Regions Financial reported a mixed Q1 2024, with solid top-line resilience and meaningful margin pressure from a higher-cost deposit mix. Total revenue was $1.7B on a reported basis and $1.8B on an adjusted basis, supported by resilient net interest income (NII) and stronger fee income. Management underscored that NII declined about 4% sequentially and NIM fell about 5 bps, driven by deposits remixing and higher funding costs, even as asset yields benefited from higher rates. Adjusted noninterest income rose 6% QoQ, led by capital markets, real estate, debt capital markets, and M&A activity, with full-year 2024 guidance of $2.3–$2.4B. The quarter featured elevated operating costs related to seasonality and one-off items, but Regions maintains a target for full-year adjusted noninterest expenses near $4.1B, with Q1 representing the high watermark.