ファーストホライズンの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________

FORM 8-K

_____________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

October 15, 2025

Date of Report (date of earliest event reported)

(Exact name of registrant as specified in its charter)


TN	001-15185		62-0803242
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)

165 Madison Avenue	Memphis,	Tennessee	38103
(Address of Principal Executive Offices)			(Zip Code)

(Registrant's telephone number, including area code) (901) 523-4444

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class	Trading Symbol(s)	Name of Exchange on which Registered
$0.625 Par Value Common Capital Stock	FHN	New York Stock Exchange LLC


Depositary Shares, each representing a 1/400th interest in	FHN PR C	New York Stock Exchange LLC
a share of Non-Cumulative Perpetual Preferred Stock, Series C
Depositary Shares, each representing a 1/4,000th interest in	FHN PR E	New York Stock Exchange LLC
a share of Non-Cumulative Perpetual Preferred Stock, Series E
Depositary Shares, each representing a 1/4,000th interest in	FHN PR F	New York Stock Exchange LLC
a share of Non-Cumulative Perpetual Preferred Stock, Series F

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o Furnished as Exhibit 99.1 is a copy of the First Horizon Corporation (“FHN” or "First Horizon") Third Quarter 2025 Earnings Release, released today.

ITEM 2.02. Results of Operations and Financial Condition.

ITEM 7.01. Regulation FD Disclosure.

Furnished as Exhibit 99.2 is a copy of the Investor Slide Presentation for the quarter ended September 30, 2025, released today.

Exhibits 99.1 and 99.2 are furnished pursuant to Item 2.02, “Results of Operations and Financial Condition” and Item 7.01, “Regulation FD Disclosure,” respectively. The exhibits speak as of the date thereof, and FHN does not assume any obligation to update in the future the information therein.

Use of Non-GAAP Measures and Regulatory Measures that are not GAAP in the Exhibits

Certain measures included in the exhibits furnished by this report are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and Board of Directors through various internal reports.

The non-GAAP measures included in the exhibits furnished by this report are identified in the exhibits and in the reconciliations to GAAP measures. Reconciliations of non-GAAP to GAAP measures and presentation of the most comparable GAAP items are presented near the end (immediately before the Glossary) of Exhibit 99.1-Earnings Release and at the end of Exhibit 99.2-Investor Slide Presentation.

Presentation of regulatory measures, even those which are not GAAP, provides a meaningful basis for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures included in the measures furnished by this report include: common equity tier 1 capital ("CET1"), generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk-based capital regulations; and risk-weighted assets ("RWA"), which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios.

Forward-Looking Statements

Each exhibit furnished by this report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in each exhibit; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made and FHN assumes no obligation to update or revise any forward-looking statements that are made in any exhibit or in any other statement, release, report, or filing from time to time. Actual results could differ, and expectations could change, possibly materially, because of one or more factors, including those factors listed in the documents mentioned above, and other factors not listed. Throughout each exhibit, numbers may not total due to rounding, references to EPS are fully diluted and capital ratios for the most recent quarter are estimates.


FIRST HORIZON CORPORATION			2			FORM 8-K CURRENT REPORT 10/15/2025

ITEM 9.01. Financial Statements and Exhibits.

(d)Exhibits

Each of the following Exhibits 99.1 and 99.2, furnished pursuant to Items 2.02 and 7.01, respectively, is not to be considered “filed” under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not be incorporated by reference into any of FHN’s previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act.


Exhibit #						Description

99.1						First Horizon Corporation Third Quarter 2025 Earnings Release
99.2						Investor Slide Presentation for Third Quarter 2025 Earnings
104						Cover Page Interactive Data File, formatted in Inline XBRL


FIRST HORIZON CORPORATION			3			FORM 8-K CURRENT REPORT 10/15/2025

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

FIRST HORIZON CORPORATION

(Registrant)

Date:

October 15, 2025

By:

/s/ Hope Dmuchowski

Hope Dmuchowski

Senior Executive Vice President—Chief Financial Officer

(Duly Authorized Officer and Principal Financial Officer)


FIRST HORIZON CORPORATION			4			FORM 8-K CURRENT REPORT 10/15/2025

EX-99.1 2 a3q2025earningsrelease.htm EX-99.1 Document

First Horizon Corporation Delivers Strong Third Quarter 2025 Results

Net Income Available to Common Shareholders of $254 Million with an EPS of $0.50, a $0.05 Increase from Prior Quarter; $263 Million or $0.51 on an Adjusted Basis, up $0.06 from Prior Quarter*

MEMPHIS, TN (October 15, 2025) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported third quarter net income available to common shareholders ("NIAC") of $254 million or earnings per share of $0.50, compared with second quarter 2025 NIAC of $233 million or earnings per share of $0.45. Third quarter 2025 results decreased by $9 million due to after-tax notable items compared with a $3 million increase in second quarter 2025. Excluding notable items, adjusted third quarter 2025 NIAC was $263 million or $0.51 per share compared to $229 million or $0.45 per share in second quarter 2025.

“We are pleased to report another strong quarter, a testament to the disciplined execution of our strategy and the expertise of our associates,” said Chairman, President and CEO Bryan Jordan. “First Horizon’s diversified business model and attractive geographic footprint position us well amid a changing environment. Our ongoing focus on safety and soundness, profitability, and growth enables us to meet our clients’ evolving needs with tailored solutions that create meaningful value."

Jordan continued, “Credit quality remains a strength, driven by prudent risk management and the dedicated efforts of our associates, who maintain high standards of service for our clients and communities. As economic conditions evolve, our adaptability and solid performance, supported by continued investments in technology and community partnerships, position First Horizon to deliver consistent returns and foster long-term growth for our shareholders.”

Notable Items


Notable Items
Quarterly, Unaudited ($ in millions, except per share data)	3Q25		2Q25		3Q24
Summary of Notable Items:






Deferred compensation adjustment	$	—	$	4	$	—
FDIC special assessment (other noninterest expense)	2		1		2
Other notable expenses	(10)		—		(17)
Total notable items (pre-tax)	$	(8)	$	4	$	(14)
Preferred Stock Dividend **	$	(3)	$	—	$	—
Total notable items (after-tax)	$	(9)	$	3	$	(11)

Numbers may not total due to rounding.
** 3Q25 includes $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock.

Third quarter pre-tax notable items included $2 million of expense credit for the FDIC special assessment and a $10 million impact related to Visa derivative valuation expenses. Third quarter after-tax notable items include $3 million of deemed dividends on the redemption of $80 million par value of Series B Preferred Stock.

*References to "adjusted" results exclude notable items and, along with return on tangible common equity, tangible book value per share, and certain other financial measures, are
non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. Please see page 4 for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 20.

Third Quarter 2025 versus Second Quarter 2025

Net interest income

Net interest income (FTE) increased $33 million to $678 million and net interest margin of 3.55% increased 15 basis points. NII increase was driven by average balance growth in higher yielding portfolios and cash basis income as well as increased accretion related to the Main Street Lending Program.

Noninterest income

Noninterest income increased $26 million to $215 million primarily driven by improvement in the counter-cyclical businesses; specifically, fixed income revenues increased $15 million and mortgage banking revenues increased $6 million driven by a $4.7 million pre-tax gain from a sale of mortgage servicing rights (MSRs) in the quarter.

Noninterest expense

Noninterest expense of $551 million increased $59 million from the prior quarter. Third quarter notable items included $2 million of expense credit for the FDIC special assessment and a $10 million expense tied to Visa derivative valuation expenses. Adjusted noninterest expense of $542 million increased $47 million, largely due to a $28 million increase in other noninterest expense, the largest component of which was a $20 million contribution to the First Horizon Foundation in the third quarter. Outside services increased by $8 million, which reflects project expenses in technology and risk. Additionally, increased incentives and commissions expenses of $6 million reflect fixed income revenue increases in the quarter.

Loans and leases

Average loan and lease balances of $62.8 billion represented a $236 million increase compared to the prior quarter, while period-end balances were $63.1 billion, decreasing $202 million from second quarter 2025. Loans to mortgage companies (LMC) declined $132 million at period end due to typical seasonality, while other C&I balances increased by $174 million. Loan yields of 6.06% increased 14 basis points driven by average balance increases in higher yield portfolios and accretion from the Main Street Lending Program referenced above.

Deposits

Average deposits of $65.9 billion increased $1.2 billion from second quarter 2025. Period-end deposits of $65.5 billion decreased $52 million, driven by a $652 million decrease in brokered deposits, partially offset by a $131 million increase in DDA balances. Interest-bearing deposit cost of 2.78% increased 2 basis points from the prior quarter, with a spot rate of approximately 2.68% at the end of the quarter.

Asset quality

Provision credit of $5 million versus expense of $30 million in the previous quarter. Net charge-offs were $26 million or 17 basis points, down from $34 million or 22 basis points in prior quarter. Nonperforming loans of $605 million increased $13 million, with a decrease in C&I offset by increases in commercial real estate. The ACL to loans ratio decreased from 1.42% in second quarter 2025 to 1.38%, driven by reductions in criticized and classified graded credits and favorable portfolio mix.

Capital

CET1 ratio of 11.0% was consistent with the second quarter 2025. NIAC growth and loan portfolio shrinkage in the quarter was offset by share repurchases totaling $190 million.

Income taxes

Third quarter 2025 effective and adjusted effective tax rates were 22.7%. Both the effective tax rate and adjusted effective tax rate for second quarter 2025 were 20.8%.


SUMMARY RESULTS
Quarterly, Unaudited

										3Q25 Change vs.
($s in millions, except per share and balance sheet data)	3Q25			2Q25			3Q24			2Q25					3Q24
										$/bp			%		$/bp			%
Income Statement
Interest income - taxable equivalent1	$	1,081		$	1,047		$	1,123		$	34		3	%	$	(42)		(4)	%
Interest expense- taxable equivalent1	403			403			491			1			—		(88)			(18)
Net interest income- taxable equivalent	678			645			631			33			5		46			7
Less: Taxable-equivalent adjustment	3			4			4			—			(4)		—			(9)
Net interest income	674			641			627			33			5		47			7
Noninterest income	215			189			200			26			14		15			7
Total revenue	889			830			828			60			7		62			7
Noninterest expense	551			491			511			59			12		39			8
Pre-provision net revenue3	339			339			316			—			—		23			7
Provision for credit losses	(5)			30			35			(35)			(117)		(40)			(114)
Income before income taxes	344			309			281			35			11		63			22
Provision for income taxes	78			64			58			14			22		20			35
Net income	266			244			223			21			9		42			19
Net income attributable to noncontrolling interest	4			4			5			—			3		(1)			(15)
Net income attributable to controlling interest	262			240			218			21			9		43			20
Preferred stock dividends	8			8			5			—			—		3			52
Net income available to common shareholders	$	254		$	233		$	213		$	21		9	%	$	41		19	%

Adjusted net income4	$	272		$	241		$	234		$	31		13	%	$	38		16	%
Adjusted net income available to common shareholders4	$	263		$	229		$	224		$	33		15	%	$	38		17	%
Common stock information
EPS	$	0.50		$	0.45		$	0.40		$	0.05		11	%	$	0.10		25	%
Adjusted EPS4	$	0.51		$	0.45		$	0.42		$	0.06		13	%	$	0.09		21	%


Diluted shares8	510			514			538			(3)			(1)	%	(28)			(5)	%
Key performance metrics
Net interest margin6	3.55		%	3.40		%	3.31		%	15		bp			24		bp

Efficiency ratio	61.92			59.20			61.89			272		bp			3		bp
Adjusted efficiency ratio4	60.76			59.47			59.86			129		bp			90		bp
Effective income tax rate	22.69			20.78			20.58			191		bp			211		bp
Return on average assets	1.29			1.20			1.08			9		bp			21		bp
Adjusted return on average assets4	1.32			1.18			1.13			14		bp			19		bp
Return on average common equity (“ROCE")	11.7			11.1			10.1			60		bp			164		bp

Return on average tangible common equity (“ROTCE”)4	14.5			13.8			12.6			64		bp			189		bp
Adjusted ROTCE4	15.0			13.6			13.2			135		bp			176		bp
Noninterest income as a % of total revenue	24.16			22.73			24.06			143		bp			10		bp
Adjusted noninterest income as a % of total revenue4	24.07		%	22.63		%	23.95		%	144		bp			12		bp
Balance Sheet (billions)
Average loans	$	62.8		$	62.6		$	62.4		$	0.2		—	%	$	0.4		1	%
Average deposits	65.9			64.7			66.3			1.2			2		(0.3)			(1)
Average assets	82.0			82.0			82.4			0.1			—		(0.3)			—
Average common equity	$	8.6		$	8.4		$	8.4		$	0.2		2	%	$	0.2		2	%
Asset Quality Highlights

Allowance for credit losses to loans and leases4	1.38		%	1.42		%	1.44		%	(4)		bp			(6)		bp

Nonperforming loan and leases ratio	0.96		%	0.94		%	0.92		%	2		bp			4		bp
Net charge-off ratio	0.17		%	0.22		%	0.15		%	(5)		bp			2		bp
Net charge-offs	$	26		$	34		$	24		$	(7)		(22)	%	$	2		10	%
Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	11.0		%	11.0		%	11.2		%	(2)		bp			(26)		bp
Tier 1	11.9			12.0			12.2			(13)		bp			(37)		bp
Total Capital	13.8			14.0			14.2			(17)		bp			(46)		bp
Tier 1 leverage	10.5		%	10.6		%	10.6		%	(9)		bp			(18)		bp

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.

Forward-Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN’s Current Report on Form 8-K to which this document has been furnished as an exhibit; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, and other factors not listed.

Throughout this document, numbers may not total due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates.

