Document

First Horizon Corporation Delivers Strong First Quarter 2026 Results

with Net Income Available to Common Shareholders of $257 Million, up 21% year-over-year

and EPS of $0.53, up $0.12 from First Quarter 2025

MEMPHIS, TN (April 15, 2026) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported first quarter net income available to common shareholders ("NIAC") of $257 million or earnings per share of $0.53, compared with fourth quarter 2025 NIAC of $257 million or earnings per share of $0.52 and first quarter 2025 NIAC of $213 million or earnings per share of $0.41. Return on tangible common equity grew to 15.1% in the quarter.*

"We are pleased to deliver adjusted return on tangible common equity* of 15%+ for the third consecutive quarter, a key measure of value creation for shareholders," said Chairman, President and CEO Bryan Jordan. "These results reflect disciplined execution across our footprint and lines of business."

Jordan continued, "Year-over-year, tangible book value per share* increased 9% and net income available to common shareholders grew 21%. We achieved this by creating revenue through relationship banking, maintaining expense discipline, and executing with a strong credit culture. Safety and soundness, profitability, and growth remain our top priorities to create meaningful value for our clients, communities, and shareholders."

Notable Items


Notable Items
Quarterly, Unaudited ($ in millions, except per share data)	1Q26		4Q25		1Q25
Summary of Notable Items:







FDIC special assessment (other noninterest expense)	$	—	$	7	$	(1)
Other notable expenses	—		(10)		(5)
Total notable items (pre-tax)	$	—	$	(3)	$	(6)
Tax on notable items before preferred stock dividends	$	—	$	1	$	1

Total notable items (after-tax)	$	—	$	(2)	$	(4)

Numbers may not total due to rounding.

* "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.

First Quarter 2026 versus Fourth Quarter 2025

Net interest income

Net interest income (FTE) decreased $9 million to $670 million and net interest margin of 3.52% increased 1 basis point. The NII decrease was primarily driven by day count changes from the prior quarter. Deposit repricing performance offset declines in loan yields to expand net interest margin.

Noninterest income

Noninterest income decreased $18 million to $195 million, driven by decreases of $6 million in service charges,

$5 million in deferred compensation income, and $4 million in fixed income.

Noninterest expense

Noninterest expense of $505 million decreased $40 million from the prior quarter. This includes a $26 million decrease in outside services, primarily driven by technology projects completed in the prior quarter and seasonally reduced marketing expenses, an $8 million decrease in incentives and commissions expenses related to accruals in the prior quarter, and a $5 million decrease in deferred compensation expenses.

Loans and leases

Average loan and lease balances of $63.2 billion decreased $240 million from the prior quarter, while period-end balances were $64.4 billion, up $221 million from fourth quarter 2025. Loans to mortgage companies (LMC) declined by $62 million at period-end, and other C&I balances increased by $624 million. The increase in C&I balances was partially offset by declines in consumer and CRE loan balances. Loan yields of 5.68% decreased 15 basis points, driven by the 25 basis point Fed rate cut in December 2025.

Deposits

Average deposits of $66.2 billion decreased $332 million from fourth quarter 2025. Period-end deposits of $66.5 billion decreased $1.0 billion, driven by a $1.1 billion decrease in interest bearing deposits. Interest-bearing deposit cost of 2.28% decreased 25 basis points from the prior quarter, with a spot rate of approximately 2.27% at the end of the quarter.

Asset quality

Provision for credit losses expense was $15 million, compared to zero in fourth quarter 2025. Net charge-offs were $29 million or 18 basis points, down slightly from $30 million or 19 basis points in the prior quarter. Nonperforming loans of $606 million increased $2 million. The ACL to loans ratio decreased from 1.31% in fourth quarter 2025 to 1.28%, driven by the continued positive resolution of non-pass loans, which are down over 20% year-over-year.

Capital

CET1 ratio was 10.53%, a 10 basis point decline from the fourth quarter 2025. Capital was deployed into loan growth as well as share repurchases, which totaled $233 million at an average price of $24.54 per share including commissions. Tier 1 and total capital ratios increased from the previous quarter, driven by the $400 million Series H Preferred Stock issuance in March 2026.

Income taxes

The first quarter 2026 tax rate was 22.2%, compared to an effective tax rate of 22.6% and an adjusted tax rate of 22.7% in the previous quarter.


SUMMARY RESULTS
Quarterly, Unaudited

										1Q26 Change vs.
($ in millions, except per share and balance sheet data)	1Q26			4Q25			1Q25			4Q25					1Q25
										$/bp			%		$/bp			%
Income Statement
Interest income - taxable equivalent1	$	1,008		$	1,054		$	1,017		$	(47)		(4)	%	$	(10)		(1)	%
Interest expense- taxable equivalent1	337			375			383			(38)			(10)		(46)			(12)
Net interest income- taxable equivalent	670			679			634			(9)			(1)		36			6
Less: Taxable-equivalent adjustment	3			3			3			—			(10)		—			(12)
Net interest income	667			676			631			(9)			(1)		36			6
Noninterest income	195			212			181			(18)			(8)		13			7
Total revenue	862			888			812			(26)			(3)		50			6
Noninterest expense	505			545			488			(40)			(7)		17			4
Pre-provision net revenue3	357			343			325			14			4		32			10
Provision for credit losses	15			—			40			15			NM		(25)			(63)
Income before income taxes	342			343			285			(1)			—		57			20
Provision for income taxes	76			78			63			(2)			(2)		13			22
Net income	266			266			222			—			—		44			20
Net income attributable to noncontrolling interest	3			4			4			—			(12)		(1)			(14)
Net income attributable to controlling interest	263			262			218			1			—		44			20
Preferred stock dividends	5			5			5			—			—		—			—
Net income available to common shareholders	$	257		$	257		$	213		$	1		—	%	$	44		21	%

Adjusted net income4	$	266		$	268		$	227		$	(2)		(1)	%	$	39		17	%
Adjusted net income available to common shareholders4	$	257		$	259		$	217		$	(2)		(1)	%	$	40		18	%
Common stock information
EPS	$	0.53		$	0.52		$	0.41		$	0.01		2	%	$	0.12		29	%
Adjusted EPS4	$	0.53		$	0.52		$	0.42		$	0.01		2	%	$	0.11		26	%


