v3.20.4
Business Segment Information
 12 Months Ended
Dec. 31, 2020
Segment Reporting [Abstract]  
Business Segment Information
Each of Regions’ reportable segments is a strategic business unit that serves specific needs of Regions’ customers based on the products and services provided. The segments are based on the manner in which management views the financial performance of the business. The Company has three reportable segments: Corporate Bank, Consumer Bank, and Wealth Management, with the remainder split between Discontinued Operations and Other.
The application and development of management reporting methodologies is a dynamic process and is subject to periodic enhancements. As these enhancements are made, financial results presented by each reportable segment may be periodically revised.
The Corporate Bank segment represents the Company’s commercial banking functions including commercial and industrial, commercial real estate and investor real estate lending. This segment also includes equipment lease financing, as well as capital markets activities, which include securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition and other advisory services. Corporate Bank customers include corporate, middle market, and commercial real estate developers and investors. Corresponding deposit products related to these types of customers are also included in this segment.
The Consumer Bank segment represents the Company’s branch network, including consumer banking products and services related to residential first mortgages, home equity lines and loans, branch small business loans, indirect loans, consumer credit cards and other consumer loans, as well as the corresponding deposit relationships. These services are also provided through the Company's digital channels and contact center.
The Wealth Management segment offers individuals, businesses, governmental institutions and non-profit entities a wide range of solutions to help protect, grow and transfer wealth. Offerings include credit related products, trust and investment management, asset management, retirement and savings solutions and estate planning.
Discontinued operations includes all brokerage and investment activities associated with the sale of Morgan Keegan which closed on April 2, 2012, as well as the sale of Regions Insurance Group, Inc. and related affiliates, which closed on July 2, 2018. See Note 3 "Discontinued Operations" for related discussion.
Other includes the Company’s Treasury function, the securities portfolio, wholesale funding activities, interest rate risk management activities and other corporate functions that are not related to a strategic business unit. Also within Other are certain reconciling items in order to translate the segment results that are based on management accounting practices into consolidated results. Management accounting practices utilized by Regions as the basis of presentation for segment results include the following:
•Net interest income is presented based upon an FTP approach, for which market-based funding charges/credits are assigned within the segments. By allocating a cost or a credit to each product based on the FTP framework, management is able to more effectively measure the net interest margin contribution of its assets/liabilities by segment. The summation of the interest income/expense and FTP charges/credits for each segment is its designated net interest income and other financing income. The variance between the Company’s cumulative FTP charges and cumulative FTP credits is offset in Other.
•Provision for credit losses is allocated to each segment based on an estimated loss methodology. The difference between the consolidated provision for credit losses and the segments’ estimated loss is reflected in Other.
•Income tax expense (benefit) is calculated for the Corporate Bank, Consumer Bank and Wealth Management based on a consistent federal and state statutory rate. Discontinued Operations reflects the actual income tax expense (benefit) of its results. Any difference between the Company’s consolidated income tax expense (benefit) and the segments’ calculated amounts is reflected in Other.
•Management reporting allocations of certain expenses are made in order to analyze the financial performance of the segments. These allocations consist of operational and overhead cost pools and are intended to represent the total costs to support a segment.
The following tables present financial information for each reportable segment for the year ended December 31:
 2020
 Corporate BankConsumer
Bank		Wealth
Management		OtherContinuing
Operations		Discontinued
Operations		Consolidated
 (In millions)
Net interest income (loss)$1,783 $2,274 $156 $(319)$3,894 $— $3,894 
Provision (credit) for credit losses (1)
299 320 14 697 1,330 — 1,330 
Non-interest income656 1,266 343 128 2,393 — 2,393 
Non-interest expense1,026 2,046 346 225 3,643 — 3,643 
Income (loss) before income taxes1,114 1,174 139 (1,113)1,314 — 1,314 
Income tax expense (benefit)279 294 34 (387)220 — 220 
Net income (loss)$835 $880 $105 $(726)$1,094 $— $1,094 
Average assets$61,237 $34,516 $2,021 $40,321 $138,095 $— $138,095 
2019
 Corporate BankConsumer
Bank		Wealth
Management		OtherContinuing
Operations		Discontinued
Operations		Consolidated
 (In millions)
Net interest income (loss)$1,446 $2,336 $180 $(217)$3,745 $— $3,745 
Provision (credit) for credit losses (1)
205 340 16 (174)387 — 387 
Non-interest income538 1,214 330 34 2,116 — 2,116 
Non-interest expense934 2,107 343 105 3,489 — 3,489 
Income (loss) before income taxes845 1,103 151 (114)1,985 — 1,985 
Income tax expense (benefit)211 276 37 (121)403 — 403 
Net income (loss)$634 $827 $114 $7 $1,582 $— $1,582 
Average assets$53,867 $35,045 $2,183 $34,015 $125,110 $— $125,110 
 2018
 Corporate BankConsumer
Bank		Wealth
Management		OtherContinuing
Operations		Discontinued
Operations		Consolidated
 (In millions)
Net interest income (loss)$1,384 $2,216 $194 $(59)$3,735 $1 $3,736 
Provision (credit) for credit losses (1)
191 317 16 (295)229 — 229 
Non-interest income545 1,146 316 12 2,019 349 2,368 
Non-interest expense909 2,066 334 261 3,570 79 3,649 
Income (loss) before income taxes829 979 160 (13)1,955 271 2,226 
Income tax expense (benefit)207 245 40 (105)387 80 467 
Net income (loss)$622 $734 $120 $92 $1,568 $191 $1,759 
Average assets$51,530 $35,066 $2,287 $34,415 $123,298 $82 $123,380 
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(1)Upon adoption of CECL on January 1, 2020, the provision for credit losses is the sum of the provision for loans losses and the provision for unfunded credit commitments. Prior to the adoption of CECL, the provision for unfunded commitments was included in other non-interest expense.