The bank reported $0.68 non-GAAP EPS, beating expectations, but revenue missed by $40M amid slight deposit growth.
Regions Financial posted Q2 non-GAAP earnings per share of $0.68, exceeding estimates by $0.05, driven by an 8% year-over-year increase in adjusted net income to $583M. However, revenue declined 0.5% to $1.91B, missing forecasts by $40M.
Average deposits rose marginally to $130.69B from $130.23B in Q1, while net interest margin dipped to 3.66% from 3.67%. The results reflect mixed performance amid stable deposit trends but softer revenue growth.
The bank did not disclose immediate market reactions in the release.