Use of non-GAAP Measures and Regulatory Measures that are not GAAP

Certain measures included in this report are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN’s management and Board of Directors through various internal reports.

The non-GAAP measures presented in this earnings release are fully taxable equivalent measures, pre-provision net revenue ("PPNR"), return on average tangible common equity (“ROTCE”), tangible common equity (“TCE”) to tangible assets (“TA”), tangible book value ("TBV") per common share, and various consolidated and segment results and performance measures and ratios adjusted for notable items.

Presentation of regulatory measures, even those which are not GAAP, provides a meaningful base for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this financial supplement include: common equity tier 1 capital ("CET1"), generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios.

Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 20.

Conference Call Information

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on October 15, 2025, by dialing 1-833-470-1428 (if calling from the U.S.) or 404-975-4839 (if calling from outside the U.S) and entering access code 547397. The conference call will begin at 8:30 a.m. CT.

Participants can also opt to listen to the live audio webcast at https://ir.firsthorizon.com/events-and-presentations/default.aspx.

A replay of the call will be available beginning at noon CT on October 15 until midnight CT on October 29, 2025. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 101579. A replay of the webcast will also be available on our website on October 15 and will be archived on the site for one year.

First Horizon Corporation (NYSE: FHN), with $83.2 billion in assets as of September 30, 2025, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

Contact: Investor Relations - Tyler Craft - Tyler.Craft@firsthorizon.com

Media Relations - Beth Ardoin - Beth.Ardoin@firsthorizon.com


CONSOLIDATED INCOME STATEMENT
Quarterly, Unaudited

																3Q25 Change vs.
($s in millions, except per share data)	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25				3Q24
																$		%		$		%
Interest income - taxable equivalent1	$	1,081		$	1,047		$	1,017		$	1,071		$	1,123		$	34	3	%	$	(42)	(4)	%
Interest expense- taxable equivalent1	403			403			383			438			491			1		—		(88)		(18)
Net interest income- taxable equivalent	678			645			634			634			631			33		5		46		7
Less: Taxable-equivalent adjustment	3			4			3			4			4			—		(4)		—		(9)
Net interest income	674			641			631			630			627			33		5		47		7
Noninterest income:
Fixed income	57			42			49			49			47			15		36		11		23
Mortgage banking	15			10			8			8			9			6		59		6		70
Brokerage, trust, and insurance	39			39			38			41			39			1		1		—		—
Service charges and fees	57			55			52			53			59			2		4		(1)		(2)
Card and digital banking fees	19			19			18			19			19			(1)		(3)		(1)		(4)
Deferred compensation income9	8			8			(3)			1			6			1		10		2		42

Securities gains/(losses)	—			—			—			(91)			1			—		75		(1)		(81)
Other noninterest income	19			16			18			20			20			3		16		(1)		(7)
Total noninterest income	215			189			181			99			200			26		14		15		7
Total revenue	889			830			812			729			828			60		7		62		7
Noninterest expense:
Personnel expense:
Salaries and benefits	209			206			201			199			199			3		1		10		5
Incentives and commissions	79			73			81			76			76			6		9		3		4
Deferred compensation expense9	8			3			(3)			1			6			5		NM		2		25
Total personnel expense	296			282			279			276			282			14		5		14		5
Occupancy and equipment2	80			79			78			76			73			1		1		7		9
Outside services	79			71			63			72			74			8		12		5		6
Amortization of intangible assets	9			10			10			11			11			(1)		(8)		(2)		(18)
Other noninterest expense	87			50			58			74			71			37		75		16		22
Total noninterest expense	551			491			488			508			511			59		12		39		8
Pre-provision net revenue3	339			339			325			220			316			—		—		23		7
Provision for credit losses	(5)			30			40			10			35			(35)		(117)		(40)		(114)
Income before income taxes	344			309			285			210			281			35		11		63		22
Provision for income taxes	78			64			63			41			58			14		22		20		35
Net income	266			244			222			170			223			21		9		42		19
Net income attributable to noncontrolling interest	4			4			4			4			5			—		3		(1)		(15)
Net income attributable to controlling interest	262			240			218			165			218			21		9		43		20
Preferred stock dividends	8			8			5			8			5			—		—		3		52
Net income available to common shareholders	$	254		$	233		$	213		$	158		$	213		$	21	9	%	$	41	19	%
Common Share Data
EPS	$	0.50		$	0.46		$	0.41		$	0.30		$	0.40		$	0.04	9	%	$	0.10	25	%
Basic shares	505			508			517			528			534			(3)		(1)		(29)		(5)
Diluted EPS	$	0.50		$	0.45		$	0.41		$	0.29		$	0.40		$	0.05	11		$	0.10	25
Diluted shares8	510			514			523			534			538			(3)		(1)	%	(28)		(5)	%

Effective tax rate	22.7		%	20.8		%	22.0		%	19.3		%	20.6		%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


ADJUSTED4 FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 8
Quarterly, Unaudited


																3Q25 Change vs.
($s in millions, except per share data)	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25				3Q24
																$		%		$		%


Net interest income (FTE)1	$	678		$	645		$	634		$	634		$	631		$	33	5	%	$	46	7	%
Adjusted noninterest income:
Fixed income	57			42			49			49			47			15		36		11		23
Mortgage banking	15			10			8			8			9			6		59		6		70
Brokerage, trust, and insurance	39			39			38			41			39			1		1		—		—
Service charges and fees	57			55			52			53			59			2		4		(1)		(2)
Card and digital banking fees	19			19			18			19			19			(1)		(3)		(1)		(4)
Deferred compensation income9	8			8			(3)			1			6			1		10		2		42

Adjusted securities gains/(losses)	—			—			—			—			1			—		75	%	(1)		(81)	%
Adjusted other noninterest income	19			16			18			20			20			3		16		(1)		(7)
Adjusted total noninterest income	$	215		$	189		$	181		$	190		$	200		$	26	14	%	$	15	7	%
Total revenue (FTE)1	$	893		$	833		$	816		$	824		$	832		$	60	7	%	$	61	7	%

Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits	$	209		$	206		$	201		$	199		$	199		$	3	1	%	$	10	5	%
Adjusted Incentives and commissions	79			73			81			73			76			6		9		3		4
Deferred compensation expense9	8			7			(3)			1			6			1		22		2		25
Adjusted total personnel expense	296			286			279			274			281			10		4		14		5
Adjusted occupancy and equipment2	80			79			78			76			73			1		1		7		9
Adjusted outside services	79			71			63			71			73			8		12		6		8
Amortization of intangible assets	9			10			10			11			11			(1)		(8)		(2)		(18)
Adjusted other noninterest expense	79			50			52			74			59			28		56		20		35
Adjusted total noninterest expense	$	542		$	495		$	482		$	506		$	497		$	47	9	%	$	45	9	%

Adjusted pre-provision net revenue4	$	351		$	338		$	334		$	318		$	335		$	13	4	%	$	16	5	%

Provision for credit losses	$	(5)		$	30		$	40		$	10		$	35		$	(35)	(117)	%	$	(40)	(114)	%







Adjusted net income available to common shareholders	$	263		$	229		$	217		$	228		$	224		$	33	15	%	$	38	17	%

Adjusted Common Share Data


Adjusted diluted EPS	$	0.51		$	0.45		$	0.42		$	0.43		$	0.42		$	0.06	13	%	$	0.09	21	%
Diluted shares8	510			514			523			534			538			(3)		(1)	%	(28)		(5)	%

Adjusted effective tax rate	22.7		%	20.8		%	22.0		%	21.0		%	20.8		%
Adjusted ROTCE4	15.0		%	13.6		%	13.1		%	13.3		%	13.2		%
Adjusted efficiency ratio4	60.8		%	59.5		%	59.1		%	61.4		%	59.9		%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


NOTABLE ITEMS
Quarterly, Unaudited


(In millions)	3Q25		2Q25		1Q25		4Q24		3Q24
Summary of Notable Items:


Loss on AFS portfolio restructuring	$	—	$	—	$	—	$	(91)	$	—



Deferred compensation adjustment	—		4		—		—		—
FDIC special assessment (other noninterest expense)	2		1		(1)		1		2
Other notable expenses *	(10)		—		(5)		(3)		(17)
Total notable items (pre-tax)	$	(8)	$	4	$	(6)	$	(94)	$	(14)
Tax-related notable items	$	—	$	—	$	—	$	—	$	—
Preferred Stock Dividend **	$	(3)	$	—	$	—	$	—	$	—

Numbers may not total due to rounding.

* 4Q24 and 3Q24 include $3 million and $2 million of restructuring expenses; 3Q25, 1Q25, and 3Q24 include $10 million, $5 million, and $15 million of Visa derivative valuation expenses

** 3Q25 includes $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock.


IMPACT OF NOTABLE ITEMS:
Quarterly, Unaudited



($s in millions, except per share data)	3Q25		2Q25		1Q25		4Q24		3Q24
Impacts of Notable Items:



Noninterest income:







Securities (gains)/losses	$	—	$	—	$	—	$	91	$	—

Total noninterest income	$	—	$	—	$	—	$	91	$	—


Noninterest expense:
Personnel expenses:

Incentives and commissions	$	—	$	—	$	—	$	(2)	$	—
Deferred compensation expense	—		4		—		—		—
Total personnel expenses	—		4		—		(2)		(1)

Outside services	—		—		—		(1)		(1)

Other noninterest expense	(8)		1		(6)		1		(13)
Total noninterest expense	$	(8)	$	4	$	(6)	$	(2)	$	(14)


Income before income taxes	$	8	$	(4)	$	6	$	94	$	14
Provision for income taxes	2		(1)		1		23		4
Preferred stock dividends *	(3)		—		—		—		—
Net income/(loss) available to common shareholders	$	9	$	(3)	$	4	$	71	$	11
EPS impact of notable items	$	0.01	$	—	$	0.01	$	0.13	$	0.02

Numbers may not total due to rounding.

* 3Q25 includes $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock.


FINANCIAL RATIOS
Quarterly, Unaudited
																3Q25 Change vs.
	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25					3Q24
FINANCIAL RATIOS																$/bp			%		$/bp			%
Net interest margin6	3.55		%	3.40		%	3.42		%	3.33		%	3.31		%	15		bp			24		bp

Return on average assets	1.29		%	1.20		%	1.11		%	0.82		%	1.08		%	9		bp			21		bp
Adjusted return on average assets4	1.32		%	1.18		%	1.14		%	1.17		%	1.13		%	14		bp			19		bp
Return on average common equity (“ROCE”)	11.74		%	11.14		%	10.30		%	7.38		%	10.10		%	60		bp			164		bp

Return on average tangible common equity (“ROTCE”)4	14.49		%	13.85		%	12.81		%	9.17		%	12.60		%	64		bp			189		bp
Adjusted ROTCE4	15.00		%	13.65		%	13.08		%	13.27		%	13.24		%	135		bp			176		bp
Noninterest income as a % of total revenue	24.16		%	22.73		%	22.29		%	23.20		%	24.06		%	143		bp			10		bp
Adjusted noninterest income as a % of total revenue4	24.07		%	22.63		%	22.20		%	23.10		%	23.95		%	144		bp			12		bp
Efficiency ratio	61.92		%	59.20		%	60.06		%	61.98		%	61.89		%	272		bp			3		bp
Adjusted efficiency ratio4	60.76		%	59.47		%	59.09		%	61.43		%	59.86		%	129		bp			90		bp
Allowance for credit losses to loans and leases4	1.38		%	1.42		%	1.45		%	1.43		%	1.44		%	(4)		bp			(6)		bp

CAPITAL DATA
CET1 capital ratio*	11.0		%	11.0		%	10.9		%	11.2		%	11.2		%	(2)		bp			(26)		bp
Tier 1 capital ratio*	11.9		%	12.0		%	11.9		%	12.2		%	12.2		%	(13)		bp			(37)		bp
Total capital ratio*	13.8		%	14.0		%	14.1		%	14.2		%	14.2		%	(17)		bp			(46)		bp
Tier 1 leverage ratio*	10.5		%	10.6		%	10.5		%	10.6		%	10.6		%	(9)		bp			(18)		bp
Risk-weighted assets (“RWA”) (billions)*	$	72.0		$	71.7		$	70.8		$	71.1		$	71.5		$	0.2		—	%	$	0.5		1	%
Total equity to total assets	11.11		%	11.28		%	11.10		%	11.09		%	11.27		%	(17)		bp			(16)		bp
Tangible common equity/tangible assets (“TCE/TA”)4	8.55		%	8.58		%	8.37		%	8.37		%	8.56		%	(3)		bp			(1)		bp
Period-end shares outstanding (millions)8	500			509			507			524			532			(8)			(2)	%	(32)			(6)	%
Cash dividends declared per common share	$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	—		—	%	$	—		—	%
Book value per common share	$	17.19		$	16.78		$	16.40		$	16.00		$	16.15		$	0.41		2	%	$	1.04		6	%
Tangible book value per common share4	$	13.94		$	13.57		$	13.17		$	12.85		$	13.02		$	0.37		3	%	$	0.92		7	%


SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)	96.23		%	96.47		%	96.90		%	95.40		%	93.80		%	(23)		bp			244		bp
Loans-to-deposit ratio (average balances)	95.24		%	96.62		%	95.57		%	94.44		%	94.19		%	(137)		bp			105		bp
Full-time equivalent associates	7,341			7,255			7,190			7,158			7,186			86			1	%	155			2	%

*Current quarter is an estimate.

See footnote disclosures on page 19 and glossary of terms on page 25.

