Regions Financial Corporation Extends Common Stock Repurchase Program
Regions Financial Corporation has some exciting news to share! The Board of Directors recently gave the green light to extend its common stock repurchase program through the last quarter of 2025. This program, first launched back in April 2022, allows for the repurchase of up to $2.5 billion of the company’s common stock from the second quarter of 2022 to the end of 2024. So far, as of September 30, 2024, Regions has already bought back around 31 million shares of common stock, totaling $557 million.
The specifics of when and how much stock will be repurchased depend on different factors like market conditions, internal capital generation, and how much capital is being used for loans or other purposes. It’s important to note that the program doesn’t have specific price targets. Repurchases can happen through various methods, including open market purchases, accelerated share repurchase transactions, or private negotiations. The program is flexible and can be paused at any time.
For those who might not be familiar, Regions Financial Corporation, with $157 billion in assets, is a reputable player in the world of consumer and commercial banking, wealth management, and mortgage services. As a member of the S&P 500 Index, Regions operates in the South, Midwest, and Texas, providing top-notch services through approximately 1,250 banking offices and over 2,000 ATMs. Regions Bank, a subsidiary of the corporation, is an Equal Housing Lender and Member FDIC. If you want to learn more about Regions and the full range of products and services they offer, head over to their website at www.regions.com.
For further information, you can reach out to Jeremy D. King at Regions Bank, or visit Regions News Online at regions.doingmoretoday.com. And if you have any media inquiries, feel free to contact the Regions Media Line at 205-264-4551.
