# REGIONS FINANCIAL CORP (RF)

Informational only - not investment advice.

CIK: 0001281761
SIC: 6021 National Commercial Banks
SIC breadcrumb: [Finance, Insurance, And Real Estate](/division/H/) > [Depository Institutions](/major-group/60/) > [SIC 6021 National Commercial Banks](/industry/6021/)
Latest 10-K filed: 2026-02-24
SEC page: https://www.sec.gov/edgar/browse/?CIK=1281761
Filing source: https://www.sec.gov/Archives/edgar/data/1281761/000128176126000019/rf-20251231.htm

## At a glance

FY2025 · period end 2025-12-31 · filed 2026-02-24 · accession 0001281761-26-000019 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001281761.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 7,073,000,000 USD | 2025 | verified |
| Net income | 2,156,000,000 USD | 2025 | verified |
| Assets | 158,814,000,000 USD | 2025 | verified |
| Free cash flow | 2,026,000,000 USD | 2025 | computed |
| Net margin | 30.48% | 2025 | computed |
| Operating margin | 0.75% | 2025 | computed |
| Revenue YoY | -0.49% | 2025 | computed |
| ROE | 11.32% | 2025 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2025 revenue ÷ FY2024 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

Peer groups: [Regional banks](/compare/regional-banks/) · SIC 6021 National Commercial Banks

No market price, no rating, no forecast on this site. Not investment advice.

## Peer comparisons including RF

- Regional banks: [peer review](/compare/regional-banks/) · [market-risk page](/compare/regional-banks/risk/)

### Peer percentile fingerprint

| Ratio | RF | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | 30.5% | 22.9% | 85 | 76 |
| Revenue growth | -0.5% | 5.2% | 21 | 76 |
| FCF margin | 28.6% | 22.0% | 77 | 65 |
| ROE | 11.3% | 9.9% | 68 | 76 |
| ROA | 1.4% | 1.1% | 84 | 76 |
| Liabilities / equity | 7.34 | 8.12 | 31 | 76 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 6021 National Commercial Banks, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 7073000000 | USD | 2025 | 2026-02-24 |
| Net income | 2156000000 | USD | 2025 | 2026-02-24 |
| Assets | 158814000000 | USD | 2025 | 2026-02-24 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-02-24. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001281761.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 3,814,000,000 | 3,987,000,000 | 4,337,000,000 | 4,596,000,000 | 4,262,000,000 | 4,081,000,000 | 5,102,000,000 | 6,897,000,000 | 7,108,000,000 | 7,073,000,000 |
| Net income | 1,163,000,000 | 1,263,000,000 | 1,759,000,000 | 1,582,000,000 | 1,094,000,000 | 2,521,000,000 | 2,245,000,000 | 2,074,000,000 | 1,893,000,000 | 2,156,000,000 |
| Operating income |  |  |  |  |  | 46,000,000 | 56,000,000 | 212,000,000 | 95,000,000 | 53,000,000 |
| Diluted EPS | 0.87 | 1.00 | 1.54 | 1.50 | 1.03 | 2.49 | 2.28 | 2.11 | 1.93 | 2.30 |
| Operating cash flow | 2,037,000,000 | 2,297,000,000 | 2,275,000,000 | 2,581,000,000 | 2,324,000,000 | 3,030,000,000 | 3,102,000,000 | 2,308,000,000 | 1,598,000,000 | 2,181,000,000 |
| Capital expenditures | 205,000,000 | 150,000,000 | 151,000,000 | 178,000,000 | 134,000,000 | 91,000,000 | 90,000,000 | 186,000,000 | 174,000,000 | 155,000,000 |
| Dividends paid | 317,000,000 | 346,000,000 | 452,000,000 | 577,000,000 | 595,000,000 | 608,000,000 | 663,000,000 | 787,000,000 | 890,000,000 | 912,000,000 |
| Share buybacks | 839,000,000 | 1,275,000,000 | 2,122,000,000 | 1,101,000,000 | 0.00 | 467,000,000 | 230,000,000 | 252,000,000 | 348,000,000 | 1,067,000,000 |
| Assets | 125,968,000,000 | 124,294,000,000 | 125,688,000,000 | 126,240,000,000 | 147,389,000,000 | 162,938,000,000 | 155,220,000,000 | 152,194,000,000 | 157,302,000,000 | 158,814,000,000 |
| Liabilities | 109,304,000,000 | 108,102,000,000 | 110,598,000,000 | 109,945,000,000 | 129,278,000,000 | 144,612,000,000 | 139,269,000,000 | 134,701,000,000 | 139,392,000,000 | 139,711,000,000 |
| Stockholders' equity | 16,664,000,000 | 16,192,000,000 | 15,090,000,000 | 16,295,000,000 | 18,111,000,000 | 18,326,000,000 | 15,947,000,000 | 17,429,000,000 | 17,879,000,000 | 19,043,000,000 |
| Free cash flow | 1,832,000,000 | 2,147,000,000 | 2,124,000,000 | 2,403,000,000 | 2,190,000,000 | 2,939,000,000 | 3,012,000,000 | 2,122,000,000 | 1,424,000,000 | 2,026,000,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | 30.49% | 31.68% | 40.56% | 34.42% | 25.67% | 61.77% | 44.00% | 30.07% | 26.63% | 30.48% |
| Operating margin |  |  |  |  |  | 1.13% | 1.10% | 3.07% | 1.34% | 0.75% |
| Return on equity | 6.98% | 7.80% | 11.66% | 9.71% | 6.04% | 13.76% | 14.08% | 11.90% | 10.59% | 11.32% |
| Return on assets | 0.92% | 1.02% | 1.40% | 1.25% | 0.74% | 1.55% | 1.45% | 1.36% | 1.20% | 1.36% |
| Liabilities / equity | 6.56 | 6.68 | 7.33 | 6.75 | 7.14 | 7.89 | 8.73 | 7.73 | 7.80 | 7.34 |

