On this page of StockholderLetter.com we present the latest annual shareholder letter from REGIONS FINANCIAL CORP — ticker symbol RF. Reading current and past RF letters to shareholders can bring important insights into the investment thesis.

 •  3/3/2025 Letter Continued (Full PDF)
 •  3/6/2023 RF Stockholder Letter
 •  3/4/2024 RF Stockholder Letter
 •  More "Banking & Savings" Category Stockholder Letters
 •  RF Benford's Law Stock Score = 97

RF Shareholder/Stockholder Letter Transcript:

ACCELERATING PERFORMANCE, DELIVERING RESULTS
Despite an operating environment characterized by
continued regulatory, economic, and geopolitical
pressures, 2024 was a milestone year for Regions.
Capital Markets, Treasury Management, and Wealth
Management all generated record full-year revenue.
We ended the year with full-year earnings
of $1.8 billion, an industry-leading return
on average tangible common equity of 18
percent, and earnings per share of $1.93.
Our results were strong in 2024 because people
remained at the center of everything we do     our
associates, customers and communities were
center stage at all times. I saw firsthand the expertise
and dedication of our associates as I visited branches
and operations centers. In conversations with a range of
customers...from business owners to individuals...I heard
the importance of personalized solutions, advice and
guidance. At community events, I saw the significance
of Regions as a local employer and as a good corporate
citizen in the wake of natural disasters.
Regions is proud to be part of the U.S. regional banking
system     a system critical to providing essential financial
services to individuals and businesses across the country.
In an increasingly competitive environment, regional
banks play an important role in building and supporting
the nation   s financial infrastructure, as well as providing
the essential services that allow the U.S. economy to
thrive.
We believe that banking is a people business
first and foremost     great bankers enabled by
innovative technology who are ready to serve
customers with advice and guidance tailored to
their needs.
Regions is uniquely positioned because we provide a
range of online and in-app self-service options, and
our vast branch network means there is always a
banker ready to help customers in person. Either way,
personalization is a driving force in how we go to market.
There   s a shared pride in what we do    
serving customers, strengthening
communities, and earning the trust of
our shareholders. In 2024, we built on
that momentum, accelerating our
performance and driving meaningful
progress across the business.
John M. Turner, Jr. | Chairman, President and CEO

A SUCCESSFUL FOUNDATION
DRIVES TOP-QUARTILE
RETURNS AND RECOGNITION
Our financial soundness and profitability
are driven by simple but powerful principles.
Our granular, diverse deposit base combined
with strong capital and liquidity levels puts
us in a solid competitive position. We believe
that our combined investments in talent,
technology, products and services     along
with the fast-growing markets in our footprint    
create an enterprise that is uniquely positioned
to continue generating top-quartile returns.
We   re not the only ones
who are confident in the
progress we are making.
In 2024:

JD Power
cited
Regions
as the top
regional
bank in
the U.S. in
online banking
satisfaction.

Fortune recognized us as one of the Most
Innovative Companies in America.

We received the Presidential Award for
Supporting Exports, a recognition of our
commercial strengths and ability to help
companies expand to international
markets.
Regions    Consumer, Corporate and Wealth
Management lines of business are each major
contributors to the soundness, profitability and
growth of the bank.
The progress we made across our highly
diversified consumer, corporate and
wealth banking businesses in 2024,
continue to give us great confidence we
CONSUMER BANKING
The Consumer Bank served over four million consumer
households and small business customers in 2024.
We earned this opportunity by providing personalized advice
and guidance through our branch network, digital channels,
contact centers, and mortgage loan offices. Last year, as part of
our commitment to deliver a personalized path to financial
confidence from someone who cares, our bankers helped small
business and individual customers create more than 350,000
personalized Regions Greenprint   plans.
With the homefield
advantage in the
southeast, Regions
has been building
trust and serving
customers according
to the principles of
relationship banking
for over 170 years. We leverage our
relationships with the Southeastern
Conference, Nashville Predators,
PGA TOUR Champions and other organizations to grow
and expand relationships in our footprint.
Consumer Bank performance in 2024 produced $1.2 billion in
pre-tax income and indicates our approach to relationship
banking works: according to BAI Research & Benchmarking,
we outpaced peers and national averages on primary banking
relationships, generated more than $50 million in referral revenue
and responded to more than 1.2 million customer leads. We
outperformed the peer median in mortgage profitability and
leveraged our capabilities with Regions Home Improvement
Financing to become a premier lender to homeowners.
are on the right path.
2