CONSOLIDATED PERIOD-END BALANCE SHEET

Quarterly, Unaudited


											3Q25 Change vs.
(In millions)	3Q25		2Q25		1Q25		4Q24		3Q24		2Q25				3Q24
Assets:											$		%		$		%

Loans and leases:
Commercial, financial, and industrial (C&I)	$	34,401	$	34,359	$	33,354	$	33,428	$	33,092	$	42	—	%	$	1,310	4	%
Commercial real estate	13,674		13,936		14,139		14,421		14,705		(261)		(2)		(1,031)		(7)
Total Commercial	48,076		48,295		47,493		47,849		47,797		(219)		—		279		1
Consumer real estate	14,403		14,368		14,089		14,047		13,961		36		—		443		3
Credit card and other5	579		597		633		670		688		(18)		(3)		(109)		(16)
Total Consumer	14,982		14,965		14,722		14,716		14,648		17		—		334		2
Loans and leases, net of unearned income	63,058		63,260		62,215		62,565		62,445		(202)		—		612		1
Loans held for sale	501		402		510		551		494		99		25		7		1
Investment securities	9,332		9,362		9,333		9,166		9,530		(31)		—		(198)		(2)
Trading securities	2,070		1,430		1,376		1,387		1,549		640		45		521		34
Interest-bearing deposits with banks	1,228		911		1,164		1,538		1,286		317		35		(58)		(4)
Federal funds sold and securities purchased under agreements to resell	774		527		728		631		1,008		247		47		(233)		(23)
Total interest earning assets	76,963		75,893		75,326		75,838		76,311		1,070		1		652		1
Cash and due from banks	912		988		915		906		1,028		(76)		(8)		(116)		(11)
Goodwill and other intangible assets, net	1,624		1,633		1,643		1,653		1,663		(9)		(1)		(39)		(2)
Premises and equipment, net	553		561		569		574		572		(8)		(1)		(18)		(3)
Allowance for loan and lease losses	(777)		(814)		(822)		(815)		(823)		37		5		46		6
Other assets	3,916		3,823		3,861		3,996		3,883		94		2		33		1
Total assets	$	83,192	$	82,084	$	81,491	$	82,152	$	82,635	$	1,109	1	%	$	558	1	%

Liabilities and Shareholders' Equity:
Deposits:
Savings	$	26,365	$	25,939	$	26,242	$	26,695	$	26,634	$	426	2	%	$	(269)	(1)	%
Time deposits	6,201		7,270		5,918		6,613		8,326		(1,069)		(15)		(2,125)		(26)
Other interest-bearing deposits	16,936		16,477		16,213		16,252		15,403		460		3		1,533		10
Total interest-bearing deposits	49,502		49,685		48,373		49,560		50,363		(183)		—		(861)		(2)
Trading liabilities	662		469		670		550		767		192		41		(106)		(14)
Federal funds purchased and securities sold under agreements to repurchase	2,675		3,201		2,572		2,355		1,910		(525)		(16)		765		40
Short-term borrowings	1,596		260		1,223		1,045		675		1,336		NM		921		137
Term borrowings	1,328		1,342		1,691		1,195		1,202		(14)		(1)		126		10
Total interest-bearing liabilities	55,763		54,957		54,529		54,705		54,918		806		1		845		2
Noninterest-bearing deposits	16,023		15,892		15,835		16,021		16,212		131		1		(189)		(1)
Other liabilities	2,163		1,978		2,084		2,315		2,189		185		9		(26)		(1)
Total liabilities	73,948		72,826		72,447		73,041		73,318		1,122		2		630		1
Shareholders' Equity:
Preferred stock	349		426		426		426		426		(77)		(18)		(77)		(18)
Common stock	313		318		317		328		333		(5)		(2)		(20)		(6)
Capital surplus	4,288		4,459		4,472		4,809		4,947		(171)		(4)		(659)		(13)
Retained earnings	4,848		4,671		4,516		4,382		4,304		177		4		544		13
Accumulated other comprehensive loss, net	(849)		(912)		(983)		(1,128)		(989)		63		7		140		14
Combined shareholders' equity	8,949		8,962		8,749		8,816		9,021		(13)		—		(72)		(1)
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,244		9,257		9,044		9,111		9,316		(13)		—		(72)		(1)
Total liabilities and shareholders' equity	$	83,192	$	82,084	$	81,491	$	82,152	$	82,635	$	1,109	1	%	$	558	1	%
Memo:
Total deposits	$	65,525	$	65,576	$	64,208	$	65,581	$	66,575	$	(52)	—	%	$	(1,050)	(2)	%
Loans to mortgage companies	$	3,926	$	4,058	$	3,369	$	3,471	$	3,244	$	(132)	(3)	%	$	682	21	%
Unfunded Loan Commitments:
Commercial	$	18,485	$	17,784	$	17,974	$	17,863	$	18,180	$	702	4	%	$	305	2	%
Consumer	$	4,036	$	4,153	$	4,190	$	4,203	$	4,281	$	(117)	(3)	%	$	(245)	(6)	%

Numbers may not total due to rounding. See footnote disclosures on page 19 and glossary of terms on page 25.

CONSOLIDATED AVERAGE BALANCE SHEET

Quarterly, Unaudited


											3Q25 Change vs.
(In millions)	3Q25		2Q25		1Q25		4Q24		3Q24		2Q25				3Q24
Assets:											$		%		$		%
Loans and leases:
Commercial, financial, and industrial (C&I)	$	34,011	$	33,634	$	32,632	$	33,107	$	33,074	$	377	1	%	$	938	3	%
Commercial real estate	13,772		14,070		14,318		14,601		14,684		(298)		(2)		(912)		(6)
Total Commercial	47,784		47,704		46,951		47,709		47,758		79		—		26		—
Consumer real estate	14,409		14,224		14,046		14,008		13,935		185		1		474		3
Credit card and other5	594		623		649		701		720		(28)		(5)		(125)		(17)
Total Consumer	15,004		14,847		14,694		14,709		14,654		157		1		349		2
Loans and leases, net of unearned income	62,787		62,551		61,645		62,418		62,413		236		—		375		1
Loans held-for-sale	454		501		519		482		491		(47)		(9)		(37)		(7)
Investment securities	9,321		9,330		9,209		9,295		9,400		(10)		—		(80)		(1)
Trading securities	1,625		1,609		1,442		1,515		1,469		16		1		156		11
Interest-bearing deposits with banks	1,272		1,259		1,265		1,438		1,741		12		1		(470)		(27)
Federal funds sold and securities purchased under agreements to resell	573		636		713		594		607		(63)		(10)		(33)		(5)
Total interest earning assets	76,032		75,887		74,793		75,742		76,121		145		—		(89)		—
Cash and due from banks	860		864		886		911		905		(4)		—		(44)		(5)
Goodwill and other intangible assets, net	1,628		1,638		1,648		1,658		1,669		(9)		(1)		(40)		(2)
Premises and equipment, net	556		565		570		571		578		(9)		(2)		(21)		(4)
Allowances for loan and lease losses	(809)		(828)		(827)		(821)		(827)		18		2		18		2
Other assets	3,781		3,831		3,896		3,889		3,921		(50)		(1)		(140)		(4)
Total assets	$	82,049	$	81,958	$	80,965	$	81,950	$	82,366	$	91	—	%	$	(318)	—	%

Liabilities and shareholders' equity:
Deposits:
Savings	$	26,326	$	25,899	$	26,544	$	26,836	$	26,062	$	427	2	%	$	263	1	%
Time deposits	6,871		6,630		6,329		7,407		8,167		241		4		(1,296)		(16)
Other interest-bearing deposits	16,866		16,362		16,096		15,726		15,923		503		3		942		6
Total interest-bearing deposits	50,063		48,891		48,970		49,969		50,153		1,171		2		(90)		—
Trading liabilities	549		613		692		578		576		(64)		(10)		(27)		(5)
Federal funds purchased and securities sold under agreements to repurchase	2,631		2,692		2,479		2,205		2,132		(60)		(2)		500		23
Short-term borrowings	387		1,208		681		441		884		(821)		(68)		(497)		(56)
Term borrowings	1,335		1,556		1,332		1,206		1,188		(221)		(14)		148		12
Total interest-bearing liabilities	54,965		54,960		54,154		54,398		54,931		5		—		34		—
Noninterest-bearing deposits	15,862		15,851		15,535		16,123		16,111		10		—		(249)		(2)
Other liabilities	1,999		2,050		2,165		2,213		2,196		(51)		(2)		(198)		(9)
Total liabilities	72,825		72,861		71,854		72,735		73,238		(36)		—		(413)		(1)
Shareholders' Equity:
Preferred stock	350		426		426		426		426		(77)		(18)		(77)		(18)
Common stock	316		318		323		330		334		(2)		(1)		(18)		(6)
Capital surplus	4,379		4,464		4,664		4,881		4,973		(85)		(2)		(594)		(12)
Retained earnings	4,798		4,562		4,468		4,382		4,254		236		5		544		13
Accumulated other comprehensive loss, net	(913)		(967)		(1,066)		(1,099)		(1,154)		54		6		240		21
Combined shareholders' equity	8,928		8,802		8,816		8,920		8,833		126		1		95		1
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,224		9,097		9,111		9,216		9,128		126		1		95		1
Total liabilities and shareholders' equity	$	82,049	$	81,958	$	80,965	$	81,950	$	82,366	$	91	—	%	$	(318)	—	%
Memo:
Total deposits	$	65,924	$	64,742	$	64,504	$	66,092	$	66,263	$	1,182	2	%	$	(339)	(1)	%
Loans to mortgage companies	$	3,628	$	3,533	$	2,819	$	3,283	$	2,875	$	96	3	%	$	754	26	%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES
Quarterly, Unaudited
																					3Q25 Change vs.
	3Q25				2Q25				1Q25				4Q24				3Q24				2Q25					3Q24
(In millions, except rates)	Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense					Income/Expense
																					$/bp			%		$/bp			%
Interest earning assets/Interest income:
Loans and leases, net of unearned income:


Commercial	$	767	6.37	%	$	738	6.21	%	$	715	6.18	%	$	771	6.43	%	$	813	6.78	%	$	29		4	%	$	(46)		(6)	%


Consumer	191		5.07		186		4.99		182		4.96		183		4.97		186		5.05		5			3		5			3
Loans and leases, net of unearned income	957		6.06		924		5.92		897		5.89		954		6.09		999		6.37		34			4		(41)			(4)
Loans held-for-sale	8		6.86		8		6.76		9		7.09		9		7.38		10		7.77		(1)			(8)		(2)			(18)
Investment securities	72		3.09		71		3.06		69		3.02		62		2.69		61		2.58		1			1		11			19
Trading securities	24		5.81		23		5.72		20		5.57		22		5.74		22		6.05		1			2		1			6
Interest-bearing deposits with banks	14		4.41		14		4.45		14		4.44		17		4.77		24		5.40		—			1		(10)			(40)
Federal funds sold and securities purchased under agreements	6		4.20		7		4.24		7		4.24		7		4.46		8		5.23		(1)			(10)		(2)			(24)
Interest income	$	1,081	5.65	%	$	1,047	5.53	%	$	1,017	5.50	%	$	1,071	5.63	%	$	1,123	5.88	%	$	34		3	%	$	(42)		(4)	%

Interest bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings	$	184	2.78	%	$	177	2.73	%	$	175	2.67	%	$	210	3.11	%	$	225	3.43	%	$	8		4	%	$	(41)		(18)	%
Time deposits	64		3.71		64		3.88		62		4.00		81		4.35		95		4.63		—			—		(31)			(32)
Other interest-bearing deposits	102		2.41		96		2.36		92		2.31		99		2.49		114		2.85		6			6		(12)			(10)
Total interest-bearing deposits	351		2.78		337		2.76		329		2.72		389		3.10		434		3.44		14			4		(83)			(19)
Trading liabilities	5		3.93		6		4.07		7		4.29		6		4.01		6		4.13		(1)			(13)		(1)			(9)
Federal funds purchased and securities sold under agreements to repurchase	23		3.52		24		3.61		21		3.47		21		3.72		23		4.20		(1)			(3)		1			4
Short-term borrowings	4		4.39		13		4.47		7		4.40		5		4.75		12		5.52		(9)			(68)		(8)			(65)
Term borrowings	19		5.82		22		5.60		18		5.41		17		5.52		17		5.64		(2)			(11)		3			16
Interest expense	403		2.91		403		2.94		383		2.87		438		3.20		491		3.56		1			—		(88)			(18)
Net interest income - tax equivalent basis	678		2.74		645		2.59		634		2.63		634		2.43		631		2.32		33			5		46			7
Fully taxable equivalent adjustment	(3)		0.81		(4)		0.81		(3)		0.79		(4)		0.90		(4)		0.99		—			4		—			9
Net interest income	$	674	3.55	%	$	641	3.40	%	$	631	3.42	%	$	630	3.33	%	$	627	3.31	%	$	33		5	%	$	47		7	%

Memo:
Total loan yield			6.06	%			5.92	%			5.89	%			6.09	%			6.37	%	14		bp			(31)		bp
Total deposit cost			2.11	%			2.09	%			2.07	%			2.34	%			2.61	%	2		bp			(50)		bp
Total funding cost			2.26	%			2.28	%			2.23	%			2.47	%			2.75	%	(2)		bp			(49)		bp
Average loans and leases, net of unearned income	$	62,787			$	62,551			$	61,645			$	62,418			$	62,413			$	236		—	%	$	375		1	%
Average deposits	65,924				64,742				64,504				66,092				66,263				1,182			2	%	(339)			(1)	%
Average funded liabilities	70,827				70,811				69,689				70,521				71,042				$	15		—	%	$	(215)		—	%

Net interest income and yields are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes.

Earning assets yields are expressed net of unearned income.

Loan yields include loan fees, cash basis interest income, and loans on nonaccrual status.