## As-reported value updates

2 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/RF/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-08-06. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001281761.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2022-Q3 | 2022-09-30 |  |  | 0.43 | reported discrete quarter |
| 2023-Q1 | 2023-03-31 |  |  | 0.62 | reported discrete quarter |
| 2023-Q2 | 2023-06-30 |  |  | 0.59 | reported discrete quarter |
| 2023-Q3 | 2023-09-30 | 1,766,000,000 | 490,000,000 | 0.49 | reported discrete quarter |
| 2023-Q4 | 2023-12-31 | 1,751,000,000 | 391,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2024-Q1 | 2024-03-31 | 1,724,000,000 | 368,000,000 | 0.37 | reported discrete quarter |
| 2024-Q2 | 2024-06-30 | 1,762,000,000 | 501,000,000 | 0.52 | reported discrete quarter |
| 2024-Q3 | 2024-09-30 | 1,820,000,000 | 490,000,000 | 0.49 | reported discrete quarter |
| 2024-Q4 | 2024-12-31 | 1,802,000,000 | 534,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2025-03-31 | 1,725,000,000 | 490,000,000 | 0.51 | reported discrete quarter |
| 2025-Q2 | 2025-06-30 | 1,784,000,000 | 563,000,000 | 0.59 | reported discrete quarter |
| 2025-Q3 | 2025-09-30 | 1,796,000,000 | 569,000,000 | 0.61 | reported discrete quarter |
| 2025-Q4 | 2025-12-31 | 1,768,000,000 | 534,000,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2026-03-31 | 1,702,000,000 | 559,000,000 | 0.62 | reported discrete quarter |
| 2026-Q2 | 2026-06-30 | 1,748,000,000 | 570,000,000 | 0.64 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from RF's latest 10-K: [/company/RF/business/](/company/RF/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from RF's latest 10-K: [/company/RF/risk-factors/](/company/RF/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1281761/000128176126000055/rf-20260630.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-08-06
Report date: 2026-06-30

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

INTRODUCTION

The following discussion and analysis is part of Regions Financial Corporation’s (“Regions” or the “Company”) Quarterly Report on Form 10-Q filed with the SEC and should be read in conjunction with the consolidated financial statements and the related notes that appear in Part I, Item 1 of this report. In addition, this discussion and analysis updates the Annual Report on Form 10-K for the year ended December 31, 2025, which was previously filed with the SEC. This financial information is presented to aid in understanding Regions’ financial position and results of operations and should be read together with the financial information contained in Regions’ Annual Report on Form 10-K. See Note 1 "Basis of Presentation" and Note 13 "Recent Accounting Pronouncements" to those consolidated financial statements for further detail. The emphasis of this discussion will be on the three and six months ended June 30, 2026 compared to the three and six months ended June 30, 2025 for the consolidated statements of income. For the consolidated balance sheets, the emphasis of this discussion will be on the balances as of June 30, 2026 compared to December 31, 2025.

