Parent Company Only Financial Statements

12 Months Ended

Dec. 31, 2024

Presented below are condensed financial statements of Regions Financial Corporation:

Balance Sheets


	December 31
	2024		2023
	(In millions)
Assets
Interest-bearing deposits in other banks	$	2,420	$	1,869

Debt securities available for sale	20		20
Premises and equipment, net	45		47
Investments in subsidiaries:
Banks	18,407		16,882
Non-banks	515		425
	18,922		17,307
Other assets	274		291
Total assets	$	21,681	$	19,534
Liabilities and Shareholders’ Equity

Long-term borrowings	$	3,495	$	1,832
Other liabilities	307		273
Total liabilities	3,802		2,105
Shareholders’ equity:
Preferred stock	1,715		1,659
Common stock	9		10
Additional paid-in capital	11,394		11,757
Retained earnings	9,060		8,186
Treasury stock, at cost	(1,371)		(1,371)
Accumulated other comprehensive income (loss), net	(2,928)		(2,812)
Total shareholders’ equity	17,879		17,429
Total liabilities and shareholders’ equity	$	21,681	$	19,534

Statements of Income


	Year Ended December 31
	2024		2023		2022
	(In millions)
Income:
Dividends received from subsidiaries	$	2,095	$	1,609	$	1,351
Interest from subsidiaries	43		1		4
Other	10		7		(3)
	2,148		1,617		1,352
Expenses:
Salaries and employee benefits	76		65		64
Interest expense	177		134		86
Equipment and software expense	6		(2)		4
Other	80		70		62
	339		267		216
Income before income taxes and equity in undistributed earnings of subsidiaries	1,809		1,350		1,136
Income tax benefit	(41)		(43)		(36)





Income before equity in undistributed earnings of subsidiaries and preferred stock dividends	1,850		1,393		1,172
Equity in undistributed earnings of subsidiaries:
Banks	(42)		644		1,066
Non-banks	85		37		7
	43		681		1,073
Net income	1,893		2,074		2,245
Preferred stock dividends and other	(119)		(98)		(99)
Net income available to common shareholders	$	1,774	$	1,976	$	2,146

Statements of Cash Flows


	Year Ended December 31
	2024		2023		2022
	(In millions)
Operating activities:
Net income	$	1,893	$	2,074	$	2,245
Adjustments to reconcile net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(43)		(681)		(1,073)
Provision for (benefit from) deferred income taxes	(6)		(4)		(3)
Depreciation, amortization and accretion, net	3		2		2
Loss on sale of assets	—		(6)		—


Net change in operating assets and liabilities:
Other assets	28		(11)		12
Other liabilities	28		(9)		(27)
Other	37		74		(89)
Net cash from operating activities	1,940		1,439		1,067
Investing activities:
(Investment in) / repayment of investment in subsidiaries	(1,675)		(8)		(23)
Proceeds from sales and maturities of debt securities available for sale	21		13		8
Purchases of debt securities available for sale	(20)		(11)		(9)



Other, net	(2)		(21)		—
Net cash from investing activities	(1,676)		(27)		(24)
Financing activities:

Proceeds from long-term borrowings	1,740		—		—
Payments on long-term borrowings	(100)		—		—
Cash dividends on common stock	(890)		(787)		(663)
Cash dividends on preferred stock	(104)		(98)		(99)
Net proceeds from issuance of preferred stock	489		—		—
Payment for redemption of preferred stock	(500)		—		—
Repurchases of common stock	(348)		(252)		(230)

Net cash from financing activities	287		(1,137)		(992)
Net change in cash and cash equivalents	551		275		51
Cash and cash equivalents at beginning of year	1,869		1,594		1,543
Cash and cash equivalents at end of year	$	2,420	$	1,869	$	1,594