FIRST HORIZON CORP (Form: 8-K, Received: 01/15/2026 06:34:50)

FIRST HORIZON CORP0000036966false00000369662026-01-152026-01-150000036966fhn:A625ParValueCommonCapitalStockMember2026-01-152026-01-150000036966fhn:DepositorySharesEachRepresentingA14000thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesCMember2026-01-152026-01-150000036966fhn:DepositorySharesEachRepresentingA14000thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesEMember2026-01-152026-01-150000036966fhn:DepositorySharesEachRepresentingA14000thInterestInAShareOfNonCumulativePerpetualPreferredStockSeriesFMember2026-01-152026-01-15

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

______________________________________

_____________________________________

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

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

ITEM 2.02. Results of Operations and Financial Condition.

Furnished as Exhibit 99.1 is a copy of the First Horizon Corporation (“FHN” or "First Horizon") Fourth Quarter 2025 Earnings Release, released today.

ITEM 7.01. Regulation FD Disclosure.

Furnished as Exhibit 99.2 is a copy of the Investor Slide Presentation for the quarter ended December 31, 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 1/15/2026

ITEM 9.01. Financial Statements and 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 Fourth Quarter 2025 Earnings Release
99.2						Investor Slide Presentation for Fourth Quarter 2025 Earnings
104						Cover Page Interactive Data File, formatted in Inline XBRL


FIRST HORIZON CORPORATION			3			FORM 8-K CURRENT REPORT 1/15/2026

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:

January 15, 2026

By:

/s/ Hope Dmuchowski

Name:

Hope Dmuchowski

Title:

Senior Executive Vice President—Chief Financial Officer

(Duly Authorized Officer and Principal Financial Officer)


FIRST HORIZON CORPORATION			4			FORM 8-K CURRENT REPORT 1/15/2026

First Horizon Corporation Reports Full Year 2025 Net Income Available to Common Shareholders (NIAC) increased 29% to $956 Million or $1.87 EPS; Adjusted NIAC increased 15% to $968 Million or $1.89 EPS, driven by revenue strength and credit performance*

Fourth Quarter 2025 Net Income Available to Common Shareholders grew 1% to $257 Million or EPS of $0.52;

$259 Million or $0.52 on an Adjusted Basis, up 2% from Strong Third Quarter Results.*

MEMPHIS, TN (January 15, 2026) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported full year 2025 net income available to common shareholders ("NIAC") of $956 million or earnings per share of $1.87, which is a 38% EPS increase compared with full year 2024 earnings per share of $1.36 on NIAC of $738 million. 2025 results were reduced by a net $12 million after-tax reduction or $0.02 per share of notable items compared with a net $105 million after-tax reduction or $0.19 per share in 2024.

“We are pleased to report a strong fourth quarter performance to close out an outstanding 2025 for First Horizon. Consistent execution of our strategy across the organization has driven tremendous earnings growth throughout the year, resulting in an earnings per share of $0.52 in the fourth quarter," said Chairman, President and CEO Bryan Jordan.

“As we enter 2026, we remain focused on deepening client relationships, maximizing revenue opportunities, and enhancing our products and capabilities. I am grateful for the dedication of our associates and their commitment to success for our clients, shareholders, and each other." Jordan concluded, "Our disciplined risk management, resilient balance sheet, and operations in robust markets and businesses position us to deliver sustainable growth by building on the positive momentum generated in 2025.”

Fourth quarter net income available to common shareholders was $257 million or earnings per share of $0.52, compared with third quarter 2025 NIAC of $254 million or earnings per share of $0.50. Fourth quarter 2025 results were reduced by a net $2 million after-tax of notable items compared with $9 million or $0.01 per share in third quarter 2025. Excluding notable items, adjusted fourth quarter 2025 NIAC was $259 million or $0.52 per share compared to $263 million or $0.51 per share in third quarter 2025.


Notable Items
Unaudited ($ in millions, except per share data)	4Q25		3Q25		4Q24		2025		2024
Summary of Notable Items:

Deferred compensation adjustment	$	—	$	—	$	—	$	4	$	—
Loss on AFS portfolio restructuring	—		—		(91)		—		(91)




FDIC special assessment (other noninterest expense)	7		2		1		9		(9)
Other notable expenses	(10)		(10)		(3)		(25)		(29)
Total notable items (pre-tax)	$	(3)	$	(8)	$	(94)	$	(13)	$	(129)
Tax on notable items before preferred stock dividends	$	1	$	2	$	23	$	3	$	32
Preferred Stock Dividend **	$	—	$	(3)	$	—	$	(3)	$	(7)
Total notable items (after-tax)	$	(2)	$	(9)	$	(71)	$	(12)	$	(105)
Numbers may not total due to rounding.
** 3Q25 and 2025 include $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock. 2024 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock.

Fourth quarter pre-tax notable items include $7 million of expense credit for the FDIC special assessment and a $10 million impact related to Visa derivative valuation expenses.

*"Adjusted" results are non-GAAP financial measures; NII, total revenue, NIM and PPNR are presented on a fully taxable equivalent basis; references to loans include leases and EPS are based on diluted shares; capital ratios are preliminary. See page 6 for information on our use of non-GAAP measures and their reconciliation to GAAP beginning on page 22.

Full Year 2025 versus Full Year 2024

Net interest income (FTE) of $2.6 billion increased $110 million, or 4%. 2025 benefited from lower deposit pricing and higher loan balances, specifically in high-yielding loans to mortgage companies. Net interest margin improved to 3.47%, up 12 basis points from the prior year.

Noninterest income of $797 million increased $118 million, driven by prior year securities portfolio restructuring impacts and an increase in fixed income revenue of $18 million. Adjusted noninterest income of $797 million increased $26 million driven by a fixed income revenue increase of $18 million and mortgage banking revenue improvement of $8 million.

Noninterest expense of $2.1 billion increased $39 million and included $13 million of notable items in 2025 and $37 million in 2024. Adjusted noninterest expense of $2.1 billion increased $63 million, driven by a $33 million increase in salaries and benefits reflecting talent additions throughout the year with increases in occupancy & equipment and outside services of $27 million and $23 million, respectively, partially offset by reductions in other noninterest expenses of $15 million.

Average loan and lease balances of $62.6 billion increased $0.6 billion, including $0.9 billion of growth in loans to mortgage companies (LMC) from market share gains and fund-up of existing client lines. Period-end loans and leases were $64.2 billion, increasing $1.6 billion, with loans to mortgage companies up $1.2 billion from year end 2024 and other C&I loans up $1.2 billion, offset by a $0.9 billion decrease in CRE.

Average deposits of $65.4 billion were flat compared to 2024, and period end deposits of $67.5 billion were up 3% compared to year end 2024. Deposit costs decreased 42 basis points year-over-year, reflecting strong repricing performance.

Provision for credit losses expense of $65 million decreased from $150 million in 2024. Net charge-offs remained consistent year-over-year at $120 million or 19 basis points versus $112 million or 18 basis points in 2024. The ACL to loans ratio decreased to 1.31% from 1.43% in the prior year, reflecting criticized and classified loan resolutions throughout the year as well as favorable mix shift.

CET1 ratio was 10.64% and total capital ratio was 13.4% at year end 2025, down from 11.20% and 14.2%, respectively, at the end of 2024. Returned $894 million of capital to shareholders in 2025 through share repurchases at an average price of $21.16 per share including commissions.

2025 effective tax rate was 22.1% compared with 21.0% in 2024. On an adjusted basis, the effective tax rate was 22.1% in 2025 and 21.4% in 2024.


SUMMARY RESULTS
Annual, Unaudited


($s in millions, except per share and balance sheet data)	2025			2024
							$/bp			%
Income Statement
Interest income - taxable equivalent1	$	4,200		$	4,367		$	(167)		(4)%	%
Interest expense- taxable equivalent1	1,564			1,841			(277)			(15)
Net interest income- taxable equivalent	2,636			2,526			110			4
Less: Taxable-equivalent adjustment	14			16			(2)			(11)
Net interest income	2,622			2,511			112			4
Noninterest income	797			679			118			17
Total revenue	3,420			3,190			229			7
Noninterest expense	2,074			2,035			39			2
Pre-provision net revenue3	1,346			1,155			190			16
Provision for credit losses	65			150			(85)			(57)
Income before income taxes	1,281			1,005			275			27
Provision for income taxes	282			211			71			34
Net income	998			794			204			26
Net income attributable to noncontrolling interest	16			19			(3)			(15)
Net income attributable to controlling interest	982			775			207			27
Preferred stock dividends	26			36			(10)			(29)
Net income available to common shareholders	$	956		$	738		$	218		29 %	%

Adjusted net income4	$	1,008		$	891		$	117		13 %	%
Adjusted net income available to common shareholders4	$	968		$	843		$	126		15 %	%
Common stock information
EPS	$	1.87		$	1.36		$	0.51		38 %	%
Adjusted EPS4	$	1.89		$	1.55		$	0.34		22 %	%


Diluted shares8	511			544			(33)			(6)%	%
Key performance metrics
Net interest margin6	3.47 %		%	3.35 %		%	12		bp

Efficiency ratio	60.66			62.06			(140)
Adjusted efficiency ratio4	60.04			60.64			(60)
Effective income tax rate	22.06			21.03			103
Return on average assets	1.22			0.97			25
Adjusted return on average assets4	1.23			1.09			14
Return on average common equity (“ROCE")	11.3			8.8			250

Return on average tangible common equity (“ROTCE”)4	14.0			11.0			302
Adjusted ROTCE4	14.2			12.5			167
Noninterest income as a % of total revenue	23.30			23.44			(14)
Adjusted noninterest income as a % of total revenue4	23.21 %		%	23.33 %		%	(12)		bp
Balance Sheet (billions)
Average loans	$	62.6		$	62.0		$	0.6		1 %	%
Average deposits	65.4			65.7			(0.2)			—
Average assets	82.0			81.8			0.2			—
Average common equity	$	8.5		$	8.4		$	0.1		1 %	%
Asset Quality Highlights

Allowance for credit losses to loans and leases4	1.31 %		%	1.43 %		%	(12)		bp

Nonperforming loan and leases ratio	0.94 %		%	0.96 %		%	(2)		bp
Net charge-off ratio	0.19 %		%	0.18 %		%	1		bp
Net charge-offs	$	120		$	112		$	7		7 %	%

Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	10.6 %		%	11.2 %		%	(56)		bp
Tier 1	11.5			12.2			(70)
Total Capital	13.4			14.2			(89)
Tier 1 leverage	10.2 %		%	10.6 %		%	(45)		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 21.

