non-GAAP)$39,377 $39,249 $39,749 $41,847 $46,083 $128 0.3 %$(6,706)(14.6)%
Total commercial loans$48,774 $48,494 $49,597 $52,221 $55,100 $280 0.6 %$(6,326)(11.5)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
138 231 3 — — (93)(40.3)%138 NM
Less: SBA PPP Loans3,901 3,798 4,143 4,558 3,213 103 2.7 %688 21.4 %
Adjusted total commercial loans (non-GAAP)$45,011 $44,927 $45,457 $47,663 $51,887 $84 0.2 %$(6,876)(13.3)%
Total business loans$56,056 $55,716 $57,045 $59,519 $62,119 $340 0.6 %$(6,063)(9.8)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
138 231 3 — — (93)(40.3)%138 NM
Less: SBA PPP Loans3,901 3,798 4,143 4,558 3,213 103 2.7 %688 21.4 %
Adjusted total business loans (non-GAAP)$52,293 $52,149 $52,905 $54,961 $58,906 $144 0.3 %$(6,613)(11.2)%
Total consumer loans$28,495 $29,039 $29,619 $29,851 $29,845 $(544)(1.9)%$(1,350)(4.5)%
Less: Indirect—other consumer exit portfolio (2)
909 1,034 1,164 1,318 1,493 (125)(12.1)%(584)(39.1)%
Less: Indirect—vehicles 690 850 1,023 1,223 1,441 (160)(18.8)%(751)(52.1)%
Adjusted total consumer loans (non-GAAP)$26,896 $27,155 $27,432 $27,310 $26,911 $(259)(1.0)%$(15)(0.1)%
Total loans$84,551 $84,755 $86,664 $89,370 $91,964 $(204)(0.2)%$(7,413)(8.1)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
138 231 3 — — (93)(40.3)%138 NM
Less: SBA PPP Loans3,901 3,798 4,143 4,558 3,213 103 2.7 %688 21.4 %
Less: Indirect—other consumer exit portfolio (2)
909 1,034 1,164 1,318 1,493 (125)(12.1)%(584)(39.1)%
Less: Indirect—vehicles 690 850 1,023 1,223 1,441 (160)(18.8)%(751)(52.1)%
Adjusted total loans (non-GAAP)$79,189 $79,304 $80,337 $82,271 $85,817 $(115)(0.1)%$(6,628)(7.7)%
(1)On December 31, 2020, Regions reclassified a certain portfolio of approximately $239 million of commercial and industrial loans to loans held for sale. On June 1, 2021, Regions made the decision not to sell the respective loans, therefore the remaining balance of approximately $193 million was reclassified back into the held for investment portfolio.
(2)In the fourth quarter of 2019, Regions decided not to renew a third party relationship.






21
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Average Balances of Loans (continued)

Average Balances
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Commercial and industrial$42,978 $44,907 $(1,929)(4.3)%
Commercial real estate mortgage—owner-occupied5,367 5,501 (134)(2.4)%
Commercial real estate construction—owner-occupied289 318 (29)(9.1)%
Total commercial48,634 50,726 (2,092)(4.1)%
Commercial investor real estate mortgage5,449 5,063 386 7.6 %
Commercial investor real estate construction1,804 1,770 34 1.9 %
Total investor real estate7,253 6,833 420 6.1 %
Total business 55,887 57,559 (1,672)(2.9)%
Residential first mortgage16,701 14,677 2,024 13.8 %
Home equity—lines of credit4,290 5,154 (864)(16.8)%
Home equity—closed-end2,639 3,004 (365)(12.2)%
Indirect—vehicles770 1,561 (791)(50.7)%
Indirect—other consumer 2,262 3,187 (925)(29.0)%
Consumer credit card1,129 1,289 (160)(12.4)%
Other consumer975 1,176 (201)(17.1)%
Total consumer28,766 30,048 (1,282)(4.3)%
Total Loans$84,653 $87,607 $(2,954)(3.4)%

Adjusted Average Balances of Loans (non-GAAP)
Regions believes adjusting total average loans for the impact of commercial loans transferred to held for sale, SBA PPP loans, the indirect- other consumer exit portfolio and the indirect vehicles exit portfolio, provides a meaningful calculation of loan growth rates and presents them on the same basis as that applied by management.
Average Balances
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Commercial and industrial$42,978 $44,907 $(1,929)(4.3)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
184 — 184 NM
Less: SBA PPP Loans3,850 1,606 2,244 139.7 %
Adjusted commercial and industrial loans (non-GAAP)$39,312 $43,301 $(3,989)(9.2)%
Total commercial loans$48,634 $50,726 $(2,092)(4.1)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
184 — 184 NM
Less: SBA PPP Loans3,850 1,606 2,244 139.7 %
Adjusted total commercial loans (non-GAAP)$44,968 $49,120 $(4,152)(8.5)%
Total business loans$55,887 $57,559 $(1,672)(2.9)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
184 — 184 NM
Less: SBA PPP Loans3,850 1,606 2,244 139.7 %
Adjusted total business loans (non-GAAP)$52,221 $55,953 $(3,732)(6.7)%
Total consumer loans$28,766 $30,048 (1,282)(4.3)%
Less: Indirect-other consumer exit portfolio (2)
971 1,595 (624)(39.1)%
Less: Indirect—vehicles 770 1,561 (791)(50.7)%
Adjusted total consumer loans (non-GAAP)$27,025 $26,892 $133 0.5 %
Total Loans$84,653 $87,607 $(2,954)(3.4)%
Add: Commercial loans held for sale reclassified to the portfolio(1)
184 — 184 NM
Less: SBA PPP Loans3,850 1,606 2,244 139.7 %
Less: Indirect—other consumer exit portfolio (2)
971 1,595 (624)(39.1)%
Less: Indirect—vehicles 770 1,561 (791)(50.7)%
Adjusted total loans (non-GAAP)$79,246 $82,845 $(3,599)(4.3)%

22
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Average Balance
Tweleve Months Ended
($ amounts in millions)December 31, 2020
Total Loans$87,813 
Add: Commercial loans transferred to held for sale(1)
1 
Less: SBA PPP Loans2,986 
Less: Indirect—other consumer exit portfolio (2)
1,417 
Less: Indirect—vehicles1,341 
Adjusted total loans (non-GAAP)$82,070 
(1)On December 31, 2020, Regions reclassified a certain portfolio of approximately $239 million of commercial and industrial loans to loans held for sale. On June 1, 2021, Regions made the decision not to sell the respective loans, therefore the remaining balance of approximately $193 million was reclassified back into the held for investment portfolio.
(2)In the fourth quarter of 2019, Regions decided not to renew a third party relationship.


23
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
End of Period Deposits
 As of
     6/30/20216/30/2021
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020 vs. 3/31/2021 vs. 6/30/2020
Interest-free deposits$56,468 $55,925 $51,289 $49,754 $47,964 $543 1.0 %$8,504 17.7 %
Interest-bearing checking25,512 24,757 24,484 22,294 22,407 755 3.0 %$3,105 13.9 %
Savings14,099 13,500 11,635 11,159 10,698 599 4.4 %$3,401 31.8 %
Money market—domestic30,725 30,448 29,719 29,387 29,263 277 0.9 %$1,462 5.0 %
Low-cost deposits126,804 124,630 117,127 112,594 110,332 2,174 1.7 %$16,472 14.9 %
Time deposits4,679 4,970 5,341 5,840 6,428 (291)(5.9)%$(1,749)(27.2)%
Total Customer Deposits131,483 129,600 122,468 118,434 116,760 1,883 1.5 %14,723 12.6 %
Corporate treasury time deposits1 2 11 11 19 (1)(50.0)%(18)(94.7)%
Total Deposits$131,484 $129,602 $122,479 $118,445 $116,779 $1,882 1.5 %$14,705 12.6 %
 As of
   6/30/20216/30/2021
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020 vs. 3/31/2021 vs. 6/30/2020
Consumer Bank Segment$78,428 $77,381 $71,652 $69,265 $68,616 $1,047 1.4 %$9,812 14.3 %
Corporate Bank Segment43,147 42,211 40,745 39,799 38,848 936 2.2 %4,299 11.1 %
Wealth Management Segment9,477 9,537 9,718 8,982 8,888 (60)(0.6)%589 6.6 %
Other (1)
432 473 364 399 427 (41)(8.7)%5 1.2 %
Total Deposits$131,484 $129,602 $122,479 $118,445 $116,779 $1,882 1.5 %$14,705 12.6 %
 As of
    6/30/20216/30/2021
($ amounts in millions)6/30/20213/31/202112/31/20209/30/20206/30/2020 vs. 3/31/2021 vs. 6/30/2020
Wealth Management - Private Wealth$8,614 $8,589 $8,462 $7,726 $7,816 $25 0.3 %$798 10.2 %
Wealth Management - Institutional Services863 948 1,256 1,256 1,072 (85)(9.0)%(209)(19.5)%
Total Wealth Management Segment Deposits$9,477 $9,537 $9,718 $8,982 $8,888 $(60)(0.6)%$589 6.6 %
As of
End of Period Deposits by Percentage6/30/20213/31/202112/31/20209/30/20206/30/2020
Interest-free deposits42.9 %43.2 %41.9 %42.0 %41.1 %
Interest-bearing checking19.4 %19.1 %20.0 %18.8 %19.2 %
Savings10.7 %10.4 %9.5 %9.4 %9.2 %
Money market—domestic23.4 %23.5 %24.3 %24.8 %25.1 %
Low-cost deposits96.4 %96.2 %95.7 %95.0 %94.6 %
Time deposits3.6 %3.8 %4.3 %5.0 %5.5 %
Total Deposits100.0 %100.0 %100.0 %100.0 %100.0 %
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).