Diluted shares8	487			496			523			(10)			(2)	%	(37)			(7)	%
Key performance metrics
Net interest margin6	3.52		%	3.51		%	3.42		%	1		bp			10		bp

Efficiency ratio	58.54			61.33			60.06			(279)		bp			(152)		bp
Adjusted efficiency ratio4	58.34			60.73			59.09			(239)		bp			(75)		bp
Effective income tax rate	22.21			22.64			21.96			(43)		bp			25		bp
Return on average assets	1.30			1.27			1.11			3		bp			19		bp
Adjusted return on average assets4	1.30			1.28			1.14			2		bp			16		bp
Return on average common equity (“ROCE")	12.3			12.0			10.3			27		bp			196		bp

Return on average tangible common equity (“ROTCE”)4	15.1			14.8			12.8			31		bp			231		bp
Adjusted ROTCE4	15.1			15.0			13.1			16		bp			204		bp
Noninterest income as a % of total revenue	22.63			23.89			22.29			(126)		bp			34		bp
Adjusted noninterest income as a % of total revenue4	22.55		%	23.80		%	22.20		%	(125)		bp			35		bp
Balance Sheet (billions)
Average loans	$	63.2		$	63.4		$	61.6		$	(0.2)		—	%	$	1.5		3	%
Average deposits	66.2			66.5			64.5			(0.3)			—		1.7			3
Average assets	83.0			83.1			81.0			—			—		2.1			3
Average common equity	$	8.5		$	8.5		$	8.4		$	—		—	%	$	0.1		1	%
Asset Quality Highlights

Allowance for credit losses to loans and leases4	1.28		%	1.31		%	1.45		%	(3)		bp			(17)		bp

Nonperforming loans and leases ratio	0.94		%	0.94		%	0.98		%	—		bp			(4)		bp
Net charge-off ratio	0.18		%	0.19		%	0.19		%	(1)		bp			(1)		bp
Net charge-offs	$	29		$	30		$	29		$	(2)		(6)	%	$	—		(2)	%
Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	10.5		%	10.6		%	10.9		%	(10)		bp			(40)		bp
Tier 1	11.9			11.5			11.9			44		bp			—		bp
Total Capital	13.7			13.3			14.1			39		bp			(32)		bp
Tier 1 leverage	10.6		%	10.2		%	10.5		%	44		bp			14		bp

Numbers may not total due to rounding.

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

Forward-Looking Statements

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

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

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

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

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

Presentation of regulatory measures, even those which are not GAAP, provides a meaningful 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 April 15, 2026, by dialing 1-833-470-1428 (if calling from the U.S.) and entering access code 672268. 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 April 15 until midnight CT on April 29, 2026. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 513284. A replay of the webcast will also be available on our website on April 15 and will be archived on the site for one year.

First Horizon Corporation (NYSE: FHN), with $84.1 billion in assets as of March 31, 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

																1Q26 Change vs.
($ in millions, except per share data)	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25				1Q25
																$		%		$		%
Interest income - taxable equivalent1	$	1,008		$	1,054		$	1,081		$	1,047		$	1,017		$	(47)	(4)	%	$	(10)	(1)	%
Interest expense- taxable equivalent1	337			375			403			403			383			(38)		(10)		(46)		(12)
Net interest income- taxable equivalent	670			679			678			645			634			(9)		(1)		36		6
Less: Taxable-equivalent adjustment	3			3			3			4			3			—		(10)		—		(12)
Net interest income	667			676			674			641			631			(9)		(1)		36		6
Noninterest income:
Fixed income	53			57			57			42			49			(4)		(7)		4		8
Mortgage banking	9			10			15			10			8			(1)		(10)		1		13
Brokerage, trust, and insurance	43			41			39			39			38			1		3		5		12
Service charges and fees	58			64			57			55			52			(6)		(9)		6		11
Card and digital banking fees	18			18			19			19			18			—		(1)		1		4
Deferred compensation income9	(3)			3			8			8			(3)			(5)		NM		—		(1)

Securities gains/(losses)	(1)			—			—			—			—			(1)		NM		(1)		NM
Other noninterest income	16			18			19			16			18			(2)		(11)		(2)		(11)
Total noninterest income	195			212			215			189			181			(18)		(8)		13		7
Total revenue	862			888			889			830			812			(26)		(3)		50		6
Noninterest expense:
Personnel expense:
Salaries and benefits	211			213			209			206			201			(2)		(1)		10		5
Incentives and commissions	79			87			79			73			81			(8)		(9)		(1)		(2)
Deferred compensation expense9	(2)			3			8			3			(3)			(5)		NM		1		47
Total personnel expense	289			303			296			282			279			(14)		(5)		10		4
Occupancy and equipment2	84			83			80			79			78			1		2		6		8
Outside services	69			95			79			71			63			(26)		(27)		6		9
Amortization of intangible assets	8			9			9			10			10			(1)		(8)		(2)		(16)
Other noninterest expense	55			55			87			50			58			—		—		(3)		(5)
Total noninterest expense	505			545			551			491			488			(40)		(7)		17		4
Pre-provision net revenue3	357			343			339			339			325			14		4		32		10
Provision for credit losses	15			—			(5)			30			40			15		NM		(25)		(63)
Income before income taxes	342			343			344			309			285			(1)		—		57		20
Provision for income taxes	76			78			78			64			63			(2)		(2)		13		22
Net income	266			266			266			244			222			—		—		44		20
Net income attributable to noncontrolling interest	3			4			4			4			4			—		(12)		(1)		(14)
Net income attributable to controlling interest	263			262			262			240			218			1		—		44		20
Preferred stock dividends	5			5			8			8			5			—		—		—		—
Net income available to common shareholders	$	257		$	257		$	254		$	233		$	213		$	1	—	%	$	44	21	%
Common Share Data
EPS	$	0.54		$	0.52		$	0.50		$	0.46		$	0.41		$	0.02	4	%	$	0.13	32	%
Basic shares	480			491			505			508			517			(10)		(2)		(37)		(7)
Diluted EPS	$	0.53		$	0.52		$	0.50		$	0.45		$	0.41		$	0.01	2		$	0.12	29
Diluted shares8	487			496			510			514			523			(10)		(2)	%	(37)		(7)	%

