Regions Financial Corp reported second-quarter earnings of $549 million, or $0.64 per share, with adjusted earnings of $583 million, or $0.68 per share. The bank delivered a record quarter in wealth management income, which rose 6%, and saw adjusted non-interest income increase 7% on a linked-quarter basis. Net interest margin stood at 3.66%, net interest income grew 2%, and average loans increased approximately 2% during the quarter. Credit quality improved as annualized net charge-offs declined 12 basis points to 42 basis points, and the allowance for credit losses ratio fell to 1.63%. The board raised the quarterly common stock dividend by 13% to $0.30 per share, while the estimated Common Equity Tier 1 ratio reached 10.7%.
Regions Financial CorporationQ2 earnings beat, record wealth management income, dividend raised 13%, and strong capital ratio.