Regions Financial sees FY23 adjusted revenue up 6%-8% y/y, consensus $7.77B

Expects 1H23 expenses to be higher than 2H23; expects full-year 2023 adjusted non-interest expenses to increase 4.5%-5.5% compared to 2022. Expects to generate ~2% adjusted operating leverage in 2023; ending loans up ~4%; ending deposits down $3-5B 1H23, trending towards higher end of range; stable/modest growth 2H23; net charge offs/average loans ~35 bps; effective tax rate 22%-23%.