Regions Financial (RF) Tops Q3 EPS by 19c

Regions Financial (NYSE: RF) reported Q3 EPS of $0.52, $0.19 better than the analyst estimate of $0.33.

"This quarter our team delivered strong results during a period of continued uncertainty by staying focused on meeting customer needs, controlling expenses and proactively managing both credit risk and interest rate risk," said John Turner, president and CEO. "We generated our highest adjusted pre-tax pre-provision income(1) in over a decade while improving our adjusted efficiency ratio(1) to its lowest level since 2008."

"The COVID-19 pandemic has accelerated changes in customer behavior and we continue to invest in talented bankers to provide valuable advice and guidance while modernizing our branch network and accelerating digital transformation," continued Turner. "Our efforts to adapt our mobile and online banking platforms to meet customer needs were recently recognized by J.D. Power and our customers who ranked us first among regional banks for online banking satisfaction and second for highest mobile app satisfaction. By executing our strategic plan we will continue to be a source of economic strength for our customers and communities and will deliver sustainable, long-term performance for our shareholders."

For earnings history and earnings-related data on Regions Financial (RF) click here.

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