Regions Financial Corporation

Good morning and welcome to the Region Financial Corporation's quarterly earnings call. My name is Chris 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. A confirmation tone will indicate your line is in the question queue. I will now turn the call over to Tom Speir to begin.

Thank you, Chris. Welcome to Region Second Quarter 2026 Earnings Call. John and Anil will provide high-level commentary regarding our results. We ask that you review the cautionary statements included in our earnings documents, which are available in the Investor Relations section of our website. These materials contain information regarding the use of non-GAAP measures and reconciliations to the GAAP results, as well as forward-looking statements about Region's performance. These statements speak only as of today, and we undertake no obligation to update them. I will now turn the call over to John. Thank you, Tom, and good morning, everyone.

We appreciate you joining our call today. Earlier this morning, we reported earnings of $549 million, resulting in earnings per share of 64 cents. On an adjusted basis, earnings were $583 million, or 68 cents per share. We delivered adjusted pre-tax, pre-provision income of $831 million, and generated an adjusted return on tangible common equity of 20%. Overall, we're pleased with our performance for the second quarter, reflecting disciplined execution across the franchise and the benefits of investments we've made to position the company to deliver sound and profitable growth. As we look across our footprint, we remain encouraged by the overall operating environment. Economic activity is solid and despite ongoing uncertainty, Businesses are generally well positioned and we continue to see steady levels of investment and job growth across our markets. On the consumer side, spending trends remain healthy and customers maintain solid account balances and liquidity buffers relative to their spending levels, with overall financial conditions remaining stable. This is supporting continued momentum in our core businesses. Loan growth is strengthened, driven by new originations, and expansion within existing client relationships as pipelines continue to build. Average deposits grew modestly, including over 1% growth in non-interest-bearing deposits supported by household and operating account growth. While activity in capital markets and residential mortgage has been impacted by the higher interest rate environment, we continue to see solid performance across our other free businesses, including another record quarter in wealth management income. Credit performance has continued to improve with lower net charge-offs in the quarter and reductions across business-criticized and non-performing loan categories reflecting further progress resolving previously identified portfolios of interest. Based on these trends, we believe credit has largely normalized and we remain committed to our disciplined approach to credit risk management. Turning to our strategic priorities, We've made meaningful progress this quarter advancing our key initiatives that are central to our long-term strategy. We're proud to once again be recognized by J.D. Power as the number one regional bank in online banking satisfaction along with a significant improvement in our mobile app ranking to number two. These results reflect the work we've done to enhance the client experience, deliver more intuitive digital capabilities, and make banking easier for our customers. We also reached an important milestone in our core modernization efforts with a successful implementation of our new commercial lending platform. This represents a significant step forward in enhancing our technology infrastructure, improving speed to market, and elevating the experience we deliver to our clients and bankers. We're also making good progress on our core deposit transformation with testing underway and a pilot expected later this year. keeping us on track for full conversion in 2027. In addition, we're seeing solid results from our strategic investments across each line of business. Within our consumer bank, re-skilled small business bankers have helped generate a 7% increase in year-to-date small business checking account production versus 2024 levels, while small business balances contributed just over 30% of the company's quarter-over-quarter growth in average non-interest-bearing deposits. In commercial banking, over the past 18 months, we've added more than 60 bankers, helping drive an almost 40% increase in new commercial logos through the first half of 2026. Within wealth management, we have also seen strong momentum with advisors hired over the past three years growing client assets by almost $6 billion. Finally, subsequent to quarter-end, we announced the acquisition of the Fraser & Raniere Company, a full-service investment banking firm with strong capabilities in municipal securities. We believe this transaction expands our capital markets platform, enhances our municipal finance expertise, and allows us to broaden the solutions we provide to the public sector and institutional clients. Consistent with our strategy, This is a targeted investment that builds on areas where we've demonstrated strength and positions us to continue growing our capital markets business over time. We feel good about our performance for the quarter and believe we're well positioned to continue executing our strategic plan and deliver consistent, sustainable long-term performance. With that, I'll turn it over to Anil to provide more detail on the quarter. Thank you, John.