24
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Average Balances of Deposits
Average Balances
($ amounts in millions)2Q211Q214Q203Q202Q202Q21 vs. 1Q212Q21 vs. 2Q20
Interest-free deposits$56,595 $51,839 $50,532 $48,314 $44,382 4,756 9.2 %12,213 27.5 %
Interest-bearing checking25,044 24,171 22,940 22,098 21,755 873 3.6 %3,289 15.1 %
Savings13,914 12,340 11,374 10,935 10,152 1,574 12.8 %3,762 37.1 %
Money market—domestic30,762 29,425 29,312 29,146 27,870 1,337 4.5 %2,892 10.4 %
Low-cost deposits126,315 117,775 114,158 110,493 104,159 8,540 7.3 %22,156 21.3 %
Time deposits4,813 5,158 5,598 6,150 6,690 (345)(6.7)%(1,877)(28.1)%
Total Customer Deposits131,128 122,933 119,756 116,643 110,849 8,195 6.7 %20,279 18.3 %
Corporate treasury time deposits1 4 11 13 72 (3)(75.0)%(71)(98.6)%
Corporate treasury other deposits3 — — — — 3 NM3 NM
Total Deposits$131,132 $122,937 $119,767 $116,656 $110,921 $8,195 6.7 %20,211 18.2 %
 Average Balances
($ amounts in millions)2Q211Q214Q203Q202Q202Q21 vs. 1Q212Q21 vs. 2Q20
Consumer Bank Segment$78,200 $72,949 $69,912 $68,842 $65,722 5,251 7.2 %12,478 19.0 %
Corporate Bank Segment42,966 40,285 40,581 38,755 36,409 2,681 6.7 %6,557 18.0 %
Wealth Management Segment9,519 9,281 8,884 8,658 8,382 238 2.6 %1,137 13.6 %
Other (1)
447 422 390 401 408 25 5.9 %39 9.6 %
Total Deposits$131,132 $122,937 $119,767 $116,656 $110,921 $8,195 6.7 %$20,211 18.2 %
 Average Balances
($ amounts in millions)2Q211Q214Q203Q202Q202Q21 vs. 1Q212Q21 vs. 2Q20
Wealth Management - Private Wealth$8,673 $8,442 $8,106 $7,723 $7,395 231 2.7 %1,278 17.3 %
Wealth Management - Institutional Services846 839 778 935 987 7 0.8 %(141)(14.3)%
Total Wealth Management Segment Deposits$9,519 $9,281 $8,884 $8,658 $8,382 $238 2.6 %$1,137 13.6 %


Average Balances
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Interest-free deposits$54,230 $39,294 14,936 38.0 %
Interest-bearing checking24,610 20,514 4,096 20.0 %
Savings13,132 9,487 3,645 38.4 %
Money market—domestic30,097 26,510 3,587 13.5 %
Low-cost deposits122,069 95,805 26,264 27.4 %
Time deposits4,984 6,996 (2,012)(28.8)%
Total Customer Deposits127,053 102,801 24,252 23.6 %
Corporate treasury time deposits3 175 (172)(98.3)%
Corporate treasury other deposits1 320 (319)(99.7)%
Total Deposits$127,057 $103,296 $23,761 23.0 %
Average Balances
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Consumer Bank Segment$75,589 $62,716 12,873 20.5 %
Corporate Bank Segment41,633 31,514 10,119 32.1 %
Wealth Management Segment9,401 8,228 1,173 14.3 %
Other (1)
434 838 (404)(48.2)%
Total Deposits$127,057 $103,296 $23,761 23.0 %
Average Balances
Six Months Ended June 30
($ amounts in millions)202120202021 vs. 2020
Wealth Management - Private Wealth$8,558 $7,229 1,329 18.4 %
Wealth Management - Institutional Services843 999 (156)(15.6)%
Total Wealth Management Segment Deposits$9,401 $8,228 $1,173 14.3 %
________
(1)Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar trade deposits, selected deposits and brokered time deposits).


25
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Reconciliation to GAAP Financial Measures
Tangible Common Ratios
The following tables provide the calculation of the end of period “tangible common shareholders’ equity” and "tangible common book value per share" ratios, and a reconciliation of shareholders’ equity (GAAP) to tangible common shareholders’ equity (non-GAAP). Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common shareholders' equity, we believe that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis.

  As of and for Quarter Ended
($ amounts in millions, except per share data) 6/30/20213/31/202112/31/20209/30/20206/30/2020
Tangible Common Ratios
Shareholders’ equity (GAAP)$18,252 $17,862 $18,111 $17,904 $17,602 
Less:
Preferred stock (GAAP)1,659 1,656 1,656 1,656 1,656 
Intangible assets (GAAP)5,289 5,295 5,312 5,316 5,330 
Deferred tax liability related to intangibles (GAAP)(96)(96)(106)(105)(103)
Tangible common shareholders’ equity (non-GAAP)A$11,400 $11,007 $11,249 $11,037 $10,719 
Total assets (GAAP)$155,610 $153,331 $147,389 $145,180 $144,070 
Less:
Intangible assets (GAAP)5,289 5,295 5,312 5,316 5,330 
Deferred tax liability related to intangibles (GAAP)(96)(96)(106)(105)(103)
Tangible assets (non-GAAP)B$150,417 $148,132 $142,183 $139,969 $138,843 
Shares outstanding—end of quarterC955 961 960 960 960 
Tangible common shareholders’ equity to tangible assets (non-GAAP)(1)
A/B7.58 %7.43 %7.91 %7.88 %7.72 %
Tangible common book value per share (non-GAAP)(1)
A/C$11.94 $11.46 $11.71 $11.49 $11.16 
_________
(1)Amounts have been calculated using whole dollar values.


26
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
Forward-Looking Statements
This release may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below:
•Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions.
•Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar
organizations, which could have a material adverse effect on our earnings.
•Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity.
•The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of the ongoing COVID-19 pandemic, which has disrupted the global economy, has and could continue to adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses. The pandemic could also result in goodwill impairment charges and the impairment of other financial and nonfinancial assets, and increase our cost of capital.
•Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in law, adverse changes in the economic environment, declining operations of the reporting unit or other factors.
•The effect of changes in tax laws, including the effect of any future interpretations of existing tax law or any enactment of new domestic tax legislation and corporate tax rates, which may impact our earnings, capital ratios and our ability to return capital to shareholders.
•Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases.
•Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses.
•Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities.
•Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs.
•Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income.
•Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are.
•Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue.
•Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors.
•Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the recent change in U.S. presidential administration and control of the U.S. Congress, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock or other regulatory capital instruments, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders.
•Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements.
•Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted.
•The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries.
•The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results.
•Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our business.
•Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives.
•The risks and uncertainties related to our acquisition or divestiture of businesses, including our pending acquisition of EnerBank and risks related to such acquisition including: the possibility that regulatory and other approvals and conditions are not received or satisfied on a timely basis or at all, or contain unanticipated terms and conditions; delays in closing the proposed transaction; expected synergies, cost savings and other financial or other benefits may not be realized within the expected timeframes or might be less than projected; difficulties in integrating the business; and the inability of Regions to effectively cross-sell products to EnerBank's customers.
•The success of our marketing efforts in attracting and retaining customers.

27
Regions Financial Corporation and Subsidiaries                                
Financial Supplement to Second Quarter 2021 Earnings Release
•Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time.
•Fraud or misconduct by our customers, employees or business partners.
•Any inaccurate or incomplete information provided to us by our customers or counterparties.
•Inability of our framework to manage risks associated with our business such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively.
•Dependence on key suppliers or vendors to obtain equipment and other supplies for our business on acceptable terms.
•The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts.
•The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses.
•The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and impact of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change.
•Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries.
•Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our business and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation.
•Our ability to achieve our expense management initiatives.
•Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans.
•Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets.
•The effects of a possible downgrade in the U.S. government’s sovereign credit rating or outlook, which could result in risks to us and general economic conditions that we are not able to predict.
•The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses.
•The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses.
•Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders.
•Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect.
•Other risks identified from time to time in reports that we file with the SEC.
•Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated.
•The effects of any damage to our reputation resulting from developments related to any of the items identified above.
The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2020 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 as filed with the SEC.
Further, statements about the potential effects of the COVID-19 pandemic on our businesses, operations and financial results and conditions may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including any resurgences), actions taken by governmental authorities in response to the COVID-19 pandemic and their success, the effectiveness and degree of acceptance of any vaccines, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us.
The words "future," “anticipates,” "assumes," “intends,” “plans,” “seeks,” “believes,” "predicts," "potential," "objectives," “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” "would," “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law.
Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551.

28
Exhibit 99.3 2nd Quarter Earnings Conference Call July 23, 2021

 
2 Second quarter 2021 overview (1) Non-GAAP, see appendix for reconciliation. Adjusted Pre-Tax Pre- Provision Income(1) Diluted Earnings Per Share Adjusted Total Revenue(1) Adjusted Non- Interest Expense(1) Net Income Available to Common Shareholders $668M $0.77 $1,563M $895M $748M • Adjusted pre-tax pre-provision income(1) increased 3% YoY • Adjusted efficiency ratio(1) improved 80bps YoY to 56.9% • Net charge-offs ratio improved 57bps YoY to 0.23%, matching lowest level in over a decade

 
3 Poised for growth Innovating through digital investments and enhancing our customer experiences to generate shareholder return Online and mobile banking enhancements Creation of omnichannel network Digitized sales within consumer bank- YTD digital sales up 53% Expanding E-signature capabilities Committed to continuous expansion of platforms and capabilities Leveraging AI in contact centers; virtual banker will handle over 1M customer calls this year Digital investments generate return Increased Mortgage Loan Originator (MLO) headcount by ~150(1) Added ~80 client facing associates in growth markets across Wealth Mgt. and Corporate Bank(1) Consolidated ~215 branches while opening ~75 De Novos(1) Business segments prove resilient Strong & recovering markets Expanding capabilities with bolt-on acquisitions: Contact centers ~100% remote; reducing corporate retail space EnerBank USA (pending) Ascentium Capital Highland Associates BlackArch Partners First Sterling Financial (1) Since 2017. (2) Source: Bureau of Labor Statistics based on June unemployment data. (3) Source: S&P Global Market Intelligence (4) Source: U.S. Postal Service. (5) Source: CoStar as of June 2021 for hotel occupancy and 2Q21 vs. 2Q20 growth for apartment rents. Top 4 deposit states have unemployment rates significantly below national average(2) ~60% of our top MSAs projected to grow faster than national average(3) 16 of top 25 markets with net migration inflows are within footprint(4) ~80% of top 10 MSAs with highest hotel occupancy and ~65% of top 25 MSAs with fastest YoY growth in apartment rents are within footprint(5)

 
4 Loans picking up momentum (1) Non-GAAP, see appendix for reconciliation. $83.3 $78.9 $79.6 56.1 52.0 52.5 27.2 26.9 27.1 2Q20 1Q21 2Q21 (Ending, $ in billions) $85.8 $79.3 $79.2 58.9 52.1 52.3 26.9 27.2 26.9 2Q20 1Q21 2Q21 Adjusted loans and leases(1) (Average, $ in billions) Adj. business loans(1)Adj. consumer loans(1) • Adjusted ending loans increased 1% QoQ, providing momentum for loan growth in 2H21. • Commercial pipelines have surpassed pre- pandemic levels, production remains strong, and utilization rates appear to have reached an inflection point during the quarter ending June at 39.6%. • Average PPP loans increased modestly QoQ, while ending PPP loans decreased 32% to $2.9B; includes $1.7B forgiveness in 2Q and $651M in 1Q. • Through 2Q, ~53% of total PPP loans have been forgiven; expect ~80% to be forgiven by year end. • Consumer loans reflected another strong quarter of mortgage production accompanied by modest growth in ending credit card. ◦ Continue to be impacted by run-off portfolios; expect run-off portfolios to have an average impact of ~$1.2B in FY21 and ~$700M in FY22. • Expect 2021 adjusted average loans to be down low single digits compared to 2020; adjusted ending loans are expected to grow low single digits. QoQ highlights & outlook

