Document

First Horizon Corporation Delivers Strong Second Quarter 2026 Results

with Net Income Available to Common Shareholders of $260 Million, up 12% year-over-year

and EPS of $0.54, up $0.09 from Second Quarter 2025

MEMPHIS, TN (July 15, 2026) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported second quarter net income available to common shareholders ("NIAC") of $260 million or earnings per share of $0.54, compared with first quarter 2026 NIAC of $257 million or earnings per share of $0.53 and second quarter 2025 NIAC of $233 million or earnings per share of $0.45. Return on common equity and return on tangible common equity grew to 12.3% and 15.2%, respectively, in the quarter.*

"Our results represent another quarter of disciplined execution," said Chairman, President and CEO Bryan Jordan. "This performance is the result of our focus on developing client relationships and prioritizing and delivering outstanding service.”

Jordan continued, "Compared to the first half of 2025, net income available to common shareholders grew 16% in the first half of 2026. This reflects strength across multiple aspects of our business and includes 3% year-over-year loan growth."

Notable Items


Notable Items
Quarterly, Unaudited ($ in millions, except per share data)	2Q26		1Q26		2Q25
Summary of Notable Items:






Deferred compensation adjustment	$	—	$	—	$	4
FDIC special assessment (other noninterest expense)	—		—		1
Other notable expenses	(5)		—		—
Total notable items (pre-tax)	$	(5)	$	—	$	4
Tax on notable items before preferred stock dividends	$	1	$	—	$	(1)
Preferred Stock Dividend **	$	3	$	—	$	—
Total notable items (after-tax)	$	(1)	$	—	$	3

Numbers may not total due to rounding.

Second quarter pre-tax notable items included a $5 million impact related to Visa derivative valuation expenses. Second quarter after-tax notable items include $3 million of deemed dividend impacts related to the redemption of preferred stock.

* "Adjusted" results, 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. NII, total revenue, NIM, and PPNR are presented on a fully taxable equivalent ("FTE") basis. Capital ratios are preliminary. 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.

Second Quarter 2026 versus First Quarter 2026

Net interest income

Net interest income (FTE) increased $9 million to $679 million and net interest margin of 3.49% decreased 3 basis points. The NII increase was primarily driven by loan portfolio growth. The NIM decrease was driven by higher deposit costs associated with increased brokered deposits.

Noninterest income

Noninterest income increased $16 million to $211 million, driven by increases of $3 million in brokerage, trust, and insurance, $18 million in deferred compensation income, and $2 million in other noninterest income, partially offset by a $7 million decrease in fixed income.

Noninterest expense

Noninterest expense of $531 million increased $26 million from the prior quarter. This includes a $10 million increase in outside services, a $4 million increase in salaries and benefits expenses, and a $14 million increase in deferred compensation expenses.

Loans and leases

Average loan and lease balances of $64.7 billion increased $1.5 billion from the prior quarter, while period-end balances were $65.3 billion, up $953 million from first quarter 2026. Loans to mortgage companies (LMC) increased by $118 million at period-end, and other C&I balances increased by $710 million. Loan yields of 5.67% decreased 1 basis point.

Deposits

Average deposits of $66.8 billion increased $572 million from first quarter 2026. Period-end deposits of $68.1 billion increased $1.6 billion, driven by a $1.5 billion increase in interest bearing deposits. Interest-bearing deposit cost of 2.33% increased 5 basis points from the prior quarter, with a spot rate of approximately 2.43% at the end of the quarter.

Asset quality

Provision for credit losses expense was $15 million, consistent with first quarter 2026. Net charge-offs were $33 million or 20 basis points, up from $29 million or 18 basis points in the prior quarter. Nonperforming loans of $531 million decreased $75 million. The ACL to loans ratio decreased from 1.28% in first quarter 2026 to 1.24%, reflecting continued positive loan resolutions and lower NPLs.

Capital

CET1 ratio was 10.5%, consistent with first quarter 2026. Capital was deployed into loan growth as well as share repurchases, which totaled $100 million at an average price of $24.52 per share including commissions.

Income taxes

The second quarter 2026 effective and adjusted tax rate was 19.5%, compared to 22.2% in the previous quarter.


SUMMARY RESULTS
Quarterly, Unaudited

										2Q26 Change vs.
($ in millions, except per share and balance sheet data)	2Q26			1Q26			2Q25			1Q26						2Q25
										$/bp				%		$/bp			%
Income Statement
Interest income - taxable equivalent1	$	1,033		$	1,008		$	1,047		$	26			3	%	$	(14)		(1)	%
Interest expense- taxable equivalent1	354			337			403			17				5		(49)			(12)
Net interest income- taxable equivalent	679			670			645			9				1		35			5
Less: Taxable-equivalent adjustment	3			3			4			—				3		—			(13)
Net interest income	676			667			641			9				1		35			5
Noninterest income	211			195			189			16				8		22			12
Total revenue	887			862			830			25				3		57			7
Noninterest expense	531			505			491			26				5		40			8
Pre-provision net revenue3	356			357			339			(1)				—		17			5
Provision for credit losses	15			15			30			—				—		(15)			(50)
Income before income taxes	341			342			309			(1)				—		32			10
Provision for income taxes	66			76			64			(10)				(13)		2			4
Net income	274			266			244			8				3		30			12
Net income attributable to noncontrolling interest	4			3			4			—				4		—			(10)
Net income attributable to controlling interest	271			263			240			8				3		30			13
Preferred stock dividends	10			5			8			5				103		3			34
Net income available to common shareholders	$	260		$	257		$	233		$	3			1	%	$	28		12	%

Adjusted net income4	$	278		$	266		$	241		$	12			5	%	$	37		16	%
Adjusted net income available to common shareholders4	$	262		$	257		$	229		$	5			2	%	$	33		14	%
Common stock information
EPS	$	0.54		$	0.53		$	0.45		$	0.01			2	%	$	0.09		20	%
Adjusted EPS4	$	0.54		$	0.53		$	0.45		$	0.01			2	%	$	0.09		20	%


Diluted shares8	480			487			514			(7)				(1)	%	(34)			(7)	%
Key performance metrics
Net interest margin6	3.49		%	3.52		%	3.40		%	(3)		bp				9		bp

Efficiency ratio	59.88			58.54			59.20			134		bp				68		bp
Adjusted efficiency ratio4	59.11			58.34			59.47			77		bp				(36)		bp
Effective income tax rate	19.47			22.21			20.78			(274)		bp				(131)		bp
Return on average assets	1.31			1.30			1.20			1		bp				11		bp
Adjusted return on average assets4	1.33			1.30			1.18			3		bp				15		bp
Return on average common equity (“ROCE")	12.3			12.3			11.1			7		bp				119		bp