This discussion and analysis contains statements that may be considered “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. See pages 6 through 8 for additional information regarding forward-looking statements.

CORPORATE PROFILE

Regions is a financial holding company headquartered in Birmingham, Alabama operating in the South, Midwest and Texas. In addition, Regions operates several offices delivering specialty capabilities in New York, Washington D.C., Chicago, Salt Lake City, and other locations nationwide. Regions provides financial solutions for a wide range of clients including retail and mortgage banking services, commercial banking services and wealth and investment services. Further, Regions and its subsidiaries deliver other specialty capabilities including merger and acquisition advisory services, capital markets solutions, home improvement lending, investment advisory services, equipment financing for commercial clients and small business customers, low income housing tax credit corporate fund syndication and asset management, financing to CRA-qualified customers, investment and insurance products, broker-dealer services to commercial clients, and others.

Regions conducts its banking operations through Regions Bank, an Alabama state-chartered commercial bank that is a member of the Federal Reserve System. At June 30, 2026, Regions operated 1,246 total branch outlets. Regions carries out its strategies and derives its profitability from three reportable business segments: Corporate Bank, Consumer Bank, and Wealth Management, with the remainder in Other. See Note 11 "Business Segment Information" to the consolidated financial statements for more information regarding Regions’ segment reporting structure.

Regions’ business strategy is focused on providing a competitive mix of products and services, delivering quality customer service, and continuing to develop and optimize distribution channels that include a branch distribution network with offices in convenient locations, as well as electronic and mobile banking.

Regions’ profitability, like that of many other financial institutions, is dependent on its ability to generate revenue from net interest income as well as non-interest income sources. Net interest income is primarily the difference between the interest income Regions receives on interest-earning assets, such as loans, leases, investment securities and cash balances held at the Federal Reserve Bank, and the interest expense Regions pays on interest-bearing liabilities, principally deposits and borrowings. Regions’ net interest income is impacted by the size and mix of its balance sheet components and the interest rate spread between interest earned on its assets and interest paid on its liabilities. Non-interest income includes fees from service charges on deposit accounts, card and ATM fees, mortgage servicing and secondary marketing, investment management and trust activities, capital markets and other customer services which Regions provides. Results of operations are also affected by the provision for credit losses and non-interest expenses such as salaries and employee benefits, equipment and software expenses, occupancy, professional, legal and regulatory expenses, FDIC insurance assessments, and other operating expenses, as well as income taxes.

Economic conditions, competition, new legislation and related rules impacting regulation of the financial services industry and the monetary and fiscal policies of the Federal government significantly affect most, if not all, financial institutions, including Regions. Lending and deposit activities and fee income generation are influenced by levels of business spending and investment, consumer income, consumer spending and savings, capital market activities, and competition among financial institutions, as well as customer preferences, interest rate conditions, inflation and prevailing market rates on competing products in Regions’ market areas.

SECOND QUARTER OVERVIEW

Economic Environment in Regions' Banking Markets

Regions utilized its internal June baseline forecast to calculate the ACL as of June 30, 2026. Refer to the "Economic forecast and qualitative adjustments" discussion in the "Allowance" section for further detail.

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Second Quarter Results

Regions reported net income available to common shareholders of $549 million or $0.64 per diluted share in the second quarter of 2026 compared to net income available to common shareholders of $534 million or $0.59 per diluted share in the second quarter of 2025.