Fourth Quarter 2025 versus Third Quarter 2025

Net interest income (FTE) increased $2 million to $679 million and net interest margin of 3.51% decreased 4 basis points. NII increase was driven by lower deposit pricing as well as growth in loans to mortgage company balances, which was partially offset by lower loan yields. Margin compression was driven by loan yields and the impact of the third quarter MSLP accretion, while also benefiting from deposit pricing.

Noninterest income decreased $3 million to $212 million, driven by mortgage fee decreases of $5 million following an MSR sale in the prior quarter and fluctuations in deferred compensation of $6 million, offset by growth in service charges of $7 million which included income related to our equipment finance lease business of $4.4 million.

Noninterest expense of $545 million decreased $6 million from the prior quarter. Fourth quarter notable items included $7 million of expense credit for the FDIC special assessment and a $10 million expense tied to Visa derivative valuation expenses. Adjusted noninterest expense of $541 million decreased $1 million. This includes outside services increases of $16 million related to technology, risk and product projects as well as seasonal advertising costs and increased incentives and commissions expenses of $8 million related to revenue performance. A reduction of $27 million in other noninterest expenses related to impacts from the prior quarter foundation contribution as well as client promotional payout reductions from earlier marketing campaigns.

Average loan and lease balances of $63.4 billion represented a $645 million increase compared to the prior quarter, while period-end balances were $64.2 billion, increasing $1.1 billion from third quarter 2025. Loans to mortgage companies (LMC) grew $776 million at period end, and other C&I balances increased by $727 million. Loan yields of 5.83% decreased 23 basis points driven by two Fed rate cuts, as over half of the loan portfolio is indexed to short term rates.

Average deposits of $66.5 billion increased $0.6 billion from third quarter 2025. Period-end deposits of $67.5 billion increased $2.0 billion, driven by a $2.2 billion increase in interest bearing deposits including a $392 million increase in brokered CDs partially offset by a $200 million decrease in DDA balances. Interest-bearing deposit cost of 2.53% decreased 25 basis points from the prior quarter, with a spot rate of approximately 2.34% at the end of the quarter.

There was no provision for credit losses expense in the quarter versus a $5 million credit in the previous quarter. Net charge-offs were $30 million or 19 basis points, up from $26 million or 17 basis points in prior quarter. Nonperforming loans of $604 million decreased $1 million. The ACL to loans ratio decreased from 1.38% in third quarter 2025 to 1.31%, driven by an 11% reduction in criticized and classified loans including payoffs of non-pass loans.

CET1 ratio of 10.64% was a 32 basis point decline from the third quarter 2025. Capital was deployed into loan growth and share repurchases totaling $335 million at an average price of $21.32 per share including commissions.

Fourth quarter 2025 effective and adjusted effective tax rates were 22.6% and 22.7%. Both the effective tax rate and adjusted effective tax rate for third quarter 2025 were 22.7%.


SUMMARY RESULTS
Quarterly, Unaudited

										4Q25 Change vs.
($s in millions, except per share and balance sheet data)	4Q25			3Q25			4Q24			3Q25					4Q24
										$/bp			%		$/bp			%
Income Statement
Interest income - taxable equivalent1	$	1,054		$	1,081		$	1,071		$	(27)		(2)%	%	$	(17)		(2)%	%
Interest expense- taxable equivalent1	375			403			438			(28)			(7)		(63)			(14)
Net interest income- taxable equivalent	679			678			634			2			—		46			7
Less: Taxable-equivalent adjustment	3			3			4			—			(3)		—			(7)
Net interest income	676			674			630			2			—		46			7
Noninterest income	212			215			99			(3)			(1)		113			115
Total revenue	888			889			729			(1)			—		159			22
Noninterest expense	545			551			508			(6)			(1)		36			7
Pre-provision net revenue3	343			339			220			5			1		123			56
Provision for credit losses	—			(5)			10			5			100		(10)			(100)
Income before income taxes	343			344			210			—			—		133			63
Provision for income taxes	78			78			41			—			—		37			91
Net income	266			266			170			—			—		96			57
Net income attributable to noncontrolling interest	4			4			4			—			(5)		—			(11)
Net income attributable to controlling interest	262			262			165			—			—		96			58
Preferred stock dividends	5			8			8			(3)			(34)		(3)			(34)
Net income available to common shareholders	$	257		$	254		$	158		$	3		1 %	%	$	99		63 %	%

Adjusted net income4	$	268		$	272		$	240		$	(4)		(1)%	%	$	28		12 %	%
Adjusted net income available to common shareholders4	$	259		$	263		$	228		$	(4)		(1)%	%	$	31		14 %	%
Common stock information
EPS	$	0.52		$	0.50		$	0.29		$	0.02		4 %	%	$	0.23		79 %	%
Adjusted EPS4	$	0.52		$	0.51		$	0.43		$	0.01		2 %	%	$	0.09		21 %	%


Diluted shares8	496			510			534			(14)			(3)%	%	(37)			(7)%	%
Key performance metrics
Net interest margin6	3.51 %		%	3.55 %		%	3.33 %		%	(4)		bp			18		bp

Efficiency ratio	61.33			61.92			61.98			(59)		bp			(65)		bp
Adjusted efficiency ratio4	60.73			60.76			61.43			(3)		bp			(70)		bp
Effective income tax rate	22.64			22.69			19.32			(5)		bp			332		bp
Return on average assets	1.27			1.29			0.82			(2)		bp			45		bp
Adjusted return on average assets4	1.28			1.32			1.17			(4)		bp			11		bp
Return on average common equity (“ROCE")	12.0			11.7			7.4			25		bp			461		bp

Return on average tangible common equity (“ROTCE”)4	14.8			14.5			9.2			33		bp			565		bp
Adjusted ROTCE4	15.0			15.0			13.3			(4)		bp			169		bp
Noninterest income as a % of total revenue	23.89			24.16			23.20			(27)		bp			69		bp
Adjusted noninterest income as a % of total revenue4	23.80 %		%	24.07 %		%	23.10 %		%	(27)		bp			70		bp
Balance Sheet (billions)
Average loans	$	63.4		$	62.8		$	62.4		$	0.6		1 %	%	$	1.0		2 %	%
Average deposits	66.5			65.9			66.1			0.6			1		0.5			1
Average assets	83.1			82.0			82.0			1.0			1		1.1			1
Average common equity	$	8.5		$	8.6		$	8.5		$	(0.1)		(1)%	%	$	—		— %	%
Asset Quality Highlights

Allowance for credit losses to loans and leases4	1.31 %		%	1.38 %		%	1.43 %		%	(7)		bp			(12)		bp

Nonperforming loan and leases ratio	0.94 %		%	0.96 %		%	0.96 %		%	(2)		bp			(2)		bp
Net charge-off ratio	0.19 %		%	0.17 %		%	0.08 %		%	2		bp			11		bp
Net charge-offs	$	30		$	26		$	13		$	4		15 %	%	$	17		NM
Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	10.6 %		%	11.0 %		%	11.2 %		%	(32)		bp			(56)		bp
Tier 1	11.5			11.9			12.2			(34)		bp			(70)		bp
Total Capital	13.4			13.8			14.2			(41)		bp			(89)		bp
Tier 1 leverage	10.2 %		%	10.5 %		%	10.6 %		%	(28)		bp			(45)		bp

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.

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 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 22.

Conference Call Information

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on January 15, 2026, by dialing 1-833-470-1428 (if calling from the U.S.) and entering access code 504514. 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 January 15 until midnight CT on January 29, 2026. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 950381. A replay of the webcast will also be available on our website on January 15 and will be archived on the site for one year.

First Horizon Corporation (NYSE: FHN), with $83.9 billion in assets as of December 31, 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

																4Q25 Change vs.														2025 vs 2024
($s in millions, except per share data)	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25				4Q24				2025			2024
																$		%		$		%								$		%
Interest income - taxable equivalent1	$	1,054		$	1,081		$	1,047		$	1,017		$	1,071		$	(27)	(2)%	%	$	(17)	(2)%	%	$	4,200		$	4,367		$	(167)	(4)%	%
Interest expense- taxable equivalent1	375			403			403			383			438			(28)		(7)		(63)		(14)		1,564			1,841			(277)		(15)
Net interest income- taxable equivalent	679			678			645			634			634			2		—		46		7		2,636			2,526			110		4
Less: Taxable-equivalent adjustment	3			3			4			3			4			—		(3)		—		(7)		14			16			(2)		(11)
Net interest income	676			674			641			631			630			2		—		46		7		2,622			2,511			112		4
Noninterest income:
Fixed income	57			57			42			49			49			—		—		8		16		206			187			18		10
Mortgage banking	10			15			10			8			8			(5)		(34)		3		34		43			35			8		22
Brokerage, trust, and insurance	41			39			39			38			41			2		5		1		1		157			154			3		2
Service charges and fees	64			57			55			52			53			7		11		11		22		229			227			2		1
Card and digital banking fees	18			19			19			18			19			—		—		(1)		(3)		74			77			(3)		(4)
Deferred compensation income9	3			8			8			(3)			1			(6)		(67)		1		107		16			19			(2)		(12)

