Regions Financial
Q4 2022 Earnings Call
Jan 20, 2023, 10:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good morning and welcome to the Regions Financial Corp.'s quarterly earnings call. My name is Christine, and I'll be your operator for today's call. [Operator instructions] I will now turn the call over to Dana Nolan to begin.
Dana Nolan -- Executive Vice President, Head of Investor Relations
Thank you, Christine. Welcome to Region's fourth-quarter 2022 earnings call. John and David will provide high-level commentary regarding the quarter. Earnings documents, which include our forward-looking statement, disclaimer, and non-GAAP information, are available in the Investor Relations section of our website.
These disclosures cover our presentation materials, prepared comments, and Q&A. With that, I'll now turn the call over to John.
John Turner -- President and Chief Executive Officer
Thank you, Dana, and good morning, everyone. We appreciate you joining our call today. Let me begin by saying that we're very pleased with our fourth-quarter and full-year results. Earlier this morning, we reported full-year earnings of $2.1 billion, reflecting record pre-tax preprovision income of $3.1 billion, adjusted positive operating leverage of 7%, and industry-leading returns on both average tangible common equity and total shareholder return.
Our results speak to and underscore the comprehensive work that's taken place over the past decade to position the company to generate consistent, sustainable, long-term performance. We have enhanced our credit, interest rate, and operational risk management processes and platforms while sharpening our focus on risk-adjusted returns and capital allocation. We made investments in markets, technology, talent, and capabilities to diversify our revenue base and enhance our offerings to customers. For example, investments in our Treasury management products and services led to record revenue this year.
Similarly, our wealth management segment also generated record revenue despite volatile market conditions. And now, we're seeing positive results of our comprehensive strategy. Over the course of the year, we grew revenue and average loans while prudently managing expenses, further illustrating the successful execution of our strategic plan. So, as we enter 2023, it is from a position of strength.
Our business customers have strong balance sheets. They have benefited from population migration, and many continue to carry more liquidity than in the past. Our consumer customer base remains healthy, deposit balances remain strong, and credit card payments remain elevated. The job market continues to be solid, with approximately two open jobs available for each unemployed person across the Region's footprint.