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")
Quarterly, Unaudited

	As of															3Q25 change vs.
(In millions, except ratio data)	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25				3Q24
																$		%		$		%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)	$	211		$	224		$	195		$	173		$	190		$	(14)	(6)	%	$	21	11	%
Commercial real estate	254			236			284			294			259			18		8		(4)		(2)
Consumer real estate	139			131			129			133			128			8		6		11		8
Credit card and other5	1			1			1			2			1			—		15		—		3
Total nonperforming loans and leases	$	605		$	593		$	609		$	602		$	578		$	13	2	%	$	28	5	%

Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)	0.61		%	0.65		%	0.58		%	0.52		%	0.57		%
Commercial real estate	1.86			1.70			2.01			2.04			1.76
Consumer real estate	0.96			0.91			0.92			0.95			0.92
Credit card and other5	0.25			0.21			0.19			0.23			0.20
Total nonperforming loans and leases to loans and leases	0.96		%	0.94		%	0.98		%	0.96		%	0.92		%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Quarterly, Unaudited

	As of										3Q25 change vs.
(In millions)	3Q25		2Q25		1Q25		4Q24		3Q24		2Q25				3Q24
											$		%		$		%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)	$	1	$	1	$	1	$	1	$	1	$	—	2	%	$	—	16	%
Commercial real estate	—		—		—		—		—		—		NM		—		NM
Consumer real estate	6		6		7		19		13		—		(5)		(7)		(55)
Credit card and other5	2		1		—		1		3		—		38		(1)		(36)
Total loans and leases 90 days or more past due and accruing	$	9	$	8	$	8	$	21	$	17	$	—	5	%	$	(8)	(49)	%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)
Quarterly, Unaudited

	As of															3Q25 change vs.
(In millions, except ratio data)	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25				3Q24
Charge-off, Recoveries and Related Ratios																$		%		$		%
Gross Charge-offs
Commercial, financial, and industrial (C&I)	$	25		$	28		$	34		$	13		$	12		$	(3)	(10)	%	$	12	99	%
Commercial real estate	3			8			3			9			15			(4)		(56)		(12)		(78)
Consumer real estate	1			2			—			1			1			(1)		(51)		—		38
Credit card and other5	6			6			4			6			5			1		11		2		32
Total gross charge-offs	$	36		$	43		$	41		$	29		$	33		$	(7)	(17)	%	$	2	7	%
Gross Recoveries
Commercial, financial, and industrial (C&I)	$	(6)		$	(6)		$	(6)		$	(12)		$	(4)		$	—	(5)	%	$	(2)	(43)	%
Commercial real estate	—			—			(3)			—			(1)			—		NM		1		75
Consumer real estate	(1)			(2)			(1)			(2)			(3)			—		5		1		41
Credit card and other5	(1)			(2)			(1)			(1)			(1)			1		35		—		22
Total gross recoveries	$	(9)		$	(9)		$	(12)		$	(15)		$	(9)		$	—	—	%	$	—	—	%
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I)	$	19		$	22		$	28		$	1		$	8		$	(3)	(14)	%	$	10	NM
Commercial real estate	3			8			(1)			9			14			(5)		(59)		(11)		(78)
Consumer real estate	(1)			—			(1)			(2)			(2)			(1)		NM		1		67
Credit card and other5	5			4			3			5			3			1		29		2		53
Total net charge-offs	$	26		$	34		$	29		$	13		$	24		$	(7)	(22)	%	$	2	10	%

Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I)	0.22		%	0.26		%	0.35		%	0.01		%	0.10		%
Commercial real estate	0.09			0.22			(0.02)			0.25			0.39
Consumer real estate	(0.02)			—			(0.02)			(0.05)			(0.05)
Credit card and other5	3.54			2.64			1.60			2.78			1.92
Total loans and leases	0.17		%	0.22		%	0.19		%	0.08		%	0.15		%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS
Quarterly, Unaudited

	As of										3Q25 Change vs.
(In millions)	3Q25		2Q25		1Q25		4Q24		3Q24		2Q25				3Q24
Summary of Changes in the Components of the Allowance For Credit Losses											$		%		$		%
Allowance for loan and lease losses - beginning	$	814	$	822	$	815	$	823	$	821	$	(8)	(1)	%	$	(7)	(1)	%













Charge-offs:
Commercial, financial, and industrial (C&I)	(25)		(28)		(34)		(13)		(12)		3		10		(12)		(99)
Commercial real estate	(3)		(8)		(3)		(9)		(15)		4		56		12		78
Consumer real estate	(1)		(2)		—		(1)		(1)		1		51		—		(38)
Credit card and other5	(6)		(6)		(4)		(6)		(5)		(1)		(11)		(2)		(32)
Total charge-offs	(36)		(43)		(41)		(29)		(33)		7		17		(2)		(7)
Recoveries:
Commercial, financial, and industrial (C&I)	6		6		6		12		4		—		5		2		43
Commercial real estate	—		—		3		—		1		—		NM		(1)		(75)
Consumer real estate	1		2		1		2		3		—		(5)		(1)		(41)
Credit card and other5	1		2		1		1		1		(1)		(35)		—		(22)
Total Recoveries	9		9		12		15		9		—		—		—		—
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I)	5		23		28		(5)		15		(18)		(77)		(10)		(66)
Commercial real estate	(5)		(5)		(2)		18		11		(1)		(12)		(16)		NM
Consumer real estate	(15)		4		8		(10)		(3)		(19)		NM		(12)		NM
Credit card and other5	4		3		2		4		2		1		23		2		79
Total provision for loan and lease losses:	(11)		26		36		6		26		(37)		NM		(37)		NM
Allowance for loan and lease losses - ending	$	777	$	814	$	822	$	815	$	823	$	(37)	(5)	%	$	(46)	(6)	%

Reserve for unfunded commitments - beginning	$	87	$	83	$	79	$	75	$	66	$	4	5	%	$	21	32	%


Provision for unfunded commitments	6		4		4		4		9		2		50		(3)		(33)
Reserve for unfunded commitments - ending	$	93	$	87	$	83	$	79	$	75	$	6	7	%	$	18	24	%
Total allowance for credit losses- ending	$	870	$	901	$	905	$	894	$	897	$	(31)	(3)	%	$	(28)	(3)	%

Numbers may not total due to rounding.

See footnote disclosures on page 19 and glossary of terms on page 25.


CONSOLIDATED ASSET QUALITY RATIOS - ALLOWANCE FOR LOAN AND LEASE LOSSES
Quarterly, Unaudited

	As of
	3Q25		2Q25		1Q25		4Q24		3Q24

Allowance for loans and lease losses to loans and leases
Commercial, financial, and industrial (C&I)	0.97	%	1.01	%	1.04	%	1.03	%	1.06	%
Commercial real estate	1.49	%	1.53	%	1.59	%	1.57	%	1.48	%
Consumer real estate	1.52	%	1.63	%	1.63	%	1.57	%	1.65	%
Credit card and other5	3.42	%	3.50	%	3.41	%	3.28	%	3.39	%
Total allowance for loans and lease losses to loans and leases	1.23	%	1.29	%	1.32	%	1.30	%	1.32	%
Allowance for loans and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)	158	%	155	%	178	%	199	%	185	%
Commercial real estate	80	%	90	%	79	%	77	%	84	%
Consumer real estate	158	%	179	%	178	%	167	%	180	%
Credit card and other5	1,380	%	1,684	%	1,752	%	1,438	%	1,672	%
Total allowance for loans and lease losses to nonperforming loans and leases	128	%	137	%	135	%	136	%	142	%

Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4	1.38	%	1.42	%	1.45	%	1.43	%	1.44	%
Total allowance for credit losses to nonperforming loans and leases4	144	%	152	%	148	%	149	%	155	%

See footnote disclosures on page 19 and glossary of terms on page 25.

COMMERCIAL, CONSUMER, AND WEALTH

Quarterly, Unaudited


																3Q25 Change vs.
	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25					3Q24
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	660		$	634		$	624		$	635		$	634		$	26		4	%	$	26		4	%
Noninterest income	117			113			110			116			119			3			3		(2)			(2)
Total revenue	777			747			734			751			754			30			4		23			3
Noninterest expense	365			354			344			361			352			11			3		14			4
Pre-provision net revenue3	411			393			390			390			402			19			5		9			2
Provision for credit losses	2			13			38			15			42			(12)			(88)		(41)			(96)
Income before income tax expense	410			380			352			375			359			30			8		50			14
Income tax expense	98			90			84			89			85			8			8		13			15
Net income	$	312		$	289		$	268		$	286		$	274		$	23		8	%	$	38		14	%

Average Balances (billions)
Total loans and leases	$	56.4		$	56.3		$	56.2		$	56.5		$	56.9		$	0.1		—	%	$	(0.5)		(1)	%
Interest-earning assets	56.4			56.3			56.2			56.5			56.9			0.1			—		(0.5)			(1)
Total assets	58.8			58.7			58.7			59.1			59.5			0.1			—		(0.7)			(1)
Total deposits	59.1			58.9			59.1			59.9			59.7			0.3			—		(0.5)			(1)

Key Metrics
Net interest margin6	4.67		%	4.53		%	4.52		%	4.49		%	4.46		%	14		bp			21		bp
Efficiency ratio	47.05		%	47.43		%	46.85		%	48.13		%	46.67		%	(38)		bp			38		bp
Loans-to-deposits ratio (period-end balances)	94.56		%	95.33		%	94.28		%	94.14		%	94.41		%	(77)		bp			15		bp
Loans-to-deposits ratio (average-end balances)	95.30		%	95.59		%	94.99		%	94.30		%	95.26		%	(29)		bp			4		bp
Return on average assets (annualized)	2.10		%	1.98		%	1.85		%	1.92		%	1.83		%	12		bp			27		bp
Return on allocated equity7	25.14		%	23.03		%	21.50		%	22.38		%	21.59		%	211		bp			355		bp
Financial center locations	413			414			414			416			416			(1)					(3)

Numbers may not total due to rounding.

Certain previously reported amounts have been reclassified to agree with current presentation.

See footnote disclosures on page 19 and glossary of terms on page 25.

Commercial, Consumer, and Wealth segment: Offers financial products and services, including traditional lending and deposit taking, to commercial and consumer clients primarily in the southern U.S. and other selected markets. Commercial, Consumer & Wealth also consists of lines of business that deliver product offerings and services with niche industry knowledge including asset-based lending, commercial real estate, equipment finance/leasing, energy, international banking, healthcare, and transportation and logistics. Additionally, Commercial, Consumer & Wealth provides investment, wealth management, financial planning, trust and asset management services for consumer clients as well as delivering treasury management solutions, loan syndications, and corporate banking services.

WHOLESALE

Quarterly, Unaudited


																3Q25 Change vs.
	3Q25			2Q25			1Q25			4Q24			3Q24			2Q25					3Q24
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	60		$	57		$	50		$	54		$	52		$	3		6	%	$	9		17	%
Noninterest income	74			53			59			58			57			20			38		17			31
Total revenue	134			111			109			112			108			24			21		26			24
Noninterest expense	83			76			76			76			75			8			10		8			11
Pre-provision net revenue3	51			35			33			36			33			16			46		18			56
Provision for credit losses	(1)			6			3			1			(7)			(6)			(109)		6			93
Income before income tax expense	52			29			30			35			40			22			76		12			30
Income tax expense	12			7			7			8			10			5			77		3			30
Net income	$	39		$	22		$	23		$	27		$	30		$	17		75	%	$	9		29	%

Average Balances (billions)
Total loans and leases	$	6.0		$	5.8		$	5.0		$	5.5		$	5.1		$	0.1		3	%	$	0.9		17	%
Interest-earning assets	8.7			8.6			7.8			8.2			7.7			—			—		0.9			12
Total assets	9.4			9.3			8.5			8.9			8.4			—			1		0.9			11
Total deposits	2.2			2.1			2.0			2.0			1.9			0.1			5		0.3			16

Key Metrics
Fixed income product average daily revenue (thousands)	$	771		$	550		$	586		$	659		$	593		$	221		40	%	$	178		30	%
Net interest margin6	2.78		%	2.67		%	2.59		%	2.64		%	2.67		%	11		bp			11		bp
Efficiency ratio	61.93		%	68.29		%	69.58		%	67.65		%	69.60		%	(636)		bp			(768)		bp
Loans-to-deposits ratio (period-end balances)	319		%	312		%	288		%	305		%	281		%	735		bp			3,817		bp
Loans-to-deposits ratio (average-end balances)	276		%	282		%	252		%	278		%	273		%	(669)		bp			272		bp
Return on average assets (annualized)	1.66		%	0.96		%	1.08		%	1.19		%	1.43		%	70		bp			24		bp
Return on allocated equity7	27.16		%	15.96		%	16.56		%	18.99		%	21.36		%	1,120		bp			580		bp

Numbers may not total due to rounding.

Certain previously reported amounts have been reclassified to agree with current presentation.

See footnote disclosures on page 19 and glossary of terms on page 25.

Wholesale segment: Consists of lines of business that deliver product offerings and services with differentiated industry knowledge. Wholesale’s lines of business include mortgage warehouse lending, franchise finance, correspondent banking, and mortgage. Additionally, Wholesale has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales.

