Regions Financial Corp. (NYSE: RF) reported a decline in net income and revenues for the first quarter of 2024. Net interest income decreased by about 16%
Net income available to common shareholders declined to $343 million or $0.37 per share in Q1 from $588 million or $0.62 per share last yearThe company reported $1.75 billion in total revenue during the quarter, compared to $1.95 billion in Q1 2023Q1 net interest income decreased to $1.18 billion from $1.42 billion in the prior-year periodNet interest margin was 3.55% in the March quarter, compared to $4.22% a year earlierTotal non-interest income came in at $563 million during the three months, vs. $534 million in the same period last yearTotal loans were $97.42 billion in Q1, vs. $97.28 billion last year; total deposits declined to $127.1 billion from $129.0 billion a year earlier
The post Earnings Summary: Regions Financial Corp. (RF) reports Q1 2024 results first appeared on AlphaStreet.
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