Effective tax rate	22.2		%	22.6		%	22.7		%	20.8		%	22.0		%

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


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


Net interest income (FTE)1	$	670		$	679		$	678		$	645		$	634		$	(9)	(1)	%	$	36	6	%
Adjusted noninterest income:
Fixed income	53			57			57			42			49			(4)		(7)		4		8
Mortgage banking	9			10			15			10			8			(1)		(10)		1		13
Brokerage, trust, and insurance	43			41			39			39			38			1		3		5		12
Service charges and fees	58			64			57			55			52			(6)		(9)		6		11
Card and digital banking fees	18			18			19			19			18			—		(1)		1		4
Deferred compensation income9	(3)			3			8			8			(3)			(5)		NM		—		(1)

Adjusted securities gains/(losses)	(1)			—			—			—			—			(1)		NM		(1)		NM
Adjusted other noninterest income	16			18			19			16			18			(2)		(11)		(2)		(11)
Adjusted total noninterest income	$	195		$	212		$	215		$	189		$	181		$	(18)	(8)	%	$	13	7	%
Total revenue (FTE)1	$	865		$	892		$	893		$	833		$	816		$	(26)	(3)	%	$	49	6	%

Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits	$	211		$	213		$	209		$	206		$	201		$	(2)	(1)	%	$	10	5	%
Adjusted Incentives and commissions	79			87			79			73			81			(8)		(9)		(1)		(2)
Deferred compensation expense9	(2)			3			8			7			(3)			(5)		NM		1		47
Adjusted total personnel expense	289			303			296			286			279			(14)		(5)		10		4
Adjusted occupancy and equipment2	84			83			80			79			78			1		2		6		8
Adjusted outside services	69			95			79			71			63			(26)		(27)		6		9
Amortization of intangible assets	8			9			9			10			10			(1)		(8)		(2)		(16)
Adjusted other noninterest expense	55			52			79			50			52			3		6		3		6
Adjusted total noninterest expense	$	505		$	541		$	542		$	495		$	482		$	(36)	(7)	%	$	23	5	%

Adjusted pre-provision net revenue4	$	360		$	350		$	351		$	338		$	334		$	10	3	%	$	26	8	%

Provision for credit losses	$	15		$	—		$	(5)		$	30		$	40		$	15	NM		$	(25)	(63)	%







Adjusted net income available to common shareholders	$	257		$	259		$	263		$	229		$	217		$	(2)	(1)	%	$	40	18	%

Adjusted Common Share Data


Adjusted diluted EPS	$	0.53		$	0.52		$	0.51		$	0.45		$	0.42		$	0.01	2	%	$	0.11	26	%
Diluted shares8	487			496			510			514			523			(10)		(2)	%	(37)		(7)	%

Adjusted effective tax rate	22.2		%	22.7		%	22.7		%	20.8		%	22.0		%
Adjusted ROTCE4	15.1		%	15.0		%	15.0		%	13.6		%	13.1		%
Adjusted efficiency ratio4	58.3		%	60.7		%	60.8		%	59.5		%	59.1		%

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






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

Numbers may not total due to rounding.

* 4Q25 and 3Q25 each include $10 million of Visa derivative valuation expenses and 1Q25 includes $5 million.

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


IMPACT OF NOTABLE ITEMS:
Quarterly, Unaudited



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
















Noninterest expense:
Personnel expenses:


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

Outside services	—		—		—		—		—

Other noninterest expense	—		(3)		(8)		1		(6)
Total noninterest expense	$	—	$	(3)	$	(8)	$	4	$	(6)


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

Numbers may not total due to rounding.

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


FINANCIAL RATIOS
Quarterly, Unaudited
																1Q26 Change vs.
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25					1Q25
FINANCIAL RATIOS																$/bp			%		$/bp			%
Net interest margin6	3.52		%	3.51		%	3.55		%	3.40		%	3.42		%	1		bp			10		bp

Return on average assets	1.30		%	1.27		%	1.29		%	1.20		%	1.11		%	3		bp			19		bp
Adjusted return on average assets4	1.30		%	1.28		%	1.32		%	1.18		%	1.14		%	2		bp			16		bp
Return on average common equity (“ROCE”)	12.26		%	11.99		%	11.74		%	11.14		%	10.30		%	27		bp			196		bp

Return on average tangible common equity (“ROTCE”)4	15.12		%	14.82		%	14.49		%	13.85		%	12.81		%	31		bp			231		bp
Adjusted ROTCE4	15.12		%	14.96		%	15.00		%	13.65		%	13.08		%	16		bp			204		bp
Noninterest income as a % of total revenue	22.63		%	23.89		%	24.16		%	22.73		%	22.29		%	(126)		bp			34		bp
Adjusted noninterest income as a % of total revenue4	22.55		%	23.80		%	24.07		%	22.63		%	22.20		%	(125)		bp			35		bp
Efficiency ratio	58.54		%	61.33		%	61.92		%	59.20		%	60.06		%	(279)		bp			(152)		bp
Adjusted efficiency ratio4	58.34		%	60.73		%	60.76		%	59.47		%	59.09		%	(239)		bp			(75)		bp
Allowance for credit losses to loans and leases4	1.28		%	1.31		%	1.38		%	1.42		%	1.45		%	(3)		bp			(17)		bp