Securities gains/(losses)	—			—			—			—			(91)			—		(67)		92		100		1			(89)			90		101
Other noninterest income	18			19			16			18			20			—		(2)		(2)		(8)		72			70			2		3
Total noninterest income	212			215			189			181			99			(3)		(1)		113		115		797			679			118		17
Total revenue	888			889			830			812			729			(1)		—		159		22		3,420			3,190			229		7
Noninterest expense:
Personnel expense:
Salaries and benefits	213			209			206			201			199			4		2		14		7		828			795			33		4
Incentives and commissions	87			79			73			81			76			8		10		12		15		320			323			(3)		(1)
Deferred compensation expense9	3			8			3			(3)			1			(5)		(62)		2		113		11			20			(9)		(44)
Total personnel expense	303			296			282			279			276			7		2		27		10		1,159			1,137			22		2
Occupancy and equipment2	83			80			79			78			76			3		3		6		8		320			293			27		9
Outside services	95			79			71			63			72			16		20		23		33		308			289			19		6
Amortization of intangible assets	9			9			10			10			11			—		—		(2)		(17)		38			44			(6)		(14)
Other noninterest expense	55			87			50			58			74			(32)		(37)		(18)		(25)		250			272			(22)		(8)
Total noninterest expense	545			551			491			488			508			(6)		(1)		36		7		2,074			2,035			39		2
Pre-provision net revenue3	343			339			339			325			220			5		1		123		56		1,346			1,155			190		16
Provision for credit losses	—			(5)			30			40			10			5		100		(10)		(100)		65			150			(85)		(57)
Income before income taxes	343			344			309			285			210			—		—		133		63		1,281			1,005			275		27
Provision for income taxes	78			78			64			63			41			—		—		37		91		282			211			71		34
Net income	266			266			244			222			170			—		—		96		57		998			794			204		26
Net income attributable to noncontrolling interest	4			4			4			4			4			—		(5)		—		(11)		16			19			(3)		(15)
Net income attributable to controlling interest	262			262			240			218			165			—		—		96		58		982			775			207		27
Preferred stock dividends	5			8			8			5			8			(3)		(34)		(3)		(34)		26			36			(10)		(29)
Net income available to common shareholders	$	257		$	254		$	233		$	213		$	158		$	3	1 %	%	$	99	63 %	%	$	956		$	738		$	218	29 %	%
Common Share Data
EPS	$	0.52		$	0.50		$	0.46		$	0.41		$	0.30		$	0.02	4 %	%	$	0.22	73 %	%	$	1.89		$	1.37		$	0.53	39 %	%
Basic shares	491			505			508			517			528			(14)		(3)		(38)		(7)		505			540			(35)		(7)
Diluted EPS	$	0.52		$	0.50		$	0.45		$	0.41		$	0.29		$	0.02	4		$	0.23	79		$	1.87		$	1.36		$	0.51	38
Diluted shares8	496			510			514			523			534			(14)		(3)%	%	(37)		(7)%	%	511			544			(33)		(6)%	%

Effective tax rate	22.6 %		%	22.7 %		%	20.8 %		%	22.0 %		%	19.3 %		%									22.1 %		%	21.0 %		%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


ADJUSTED4 FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 10
Quarterly, Unaudited


																4Q25 Change vs.														2025 vs 2024
($s in millions, except per share data)	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25				4Q24				2025			2024
																$		%		$		%								$		%


Net interest income (FTE)1	$	679		$	678		$	645		$	634		$	634		$	2	— %	%	$	46	7 %	%	$	2,636		$	2,526		$	110	4 %	%
Adjusted noninterest income:
Fixed income	57			57			42			49			49			—		—		8		16		206			187			18		10
Mortgage banking	10			15			10			8			8			(5)		(34)		3		34		43			35			8		22
Brokerage, trust, and insurance	41			39			39			38			41			2		5		1		1		157			154			3		2
Service charges and fees	64			57			55			52			53			7		11		11		22		229			227			2		1
Card and digital banking fees	18			19			19			18			19			—		—		(1)		(3)		74			77			(3)		(4)
Deferred compensation income9	3			8			8			(3)			1			(6)		(67)		1		107		16			19			(2)		(12)

Adjusted securities gains/(losses)	—			—			—			—			—			—		(67)		—		NM		1			2			(2)		(68)
Adjusted other noninterest income	18			19			16			18			20			—		(2)		(2)		(8)		72			70			2		3
Adjusted total noninterest income	$	212		$	215		$	189		$	181		$	190		$	(3)	(1)%	%	$	22	12 %	%	$	797		$	771		$	26	3 %	%
Total revenue (FTE)1	$	892		$	893		$	833		$	816		$	824		$	(1)	— %	%	$	68	8 %	%	$	3,434		$	3,297		$	136	4 %	%

Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits	$	213		$	209		$	206		$	201		$	199		$	4	2 %	%	$	14	7 %	%	$	828		$	795		$	33	4 %	%
Adjusted Incentives and commissions	87			79			73			81			73			8		10		14		19		320			314			5		2
Deferred compensation expense9	3			8			7			(3)			1			(5)		(62)		2		113		14			20			(5)		(26)
Adjusted total personnel expense	303			296			286			279			274			7		2		29		11		1,163			1,129			34		3
Adjusted occupancy and equipment2	83			80			79			78			76			3		3		6		8		320			293			27		9
Adjusted outside services	95			79			71			63			71			16		20		24		34		308			285			23		8
Amortization of intangible assets	9			9			10			10			11			—		—		(2)		(17)		38			44			(6)		(14)
Adjusted other noninterest expense	52			79			50			52			74			(27)		(34)		(23)		(30)		233			248			(15)		(6)
Adjusted total noninterest expense	$	541		$	542		$	495		$	482		$	506		$	(1)	— %	%	$	35	7 %	%	$	2,061		$	1,998		$	63	3 %	%

Adjusted pre-provision net revenue4	$	350		$	351		$	338		$	334		$	318		$	—	— %	%	$	32	10 %	%	$	1,372		$	1,299		$	73	6 %	%

Provision for credit losses	$	—		$	(5)		$	30		$	40		$	10		$	5	100 %	%	$	(10)	(100)%	%	$	65		$	150		$	(85)	(57)%	%







Adjusted net income available to common shareholders	$	259		$	263		$	229		$	217		$	228		$	(4)	(1)%	%	$	31	14 %	%	$	968		$	843		$	126	15 %	%

Adjusted Common Share Data


Adjusted diluted EPS	$	0.52		$	0.51		$	0.45		$	0.42		$	0.43		$	0.01	2 %	%	$	0.09	21 %	%	$	1.89		$	1.55		$	0.34	22 %	%
Diluted shares8	496			510			514			523			534			(14)		(3)%	%	(37)		(7)%	%	511			544			(33)		(6)%	%

Adjusted effective tax rate	22.7 %		%	22.7 %		%	20.8 %		%	22.0 %		%	21.0 %		%									22.1 %		%	21.4 %		%
Adjusted ROTCE4	15.0 %		%	15.0 %		%	13.6 %		%	13.1 %		%	13.3 %		%									14.2 %		%	12.5 %		%
Adjusted efficiency ratio4	60.7 %		%	60.8 %		%	59.5 %		%	59.1 %		%	61.4 %		%									60.0 %		%	60.6 %		%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


NOTABLE ITEMS
Quarterly, Unaudited


(In millions)	4Q25		3Q25		2Q25		1Q25		4Q24		2025		2024
Summary of Notable Items:


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



Deferred compensation adjustment	—		—		4		—		—		4		—
FDIC special assessment (other noninterest expense)	7		2		1		(1)		1		9		(9)
Other notable expenses *	(10)		(10)		—		(5)		(3)		(25)		(29)
Total notable items (pre-tax)	$	(3)	$	(8)	$	4	$	(6)	$	(94)	$	(13)	$	(129)
Tax-related notable items	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Preferred Stock Dividend **	$	—	$	(3)	$	—	$	—	$	—	$	(3)	$	(7)

Numbers may not total due to rounding.

* 4Q24 includes $3 million of restructuring expenses; 4Q25 and 3Q25 each include $10 million of Visa derivative valuation expenses and 1Q25 includes $5 million. 2025 includes $25 million in Visa derivative valuation expenses. 2024 includes $14 million of restructuring expenses and $15 million in Visa derivative valuation expenses.

** 3Q25 and 2025 includes $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock; 2024 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock.


IMPACT OF NOTABLE ITEMS:
Quarterly, Unaudited



($s in millions, except per share data)	4Q25		3Q25		2Q25		1Q25		4Q24		2025		2024
Impacts of Notable Items:



Noninterest income:







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

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


Noninterest expense:
Personnel expenses:

Incentives and commissions	$	—	$	—	$	—	$	—	$	(2)	$	—	$	(8)
Deferred compensation expense	—		—		4		—		—		4		—
Total personnel expenses	—		—		4		—		(2)		4		(9)

Outside services	—		—		—		—		(1)		—		(5)

Other noninterest expense	(3)		(8)		1		(6)		1		(16)		(24)
Total noninterest expense	$	(3)	$	(8)	$	4	$	(6)	$	(2)	$	(13)	$	(37)


Income before income taxes	$	3	$	8	$	(4)	$	6	$	94	13		$	129
Provision for income taxes	1		2		(1)		1		23		3		32
Preferred stock dividends *	—		(3)		—		—		—		(3)		(7)
Net income/(loss) available to common shareholders	$	2	$	9	$	(3)	$	4	$	71	$	12	$	105
EPS impact of notable items	$	—	$	0.01	$	—	$	0.01	$	0.13	$	0.02	$	0.19

Numbers may not total due to rounding.

* 3Q25 and 2025 include $3 million deemed dividends on the redemption of $80 million par value of Series B Preferred Stock; 2024 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock.