 
5 $110.9 $122.9 $131.1 65.7 72.9 78.2 36.4 40.3 43.08.4 9.3 9.5 0.4 0.4 0.4 2Q20 1Q21 2Q21 Deposit growth continues (1) Other deposits represent non-customer balances primarily consisting of wholesale funding (for example, Eurodollar deposits, selected deposits and brokered time deposits). Average deposits by segment ($ in billions) Wealth Mgt Other(1) Consumer Bank Corporate Bank • Pace of deposit growth has slowed, balances continued to increase to new record levels. • Average deposits grew across all three business segments QoQ, primarily due to higher account balances, but also from strong new account growth. ◦ YTD retail checking account growth 3.2% • Liquidity is expected to begin to normalize as the Federal Reserve becomes less accommodative. Reductions in asset purchases will mitigate future liquidity increases and curb further deposit growth. • Based on analysis of deposit inflow characteristics, we currently believe ~20%-30% of pandemic-related deposit increases will likely persist on the balance sheet. QoQ highlights & outlook

 
6 $985 $978 $975 3.19% 3.02% 2.81% 3.36% 3.40% 3.31% 2Q20 1Q21 2Q21 NII(1) Net interest income and net interest margin - liquidity impacts NII(1) and NIM ($ in millions) (1) Net interest income (NII) on a fully taxable-equivalent basis. (2) Non-GAAP; see appendix for reconciliation. NIM • In 2Q, deposit and cash balances remained elevated given stimulus / liquidity in the system. • PPP and cash account for -50 bps NIM and +$46M NII within the quarter (-12bps / +$4M QoQ) ◦ PPP loans account for +5 bps NIM and +$43M NII within the quarter (+1bps / +$3M QoQ) ◦ Excess cash accounts for -55 bps NIM and +$3M NII (-13bps / +$1M QoQ) • Total of ~$15B active balance sheet management since pandemic began, balancing risk and return including $2B cash which was deployed into securities in 2Q21. ◦ -10bps cumulative impact to adjusted NIM(2) from $5B post-pandemic securities additions. NIM excl. PPP/Cash(2)

 
7 • Rate environment impacts offset through active balance sheet management ◦ Hedging benefit of $104M NII in 2Q(3) ◦ Lower deposit pricing; 2Q deposit cost = 5bps / interest-bearing deposit cost = 9bps ◦ Pandemic cash management includes ~$5B securities adds ($2B at 1.2% in 2Q) and ~$10B long-term debt calls/maturities • Loan balance/mix impacts from: ◦ Strategic reduction of indirect loans ◦ Elevated paydowns on credit cards ◦ Muted C&I and mortgage growth early in 2Q (1) Core NII and adj. NIM excludes PPP and excess cash over $750M. Core NII and adjusted NIM are non-GAAP; see appendix for reconciliations. (2) Market rate impacts include the impacts of contractual loan, cash, and borrowings repricing; the impact of more securities premium amortization ($54mm, or -$3mm QoQ); and fixed asset turnover at lower market rates. (3) Hedges mostly remain active; $466M NII accrual since beginning of 2020; $1.2B unrealized pre-tax gain, to be amortized into NII over the remaining life of hedges ~4 years. (4) Non-GAAP, see appendix for reconciliation. $936 $929 Net interest income and net interest margin - core drivers Core(1) NII Attribution Drivers of Core NII and adjusted NIM(1) 2Q21 excl. PPP/cash 1Q21 excl. PPP/cash -3bps -2bps +1bps +1bps-4bps -$10M +$6M +$4M +$2M-$12M +$3M • Core(1) NII expected to grow in 2H21, after bottoming in 2Q21 ◦ Organic loan balances expected to grow, propelled by ~$740M(4) adjusted ending growth in 2Q ◦ Hedging, balance sheet management strategies, and deposit yields will continue to protect NII from a low rate environment; long-term rate pressure expected to become more neutral around year-end ◦ Uncertain timing of PPP forgiveness to benefit NII/NIM - currently assume modestly lower PPP NII in 3Q • Excluding PPP/cash, adjusted NIM(1) expected to be mostly stable in low-3.30s 2H 2021 Expectations NII NIM Other/ Days -2bps Loan bals/mix Cash mgmt. Market rates(2) Deposit pricing Offset ongoing impacts of reinvestment through balance sheet management strategies Loan hedges

 
8 • Service charges impacted by 3 additional business days. Changes in customer behavior and customer benefits from enhancements to overdraft practices and transaction posting are likely to keep service charges 10-15% below 2019 levels. • Expect capital markets to remain a strong contributor, generating quarterly revenue in the $55-$65M range on average, excluding the impact of CVA/DVA. • Wealth Mgt income impacted by strong production and favorable market conditions. • Mortgage income impacted by gain on sale compression and hedge performance, particularly around timing and market volatility. Believe pricing has stabilized and expect 2H21 production levels modestly lower than 1H21. • BOLI impacted by a single outsized claim. • Expect 2021 adjusted total revenue to be stable to up modestly from 2020 (dependent on timing & amount of PPP forgiveness). Change vs ($ in millions) 2Q21 1Q21 2Q20 Service charges on deposit accounts $163 3.8% 24.4% Card and ATM fees 128 11.3% 26.7% Capital markets income (excluding CVA/DVA) 65 (27.0)% 6.6% Capital Markets - CVA/DVA (4) (136.4)% (111.8)% Wealth management income 96 5.5% 21.5% Mortgage income 53 (41.1)% (35.4)% Bank-owned life insurance 33 94.1% 83.3% Market value adjustments (on employee benefit assets - other) 8 14.3% (50.0)% Other 77 26.2% 51.0% Total non-interest income $619 (3.4)% 8.0% Adjusted non-interest income(1) $600 (5.8)% 4.9% Non-interest income (1) Non-GAAP; see appendix for reconciliation. NM - Not Meaningful QoQ highlights & outlook

 
9(1) Non-GAAP; see appendix for reconciliation. (2) 2020 adjusted non-interest expenses include ~$60M of expense associated with the Ascentium acquisition that closed 4/1/2020. • Adjusted non-interest expenses impacted primarily by lower capital markets' incentive compensation, payroll taxes and legal and professional fees, partially offset by an increase in merit and marketing expenses. • Exceptionally strong credit performance is also contributing to elevated incentive compensation. • We expect 2021 adjusted non-interest expenses to be stable to up modestly from 2020, and quarterly adjusted non-interest expenses in the $880-890M range. • We remain committed to generating adjusted positive operating leverage over time. $3,387 $3,419 $3,434 $3,443 $3,541 2016 2017 2018 2019 2020 Non-interest expense QoQ highlights & outlookAdjusted non-interest expense(1) ($ in millions) $898 $918 $895 57.7% 56.8% 56.9% Adjusted non-interest expense Adjusted efficiency ratio 2Q20 1Q21 2Q21 ~1% CAGR (1) (1) (2)

 
10 1.71% 2.68% 2.44% 2.00%1.71% 2.82% 2.57% 2.07% ACL/Loans (incl. PPP) ACL/Loans (excl. PPP) Day 1 2Q20 1Q21 2Q21 $182 $83 $47 50 37 24 132 46 23 0.80% 0.40% 0.23% 2Q20 1Q21 2Q21 $614 $738 $666 395% 280% 253% 2Q20 1Q21 2Q21 NPLs and ACL coverage ratio Asset quality ($ in millions) ($ in millions) ($ in millions) Net charge-offs and ratio NPLs - excluding LHFS ACL/NPLs Consumer net charge-offs Business services net charge-offs Net charge-offs ratio (1) Non-GAAP; see appendix for reconciliation. (2) CECL Day 1 ratio is as of January 1, 2020. • 2Q annualized NCOs at 23bps, a 17bps improvement QoQ reflecting broad-based improvement & recoveries associated with strong collateral values. • Within consumer, home equity, mortgage and auto portfolios experienced net recoveries during the quarter. • $337M benefit to provision resulted in ACL of 2.00% of total loans (2.07%)(1) ex-PPP) • NPLs, delinquencies and criticized business loans all improved QoQ. • Further reductions in ACL will depend on continued evaluation of residual risks in the economy. • Expect full-year 2021 net charge-offs to range from 25 to 35bps. ACL to loans ratio (2) (1)

 
11 Capital and liquidity (1) Current quarter ratios are estimated. (2) Based on ending balances. • During 2Q, Regions declared $147M in common dividends. • Preliminary Stress Capital Buffer requirement for 4Q21 through 3Q22 will be floored at 2.5%. • Common Equity Tier 1 (CET1) ratio increased ~10 bps in 2Q to an estimated 10.4%; expect to manage CET1 between 9.25% - 9.75%. • Repurchased 8M shares of common stock for $179M in 2Q, temporarily pausing share repurchases until expected EnerBank transaction close date in 4Q21. Anticipate being back in the market in 4Q21 and expect to manage CET1 to the mid-point of operating range by year-end. • The Board of Directors declared a 10% increase to our quarterly common stock dividend to $0.17 per share. • Liquidity normalization is expected through time; however, the timing remains uncertain. Strong liquidity levels allow for management of potential large flows should they occur. Common equity Tier 1 ratio(1) 8.9% 10.3% 10.4% 2Q20 1Q21 2Q21 10.4% 11.9% 11.9% 2Q20 1Q21 2Q21 Tier 1 capital ratio(1) Loan-to-deposit ratio(2) 78% 65% 64% 2Q20 1Q21 2Q21 QoQ Highlights & Outlook

 
12 2021 expectations (1) Non-GAAP, see appendix for reconciliation. (2) The reconciliation with respect to forward-looking non-GAAP measures is expected to be consistent with actual non-GAAP reconciliations included in the attached appendix or in previous filings with the SEC. (3) Adjusted ending and average 2020 loans were revised in 2Q21 to remove impact of $239M of C&I loans moved to HFS on 12/31/2020 and then moved back to HFI on 6/1/2021. Category FY 2021 Expectations Total Adjusted Revenue (from adjusted 2020 of $6,206)(1)(2) Stable to up modestly (dependent on timing & amount of PPP forgiveness) Adjusted Non-Interest Expense (from adjusted 2020 of $3,541)(1)(2) Stable to up modestly Adjusted Average Loans (from adjusted 2020 of $82,070)(1)(2)(3) Down low single digits Adjusted Ending Loans (from adjusted 2020 of $79,846)(1)(2)(3) Up low single digits Net charge-offs / average loans 25-35 bps Effective tax rate 22-23% • Impacts from pending EnerBank USA acquisition are not considered in these expectations.

