I don't believe in baptismal regeneration. Regeneration is a rebirth of the inner man. If water baptism regenerated a man, then everyone who is baptized would come up a regenerated new creature in Christ. We know this isn't true. A person can go down in the water a sinner and come up a wet sinner. Simon the magician in
Acts 8 is an example of this as his heart was not right with God even though he had recently been water baptized. Regeneration is the birth of the Spirit, which is the old man being transformed into a new creature with the new life of the Spirit of Christ.