CAPITAL DATA
CET1 capital ratio*	10.5		%	10.6		%	11.0		%	11.0		%	10.9		%	(10)		bp			(40)		bp
Tier 1 capital ratio*	11.9		%	11.5		%	11.9		%	12.0		%	11.9		%	44		bp			—		bp
Total capital ratio*	13.7		%	13.3		%	13.8		%	14.0		%	14.1		%	39		bp			(32)		bp
Tier 1 leverage ratio*	10.6		%	10.2		%	10.5		%	10.6		%	10.5		%	44		bp			14		bp
Risk-weighted assets (“RWA”) (billions)*	$	73.3		$	73.0		$	72.0		$	71.7		$	70.8		$	0.3		—	%	$	2.5		4	%
Total equity to total assets	11.25		%	10.90		%	11.11		%	11.28		%	11.10		%	35		bp			15		bp
Tangible common equity/tangible assets (“TCE/TA”)4	8.27		%	8.37		%	8.55		%	8.58		%	8.37		%	(10)		bp			(10)		bp
Period-end shares outstanding (millions)8	476			485			500			509			507			(9)			(2)	%	(31)			(6)	%
Cash dividends declared per common share	$	0.17		$	0.15		$	0.15		$	0.15		$	0.15		$	0.02		13	%	$	0.02		13	%
Book value per common share	$	17.72		$	17.53		$	17.19		$	16.78		$	16.40		$	0.19		1	%	$	1.32		8	%
Tangible book value per common share4	$	14.34		$	14.20		$	13.94		$	13.57		$	13.17		$	0.14		1	%	$	1.17		9	%


SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)	96.83		%	95.08		%	96.23		%	96.47		%	96.90		%	175		bp			(7)		bp
Loans-to-deposit ratio (average balances)	95.44		%	95.33		%	95.24		%	96.62		%	95.57		%	11		bp			(13)		bp
Full-time equivalent associates	7,369			7,373			7,341			7,255			7,190			(4)			—	%	179			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


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

Loans and leases:
Commercial, financial, and industrial (C&I)	$	36,467	$	35,905	$	34,401	$	34,359	$	33,354	$	562	2	%	$	3,113	9	%
Commercial real estate	13,420		13,563		13,674		13,936		14,139		(143)		(1)		(719)		(5)
Total Commercial	49,887		49,468		48,076		48,295		47,493		419		1		2,394		5
Consumer real estate	13,928		14,107		14,403		14,368		14,089		(179)		(1)		(160)		(1)
Credit card and other5	562		580		579		597		633		(19)		(3)		(72)		(11)
Total Consumer	14,490		14,688		14,982		14,965		14,722		(198)		(1)		(232)		(2)
Loans and leases, net of unearned income	64,377		64,156		63,058		63,260		62,215		221		—		2,162		3
Loans held for sale	562		406		501		402		510		156		38		53		10
Investment securities	9,351		9,382		9,332		9,362		9,333		(31)		—		17		—
Trading securities	1,812		1,904		2,070		1,430		1,376		(92)		(5)		436		32
Interest-bearing deposits with banks	1,116		1,125		1,228		911		1,164		(9)		(1)		(49)		(4)
Federal funds sold and securities purchased under agreements to resell	754		634		774		527		728		120		19		26		4
Total interest earning assets	77,971		77,606		76,963		75,893		75,326		365		—		2,645		4
Cash and due from banks	889		961		912		988		915		(72)		(7)		(26)		(3)
Goodwill and other intangible assets, net	1,607		1,615		1,624		1,633		1,643		(8)		(1)		(36)		(2)
Premises and equipment, net	539		544		553		561		569		(5)		(1)		(30)		(5)
Allowance for loan and lease losses	(730)		(738)		(777)		(814)		(822)		9		1		93		11
Other assets	3,855		3,889		3,916		3,823		3,861		(33)		(1)		(5)		—
Total assets	$	84,132	$	83,876	$	83,192	$	82,084	$	81,491	$	256	—	%	$	2,640	3	%

Liabilities and Shareholders' Equity:
Deposits:
Savings	$	26,007	$	26,010	$	26,365	$	25,939	$	26,242	$	(3)	—	%	$	(235)	(1)	%
Time deposits	7,125		6,485		6,201		7,270		5,918		640		10		1,207		20
Other interest-bearing deposits	17,440		19,158		16,936		16,477		16,213		(1,718)		(9)		1,227		8
Total interest-bearing deposits	50,572		51,653		49,502		49,685		48,373		(1,081)		(2)		2,199		5
Trading liabilities	666		607		662		469		670		59		10		(4)		(1)
Federal funds purchased and securities sold under agreements to repurchase	2,193		3,012		2,675		3,201		2,572		(819)		(27)		(378)		(15)
Short-term borrowings	1,975		241		1,596		260		1,223		1,733		NM		752		61
Term borrowings	1,318		1,321		1,328		1,342		1,691		(2)		—		(372)		(22)
Total interest-bearing liabilities	56,725		56,835		55,763		54,957		54,529		(110)		—		2,196		4
Noninterest-bearing deposits	15,910		15,823		16,023		15,892		15,835		87		1		75		—
Other liabilities	2,032		2,076		2,163		1,978		2,084		(44)		(2)		(52)		(2)
Total liabilities	74,667		74,734		73,948		72,826		72,447		(67)		—		2,220		3
Shareholders' Equity:
Preferred stock10	741		349		349		426		426		392		112		314		74
Common stock	297		303		313		318		317		(6)		(2)		(20)		(6)
Capital surplus	3,759		3,974		4,288		4,459		4,472		(215)		(5)		(713)		(16)
Retained earnings	5,205		5,030		4,848		4,671		4,516		175		3		689		15
Accumulated other comprehensive loss, net	(832)		(809)		(849)		(912)		(983)		(23)		(3)		151		15
Combined shareholders' equity	9,170		8,847		8,949		8,962		8,749		323		4		421		5
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,465		9,142		9,244		9,257		9,044		323		4		421		5
Total liabilities and shareholders' equity	$	84,132	$	83,876	$	83,192	$	82,084	$	81,491	$	256	—	%	$	2,640	3	%
Memo:
Total deposits	$	66,482	$	67,477	$	65,525	$	65,576	$	64,208	$	(994)	(1)	%	$	2,275	4	%
Loans to mortgage companies	$	4,641	$	4,703	$	3,926	$	4,058	$	3,369	$	(62)	(1)	%	$	1,272	38	%
Unfunded Loan Commitments:
Commercial	$	18,980	$	18,644	$	18,485	$	17,784	$	17,974	$	337	2	%	$	1,007	6	%
Consumer	$	4,022	$	4,002	$	4,036	$	4,153	$	4,190	$	21	1	%	$	(168)	(4)	%

