Regions reports second quarter earnings of $748 million based on delivery of ‘solid performance’

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July 23, 2021

Birmingham-based Regions Financial Corporation announced its second quarter 2021 earnings on Friday.

The company reported net income available to common shareholders of $748 million and earnings per diluted share of $0.77. The company’s total revenue grew 2% compared to second quarter 2020.

John Turner, president and CEO of Regions Financial Corporation, sees the opportunity for continued growth.

“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,” he said in a release from the company.

He cited growth within the company’s markets as a reason for the encouraging outlook.

“Regions operates in highly attractive markets that are benefiting from favorable population trends and strong employment opportunities,” Turner explained. “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.”

Regions emphasized that its digital investments are generating returns, its business segments are proving resilient amid pandemic recovery conditions and its strategic decisions in high-growth areas, such as Florida, Texas and Tennessee, are delivering results.

The company noted that increased consumer engagement with the bank’s online and mobile banking platforms is generating 9% year-over-year growth in active digital banking users and 13% year-over-year growth in active mobile banking users.

Regions Financial Corporation 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 operates across the South, Midwest and Texas.

Tim Howe is an owner of Yellowhammer Multimedia

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