Return on average tangible common equity (“ROTCE”)4	15.2			15.1			13.8			9		bp				136		bp
Adjusted ROTCE4	15.3			15.1			13.6			17		bp				164		bp
Noninterest income as a % of total revenue	23.73			22.63			22.73			110		bp				100		bp
Adjusted noninterest income as a % of total revenue4	23.65		%	22.55		%	22.63		%	110		bp				102		bp
Balance Sheet (billions)
Average loans	$	64.7		$	63.2		$	62.6		$	1.5			2	%	$	2.1		3	%
Average deposits	66.8			66.2			64.7			0.6				1		2.0			3
Average assets	84.1			83.0			82.0			1.1				1		2.1			3
Average common equity	$	8.5		$	8.5		$	8.4		$	—			(1)	%	$	0.1		1	%
Asset Quality Highlights
Allowance for loan and lease losses to loans and leases	1.09		%	1.13		%	1.29		%	(4)		bp	—			(20)		bp

Allowance for credit losses to loans and leases4	1.24		%	1.28		%	1.42		%	(4)		bp				(18)		bp

Nonperforming loans and leases ratio	0.81		%	0.94		%	0.94		%	(13)		bp				(13)		bp
Net charge-off ratio	0.20		%	0.18		%	0.22		%	2		bp				(2)		bp
Net charge-offs	$	33		$	29		$	34		$	4			14	%	$	(1)		(3)	%
Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	10.5		%	10.5		%	11.0		%	(7)		bp				(53)		bp
Tier 1	11.8			11.9			12.0			(17)		bp				(23)		bp
Total Capital	13.4			13.7			14.0			(36)		bp				(56)		bp
Tier 1 leverage	10.5		%	10.6		%	10.6		%	(12)		bp				(5)		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, or 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 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 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 July 15, 2026, by dialing 1-833-461-5787 (if calling from the U.S.) and entering access code 702071053. 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 webcast will be available on our website on July 15 and will be archived on the site for one year.

First Horizon Corporation (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, 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

																2Q26 Change vs.
($ in millions, except per share data)	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26				2Q25
																$		%		$		%
Interest income - taxable equivalent1	$	1,033		$	1,008		$	1,054		$	1,081		$	1,047		$	26	3	%	$	(14)	(1)	%
Interest expense - taxable equivalent1	354			337			375			403			403			17		5		(49)		(12)
Net interest income - taxable equivalent	679			670			679			678			645			9		1		35		5
Less: Taxable - equivalent adjustment	3			3			3			3			4			—		3		—		(13)
Net interest income	676			667			676			674			641			9		1		35		5
Noninterest income:
Fixed income	46			53			57			57			42			(7)		(14)		4		8
Mortgage banking	9			9			10			15			10			—		2		—		(3)
Brokerage, trust, and insurance	45			43			41			39			39			3		7		7		17
Service charges and fees	59			58			64			57			55			—		—		4		6
Card and digital banking fees	18			18			18			19			19			—		(2)		(1)		(6)
Deferred compensation income9	15			(3)			3			8			8			18		NM		7		97

Securities gains/(losses)	—			(1)			—			—			—			1		141		—		72
Other noninterest income	18			16			18			19			16			2		12		2		14
Total noninterest income	211			195			212			215			189			16		8		22		12
Total revenue	887			862			888			889			830			25		3		57		7
Noninterest expense:
Personnel expense:
Salaries and benefits	215			211			213			209			206			4		2		9		4
Incentives and commissions	76			79			87			79			73			(3)		(4)		3		5
Deferred compensation expense9	13			(2)			3			8			3			14		NM		10		NM
Total personnel expense	304			289			303			296			282			16		5		22		8
Occupancy and equipment2	86			84			83			80			79			2		3		7		9
Outside services	79			69			95			79			71			10		15		9		12
Amortization of intangible assets	8			8			9			9			10			—		—		(2)		(16)
Other noninterest expense	53			55			55			87			50			(3)		(5)		3		6
Total noninterest expense	531			505			545			551			491			26		5		40		8
Pre-provision net revenue3	356			357			343			339			339			(1)		—		17		5
Provision for credit losses	15			15			—			(5)			30			—		—		(15)		(50)
Income before income taxes	341			342			343			344			309			(1)		—		32		10
Provision for income taxes	66			76			78			78			64			(10)		(13)		2		4
Net income	274			266			266			266			244			8		3		30		12
Net income attributable to noncontrolling interest	4			3			4			4			4			—		4		—		(10)
Net income attributable to controlling interest	271			263			262			262			240			8		3		30		13
Preferred stock dividends	10			5			5			8			8			5		103		3		34
Net income available to common shareholders	$	260		$	257		$	257		$	254		$	233		$	3	1	%	$	28	12	%
Common Share Data
EPS	$	0.55		$	0.54		$	0.52		$	0.50		$	0.46		$	0.01	2	%	$	0.09	20	%
Basic shares	475			480			491			505			508			(5)		(1)		(33)		(7)
Diluted EPS	$	0.54		$	0.53		$	0.52		$	0.50		$	0.45		$	0.01	2		$	0.09	20
Diluted shares8	480			487			496			510			514			(7)		(1)	%	(34)		(7)	%

Effective tax rate	19.5		%	22.2		%	22.6		%	22.7		%	20.8		%

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


																2Q26 Change vs.
($ in millions, except per share data)	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26				2Q25
																$		%		$		%


Net interest income (FTE)1	$	679		$	670		$	679		$	678		$	645		$	9	1	%	$	35	5	%
Adjusted noninterest income:
Fixed income	46			53			57			57			42			(7)		(14)		4		8
Mortgage banking	9			9			10			15			10			—		2		—		(3)
Brokerage, trust, and insurance	45			43			41			39			39			3		7		7		17
Service charges and fees	59			58			64			57			55			—		—		4		6
Card and digital banking fees	18			18			18			19			19			—		(2)		(1)		(6)
Deferred compensation income9	15			(3)			3			8			8			18		NM		7		97

Adjusted securities gains/(losses)	—			(1)			—			—			—			1		141		—		72
Adjusted other noninterest income	18			16			18			19			16			2		12		2		14
Adjusted total noninterest income	$	211		$	195		$	212		$	215		$	189		$	16	8	%	$	22	12	%
Total revenue (FTE)1	$	890		$	865		$	892		$	893		$	833		$	25	3	%	$	57	7	%

Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits	$	215		$	211		$	213		$	209		$	206		$	4	2	%	$	9	4	%
Adjusted Incentives and commissions	76			79			87			79			73			(3)		(4)		3		5
Deferred compensation expense9	13			(2)			3			8			7			14		NM		6		98
Adjusted total personnel expense	304			289			303			296			286			16		5		19		7
Adjusted occupancy and equipment2	86			84			83			80			79			2		3		7		9
Adjusted outside services	79			69			95			79			71			10		15		9		12
Amortization of intangible assets	8			8			9			9			10			—		—		(2)		(16)
Adjusted other noninterest expense	48			55			52			79			50			(8)		(14)		(3)		(6)
Adjusted total noninterest expense	$	526		$	505		$	541		$	542		$	495		$	21	4	%	$	30	6	%

Adjusted pre-provision net revenue4	$	364		$	360		$	350		$	351		$	338		$	4	1	%	$	26	8	%