CORPORATE

Quarterly, Unaudited


											3Q25 Change vs.
	3Q25		2Q25		1Q25		4Q24		3Q24		2Q25				3Q24
											$		%		$		%
Income Statement (millions)
Net interest income/(expense)	$	(46)	$	(50)	$	(42)	$	(59)	$	(59)	$	4	7	%	$	12	21	%
Noninterest income	25		22		12		(75)		25		3		12		—		—
Total revenues	(22)		(28)		(30)		(134)		(34)		6		23		12		37
Noninterest expense	102		61		68		71		84		41		67		18		21
Pre-provision net revenue3	(124)		(89)		(98)		(205)		(118)		(34)		(38)		(5)		(4)
Provision for credit losses	(6)		11		(1)		(6)		—		(17)		NM		(6)		NM
Income before income tax expense	(118)		(100)		(97)		(199)		(118)		(17)		(17)		1		—
Income tax expense (benefit)	(32)		(33)		(28)		(57)		(37)		1		3		5		12
Net income/(loss)	$	(85)	$	(67)	$	(69)	$	(143)	$	(81)	$	(18)	(27)	%	$	(4)	(5)	%

Average Balance Sheet (billions)
Interest bearing assets	$	11.0	$	11.0	$	10.8	$	11.1	$	11.5	$	—	—	%	$	(0.5)	(5)	%
Total assets	13.9		13.9		13.8		14.0		14.4		—		—		(0.6)		(4)

Numbers may not total due to rounding.

Certain previously reported amounts have been reclassified to agree with current presentation.

Corporate segment: Consists primarily of corporate support functions including risk management, audit, accounting, finance, executive office, and corporate communications. Shared support services such as human resources, marketing, properties, technology, credit risk and bank operations are allocated to the activities of Commercial, Consumer & Wealth, Wholesale and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of balance sheet funding, liquidity, and capital management and allocation. The Corporate segment also includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses.

FOOTNOTES

1 Taxable equivalent interest income and interest expense are non-GAAP measures and are reconciled to net interest income (GAAP) in the table.

2 Occupancy and Equipment expense includes Computer Software Expense.

3 Pre-provision net revenue is a non-GAAP measure and is reconciled to income before income taxes (GAAP) in the table.

4 Represents a non-GAAP measure and is reconciled to the nearest GAAP measure in the non-GAAP to GAAP reconciliations beginning on page 20.

5 Credit card and other includes $154 million of commercial credit card balances at September 30, 2025.

6 Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent and, where applicable, state taxes.

7 Segment equity is allocated based on an internal allocation methodology.

8 Share count for all periods shown was impacted by share repurchases.

9 Balance fluctuates based on market conditions. 1Q25 decrease driven by equity market valuations.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions, except per share data)	3Q25			2Q25			1Q25			4Q24			3Q24

Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	9,244		$	9,257		$	9,044		$	9,111		$	9,316
Less: Noncontrolling interest (a)	295			295			295			295			295
Less: Preferred stock (a)	349			426			426			426			426
(B) Total common equity	$	8,600		$	8,536		$	8,322		$	8,389		$	8,595
Less: Intangible assets (GAAP) (b)	1,624			1,633			1,643			1,653			1,663
(C) Tangible common equity (Non-GAAP)	$	6,976		$	6,903		$	6,680		$	6,737		$	6,931

Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	83,192		$	82,084		$	81,491		$	82,152		$	82,635
Less: Intangible assets (GAAP) (b)	1,624			1,633			1,643			1,653			1,663
(E) Tangible assets (Non-GAAP)	$	81,568		$	80,451		$	79,849		$	80,499		$	80,971












Period-end Shares Outstanding
(F) Period-end shares outstanding	500			509			507			524			532

Ratios


(A)/(D) Total equity to total assets (GAAP)	11.11		%	11.28		%	11.10		%	11.09		%	11.27		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	8.55		%	8.58		%	8.37		%	8.37		%	8.56		%
(B)/(F) Book value per common share (GAAP)	$	17.19		$	16.78		$	16.40		$	16.00		$	16.15
(C)/(F) Tangible book value per common share (Non-GAAP)	$	13.94		$	13.57		$	13.17		$	12.85		$	13.02

(a) Included in Total equity on the Consolidated Balance Sheet.

(b) Includes goodwill and other intangible assets, net of amortization.

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions, except per share data)		3Q25			2Q25			1Q25			4Q24			3Q24

Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)	a	$	254		$	233		$	213		$	158		$	213
Plus Total notable items (after-tax) (Non-GAAP) (a)		$	9		$	(3)		$	4		$	71		$	11
Adjusted net income available to common shareholders (Non-GAAP)	b	$	263		$	229		$	217		$	228		$	224

Diluted Shares (GAAP)8	c	510			514			523			534			538

Diluted EPS (GAAP)	a/c	$	0.50		$	0.45		$	0.41		$	0.29		$	0.40
Adjusted diluted EPS (Non-GAAP)	b/c	$	0.51		$	0.45		$	0.42		$	0.43		$	0.42

Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)		$	266		$	244		$	222		$	170		$	223
Plus Relevant notable items (after-tax) (Non-GAAP) (a)		$	6		$	(3)		$	4		$	71		$	11
Adjusted NI (Non-GAAP)		$	272		$	241		$	227		$	240		$	234

NI (annualized) (GAAP)	d	$	1,055		$	980		$	901		$	675		$	889
Adjusted NI (annualized) (Non-GAAP)	e	$	1,079		$	967		$	919		$	956		$	932

Average assets (GAAP)	f	$	82,049		$	81,958		$	80,965		$	81,950		$	82,366

ROA (GAAP)	d/f	1.29		%	1.20		%	1.11		%	0.82		%	1.08		%
Adjusted ROA (Non-GAAP)	e/f	1.32		%	1.18		%	1.14		%	1.17		%	1.13		%

Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE




Net income available to common shareholders ("NIAC") (annualized) (GAAP)	g	$	1,007		$	933		$	864		$	627		$	849
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)	h	$	1,042		$	919		$	882		$	907		$	892

Average Common Equity (GAAP)	i	$	8,579		$	8,376		$	8,389		$	8,494		$	8,407
Intangible Assets (GAAP) (b)		1,628			1,638			1,648			1,658			1,669
Average Tangible Common Equity (Non-GAAP)	j	$	6,950		$	6,738		$	6,742		$	6,836		$	6,738



ROCE (GAAP)	g/i	11.74		%	11.14		%	10.30		%	7.38		%	10.10		%


ROTCE (Non-GAAP)	g/j	14.49		%	13.85		%	12.81		%	9.17		%	12.60		%
Adjusted ROTCE (Non-GAAP)	h/j	15.00		%	13.65		%	13.08		%	13.27		%	13.24		%

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.

(b) Includes goodwill and other intangible assets, net of amortization.

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

(In millions)		3Q25			2Q25			1Q25			4Q24			3Q24

Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)	k	$	215		$	189		$	181		$	99		$	200
Plus notable items (pretax) (GAAP) (a)		—			—			—			91			—
Adjusted noninterest income (Non-GAAP)	l	$	215		$	189		$	181		$	190		$	200

Revenue (GAAP)	m	$	889		$	830		$	812		$	729		$	828
Taxable-equivalent adjustment		3			4			3			4			4
Revenue- Taxable-equivalent (Non-GAAP)		893			833			816			732			832
Plus notable items (pretax) (GAAP) (a)		—			—			—			91			—
Adjusted revenue (Non-GAAP)	n	$	893		$	833		$	816		$	824		$	832

Securities gains/(losses) (GAAP)	o	$	—		$	—		$	—		$	(91)		$	1

Noninterest income as a % of total revenue (GAAP)	(k-o)/ (m-o)	24.16		%	22.73		%	22.29		%	23.20		%	24.06		%
Adjusted noninterest income as a % of total revenue (Non-GAAP)	l/n	24.07		%	22.63		%	22.20		%	23.10		%	23.95		%

Adjusted Efficiency Ratio
Noninterest expense (GAAP)	p	$	551		$	491		$	488		$	508		$	511
Plus notable items (pretax) (GAAP) (a)		$	(8)		$	4		$	(6)		$	(2)		$	(14)
Adjusted noninterest expense (Non-GAAP)	q	$	542		$	495		$	482		$	506		$	497

Revenue (GAAP)	r	$	889		$	830		$	812		$	729		$	828
Taxable-equivalent adjustment		3			4			3			4			4
Revenue- Taxable-equivalent (Non-GAAP)		893			833			816			732			832
Plus notable items (pretax) (GAAP) (a)		—			—			—			91			—
Adjusted revenue (Non-GAAP)	s	$	893		$	833		$	816		$	824		$	832

Securities gains/(losses) (GAAP)	t	$	—		$	—		$	—		$	(91)		$	1

Efficiency ratio (GAAP)	p/ (r-t)	61.92		%	59.20		%	60.06		%	61.98		%	61.89		%
Adjusted efficiency ratio (Non-GAAP)	q/s	60.76		%	59.47		%	59.09		%	61.43		%	59.86		%

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.

(b) Includes goodwill and other intangible assets, net of amortization.

Numbers may not total due to rounding.

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION

Quarterly, Unaudited

($s in millions)



	Period-end								Average
	3Q25		2Q25		3Q25 vs. 3Q24				3Q25		2Q25		3Q25 vs. 3Q24










Loans excluding LMC
Total Loans (GAAP)	$	63,058	$	63,260	$	(202)	—	%	$	62,787	$	62,551	$	236	—	%
LMC (GAAP)	3,926		4,058		(132)		(3)	%	3,628		3,533		96		3	%
Total Loans excl. LMC (Non-GAAP)	59,131		59,201		(70)		—	%	59,159		59,019		140		—	%
Total Consumer (GAAP)	14,982		14,965		17		—	%	15,004		14,847		157		1	%
Total Commercial excl. LMC (Non-GAAP)	44,149		44,237		(87)		—	%	44,156		44,172		(16)		—	%
Total CRE (GAAP)	13,674		13,936		(261)		(2)	%	13,772		14,070		(298)		(2)	%
Total C&I excl. LMC (Non-GAAP)	$	30,475	$	30,301	$	174	1	%	$	30,383	$	30,102	281		1	%

Numbers may not total due to rounding.



		3Q25			2Q25			1Q25			4Q24			3Q24
Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases
Allowance for loan and lease losses (GAAP)	A	$	777		$	814		$	822		$	815		$	823
Reserve for unfunded commitments (GAAP)		93			87			83			79			75
Allowance for credit losses (Non-GAAP)	B	$	870		$	901		$	905		$	894		$	897

Loans and leases (GAAP)	C	$	63,058		$	63,260		$	62,215		$	62,565		$	62,445
Nonaccrual loans and leases (GAAP)	D	$	605		$	593		$	609		$	602		$	578

Allowance for loans and lease losses to loans and leases (GAAP)	A/C	1.23		%	1.29		%	1.32		%	1.30		%	1.32		%
Allowance for credit losses to loans and leases (Non-GAAP)	B/C	1.38		%	1.42		%	1.45		%	1.43		%	1.44		%

Allowance for loans and lease losses to nonperforming loans and leases (GAAP)	A/D	128		%	137		%	135		%	136		%	142		%
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)	B/D	144		%	152		%	148		%	149		%	155		%

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions)

	3Q25		2Q25		1Q25		4Q24		3Q24
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)	$	344	$	309	$	285	$	210	$	281
Plus notable items (pretax) (GAAP) (a)	8		(4)		6		94		14
Adjusted Pre-tax income (non-GAAP)	$	352	$	304	$	290	$	304	$	296
Plus provision expense (GAAP)	(5)		30		40		10		35
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)	$	347	$	334	$	330	$	314	$	331
Taxable-equivalent adjustment	3		4		3		4		4
Pre-provision net revenue-Taxable-equivalent (Non-GAAP)	$	351	$	338	$	334	$	318	$	335

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.

Numbers may not total due to rounding.







	3Q25		2Q25		1Q25		4Q24		3Q24
Adjusted personnel expense excluding deferred compensation expense
Personnel expense (GAAP)	$	296	$	282	$	279	$	276	$	282
Plus notable items (pretax) (GAAP) (a)	—		4		—		(2)		(1)
Adjusted personnel expense (non-GAAP)	$	296	$	286	$	279	$	274	$	281
Less adjusted deferred compensation expense (GAAP)	8		7		(3)		1		6
Adjusted personnel expense excluding deferred compensation expense (non-GAAP)	$	288	$	279	$	282	$	272	$	275

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.

Numbers may not total due to rounding.

GLOSSARY OF TERMS

Common Equity Tier 1 Ratio: Ratio consisting of common equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, less disallowed portions of goodwill, other intangibles, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets.

Fully Taxable Equivalent (“FTE”): Reflects the amount of tax-exempt income adjusted to a level that would yield the same after-tax income had that income been subject to taxation.

Tier 1 Capital Ratio: Ratio consisting of shareholders’ equity adjusted for certain unrealized gains/(losses) on available-for-sale securities, plus qualifying portions of noncontrolling interests, less disallowed portions of goodwill, other intangible assets, and deferred tax assets as well as certain other regulatory deductions divided by risk-weighted assets.

Key Ratios

Return on Average Assets: Ratio is annualized net income to average total assets.

Return on Average Common Equity: Ratio is annualized net income available to common shareholders to average common equity.

Return on Average Tangible Common Equity: Ratio is annualized net income available to common shareholders to average tangible common equity.

Noninterest Income as a Percentage of Total Revenue: Ratio is noninterest income excluding securities gains/(losses) to total revenue - taxable equivalent excluding securities gains/(losses).

Efficiency Ratio: Ratio is noninterest expense to total revenue - taxable equivalent excluding securities gains/(losses).

Leverage Ratio: Ratio is tier 1 capital to average assets for leverage.

Asset Quality - Consolidated Key Ratios

Nonperforming loans and leases ("NPL") %: Ratio is nonaccruing loans and leases in the loan portfolio to total period-end loans and leases.

Net charge-offs %: Ratio is annualized net charge-offs to total average loans and leases.

Allowance / loans and leases: Ratio is allowance for loan and lease losses to total period-end loans and leases.

