Business Segment Information

3 Months Ended

Mar. 31, 2024

NOTE 11. 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 in Other. Additional information about the Company's reportable segments is included in Regions' Annual Report on Form 10-K for the year ended December 31, 2023.

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 and the prior periods updated to reflect these enhancements.

The following tables present financial information for each reportable segment for the periods indicated:


	Three Months Ended March 31, 2024
	Corporate Bank		Consumer Bank		Wealth Management		Other		Consolidated

	(In millions)
Net interest income	$	452	$	692	$	40	$	—	$	1,184
Provision for (benefit from) credit losses	91		68		2		(9)		152
Non-interest income (loss)	218		257		120		(32)		563
Non-interest expense	321		627		110		73		1,131
Income (loss) before income taxes	258		254		48		(96)		464
Income tax expense (benefit)	65		64		12		(45)		96
Net income (loss)	$	193	$	190	$	36	$	(51)	$	368
Average assets	$	68,941	$	38,035	$	2,035	$	42,433	$	151,444


	Three Months Ended March 31, 2023
	Corporate Bank		Consumer Bank		Wealth Management		Other		Consolidated

	(In millions)
Net interest income	$	525	$	838	$	54	$	—	$	1,417
Provision for (benefit from) credit losses	80		67		2		(14)		135
Non-interest income	161		258		114		1		534
Non-interest expense	313		588		110		16		1,027
Income (loss) before income taxes	293		441		56		(1)		789
Income tax expense (benefit)	73		110		14		(20)		177
Net income	$	220	$	331	$	42	$	19	$	612
Average assets	$	69,093	$	37,156	$	2,086	$	44,747	$	153,082

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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+ Details