Provision for credit losses	$	15		$	15		$	—		$	(5)		$	30		$	—	—	%	$	(15)	(50)	%







Adjusted net income available to common shareholders	$	262		$	257		$	259		$	263		$	229		$	5	2	%	$	33	14	%

Adjusted Common Share Data


Adjusted diluted EPS	$	0.54		$	0.53		$	0.52		$	0.51		$	0.45		$	0.01	2	%	$	0.09	20	%
Diluted shares8	480			487			496			510			514			(7)		(1)	%	(34)		(7)	%

Adjusted effective tax rate	19.5		%	22.2		%	22.7		%	22.7		%	20.8		%
Adjusted ROTCE4	15.3		%	15.1		%	15.0		%	15.0		%	13.6		%
Adjusted efficiency ratio4	59.1		%	58.3		%	60.7		%	60.8		%	59.5		%

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)	2Q26		1Q26		4Q25		3Q25		2Q25
Summary of Notable Items:






Deferred compensation adjustment	$	—	$	—	$	—	$	—	$	4
FDIC special assessment (other noninterest expense)	—		—		7		2		1
Other notable expenses *	(5)		—		(10)		(10)		—
Total notable items (pre-tax)	$	(5)	$	—	$	(3)	$	(8)	$	4
Tax-related notable items	$	—	$	—	$	—	$	—	$	—
Preferred Stock Dividend **	$	3	$	—	$	—	$	(3)	$	—

Numbers may not total due to rounding.

* 2Q26 includes $5 million of Visa derivative valuation expenses and 4Q25 and 3Q25 each include $10 million.

** 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock.


IMPACT OF NOTABLE ITEMS:
Quarterly, Unaudited



($ in millions, except per share data)	2Q26		1Q26		4Q25		3Q25		2Q25
Impacts of Notable Items:
















Noninterest expense:
Personnel expenses:


Deferred compensation expense	$	—	$	—	$	—	$	—	$	4
Total personnel expenses	—		—		—		—		4

Outside services	—		—		—		—		—

Other noninterest expense	(5)		—		(3)		(8)		1
Total noninterest expense	$	(5)	$	—	$	(3)	$	(8)	$	4


Income before income taxes	$	5	$	—	$	3	$	8	$	(4)
Provision for income taxes	1		—		1		2		(1)
Preferred stock dividends *	3		—		—		(3)		—
Net income/(loss) available to common shareholders	$	1	$	—	$	2	$	9	$	(3)
EPS impact of notable items	$	—	$	—	$	—	$	0.01	$	—

Numbers may not total due to rounding.

* 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock.


FINANCIAL RATIOS
Quarterly, Unaudited
																2Q26 Change vs.
	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26					2Q25
FINANCIAL RATIOS																$/bp			%		$/bp			%
Net interest margin6	3.49		%	3.52		%	3.51		%	3.55		%	3.40		%	(3)		bp			9		bp

Return on average assets	1.31		%	1.30		%	1.27		%	1.29		%	1.20		%	1		bp			11		bp
Adjusted return on average assets4	1.33		%	1.30		%	1.28		%	1.32		%	1.18		%	3		bp			15		bp
Return on average common equity (“ROCE”)	12.33		%	12.26		%	11.99		%	11.74		%	11.14		%	7		bp			119		bp

Return on average tangible common equity (“ROTCE”)4	15.21		%	15.12		%	14.82		%	14.49		%	13.85		%	9		bp			136		bp
Adjusted ROTCE4	15.29		%	15.12		%	14.96		%	15.00		%	13.65		%	17		bp			164		bp
Noninterest income as a % of total revenue	23.73		%	22.63		%	23.89		%	24.16		%	22.73		%	110		bp			100		bp
Adjusted noninterest income as a % of total revenue4	23.65		%	22.55		%	23.80		%	24.07		%	22.63		%	110		bp			102		bp
Efficiency ratio	59.88		%	58.54		%	61.33		%	61.92		%	59.20		%	134		bp			68		bp
Adjusted efficiency ratio4	59.11		%	58.34		%	60.73		%	60.76		%	59.47		%	77		bp			(36)		bp
Allowance for loan and lease losses to loans and leases	1.09		%	1.13		%	1.15		%	1.23		%	1.29		%	(4)		bp			(20)		bp
Allowance for credit losses to loans and leases4	1.24		%	1.28		%	1.31		%	1.38		%	1.42		%	(4)		bp			(18)		bp

CAPITAL DATA
CET1 capital ratio*	10.5		%	10.5		%	10.6		%	11.0		%	11.0		%	(7)		bp			(53)		bp
Tier 1 capital ratio*	11.8		%	11.9		%	11.5		%	11.9		%	12.0		%	(17)		bp			(23)		bp
Total capital ratio*	13.4		%	13.7		%	13.3		%	13.8		%	14.0		%	(36)		bp			(56)		bp
Tier 1 leverage ratio*	10.5		%	10.6		%	10.2		%	10.5		%	10.6		%	(12)		bp			(5)		bp
Risk-weighted assets (“RWA”) (billions)*	$	74.6		$	73.3		$	73.0		$	72.0		$	71.7		$	1.2		2	%	$	2.8		4	%
Total equity to total assets	11.21		%	11.25		%	10.90		%	11.11		%	11.28		%	(4)		bp			(7)		bp
Tangible common equity/tangible assets (“TCE/TA”)4	8.31		%	8.27		%	8.37		%	8.55		%	8.58		%	4		bp			(27)		bp
Period-end shares outstanding (millions)8	474			476			485			500			509			(2)			—	%	(35)			(7)	%
Cash dividends declared per common share	$	0.17		$	0.17		$	0.15		$	0.15		$	0.15		$	—		—	%	$	0.02		13	%
Book value per common share	$	17.91		$	17.72		$	17.53		$	17.19		$	16.78		$	0.19		1	%	$	1.13		7	%
Tangible book value per common share4	$	14.53		$	14.34		$	14.20		$	13.94		$	13.57		$	0.19		1	%	$	0.96		7	%


SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)	95.97		%	96.83		%	95.08		%	96.23		%	96.47		%	(86)		bp			(50)		bp
Loans-to-deposit ratio (average balances)	96.87		%	95.44		%	95.33		%	95.24		%	96.62		%	143		bp			25		bp
Full-time equivalent associates	7,422			7,369			7,373			7,341			7,255			53			1	%	167			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


											2Q26 Change vs.
(In millions)	2Q26		1Q26		4Q25		3Q25		2Q25		1Q26				2Q25
Assets:											$		%		$		%