 
13 Appendix

 
14 Selected items impact Second quarter 2021 highlights (1) Non-GAAP, see appendix for reconciliation. (2) Based on income taxes at an approximate 25% incremental rate. (3) Items impacting results or trends during the quarter, but are not considered non-GAAP adjustments. These items generally include market-related measures, impacts of new accounting guidance, or event driven actions. (4) During the second quarter of 2021, the Company recognized an outsized tax-free BOLI claim benefit. (5) The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed. NM - Not Meaningful ($ amounts in millions, except per share data) 2Q21 QoQ Change YoY Change Net interest income $ 963 (0.4)% (0.9)% Provision for (benefit from) credit losses (337) 137.3% (138.2)% Non-interest income 619 (3.4)% 8.0% Non-interest expense 898 (3.2)% (2.8)% Income before income taxes 1,021 24.2% NM Income tax expense 231 28.3% NM Net income 790 23.1% NM Preferred dividends 42 50.0% 82.6% Net income available to common shareholders $ 748 21.8% NM Diluted EPS $ 0.77 22.2% NM Summary of second quarter results (amounts in millions, except per share data) 2Q21 Pre-tax adjusted items(1): Contribution to the Regions Financial Corporation foundation $ (1) Salary and employee benefits—severance charges (2) Securities gains (losses), net 1 Bank-owned life insurance(4) $ 18 Total pre-tax adjusted items(1) $ 16 After-tax preferred stock redemption expense(5) 13 Diluted EPS impact(2) $ — Additional selected items(3): CECL provision less than (in excess of) net charge-offs $ 384 Capital markets income - CVA/DVA (4) MSR net hedge performance (6) PPP loan interest/fee income 43

 
15 Providing transparency, simplicity and speed into how accounts work Making banking easier Improved Visibility and Transparency Expanded Alert Capabilities ◦ Balance alerts based on available balance ◦ Transaction alerts providing information in near real-time ◦ Automated email alerts for notification of overdraft as well as overdraft protection transfers ◦ 15% increase in alert subscriptions since April 28th Enhanced Views in Digital Channels ◦ Projected Available Balance that shows how much is expected to be available after nightly posting ◦ Clearer descriptions for pending transactions ◦ Addition of hold expiration dates ◦ New and refreshed hover box definitions for balances Intraday visibility of checks cleared ◦ Applies to personal Regions accounts Enhanced Product Features New Product - Coming Soon Simplified Transaction Posting Order ◦ Credits will continue to post first, consistent with prior practices ◦ Debits posted after credits, generally in the time order received Limiting Fees ◦ Lowered daily overdraft/non- sufficient fund fee caps for personal accounts ◦ Added daily overdraft/non- sufficient fund fee caps for small businesses accounts ◦ Reduced overdraft protection transfer fees Customer Education Tools ◦ Video series titled “Just a Minute” explaining how and when transactions are processed and tools to help manage finances ◦ Developed central hub on public facing Regions.com website providing information around changes ◦ Robust proactive customer and associate communication and training across channels around changes and enhancements New Checking Account Product – Coming Soon ◦ Product developed to standards provided by Bank On with certification expected to occur prior to launch ◦ No Overdraft, Non-sufficient Funds or Overdraft protection transfer fees ◦ Low monthly fee ◦ Regions Visa CheckCard with CashBack rewards ◦ Online & Mobile Banking with online bill pay ◦ Unlimited check writing capability ◦ Free LifeGreen Savings Account with savings bonus ◦ Expected to launch in 3Q 2021

 
16 1.31 2.03 2.28 2Q20 1Q21 2Q21 285 311 274 138 141 118 147 170 155 2Q20 1Q21 2Q21 2.8 3.0 3.1 2Q20 1Q21 2Q21 Mobile Banking Log-Ins 1.95 2.13 2.21 2Q20 1Q21 2Q21 19% 21% 21% 32% 32% 32% 49% 47% 46% 2Q20 1Q21 2Q21 70.2 82.4 86.4 61.0 72.0 73.9 2.9 2.9 4.36.3 7.4 8.2 2Q20 1Q21 2Q21 66% 67% 68% 34% 33% 32% 2Q20 1Q21 2Q21 Growth in digital Digital Banking Log-Ins(4) Customer Transactions Deposit Transactions by Channel 9% YoY (Millions) (Millions) Active Digital Banking Users Active Mobile Banking Users (Millions) 13% YoY Online Banking Log-Ins Loans Digital Sales(1) (Accounts in Thousands) Deposits Credit Card Accounts Digital Non-Digital Mobile ATM Branch (1) Digital sales represents accounts opened. (2) Digital transactions represent online and mobile only; Non-digital transactions represent branches, contact centers and ATMs. (3)Transactions represent Consumer customer deposits, transfers, mobile deposits, fee refunds, withdrawals, payments, official checks, transfers, bill payments, and Western Union. Excludes ACH and Debit Card purchases/refunds. (4) Digital Banking platforms experienced elevated login rates since the start of COVID-19, particularly around the timing of stimulus payments and PPP inquiries. (2)(3) Zelle Transactions (Millions) 75% YoY

 
17 1 2 3 4 5 6 • Recent terminations and resulting maturity profile well positioned for rising short-term rates in 2023 and beyond ◦ Notional reductions(2) - intended to ensure balanced rate risk position as higher rates become possible ◦ Securities offset(3) - $1.25B of swaps unwound to offset a portion of the asset duration added through $2B 2Q securities additions • Gains on terminated hedges deferred and amortized over the life of the initial contract, locking in the benefit to NII in future periods • LIBOR cessation is not expected to materially influence hedge effectiveness or future income recognition • Resulting NII profile able to: ◦ benefit from steepening yield curve, eventual rising short-term rates, and other potential tailwinds (e.g. loan growth/credit) ◦ limit downside and ensure NII stability in an environment where the Fed maintains its zero rate policy and loan growth does not manifest Long-term NII Sensitivity Profile to RatesHedge Notional Maturity Profile +1% to 1.5% 2021 2022 2023 2024 2025 2026 Hedge Notional $20.5B $20.5B $14.2B $11.3B $5.7B $1.3B 1mo. LIBOR 0.11% 0.22% 0.66% 1.14% 1.37% 1.55% 1mo. LIBOR Hedge Notional Forward Rates (3) (1,2,3) 1Q notional reductions - scenarios assume no loan growth in any scenario and no benefit from surge deposits under rising rates - includes cumulative benefits from asset reinvestment at higher rates (4) Forwards +50bps Cumulative NII growth (2021-2024) Flat rates Current Hedges No Hedges(5) +2.5% to 3% +3% to 3.5% 0% to -0.5% +1% to 1.5% -1.7% to -2.3% 2Q notional reductions 2Q unwinds offset by securities adds (1) Includes all active swaps/floors entered into prior to 6/30/2021. (2) Includes total hedge repositioning during 1Q21 and 2Q21 of $6.3B, reducing average annual notional by -$5.3B in 2023 and -$4.0B in 2024. (3) Includes $1.25B of swap unwinds to offset Securities additions in 2Q21 (4) 6/30/2021 market implied forwards, annual average. (5) "No hedges" scenario includes the unwind of all cash-flow hedges today; current gain is deferred and amortized over the life of the contracts, locking in the NII benefit and adding interest rate exposure Hedging strategy update

 
18 3M U ST 6M U ST 1Y U ST 2Y U ST 3Y U ST 5Y U ST 7Y U ST 10 Y UST 15 Y Pr im ar y 30 Y Pr im ar y 15 Y Se co nd ar y 30 Y Se co nd ar y 0.00% 0.50% 1.00% 1.50% 2.00% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% (1) Includes both scheduled and unscheduled maturities for fixed assets as of 5/31/21 excl. PPP (2) Expected 2022 fixed loan and securities production excl. PPP and EnerBank (3) Stable yield production mainly from Ascentium and SOFI based on relative yield stability through the cycle Spot Yield Curve NII exposure to the yield curve • Historically, Bank valuations are closely correlated with the steepness of the yield curve ◦ The typical indicator for steepness often used is the 10yr-2yr Treasury spread ◦ Regions’ exposure is more closely tied to the middle of the yield curve and Mortgage rates ◦ The yield curve flattened over 2Q21, but the 5yr UST and Mortgage Rates were more stable than the 10yr point on the curve <2 Years 3-4 Years 5-6 Years 7-8 Years 8-10 Years >10 Years $0 $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 11% 33% 26% 30% Fixed Asset Maturities(1) ~$16B Annual Fixed Asset Production(2) Fixed Loans - Stable Yield(3) (Little yield movement) Fixed Loans - Responsive Yield (Priced off middle tenors) Resi. Mtg. Loans (Primary Mtg.) Securities (Secondary Mtg.) Fixed Loans Loan Hedges Resi. Mtg. Loans Securities 3/31/21 Rates 7/21/21 Rates 5Y UST: -18bps 74% of fixed rate assets mature in 6yrs or less excl. hedges 10Y UST: -46bps 30Y Mtg: -29bps M ortgage Rates U S Tr ea su ry R at es ($ in millions)

 
19 Pe er 1 Pe er 2 Pe er 3 Pe er 4 Pe er 5 Pe er 6 Pe er 7 RF Pe er 8 Pe er 9 Pe er 1 0 Pe er 1 1 Pe er 1 2 Pe er 1 3 0% 20% Added bonds increase RF Sec/EA from 20% to 21% in 2Q Peer Median: 22% EOP Securities / Total Earning Assets (1Q21)(2) • Recent liquidity inflows represent an NII opportunity, with cash deployment dependent on: ◦ stability of deposit inflows ◦ return levels on potential asset purchases ◦ demand for loan growth • Regions will take a conservative approach to cash deployment over time given uncertainty in these factors • Pandemic-related deposit growth is expected to be more rate sensitive; yet, analysis points to the potential for some amount to be more stable ◦ As the segments of greater certainty evolve, we will adjust investments dynamically • Added $2B of securities in 2Q21 to support near- term earnings stability (total of $5B since 3Q20) ◦ Mix of MBS, corporate bonds, and Treasury notes ◦ Purchases limit spread risk/duration and prepayment sensitivity ◦ $1.25B 2026 maturity swaps unwound to offset added asset duration (1) Includes Regular and Life Green Savings products that have shown predicable patterns through pre-pandemic cycles; understanding subject to change as the environment evolves. (2) Source: SNL Financial, SEC Reporting. 1Q21 peer bank information latest available. ~$34B Deposit Growth (Dec 2019 to May 2021) • Deposit growth broadly distributed across products, businesses, and industries • 66% of growth in NIB checking balances • Mix of growth by business: Consumer 57%, Corporate 44%%, Wealth 4%, Other -5% • Of Consumer & Wealth growth: ◦ 26% in historically-stable savings products(1) ◦ 22% in new consumer household relationships Balance sheet management Cash management update

 
20 ($ in millions) 2Q20 3Q20 4Q20 1Q21 2Q21 Round 1-average $ 3,213 $ 4,558 $ 4,143 $ 3,171 $ 2,401 Round 2-average — — — 627 1,500 Total-average $ 3,213 $ 4,558 $ 4,143 $ 3,798 $ 3,901 NII(1) $ 18 $ 31 $ 54 $ 40 $ 43 Round 1-ending $ 4,498 $ 4,594 $ 3,624 $ 2,974 $ 1,438 Round 2-ending — — — 1,343 1,510 Total-ending $ 4,498 $ 4,594 $ 3,624 $ 4,317 $ 2,948 Balance forgiven $ — $ — $ 970 $ 651 $ 1,655 PPP loan details • Through 2Q21, approximately 62% of total estimated program fees have been recognized (~$91 in remaining unamortized fees) • Expect ~80% of total $6.2B PPP loans to be forgiven by year-end 2021. (1) NII recognized during the period includes contractual loan yields and amortization of loan fees (including accelerated forgiveness).

