Regions Financial sees fall in Q4 interest income, misses profit estimate

Lenders such as Fifth Third Bancorp and Comerica have also forecast a drop in NII as rising interest rates have spurred customers into chasing high-yielding alternatives to bank deposits like money-market funds. To stem the migration, banks are offering higher rates of interest on deposits. Regions Financial reported profit of 49 cents per share in the third quarter, missing analysts' average estimate of 58 cents, according to LSEG data.