Loans and leases:
Commercial, financial, and industrial (C&I)	$	37,296	$	36,467	$	35,905	$	34,401	$	34,359	$	829	2	%	$	2,936	9	%
Commercial real estate	13,595		13,420		13,563		13,674		13,936		175		1		(341)		(2)
Total Commercial	50,891		49,887		49,468		48,076		48,295		1,004		2		2,596		5
Consumer real estate	13,869		13,928		14,107		14,403		14,368		(59)		—		(498)		(3)
Credit card and other5	570		562		580		579		597		8		1		(27)		(5)
Total Consumer	14,439		14,490		14,688		14,982		14,965		(50)		—		(525)		(4)
Loans and leases, net of unearned income	65,330		64,377		64,156		63,058		63,260		953		1		2,070		3
Loans held for sale	501		562		406		501		402		(61)		(11)		99		25
Investment securities	9,062		9,351		9,382		9,332		9,362		(289)		(3)		(300)		(3)
Trading securities	1,417		1,812		1,904		2,070		1,430		(395)		(22)		(13)		(1)
Interest-bearing deposits with banks	1,158		1,116		1,125		1,228		911		43		4		247		27
Federal funds sold and securities purchased under agreements to resell	594		754		634		774		527		(160)		(21)		67		13
Total interest earning assets	78,063		77,971		77,606		76,963		75,893		92		—		2,170		3
Cash and due from banks	1,034		889		961		912		988		145		16		46		5
Goodwill and other intangible assets, net	1,599		1,607		1,615		1,624		1,633		(8)		(1)		(34)		(2)
Premises and equipment, net	545		539		544		553		561		5		1		(17)		(3)
Allowance for loan and lease losses	(709)		(730)		(738)		(777)		(814)		21		3		105		13
Other assets	3,906		3,855		3,889		3,916		3,823		51		1		83		2
Total assets	$	84,437	$	84,132	$	83,876	$	83,192	$	82,084	$	306	—	%	$	2,354	3	%

Liabilities and Shareholders' Equity:
Deposits:
Savings	$	25,553	$	26,007	$	26,010	$	26,365	$	25,939	$	(454)	(2)	%	$	(386)	(1)	%
Time deposits	10,018		7,125		6,485		6,201		7,270		2,893		41		2,749		38
Other interest-bearing deposits	16,508		17,440		19,158		16,936		16,477		(933)		(5)		31		—
Total interest-bearing deposits	52,078		50,572		51,653		49,502		49,685		1,506		3		2,393		5
Trading liabilities	533		666		607		662		469		(134)		(20)		63		14
Federal funds purchased and securities sold under agreements to repurchase	2,161		2,193		3,012		2,675		3,201		(32)		(1)		(1,040)		(32)
Short-term borrowings	842		1,975		241		1,596		260		(1,132)		(57)		582		NM
Term borrowings	1,321		1,318		1,321		1,328		1,342		2		—		(21)		(2)
Total interest-bearing liabilities	56,935		56,725		56,835		55,763		54,957		210		—		1,978		4
Noninterest-bearing deposits	15,994		15,910		15,823		16,023		15,892		84		1		103		1
Other liabilities	2,045		2,032		2,076		2,163		1,978		13		1		67		3
Total liabilities	74,974		74,667		74,734		73,948		72,826		307		—		2,148		3
Shareholders' Equity:
Preferred stock10	682		741		349		349		426		(59)		(8)		255		60
Common stock	296		297		303		313		318		(1)		—		(22)		(7)
Capital surplus	3,653		3,759		3,974		4,288		4,459		(106)		(3)		(805)		(18)
Retained earnings	5,383		5,205		5,030		4,848		4,671		178		3		713		15
Accumulated other comprehensive loss, net	(846)		(832)		(809)		(849)		(912)		(13)		(2)		66		7
Combined shareholders' equity	9,168		9,170		8,847		8,949		8,962		(1)		—		206		2
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,464		9,465		9,142		9,244		9,257		(1)		—		206		2
Total liabilities and shareholders' equity	$	84,437	$	84,132	$	83,876	$	83,192	$	82,084	$	306	—	%	$	2,354	3	%
Memo:
Total deposits	$	68,073	$	66,482	$	67,477	$	65,525	$	65,576	$	1,590	2	%	$	2,496	4	%
Loans to mortgage companies	$	4,759	$	4,641	$	4,703	$	3,926	$	4,058	$	118	3	%	$	701	17	%
Unfunded Loan Commitments:
Commercial	$	20,164	$	18,980	$	18,644	$	18,485	$	17,784	$	1,184	6	%	$	2,381	13	%
Consumer	$	4,016	$	4,022	$	4,002	$	4,036	$	4,153	$	(6)	—	%	$	(137)	(3)	%

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


											2Q26 Change vs.
(In millions)	2Q26		1Q26		4Q25		3Q25		2Q25		1Q26				2Q25
Assets:											$		%		$		%
Loans and leases:
Commercial, financial, and industrial (C&I)	$	36,745	$	35,208	$	35,005	$	34,011	$	33,634	$	1,537	4	%	$	3,111	9	%
Commercial real estate	13,510		13,417		13,587		13,772		14,070		93		1		(560)		(4)
Total Commercial	50,256		48,625		48,591		47,784		47,704		1,631		3		2,551		5
Consumer real estate	13,873		13,998		14,255		14,409		14,224		(126)		(1)		(351)		(2)
Credit card and other5	566		569		586		594		623		(2)		—		(56)		(9)
Total Consumer	14,439		14,567		14,841		15,004		14,847		(128)		(1)		(408)		(3)
Loans and leases, net of unearned income	64,695		63,192		63,432		62,787		62,551		1,503		2		2,144		3
Loans held-for-sale	532		479		515		454		501		53		11		30		6
Investment securities	9,218		9,454		9,321		9,321		9,330		(236)		(2)		(112)		(1)
Trading securities	1,677		1,796		1,798		1,625		1,609		(118)		(7)		68		4
Interest-bearing deposits with banks	1,168		1,233		1,218		1,272		1,259		(65)		(5)		(91)		(7)
Federal funds sold and securities purchased under agreements to resell	669		756		743		573		636		(87)		(11)		33		5
Total interest earning assets	77,960		76,910		77,027		76,032		75,887		1,050		1		2,073		3
Cash and due from banks	923		936		900		860		864		(13)		(1)		59		7
Goodwill and other intangible assets, net	1,603		1,611		1,619		1,628		1,638		(8)		(1)		(35)		(2)
Premises and equipment, net	544		543		548		556		565		—		—		(22)		(4)
Allowance for loan and lease losses	(732)		(750)		(774)		(809)		(828)		18		2		96		12
Other assets	3,799		3,795		3,760		3,781		3,831		4		—		(32)		(1)
Total assets	$	84,097	$	83,045	$	83,081	$	82,049	$	81,958	$	1,052	1	%	$	2,139	3	%

