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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Statements | Presented below are condensed financial statements of Regions Financial Corporation: Balance Sheets
| December 31
| 2023 |  | 2022
| (In millions)
Assets |  |  |
Interest-bearing deposits in other banks | $ | 1,869 |  |  | $ | 1,594 |
Debt securities available for sale | 20 |  |  | 21 |
Premises and equipment, net | 47 |  |  | 28 |
Investments in subsidiaries: |  |  |
Banks | 16,882 |  |  | 15,676 |
Non-banks | 425 |  |  | 385 |
| 17,307 |  |  | 16,061 |
Other assets | 291 |  |  | 275 |
Total assets | $ | 19,534 |  |  | $ | 17,979 |
Liabilities and Shareholders’ Equity |  |  |
Long-term borrowings | $ | 1,832 |  |  | $ | 1,786 |
Other liabilities | 273 |  |  | 246 |
Total liabilities | 2,105 |  |  | 2,032 |
Shareholders’ equity: |  |  |
Preferred stock | 1,659 |  |  | 1,659 |
Common stock | 10 |  |  | 10 |
Additional paid-in capital | 11,757 |  |  | 11,988 |
Retained earnings | 8,186 |  |  | 7,004 |
Treasury stock, at cost | (1,371) |  |  | (1,371) |
Accumulated other comprehensive income, net | (2,812) |  |  | (3,343) |
Total shareholders’ equity | 17,429 |  |  | 15,947 |
Total liabilities and shareholders’ equity | $ | 19,534 |  |  | $ | 17,979 |
Statements of Income
| Year Ended December 31
| 2023 |  | 2022 |  | 2021
| (In millions)
Income: |  |  |  |  |
Dividends received from subsidiaries | $ | 1,609 |  |  | $ | 1,351 |  |  | $ | 2,250 |
Interest from subsidiaries | 1 |  |  | 4 |  |  | 8 |
Other | 7 |  |  | (3) |  |  | 22 |
| 1,617 |  |  | 1,352 |  |  | 2,280 |
Expenses: |  |  |  |  |
Salaries and employee benefits | 65 |  |  | 64 |  |  | 61 |
Interest expense | 134 |  |  | 86 |  |  | 68 |
Equipment and software expense | (2) |  |  | 4 |  |  | 4 |
Other | 70 |  |  | 62 |  |  | 96 |
| 267 |  |  | 216 |  |  | 229 |
Income before income taxes and equity in undistributed earnings of subsidiaries | 1,350 |  |  | 1,136 |  |  | 2,051 |
Income tax benefit | (43) |  |  | (36) |  |  | (43) |
Income before equity in undistributed earnings of subsidiaries and preferred stock dividends | 1,393 |  |  | 1,172 |  |  | 2,094 |
Equity in undistributed earnings of subsidiaries: |  |  |  |  |
Banks | 644 |  |  | 1,066 |  |  | 372 |
Non-banks | 37 |  |  | 7 |  |  | 55 |
| 681 |  |  | 1,073 |  |  | 427 |
Net income | 2,074 |  |  | 2,245 |  |  | 2,521 |
Preferred stock dividends | (98) |  |  | (99) |  |  | (121) |
Net income available to common shareholders | $ | 1,976 |  |  | $ | 2,146 |  |  | $ | 2,400 |
Statements of Cash Flows
| Year Ended December 31
| 2023 |  | 2022 |  | 2021
| (In millions)
Operating activities: |  |  |  |  |
Net income | $ | 2,074 |  |  | $ | 2,245 |  |  | $ | 2,521 |
Adjustments to reconcile net cash from operating activities: |  |  |  |  |
Equity in undistributed earnings of subsidiaries | (681) |  |  | (1,073) |  |  | (427) |
Provision for (benefit from) deferred income taxes | (4) |  |  | (3) |  |  | (21) |
Depreciation, amortization and accretion, net | 2 |  |  | 2 |  |  | 3 |
Loss on sale of assets | (6) |  |  | — |  |  | — |
Loss (gain) on early extinguishment of debt | — |  |  | — |  |  | 20 |
Net change in operating assets and liabilities: |  |  |  |  |
Other assets | (11) |  |  | 12 |  |  | 61 |
Other liabilities | (9) |  |  | (27) |  |  | 1 |
Other | 74 |  |  | (89) |  |  | (51) |
Net cash from operating activities | 1,439 |  |  | 1,067 |  |  | 2,107 |
Investing activities: |  |  |  |  |
(Investment in) / repayment of investment in subsidiaries | (8) |  |  | (23) |  |  | (21) |
Proceeds from sales and maturities of debt securities available for sale | 13 |  |  | 8 |  |  | 5 |
Purchases of debt securities available for sale | (11) |  |  | (9) |  |  | (3) |
Other, net | (21) |  |  | — |  |  | — |
Net cash from investing activities | (27) |  |  | (24) |  |  | (19) |
Financing activities: |  |  |  |  |
Proceeds from long-term borrowings | — |  |  | — |  |  | 646 |
Payments on long-term borrowings | — |  |  | — |  |  | (1,424) |
Cash dividends on common stock | (787) |  |  | (663) |  |  | (608) |
Cash dividends on preferred stock | (98) |  |  | (99) |  |  | (108) |
Net proceeds from issuance of preferred stock | — |  |  | — |  |  | 390 |
Payment for redemption of preferred stock | — |  |  | — |  |  | (500) |
Repurchases of common stock | (252) |  |  | (230) |  |  | (467) |
Net cash from financing activities | (1,137) |  |  | (992) |  |  | (2,071) |
Net change in cash and cash equivalents | 275 |  | 51 |  |  | 17 |
Cash and cash equivalents at beginning of year | 1,594 |  |  | 1,543 |  |  | 1,526 |
Cash and cash equivalents at end of year | $ | 1,869 |  |  | $ | 1,594 |  |  | $ | 1,543 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480922/205-10-S99-6 Reference 3: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-11 + Details
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