CORPORATE BANKING
The Corporate Banking Group produced solid results
in 2024, delivering new annual records for revenue
in both Capital Markets, up 57% year-over-year, and
Treasury Management, up 12% year-over-year.
These performance results reflect our focus on driving responsible
growth and align with our core execution model of local bankers
working with industry and product experts to deliver unique ideas
and solutions to meet customer needs     all built on a solid Risk
Management foundation.
One important way we help our clients manage risk is to ensure
they have enough liquidity to keep their operations running
smoothly and avoid financial problems. Our bankers hold regular
conversations with clients to understand the movement of money
coming in and going out of their business. We call these discussions
   cash-flow centric conversations,    and last year we held over
172,000 of them     underscoring our commitment to keeping our
clients at the center of all we do.
We also continued to invest in our full range of products and
capabilities, launching several initiatives focused on enhancing
our digital approach, scaling our Treasury Management platform,
and leveraging our acquisitions. Our strategic investments engaged
and deepened our client base, with a 5.8% year-over-year increase
in Treasury Management relationships.
Delivered digital cash capabilities by investing in Treasury
Management technology and launching new cash
management tools and solutions to businesses:
    Embedded Enterprise Resource Planning Finance
    Regions LockboxIQSM
    CashFlowIQSM
    CashFlow AdvisorSM
3
Regions announced it has facilitated an
equity investment that will expand
access to affordable housing for seniors
in Montgomery, AL. Freedom Village,
senior living development near downtown
Montgomery, will have 44 apartments
reserved for seniors earning 60% or less
of the area median income (AMI). The
remaining 12 apartments are reserved for
seniors earning 50% AMI or less, and four
are specifically set aside for seniors who
are homeless or who have a documented
disability.
Regions Bank   s Affordable Housing group
facilitated the $13.5 million in federal LowIncome Housing Tax Credit equity with a
large institutional investor to support the
development.
WEALTH MANAGEMENT
Wealth Management delivered record total
revenue results in 2024, led by non-interest
revenue growth of 10% along with growth in
total client relationships of 8%. Our strategic
approach puts clients first by providing
financial planning advice, guidance and
solutions through all cycles of the economy.
Our Wealth Advisors were able to anticipate
the needs of our clients, prospects and
stakeholders and provide various solutions
ranging from protecting assets to improving
yields. This focus and dedication allowed us
to finish the year showing continued strength
in Private Wealth Management client loyalty
and satisfaction, with 93% of clients giving
their primary advisor a 5-star rating. For the
fourth consecutive year, Regions Investment
Management was recognized in Pensions &
Investment   s Best Places
to Work in Money
Management
awards.

TRANSFORMING FOR THE
FUTURE, CONTINUOUSLY
IMPROVING TODAY
As we developed our strategic plan for 2025, we
continued to build on the simple and straightforward
keys to our success     our people, the partnerships
we foster, the places where we operate, and our
processes to drive efficiency and innovation
throughout the bank.
PEOPLE
Our 20,000 associates are the foundation of everything
we do. Whether it   s frontline bankers working in our
branch network, private wealth experts advising families
on investment strategies or relationship managers
serving the needs of businesses of every size, we focus
on recruiting, developing and retaining top talent and
investing in a culture where associates thrive, perform
their best, and drive business results.
PARTNERSHIPS
We go to market through our unique Regions360 model,
a collaborative approach where our local bankers across
business lines team together with our industry and product
experts to bring the best solutions to our customers and
clients. Different parts of our business are never competing
against each other     we   re always aligning to provide the
best value and most comprehensive options.
We focus on building relationships through personalized
interactions, whether in person, online, on our app or
through our Contact Center. Personalized service is our
hallmark     we work to address the unique, individual
needs of every customer and client.
A PASSION FOR HEALING
When Dr. Gilda DeLaCalle looked for a partner to help
expand her medical and dental practice across greater
Miami, she knew that trust and shared values had to be
at the core of the relationship.
Today, with a
staff of 25, the
Cuban native
operates three
DeLaCalle
Medical Center
locations     a
practice that
relies on
financial
services to manage day-to-day operations, including
payroll, overhead costs, and funding for growth initiatives.
High performance happens when associates feel
engaged and have a sense of wellbeing that allows
them to thrive at work, home and in their community.
Last year, we expanded our benefits program to include
offerings that touch all the dimensions of wellbeing    
physical, mental, financial, professional and social. Our
investment in wellbeing supports associates and their
families, improves engagement at work and, ultimately,
accelerates how we perform and deliver results.
We   re honored that investing in our most important
asset     our people     has earned us recognition from
prestigious institutions like Gallup, Military Friendly,
and the American Association of
People with Disabilities as one of
the best places
to work.
   Regions Bank has played an instrumental role in
helping me grow my practice, and our long-standing
relationship is built on trust,    she said.    They take care
of the financial side of my small business so I can focus
on what I do best     caring for my patients.   
In the latest example of Regions    support, DeLaCalle
said Regions Branch Manager Manuel Vidal and the West
Tamiami team helped her secure Ascentium Capital
financing through Regions for medical equipment to
treat common skin conditions seen in the coastal
community.
REGIONS BANK EARNS 2024 GALLUP EXCEPTIONAL
WORKPLACE WITH DISTINCTION AWARD
In 2024, Regions was honored to be among five elite
organizations world-wide to receive the Gallup
Exceptional Workplace Award with Distinction. The
award cited the bank   s relentless focus on enhancing
associate wellbeing and empowering all Regions
professionals to thrive at work, feel pride in what
they do, and take ownership of their performance.
   For small business owners like Dr. DeLaCalle, we get
to be part of their professional and personal financial
growth,    he added.    That   s a wonderful feeling.   
4