Net interest income (taxable-equivalent basis) totaled $1.3 billion in the second quarter of 2026, which increased $20 million compared to the second quarter of 2025. The net interest margin (taxable-equivalent basis) was 3.66 percent in the second quarter of 2026, reflecting a 1 basis point increase from the same period in 2025. The increases in net interest income and margin were driven primarily by lower total funding costs that overcame a modest decline in loan yields, which were also protected by the Company's hedging program. Additionally, net interest income and margin benefitted from fixed-rate asset turnover and securities repositionings executed in 2025 and 2026. Refer to the related discussion below Table 18 "Consolidated Average Daily Balances and Yield/Rate Analysis" for further detail.

The provision for credit losses totaled $68 million in the second quarter of 2026 compared to $126 million in the second quarter of 2025. Net charge-offs totaled $102 million, or 0.42 percent of average loans, in the second quarter of 2026, compared to $113 million, or 0.47 percent of average loans, in the second quarter of 2025. This decrease reflected continued progress on previously identified portfolios of interest that were already reserved for. The allowance as a percent of total loans, net, decreased to 1.63 percent at June 30, 2026, compared to 1.76 percent at December 31, 2025 due to asset quality improvement and resolutions of previously reserved for credits. Refer to the "Allowance" section for further detail.

Non-interest income was $630 million in the second quarter of 2026 compared to $646 million in the second quarter of 2025 primarily driven by securities losses associated with repositioning transactions in the second quarter of 2026 and a decline in mortgage income. Partially offsetting the losses were increases in service charges, investment management and trust fee income, investment services fee income, and higher market valuations on employee benefit assets. See Table 23 "Non-Interest Income" for further details.

Non-interest expense was $1.1 billion in the second quarter of 2026 which increased $48 million compared to the second quarter of 2025. The increase was primarily driven by an increase in salaries and benefits and outside services expenses. These increases were partially offset by a decline in FDIC insurance expense, operational losses, and Visa class B shares expense. See Table 24 "Non-Interest Expense" for further details.

Regions' effective tax rate was 20.7 percent in the second quarter of 2026 compared to 20.3 percent in the second quarter of 2025. See the "Income Taxes" section for further details.

Capital

Regions and Regions Bank are required to comply with regulatory capital requirements established by Federal and State banking agencies, which include quantitative requirements including the CET1 ratio. At June 30, 2026, Regions’ CET1 ratio was estimated to be 10.7 percent. For additional information on Regions' regulatory capital requirements see the "Regulatory Requirements" section.

Regions is subject to supervisory stress testing conducted by the Federal Reserve and its SCB is currently floored at 2.5 percent. See Note 6 "Shareholders' Equity and Accumulated Other Comprehensive Income (Loss)" to the consolidated financial statements for further details.

The Board has authorized the repurchase of up to $3.0 billion of the Company's common stock through the fourth quarter of 2027. See Note 6 "Shareholders' Equity and Accumulated Other Comprehensive Income (Loss)" for more information.

On July 15, 2026, the Board declared a $0.035 increase, or 13 percent, to the quarterly common stock dividend to $0.30 which will be payable on October 1, 2026, to shareholders of record at close of business on September 1, 2026.

BALANCE SHEET ANALYSIS

The following sections provide expanded discussion of significant changes in certain line items in asset, liability, and shareholders' equity categories.

CASH AND CASH EQUIVALENTS

Cash and cash equivalents decreased approximately $981 million from year-end 2025 to June 30, 2026 primarily due to an increase in loans and a decrease in deposits which was partially offset by an increase in borrowed funds. See the "Loans", "Deposits, "Borrowed Funds" and "Liquidity" sections for more information.

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DEBT SECURITIES

The following table details the carrying values of debt securities, including both held to maturity and available for sale:

Table 1—Debt Securities

[[GREPCENT_TABLE]]
[["","June 30, 2026","","December 31, 2025"],["","(In millions)"],["U.S. Treasury securities","$","2,039","","","$","2,276"],["Federal agency securities","532","","","543"],["Obligations of states and political subdivisions","2","","","2"],["Mortgage-backed securities:"],["Residential agency","22,699","","","23,624"],["Commercial agency","6,800","","","6,198"],["Commercial non-agency","157","","","82"],["Corporate and other debt securities","430","","","441"],["","$","32,659","","","$","33,166"]]
[[/GREPCENT_TABLE]]

Debt securities, which comprise approximately 23 percent of earning assets, are an important tool used to manage interest rate sensitivity and provide a primary source of liquidity for the Company, as much of the portfolio is highly liquid. Additionally, some of the debt securities portfolio is eligible to be used as collateral for funding of various types of borrowings. See the "Liquidity" and "Market Risk-Interest Rate Risk" sections for more information on these arrangements. See also Note 3 "Debt Securities" to the consolidated financial statements for additional information.