Liabilities and shareholders' equity:
Deposits:
Savings	$	25,618	$	26,148	$	26,693	$	26,326	$	25,899	$	(530)	(2)	%	$	(281)	(1)	%
Time deposits	8,501		6,755		6,205		6,871		6,630		1,746		26		1,871		28
Other interest-bearing deposits	16,914		17,679		17,573		16,866		16,362		(765)		(4)		552		3
Total interest-bearing deposits	51,033		50,582		50,470		50,063		48,891		451		1		2,142		4
Trading liabilities	645		729		722		549		613		(83)		(11)		33		5
Federal funds purchased and securities sold under agreements to repurchase	2,518		2,649		2,807		2,631		2,692		(132)		(5)		(174)		(6)
Short-term borrowings	1,400		894		470		387		1,208		507		57		192		16
Term borrowings	1,319		1,319		1,323		1,335		1,556		—		—		(238)		(15)
Total interest-bearing liabilities	56,916		56,173		55,792		54,965		54,960		742		1		1,956		4
Noninterest-bearing deposits	15,749		15,628		16,072		15,862		15,851		121		1		(102)		(1)
Other liabilities	1,988		1,999		2,082		1,999		2,050		(11)		(1)		(61)		(3)
Total liabilities	74,652		73,800		73,946		72,825		72,861		853		1		1,792		2
Shareholders' Equity:
Preferred stock10	682		436		349		350		426		246		56		255		60
Common stock	297		300		307		316		318		(3)		(1)		(21)		(7)
Capital surplus	3,703		3,866		4,095		4,379		4,464		(163)		(4)		(761)		(17)
Retained earnings	5,310		5,129		4,910		4,798		4,562		181		4		748		16
Accumulated other comprehensive loss, net	(842)		(781)		(821)		(913)		(967)		(61)		(8)		125		13
Combined shareholders' equity	9,149		8,950		8,840		8,928		8,802		199		2		347		4
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,444		9,245		9,135		9,224		9,097		199		2		347		4
Total liabilities and shareholders' equity	$	84,097	$	83,045	$	83,081	$	82,049	$	81,958	$	1,052	1	%	$	2,139	3	%
Memo:
Total deposits	$	66,782	$	66,210	$	66,542	$	65,924	$	64,742	$	572	1	%	$	2,040	3	%
Loans to mortgage companies	$	4,284	$	3,884	$	4,160	$	3,628	$	3,533	$	399	10	%	$	751	21	%

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
																					2Q26 Change vs.
	2Q26				1Q26				4Q25				3Q25				2Q25				1Q26					2Q25
(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	$	735	5.87	%	$	707	5.89	%	$	743	6.07	%	$	767	6.37	%	$	738	6.21	%	$	28		4	%	$	(3)		—	%


Consumer	180		4.97		181		4.99		187		5.02		191		5.07		186		4.99		(2)			(1)		(6)			(3)
Loans and leases, net of unearned income	915		5.67		887		5.68		930		5.83		957		6.06		924		5.92		27			3		(9)			(1)
Loans held-for-sale	8		6.18		7		6.26		8		6.45		8		6.86		8		6.76		1			10		—			(3)
Investment securities	70		3.05		71		3.02		71		3.06		72		3.09		71		3.06		(1)			(2)		(1)			(2)
Trading securities	23		5.55		24		5.25		25		5.57		24		5.81		23		5.72		—			(1)		—			1
Interest-bearing deposits with banks	11		3.69		11		3.69		12		3.97		14		4.41		14		4.45		—			(4)		(3)			(23)
Federal funds sold and securities purchased under agreements	6		3.56		7		3.55		7		3.86		6		4.20		7		4.24		(1)			(10)		(1)			(11)
Interest income	$	1,033	5.31	%	$	1,008	5.29	%	$	1,054	5.44	%	$	1,081	5.65	%	$	1,047	5.53	%	$	26		3	%	$	(14)		(1)	%

Interest-bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings	$	138	2.17	%	$	138	2.14	%	$	169	2.51	%	$	184	2.78	%	$	177	2.73	%	$	—		—	%	$	(38)		(22)	%
Time deposits	74		3.48		56		3.39		55		3.49		64		3.71		64		3.88		17			31		10			15
Other interest-bearing deposits	84		1.99		89		2.04		98		2.22		102		2.41		96		2.36		(5)			(6)		(12)			(13)
Total interest-bearing deposits	296		2.33		284		2.28		322		2.53		351		2.78		337		2.76		12			4		(41)			(12)
Trading liabilities	6		4.00		7		3.81		7		3.76		5		3.93		6		4.07		—			(6)		—			4
Federal funds purchased and securities sold under agreements to repurchase	19		3.09		20		2.98		23		3.21		23		3.52		24		3.61		—			(1)		(5)			(20)
Short-term borrowings	13		3.83		8		3.78		5		4.08		4		4.39		13		4.47		5			61		—			—
Term borrowings	19		5.65		19		5.65		19		5.76		19		5.82		22		5.60		—			—		(3)			(14)
Interest expense	354		2.49		337		2.43		375		2.67		403		2.91		403		2.94		17			5		(49)			(12)
Net interest income - tax equivalent basis	679		2.82		670		2.86		679		2.77		678		2.74		645		2.59		9			1		35			5
Fully taxable equivalent adjustment	(3)		0.67		(3)		0.66		(3)		0.74		(3)		0.81		(4)		0.81		—			(3)		—			13
Net interest income	$	676	3.49	%	$	667	3.52	%	$	676	3.51	%	$	674	3.55	%	$	641	3.40	%	$	9		1	%	$	35		5	%

Memo:
Total loan yield			5.67	%			5.68	%			5.83	%			6.06	%			5.92	%	(1)		bp			(25)		bp
Total deposit cost			1.78	%			1.74	%			1.92	%			2.11	%			2.09	%	4		bp			(31)		bp
Total funding cost			1.95	%			1.90	%			2.07	%			2.26	%			2.28	%	5		bp			(33)		bp
Average loans and leases, net of unearned income	$	64,695			$	63,192			$	63,432			$	62,787			$	62,551			$	1,503		2	%	$	2,144		3	%
Average deposits	66,782				66,210				66,542				65,924				64,742				572			1	%	2,040			3	%
Average funded liabilities	72,664				71,801				71,864				70,827				70,811				$	863		1	%	$	1,853		3	%

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															2Q26 change vs.
(In millions, except ratio data)	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26				2Q25
																$		%		$		%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)	$	205		$	219		$	224		$	211		$	224		$	(13)	(6)	%	$	(19)	(9)	%
Commercial real estate	184			243			239			254			236			(58)		(24)		(52)		(22)
Consumer real estate	141			144			140			139			131			(3)		(2)		10		8
Credit card and other5	1			1			1			1			1			—		(30)		—		(40)
Total nonperforming loans and leases	$	531		$	606		$	604		$	605		$	593		$	(75)	(12)	%	$	(62)	(10)	%

Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)	0.55		%	0.60		%	0.62		%	0.61		%	0.65		%
Commercial real estate	1.36			1.81			1.76			1.86			1.70
Consumer real estate	1.02			1.03			0.99			0.96			0.91
Credit card and other5	0.13			0.19			0.16			0.25			0.21
Total nonperforming loans and leases to loans and leases	0.81		%	0.94		%	0.94		%	0.96		%	0.94		%