 
21 10.3% 0.6% 0.2% (0.1)% (0.1)% (0.1)% (0.2)% (0.2)% 10.4% CET1 waterfall (1) Non-GAAP; see appendix for reconciliation. (2) Provision benefit includes the impact of CECL deferral. (3) Preferred Expense includes preferred dividends and one-time impact of retiring Series A Preferred Stock. (4) Current quarter ratios are estimated and reflect rounding. 1Q21 CET1% Pre-tax pre- provision income(1) Common Dividend 2Q21 CET1%(4) Provision benefit(2) Tax & Other Preferred expense(3) Share Repurchases Increase in RWAs

 
22 Regions Preferred Par Value 2Q21 3Q21E 4Q21E Series A $500.0 $21.8 $— $— Series B $500.0 $8.0 $8.0 $8.0 Series C $500.0 $7.1 $7.1 $7.1 Series D $350.0 $5.0 $5.0 $5.0 Series E $400.0 $— $6.5 $4.5 Total $41.9 $26.6 $24.6 2Q21 - 4Q21 projected preferred stock expense ($ in millions) • Series A shares were redeemed on June 15, 2021 at par; upon redemption, $13M of related issuance costs was recorded as a reduction to net income available to common shareholders through preferred expense. • The 3Q dividend for Series E will include a long first dividend period to include accrual since settlement on May 4, 2021. The 4Q dividend reflects the expected quarterly run- rate.

 
23 Changes in Portfolio Risk & Balances $2,068 $(47) $(265) $(72) $1,684 Allowance for credit losses waterfall Changes in Economic Outlook & Adjustments Net Charge- Offs 6/30/2021 • 2Q ending allowance decreased $384M due to continued improvement in the economic outlook and expectations of improving credit performance in certain sectors / clients. • The benefits of the improving economic outlook were partially offset by elevated levels of imprecision due to continued uncertainty regarding the timing of full economic recovery. QoQ highlights ($ in millions) 3/31/2021

 
24 Pre-R&S period 2Q2021 3Q2021 4Q2021 1Q2022 2Q2022 3Q2022 4Q2022 1Q2023 2Q2023 Real GDP, annualized % change 6.8 % 6.1 % 6.2 % 5.1 % 3.4 % 3.0 % 2.3 % 2.3 % 2.1 % Unemployment rate 5.8 % 5.2 % 4.9 % 4.6 % 4.4 % 4.2 % 4.0 % 3.9 % 3.8 % HPI, year-over-year % change 13.6 % 12.6 % 9.7 % 6.9 % 3.7 % 2.8 % 3.1 % 3.3 % 3.4 % S&P 500 4,171 4,230 4,247 4,273 4,303 4,329 4,349 4,381 4,411 Base R&S economic outlook (as of June 2021) • Economic forecasts represent Regions’ internal outlook for the economy over the reasonable & supportable forecast period. • Given improvements in the economic outlook, management considered alternative analytics to support qualitative additions to the modeled results to reflect continued risk and uncertainty in certain portfolios.

 
25 As of 6/30/21 As of 12/31/20 (in millions) Loan Balance ACL ACL/Loans Loan Balance ACL ACL/Loans C&I $42,628 $756 1.77 % $42,870 $1,027 2.40 % CRE-OO mortgage 5,381 150 2.79 % 5,405 242 4.47 % CRE-OO construction 245 13 5.37 % 300 24 7.98 % Total commercial $48,254 $919 1.90 % $48,575 $1,293 2.66 % IRE mortgage 5,449 85 1.57 % 5,394 167 3.10 % IRE construction 1,799 19 1.03 % 1,869 30 1.58 % Total IRE $7,248 $104 1.43 % $7,263 $197 2.71 % Residential first mortgage 17,051 130 0.76 % 16,575 155 0.94 % Home equity lines 4,057 104 2.56 % 4,539 122 2.69 % Home equity loans 2,588 32 1.23 % 2,713 33 1.23 % Indirect-vehicles 621 8 1.27 % 934 19 2.04 % Indirect-other consumer 2,157 183 8.50 % 2,431 241 9.92 % Consumer credit card 1,131 130 11.46 % 1,213 161 13.30 % Other consumer 967 74 7.66 % 1,023 72 7.01 % Total consumer $28,572 $661 2.31 % $29,428 $803 2.73 % Total $84,074 $1,684 2.00 % $85,266 $2,293 2.69 % Government guaranteed PPP loans 2,948 3 0.10 % 3,624 1 — Total, excluding PPP loans(1) $81,126 $1,681 2.07 % $81,642 $2,292 2.81 % Allowance allocation (1) Non-GAAP; see appendix for reconciliation. Note - All PPP loans are included in C&I. Excluding PPP loans from that category would increase the ACL ratio for C&I loans to 1.90%.

 
26 • Proactive, frequent customer dialogue • Closely monitoring most vulnerable customers • Monitoring ratings migration Bottom up review informs and narrows COVID-19 high-risk industry sectors (as of June 30, 2021) C&I Portfolio BAL$(1) % of BAL$ Utilization Rate(2) % Criticized Energy – Oil & Gas Extraction, Oilfield Services, Coal $1.02b 1.2% 50% 27% Consumer Services & Travel – Amusement, Arts and Recreation, Charter Bus Industry, Taxi & Limousine Service $0.62b 0.7% 77% 8% Retail (non-essential) – Clothing, Miscellaneous Store Retailers $0.21b 0.3% 46% 4% Restaurants – Full Service $0.56b 0.7% 67% 51% Total C&I high-risk industry sectors $2.41b 2.9% 58% 26% CRE related exposures including unsecured C&I BAL$(1) % of BAL$ Utilization Rate(2) % Criticized IRE Hotels – Full service, limited service, extended stay $0.30b 0.4% 96% 95% Total CRE-related high-risk industry sectors $0.30b 0.4% 96% 95% Total $2.71b (1) Amounts exclude PPP Loans, Operating Leases and Held For Sale exposure. (2) Borrowing Base Adjusted Commitments, excludes PPP, Operating Leases and Loans Held For Sale. Ongoing Portfolio Surveillance

 
27 $3.36 $0.22 $(0.20) $(0.22) $(0.45) $2.71 COVID-19 high-risk industry sectors waterfall ($ in billions) Removal of Specifically Identified Assets • COVID high-risk industries are continuously refined to those exhibiting higher levels of stress due to COVID impact • Previous specifically identified at-risk assets were removed from the methodology • Several sub-sectors were removed, including but not limited to: ◦ Offices of Physicians in Healthcare ◦ Personal Care Services in Consumer Services & Travel • Several sub-sectors were added, including but not limited to: ◦ Miscellaneous Store Retailers in C&I Retail (non-essential) ◦ Coal in Energy ◦ Taxi & Limousine Service in Consumer Services & Travel QoQ highlights 3/31/2021 High-Risk Balances Other Activity(1) 6/30/2021 High-Risk Balances (1) Other activity includes payments, charge-offs, new loans, moves to held for sale and NAICs changes. Sector Deletions Sector Additions

 
28 • Headquartered in Salt Lake City, UT, EnerBank USA originates prime and super-prime home improvement point-of-sale loans through a national network of contractors • A top 5 originator in the home improvement point-of- sale space, one of the fastest growing segments in consumer lending • Experienced and tenured management team with nearly 20-year track record operating in a regulated bank environment • EnerBank is owned by CMS Energy, a Michigan-based energy company ◦ Non-core business for CMS Company Overview EnerBank USA acquisition Top Home Improvement Projects Financed Portfolio Overview Roofing & Siding Windows & Doors Notable Company Metrics (as of March 31, 2021) Contractor Network 10,000+ Loan Balances(2) ~$2.8B Average Customer FICO ~763 Average Annual Net Losses <1.5% Gross Loan Effective Yield(3) ~9% Yield of acquired loans after marking to fair value(3) ~6-7% Deposit Cost(4) ~1.5% Efficiency Ratio <40% (1) LTM as of March 31, 2021; (2) Loan size is on average $14,000 with weighted average life of ~3 years; (3) On average, 6-7% of the loan yield is paid by the consumer, 2-3% is paid by the contractor; contractor discount of acquired loans are recognized at purchase as part of fair value mark; new originations will yield ~9% (4) $2.7B of outstanding non-transaction deposits; WAL of deposits is ~2 years; Regions will replace EnerBank's funding base over time Pools HVAC LTM Originations Heat Map(1) ~55% of LTM originations in Regions retail footprint Solar

 
29 Home improvement point-of-sale finance complements these investments, extends our suite of home-centric lending products and accelerates our vision to be the premier lender to homeowners EnerBank USA acquisition Home Improvement Point-of-Sale Financing Deepens Regions' Commitment to Being the Premier Lender to Homeowners Regions' extensive risk and product experience in home improvement point-of-sale finance, developed through a legacy partnership with a third-party home improvement loan originator, strengthened our interest in permanently adding this capability to the Regions franchise Regions has been on a multi-year journey investing in products, services and omni-channel origination capabilities central to Mortgage Lending, Mortgage Servicing and Home Equity Lending. As a result of these investments, Regions has continued to gain share through customer growth and deepening existing relationships with over four million households Fixed-rate loan portfolio diversifies Regions' balance sheet Significant opportunity to deepen relationships with EnerBank's customers through our traditional banking product suite Strong cultural fit with EnerBank's risk management-oriented leadership team and proven underwriting processes Other Strategic Benefits The business generates strong financial returns with proven performance through economic cycles Alignment with Inorganic Growth Strategy The acquisition of EnerBank continues Regions' strategy of acquiring businesses that help deepen relationships with customers by serving more of their needs through new channels, products & capabilities