FINANCIAL RATIOS
Quarterly, Unaudited
																4Q25 Change vs.																2025 vs.2024
	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25					4Q24					2025			2024
FINANCIAL RATIOS																$/bp			%		$/bp			%								$/bp			%
Net interest margin6	3.51 %		%	3.55 %		%	3.40 %		%	3.42 %		%	3.33 %		%	(4)		bp			18		bp			3.47 %		%	3.35 %		%	12		bp

Return on average assets	1.27 %		%	1.29 %		%	1.20 %		%	1.11 %		%	0.82 %		%	(2)		bp			45		bp			1.22 %		%	0.97 %		%	25
Adjusted return on average assets4	1.28 %		%	1.32 %		%	1.18 %		%	1.14 %		%	1.17 %		%	(4)		bp			11		bp			1.23 %		%	1.09 %		%	14
Return on average common equity (“ROCE”)	11.99 %		%	11.74 %		%	11.14 %		%	10.30 %		%	7.38 %		%	25		bp			461		bp			11.30 %		%	8.80 %		%	250

Return on average tangible common equity (“ROTCE”)4	14.82 %		%	14.49 %		%	13.85 %		%	12.81 %		%	9.17 %		%	33		bp			565		bp			14.01 %		%	10.99 %		%	302
Adjusted ROTCE4	14.96 %		%	15.00 %		%	13.65 %		%	13.08 %		%	13.27 %		%	(4)		bp			169		bp			14.18 %		%	12.51 %		%	167
Noninterest income as a % of total revenue	23.89 %		%	24.16 %		%	22.73 %		%	22.29 %		%	23.20 %		%	(27)		bp			69		bp			23.30 %		%	23.44 %		%	(14)
Adjusted noninterest income as a % of total revenue4	23.80 %		%	24.07 %		%	22.63 %		%	22.20 %		%	23.10 %		%	(27)		bp			70		bp			23.21 %		%	23.33 %		%	(12)
Efficiency ratio	61.33 %		%	61.92 %		%	59.20 %		%	60.06 %		%	61.98 %		%	(59)		bp			(65)		bp			60.66 %		%	62.06 %		%	(140)
Adjusted efficiency ratio4	60.73 %		%	60.76 %		%	59.47 %		%	59.09 %		%	61.43 %		%	(3)		bp			(70)		bp			60.04 %		%	60.64 %		%	(60)
Allowance for credit losses to loans and leases4	1.31 %		%	1.38 %		%	1.42 %		%	1.45 %		%	1.43 %		%	(7)		bp			(12)		bp			1.31 %		%	1.43 %		%	(12)

CAPITAL DATA
CET1 capital ratio*	10.6 %		%	11.0 %		%	11.0 %		%	10.9 %		%	11.2 %		%	(32)		bp			(56)		bp			10.6 %		%	11.2 %		%	(56)		bp
Tier 1 capital ratio*	11.5 %		%	11.9 %		%	12.0 %		%	11.9 %		%	12.2 %		%	(34)		bp			(70)		bp			11.5 %		%	12.2 %		%	(70)		bp
Total capital ratio*	13.4 %		%	13.8 %		%	14.0 %		%	14.1 %		%	14.2 %		%	(41)		bp			(89)		bp			13.4 %		%	14.2 %		%	(89)		bp
Tier 1 leverage ratio*	10.2 %		%	10.5 %		%	10.6 %		%	10.5 %		%	10.6 %		%	(28)		bp			(45)		bp			10.2 %		%	10.6 %		%	(45)		bp
Risk-weighted assets (“RWA”) (billions)*	$	72.9		$	72.0		$	71.7		$	70.8		$	71.1		$	0.9		1 %	%	$	1.8		3 %	%	$	72.9		$	71.1		$	1.8		3 %	%
Total equity to total assets	10.90 %		%	11.11 %		%	11.28 %		%	11.10 %		%	11.09 %		%	(21)		bp			(19)		bp			10.90 %		%	11.09 %		%	(19)		bp
Tangible common equity/tangible assets (“TCE/TA”)4	8.37 %		%	8.55 %		%	8.58 %		%	8.37 %		%	8.37 %		%	(18)		bp			—		bp			8.37 %		%	8.37 %		%	—		bp
Period-end shares outstanding (millions)8	485			500			509			507			524			(16)			(3)%	%	(39)			(8)%	%	485			524			(39)			(8)%	%
Cash dividends declared per common share	$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	—		— %	%	$	—		— %	%	$	0.60		$	0.60		$	—		— %	%
Book value per common share	$	17.53		$	17.19		$	16.78		$	16.40		$	16.00		$	0.34		2 %	%	$	1.53		10 %	%	$	17.53		$	16.00		$	1.53		10 %	%
Tangible book value per common share4	$	14.20		$	13.94		$	13.57		$	13.17		$	12.85		$	0.26		2 %	%	$	1.35		11 %	%	$	14.20		$	12.85		$	1.35		11 %	%


SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)	95.08		%	96.23		%	96.47		%	96.90		%	95.40		%	(115)		bp			(32)		bp			95.08		%	95.40		%	(32)		bp
Loans-to-deposit ratio (average balances)	95.33		%	95.24		%	96.62		%	95.57		%	94.44		%	9		bp			89		bp			95.68		%	94.41		%	127		bp
Full-time equivalent associates	7,373			7,341			7,255			7,190			7,158			32			— %	%	215			3 %	%	7,290			7,242			48			1 %	%

*Current quarter is an estimate.

See footnote disclosures on page 21 and glossary of terms on page 27.

CONSOLIDATED PERIOD-END BALANCE SHEET

Quarterly, Unaudited


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

Loans and leases:
Commercial, financial, and industrial (C&I)	$	35,905	$	34,401	$	34,359	$	33,354	$	33,428	$	1,504	4 %	%	$	2,477	7 %	%
Commercial real estate	13,563		13,674		13,936		14,139		14,421		(111)		(1)		(858)		(6)
Total Commercial	49,468		48,076		48,295		47,493		47,849		1,392		3		1,619		3
Consumer real estate	14,107		14,403		14,368		14,089		14,047		(296)		(2)		61		—
Credit card and other5	580		579		597		633		670		2		—		(89)		(13)
Total Consumer	14,688		14,982		14,965		14,722		14,716		(294)		(2)		(29)		—
Loans and leases, net of unearned income	64,156		63,058		63,260		62,215		62,565		1,098		2		1,590		3
Loans held for sale	406		501		402		510		551		(95)		(19)		(144)		(26)
Investment securities	9,382		9,332		9,362		9,333		9,166		50		1		215		2
Trading securities	1,904		2,070		1,430		1,376		1,387		(167)		(8)		517		37
Interest-bearing deposits with banks	1,125		1,228		911		1,164		1,538		(103)		(8)		(413)		(27)
Federal funds sold and securities purchased under agreements to resell	634		774		527		728		631		(141)		(18)		2		—
Total interest earning assets	77,606		76,963		75,893		75,326		75,838		643		1		1,768		2
Cash and due from banks	961		912		988		915		906		48		5		55		6
Goodwill and other intangible assets, net	1,615		1,624		1,633		1,643		1,653		(9)		(1)		(38)		(2)
Premises and equipment, net	544		553		561		569		574		(9)		(2)		(30)		(5)
Allowance for loan and lease losses	(738)		(777)		(814)		(822)		(815)		38		5		77		9
Other assets	3,889		3,916		3,823		3,861		3,996		(28)		(1)		(108)		(3)
Total assets	$	83,876	$	83,192	$	82,084	$	81,491	$	82,152	$	684	1 %	%	$	1,725	2 %	%

Liabilities and Shareholders' Equity:
Deposits:
Savings	$	26,010	$	26,365	$	25,939	$	26,242	$	26,695	$	(354)	(1)%	%	$	(685)	(3)%	%
Time deposits	6,485		6,201		7,270		5,918		6,613		284		5		(128)		(2)
Other interest-bearing deposits	19,158		16,936		16,477		16,213		16,252		2,222		13		2,906		18
Total interest-bearing deposits	51,653		49,502		49,685		48,373		49,560		2,151		4		2,093		4
Trading liabilities	607		662		469		670		550		(55)		(8)		57		10
Federal funds purchased and securities sold under agreements to repurchase	3,012		2,675		3,201		2,572		2,355		337		13		658		28
Short-term borrowings	241		1,596		260		1,223		1,045		(1,355)		(85)		(804)		(77)
Term borrowings	1,321		1,328		1,342		1,691		1,195		(7)		(1)		126		11
Total interest-bearing liabilities	56,835		55,763		54,957		54,529		54,705		1,072		2		2,130		4
Noninterest-bearing deposits	15,823		16,023		15,892		15,835		16,021		(200)		(1)		(198)		(1)
Other liabilities	2,076		2,163		1,978		2,084		2,315		(86)		(4)		(238)		(10)
Total liabilities	74,734		73,948		72,826		72,447		73,041		786		1		1,694		2
Shareholders' Equity:
Preferred stock	349		349		426		426		426		—		—		(77)		(18)
Common stock	303		313		318		317		328		(10)		(3)		(25)		(8)
Capital surplus	3,974		4,288		4,459		4,472		4,809		(314)		(7)		(835)		(17)
Retained earnings	5,030		4,848		4,671		4,516		4,382		183		4		649		15
Accumulated other comprehensive loss, net	(809)		(849)		(912)		(983)		(1,128)		39		5		319		28
Combined shareholders' equity	8,847		8,949		8,962		8,749		8,816		(102)		(1)		31		—
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,142		9,244		9,257		9,044		9,111		(102)		(1)		31		—
Total liabilities and shareholders' equity	$	83,876	$	83,192	$	82,084	$	81,491	$	82,152	$	684	1 %	%	$	1,725	2 %	%
Memo:
Total deposits	$	67,477	$	65,525	$	65,576	$	64,208	$	65,581	$	1,952	3 %	%	$	1,896	3 %	%
Loans to mortgage companies	$	4,703	$	3,926	$	4,058	$	3,369	$	3,471	$	776	20 %	%	$	1,232	36 %	%
Unfunded Loan Commitments:
Commercial	$	18,644	$	18,485	$	17,784	$	17,974	$	17,863	$	158	1 %	%	$	781	4 %	%
Consumer	$	4,002	$	4,036	$	4,153	$	4,190	$	4,203	$	(34)	(1)%	%	$	(201)	(5)%	%

Numbers may not total due to rounding. See footnote disclosures on page 21 and glossary of terms on page 27.