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										2Q26 change vs.
(In millions)	2Q26		1Q26		4Q25		3Q25		2Q25		1Q26				2Q25
											$		%		$		%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)	$	1	$	1	$	1	$	1	$	1	$	—	2	%	$	—	37	%
Commercial real estate	—		—		—		—		—		—		NM		—		NM
Consumer real estate	—		2		6		6		6		(1)		(65)		(6)		(91)
Credit card and other5	1		1		1		2		1		—		21		—		(35)
Total loans and leases 90 days or more past due and accruing	$	2	$	3	$	8	$	9	$	8	$	(1)	(28)	%	$	(6)	(73)	%

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															2Q26 change vs.
(In millions, except ratio data)	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26				2Q25
Charge-off, Recoveries and Related Ratios																$		%		$		%
Gross Charge-offs
Commercial, financial, and industrial (C&I)	$	32		$	36		$	39		$	25		$	28		$	(4)	(11)	%	$	4	16	%
Commercial real estate	3			4			2			3			8			(1)		(18)		(5)		(61)
Consumer real estate	1			1			1			1			2			(1)		(35)		(1)		(47)
Credit card and other5	5			4			4			6			6			—		9		(1)		(24)
Total gross charge-offs	$	41		$	45		$	47		$	36		$	43		$	(5)	(11)	%	$	(2)	(6)	%
Gross Recoveries
Commercial, financial, and industrial (C&I)	$	(5)		$	(14)		$	(13)		$	(6)		$	(6)		$	9	65	%	$	1	22	%
Commercial real estate	—			—			—			—			—			—		13		—		NM
Consumer real estate	(2)			(2)			(2)			(1)			(2)			—		18		—		1
Credit card and other5	(1)			(1)			(1)			(1)			(2)			—		(22)		—		21
Total gross recoveries	$	(8)		$	(17)		$	(16)		$	(9)		$	(9)		$	9	54	%	$	1	15	%
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I)	$	27		$	23		$	26		$	19		$	22		$	5	20	%	$	6	26	%
Commercial real estate	3			3			2			3			8			(1)		(18)		(5)		(64)
Consumer real estate	(1)			—			(1)			(1)			—			—		(38)		(1)		NM
Credit card and other5	4			3			3			5			4			—		4		(1)		(25)
Total net charge-offs	$	33		$	29		$	30		$	26		$	34		$	4	14	%	$	(1)	(3)	%

Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I)	0.30		%	0.26		%	0.30		%	0.22		%	0.26		%
Commercial real estate	0.08			0.10			0.04			0.09			0.22
Consumer real estate	(0.02)			(0.01)			(0.02)			(0.02)			—
Credit card and other5	2.17			2.10			2.31			3.54			2.64
Total loans and leases	0.20		%	0.18		%	0.19		%	0.17		%	0.22		%

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										2Q26 Change vs.
(In millions)	2Q26		1Q26		4Q25		3Q25		2Q25		1Q26				2Q25
Summary of Changes in the Components of the Allowance For Credit Losses											$		%		$		%
Allowance for loan and lease losses - beginning	$	730	$	738	$	777	$	814	$	822	$	(9)	(1)	%	$	(93)	(11)	%













Charge-offs:
Commercial, financial, and industrial (C&I)	(32)		(36)		(39)		(25)		(28)		4		11		(4)		(16)
Commercial real estate	(3)		(4)		(2)		(3)		(8)		1		18		5		61
Consumer real estate	(1)		(1)		(1)		(1)		(2)		1		35		1		47
Credit card and other5	(5)		(4)		(4)		(6)		(6)		—		(9)		1		24
Total charge-offs	(41)		(45)		(47)		(36)		(43)		5		11		2		6
Recoveries:
Commercial, financial, and industrial (C&I)	5		14		13		6		6		(9)		(65)		(1)		(22)
Commercial real estate	—		—		—		—		—		—		(13)		—		NM
Consumer real estate	2		2		2		1		2		—		(18)		—		(1)
Credit card and other5	1		1		1		1		2		—		22		—		(21)
Total Recoveries	8		17		16		9		9		(9)		(54)		(1)		(15)
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I)	24		41		28		5		23		(16)		(40)		1		4
Commercial real estate	(3)		(17)		(26)		(5)		(5)		13		78		1		17
Consumer real estate	(12)		(6)		(13)		(15)		4		(5)		(84)		(16)		NM
Credit card and other5	3		3		3		4		3		—		5		—		(13)
Total provision for loan and lease losses:	12		20		(8)		(11)		26		(8)		(40)		(14)		(53)
Allowance for loan and lease losses - ending	$	709	$	730	$	738	$	777	$	814	$	(21)	(3)	%	$	(105)	(13)	%

Reserve for unfunded commitments - beginning	$	96	$	101	$	93	$	87	$	83	$	(5)	(5)	%	$	13	16	%


Provision for unfunded commitments	3		(5)		8		6		4		8		NM		(1)		(25)
Reserve for unfunded commitments - ending	$	99	$	96	$	101	$	93	$	87	$	3	3	%	$	12	14	%
Total allowance for credit losses - ending	$	808	$	826	$	839	$	870	$	901	$	(18)	(2)	%	$	(93)	(10)	%

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
	2Q26		1Q26		4Q25		3Q25		2Q25

Allowance for loan and lease losses to loans and leases
Commercial, financial, and industrial (C&I)	0.94	%	0.97	%	0.93	%	0.97	%	1.01	%
Commercial real estate	1.10	%	1.16	%	1.30	%	1.49	%	1.53	%
Consumer real estate	1.37	%	1.44	%	1.46	%	1.52	%	1.63	%
Credit card and other5	3.42	%	3.49	%	3.40	%	3.42	%	3.50	%
Total allowance for loan and lease losses to loans and leases	1.09	%	1.13	%	1.15	%	1.23	%	1.29	%
Allowance for loan and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)	171	%	162	%	150	%	158	%	155	%
Commercial real estate	81	%	64	%	74	%	80	%	90	%
Consumer real estate	135	%	140	%	147	%	158	%	179	%
Credit card and other5	2,617	%	1,842	%	2,096	%	1,380	%	1,684	%
Total allowance for loan and lease losses to nonperforming loans and leases	133	%	120	%	122	%	128	%	137	%

Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4	1.24	%	1.28	%	1.31	%	1.38	%	1.42	%
Total allowance for credit losses to nonperforming loans and leases4	152	%	136	%	139	%	144	%	152	%

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

COMMERCIAL, CONSUMER, AND WEALTH

Quarterly, Unaudited


																2Q26 Change vs.
	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26					2Q25
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	654		$	649		$	662		$	671		$	643		$	5		1	%	$	11		2	%
Noninterest income	123			119			124			117			113			5			4		10			9
Total revenue	777			768			786			787			757			9			1		21			3
Noninterest expense	376			368			380			366			355			9			2		21			6
Pre-provision net revenue3	401			400			407			421			402			1			—		—			—
Provision for credit losses	1			8			(2)			2			13			(7)			(89)		(12)			(94)
Income before income tax expense	400			393			409			420			389			8			2		12			3
Income tax expense	96			94			98			100			92			2			2		4			4
Net income	$	304		$	299		$	311		$	319		$	296		$	6		2	%	$	8		3	%