As of June 30, 2026, debt securities held to maturity and debt securities available for sale represented 16 percent and 84 percent, respectively, of the total debt securities portfolio.

Debt securities decreased $507 million from December 31, 2025 to June 30, 2026 due to the timing of securities purchases and less favorable market valuation adjustments resulting from changes in interest rates. During the secon

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1281761/000128176126000019/rf-20251231.htm
Complete FY 2025 MD&A: /company/RF/mda/fy2025/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary. Published MD&A gate trimmed front/tail over-capture.
Confidence: high
Filing date: 2026-02-24
Report date: 2025-12-31

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

EXECUTIVE OVERVIEW

Management believes the following sections provide an overview of several of the most relevant matters necessary for an understanding of the financial aspects of Regions' business, particularly regarding its 2025 results. Cross references to more detailed information regarding each topic within MD&A and the consolidated financial statements are included. The following information should be read in conjunction with the entire MD&A and accompanying consolidated financial statements and related notes, as well as the other sections of this Annual Report on Form 10-K.

Economic Environment in Regions' Banking Markets

After what is expected to be full-year 2025 growth of 2.2 percent, Regions' baseline forecast anticipates real GDP growth of 2.7 percent for 2026. The economic environment faces challenges such as lingering trade policy uncertainty, a weaker pace of hiring, and persistent inflation pressures; however, the economy is supported by ample liquidity in the household and corporate sectors, elevated profit margins, expansionary fiscal policy, accommodative financial conditions, and accelerating trend productivity growth.

The pace of nonfarm job growth slowing has been a function of diminished hiring as opposed to a rising pace of layoffs. Lingering policy uncertainty, uncertainty around the economic outlook, and a drive for greater efficiency are likely weighing on hiring while a significant outflow of foreign born labor has left a gap in the supply of labor which is weighing on hiring. A slower pace of labor force growth will largely offset the slowing pace of job growth, leaving the unemployment rate little changed; the unemployment rate averaged 4.3 percent in 2025, which we expect will be the average for 2026 as well.

Though growth in aggregate labor earnings is slowing, it continues to outpace inflation. Growth in consumer spending has slowed partially reflecting payback for purchases of consumer durable goods that were pulled forward in 2025 as consumers looked to avoid tariff-related price increases. After slowing mid-year, growth in spending on discretionary services firmed up in the fall, but a significant decline in equity prices would likely lead to a pronounced pullback in such spending. Additionally, flagging consumer sentiment and uncertainty about the path of the labor market may weigh on spending growth. That said, overall household financial conditions remain healthy, with elevated household net worth and still-low monthly debt service burdens. Moreover, changes in the tax code will lead to a significant boost to after-tax household income in the first quarter of 2026 that is expected to support spending amongst lower-to-middle income households.

More favorable tax treatment seems to have bolstered business investment spending over recent months and the momentum is expected to carry forward in 2026. Corporate profit margins remain notably elevated, particularly relative to the years immediately prior to 2020, which has enabled firms to absorb some portion of the higher tariffs already put in place. However, there is some remaining uncertainty around how the costs of higher tariffs will impact longer-term decisions on capital spending, hiring, and pricing.

While increased emphasis on the downside risks to the labor market led the FOMC to cut the Federal funds rate three times in 2025, most recently by twenty-five basis points at their December 2025 meeting, the extent of further cuts in 2026 remains unclear. Several Committee members remain focused on the upside risks to inflation. While this does not rule out additional Federal funds rate cuts, it likely limits the scope for further cuts barring a more pronounced deterioration in labor market conditions.