CONSOLIDATED AVERAGE BALANCE SHEET

Quarterly, Unaudited


											4Q25 Change vs.
(In millions)	4Q25		3Q25		2Q25		1Q25		4Q24		3Q25				4Q24				2025		2024		2025 vs 2024
Assets:											$		%		$		%						$		%
Loans and leases:
Commercial, financial, and industrial (C&I)	$	35,005	$	34,011	$	33,634	$	32,632	$	33,107	$	993	3 %	%	$	1,897	6 %	%	$	33,831	$	32,871	$	960	3 %	%
Commercial real estate	13,587		13,772		14,070		14,318		14,601		(186)		(1)		(1,014)		(7)		13,931		14,558		(626)		(4)
Total Commercial	48,591		47,784		47,704		46,951		47,709		807		2		883		2		47,762		47,429		334		1
Consumer real estate	14,255		14,409		14,224		14,046		14,008		(154)		(1)		247		2		14,235		13,836		398		3
Credit card and other5	586		594		623		649		701		(8)		(1)		(115)		(16)		613		740		(128)		(17)
Total Consumer	14,841		15,004		14,847		14,694		14,709		(162)		(1)		132		1		14,847		14,577		271		2
Loans and leases, net of unearned income	63,432		62,787		62,551		61,645		62,418		645		1		1,015		2		62,610		62,005		604		1
Loans held-for-sale	515		454		501		519		482		60		13		32		7		497		472		25		5
Investment securities	9,321		9,321		9,330		9,209		9,295		—		—		26		—		9,295		9,386		(91)		(1)
Trading securities	1,798		1,625		1,609		1,442		1,515		173		11		283		19		1,619		1,399		220		16
Interest-bearing deposits with banks	1,218		1,272		1,259		1,265		1,438		(53)		(4)		(220)		(15)		1,254		1,605		(352)		(22)
Federal funds sold and securities purchased under agreements to resell	743		573		636		713		594		170		30		149		25		666		605		61		10
Total interest earning assets	77,027		76,032		75,887		74,793		75,742		994		1		1,285		2		75,941		75,473		468		1
Cash and due from banks	900		860		864		886		911		40		5		(10)		(1)		878		917		(39)		(4)
Goodwill and other intangible assets, net	1,619		1,628		1,638		1,648		1,658		(9)		(1)		(39)		(2)		1,633		1,674		(41)		(2)
Premises and equipment, net	548		556		565		570		571		(8)		(1)		(23)		(4)		560		580		(20)		(4)
Allowances for loan and lease losses	(774)		(809)		(828)		(827)		(821)		36		4		47		6		(809)		(812)		2		—
Other assets	3,760		3,781		3,831		3,896		3,889		(21)		(1)		(129)		(3)		3,817		3,989		(173)		(4)
Total assets	$	83,081	$	82,049	$	81,958	$	80,965	$	81,950	$	1,032	1 %	%	$	1,131	1 %	%	$	82,019	$	81,822	$	197	— %	%

Liabilities and shareholders' equity:
Deposits:
Savings	$	26,693	$	26,326	$	25,899	$	26,544	$	26,836	$	368	1 %	%	$	(143)	(1)%	%	$	26,366	$	25,941	$	425	2 %	%
Time deposits	6,205		6,871		6,630		6,329		7,407		(667)		(10)		(1,202)		(16)		6,509		7,224		(715)		(10)
Other interest-bearing deposits	17,573		16,866		16,362		16,096		15,726		707		4		1,847		12		16,729		16,215		514		3
Total interest-bearing deposits	50,470		50,063		48,891		48,970		49,969		408		1		502		1		49,604		49,379		224		—
Trading liabilities	722		549		613		692		578		173		32		144		25		644		555		88		16
Federal funds purchased and securities sold under agreements to repurchase	2,807		2,631		2,692		2,479		2,205		176		7		603		27		2,653		2,140		513		24
Short-term borrowings	470		387		1,208		681		441		83		21		29		7		685		781		(96)		(12)
Term borrowings	1,323		1,335		1,556		1,332		1,206		(13)		(1)		117		10		1,386		1,180		206		17
Total interest-bearing liabilities	55,792		54,965		54,960		54,154		54,398		827		2		1,394		3		54,972		54,036		937		2
Noninterest-bearing deposits	16,072		15,862		15,851		15,535		16,123		210		1		(52)		—		15,831		16,297		(466)		(3)
Other liabilities	2,082		1,999		2,050		2,165		2,213		83		4		(132)		(6)		2,073		2,353		(280)		(12)
Total liabilities	73,946		72,825		72,861		71,854		72,735		1,120		2		1,211		2		72,877		72,686		191		—
Shareholders' Equity:
Preferred stock	349		350		426		426		426		(1)		—		(77)		(18)		388		450		(62)		(14)
Common stock	307		316		318		323		330		(9)		(3)		(24)		(7)		316		338		(22)		(7)
Capital surplus	4,095		4,379		4,464		4,664		4,881		(284)		(6)		(786)		(16)		4,399		5,070		(671)		(13)
Retained earnings	4,910		4,798		4,562		4,468		4,382		112		2		528		12		4,686		4,197		489		12
Accumulated other comprehensive loss, net	(821)		(913)		(967)		(1,066)		(1,099)		93		10		278		25		(941)		(1,213)		272		22
Combined shareholders' equity	8,840		8,928		8,802		8,816		8,920		(88)		(1)		(80)		(1)		8,847		8,841		6		—
Noncontrolling interest	295		295		295		295		295		—		—		—		—		295		295		—		—
Total shareholders' equity	9,135		9,224		9,097		9,111		9,216		(88)		(1)		(80)		(1)		9,142		9,136		6		—
Total liabilities and shareholders' equity	$	83,081	$	82,049	$	81,958	$	80,965	$	81,950	$	1,032	1 %	%	$	1,131	1 %	%	$	82,019	$	81,822	$	197	— %	%
Memo:
Total deposits	$	66,542	$	65,924	$	64,742	$	64,504	$	66,092	$	618	1 %	%	$	450	1 %	%	$	65,435	$	65,676	$	(241)	— %	%
Loans to mortgage companies	$	4,160	$	3,628	$	3,533	$	2,819	$	3,283	$	531	15 %	%	$	877	27 %	%	$	3,539	$	2,614	$	925	35 %	%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES
Quarterly, Unaudited
																					4Q25 Change vs.																		2025 vs 2024
	4Q25				3Q25				2Q25				1Q25				4Q24				3Q25					4Q24					2025				2024
(In millions, except rates)	Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense					Income/Expense					Income/Expense		Rate		Income/Expense		Rate		Income/Expense
																					$/bp			%		$/bp			%										$			%
Interest earning assets/Interest income:
Loans and leases, net of unearned income:


Commercial	$	743	6.07 %	%	$	767	6.37 %	%	$	738	6.21 %	%	$	715	6.18 %	%	$	771	6.43 %	%	$	(24)		(3)%	%	$	(28)		(4)%	%	$	2,964	6.21 %	%	$	3,166	6.68 %	%	$	(203)		(6)%	%


Consumer	187		5.02		191		5.07		186		4.99		182		4.96		183		4.97		(4)			(2)		4			2		745		5.01		720		4.93		25			3
Loans and leases, net of unearned income	930		5.83		957		6.06		924		5.92		897		5.89		954		6.09		(27)			(3)		(24)			(3)		3,709		5.92		3,886		6.27		(178)			(5)
Loans held-for-sale	8		6.45		8		6.86		8		6.76		9		7.09		9		7.38		1			7		(1)			(7)		34		6.79		36		7.61		(2)			(6)
Investment securities	71		3.06		72		3.09		71		3.06		69		3.02		62		2.69		(1)			(1)		9			14		284		3.06		244		2.60		41			17
Trading securities	25		5.57		24		5.81		23		5.72		20		5.57		22		5.74		1			6		3			15		92		5.66		86		6.12		6			7
Interest-bearing deposits with banks	12		3.97		14		4.41		14		4.45		14		4.44		17		4.77		(2)			(14)		(5)			(29)		54		4.32		85		5.29		(31)			(36)
Federal funds sold and securities purchased under agreements	7		3.86		6		4.20		7		4.24		7		4.24		7		4.46		1			19		1			9		27		4.13		31		5.05		(3)			(10)
Interest income	$	1,054	5.44 %	%	$	1,081	5.65 %	%	$	1,047	5.53 %	%	$	1,017	5.50 %	%	$	1,071	5.63 %	%	$	(27)		(2)%	%	$	(17)		(2)%	%	$	4,200	5.53		$	4,367	5.79		$	(167)		(4)%	%

Interest bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings	$	169	2.51 %	%	$	184	2.78 %	%	$	177	2.73 %	%	$	175	2.67 %	%	$	210	3.11 %	%	$	(16)		(8)%	%	$	(41)		(20)%	%	$	704	2.67 %	%	$	849	3.27 %	%	$	(145)		(17)%	%
Time deposits	55		3.49		64		3.71		64		3.88		62		4.00		81		4.35		(10)			(15)		(26)			(33)		245		3.77		323		4.47		(78)			(24)
Other interest-bearing deposits	98		2.22		102		2.41		96		2.36		92		2.31		99		2.49		(4)			(4)		—			—		389		2.32		449		2.77		(60)			(13)
Total interest-bearing deposits	322		2.53		351		2.78		337		2.76		329		2.72		389		3.10		(29)			(8)		(68)			(17)		1,338		2.70		1,620		3.28		(282)			(17)
Trading liabilities	7		3.76		5		3.93		6		4.07		7		4.29		6		4.01		1			26		1			18		26		4.01		23		4.22		2			10
Federal funds purchased and securities sold under agreements to repurchase	23		3.21		23		3.52		24		3.61		21		3.47		21		3.72		(1)			(3)		2			10		92		3.45		88		4.13		3			4
Short-term borrowings	5		4.08		4		4.39		13		4.47		7		4.40		5		4.75		1			13		—			(8)		30		4.37		42		5.38		(12)			(29)
Term borrowings	19		5.76		19		5.82		22		5.60		18		5.41		17		5.52		—			(2)		2			14		78		5.65		66		5.63		12			18
Interest expense	375		2.67		403		2.91		403		2.94		383		2.87		438		3.20		(28)			(7)		(63)			(14)		1,564		2.84		1,841		3.41		(277)			(15)
Net interest income - tax equivalent basis	679		2.77		678		2.74		645		2.59		634		2.63		634		2.43		2			—		46			7		2,636		2.69		2,526		2.38		110			4
Fully taxable equivalent adjustment	(3)		0.74		(3)		0.81		(4)		0.81		(3)		0.79		(4)		0.90		—			3		—			7		(14)		0.78		(16)		0.97		2			11
Net interest income	$	676	3.51 %	%	$	674	3.55 %	%	$	641	3.40 %	%	$	631	3.42 %	%	$	630	3.33 %	%	$	2		— %	%	$	46		7 %	%	$	2,622	3.47 %	%	$	2,511	3.35 %	%	$	112		4 %	%

Memo:
Total loan yield			5.83 %	%			6.06 %	%			5.92 %	%			5.89 %	%			6.09 %	%	(23)		bp			(26)		bp					5.92 %	%			6.27 %	%	(35)		bp
Total deposit cost			1.92 %	%			2.11 %	%			2.09 %	%			2.07 %	%			2.34 %	%	(19)		bp			(42)		bp					2.05 %	%			2.47 %	%	(42)		bp
Total funding cost			2.07 %	%			2.26 %	%			2.28 %	%			2.23 %	%			2.47 %	%	(19)		bp			(40)		bp					2.21 %	%			2.62 %	%	(41)		bp
Average loans and leases, net of unearned income	$	63,432			$	62,787			$	62,551			$	61,645			$	62,418			$	645		1 %	%	$	1,015		2 %	%	$	62,610			$	62,005			$	604		1 %	%
Average deposits	66,542				65,924				64,742				64,504				66,092				618			1 %	%	450			1 %	%	65,435				65,676				(241)			— %	%
Average funded liabilities	71,864				70,827				70,811				69,689				70,521				$	1,037		1 %	%	$	1,343		2 %	%	70,804				70,333				$	471		1 %	%

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 21 and glossary of terms on page 27.