Allowance / Nonperforming loans and leases: Ratio is allowance for loan and lease losses to nonperforming loans and leases in the loan portfolio.

Operating Segments

EX-99.2 3 a3q25earningsslides.htm EX-99.2 a3q25earningsslides

Third Quarter 2025 Earnings October 15, 2025

Disclaimers Non-GAAP Information Certain measures included in this document are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN’s management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. Non-GAAP measures are reported to FHN's management and Board of Directors through various internal reports. The non-GAAP measures presented in this document are listed, and are reconciled to the most comparable GAAP presentation, in the non-GAAP reconciliation table(s) appearing in the Appendix. In addition, presentation of regulatory measures, even those which are not GAAP, provides a meaningful base for comparability to other financial institutions subject to the same regulations as FHN, as demonstrated by their use by banking regulators in reviewing capital adequacy of financial institutions. Although not GAAP terms, these regulatory measures are not considered “non-GAAP” under U.S. financial reporting rules as long as their presentation conforms to regulatory standards. Regulatory measures used in this document include: common equity tier 1 capital, generally defined as common equity less goodwill, other intangibles, and certain other required regulatory deductions; tier 1 capital, generally defined as the sum of core capital (including common equity and instruments that cannot be redeemed at the option of the holder) adjusted for certain items under risk-based capital regulations; and risk-weighted assets, which is a measure of total on- and off-balance sheet assets adjusted for credit and market risk, used to determine regulatory capital ratios. Forward-Looking Statements This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other similar expressions that indicate future events and trends. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN’s control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN’s actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN’s Current Report on Form 8-K to which this document has been furnished as an exhibit; in the forepart, and in Items 1, 1A, and 7, of FHN’s most recent Annual Report on Form 10-K; and in the forepart, and in Item 1A of Part II, of FHN’s Quarterly Report(s) on Form 10-Q filed after that Annual Report. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and FHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Actual results could differ and expectations could change, possibly materially, because of one or more factors, including those factors listed in this document or the documents mentioned above, and other factors not listed. Throughout this document numbers may not total due to rounding, references to EPS are fully diluted, and capital ratios for the most recent quarter are estimates. 2

3Q25 reported financial summary PPNR, TBVPS, and ROTCE are non-GAAP and are reconciled to GAAP measures in the Appendix. $ in millions except per share data Reported Results 3Q25 Change vs. 3Q25 2Q25 1Q25 4Q24 3Q24 2Q25 3Q24 Net interest income $674 $641 $631 $630 $627 $33 5% $47 7% Fee income 215 189 181 99 200 26 14% 15 7% Total revenue 889 830 812 729 828 60 7% 62 7% Expense 551 491 488 508 511 59 12% 39 8% Pre-provision net revenue (PPNR) 339 339 325 220 316 — —% 23 7% Provision for credit losses (5) 30 40 10 35 (35) (117%) (40) (114%) Pre-tax income 344 309 285 210 281 35 11% 63 22% Income tax expense 78 64 63 41 58 14 22% 20 35% Net income 266 244 222 170 223 21 9% 42 19% Non-controlling interest 4 4 4 4 5 — 3% (1) (15%) Preferred dividends 8 8 5 8 5 — —% 3 52% Net income available to common shareholders (NIAC) $254 $233 $213 $158 $213 $21 9% $41 19% Diluted EPS $0.50 $0.45 $0.41 $0.29 $0.40 $0.05 11% $0.10 25% Diluted shares 510 514 523 534 538 (3) (1%) (28) (5%) ROCE 11.7% 11.1% 10.3% 7.4% 10.1% 60bps 164bps ROTCE 14.5% 13.8% 12.8% 9.2% 12.6% 64bps 189bps ROA 1.3% 1.2% 1.1% 0.8% 1.1% 9bps 21bps Net interest margin 3.55% 3.40% 3.42% 3.33% 3.31% 15bps 24bps Fee income / total revenue 24.2% 22.7% 22.3% 23.2% 24.1% 143bps 10bps Efficiency ratio 61.9% 59.2% 60.1% 62.0% 61.9% 272bps 3bps FTEs (full-time equivalent associates) 7,341 7,255 7,190 7,158 7,186 86 1% 155 2% CET1 ratio 11.0% 11.0% 10.9% 11.2% 11.2% (2bps) (26bps) Effective tax rate 22.7% 20.8% 22.0% 19.3% 20.6% 191bps 211bps Tangible book value per share (TBVPS) $13.94 $13.57 $13.17 $12.85 $13.02 $0.37 3% $0.92 7% Period end loans $63.1B $63.3B $62.2B $62.6B $62.4B ($0.2) —% $0.6 1% Period end deposits $65.5B $65.6B $64.2B $65.6B $66.6B ($0.1) —% ($1.0) (2%) Period end loan to deposit ratio 96% 96% 97% 95% 94% (23bps) 244bps 3

3Q25 adjusted financial results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 3Q25 notable items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 NII and NIM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Adjusted fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Adjusted expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Asset quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 2025 outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Strategic focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Table of Contents 4

3Q25 adjusted financial highlights PPNR, ROTCE, TBVPS, ACL to loans ratio, fully taxable equivalents, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. Net interest income and margin are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. $ in millions, except per share data Adjusted Results 3Q25 Change vs. 3Q25 2Q25 3Q24 2Q25 3Q24 Net interest income (FTE) $678 $645 $631 $33 5% $46 7% Fee income $215 $189 $200 $26 14% $15 7% Total revenue (FTE) $893 $833 $832 $60 7% $61 7% Expense $542 $495 $497 $47 9% $45 9% Pre-provision net revenue $351 $338 $335 $13 4% $16 5% Provision for credit losses ($5) $30 $35 ($35) (117%) ($40) (114%) Net charge-offs $26 $34 $24 ($7) (22%) $2 10% Reserve build / (release) ($31) ($4) $11 ($28) NM ($42) NM NIAC $263 $229 $224 $33 15% $38 17% EPS $0.51 $0.45 $0.42 $0.06 13% $0.09 21% Diluted shares 510 514 538 (3) (1%) (28) (5%) ROTCE 15.0% 13.6% 13.2% 135bps 176bps ROA 1.3% 1.2% 1.1% 14bps 19bps Net interest margin (NIM) 3.55% 3.40% 3.31% 15bps 24bps Fee income / total revenue 24.1% 22.6% 24.0% 144bps 12bps Efficiency ratio 60.8% 59.5% 59.9% 129bps 90bps CET1 Ratio 11.0% 11.0% 11.2% (2bps) (26bps) TBVPS $13.94 $13.57 $13.02 $0.37 3% $0.92 7% Effective tax rate 22.7% 20.8% 20.8% 197bps 194bps • Adjusted EPS of $0.51, a $0.06 increase from 2Q25 • Adjusted ROTCE of 15.0% increased 135bps from 2Q25 • Adjusted PPNR of $351 million up 4% from 2Q25 • NII up $33 million from prior quarter, driven by average loan balance growth and accretion from the Main Street Lending Program • NIM expansion of 15bps, driven by higher loan yields and a 2bps decrease in total funding costs • Adjusted fee income excluding deferred compensation increased $26 million, with fixed income ADR increasing 40% • Adjusted expense excluding deferred compensation increased $45 million reflecting Foundation giving of $20 million in the quarter, outside service expense increases of $8 million, and increased commissions from fixed income ADR growth • Provision credit of $5 million down from a $30 million expense in 2Q25 • Net charge-offs decreased to $26 million, or 0.17% of total loans, down from $34 million in 2Q25 • CET1 Ratio remained at 11.0% in line with near-term target 5

3Q25 notable items Notable Items ($ in millions, except per share data) 3Q25 FDIC special assessment (other noninterest expense) $2 Visa Derivative Valuation Expense (other noninterest expense) ($10) Pre-tax impact of notable items ($8) Tax impact on pre-tax notable items $2 Series B Preferred Stock ($3) NIAC impact of notable items ($9) EPS impact of notable items $0.01 Pre-Tax Notable Items • $10 million tied to Visa derivative valuation expenses • Expense credit of $2 million associated with an updated FDIC special assessment 6 After-Tax Notable Items • Effective 8/1/25, First Horizon redeemed all outstanding shares of the Series B Preferred Stock and related depository shares ◦ The Series B Preferred Stock was classified in permanent equity, which resulted in the redemption’s including a deemed dividend of $3 million

NII growth from advantageous portfolio composition • Net interest income increased $33 million and net interest margin expanded 15bps versus 2Q25 ◦ Interest income and net interest margin benefited from increased accretion of $12 million related to the Main Street Lending Program (MSLP) ◦ Total funding costs decreased 2bps driven by improved wholesale funding costs ◦ Loan yields ex. MSLP improved due to average balance growth in higher yielding portfolios and cash basis income • As of period end 3Q25, 56%1 of loans are indexed to short-term rates • Fixed rate cash flows over the next year include ~$5 billion of fixed rate loans with a roll-off yield of ~4.8% and $1 billion of securities with a roll-off yield of ~2.7% $631 $634 $634 $645 $678 3.31% 3.33% 3.42% 3.40% 3.55% 3Q24 4Q24 1Q25 2Q25 3Q25 Net interest income ($) and NIM (%) Net interest income and margin are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. 1Does not include the impact of interest rate hedges. For more detail on the hedges, see slide 17 in the Appendix. $ in millions NII Margin 2Q25 $645 3.40% Days $4 MSLP Accretion $12 0.07% Loan Yields ex. MSLP $9 0.05% Total Customer Deposit Balances $2 —% Total Wholesale Funds Rate Paid $3 0.02% Other $3 0.01% 3Q25 $678 3.55% 7

Seasonal deposit fluctuations with continued strong retention Period end deposits $66.6B $65.6B $64.2B $65.6B $65.5B $16.2 $16.0 $15.8 $15.9 $16.0 $16.3 $16.0 $16.2 $14.7 $13.6 $22.3 $21.5 $20.9 $22.1 $22.7 $9.2 $10.7 $10.5 $10.5 $11.4 $2.5 $1.4 $0.8 $2.4 $1.8 Noninterest bearing deposits Base rate deposits Promotional deposits & CDs Indexed deposits Brokered CDs 3Q24 4Q24 1Q25 2Q25 3Q25 • 3Q25 period end deposits of $65.5 billion ◦ Decrease of $52 million versus 2Q25 driven by a $652 million decrease in brokered CDs offset by growth in indexed and promo deposits ◦ Retained ~97% of ~$29 billion of total balances for clients who experienced a promotional deposit or CD repricing event during the third quarter, while reducing costs by 16bps on these balances • 3Q25 average deposits of $65.9 billion ◦ Brokered CDs averaged $634 million higher in 3Q25 reflecting seasonal LMC balance changes ◦ Average DDA balances increased $10 million from the prior quarter • 3Q25 interest-bearing rate paid of 2.78%, up 2bps ◦ Maintained strong repricing performance with ~67% cumulative beta since Fed rate cuts began in 3Q24 ◦ Quarter end interest-bearing deposit spot rate was ~2.68% 8

Stable loan portfolio even with seasonal declines in LMC Period end loans • 3Q25 period end loans of $63.1 billion, down slightly versus 2Q25 ◦ Loans to mortgage companies (LMC) decreased $132 million from the mid-summer seasonal peak ◦ C&I excluding LMC grew $174 million ◦ CRE balances declined $261 million in line with expectations • Average loan balances increased $236 million from 2Q25 • Period end total loan portfolio line utilization of 43%1 • Loan yield expansion of 14bps to 6.06%, driven by MSLP accretion and higher balances in higher yielding portfolios • Asset sensitive profile reflected in loan composition of 56% variable rate, 13% ARM, and 31% fixed rate3 1Utilization rates exclude loans to mortgage companies. 2Credit card & other was $0.7B in 3Q24 and 4Q24, and $0.6B in 1Q25, 2Q25, and 3Q25. 3Does not include the impact of interest rate hedges. For more detail on the hedges, see slide 17 in the Appendix. $62.4B $62.6B $62.2B $63.3B $63.1B $29.8B $30.0B $30.0B $30.3B $30.5B $14.7B $14.4B $14.1B $13.9B $13.7B $14.0B $14.0B $14.1B $14.4B $14.4B $3.2B $3.5B $3.4B $4.1B $3.9B C&I ex LMC Commercial real estate (CRE) Consumer real estate LMC Credit card & other² 3Q24 4Q24 1Q25 2Q25 3Q25 9

Fee income growth driven by fixed income • 3Q25 adjusted fee income excluding deferred compensation increased $26 million from 2Q25 ◦ Fixed income increased by $15 million driven by average daily revenue improving by 40% to $771k, reflecting improved market conditions ◦ Mortgage banking increased by $6 million driven by a $4.7 million pre-tax gain from a sale of mortgage servicing rights (MSRs) in the quarter ◦ Other noninterest income increased $3 million, in line with normal quarterly fluctuations Adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Fixed Income ADR is based upon Fixed Income trading revenues and excludes other product revenues (e.g. investment advisory, derivatives, loan trading and other service related revenues). $ in millions Adjusted Results 3Q25 Change vs. 3Q25 2Q25 1Q25 4Q24 3Q24 2Q25 3Q24 Fixed income $57 $42 $49 $49 $47 $15 36% $11 23% Mortgage banking $15 $10 $8 $8 $9 $6 59% $6 70% Service charges and fees $57 $55 $52 $53 $59 $2 4% ($1) (2%) Brokerage, trust, and insurance $39 $39 $38 $41 $39 $1 1% $0 —% Card and digital banking fees $19 $19 $18 $19 $19 ($1) (3%) ($1) (4%) Deferred compensation income $8 $8 $(3) $1 $6 $1 10% $2 42% Securities gains/(losses) $0 $0 $0 $0 $1 $0 75% ($1) (81%) Other noninterest income $19 $16 $18 $20 $20 $3 16% ($1) (7%) Total fee income $215 $189 $181 $190 $200 $26 14% $15 7% Fee income ex deferred comp $207 $181 $184 $189 $194 $26 14% $12 6% Fixed income ADR1 $771k $550k $586k $659k $593k $221k 40% $178k 30% 10