Patterns of economic activity within the Regions footprint are expected to be broadly similar to those seen for the U.S. as a whole. As was the case nationally, the pace of job growth within the footprint slowed over the course of 2025, in part reflecting a slowing pace of net in-migration from the rest of the U.S. and abroad. Still, growth in nonfarm employment has continued to run ahead of the national average. Some of the metro areas which had seen the largest cumulative increases over the prior few years have begun to see house prices decline, but underlying demand, in part reflecting persistently above-average population growth, will help stem the extent of any such declines. Also, given the extent to which house prices have risen over recent years in these markets, the declines in house prices do not threaten to push large numbers of owners into negative equity positions.

The economic environment, as described above, impacted Regions' forecast utilized in calculating the allowance as of December 31, 2025. See the "Allowance" section for further information.

2025 Results

Regions reported net income available to common shareholders of $2.1 billion or $2.30 per diluted share in 2025 compared to net income available to common shareholders of $1.8 billion or $1.93 per diluted share in 2024.

Net interest income (taxable-equivalent basis) totaled $5.0 billion in 2025 compared to $4.9 billion in 2024. The net interest margin (taxable-equivalent basis) was 3.61 percent in 2025, reflecting a 7 basis point increase from 2024. The increases in net interest income and net interest margin were primarily driven by lower funding costs and hedge performance improvements as short-term interest rates declined. Net interest income and margin also benefitted from securities reinvestment

45

Table of Contents

activities, executed through multiple, distinct debt securities repositioning transactions. See Table 2 "Volume and Yield/Rate Variances" for further details.

The provision for credit losses totaled $470 million in 2025 compared to $487 million in 2024. In 2025, net charge-offs exceeded the provision for credit losses by $43 million compared to 2024 when the provision for credit losses exceeded net charge-offs by $29 million. Refer to the "Allowance" section of Management's Discussion and Analysis for further detail.

Non-interest income increased year-over-year, totaling $2.5 billion in 2025 compared to $2.3 billion 2024. The improvement was primarily driven by a decline in securities losses associated with less repositioning activity in 2025 compared to 2024. Additionally, most categories of non-interest income increased including investment management and trust fee income, investment services income, other miscellaneous income, and service charges on deposit accounts. See Table 3 "Non-Interest Income" for further details.

Non-interest expense was $4.3 billion in 2025 and $4.2 billion in 2024. The slight increase was driven by an increase in salaries and benefits, other miscellaneous expenses, and professional, legal and regulatory expenses. The increases were partially offset by declines in FDIC insurance assessments and operational losses. See Table 4 "Non-Interest Expense" for further details.

Regions' effective tax rate was 21.4 percent in 2025 compared to 19.6 percent in 2024. See the "Income Taxes" section for further details.

For more information, refer to the following additional sections within this Form 10-K:

•"Operating Results" section of MD&A

•“Net Interest Income and Net Interest Margin” discussion within the “Operating Results” section of MD&A

•“Interest Rate Risk” discussion within the “Risk Management” section of MD&A

Capital

Capital Actions

As a Category IV bank, Regions was not required to participate in the 2025 stress test. Nonetheless, like other Category IV banking organizations, the Company did receive results from the Federal Reserve during the second quarter of 2025. From the fourth quarter of 2025 through the third quarter of 2026, the Company's SCB will remain floored at 2.5 percent. In February 2026, the Federal Reserve voted to maintain SCB requirements at current levels through the third quarter of 2027 to allow time for public feedback on proposed changes to supervisory stress testing models. As such, Regions' SCB will remain floored at 2.5 percent through the third quarter of 2027. See Note 14 "Shareholders' Equity and Accumulated Other Comprehensive Income (Loss)" to the consolidated financial statements for further details regarding CCAR results.

On April 20, 2022, the Board authorized the repurchase of up to $2.5 billion of the Company's common stock, permitting purchases from the second quarter of 2022 through the fourth quarter of 2024, which was subsequently extended through the fourth quarter of 2025. As of December 31, 2025, Regions repurchased approximately 78 million shares of common stock under this program, which reduced shareholders' equity by $1.7 billion. On December 10, 2025, the Board authorized the repurchase of up to $3.0 billion of the Company's common stock for the period beginning January 1, 2026 and extending through December 31, 2027. This authorization supersedes the prior share repurchase program, which expired on December 31, 2025.