Average Balances (billions)
Total loans and leases	$	57.5		$	56.5		$	56.5		$	56.4		$	56.3		$	1.0		2	%	$	1.2		2	%
Interest-earning assets	57.5			56.5			56.5			56.4			56.3			1.0			2		1.2			2
Total assets	60.0			59.0			59.0			58.8			58.7			1.0			2		1.3			2
Total deposits	58.1			58.7			59.4			59.1			58.9			(0.6)			(1)		(0.8)			(1)

Key Metrics
Net interest margin6	4.58		%	4.68		%	4.67		%	4.74		%	4.60		%	(10)		bp			(2)		bp
Efficiency ratio	48.39		%	47.86		%	48.31		%	46.50		%	46.91		%	53		bp			148		bp
Loans-to-deposits ratio (period-end balances)	98.64		%	95.94		%	94.83		%	94.56		%	95.33		%	270		bp			331		bp
Loans-to-deposits ratio (average balances)	98.90		%	96.19		%	95.09		%	95.30		%	95.59		%	271		bp			331		bp
Return on average assets (annualized)	2.03		%	2.05		%	2.09		%	2.15		%	2.02		%	(2)		bp			1		bp
Return on allocated equity7	20.81		%	20.57		%	20.34		%	20.37		%	18.80		%	24		bp			201		bp
Financial center locations	407			410			412			413			414			(3)					(7)

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


																2Q26 Change vs.
	2Q26			1Q26			4Q25			3Q25			2Q25			1Q26					2Q25
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	67		$	62		$	66		$	60		$	57		$	5		8	%	$	10		17	%
Noninterest income	58			64			69			74			53			(7)			(10)		4			8
Total revenue	125			126			135			134			111			(2)			(1)		14			13
Noninterest expense	79			83			85			83			75			(5)			(6)		4			5
Pre-provision net revenue3	46			43			50			52			36			3			7		10			29
Provision for credit losses	23			9			3			(1)			6			14			146		17			NM
Income before income tax expense	23			34			47			52			30			(10)			(31)		(7)			(22)
Income tax expense	6			8			11			13			7			(3)			(32)		(2)			(24)
Net income	$	18		$	26		$	36		$	40		$	23		$	(8)		(30)	%	$	(5)		(22)	%

Average Balances (billions)
Total loans and leases	$	7.0		$	6.3		$	6.5		$	6.0		$	5.8		$	0.7		10	%	$	1.2		20	%
Interest-earning assets	9.9			9.4			9.6			8.7			8.6			0.5			5		1.3			15
Total assets	10.5			10.1			10.3			9.4			9.3			0.5			5		1.2			13
Total deposits	2.0			2.3			2.3			2.2			2.1			(0.3)			(12)		(0.1)			(4)

Key Metrics
Fixed income product average daily revenue (thousands)	$	594		$	742		$	765		$	771		$	550		$	(149)		(20)	%	$	43		8	%
Net interest margin6	2.73		%	2.68		%	2.72		%	2.77		%	2.67		%	5		bp			6		bp
Efficiency ratio	63.00		%	66.01		%	62.77		%	61.54		%	67.76		%	(302)		bp			(476)		bp
Loans-to-deposits ratio (period-end balances)	419		%	354		%	343		%	319		%	312		%	6,585		bp			10,756		bp
Loans-to-deposits ratio (average balances)	353		%	280		%	288		%	276		%	282		%	7,220		bp			7,021		bp
Return on average assets (annualized)	0.68		%	1.03		%	1.38		%	1.68		%	0.98		%	(35)		bp			(31)		bp
Return on allocated equity7	11.50		%	17.55		%	24.11		%	26.29		%	15.39		%	(605)		bp			(389)		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


											2Q26 Change vs.
	2Q26		1Q26		4Q25		3Q25		2Q25		1Q26				2Q25
											$		%		$		%
Income Statement (millions)
Net interest income/(expense)	$	(45)	$	(44)	$	(51)	$	(56)	$	(60)	$	(1)	(2)	%	$	14	24	%
Noninterest income	30		12		18		25		22		18		NM		8		36
Total revenues	(15)		(32)		(33)		(32)		(38)		17		52		22		59
Noninterest expense	76		54		80		102		61		22		41		15		24
Pre-provision net revenue3	(92)		(86)		(113)		(134)		(99)		(5)		(6)		7		7
Provision for credit losses	(9)		(2)		(1)		(6)		11		(7)		NM		(20)		NM
Income before income tax expense	(83)		(84)		(112)		(128)		(110)		1		2		27		25
Income tax expense (benefit)	(35)		(26)		(31)		(35)		(35)		(9)		(35)		—		—
Net income/(loss)	$	(48)	$	(58)	$	(81)	$	(93)	$	(75)	$	11	18	%	$	27	36	%

Average Balance Sheet (billions)
Interest bearing assets	$	10.6	$	11.1	$	11.0	$	11.0	$	11.0	$	(0.5)	(4)	%	$	(0.4)	(4)	%
Total assets	13.6		14.0		13.8		13.9		13.9		(0.4)		(3)		(0.4)		(3)

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 $153 million of commercial credit card balances at June 30, 2026.

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. 1Q26 decrease was driven by equity market valuations.

10 Preferred Stock balance impacted by the issuance of Series H Preferred Stock in 1Q26.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($ in millions, except per share data)	2Q26			1Q26			4Q25			3Q25			2Q25

Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	9,464		$	9,465		$	9,142		$	9,244		$	9,257
Less: Noncontrolling interest (a)	295			295			295			295			295
Less: Preferred stock (a)	682			741			349			349			426
(B) Total common equity	$	8,487		$	8,429		$	8,498		$	8,600		$	8,536
Less: Intangible assets (GAAP) (b)	1,599			1,607			1,615			1,624			1,633
(C) Tangible common equity (Non-GAAP)	$	6,888		$	6,822		$	6,882		$	6,976		$	6,903

Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	84,437		$	84,132		$	83,876		$	83,192		$	82,084
Less: Intangible assets (GAAP) (b)	1,599			1,607			1,615			1,624			1,633
(E) Tangible assets (Non-GAAP)	$	82,839		$	82,525		$	82,261		$	81,568		$	80,451












Period-end Shares Outstanding
(F) Period-end shares outstanding	474			476			485			500			509

Ratios


(A)/(D) Total equity to total assets (GAAP)	11.21		%	11.25		%	10.90		%	11.11		%	11.28		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	8.31		%	8.27		%	8.37		%	8.55		%	8.58		%
(B)/(F) Book value per common share (GAAP)	$	17.91		$	17.72		$	17.53		$	17.19		$	16.78
(C)/(F) Tangible book value per common share (Non-GAAP)	$	14.53		$	14.34		$	14.20		$	13.94		$	13.57