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

	As of															4Q25 change vs.
(In millions, except ratio data)	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25				4Q24
																$		%		$		%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)	$	224		$	211		$	224		$	195		$	173		$	13	6 %	%	$	50	29 %	%
Commercial real estate	239			254			236			284			294			(15)		(6)		(55)		(19)
Consumer real estate	140			139			131			129			133			1		1		7		6
Credit card and other5	1			1			1			1			2			—		(34)		(1)		(38)
Total nonperforming loans and leases	$	604		$	605		$	593		$	609		$	602		$	(1)	— %	%	$	2	— %	%

Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)	0.62 %		%	0.61 %		%	0.65 %		%	0.58 %		%	0.52 %		%
Commercial real estate	1.76			1.86			1.70			2.01			2.04
Consumer real estate	0.99			0.96			0.91			0.92			0.95
Credit card and other5	0.16			0.25			0.21			0.19			0.23
Total nonperforming loans and leases to loans and leases	0.94 %		%	0.96 %		%	0.94 %		%	0.98 %		%	0.96 %		%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


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

	As of										4Q25 change vs.
(In millions)	4Q25		3Q25		2Q25		1Q25		4Q24		3Q25				4Q24
											$		%		$		%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)	$	1	$	1	$	1	$	1	$	1	$	1	NM		$	1	NM
Commercial real estate	—		—		—		—		—		—		NM		—		NM
Consumer real estate	6		6		6		7		19		—		(4)		(14)		(71)
Credit card and other5	1		2		1		—		1		(1)		(44)		—		(22)
Total loans and leases 90 days or more past due and accruing	$	8	$	9	$	8	$	8	$	21	$	—	(5)%	%	$	(13)	(62)%	%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)
Quarterly, Unaudited

	As of															4Q25 change vs.
(In millions, except ratio data)	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25				4Q24
Charge-off, Recoveries and Related Ratios																$		%		$		%
Gross Charge-offs
Commercial, financial, and industrial (C&I)	$	39		$	25		$	28		$	34		$	13		$	14	58 %	%	$	27	NM
Commercial real estate	2			3			8			3			9			(2)		(56)		(8)		(84)
Consumer real estate	1			1			2			—			1			1		70		1		93
Credit card and other5	4			6			6			4			6			(2)		(32)		(2)		(29)
Total gross charge-offs	$	47		$	36		$	43		$	41		$	29		$	11	31 %	%	$	18	63 %	%
Gross Recoveries
Commercial, financial, and industrial (C&I)	$	(13)		$	(6)		$	(6)		$	(6)		$	(12)		$	(7)	NM		$	(2)	(13)%	%
Commercial real estate	—			—			—			(3)			—			—		NM		—		NM
Consumer real estate	(2)			(1)			(2)			(1)			(2)			(1)		(43)		—		11
Credit card and other5	(1)			(1)			(2)			(1)			(1)			—		14		—		20
Total gross recoveries	$	(16)		$	(9)		$	(9)		$	(12)		$	(15)		$	(7)	(79)%	%	$	(1)	(6)%	%
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I)	$	26		$	19		$	22		$	28		$	1		$	8	41 %	%	$	25	NM
Commercial real estate	2			3			8			(1)			9			(2)		(53)		(8)		(83)
Consumer real estate	(1)			(1)			—			(1)			(2)			—		(8)		1		58
Credit card and other5	3			5			4			3			5			(2)		(36)		(1)		(31)
Total net charge-offs	$	30		$	26		$	34		$	29		$	13		$	4	15 %	%	$	17	NM

Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I)	0.30 %		%	0.22 %		%	0.26 %		%	0.35 %		%	0.01 %		%
Commercial real estate	0.04			0.09			0.22			(0.02)			0.25
Consumer real estate	(0.02)			(0.02)			—			(0.02)			(0.05)
Credit card and other5	2.31			3.54			2.64			1.60			2.78
Total loans and leases	0.19 %		%	0.17 %		%	0.22 %		%	0.19 %		%	0.08 %		%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


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

	As of										4Q25 Change vs.
(In millions)	4Q25		3Q25		2Q25		1Q25		4Q24		3Q25				4Q24
Summary of Changes in the Components of the Allowance For Credit Losses											$		%		$		%
Allowance for loan and lease losses - beginning	$	777	$	814	$	822	$	815	$	823	$	(37)	(5)%	%	$	(46)	(6)%	%













Charge-offs:
Commercial, financial, and industrial (C&I)	(39)		(25)		(28)		(34)		(13)		(14)		(58)		(27)		NM
Commercial real estate	(2)		(3)		(8)		(3)		(9)		2		56		8		84
Consumer real estate	(1)		(1)		(2)		—		(1)		(1)		(70)		(1)		(93)
Credit card and other5	(4)		(6)		(6)		(4)		(6)		2		32		2		29
Total charge-offs	(47)		(36)		(43)		(41)		(29)		(11)		(31)		(18)		(63)
Recoveries:
Commercial, financial, and industrial (C&I)	13		6		6		6		12		7		NM		2		13
Commercial real estate	—		—		—		3		—		—		NM		—		NM
Consumer real estate	2		1		2		1		2		1		43		—		(11)
Credit card and other5	1		1		2		1		1		—		(14)		—		(20)
Total Recoveries	16		9		9		12		15		7		79		1		6
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I)	28		5		23		28		(5)		23		NM		33		NM
Commercial real estate	(26)		(5)		(5)		(2)		18		(21)		NM		(44)		NM
Consumer real estate	(13)		(15)		4		8		(10)		2		14		(3)		(27)
Credit card and other5	3		4		3		2		4		(1)		(19)		—		(5)
Total provision for loan and lease losses:	(8)		(11)		26		36		6		3		27		(14)		NM
Allowance for loan and lease losses - ending	$	738	$	777	$	814	$	822	$	815	$	(38)	(5)%	%	$	(77)	(9)%	%

Reserve for unfunded commitments - beginning	$	93	$	87	$	83	$	79	$	75	$	6	7 %	%	$	18	24 %	%


Provision for unfunded commitments	8		6		4		4		4		2		33		4		NM
Reserve for unfunded commitments - ending	$	101	$	93	$	87	$	83	$	79	$	8	9 %	%	$	22	28 %	%
Total allowance for credit losses- ending	$	839	$	870	$	901	$	905	$	894	$	(30)	(3)%	%	$	(55)	(6)%	%

Numbers may not total due to rounding.

See footnote disclosures on page 21 and glossary of terms on page 27.


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

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

Allowance for loans and lease losses to loans and leases
Commercial, financial, and industrial (C&I)	0.93 %	%	0.97 %	%	1.01 %	%	1.04 %	%	1.03 %	%
Commercial real estate	1.30 %	%	1.49 %	%	1.53 %	%	1.59 %	%	1.57 %	%
Consumer real estate	1.46 %	%	1.52 %	%	1.63 %	%	1.63 %	%	1.57 %	%
Credit card and other5	3.40 %	%	3.42 %	%	3.50 %	%	3.41 %	%	3.28 %	%
Total allowance for loans and lease losses to loans and leases	1.15 %	%	1.23 %	%	1.29 %	%	1.32 %	%	1.30 %	%
Allowance for loans and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)	150 %	%	158 %	%	155 %	%	178 %	%	199 %	%
Commercial real estate	74 %	%	80 %	%	90 %	%	79 %	%	77 %	%
Consumer real estate	147 %	%	158 %	%	179 %	%	178 %	%	167 %	%
Credit card and other5	2,096 %	%	1,380 %	%	1,684 %	%	1,752 %	%	1,438 %	%
Total allowance for loans and lease losses to nonperforming loans and leases	122 %	%	128 %	%	137 %	%	135 %	%	136 %	%

Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4	1.31 %	%	1.38 %	%	1.42 %	%	1.45 %	%	1.43 %	%
Total allowance for credit losses to nonperforming loans and leases4	139 %	%	144 %	%	152 %	%	148 %	%	149 %	%

See footnote disclosures on page 21 and glossary of terms on page 27.