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


											1Q26 Change vs.
(In millions)	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
Assets:											$		%		$		%
Loans and leases:
Commercial, financial, and industrial (C&I)	$	35,208	$	35,005	$	34,011	$	33,634	$	32,632	$	203	1	%	$	2,576	8	%
Commercial real estate	13,417		13,587		13,772		14,070		14,318		(170)		(1)		(901)		(6)
Total Commercial	48,625		48,591		47,784		47,704		46,951		34		—		1,674		4
Consumer real estate	13,998		14,255		14,409		14,224		14,046		(257)		(2)		(47)		—
Credit card and other5	569		586		594		623		649		(17)		(3)		(80)		(12)
Total Consumer	14,567		14,841		15,004		14,847		14,694		(274)		(2)		(127)		(1)
Loans and leases, net of unearned income	63,192		63,432		62,787		62,551		61,645		(240)		—		1,547		3
Loans held-for-sale	479		515		454		501		519		(36)		(7)		(40)		(8)
Investment securities	9,454		9,321		9,321		9,330		9,209		134		1		245		3
Trading securities	1,796		1,798		1,625		1,609		1,442		(2)		—		354		25
Interest-bearing deposits with banks	1,233		1,218		1,272		1,259		1,265		14		1		(33)		(3)
Federal funds sold and securities purchased under agreements to resell	756		743		573		636		713		13		2		43		6
Total interest earning assets	76,910		77,027		76,032		75,887		74,793		(117)		—		2,117		3
Cash and due from banks	936		900		860		864		886		36		4		51		6
Goodwill and other intangible assets, net	1,611		1,619		1,628		1,638		1,648		(8)		(1)		(36)		(2)
Premises and equipment, net	543		548		556		565		570		(5)		(1)		(27)		(5)
Allowance for loan and lease losses	(750)		(774)		(809)		(828)		(827)		24		3		77		9
Other assets	3,795		3,760		3,781		3,831		3,896		34		1		(101)		(3)
Total assets	$	83,045	$	83,081	$	82,049	$	81,958	$	80,965	$	(36)	—	%	$	2,081	3	%

Liabilities and shareholders' equity:
Deposits:
Savings	$	26,148	$	26,693	$	26,326	$	25,899	$	26,544	$	(545)	(2)	%	$	(396)	(1)	%
Time deposits	6,755		6,205		6,871		6,630		6,329		550		9		426		7
Other interest-bearing deposits	17,679		17,573		16,866		16,362		16,096		106		1		1,583		10
Total interest-bearing deposits	50,582		50,470		50,063		48,891		48,970		112		—		1,612		3
Trading liabilities	729		722		549		613		692		7		1		36		5
Federal funds purchased and securities sold under agreements to repurchase	2,649		2,807		2,631		2,692		2,479		(158)		(6)		170		7
Short-term borrowings	894		470		387		1,208		681		423		90		212		31
Term borrowings	1,319		1,323		1,335		1,556		1,332		(4)		—		(12)		(1)
Total interest-bearing liabilities	56,173		55,792		54,965		54,960		54,154		381		1		2,019		4
Noninterest-bearing deposits	15,628		16,072		15,862		15,851		15,535		(444)		(3)		93		1
Other liabilities	1,999		2,082		1,999		2,050		2,165		(83)		(4)		(166)		(8)
Total liabilities	73,800		73,946		72,825		72,861		71,854		(146)		—		1,946		3
Shareholders' Equity:
Preferred stock10	436		349		350		426		426		87		25		10		2
Common stock	300		307		316		318		323		(7)		(2)		(23)		(7)
Capital surplus	3,866		4,095		4,379		4,464		4,664		(229)		(6)		(798)		(17)
Retained earnings	5,129		4,910		4,798		4,562		4,468		219		4		661		15
Accumulated other comprehensive loss, net	(781)		(821)		(913)		(967)		(1,066)		40		5		285		27
Combined shareholders' equity	8,950		8,840		8,928		8,802		8,816		110		1		134		2
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,245		9,135		9,224		9,097		9,111		110		1		134		1
Total liabilities and shareholders' equity	$	83,045	$	83,081	$	82,049	$	81,958	$	80,965	$	(36)	—	%	$	2,081	3	%
Memo:
Total deposits	$	66,210	$	66,542	$	65,924	$	64,742	$	64,504	$	(332)	—	%	$	1,706	3	%
Loans to mortgage companies	$	3,884	$	4,160	$	3,628	$	3,533	$	2,819	$	(275)	(7)	%	$	1,066	38	%

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
																					1Q26 Change vs.
	1Q26				4Q25				3Q25				2Q25				1Q25				4Q25					1Q25
(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	$	707	5.89	%	$	743	6.07	%	$	767	6.37	%	$	738	6.21	%	$	715	6.18	%	$	(36)		(5)	%	$	(7)		(1)	%


Consumer	181		4.99		187		5.02		191		5.07		186		4.99		182		4.96		(6)			(3)		—			—
Loans and leases, net of unearned income	887		5.68		930		5.83		957		6.06		924		5.92		897		5.89		(43)			(5)		(10)			(1)
Loans held-for-sale	7		6.26		8		6.45		8		6.86		8		6.76		9		7.09		(1)			(10)		(2)			(19)
Investment securities	71		3.02		71		3.06		72		3.09		71		3.06		69		3.02		—			—		2			3
Trading securities	24		5.25		25		5.57		24		5.81		23		5.72		20		5.57		(1)			(6)		3			17
Interest-bearing deposits with banks	11		3.69		12		3.97		14		4.41		14		4.45		14		4.44		(1)			(8)		(3)			(19)
Federal funds sold and securities purchased under agreements	7		3.55		7		3.86		6		4.20		7		4.24		7		4.24		(1)			(9)		(1)			(11)
Interest income	$	1,008	5.29	%	$	1,054	5.44	%	$	1,081	5.65	%	$	1,047	5.53	%	$	1,017	5.50	%	$	(47)		(4)	%	$	(10)		(1)	%

