Regions Financial Corporation (NYSE:RF) Q3 2023 Earnings Call Transcript

Gerard Cassidy : Actually, John, just to follow-up quickly there, and putting the geopolitical international issues on the side for a moment, do you have any sense what the customers are looking for to give them more confidence? Is it a Fed finishing with interest rates, raising interest rates that we get to that terminal rate or is it better – the better budgeting out of Washington? Because we hear this from your peers as well, so it’s not uncommon. But we’re – I’m trying to figure out what the catalyst will be where businesses really get confident again.

John Turner: I think the biggest thing is the Federal Reserve and the Fed making a declaration that inflation is now under control and that they are not going to continue to raise rates, don’t have to continue to raise rates. I think sending that message and creating a sense that the environment is more stable than others might, business owners may feel today would be hugely helpful. With respect to what’s going on on the national level, politically, I don’t know that I have an answer for you there, and I don’t expect that to change any time in the near term.

Gerard Cassidy : Great. No, I appreciate it. Thank you.

John Turner : Okay. That’s all the callers for today. I appreciate your participating. Thank you. I’ll just say it has been an unusual quarter. Had a number of things going on but at the core our business is really sound and solid. We have spent the last 10 years working to build a balance sheet and income statement that’s going to be consistently performing, sustainable and resilient. We believe we’ve done that. We have a lot of confidence in our future performance and appreciate your support. Thank you.

Operator: This concludes today’s teleconference. You may disconnect your lines at this time.