Expense growth reflects revenue pickup • 3Q25 adjusted expense excluding deferred compensation increased $45 million versus 2Q25 ◦ Personnel expense excluding deferred compensation increased $9 million ▪ Salaries and benefits increased $3 million, as higher day count and personnel investments were partially offset by lower benefits ▪ Incentives and commissions increased $6 million, driven by higher variable compensation within the fixed income business ◦ Outside services increased by $8 million, primarily reflecting project expenses in technology and risk partially offset by seasonal declines in advertising as campaign costs from the second quarter move to new account promotion payouts ◦ Other noninterest expense increased by $28 million, largely due to a $20 million contribution to the First Horizon Foundation to benefit from tax advantages expiring at the end of the year as well as pick up in new account promotion payouts from recent campaigns $ in millions Adjusted Results 3Q25 Change vs. 3Q25 2Q25 1Q25 4Q24 3Q24 2Q25 3Q24 Salaries and benefits $209 $206 $201 $199 $199 $3 1% $10 5% Incentives and commissions $79 $73 $81 $73 $76 $6 9% $3 4% Deferred compensation expense $8 $7 $(3) $1 $6 $1 22% $2 25% Total personnel expense $296 $286 $279 $274 $281 $10 4% $14 5% Occupancy and equipment1 $80 $79 $78 $76 $73 $1 1% $7 9% Outside services $79 $71 $63 $71 $73 $8 12% $6 8% Amortization of intangible assets $9 $10 $10 $11 $11 ($1) (8%) ($2) (18%) Other noninterest expense $79 $50 $52 $74 $59 $28 56% $20 35% Adjusted total noninterest expense $542 $495 $482 $506 $497 $47 9% $45 9% Expense ex deferred comp $534 $489 $485 $505 $491 $45 9% $43 9% Full-time equivalent associates 7,341 7,255 7,190 7,158 7,186 86 1% 155 2% Adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Occupancy and Equipment expense includes Computer Software Expense. 11

Credit remains a centerpiece of performance Non-performing loans (NPLs)Allowance for credit losses (ACL) Net charge-offs FHN NCO%1 Average NCO% of BKX Index2 $24 $13 $29 $34 $26 0.15% 0.08% 0.19% 0.22% 0.17% 0.57% 0.62% 0.57% 0.53% 3Q24 4Q24 1Q25 2Q25 3Q25 FHN NCOs ACL/ loans ratio is non-GAAP and is reconciled to the GAAP measure in the Appendix. 1Net charge-off % is annualized and as % of average loans. 2Excludes trust and investment banks. $897 $894 $905 $901 $870 1.44% 1.43% 1.45% 1.42% 1.38% ACL ACL/Loans 3Q24 4Q24 1Q25 2Q25 3Q25 $578 $602 $609 $593 $605 0.92% 0.96% 0.98% 0.94% 0.96% NPLs $ NPLs % 3Q24 4Q24 1Q25 2Q25 3Q25 • 3Q25 net charge-offs of $26 million in line with expectations ◦ NCO ratio of 0.17%, down 5bps from 2Q25 ◦ Results include $9 million of recoveries • Provision credit of $5 million in 3Q25 ◦ 3Q25 ACL to loans ratio decreased to 1.38% driven by reductions in criticized and classified graded credits and favorable portfolio mix • NPL ratio of 96bps, up 2bps from 2Q25 12

• CET1 ratio remained 11.0% ◦ Share buybacks increased to $190 million in line with NIAC growth and offsetting loan portfolio shrinkage ◦ Loan portfolio growth remains the priority for capital deployment • TBVPS of $13.94 increased $0.37 versus 2Q25, primarily driven by NIAC performance resulting from strong net interest income and fee income growth in the quarter Strong NIAC supported share buyback increases and TBVPS growth 11.0% 0.37% (0.11)% (0.26)% (0.01)% (0.01)% 11.0% 2Q25 Actual Adjusted NIAC Common Dividend Share Buybacks Change in Loan Balances & Unfunded Commitments Notable Items & Other¹ 3Q25 Estimate Capital Ratios Common Equity Tier 1 (CET1) Tangible Book Value per Share (TBVPS) 14.2% 14.2% 14.1% 14.0% 13.8% CET1 ratio Tier 1 capital ratio Total capital ratio 3Q24 4Q24 1Q25 2Q25 3Q25 $13.57 $0.53 $(0.15) $0.12 $(0.14) $0.01 $13.94 2Q25 Actual Adjusted NIAC Impact² Common Dividends Marks on AFS & Hedges Share Buybacks Notable Items & Other³ 3Q25 Actual TBVPS and adjusted financial measures are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Other category includes other capital changes such as DTA, intangibles, and Options Exercised and other RWA changes. 2Net of change in intangibles. 3Other includes equity compensation. 11.2% 11.2% 10.9% 11.0% 11.0% 12.0%11.9%12.2%12.2% 11.9% 13

Maintaining existing 2025 guidance Earnings Drivers FY24 Adjusted Baseline FY25 vs FY24 Expectations Comments Adjusted Revenue (excluding deferred comp) $3,279 million Flat - Up 4% Revenue expectations remain in line with guidance to finish the year. Adjusted Expense (excluding deferred comp) $1,978 million Flat - Up 2% No change to expense expectations; fixed income ADR performance related commissions is a key driver to final expense levels. Net Charge-Offs 0.18% 0.15% - 0.25% Credit performance remains in line with expectations. Tax Rate 21.4% 21% - 23% Timing of discrete items impacts quarterly rate. CET1 Ratio 11.2% 10.5% - 11.0% Expect to continue making progress on CET1 levels in line with near term targets. Adjusted financial measures, including measures excluding deferred compensation and fully taxable equivalents, are non-GAAP and are reconciled to GAAP measures in the Appendix. Net interest income and margin are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. Variability in deferred compensation may impact growth rates in noninterest income and noninterest expense but should have an offsetting and immaterial impact on pretax income. 14

Keys to achieving a sustained intermediate term 15%+ adjusted ROTCE Strategic capital management to opportunistically deploy excess capital and lower CET1 to 10% - 10.5% range Highly attractive geographic footprint in growth markets with opportunities to drive loan and deposit growth Diversified business model with balance between asset sensitivity and counter-cyclical businesses provides opportunity to deliver outperformance through a variety of economic cycles Disciplined execution of strategy and continuous focus on efficiency and profitability — includes $100 million+ in revenue-driven PPNR opportunities in our existing book of business Maintaining prudent credit culture that minimizes losses and maximizes long-term returns 15PPNR and ROTCE are non-GAAP measures.

Appendix

Actively managing liquidity and interest rate sensitivity Variable 56% Fixed 31% ARMs 13% $63.1B Floors 60% Swaps 40% $5.0B Loan repricing profile Balance sheet hedges Modest interest rate sensitivity1 +100bps +2.0% -100bps 2.9% • Modestly asset-sensitive profile driven by 56% variable rate loan mix • Within the ARM portfolio, only 7% of loans will be in their variable period within the next year • Floors with strike prices between 1.25% and 2.5% and maturities ranging from late 2027 to early 2029 • Receive fixed swaps with fixed rates between 2.6% and 3.0% and maturities in 2027 and 2029 1Estimate as of 9/30/25. change in the next 12 months’ NII for an instantaneous, parallel shock on a static balance sheet Insured 58% Neither 35%7% $65.5B 65% of deposits insured or collateralized Collateralized • Commercial deposits of $37 billion or 57% and consumer deposits of $28 billion or 43% • Attractive lower-cost deposit base with 24% comprised of non-interest bearing products • Contingency funding plan equates to ~142% of uninsured or uncollateralized deposits 17

Track record of strong results supported by stable, diversified business mix • Our diversified business model with a highly attractive geographic footprint provides opportunity to deliver strong performance through a variety of economic cycles • The counter-cyclical businesses (fixed income, loans to mortgage companies, and mortgage) provide a counterbalance to the asset sensitive balance sheet during periods of declining interest rates Adjusted pre-provision net revenue (PPNR) is a non-GAAP measure and is reconciled to pre-tax income (GAAP) in the Appendix. Numbers may not total due to rounding. 12019 and 1H20 are standalone FHN, as the IBKC merger-of-equals did not occur until July 1, 2020. 2Counter-cyclical PPNR includes direct and allocated fees and expenses, as well as net interest income net of funds transfer pricing. $754 $1,084 $1,222 $1,374 $1,370 $1,299 $1,367 All Other Adjusted PPNR Counter-Cyclicals² Avg Fed Funds Effective Rate 2019¹ (pre-IBKC) 2020¹ (IBKC in 2H20) 2021 2022 2023 2024 2025 YTD Annualized $— $200 $400 $600 $800 $1,000 $1,200 $1,400 0% 1% 2% 3% 4% 5% 6% 7% 8% $158 / 21% $406 / 37% $347 / 28% $81 / 6% $26 / 2% $108 / 8% $596 / 79% $678 / 63% $875 / 72% $1,266 / 92% $1,344 / 98% $1,218 / 94% Adjusted PPNR in millions Average Fed Funds Effective $110 / 8% 1,257 / 92% 18

FHN Financial’s strong full-cycle returns are counter-cyclical to bank franchise 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 20 25 —% 2.00% 4.00% 6.00% $0.0 $0.5 $1.0 $1.5 $2.0 Lower Revenue Market Factor Higher Revenue 2024 Environment Current Environment Up Rate Direction Down Decline in short-term rates Decline in short-term rates Extreme (low/high) Market Volatility Moderate MOVE index elevated Improved volatility environment Flat/Inverted Yield Curve Shape Steep Slightly inverted Unfavorable rate curve Tight Corporate & Mortgage Spreads Wide Wide Tight Lower Depository Liquidity Greater Constrained, but improving Neutral impact • FHN Financial provides fixed income sales & trading, investment advisory, interest rate derivatives and other services to financial institutions, municipalities and other institutional investors across the United States and internationally • In addition to trading revenues, FHN Financial generates ~$40 million annually of fee income from other products, including investment advisory, derivatives, loan trading and other service related revenue • 4,000+ active institutional clients • Clients include approximately one third of all US banks and 50% of banks with portfolios over $100 million in size FOMC easing during GFC FOMC ZIRP Policy Normalizing FOMC Policy FOMC easing during pandemic FOMC tightening to fight inflation Fed Funds Average ADR in millions $1.6 $1.2 $0.7 $1.3 $0.5 Early stage of FOMC easing $0.6 19

Multi-family 55% Office 3% All other CRE 42% Other 14 Industries 24% Real Estate & Leasing 12% Mortgage Warehouse 11% Finance & Insurance 11% Health Care & Social Assistance 8% Wholesale Trade 7% Manufacturing 7% Accommodation & Food Service 7% Retail Trade 5% Transportation & Warehousing 5% Energy 3% Total loan portfolio C&I 54% CRE 22% Consumer 24% Industry & product diversification: total loan portfolio RE installment loans 82% HELOC 14% Credit card & other 4% Total loans $63.1B Consumer $15.0B C&I $34.4B Consumer by product CRE $13.7B • C&I ◦ No more than 12% C&I exposure to any industry ◦ Period end C&I portfolio line utilization of 44%1 • CRE ◦ No significant upcoming repricing events, as ~71% of loans are floating and ~$3B on average maturing annually through 2027 ◦ Granular portfolio with only 10 loans with commitments above $50 million ◦ Medical office comprises 51% of outstanding office balances • Consumer ◦ Consumer portfolio focused on real estate, with negligible exposure to auto or consumer credit card Numbers may not total to 100% due to rounding. 1Utilization rates exclude loans to mortgage companies. C&I by industry 20 Land 2% Construction 9% Other CRE 3% Hospitality 9% Industrial 15% Retail 15% Office 19% Multi-Family 28% CRE by property type $ .