Interest bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings	$	138	2.14	%	$	169	2.51	%	$	184	2.78	%	$	177	2.73	%	$	175	2.67	%	$	(30)		(18)	%	$	(36)		(21)	%
Time deposits	56		3.39		55		3.49		64		3.71		64		3.88		62		4.00		2			3		(6)			(10)
Other interest-bearing deposits	89		2.04		98		2.22		102		2.41		96		2.36		92		2.31		(9)			(9)		(3)			(3)
Total interest-bearing deposits	284		2.28		322		2.53		351		2.78		337		2.76		329		2.72		(38)			(12)		(45)			(14)
Trading liabilities	7		3.81		7		3.76		5		3.93		6		4.07		7		4.29		—			—		—			(6)
Federal funds purchased and securities sold under agreements to repurchase	20		2.98		23		3.21		23		3.52		24		3.61		21		3.47		(3)			(14)		(2)			(8)
Short-term borrowings	8		3.78		5		4.08		4		4.39		13		4.47		7		4.40		3			72		1			13
Term borrowings	19		5.65		19		5.76		19		5.82		22		5.60		18		5.41		—			(2)		1			3
Interest expense	337		2.43		375		2.67		403		2.91		403		2.94		383		2.87		(38)			(10)		(46)			(12)
Net interest income - tax equivalent basis	670		2.86		679		2.77		678		2.74		645		2.59		634		2.63		(9)			(1)		36			6
Fully taxable equivalent adjustment	(3)		0.66		(3)		0.74		(3)		0.81		(4)		0.81		(3)		0.79		—			10		—			12
Net interest income	$	667	3.52	%	$	676	3.51	%	$	674	3.55	%	$	641	3.40	%	$	631	3.42	%	$	(9)		(1)	%	$	36		6	%

Memo:
Total loan yield			5.68	%			5.83	%			6.06	%			5.92	%			5.89	%	(15)		bp			(21)		bp
Total deposit cost			1.74	%			1.92	%			2.11	%			2.09	%			2.07	%	(18)		bp			(33)		bp
Total funding cost			1.90	%			2.07	%			2.26	%			2.28	%			2.23	%	(17)		bp			(33)		bp
Average loans and leases, net of unearned income	$	63,192			$	63,432			$	62,787			$	62,551			$	61,645			$	(240)		—	%	$	1,547		3	%
Average deposits	66,210				66,542				65,924				64,742				64,504				(332)			—	%	1,706			3	%
Average funded liabilities	71,801				71,864				70,827				70,811				69,689				$	(63)		—	%	$	2,112		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															1Q26 change vs.
(In millions, except ratio data)	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25				1Q25
																$		%		$		%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)	$	219		$	224		$	211		$	224		$	195		$	(5)	(2)	%	$	24	12	%
Commercial real estate	243			239			254			236			284			4		2		(42)		(15)
Consumer real estate	144			140			139			131			129			4		3		15		11
Credit card and other5	1			1			1			1			1			—		13		—		(14)
Total nonperforming loans and leases	$	606		$	604		$	605		$	593		$	609		$	2	—	%	$	(3)	(1)	%

Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)	0.60		%	0.62		%	0.61		%	0.65		%	0.58		%
Commercial real estate	1.81			1.76			1.86			1.70			2.01
Consumer real estate	1.03			0.99			0.96			0.91			0.92
Credit card and other5	0.19			0.16			0.25			0.21			0.19
Total nonperforming loans and leases to loans and leases	0.94		%	0.94		%	0.96		%	0.94		%	0.98		%

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										1Q26 change vs.
(In millions)	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$		%		$		%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)	$	1	$	1	$	1	$	1	$	1	$	(1)	(44)	%	$	—	43	%
Commercial real estate	—		—		—		—		—		—		NM		—		NM
Consumer real estate	2		6		6		6		7		(4)		(72)		(5)		(77)
Credit card and other5	1		1		2		1		—		—		(30)		—		NM
Total loans and leases 90 days or more past due and accruing	$	3	$	8	$	9	$	8	$	8	$	(5)	(62)	%	$	(5)	(60)	%

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															1Q26 change vs.
(In millions, except ratio data)	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25				1Q25
Charge-off, Recoveries and Related Ratios																$		%		$		%
Gross Charge-offs
Commercial, financial, and industrial (C&I)	$	36		$	39		$	25		$	28		$	34		$	(3)	(8)	%	$	3	8	%
Commercial real estate	4			2			3			8			3			2		NM		1		36
Consumer real estate	1			1			1			2			—			—		(1)		1		NM
Credit card and other5	4			4			6			6			4			—		(7)		—		4
Total gross charge-offs	$	45		$	47		$	36		$	43		$	41		$	(1)	(3)	%	$	5	11	%
Gross Recoveries
Commercial, financial, and industrial (C&I)	$	(14)		$	(13)		$	(6)		$	(6)		$	(6)		$	—	(2)	%	$	(8)	NM
Commercial real estate	—			—			—			—			(3)			—		NM		3		96
Consumer real estate	(2)			(2)			(1)			(2)			(1)			—		12		(1)		(57)
Credit card and other5	(1)			(1)			(1)			(2)			(1)			—		(17)		—		19
Total gross recoveries	$	(17)		$	(16)		$	(9)		$	(9)		$	(12)		$	—	(2)	%	$	(5)	(44)	%
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I)	$	23		$	26		$	19		$	22		$	28		$	(3)	(13)	%	$	(5)	(19)	%
Commercial real estate	3			2			3			8			(1)			2		NM		4		NM
Consumer real estate	—			(1)			(1)			—			(1)			—		34		—		42
Credit card and other5	3			3			5			4			3			—		(14)		—		15
Total net charge-offs	$	29		$	30		$	26		$	34		$	29		$	(2)	(6)	%	$	—	(2)	%

Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I)	0.26		%	0.30		%	0.22		%	0.26		%	0.35		%
Commercial real estate	0.10			0.04			0.09			0.22			(0.02)
Consumer real estate	(0.01)			(0.02)			(0.02)			—			(0.02)
Credit card and other5	2.10			2.31			3.54			2.64			1.60
Total loans and leases	0.18		%	0.19		%	0.17		%	0.22		%	0.19		%

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										1Q26 Change vs.
(In millions)	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
Summary of Changes in the Components of the Allowance For Credit Losses											$		%		$		%
Allowance for loan and lease losses - beginning	$	738	$	777	$	814	$	822	$	815	$	(38)	(5)	%	$	(77)	(9)	%













