Regions Financial Corporation Achieves Record-Breaking Quarter, Sets Sights on Continued Growth
Regions Financial Corporation has concluded a record-breaking quarter, with its strong performance driven by consistent focus on superior service, sound profitability, and growth. According to the company's recent conference call transcript reported on January 17, 2025, Regions' capital markets and wealth management businesses, as well as its treasury management products and services, all generated record revenue in 2024.
The company's full-year earnings for 2024 totaled $1.8 billion, resulting in earnings per share of $1.93 and a top-quartile return on average tangible common equity of 18%. This performance is attributed to the company's strong and diverse balance sheet, solid capital liquidity positions, and prudent risk management.
Regions' proactive hedging strategy, investments in fee-generating businesses, desirable footprint, and granular deposit base have also supported its ability to deliver consistent, sustainable long-term performance. The company's presence in some of the best markets in the country has been a significant factor in its success, with its core markets being foundational to its deposit advantage.
Regions' leadership team has expressed excitement about the momentum going into 2025, citing a solid plan for growth and a highly desirable footprint as key factors. The company plans to invest in bankers across all of its segments, including Corporate Banking, Consumer Banking, and Wealth Management, with approximately 140 new hires expected over the next couple of years.
Within the Consumer Bank, Regions will focus on capital allocation to better align resources throughout the branch network, specifically targeting priority markets and small businesses. The company will also invest in enhanced online and mobile capabilities to take advantage of the deposit opportunities presented by the 12 million small businesses within its footprint.
Regions' commitment to customer-centricity has been a key driver of its success, with its 20,000 associates putting customers and their needs at the center of all they do. The company's leadership team is proud to call them teammates and believes that this focus on execution will set it up for top-quartile results in 2025 and beyond.