COMMERCIAL, CONSUMER, AND WEALTH

Quarterly, Unaudited


																4Q25 Change vs.																2025 vs 2024
	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25					4Q24					2025			2024
																$/bp			%		$/bp			%								$/bp			%
Income Statement (millions)
Net interest income	$	651		$	660		$	634		$	624		$	635		$	(9)		(1)%	%	$	16		3 %	%	$	2,568		$	2,532		$	37		1 %	%
Noninterest income	124			117			113			110			116			8			7		8			7		465			461			4			1 %	%
Total revenue	776			777			747			734			751			(1)			—		25			3		3,033			2,993			40			1 %	%
Noninterest expense	379			365			354			344			361			14			4		18			5		1,443			1,417			25			2 %	%
Pre-provision net revenue3	396			411			393			390			390			(15)			(4)		7			2		1,590			1,575			15			1 %	%
Provision for credit losses	(2)			2			13			38			15			(4)			NM		(17)			(115)		50			158			(107)			(68)%	%
Income before income tax expense	399			410			380			352			375			(11)			(3)		24			6		1,540			1,417			123			9 %	%
Income tax expense	95			98			90			84			89			(3)			(3)		6			7		367			335			32			10 %	%
Net income	$	304		$	312		$	289		$	268		$	286		$	(9)		(3)%	%	$	18		6 %	%	$	1,173		$	1,083		$	91		8 %	%

Average Balances (billions)
Total loans and leases	$	56.5		$	56.4		$	56.3		$	56.2		$	56.5		$	0.1		— %	%	$	—		— %	%	$	56.3		$	56.7		$	(0.4)		(1)%	%
Interest-earning assets	56.5			56.4			56.3			56.2			56.5			0.1			—		—			—		56.3			56.7			(0.4)			(1)
Total assets	59.0			58.8			58.7			58.7			59.1			0.2			—		(0.1)			—		58.8			59.4			(0.6)			(1)
Total deposits	59.4			59.1			58.9			59.1			59.9			0.2			—		(0.5)			(1)		59.1			59.8			(0.6)			(1)

Key Metrics
Net interest margin6	4.60 %		%	4.67 %		%	4.53 %		%	4.52 %		%	4.49 %		%	(7)		bp			11		bp			4.58 %		%	4.49 %		%	9		bp
Efficiency ratio	48.89 %		%	47.04 %		%	47.43 %		%	46.85 %		%	48.13 %		%	185		bp			76		bp			47.56 %		%	47.37 %		%	19		bp
Loans-to-deposits ratio (period-end balances)	94.83 %		%	94.56 %		%	95.33 %		%	94.28 %		%	94.14 %		%	27		bp			69		bp			94.83 %		%	94.14 %		%	69		bp
Loans-to-deposits ratio (average-end balances)	95.09 %		%	95.30 %		%	95.59 %		%	94.99 %		%	94.30 %		%	(21)		bp			79		bp			95.24 %		%	94.83 %		%	41		bp
Return on average assets (annualized)	2.04 %		%	2.10 %		%	1.98 %		%	1.85 %		%	1.92 %		%	(6)		bp			12		bp			1.99 %		%	1.82 %		%	17		bp
Return on allocated equity7	25.01 %		%	25.14 %		%	23.03 %		%	21.50 %		%	22.38 %		%	(13)		bp			263		bp			23.66 %		%	21.54 %		%	212		bp
Financial center locations	412			413			414			414			416			(1)					(4)					412			416			(4)

Numbers may not total due to rounding.

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

See footnote disclosures on page 21 and glossary of terms on page 27.

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.

Quarterly, Unaudited


																4Q25 Change vs.																2025 vs 2024
	4Q25			3Q25			2Q25			1Q25			4Q24			3Q25					4Q24					2025			2024
																$/bp			%		$/bp			%								$/bp			%
Income Statement (millions)
Net interest income	$	66		$	60		$	57		$	50		$	54		$	5		9 %	%	$	12		22 %	%	$	233		$	194		$	39		20 %	%
Noninterest income	69			74			53			59			58			(4)			(6)		11			20		256			230			26			12
Total revenue	135			134			111			109			112			1			1		23			21		490			424			66			16
Noninterest expense	85			83			76			76			76			2			3		9			12		320			299			21			7
Pre-provision net revenue3	50			51			35			33			36			(1)			(2)		14			38		169			125			44			36
Provision for credit losses	3			(1)			6			3			1			4			NM		2			NM		12			3			9			NM
Income before income tax expense	47			52			29			30			35			(5)			(10)		12			33		158			122			35			29
Income tax expense	11			12			7			7			8			(1)			(10)		3			33		38			30			8			28
Net income	$	35		$	39		$	22		$	23		$	27		$	(4)		(10)%	%	$	9		33 %	%	$	120		$	93		$	27		29 %	%

Average Balances (billions)
Total loans and leases	$	6.5		$	6.0		$	5.8		$	5.0		$	5.5		$	0.5		9 %	%	$	1.0		18 %	%	$	5.8		$	4.9		$	1.0		20 %	%
Interest-earning assets	9.6			8.7			8.6			7.8			8.2			0.9			11		1.4			17		8.7			7.4			1.3			17
Total assets	10.3			9.4			9.3			8.5			8.9			0.9			10		1.4			16		9.4			8.1			1.2			15
Total deposits	2.3			2.2			2.1			2.0			2.0			0.1			4		0.3			14		2.1			1.9			0.2			13

Key Metrics
Fixed income product average daily revenue (thousands)	$	765		$	771		$	550		$	586		$	659		$	(6)		(1)%	%	$	106		16 %	%	$	669		$	617		$	53		9 %	%
Net interest margin6	2.74 %		%	2.78 %		%	2.67 %		%	2.59 %		%	2.64 %		%	(5)		bp			9		bp			2.70 %		%	2.62 %		%	8		bp
Efficiency ratio	63.08 %		%	61.93 %		%	68.29 %		%	69.58 %		%	67.65 %		%	115		bp			(458)		bp			65.39 %		%	70.52 %		%	(513)		bp
Loans-to-deposits ratio (period-end balances)	343 %		%	319 %		%	312 %		%	288 %		%	305 %		%	2,389		bp			3,856		bp			343 %		%	305 %		%	3,856		bp
Loans-to-deposits ratio (average-end balances)	288 %		%	276 %		%	282 %		%	252 %		%	278 %		%	1,229		bp			971		bp			275 %		%	261 %		%	1,461		bp
Return on average assets (annualized)	1.37 %		%	1.66 %		%	0.96 %		%	1.08 %		%	1.19 %		%	(30)		bp			17		bp			1.28 %		%	1.14 %		%	14		bp
Return on allocated equity7	24.37 %		%	27.16 %		%	15.96 %		%	16.56 %		%	18.99 %		%	(279)		bp			538		bp			21.11 %		%	16.78 %		%	433		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 21 and glossary of terms on page 27.

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.

Quarterly, Unaudited


											4Q25 Change vs.												2025 vs 2024
	4Q25		3Q25		2Q25		1Q25		4Q24		3Q25				4Q24				2025		2024
											$		%		$		%						$/bp		%
Income Statement (millions)
Net interest income/(expense)	$	(41)	$	(46)	$	(50)	$	(42)	$	(59)	$	5	11 %	%	$	18	30 %	%	$	(179)	$	(215)	$	35	17 %	%
Noninterest income	18		25		22		12		(75)		(6)		(25)		94		124		77		(11)		88		NM
Total revenues	(23)		(22)		(28)		(30)		(134)		(1)		(5)		112		83		(103)		(226)		123		55
Noninterest expense	80		102		61		68		71		(22)		(21)		9		13		311		319		(7)		(2)
Pre-provision net revenue3	(103)		(124)		(89)		(98)		(205)		21		17		102		50		(414)		(545)		131		24
Provision for credit losses	(1)		(6)		11		(1)		(6)		5		80		5		81		3		(10)		13		128
Income before income tax expense	(102)		(118)		(100)		(97)		(199)		16		13		97		49		(417)		(535)		118		22
Income tax expense (benefit)	(29)		(32)		(33)		(28)		(57)		4		11		28		50		(122)		(153)		31		20
Net income/(loss)	$	(73)	$	(85)	$	(67)	$	(69)	$	(143)	$	12	14 %	%	$	69	49 %	%	$	(295)	$	(382)	$	87	23 %	%

Average Balance Sheet (billions)
Interest bearing assets	$	11.0	$	11.0	$	11.0	$	10.8	$	11.1	$	—	— %	%	$	(0.1)	(1)%	%	$	10.9	$	11.4	$	(0.4)	(4)%	%
Total assets	13.8		13.9		13.9		13.8		14.0		—		—		(0.2)		(1)		13.8		14.3		(0.5)		(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.

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 22.

5 Credit card and other includes $143 million of commercial credit card balances at December 31, 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)	4Q25			3Q25			2Q25			1Q25			4Q24			2025			2024

Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	9,142		$	9,244		$	9,257		$	9,044		$	9,111		$	9,142		$	9,111
Less: Noncontrolling interest (a)	295			295			295			295			295			295			295
Less: Preferred stock (a)	349			349			426			426			426			349			426
(B) Total common equity	$	8,498		$	8,600		$	8,536		$	8,322		$	8,389		$	8,498		$	8,389
Less: Intangible assets (GAAP) (b)	1,615			1,624			1,633			1,643			1,653			1,615			1,653
(C) Tangible common equity (Non-GAAP)	$	6,882		$	6,976		$	6,903		$	6,680		$	6,737		$	6,882		$	6,737

Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	83,876		$	83,192		$	82,084		$	81,491		$	82,152		$	83,876		$	82,152
Less: Intangible assets (GAAP) (b)	1,615			1,624			1,633			1,643			1,653			1,615			1,653
(E) Tangible assets (Non-GAAP)	$	82,261		$	81,568		$	80,451		$	79,849		$	80,499		$	82,261		$	80,499












Period-end Shares Outstanding
(F) Period-end shares outstanding	485			500			509			507			524			485			524

Ratios


(A)/(D) Total equity to total assets (GAAP)	10.90 %		%	11.11 %		%	11.28 %		%	11.10 %		%	11.09 %		%	10.90 %		%	11.09 %		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	8.37 %		%	8.55 %		%	8.58 %		%	8.37 %		%	8.37 %		%	8.37 %		%	8.37 %		%
(B)/(F) Book value per common share (GAAP)	$	17.53		$	17.19		$	16.78		$	16.40		$	16.00		$	17.53		$	16.00
(C)/(F) Tangible book value per common share (Non-GAAP)	$	14.20		$	13.94		$	13.57		$	13.17		$	12.85		$	14.20		$	12.85

(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)		4Q25			3Q25			2Q25			1Q25			4Q24			2025			2024

Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)	a	$	257		$	254		$	233		$	213		$	158		$	956		$	738
Plus Total notable items (after-tax) (Non-GAAP) (a)		$	2		$	9		$	(3)		$	4		$	71		12			105
Adjusted net income available to common shareholders (Non-GAAP)	b	$	259		$	263		$	229		$	217		$	228		$	968		$	843

Diluted Shares (GAAP)8	c	496			510			514			523			534			511			544

Diluted EPS (GAAP)	a/c	$	0.52		$	0.50		$	0.45		$	0.41		$	0.29		$	1.87		$	1.36
Adjusted diluted EPS (Non-GAAP)	b/c	$	0.52		$	0.51		$	0.45		$	0.42		$	0.43		$	1.89		$	1.55

Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)		$	266		$	266		$	244		$	222		$	170		$	998		$	794
Plus Relevant notable items (after-tax) (Non-GAAP) (a)		$	2		$	6		$	(3)		$	4		$	71		$	10		97
Adjusted NI (Non-GAAP)		$	268		$	272		$	241		$	227		$	240		$	1,008		$	891

NI (annualized) (GAAP)	d	$	1,054		$	1,055		$	980		$	901		$	675		$	998		$	794
Adjusted NI (annualized) (Non-GAAP)	e	$	1,064		$	1,079		$	967		$	919		$	956		$	1,008		$	891

Average assets (GAAP)	f	$	83,081		$	82,049		$	81,958		$	80,965		$	81,950		$	82,019		$	81,822

ROA (GAAP)	d/f	1.27 %		%	1.29 %		%	1.20 %		%	1.11 %		%	0.82 %		%	1.22 %		%	0.97 %		%
Adjusted ROA (Non-GAAP)	e/f	1.28 %		%	1.32 %		%	1.18 %		%	1.14 %		%	1.17 %		%	1.23 %		%	1.09 %		%

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	$	1,018		$	1,007		$	933		$	864		$	627		$	956		$	738
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)	h	$	1,028		$	1,042		$	919		$	882		$	907		$	968		$	843

Average Common Equity (GAAP)	i	$	8,491		$	8,579		$	8,376		$	8,389		$	8,494		$	8,459		$	8,391
Intangible Assets (GAAP) (b)		1,619			1,628			1,638			1,648			1,658			1,633			1,674
Average Tangible Common Equity (Non-GAAP)	j	$	6,872		$	6,950		$	6,738		$	6,742		$	6,836		$	6,826		$	6,717
Equity Adjustment (Non-GAAP)		—			—			—			—			—			4			20
Adjusted Average Tangible Common Equity (Non-GAAP)	k	$	6,872		$	6,950		$	6,738		$	6,742		$	6,836		$	6,830		$	6,737

ROCE (GAAP)	g/i	11.99 %		%	11.74 %		%	11.14 %		%	10.30 %		%	7.38 %		%	11.30 %		%	8.80 %		%


ROTCE (Non-GAAP)	g/j	14.82 %		%	14.49 %		%	13.85 %		%	12.81 %		%	9.17 %		%	14.01 %		%	10.99 %		%
Adjusted ROTCE (Non-GAAP)	h/k	14.96 %		%	15.00 %		%	13.65 %		%	13.08 %		%	13.27 %		%	14.18 %		%	12.51 %		%

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 10.

(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)		4Q25			3Q25			2Q25			1Q25			4Q24			2025			2024

Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)	l	$	212		$	215		$	189		$	181		$	99		$	797		$	679
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			91			—			91
Adjusted noninterest income (Non-GAAP)	m	$	212		$	215		$	189		$	181		$	190		$	797		$	771

Revenue (GAAP)	n	$	888		$	889		$	830		$	812		$	729		$	3,420		$	3,190
Taxable-equivalent adjustment		3			3			4			3			4			14			16
Revenue- Taxable-equivalent (Non-GAAP)		892			893			833			816			732			3,434			3,206
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			91			—			91
Adjusted revenue (Non-GAAP)	o	$	892		$	893		$	833		$	816		$	824		$	3,434		$	3,297

Securities gains/(losses) (GAAP)	p	$	—		$	—		$	—		$	—		$	(91)		$	1		(89)

Noninterest income as a % of total revenue (GAAP)	(l-p)/ (n-p)	23.89 %		%	24.16 %		%	22.73 %		%	22.29 %		%	23.20 %		%	23.30 %		%	23.44 %		%
Adjusted noninterest income as a % of total revenue (Non-GAAP)	m/o	23.80 %		%	24.07 %		%	22.63 %		%	22.20 %		%	23.10 %		%	23.21 %		%	23.33 %		%

Adjusted Efficiency Ratio
Noninterest expense (GAAP)	q	$	545		$	551		$	491		$	488		$	508		$	2,074		$	2,035
Plus notable items (pretax) (GAAP) (a)		(3)			(8)			4			(6)			(2)			(13)			(37)
Adjusted noninterest expense (Non-GAAP)	r	$	541		$	542		$	495		$	482		$	506		$	2,061		$	1,998

Revenue (GAAP)	s	$	888		$	889		$	830		$	812		$	729		$	3,420		$	3,190
Taxable-equivalent adjustment		3			3			4			3			4			14			16
Revenue- Taxable-equivalent (Non-GAAP)		892			893			833			816			732			3,434			3,206
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			91			—			91
Adjusted revenue (Non-GAAP)	t	$	892		$	893		$	833		$	816		$	824		$	3,434		$	3,297

Securities gains/(losses) (GAAP)	u	$	—		$	—		$	—		$	—		$	(91)		$	1		$	(89)

Efficiency ratio (GAAP)	q/ (s-u)	61.33 %		%	61.92 %		%	59.20 %		%	60.06 %		%	61.98 %		%	60.66 %		%	62.06 %		%
Adjusted efficiency ratio (Non-GAAP)	r/t	60.73 %		%	60.76 %		%	59.47 %		%	59.09 %		%	61.43 %		%	60.04 %		%	60.64 %		%

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 10.

(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								Period-end								Average
	4Q25		3Q25		4Q25 vs. 3Q25				4Q25		3Q25		4Q25 vs. 3Q25				2025		2024		2025 vs. 2024				2025		2024		2025 vs. 2024










Loans excluding LMC
Total Loans (GAAP)	$	64,156	$	63,058	$	1,098	2 %	%	$	63,432	$	62,787	$	645	1 %	%	$	64,156	$	62,565	$	1,590	3 %	%	$	62,610	$	62,005	$	604	1 %	%
LMC (GAAP)	4,703		3,926		776		20 %	%	4,160		3,628		531		15 %	%	4,703		3,471		1,232		36 %	%	3,539		2,614		925		35 %	%
Total Loans excl. LMC (Non-GAAP)	59,453		59,131		322		1 %	%	59,273		59,159		114		— %	%	59,453		59,095		358		1 %	%	59,071		59,392		(321)		(1)%	%
Total Consumer (GAAP)	14,688		14,982		(294)		(2)%	%	14,841		15,004		(162)		(1)%	%	14,688		14,716		(29)		— %	%	14,847		14,577		271		2 %	%
Total Commercial excl. LMC (Non-GAAP)	44,765		44,149		616		1 %	%	44,432		44,156		276		1 %	%	44,765		44,378		387		1 %	%	44,223		44,815		(592)		(1)%	%
Total CRE (GAAP)	13,563		13,674		(111)		(1)%	%	13,587		13,772		(186)		(1)%	%	13,563		14,421		(858)		(6)%	%	13,931		14,558		(626)		(4)%	%
Total C&I excl. LMC (Non-GAAP)	$	31,202	$	30,475	$	727	2 %	%	$	30,845	$	30,383	462		2 %	%	$	31,202	$	29,957	$	1,245	4 %	%	$	30,292	$	30,257	$	35	— %	%

Numbers may not total due to rounding.



		4Q25			3Q25			2Q25			1Q25			4Q24			2025			2024			2025 vs. 2024
Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases																							$/bp
Allowance for loan and lease losses (GAAP)	A	$	738		$	777		$	814		$	822		$	815		$	738		$	815		(76)
Reserve for unfunded commitments (GAAP)		101			93			87			83			79			101			79			22
Allowance for credit losses (Non-GAAP)	B	$	839		$	870		$	901		$	905		$	894		$	839		$	894		(55)

Loans and leases (GAAP)	C	$	64,156		$	63,058		$	63,260		$	62,215		$	62,565		$	64,156		$	62,565		1590
Nonaccrual loans and leases (GAAP)	D	$	604		$	605		$	593		$	609		$	602		$	604		$	602		2

Allowance for loans and lease losses to loans and leases (GAAP)	A/C	1.15 %		%	1.23 %		%	1.29 %		%	1.32 %		%	1.30 %		%	1.15 %		%	1.30 %		%	(15)
Allowance for credit losses to loans and leases (Non-GAAP)	B/C	1.31 %		%	1.38 %		%	1.42 %		%	1.45 %		%	1.43 %		%	1.31 %		%	1.43 %		%	(12)

Allowance for loans and lease losses to nonperforming loans and leases (GAAP)	A/D	122 %		%	128 %		%	137 %		%	135 %		%	136 %		%	122 %		%	136 %		%	(1,400)
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)	B/D	139 %		%	144 %		%	152 %		%	148 %		%	149 %		%	139 %		%	149 %		%	(1,000)

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions)

	4Q25		3Q25		2Q25		1Q25		4Q24		2025		2024
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)	$	343	$	344	$	309	$	285	$	210	$	1,281	$	1,005
Plus notable items (pretax) (GAAP) (a)	3		8		(4)		6		94		13		129
Adjusted Pre-tax income (non-GAAP)	$	347	$	352	$	304	$	290	$	304	$	1,294	$	1,134
Plus provision for credit losses expense (GAAP)	—		(5)		30		40		10		65		150
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)	$	347	$	347	$	334	$	330	$	314	$	1,359	$	1,284
Taxable-equivalent adjustment	3		3		4		3		4		14		16
Pre-provision net revenue-Taxable-equivalent (Non-GAAP)	$	350	$	351	$	338	$	334	$	318	$	1,372	$	1,299

(a) Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 10.

Numbers may not total due to rounding.

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.

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.