Charge-offs:
Commercial, financial, and industrial (C&I)	(36)		(39)		(25)		(28)		(34)		3		8		(3)		(8)
Commercial real estate	(4)		(2)		(3)		(8)		(3)		(2)		NM		(1)		(36)
Consumer real estate	(1)		(1)		(1)		(2)		—		—		1		(1)		NM
Credit card and other5	(4)		(4)		(6)		(6)		(4)		—		7		—		(4)
Total charge-offs	(45)		(47)		(36)		(43)		(41)		1		3		(5)		(11)
Recoveries:
Commercial, financial, and industrial (C&I)	14		13		6		6		6		—		2		8		NM
Commercial real estate	—		—		—		—		3		—		NM		(3)		(96)
Consumer real estate	2		2		1		2		1		—		(12)		1		57
Credit card and other5	1		1		1		2		1		—		17		—		(19)
Total Recoveries	17		16		9		9		12		—		2		5		44
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I)	41		28		5		23		28		13		45		12		45
Commercial real estate	(17)		(26)		(5)		(5)		(2)		9		35		(15)		NM
Consumer real estate	(6)		(13)		(15)		4		8		7		52		(14)		NM
Credit card and other5	3		3		4		3		2		(1)		(16)		1		27
Total provision for loan and lease losses:	20		(8)		(11)		26		36		28		NM		(16)		(44)
Allowance for loan and lease losses - ending	$	730	$	738	$	777	$	814	$	822	$	(9)	(1)	%	$	(93)	(11)	%

Reserve for unfunded commitments - beginning	$	101	$	93	$	87	$	83	$	79	$	8	9	%	$	22	28	%


Provision for unfunded commitments	(5)		8		6		4		4		(13)		NM		(9)		NM
Reserve for unfunded commitments - ending	$	96	$	101	$	93	$	87	$	83	$	(5)	(5)	%	$	13	16	%
Total allowance for credit losses- ending	$	826	$	839	$	870	$	901	$	905	$	(13)	(2)	%	$	(79)	(9)	%

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
	1Q26		4Q25		3Q25		2Q25		1Q25

Allowance for loan and lease losses to loans and leases
Commercial, financial, and industrial (C&I)	0.97	%	0.93	%	0.97	%	1.01	%	1.04	%
Commercial real estate	1.16	%	1.30	%	1.49	%	1.53	%	1.59	%
Consumer real estate	1.44	%	1.46	%	1.52	%	1.63	%	1.63	%
Credit card and other5	3.49	%	3.40	%	3.42	%	3.50	%	3.41	%
Total allowance for loan and lease losses to loans and leases	1.13	%	1.15	%	1.23	%	1.29	%	1.32	%
Allowance for loan and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)	162	%	150	%	158	%	155	%	178	%
Commercial real estate	64	%	74	%	80	%	90	%	79	%
Consumer real estate	140	%	147	%	158	%	179	%	178	%
Credit card and other5	1,842	%	2,096	%	1,380	%	1,684	%	1,752	%
Total allowance for loan and lease losses to nonperforming loans and leases	120	%	122	%	128	%	137	%	135	%

Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4	1.28	%	1.31	%	1.38	%	1.42	%	1.45	%
Total allowance for credit losses to nonperforming loans and leases4	136	%	139	%	144	%	152	%	148	%

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

COMMERCIAL, CONSUMER, AND WEALTH

Quarterly, Unaudited


																1Q26 Change vs.
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25					1Q25
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	649		$	662		$	671		$	643		$	633		$	(13)		(2)	%	$	17		3	%
Noninterest income	119			124			117			113			110			(6)			(5)		9			8
Total revenue	768			786			787			757			743			(18)			(2)		25			3
Noninterest expense	368			380			366			355			344			(12)			(3)		23			7
Pre-provision net revenue3	400			407			421			402			398			(6)			(1)		2			1
Provision for credit losses	8			(2)			2			13			38			10			NM		(30)			(79)
Income before income tax expense	393			409			420			389			360			(16)			(4)		32			9
Income tax expense	94			98			100			92			86			(4)			(4)		8			10
Net income	$	299		$	311		$	319		$	296		$	275		$	(12)		(4)	%	$	24		9	%

Average Balances (billions)
Total loans and leases	$	56.5		$	56.5		$	56.4		$	56.3		$	56.2		$	—		—	%	$	0.3		1	%
Interest-earning assets	56.5			56.5			56.4			56.3			56.2			—			—		0.3			1
Total assets	59.0			59.0			58.8			58.7			58.7			—			—		0.3			—
Total deposits	58.7			59.4			59.1			58.9			59.1			(0.7)			(1)		(0.4)			(1)

Key Metrics
Net interest margin6	4.68		%	4.67		%	4.74		%	4.60		%	4.58		%	1		bp			10		bp
Efficiency ratio	47.85		%	48.31		%	46.50		%	46.91		%	46.36		%	(46)		bp			149		bp
Loans-to-deposits ratio (period-end balances)	95.94		%	94.83		%	94.56		%	95.33		%	94.28		%	111		bp			166		bp
Loans-to-deposits ratio (average balances)	96.19		%	95.09		%	95.30		%	95.59		%	94.99		%	110		bp			120		bp
Return on average assets (annualized)	2.05		%	2.09		%	2.15		%	2.02		%	1.90		%	(4)		bp			15		bp
Return on allocated equity7	20.57		%	20.34		%	20.37		%	18.80		%	17.54		%	23		bp			303		bp
Financial center locations	410			412			413			414			414			(2)					(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 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


																1Q26 Change vs.
	1Q26			4Q25			3Q25			2Q25			1Q25			4Q25					1Q25
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	62		$	66		$	60		$	57		$	50		$	(3)		(5)	%	$	12		25	%
Noninterest income	64			69			74			53			59			(5)			(7)		5			8
Total revenue	126			135			134			111			109			(9)			(6)		17			16
Noninterest expense	83			85			83			75			75			(1)			(1)		8			11
Pre-provision net revenue3	43			50			52			36			34			(7)			(15)		9			27
Provision for credit losses	9			3			(1)			6			3			6			NM		6			NM
Income before income tax expense	34			47			52			30			31			(13)			(28)		3			10
Income tax expense	8			11			13			7			7			(3)			(28)		1			10
Net income	$	26		$	36		$	40		$	23		$	23		$	(10)		(28)	%	$	2		10	%

