Regions Financial Corporation

good morning and welcome to the region's financial corporation's quarterly earnings call my name is christine and i'll be your operator for today's call i would like to remind everyone that all participant phone lines have been placed on listen only at the end of the call there will be a question and answer session if you wish to ask a question please press star 1 on your telephone keypad i will now turn the call over to dana nolan to begin

Thank you, Christine. Welcome to region's fourth quarter 2023 earnings call. John and David will provide high-level commentary regarding our results. Earnings documents, which include our forward-looking statement disclaimer and non-GAAP information, are available in the investor relations section of our website. These disclosures cover our presentation materials, prepared comments, and Q&A. I will now turn the call over to John.

Thank you, Dana, and good morning, everyone. We appreciate you joining our call today. This morning, we reported full-year 2023 earnings of $2 billion, reflecting record pre-tax, pre-provision income of $3.2 billion and one of the best returns on average tangible common equity in our peer group at 22%. Our results speak to and underscore the comprehensive work that's taken place over the past decade to position the company to generate consistent, sustainable earnings regardless of the economic environment we're experiencing. We've enhanced our credit and interest rate risk management processes and platforms while sharpening our focus on risk-adjusted returns and capital allocation. Although the industry continues to face headwinds from lingering economic and geopolitical uncertainty, as well as the continued evolution of the regulatory framework, we feel confident about our positioning and adaptability heading into 2024. We will continue to benefit from our strong and diverse balance sheet, solid capital and liquidity, and prudent credit risk management. Our proactive hedging strategies continue to position us for success in an array of economic conditions. And our desirable footprint, granular deposit base, and relationship banking approach will continue to serve us well. Our strategic plan continues to deliver consistent, sustainable, long-term performance as we focus on soundness, profitability, and growth. In closing, I'm excited to work alongside the 20,000 region associates who put customers and their needs at the center of all we do and focus on doing the right things the right way every day.