 
30 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '21 —% 2.00% 4.00% EnerBank USA acquisition Proven Performance Through Cycles Historical NCOs as a % of Average Loans NCOs peaked at 2.19% during the 2008 Crisis Deferrals during COVID peaked around 2% (1) (1) 2021 is LTM as of March 31, 2021; (2) Merger of EnerBank into Regions Bank is structured as an asset purchase for tax purposes; Step-up calculated based on current tax rates; (3) Balance as of 3/31/2021; (4) Estimated Fair Value based on current market conditions and excluding impact of Day 1 CECL double-count; (5) Estimated Day 1 CECL double-count is ~$115 million, after-tax; (6) Assumes provision equals charge-offs over time and includes RF cost of funds; (7) PAA - "Purchase Accounting Adjustments"; No foregone share repurchase scenario for illustrative purposes only; (8) Includes CECL double-count and foregone share repurchases to fund transaction; (9) Excludes the impact of PAA Modeling Considerations Valuation ($ in millions) Purchase Price $960 Est. Value of Tax Step-Up(2) $70 Est. Core Business Consideration $890 Tangible Book Value (TBV)(3) $318 Fair Value of Net Assets at closing(4)(5) $415 - $445 Returns Internal Rate of Return 15%+ ROAA (run-rate)(6) ~2.5% ROATCE (run-rate)(6) ~25% Transaction Impacts EPS (including PAA(7)) - No foregone share repurchases 2022- Accretive, low single digit % Medium Term- Accretive, 5%+ EPS (including PAA) - w/ foregone share repurchases 2022- Dilutive, low single digit % Medium Term- Accretive, low single digit % Est. TBV Dilution(8) 1-2% Est. Core NIM (run-rate)(9) +10-15 bps Est. Core Efficiency Ratio (run-rate) -100 bps Prime/Super-prime focus and well controlled underwriting processes have generated best in class credit metrics through economic cycles Financial Upside • Limited cost and no revenue synergies modeled • Tangible potential for revenue synergies by deepening consumer and SMB relationships with RF full product set • Opportunity to deploy current excess liquidity into high growth loan portfolio

 
31 • Balance growth will continue at robust levels due to increases in annual originations in recent years as well as reductions in the amount of loans sold to third parties • If EnerBank continues on current path, the portfolio will double within five years • Material room to run in the market based on current market share EnerBank USA acquisition Home Improvement Finance Market Opportunity(1) Loan Balances(3) • Industry and product are not yet mature - Highly fragmented industry with EnerBank well-positioned for growth • Industry is growing in size - Top line industry growth and mix shift away from cash and credit cards is expanding the pie • Lending economics are strong - Attractive risk- adjusted yields and returns on capital Professional Market(2): $156B Home Improvement Expenditures: $506B 8.1% Annual growth from 2018 - 2021 Top 5 Lenders (including EnerBank): $14B Originations ~9% Share (1) Source: American Housing Survey, Bankrate, EnerBank, John Burns Real Estate Consulting. (2) The Professional Market is defined as non-DIY home improvement expenditures, including materials and labor. (3) Source: gross loans per bank Call Reports. Home improvement financing at the point-of-sale is an attractive business with compelling long-term prospects $0.5 $0.7 $0.9 $1.2 $1.3 $1.4 $1.9 $2.5 $3.0 '12 '13 '14 '15 '16 '17 '18 '19 '20 Sustained Growth (in billions) Regions estimates balances to grow at low double digit growth rates for the next several years

 
32 Environmental & social highlights Continuous Improvement in Sustainability • 2023 goals: 30% reduction in both greenhouse gas emissions and energy use • Sustainable lending in renewable energy • Sustainable investing through ESG- focused investment products • Environmental & social risk management initiatives Focus on the Customer • Regions Now Banking® • Regions Affordable Mortgage • Small Business products and services • Fair & Responsible Lending Policy • Regions360® approach • Bank Your Way Advancement of Diversity, Equity, & Inclusion (DEI) • 10 focused DEI Networks • Week of Understanding and Listening Tours • Market-Level Table Talks • Supplier Code of Conduct • Human Rights Statement Suite of ESG Disclosures • Annual Review & ESG Report • GRI Content Index • CDP Climate Change Questionnaire Response • SASB Disclosure • TCFD Report Recognition Sustainalytics ESG Risk Rating: Low-Risk State Street Global Advisors R-Factor Score: 64 MSCI ESG Rating: AA Human Rights Campaign 2021 Corp. Equality Index: 100 JUST Capital Named to 2021 JUST 100 All available at ir.regions.com/governance S&P Global Included in S&P 500 ESG Index

 
33 Management uses pre-tax pre-provision income (non-GAAP) and adjusted pre-tax pre-provision income (non-GAAP), as well as the adjusted efficiency ratio (non-GAAP) and the adjusted fee income ratio (non-GAAP) to monitor performance and believes these measures provide meaningful information to investors. Non-interest expense (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest expense (non-GAAP), which is the numerator for the efficiency ratio. Non-interest income (GAAP) is presented excluding certain adjustments to arrive at adjusted non-interest income (non-GAAP), which is the numerator for the fee income ratio. Adjusted non-interest income (non-GAAP) and adjusted non-interest expense (non- GAAP) are used to determine adjusted pre-tax pre-provision income (non-GAAP). Net interest income (GAAP) on a taxable-equivalent basis and non-interest income are added together to arrive at total revenue on a taxable-equivalent basis. Adjustments are made to arrive at adjusted total revenue on a taxable-equivalent basis (non-GAAP), which is the denominator for the fee income and efficiency ratios. Regions believes that the exclusion of these adjustments provides a meaningful base for period-to-period comparisons, which management believes will assist investors in analyzing the operating results of the Company and predicting future performance. These non-GAAP financial measures are also used by management to assess the performance of Regions’ business. It is possible that the activities related to the adjustments may recur; however, management does not consider the activities related to the adjustments to be indications of ongoing operations. Regions believes that presentation of these non-GAAP financial measures will permit investors to assess the performance of the Company on the same basis as that applied by management. The allowance for credit losses (ACL) as a percentage of total loans is an important ratio, especially during periods of economic stress. Management believes this ratio provides investors with meaningful additional information about credit loss allowance levels when the impact of SBA's Paycheck Protection Program loans, which are fully backed by the U.S. government, and any related allowance are excluded from total loans and total allowance which are the denominator and numerator, respectively, used in the ACL ratio. This adjusted ACL ratio represents a non-GAAP financial measure. Tangible common stockholders’ equity ratios have become a focus of some investors and management believes they may assist investors in analyzing the capital position of the Company absent the effects of intangible assets and preferred stock. Analysts and banking regulators have assessed Regions’ capital adequacy using the tangible common stockholders’ equity measure. Because tangible common stockholders’ equity is not formally defined by GAAP or prescribed in any amount by federal banking regulations it is currently considered to be a non- GAAP financial measure and other entities may calculate it differently than Regions’ disclosed calculations. Since analysts and banking regulators may assess Regions’ capital adequacy using tangible common stockholders’ equity, management believes that it is useful to provide investors the ability to assess Regions’ capital adequacy on this same basis. Non-GAAP financial measures have inherent limitations, are not required to be uniformly applied and are not audited. Although these non-GAAP financial measures are frequently used by stakeholders in the evaluation of a company, they have limitations as analytical tools, and should not be considered in isolation, or as a substitute for analyses of results as reported under GAAP. In particular, a measure of earnings that excludes selected items does not represent the amount that effectively accrues directly to stockholders. Management and the Board of Directors utilize non-GAAP measures as follows: • Preparation of Regions' operating budgets • Monthly financial performance reporting • Monthly close-out reporting of consolidated results (management only) • Presentation to investors of company performance • Metrics for incentive compensation Non-GAAP information

 
34 Non-GAAP reconciliation: core net interest income and adjusted net interest margin Quarter-ended 6/30/2021 3/31/2021 Net interest income (FTE) (GAAP) $ 975 $ 978 Impact of SBA PPP loans (43) (40) Impact of excess cash (3) (2) Core net interest income (FTE) (non-GAAP) $ 929 $ 936 Net interest margin (FTE) (GAAP) 2.81 % 3.02 % Impact of SBA PPP loans (0.05) % (0.04) % Impact of excess cash 0.55 % 0.42 % Adjusted net interest margin (FTE) (non-GAAP) 3.31 % 3.40 % NM - Not Meaningful

 
35 Non-GAAP reconciliation: adjusted average loans Average Balances ($ amounts in millions) 2Q21 1Q21 4Q20 3Q20 2Q20 2Q21 vs. 1Q21 2Q21 vs. 2Q20 Commercial and industrial $ 43,140 $ 42,816 $ 43,889 $ 46,405 $ 49,296 $ 324 0.8 % $ (6,156) (12.5) % Add: Commercial loans held for sale reclassified to the portfolio 138 231 3 — — (93) (40.3) % 138 NM Less: SBA PPP Loans 3,901 3,798 4,143 4,558 3,213 103 2.7 % 688 21.4 % Adjusted commercial and industrial loans (non-GAAP) $ 39,377 $ 39,249 $ 39,749 $ 41,847 $ 46,083 $ 128 0.3 % $ (6,706) (14.6) % Total commercial loans $ 48,774 $ 48,494 $ 49,597 $ 52,221 $ 55,100 $ 280 0.6 % $ (6,326) (11.5) % Add: Commercial loans held for sale reclassified to the portfolio 138 231 3 — — (93) (40.3) % 138 NM Less: SBA PPP Loans 3,901 3,798 4,143 4,558 3,213 103 2.7 % 688 21.4 % Adjusted total commercial loans (non-GAAP) $ 45,011 $ 44,927 $ 45,457 $ 47,663 $ 51,887 $ 84 0.2 % $ (6,876) (13.3) % Total business loans $ 56,056 $ 55,716 $ 57,045 $ 59,519 $ 62,119 $ 340 0.6 % $ (6,063) (9.8) % Add: Commercial loans held for sale reclassified to the portfolio 138 231 3 — — (93) (40.3) % 138 NM Less: SBA PPP Loans 3,901 3,798 4,143 4,558 3,213 103 2.7 % 688 21.4 % Adjusted total business loans (non-GAAP) $ 52,293 $ 52,149 $ 52,905 $ 54,961 $ 58,906 $ 144 0.3 % $ (6,613) (11.2) % Total consumer loans $ 28,495 $ 29,039 $ 29,619 $ 29,851 $ 29,845 $ (544) (1.9) % $ (1,350) (4.5) % Less: Indirect—other consumer exit portfolio 909 1,034 1,164 1,318 1,493 (125) (12.1) % (584) (39.1) % Less: Indirect—vehicles 690 850 1,023 1,223 1,441 (160) (18.8) % (751) (52.1) % Adjusted total consumer loans (non-GAAP) $ 26,896 $ 27,155 $ 27,432 $ 27,310 $ 26,911 $ (259) (1.0) % $ (15) (0.1) % Total loans $ 84,551 $ 84,755 $ 86,664 $ 89,370 $ 91,964 $ (204) (0.2) % $ (7,413) (8.1) % Add: Commercial loans held for sale reclassified to the portfolio 138 231 3 — — (93) (40.3) % 138 NM Less: SBA PPP Loans 3,901 3,798 4,143 4,558 3,213 103 2.7 % 688 21.4 % Less: Indirect—other consumer exit portfolio 909 1,034 1,164 1,318 1,493 (125) (12.1) % (584) (39.1) % Less: Indirect—vehicles 690 850 1,023 1,223 1,441 (160) (18.8) % (751) (52.1) % Adjusted total loans (non-GAAP) $ 79,189 $ 79,304 $ 80,337 $ 82,271 $ 85,817 $ (115) (0.1) % $ (6,628) (7.7) % NM - Not Meaningful

