Regions Financial Corporation

Good morning and welcome to Regions Financial Corporation's quarterly earnings call. My name is Chris and I will 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 one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. I will now turn the call over to Chris Best to begin.

Thank you, Chris. Welcome to region's third 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, Chris, and good morning, everyone. We appreciate you joining our call today. Earlier this morning, we reported earnings of $611 million, resulting in earnings per share of 71 cents. On an adjusted basis, earnings were $622 million, or 73 cents per share. We delivered adjusted pre-tax, pre-provision income of $870 million and an adjusted return on tangible common equity of 22%. As we move through the second half of the year, what stands out most to me is the consistency of our performance. While continuing to generate strong financial results, we've remained focused on strengthening the franchise through investments in talent, technology, products in key markets. Those investments continue to enhance our ability to serve customers and compete effectively. Across our businesses, we continue to see healthy customer engagement. On the consumer side, we continue to grow households and checking accounts while deepening primary relationships. Commercial clients continue to invest in their businesses, technology and long-term growth initiatives. While the operating environment continues to evolve, Activity levels across the franchise remain constructive. Credit quality continued to be a source of strength during the quarter. Annualized net charge-offs were 29 basis points of average loans, while business services criticized and total non-performing loans continued to decline. Despite these positive trends, we remain focused on actively managing risk across the portfolio. While soundness remains the foundation of our strategy, we're also generating strong momentum across our fee-based businesses. Capital markets and treasury management each delivered record revenue during the quarter, reflecting strong client engagement and continued execution across both businesses. Wealth management revenue moderated from record second quarter levels, but remained strong relative to the prior year. Collectively, capital markets, treasury management, and wealth management continue to perform at historically strong levels, demonstrating the strength of our diversified fee-based business model and the value we provide to our clients. We continue to make meaningful progress on our cloud-based deposit platform implementation and broader modernization efforts. As we've discussed previously, we're taking a deliberate We have a phased approach that we believe appropriately balances execution discipline with the scale and complexity of the initiative. This is one of the most significant technology investments in our company's history. We remain confident in both our approach and the long-term benefits this investment will deliver. Our commitment to long-term investment extends beyond talent and technology to the communities we serve. This year marks 30 years as the official bank of the Southeastern Conference, a milestone we're proud to celebrate. We believe the longevity of that relationship reflects the strength of our brand, the depth of our community relationships, and our longstanding commitment to customers and businesses we serve. As we look ahead, we remain confident in our position. We have a strong franchise, healthy customer relationships, and a leadership team focused on execution. We believe the investments we've made and the momentum we're seeing across the business position regions well for a strong finish to 2026 and sustained success in the years ahead. Now, Anil will provide some highlights regarding the quarter.