For more information, refer to the following additional sections within this Form 10-K:

•"Shareholders' Equity" discussion in MD&A

•"Regulatory Requirements" section of MD&A

•Note 14 "Shareholders' Equity and Accumulated Other Comprehensive Income (Loss)" to the consolidated financial statements

Regulatory Capital

Regions and Regions Bank are required to comply with regulatory capital requirements established by Federal and State banking agencies. Under the Basel III Rules, Regions is designated as a standardized approach bank. The Basel III Rules maintain the minimum guidelines for Regions to be considered well-capitalized for Tier 1 capital and Total capital at 6.0% and 10.0%, respectively. At December 31, 2025, Regions’ Tier 1 capital and Total capital ratios were 11.99% and 13.89%, respectively.

The Basel III Rules also officially defined CET1. Regions' CET1 ratio at December 31, 2025 was estimated to be 10.89%.

For more information, refer to the following additional sections within this Form 10-K:

•“Supervision and Regulation” discussion within Item 1. Business

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•"Regulatory Requirements" section of MD&A

•Note 12 "Regulatory Capital Requirements and Restrictions" to the consolidated financial statements

Loan Portfolio and Credit

During 2025, total loans decreased by $1.1 billion or 1.1 percent compared to 2024. The decrease was driven by a decline in the commercial portfolio of $947 million and the consumer portfolio of $539 million, partially offset by an increase in commercial investor real estate mortgage loans of $605 million. The decline in commercial loans, specifically commercial and industrial loans, was due to strategic runoff in leveraged lending, continued portfolio resolutions, and loans refinancing off the balance sheet through the debt capital markets. The decline in consumer loans was primarily related to a decrease in Regions' home improvement financing portfolio balances. The increase in commercial investor real estate mortgage loans was a result of increases in fundings and new term loans. Refer to the "Portfolio Characteristics" section for further discussion.

Net charge-offs totaled $513 million, or 0.53 percent of average loans, in 2025, compared to $458 million, or 0.47 percent in 2024, driven by an increase in commercial and industrial and commercial investor real estate mortgage net charge-offs from resolutions within previously identified portfolios of interest with established reserves. The allowance was 1.76 percent of total loans, net of unearned income at December 31, 2025, a decrease from 1.79 percent at December 31, 2024. The coverage ratio of allowance to non-performing loans excluding loans held for sale was 242 percent at December 31, 2025, compared to 186 percent at December 31, 2024.

For more information, refer t

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2025 MD&A: /company/RF/mda/fy2025/
All MD&A years: /company/RF/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2024 MD&A](/company/RF/mda/fy2024/): filed 2025-02-21; accession 0001281761-25-000010 (https://www.sec.gov/Archives/edgar/data/1281761/000128176125000010/rf-20241231.htm)
- [FY 2023 MD&A](/company/RF/mda/fy2023/): filed 2024-02-23; accession 0001281761-24-000010 (https://www.sec.gov/Archives/edgar/data/1281761/000128176124000010/rf-20231231.htm)
- [FY 2022 MD&A](/company/RF/mda/fy2022/): filed 2023-02-24; accession 0001281761-23-000012 (https://www.sec.gov/Archives/edgar/data/1281761/000128176123000012/rf-20221231.htm)
- [FY 2021 MD&A](/company/RF/mda/fy2021/): filed 2022-02-24; accession 0001281761-22-000016 (https://www.sec.gov/Archives/edgar/data/1281761/000128176122000016/rf-20211231.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 6021 National Commercial Banks) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [FEDFUNDS](/indicator/FEDFUNDS/): Federal Funds Effective Rate
- [DFEDTARU](/indicator/DFEDTARU/): Federal Funds Target Range - Upper Limit
- [DGS2](/indicator/DGS2/): Market Yield on U.S. Treasury Securities at 2-Year Constant Maturity
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity
- [T10Y2Y](/indicator/T10Y2Y/): 10-Year Treasury Constant Maturity Minus 2-Year Treasury Constant Maturity

Macro-to-micro threads including this sector: [Interest rates & the Fed](/thread/interest-rates-fed/), [Money & trade](/thread/money-trade/), [Consumer & credit](/thread/consumer-credit/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/RF.md · JSON record: /company/RF.json · verified financials: /company/RF/financials.json / /company/RF/financials.csv · machine TOC for the whole site: /llms.txt