Geographic diversification: commercial loan portfolio 28% $34.4B 8% FL 29% TX 20% GA 12% NC 9% TN 8% LA 4% Other SE1 7% 7% 16% 12% SC 3% Total C&I Multi- family Traditional office Other CRE Total CRE $4.6B $1.3B $7.8B $13.7B C&I CRE C&I exposure to markets outside the southeast primarily driven by specialty businesses with no state accounting for more than 6% $48.1B commercial loan portfolio with 77% in attractive southeastern footprint All loan balances are period end unless otherwise noted. Numbers may not total 100% due to rounding. 1Other southeastern (SE) includes AR, AL, MS, and VA. Map excludes $11.1B of loans outside of the southeastern footprint driven by specialty business lines Southeastern (SE) footprint All other 21 NC 20% FL 16% TN 14% GA 13% TX 12% LA 8% SC 4% Other SE1 6% FL 26% NC 14% LA 10% TN 8% TX 9% GA 6% SC 4% Other SE1 7% FL 26% TX 13% NC 13% GA 9% TN 8% LA 8% SC 4% Other SE1 7% TN 20% FL 12% TX 11% NC 6% LA 6% GA 4% SC 2% Other SE1 11%

Investment portfolio prudently managed to support liquidity and IRR 3Q25 investment portfolio composition2 Steady principal cash flows3 Investment portfolio $0.3B $0.3B $0.3B $0.4B 4Q25 1Q26 2Q26 3Q26 Agency MBS 40% Agency CMBS 27% Agency CMO 16% U.S. Agencies & Treasury 14% States & Municipalities 4% $9.4B $9.3B $9.2B $9.3B $9.3B 2.58% 2.69% 3.02% 3.06% 3.09% Average AFS Securities Average HTM Securities Average Yield 3Q24 4Q24 1Q25 2Q25 3Q25 • 3Q25 investment portfolio represents ~11% of total assets ◦ Moderate total portfolio effective duration of 4.2 years ◦ Low reliance on the HTM designation at ~13% of total portfolio ◦ 96% U.S. government or agency-backed by GSEs • 3Q25 total unrealized losses on the AFS and HTM portfolios of $0.9B, down slightly from 2Q25 levels 1Unpledged securities and securities pledged in excess of collateral requirements divided by total securities. 2Calculated based on period end market values. 3Estimated as of 9/30/2025; includes maturities and projected calls. 3Q24 4Q24 1Q25 2Q25 3Q25 % of total assets 11% 11% 11% 11% 11% Pre-tax unrealized losses ($1.0B) ($1.2B) ($1.0B) ($1.0B) ($0.9B) Effective duration (years) 4.6 4.8 4.5 4.4 4.2 Excess collateral ratio1 38% 29% 36% 30% 34% 22

Notable items Numbers may not total due to rounding. * 4Q24 and 3Q24 include $3 million and $2 million of restructuring expenses; 3Q25, 1Q25, and 3Q24 include $10 million, $5 million, and $15 million of Visa derivative valuation expenses ** 3Q25 includes $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock. $ in millions, except EPS 3Q25 2Q25 1Q25 4Q24 3Q24 Summary of Notable Items: Loss on AFS portfolio restructuring $— $— $— $(91) $— Deferred compensation adjustment $— $4 $— $— $— FDIC special assessment (other noninterest expense) $2 $1 $(1) $1 $2 Other notable expenses * $(10) $— $(5) $(3) $(17) Total notable items (pre-tax) $(8) $4 $(6) $(94) $(14) Tax-related notable items $— $— $— $— $— Preferred Stock Dividend ** $(3) $— $— $— $— 23

Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. (a) Included in total equity on the Consolidated Balance Sheet. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding. $s in millions, except per share data Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Tangible Common Equity (non-GAAP) (A) Total equity (GAAP) $9,244 $9,257 $9,044 $9,111 $9,316 Less: Noncontrolling interest (a) 295 295 295 295 295 Less: Preferred stock (a) 349 426 426 426 426 (B) Total common equity $8,600 $8,536 $8,322 $8,389 $8,595 Less: Intangible assets (GAAP) (b) 1,624 1,633 1,643 1,653 1,663 (C) Tangible common equity (non-GAAP) $6,976 $6,903 $6,680 $6,737 $6,931 Tangible Assets (non-GAAP) (D) Total assets (GAAP) $83,192 $82,084 $81,491 $82,152 $82,635 Less: Intangible assets (GAAP) (b) 1,624 1,633 1,643 1,653 1,663 (E) Tangible assets (non-GAAP) $81,568 $80,451 $79,849 $80,499 $80,971 Period end Shares Outstanding (F) Period end shares outstanding 500 509 507 524 532 Ratios (A)/(D) Total equity to total assets (GAAP) 11.11% 11.28% 11.10% 11.09% 11.27% (C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (non-GAAP) 8.55% 8.58% 8.37% 8.37% 8.56% (B)/(F) Book value per common share (GAAP) $17.19 $16.78 $16.40 $16.00 $16.15 (C)/(F) Tangible book value per common share (non-GAAP) $13.94 $13.57 $13.17 $12.85 $13.02 24

$s in millions, except per share data Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Adjusted EPS Net income available to common shareholders ("NIAC") (GAAP) a $254 $233 $213 $158 $213 Plus Total notable items (after-tax) (non-GAAP) (a) 9 (3) 4 71 11 Adjusted net income available to common shareholders (non-GAAP) b $263 $229 $217 $228 $224 Diluted Shares (GAAP) c 510 514 523 534 538 EPS (GAAP) a/c $0.50 $0.45 $0.41 $0.29 $0.40 Adjusted EPS (non-GAAP) b/c $0.51 $0.45 $0.42 $0.43 $0.42 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $266 $244 $222 $170 $223 Plus Relevant notable items (after-tax) (Non-GAAP) (a) $6 $(3) $4 $71 $11 Adjusted NI (Non-GAAP) $272 $241 $227 $240 $234 NI (annualized) (GAAP) d $1,055 $980 $901 $675 $889 Adjusted NI (annualized) (Non-GAAP) e $1,079 $967 $919 $956 $932 Average assets (GAAP) f $82,049 $81,958 $80,965 $81,950 $82,366 ROA (GAAP) d/f 1.29% 1.20% 1.11% 0.82% 1.08% Adjusted ROA (Non-GAAP) e/f 1.32% 1.18% 1.14% 1.17% 1.13% Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE Net income available to common shareholders ("NIAC") (annualized) (GAAP) g $1,007 $933 $864 $627 $849 Adjusted Net income available to common shareholders (annualized) (Non-GAAP) h $1,042 $919 $882 $907 $892 Average Common Equity (GAAP) i $8,579 $8,376 $8,389 $8,494 $8,407 Intangible Assets (GAAP) (b) $1,628 $1,638 $1,648 $1,658 $1,669 Average Tangible Common Equity (Non-GAAP) j $6,950 $6,738 $6,742 $6,836 $6,738 ROCE (GAAP) g/i 11.74% 11.14% 10.30% 7.38% 10.10% ROTCE (Non-GAAP) g/j 14.49% 13.85% 12.81% 9.17% 12.60% Adjusted ROTCE (Non-GAAP) h/j 15.00% 13.65% 13.08% 13.27% 13.24% (a) Adjusted for notable items as detailed on page 23. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding. 25 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below.

$s in millions Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) k $215 $189 $181 $99 $200 Plus notable items (pretax) (GAAP) (a) $— $— $— $91 $— Adjusted noninterest income (Non-GAAP) l $215 $189 $181 $190 $200 Revenue (GAAP) m $889 $830 $812 $729 $828 Taxable-equivalent adjustment $3 $4 $3 $4 $4 Revenue- Taxable-equivalent (Non-GAAP) $893 $833 $816 $732 $832 Plus notable items (pretax) (GAAP) (a) $— $— $— $91 $— Adjusted revenue (Non-GAAP) n $893 $833 $816 $824 $832 Securities gains/(losses) (GAAP) o $— $— $— $(91) $1 Noninterest income as a % of total revenue (GAAP) (k-o)/ (m-o) 24.16% 22.73% 22.29% 23.20% 24.06% Adjusted noninterest income as a % of total revenue (Non-GAAP) l/n 24.07% 22.63% 22.20% 23.10% 23.95% Adjusted Efficiency Ratio Noninterest expense (GAAP) p $551 $491 $488 $508 $511 Plus notable items (pretax) (GAAP) (a) $(8) $4 $(6) $(2) $(14) Adjusted noninterest expense (Non-GAAP) q $542 $495 $482 $506 $497 Revenue (GAAP) r $889 $830 $812 $729 $828 Taxable-equivalent adjustment 3 4 3 4 4 Revenue- Taxable-equivalent (Non-GAAP) 893 833 816 732 832 Plus notable items (pretax) (GAAP) (a) — — — 91 — Adjusted revenue (Non-GAAP) s $893 $833 $816 $824 $832 Securities gains/(losses) (GAAP) t $— $— $— $(91) $1 Efficiency ratio (GAAP) p/ (r-t) 61.92% 59.20% 60.06% 61.98% 61.89% Adjusted efficiency ratio (Non-GAAP) q/s 60.76% 59.47% 59.09% 61.43% 59.86% (a) Adjusted for notable items as detailed on page 23. Numbers may not total due to rounding. 26 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below.

$s in millions Period end Average 3Q25 2Q25 3Q25 vs. 2Q25 3Q25 2Q25 3Q25 vs. 2Q25 Loans excluding LMC Total Loans (GAAP) $63,058 $63,260 $(202) —% $62,787 $62,551 $236 —% LMC (GAAP) 3,926 4,058 (132) (3)% 3,628 3,533 96 3% Total Loans excl. LMC (non-GAAP) 59,131 59,201 (70) —% 59,159 59,019 140 —% Total Consumer (GAAP) 14,982 14,965 17 —% 15,004 14,847 157 1% Total Commercial excl. LMC (non-GAAP) 44,149 44,237 (87) —% 44,156 44,172 (16) —% Total CRE (GAAP) 13,674 13,936 (261) (2)% 13,772 14,070 (298) (2)% Total C&I excl. LMC (non-GAAP) $30,475 $30,301 $174 1% $30,383 $30,102 $281 1% $s in millions Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases Allowance for loan and lease losses (GAAP) A $777 $814 $822 $815 $823 Reserve for unfunded commitments (GAAP) 93 87 83 79 75 Allowance for credit losses (Non-GAAP) B $870 $901 $905 $894 $897 Loans and leases (GAAP) C $63,058 $63,260 $62,215 $62,565 $62,445 Nonaccrual loans and leases (GAAP) D $605 $593 $609 $602 $578 Allowance for loans and lease losses to loans and leases (GAAP) A/C 1.23% 1.29% 1.32% 1.30% 1.32% Allowance for credit losses to loans and leases (Non-GAAP) B/C 1.38% 1.42% 1.45% 1.43% 1.44% Allowance for loans and lease losses to nonperforming loans and leases (GAAP) A/D 128% 137% 135% 136% 142% Allowance for credit losses to nonperforming loans and leases (Non-GAAP) B/D 144% 152% 148% 149% 155% Numbers may not total due to rounding. 27 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below.

(a) Adjusted for notable items as detailed on page 23. Numbers may not total due to rounding. $s in millions Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Adjusted noninterest income excluding deferred compensation income Noninterest income (GAAP) $215 $189 $181 $99 $200 Plus notable items (pretax) (GAAP) (a) — — — 91 — Adjusted noninterest income (non-GAAP) $215 $189 $181 $190 $200 Less deferred compensation income (GAAP) 8 8 (3) 1 6 Adjusted noninterest income excluding deferred compensation income (non-GAAP) $207 $181 $184 $189 $194 Adjusted revenue excluding deferred compensation income Revenue (GAAP) $889 $830 $812 $729 $828 Taxable-equivalent adjustment $3 $4 $3 $4 $4 Revenue- Taxable-equivalent (non-GAAP) $893 $833 $816 $732 $832 Plus notable items (pretax) (GAAP) (a) $— $— $— $91 $— Adjusted revenue (non-GAAP) $893 $833 $816 $824 $832 Less deferred compensation income (GAAP) 8 8 (3) 1 6 Adjusted revenue excluding deferred compensation income (non-GAAP) $884 $826 $818 $823 $826 Adjusted noninterest expense excluding deferred compensation expense Noninterest expense (GAAP) $551 $491 $488 $508 $511 Plus notable items (pretax) (GAAP) (a) $(8) $4 $(6) $(2) $(14) Adjusted noninterest expense (non-GAAP) $542 $495 $482 $506 $497 Less adjusted deferred compensation expense (GAAP) 8 7 (3) 1 6 Adjusted noninterest expense excluding deferred compensation expense (non-GAAP) $534 $489 $485 $505 $491 Adjusted personnel expense excluding deferred compensation expense Personnel expense (GAAP) $296 $282 $279 $276 $282 Plus notable items (pretax) (GAAP) (a) $— $4 $— $(2) $(1) Adjusted personnel expense (non-GAAP) $296 $286 $279 $274 $281 Less adjusted deferred compensation expense (GAAP) 8 7 (3) 1 6 Adjusted personnel expense excluding deferred compensation expense (non-GAAP) $288 $279 $282 $272 $275 28 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below.

(a) Adjusted for notable items as detailed on page 23. Numbers may not total due to rounding. Notable items can be found in the appendices of earnings releases in previously furnished 8-K filings related to the periods shown. $s in millions Quarterly, Unaudited 3Q25 2Q25 1Q25 4Q24 3Q24 Adjusted Pre-provision Net Revenue (PPNR) Pre-tax income (GAAP) $ 344 $ 309 $ 285 $ 210 $ 281 Plus notable items (pretax) (GAAP) (a) 8 (4) 6 94 14 Adjusted Pre-tax income (non-GAAP) $ 352 $ 304 $ 290 $ 304 $ 296 Plus provision expense (GAAP) (5) 30 40 10 35 Adjusted Pre-provision net revenue (PPNR) (non-GAAP) $ 347 $ 334 $ 330 $ 314 $ 331 Taxable-equivalent adjustment 3 4 3 4 4 Pre-provision net revenue-Taxable-equivalent (non-GAAP) $ 351 $ 338 $ 334 $ 318 $ 335 $s in millions 2024 2025 YTD 2019 2020 2021 2022 2023 Annualized Adjusted Pre-provision Net Revenue (PPNR) Pre-tax Income (GAAP) $586 $933 $1,284 $1,159 $1,128 $1,005 $1,253 Provision Expense (GAAP) 45 503 (310) 95 260 150 87 Total PPNR (non-GAAP) $631 $1,436 $974 $1,254 $1,388 $1,155 $1,340 Taxable-equivalent adjustment (9) (11) (12) (13) (16) (15) (14) Notable Items (GAAP) (a) (114) 363 (235) (107) 33 (129) (13) Adjusted PPNR (non-GAAP) $754 $1,084 $1,222 $1,374 $1,370 $1,299 $1,367 All Other adjusted PPNR (non-GAAP) $596 $678 $875 $1,266 $1,344 $1,218 $1,257 Counter-cyclical Adjusted PPNR (non-GAAP) $158 $406 $347 $108 $26 $81 $110 29 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below.