Birmingham-based Regions Financial Corporation announced its third quarter 2021 earnings on Friday.
The company reported net income available to common shareholders of $624 million and earnings per diluted share of $0.65. The company’s total revenue grew 2% compared to this year’s second quarter.
Total revenue grew 2% while pre-tax pre-provision income decreased 1%.
John Turner, president and CEO of Regions Financial Corporation, credited the company’s forward-thinking approach for its positive third quarter.
“Our ability to deliver solid third quarter results comes from having both a strong foundation and a strategic plan that positions us to grow effectively and efficiently,” Turner said in statement from Regions.
He pointed to Regions’ commitment to customer relations as contributing to the sustainability of the company’s growth.
“Strong relationships with customers across all segments drive our performance, and our track record of exceptional service continues to deepen those relationships while also bringing in new customers,” Turner explained. “We’re operating in markets that are attractive and growing, and those are the places where we’ll continue to make investments while consistently strengthening the core of our business throughout our footprint.”
Regions’ acquisition of EnerBank will grow its lending to homeowners, while its acquisition of Sabal Capital Partners will expand its services for business clients, according to Turner.
In addition to those increased specialty lending opportunities, the company emphasized that its digital investments are generating returns, and its strategic decisions in high-growth areas are delivering results.
“We have the plan, the team, and the experience to compete with purpose and passion, and we are focused every day on delivering results for our customers, communities, and shareholders,” Turner concluded.
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.
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