 
36 Non-GAAP reconciliation: adjusted full year average loans Average Balance Tweleve Months Ended ($ amounts in millions) December 31, 2020 Total Loans $ 87,813 Add: Commercial loans held for sale reclassified to the portfolio 1 Less: SBA PPP Loans 2,986 Less: Indirect—other consumer exit portfolio 1,417 Less: Indirect—vehicles 1,341 Adjusted total loans (non-GAAP) $ 82,070 NM - Not Meaningful

 
37 Non-GAAP reconciliation: adjusted ending loans As of 6/30/2021 6/30/2021 ($ amounts in millions) 6/30/2021 3/31/2021 12/31/2020 9/30/2020 6/30/2020 vs. 3/31/2021 vs. 6/30/2020 Commercial and industrial $ 42,628 $ 43,241 $ 42,870 $ 45,199 $ 47,670 $ (613) (1.4) % $ (5,042) (10.6) % Add: Commercial loans held for sale reclassified to the portfolio — 210 239 — — (210) (100.0) % — NM Less: SBA PPP Loans 2,948 4,317 3,624 4,594 4,498 (1,369) (31.7) % (1,550) (34.5) % Adjusted commercial and industrial loans (non-GAAP) $ 39,680 $ 39,134 $ 39,485 $ 40,605 $ 43,172 $ 546 1.4 % $ (3,492) (8.1) % Total commercial loans $ 48,254 $ 48,869 $ 48,575 $ 50,955 $ 53,475 $ (615) (1.3) % $ (5,221) (9.8) % Add: Commercial loans held for sale reclassified to the portfolio — 210 239 — — (210) (100.0) % — NM Less: SBA PPP Loans 2,948 4,317 3,624 4,594 4,498 (1,369) (31.7) % (1,550) (34.5) % Adjusted total commercial loans (non-GAAP) $ 45,306 $ 44,762 $ 45,190 $ 46,361 $ 48,977 $ 544 1.2 % $ (3,671) (7.5) % Total business loans $ 55,502 $ 56,091 $ 55,838 $ 58,537 $ 60,604 $ (589) (1.1) % $ (5,102) (8.4) % Add: Commercial loans held for sale reclassified to the portfolio — 210 239 — — (210) (100.0) % — NM Less: SBA PPP Loans 2,948 4,317 3,624 4,594 4,498 (1,369) (31.7) % (1,550) (34.5) % Adjusted total business loans (non-GAAP) $ 52,554 $ 51,984 $ 52,453 $ 53,943 $ 56,106 $ 570 1.1 % $ (3,552) (6.3) % Total consumer loans $ 28,572 $ 28,664 $ 29,428 $ 29,822 $ 29,944 $ (92) (0.3) % $ (1,372) (4.6) % Less: Indirect—other consumer exit portfolio 858 971 1,101 1,240 1,406 (113) (11.6) % (548) (39.0) % Less: Indirect—vehicles 621 768 934 1,120 1,331 (147) (19.1) % (710) (53.3) % Adjusted total consumer loans (non-GAAP) $ 27,093 $ 26,925 $ 27,393 $ 27,462 $ 27,207 $ 168 0.6 % $ (114) (0.4) % Total loans $ 84,074 $ 84,755 $ 85,266 $ 88,359 $ 90,548 $ (681) (0.8) % $ (6,474) (7.1) % Add: Commercial loans held for sale reclassified to the portfolio — 210 239 — — (210) (100.0) % — NM Less: SBA PPP Loans 2,948 4,317 3,624 4,594 4,498 (1,369) (31.7) % (1,550) (34.5) % Less: Indirect—other consumer exit portfolio 858 971 1,101 1,240 1,406 (113) (11.6) % (548) (39.0) % Less: Indirect—vehicles 621 768 934 1,120 1,331 (147) (19.1) % (710) (53.3) % Adjusted ending total loans (non-GAAP) $ 79,647 $ 78,909 $ 79,846 $ 81,405 $ 83,313 $ 738 0.9 % $ (3,666) (4.4) % NM - Not Meaningful

 
38 Non-GAAP reconciliation: non-interest expense Year Ended December 31 ($ amounts in millions) 2020 2019 2018 2017 2016 Non-interest expense (GAAP) $ 3,643 $ 3,489 $ 3,570 $ 3,491 $ 3,483 Adjustments: Contribution to Regions Financial Corporation foundation (10) — (60) (40) — Professional, legal and regulatory expenses (7) — — — (3) Branch consolidation, property and equipment charges (31) (25) (11) (22) (58) Expenses associated with residential mortgage loan sale — — (4) — — Loss on early extinguishment of debt (22) (16) — — (14) Salary and employee benefits—severance charges (31) (5) (61) (10) (21) Acquisition Expense (1) — — — — Adjusted non-interest expense (non-GAAP) $ 3,541 $ 3,443 $ 3,434 $ 3,419 $ 3,387

 
39 Non-GAAP reconciliation: ACL/Loans excluding PPP As of ($ amounts in millions) 6/30/2021 3/31/2021 12/31/2020 9/30/2020 6/30/2020 Total Loans $ 84,074 $ 84,755 $ 85,266 $ 88,359 $ 90,548 Less: SBA PPP Loans 2,948 4,317 3,624 4,594 4,498 Loans excluding PPP, net (non- GAAP) $ 81,126 $ 80,438 $ 81,642 $ 83,765 $ 86,050 ACL at period end $ 1,684 $ 2,068 $ 2,293 $ 2,425 $ 2,425 Less: SBA PPP Loans' ACL $ 3 $ 3 $ 1 $ — $ — ACL excluding PPP Loans' ACL (non-GAAP) $ 1,681 $ 2,065 $ 2,292 $ 2,425 $ 2,425 ACL/Loans excluding PPP, net (non-GAAP) 2.07 % 2.57 % 2.81 % 2.90 % 2.82 %

 
40 Non-GAAP reconciliation: Pre-tax pre-provision income (PPI) Quarter Ended ($ amounts in millions) 6/30/2021 3/31/2021 12/31/2020 9/30/2020 6/30/2020 2Q21 vs. 1Q21 2Q21 vs. 2Q20 Net income (loss) available to common shareholders (GAAP) $ 748 $ 614 $ 588 $ 501 $ (237) $ 134 21.8 % $ 985 415.6 % Preferred dividends and other (GAAP)(1) 42 28 28 29 23 14 50.0 % 19 82.6 % Income tax expense (benefit) (GAAP) 231 180 121 104 (47) 51 28.3 % 278 NM Income (loss) before income taxes (GAAP) 1,021 822 737 634 (261) 199 24.2 % 1,282 491.2 % Provision for (benefit from) credit losses (GAAP) (337) (142) (38) 113 882 (195) (137.3) % (1,219) (138.2) % Pre-tax pre-provision income (non-GAAP) 684 680 699 747 621 4 0.6 % 63 10.1 % Other adjustments: Securities (gains) losses, net (1) (1) — (3) (1) — — % — — % Gains on equity investment — (3) (6) (44) — 3 100.0 % — NM Bank-owned life insurance (18) — (25) — — (18) NM (18) NM Salaries and employee benefits—severance charges 2 3 26 2 2 (1) (33.3) % — — % Branch consolidation, property and equipment charges — 5 7 3 10 (5) (100.0) % (10) (100.0) % Contribution to the Regions Financial Corporation foundation 1 2 10 — — (1) (50.0) % 1 NM Loss on early extinguishment of debt — — 14 2 6 — NM (6) (100.0) % Professional, legal and regulatory expenses — — — — 7 — NM (7) (100.0) % Acquisition expenses — — — — 1 — NM (1) (100.0) % Total other adjustments (16) 6 26 (40) 25 (22) (366.7) % (41) (164.0) % Adjusted pre-tax pre-provision income (non-GAAP) $ 668 $ 686 $ 725 $ 707 $ 646 $ (18) (2.6) % $ 22 3.4 % NM - Not Meaningful NM - Not Meaningful (1) The second quarter 2021 amount includes $13 million of Series A preferred stock issuance costs, which reduced net income available to common shareholders when the shares were redeemed during the second quarter of 2021. Management does not consider this $13 million to be indicative of the company's performance and believes excluding it will assist investors in analyzing its results and in predicting future performance.

 
41 Non-GAAP reconciliation: NII, non-interest income/expense, operating leverage and efficiency ratio NM - Not Meaningful Quarter Ended ($ amounts in millions) 6/30/2021 3/31/2021 12/31/2020 9/30/2020 6/30/2020 2Q21 vs. 1Q21 2Q21 vs. 2Q20 Non-interest expense (GAAP) A $ 898 $ 928 $ 987 $ 896 $ 924 $ (30) (3.2) % $ (26) (2.8) % Adjustments: Contribution to the Regions Financial Corporation foundation (1) (2) (10) — — 1 50.0 (1) NM Branch consolidation, property and equipment charges — (5) (7) (3) (10) 5 100.0 % 10 100.0 % Salary and employee benefits—severance charges (2) (3) (26) (2) (2) 1 33.3 % — — % Loss on early extinguishment of debt — — (14) (2) (6) — NM 6 100.0 % Professional, legal and regulatory expenses — — — — (7) — NM 7 100.0 % Acquisition expenses — — — — (1) — NM 1 100.0 % Adjusted non-interest expense (non-GAAP) B $ 895 $ 918 $ 930 $ 889 $ 898 $ (23) (2.5) % $ (3) (0.3) % Net interest income (GAAP) C $ 963 $ 967 $ 1,006 $ 988 $ 972 $ (4) (0.4) % -9 (0.9) % Taxable-equivalent adjustment 12 11 11 12 13 1 9.1 % (1) (7.7) % Net interest income, taxable-equivalent basis D $ 975 $ 978 $ 1,017 $ 1,000 $ 985 $ (3) (0.3) % $ (10) (1.0) % Non-interest income (GAAP) E 619 641 680 655 573 (22) (3.4) % 46 8.0 % Adjustments: Securities (gains) losses, net (1) (1) — (3) (1) — — % — — % Gains on equity investment — (3) (6) (44) — 3 100.0 % — NM Leveraged lease termination gains — — — — — — NM — NM Bank-owned life insurance (18) — (25) — — (18) NM (18) NM Adjusted non-interest income (non-GAAP) F $ 600 $ 637 $ 649 $ 608 $ 572 (37) (5.81) % 28 4.9 % Total revenue C+E=G $ 1,582 $ 1,608 $ 1,686 $ 1,643 $ 1,545 $ (26) (1.6) % $ 37 2.4 % Adjusted total revenue (non-GAAP) C+F=H $ 1,563 $ 1,604 $ 1,655 $ 1,596 $ 1,544 $ (41) (2.6) % $ 19 1.2 % Total revenue, taxable-equivalent basis D+E=I $ 1,594 $ 1,619 $ 1,697 $ 1,655 $ 1,558 $ (25) (1.5) % $ 36 2.3 % Adjusted total revenue, taxable-equivalent basis (non-GAAP) D+F=J $ 1,575 $ 1,615 $ 1,666 $ 1,608 $ 1,557 $ (40) (2.5) % $ 18 1.2 % Efficiency ratio (GAAP) A/I 56.4 % 57.3 % 58.1 % 54.1 % 59.4 % Adjusted efficiency ratio (non-GAAP) B/J 56.9 % 56.8 % 55.8 % 55.3 % 57.7 % Fee income ratio (GAAP) E/I 38.8 % 39.6 % 40.1 % 39.6 % 36.8 % Adjusted fee income ratio (non-GAAP) F/J 38.1 % 39.4 % 38.9 % 37.8 % 36.8 %