PLACE
We operate in some of the most desirable markets in the country     markets where people
are moving to...where businesses are relocating...and where new enterprises are starting. Our
footprint growth rate is expected to be almost double that of the United States, and our priority
market growth rate is expected to be triple the national rate. With our established presence and
network, we   re ideally suited to take advantage of this growth.
In addition to operating in high potential growth markets, Regions also has significant presence
in our core markets where we serve as an integral part of the local economy and community.
From Birmingham to Nashville and all along the Gulf Coast and beyond, our core markets
provide stability and consistency to our balance sheet through a variety of economic cycles.
Across our entire
footprint, we
have the depth of
experience and
the competitive
solutions we need
to build fresh,
sustainable growth.
THE FUTURE OF FACE-TO-FACE BANKING AND EFFICIENCY HAS ARRIVED IN FLORIDA
Regions    investment in the Greater Miami community
of Delray Beach, Fla., is both a reflection of our ongoing
commitment to dynamic growth markets across our
footprint as well as an eye to the future of banking.
Additionally, customers looking for greater efficiency
now have access to such technology upgrades as an
instant-issue debit card printer, Wi-Fi, and self-service
safe deposit boxes with biometric access to provide
easier, more secure access.
The bank recently opened a new branch that promises to
redefine how customers experience banking by leaning
into a seamless blend of tradition and innovation. At
the new Delray Beach branch, customers no longer
have to fill out deposit slips or be referred from one
banker to another for certain services. Instead, the
new approach is built around personalized service. An
experienced banker greets the customer as soon as
they enter the branch and invites them to complete
a Regions Greenprint  , a tailored plan with financial
solutions to meet their personal and business goals.
The Delray Beach branch is an important innovation for
Regions as it serves a growing market in the bellwether
state of Florida, which continues to outpace the national population growth rate by 400 percent and will
likely continue to for the next several years.
The branch design is in tune with how today   s customers increasingly view the branch space, where
simple transactions can often be handled through the
Regions Mobile App, Online Banking or ATMs.
PROCESS
We   re focused
on driving
efficiency and
effectiveness
by modernizing
our core
systems,
simplifying
procedures,
and ensuring we have the right controls in place to accelerate performance and deliver
profitable growth results. By investing in enhanced
online and mobile capabilities, personalized AI-driven
insights, and new capabilities around open banking,
customers will enjoy greater access and convenience.
We continue to invest in strong operational and compliance
risk management processes, which are central to our business.
Our focus on soundness ensures we have the right controls
in place to grow our performance and deliver sustained and
improved profitability.
AI CREATING STRONGER CUSTOMER RELATIONSHIPS
AI has exploded in all areas of daily life and is spurring a flurry of
new ideas to improve the way we work and live. At Regions, we   re
taking a deliberate approach to AI to ensure it not only meets
the necessary regulatory and risk guidelines, but is used in a
responsible, ethical way.
Banking at Regions is about the relationships we   ve built over
decades of service and empowering our bankers with technology
to help them deliver the very best customer experience.
5



 3/3/2025 Letter Continued (Full PDF)