(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

($ in millions, except per share data)		2Q26			1Q26			4Q25			3Q25			2Q25

Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)	a	$	260		$	257		$	257		$	254		$	233
Plus Total notable items (after-tax) (Non-GAAP) (a)		$	1		$	—		$	2		$	9		$	(3)
Adjusted net income available to common shareholders (Non-GAAP)	b	$	262		$	257		$	259		$	263		$	229

Diluted Shares (GAAP)8	c	480			487			496			510			514

Diluted EPS (GAAP)	a/c	$	0.54		$	0.53		$	0.52		$	0.50		$	0.45
Adjusted diluted EPS (Non-GAAP)	b/c	$	0.54		$	0.53		$	0.52		$	0.51		$	0.45

Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)		$	274		$	266		$	266		$	266		$	244
Plus Relevant notable items (after-tax) (Non-GAAP) (a)		$	4		$	—		$	2		$	6		$	(3)
Adjusted NI (Non-GAAP)		$	278		$	266		$	268		$	272		$	241

NI (annualized) (GAAP)	d	$	1,101		$	1,079		$	1,054		$	1,055		$	980
Adjusted NI (annualized) (Non-GAAP)	e	$	1,116		$	1,079		$	1,064		$	1,079		$	967

Average assets (GAAP)	f	$	84,097		$	83,045		$	83,081		$	82,049		$	81,958

ROA (GAAP)	d/f	1.31		%	1.30		%	1.27		%	1.29		%	1.20		%
Adjusted ROA (Non-GAAP)	e/f	1.33		%	1.30		%	1.28		%	1.32		%	1.18		%

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	$	1,044		$	1,044		$	1,018		$	1,007		$	933
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)	h	$	1,049		$	1,044		$	1,028		$	1,042		$	919

Average Common Equity (GAAP)	i	$	8,468		$	8,514		$	8,491		$	8,579		$	8,376
Intangible Assets (GAAP) (b)		1,603			1,611			1,619			1,628			1,638
Average Tangible Common Equity (Non-GAAP)	j	$	6,865		$	6,903		$	6,872		$	6,950		$	6,738



ROCE (GAAP)	g/i	12.33		%	12.26		%	11.99		%	11.74		%	11.14		%


ROTCE (Non-GAAP)	g/j	15.21		%	15.12		%	14.82		%	14.49		%	13.85		%
Adjusted ROTCE (Non-GAAP)	h/j	15.29		%	15.12		%	14.96		%	15.00		%	13.65		%

(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)		2Q26			1Q26			4Q25			3Q25			2Q25

Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)	k	$	211		$	195		$	212		$	215		$	189
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted noninterest income (Non-GAAP)	l	$	211		$	195		$	212		$	215		$	189

Revenue (GAAP)	m	$	887		$	862		$	888		$	889		$	830
Taxable-equivalent adjustment		3			3			3			3			4
Revenue- Taxable-equivalent (Non-GAAP)		890			865			892			893			833
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted revenue (Non-GAAP)	n	$	890		$	865		$	892		$	893		$	833

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

Noninterest income as a % of total revenue (GAAP)	(k-o)/(m-o)	23.73		%	22.63		%	23.89		%	24.16		%	22.73		%
Adjusted noninterest income as a % of total revenue (Non-GAAP)	(l-o)/(n-o)	23.65		%	22.55		%	23.80		%	24.07		%	22.63		%

Adjusted Efficiency Ratio
Noninterest expense (GAAP)	p	$	531		$	505		$	545		$	551		$	491
Plus notable items (pretax) (GAAP) (a)		(5)			—			(3)			(8)			4
Adjusted noninterest expense (Non-GAAP)	q	$	526		$	505		$	541		$	542		$	495

Revenue (GAAP)	r	$	887		$	862		$	888		$	889		$	830
Taxable-equivalent adjustment		3			3			3			3			4
Revenue- Taxable-equivalent (Non-GAAP)		890			865			892			893			833
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted revenue (Non-GAAP)	s	$	890		$	865		$	892		$	893		$	833

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

Efficiency ratio (GAAP)	p/ (r-t)	59.88		%	58.54		%	61.33		%	61.92		%	59.20		%
Adjusted efficiency ratio (Non-GAAP)	q/ (s-t)	59.11		%	58.34		%	60.73		%	60.76		%	59.47		%

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

Numbers may not total due to rounding.

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION

Quarterly, Unaudited

($ in millions)



	Period-end								Average
	2Q26		1Q26		2Q26 vs. 1Q26				2Q26		1Q26		2Q26 vs. 1Q26










Loans excluding LMC
Total Loans (GAAP)	$	65,330	$	64,377	$	953	1	%	$	64,695	$	63,192	$	1,503	2	%
LMC (GAAP)	4,759		4,641		118		3	%	4,284		3,884		399		10	%
Total Loans excl. LMC (Non-GAAP)	60,571		59,736		835		1	%	60,411		59,308		1,104		2	%
Total Consumer (GAAP)	14,439		14,490		(50)		—	%	14,439		14,567		(128)		(1)	%
Total Commercial excl. LMC (Non-GAAP)	46,131		45,246		886		2	%	45,972		44,741		1,232		3	%
Total CRE (GAAP)	13,595		13,420		175		1	%	13,510		13,417		93		1	%
Total C&I excl. LMC (Non-GAAP)	$	32,536	$	31,826	$	710	2	%	$	32,462	$	31,324	1,138		4	%

Numbers may not total due to rounding.



		2Q26			1Q26			4Q25			3Q25			2Q25
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	$	709		$	730		$	738		$	777		$	814
Reserve for unfunded commitments (GAAP)		99			96			101			93			87
Allowance for credit losses (Non-GAAP)	B	$	808		$	826		$	839		$	870		$	901

Loans and leases (GAAP)	C	$	65,330		$	64,377		$	64,156		$	63,058		$	63,260
Nonaccrual loans and leases (GAAP)	D	$	531		$	606		$	604		$	605		$	593

Allowance for loan and lease losses to loans and leases (GAAP)	A/C	1.09		%	1.13		%	1.15		%	1.23		%	1.29		%
Allowance for credit losses to loans and leases (Non-GAAP)	B/C	1.24		%	1.28		%	1.31		%	1.38		%	1.42		%

Allowance for loan and lease losses to nonperforming loans and leases (GAAP)	A/D	133		%	120		%	122		%	128		%	137		%
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)	B/D	152		%	136		%	139		%	144		%	152		%

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($ in millions)

	2Q26		1Q26		4Q25		3Q25		2Q25
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)	$	341	$	342	$	343	$	344	$	309
Plus notable items (pretax) (GAAP) (a)	5		—		3		8		(4)
Adjusted Pre-tax income (non-GAAP)	$	346	$	342	$	347	$	352	$	304
Plus provision for credit losses expense (GAAP)	15		15		—		(5)		30
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)	$	361	$	357	$	347	$	347	$	334
Taxable-equivalent adjustment	3		3		3		3		4
Adjusted Pre-provision net revenue-Taxable-equivalent (Non-GAAP)	$	364	$	360	$	350	$	351	$	338

(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