 
42 Forward-Looking Statements This presentation may include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not based on historical information, but rather are related to future operations, strategies, financial results or other developments. Forward-looking statements are based on management’s current expectations as well as certain assumptions and estimates made by, and information available to, management at the time the statements are made. Those statements are based on general assumptions and are subject to various risks, and because they also relate to the future they are likewise subject to inherent uncertainties and other factors that may cause actual results to differ materially from the views, beliefs and projections expressed in such statements. Therefore, we caution you against relying on any of these forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, those described below: • Current and future economic and market conditions in the United States generally or in the communities we serve (in particular the Southeastern United States), including the effects of possible declines in property values, increases in unemployment rates, financial market disruptions and potential reductions of economic growth, which may adversely affect our lending and other businesses and our financial results and conditions. • Possible changes in trade, monetary and fiscal policies of, and other activities undertaken by, governments, agencies, central banks and similar organizations, which could have a material adverse effect on our earnings. • Possible changes in market interest rates or capital markets could adversely affect our revenue and expense, the value of assets and obligations, and the availability and cost of capital and liquidity. • The impact of pandemics, including the ongoing COVID-19 pandemic, on our businesses, operations, and financial results and conditions. The duration and severity of the ongoing COVID-19 pandemic, which has disrupted the global economy, has and could continue to adversely affect our capital and liquidity position, impair the ability of borrowers to repay outstanding loans and increase our allowance for credit losses, impair collateral values, and result in lost revenue or additional expenses. The pandemic could also result in goodwill impairment charges and the impairment of other financial and nonfinancial assets, and increase our cost of capital. • Any impairment of our goodwill or other intangibles, any repricing of assets, or any adjustment of valuation allowances on our deferred tax assets due to changes in law, adverse changes in the economic environment, declining operations of the reporting unit or other factors. • The effect of changes in tax laws, including the effect of any future interpretations of existing tax law or any enactment of new domestic tax legislation and corporate tax rates, which may impact our earnings, capital ratios and our ability to return capital to shareholders. • Possible changes in the creditworthiness of customers and the possible impairment of the collectability of loans and leases, including operating leases. • Changes in the speed of loan prepayments, loan origination and sale volumes, charge-offs, credit loss provisions or actual credit losses where our allowance for credit losses may not be adequate to cover our eventual losses. • Possible acceleration of prepayments on mortgage-backed securities due to low interest rates, and the related acceleration of premium amortization on those securities. • Loss of customer checking and savings account deposits as customers pursue other, higher-yield investments, which could increase our funding costs. • Possible changes in consumer and business spending and saving habits and the related effect on our ability to increase assets and to attract deposits, which could adversely affect our net income. • Our ability to effectively compete with other traditional and non-traditional financial services companies, including fintechs, some of whom possess greater financial resources than we do or are subject to different regulatory standards than we are. • Our inability to develop and gain acceptance from current and prospective customers for new products and services and the enhancement of existing products and services to meet customers’ needs and respond to emerging technological trends in a timely manner could have a negative impact on our revenue. • Our inability to keep pace with technological changes, including those related to the offering of digital banking and financial services, could result in losing business to competitors. • Changes in laws and regulations affecting our businesses, including legislation and regulations relating to bank products and services, as well as changes in the enforcement and interpretation of such laws and regulations by applicable governmental and self-regulatory agencies, including as a result of the recent change in U.S. presidential administration and control of the U.S. Congress, which could require us to change certain business practices, increase compliance risk, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. • Our capital actions, including dividend payments, common stock repurchases, or redemptions of preferred stock or other regulatory capital instruments, must not cause us to fall below minimum capital ratio requirements, with applicable buffers taken into account, and must comply with other requirements and restrictions under law or imposed by our regulators, which may impact our ability to return capital to shareholders. Forward-looking statements

 
43 • Our ability to comply with stress testing and capital planning requirements (as part of the CCAR process or otherwise) may continue to require a significant investment of our managerial resources due to the importance of such tests and requirements. • Our ability to comply with applicable capital and liquidity requirements (including, among other things, the Basel III capital standards), including our ability to generate capital internally or raise capital on favorable terms, and if we fail to meet requirements, our financial condition and market perceptions of us could be negatively impacted. • The effects of any developments, changes or actions relating to any litigation or regulatory proceedings brought against us or any of our subsidiaries. • The costs, including possibly incurring fines, penalties, or other negative effects (including reputational harm) of any adverse judicial, administrative, or arbitral rulings or proceedings, regulatory enforcement actions, or other legal actions to which we or any of our subsidiaries are a party, and which may adversely affect our results. • Our ability to manage fluctuations in the value of assets and liabilities and off-balance sheet exposure so as to maintain sufficient capital and liquidity to support our business. • Our ability to execute on our strategic and operational plans, including our ability to fully realize the financial and nonfinancial benefits relating to our strategic initiatives. • The risks and uncertainties related to our acquisition or divestiture of businesses, including our pending acquisition of EnerBank and risks related to such acquisition including: the possibility that regulatory and other approvals and conditions are not received or satisfied on a timely basis or at all, or contain unanticipated terms and conditions; delays in closing the proposed transaction; expected synergies, cost savings and other financial or other benefits might not be realized within the expected timeframes or might be less than projected; difficulties in integrating the business; and the inability of Regions to effectively cross-sell products to EnerBank's customers. • The success of our marketing efforts in attracting and retaining customers. • Our ability to recruit and retain talented and experienced personnel to assist in the development, management and operation of our products and services may be affected by changes in laws and regulations in effect from time to time. • Fraud or misconduct by our customers, employees or business partners. • Any inaccurate or incomplete information provided to us by our customers or counterparties. • Inability of our framework to manage risks associated with our business such as credit risk and operational risk, including third-party vendors and other service providers, which could, among other things, result in a breach of operating or security systems as a result of a cyber attack or similar act or failure to deliver our services effectively. • Dependence on key suppliers or vendors to obtain equipment and other supplies for our business on acceptable terms. • The inability of our internal controls and procedures to prevent, detect or mitigate any material errors or fraudulent acts. • The effects of geopolitical instability, including wars, conflicts, civil unrest, and terrorist attacks and the potential impact, directly or indirectly, on our businesses. • The effects of man-made and natural disasters, including fires, floods, droughts, tornadoes, hurricanes, and environmental damage (specifically in the Southeastern United States), which may negatively affect our operations and/or our loan portfolios and increase our cost of conducting business. The severity and impact of future earthquakes, fires, hurricanes, tornadoes, droughts, floods and other weather-related events are difficult to predict and may be exacerbated by global climate change. • Changes in commodity market prices and conditions could adversely affect the cash flows of our borrowers operating in industries that are impacted by changes in commodity prices (including businesses indirectly impacted by commodities prices such as businesses that transport commodities or manufacture equipment used in the production of commodities), which could impair their ability to service any loans outstanding to them and/or reduce demand for loans in those industries. • Our ability to identify and address cyber-security risks such as data security breaches, malware, ransomware, “denial of service” attacks, “hacking” and identity theft, including account take-overs, a failure of which could disrupt our business and result in the disclosure of and/or misuse or misappropriation of confidential or proprietary information, disruption or damage to our systems, increased costs, losses, or adverse effects to our reputation. • Our ability to achieve our expense management initiatives. • Market replacement of LIBOR and the related effect on our LIBOR-based financial products and contracts, including, but not limited to, derivative products, debt obligations, deposits, investments, and loans. Forward-looking statements (continued)

 
44 • Possible downgrades in our credit ratings or outlook could, among other negative impacts, increase the costs of funding from capital markets. • The effects of a possible downgrade in the U.S. government’s sovereign credit rating or outlook, which could result in risks to us and general economic conditions that we are not able to predict. • The effects of problems encountered by other financial institutions that adversely affect us or the banking industry generally could require us to change certain business practices, reduce our revenue, impose additional costs on us, or otherwise negatively affect our businesses. • The effects of the failure of any component of our business infrastructure provided by a third party could disrupt our businesses, result in the disclosure of and/or misuse of confidential information or proprietary information, increase our costs, negatively affect our reputation, and cause losses. • Our ability to receive dividends from our subsidiaries, in particular Regions Bank, could affect our liquidity and ability to pay dividends to shareholders. • Changes in accounting policies or procedures as may be required by the FASB or other regulatory agencies could materially affect our financial statements and how we report those results, and expectations and preliminary analyses relating to how such changes will affect our financial results could prove incorrect. • Other risks identified from time to time in reports that we file with the SEC. • Fluctuations in the price of our common stock and inability to complete stock repurchases in the time frame and/or on the terms anticipated. • The effects of any damage to our reputation resulting from developments related to any of the items identified above. The foregoing list of factors is not exhaustive. For discussion of these and other factors that may cause actual results to differ from expectations, look under the captions “Forward-Looking Statements” and “Risk Factors” of Regions’ Annual Report on Form 10-K for the year ended December 31, 2020 and the "Risk Factors" of Regions' Quarterly Report on Form 10-Q for the quarter ended March 31, 2021 as filed with the SEC. Further, statements about the potential effects of the COVID-19 pandemic on our businesses, operations, and financial results and conditions may constitute forward-looking statements and are subject to the risk that the actual effects may differ, possibly materially, from what is reflected in those forward-looking statements due to factors and future developments that are uncertain, unpredictable and in many cases beyond our control, including the scope and duration of the COVID-19 pandemic (including any resurgences), actions taken by governmental authorities in response to the COVID-19 pandemic and their success, the effectiveness and degree of acceptance of any vaccines, and the direct and indirect impact of the COVID-19 pandemic on our customers, third parties and us. The words "future," “anticipates,” "assumes," “intends,” “plans,” “seeks,” “believes,” "predicts," "potential," "objectives," “estimates,” “expects,” “targets,” “projects,” “outlook,” “forecast,” "would," “will,” “may,” “might,” “could,” “should,” “can,” and similar terms and expressions often signify forward-looking statements. You should not place undue reliance on any forward-looking statements, which speak only as of the date made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible to predict all of them. We assume no obligation and do not intend to update or revise any forward-looking statements that are made from time to time, either as a result of future developments, new information or otherwise, except as may be required by law. Regions’ Investor Relations contact is Dana Nolan at (205) 264-7040; Regions’ Media contact is Jeremy King at (205) 264-4551. Forward-looking statements (continued)

 
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