Average Balances (billions)
Total loans and leases	$	6.3		$	6.5		$	6.0		$	5.8		$	5.0		$	(0.2)		(2)	%	$	1.3		26	%
Interest-earning assets	9.4			9.6			8.7			8.6			7.8			(0.2)			(2)		1.6			21
Total assets	10.1			10.3			9.4			9.3			8.5			(0.2)			(2)		1.6			18
Total deposits	2.3			2.3			2.2			2.1			2.0			—			—		0.3			13

Key Metrics
Fixed income product average daily revenue (thousands)	$	742		$	765		$	771		$	550		$	586		$	(23)		(3)	%	$	157		27	%
Net interest margin6	2.68		%	2.72		%	2.77		%	2.67		%	2.59		%	(4)		bp			9		bp
Efficiency ratio	66.03		%	62.77		%	61.54		%	67.76		%	69.01		%	326		bp			(298)		bp
Loans-to-deposits ratio (period-end balances)	354		%	343		%	319		%	312		%	288		%	1,047		bp			6,594		bp
Loans-to-deposits ratio (average balances)	280		%	288		%	276		%	282		%	252		%	(758)		bp			2,815		bp
Return on average assets (annualized)	1.03		%	1.38		%	1.68		%	0.98		%	1.11		%	(35)		bp			(8)		bp
Return on allocated equity7	17.54		%	24.11		%	26.29		%	15.39		%	16.00		%	(658)		bp			153		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


											1Q26 Change vs.
	1Q26		4Q25		3Q25		2Q25		1Q25		4Q25				1Q25
											$		%		$		%
Income Statement (millions)
Net interest income/(expense)	$	(44)	$	(51)	$	(56)	$	(60)	$	(51)	$	7	14	%	$	7	14	%
Noninterest income	12		18		25		22		12		(7)		(36)		—		(1)
Total revenues	(32)		(33)		(32)		(38)		(40)		1		2		7		18
Noninterest expense	54		80		102		61		68		(26)		(33)		(14)		(21)
Pre-provision net revenue3	(86)		(113)		(134)		(99)		(108)		27		24		21		20
Provision for credit losses	(2)		(1)		(6)		11		(1)		(1)		(81)		(1)		(78)
Income before income tax expense	(84)		(112)		(128)		(110)		(106)		28		25		22		21
Income tax expense (benefit)	(26)		(31)		(35)		(35)		(31)		5		16		4		15
Net income/(loss)	$	(58)	$	(81)	$	(93)	$	(75)	$	(76)	$	23	28	%	$	18	23	%

Average Balance Sheet (billions)
Interest bearing assets	$	11.1	$	11.0	$	11.0	$	11.0	$	10.8	$	0.1	1	%	$	0.2	2	%
Total assets	14.0		13.8		13.9		13.9		13.8		0.2		1		0.2		2

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 $157 million of commercial credit card balances at March 31, 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 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)	1Q26			4Q25			3Q25			2Q25			1Q25

Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	9,465		$	9,142		$	9,244		$	9,257		$	9,044
Less: Noncontrolling interest (a)	295			295			295			295			295
Less: Preferred stock (a)	741			349			349			426			426
(B) Total common equity	$	8,429		$	8,498		$	8,600		$	8,536		$	8,322
Less: Intangible assets (GAAP) (b)	1,607			1,615			1,624			1,633			1,643
(C) Tangible common equity (Non-GAAP)	$	6,822		$	6,882		$	6,976		$	6,903		$	6,680

Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	84,132		$	83,876		$	83,192		$	82,084		$	81,491
Less: Intangible assets (GAAP) (b)	1,607			1,615			1,624			1,633			1,643
(E) Tangible assets (Non-GAAP)	$	82,525		$	82,261		$	81,568		$	80,451		$	79,849












Period-end Shares Outstanding
(F) Period-end shares outstanding	476			485			500			509			507

Ratios


(A)/(D) Total equity to total assets (GAAP)	11.25		%	10.90		%	11.11		%	11.28		%	11.10		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	8.27		%	8.37		%	8.55		%	8.58		%	8.37		%
(B)/(F) Book value per common share (GAAP)	$	17.72		$	17.53		$	17.19		$	16.78		$	16.40
(C)/(F) Tangible book value per common share (Non-GAAP)	$	14.34		$	14.20		$	13.94		$	13.57		$	13.17

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

Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)	a	$	257		$	257		$	254		$	233		$	213
Plus Total notable items (after-tax) (Non-GAAP) (a)		$	—		$	2		$	9		$	(3)		$	4
Adjusted net income available to common shareholders (Non-GAAP)	b	$	257		$	259		$	263		$	229		$	217

Diluted Shares (GAAP)8	c	487			496			510			514			523

Diluted EPS (GAAP)	a/c	$	0.53		$	0.52		$	0.50		$	0.45		$	0.41
Adjusted diluted EPS (Non-GAAP)	b/c	$	0.53		$	0.52		$	0.51		$	0.45		$	0.42

Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)		$	266		$	266		$	266		$	244		$	222
Plus Relevant notable items (after-tax) (Non-GAAP) (a)		$	—		$	2		$	6		$	(3)		$	4
Adjusted NI (Non-GAAP)		$	266		$	268		$	272		$	241		$	227

NI (annualized) (GAAP)	d	$	1,079		$	1,054		$	1,055		$	980		$	901
Adjusted NI (annualized) (Non-GAAP)	e	$	1,079		$	1,064		$	1,079		$	967		$	919

Average assets (GAAP)	f	$	83,045		$	83,081		$	82,049		$	81,958		$	80,965

ROA (GAAP)	d/f	1.30		%	1.27		%	1.29		%	1.20		%	1.11		%
Adjusted ROA (Non-GAAP)	e/f	1.30		%	1.28		%	1.32		%	1.18		%	1.14		%

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		$	1,018		$	1,007		$	933		$	864
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)	h	$	1,044		$	1,028		$	1,042		$	919		$	882

Average Common Equity (GAAP)	i	$	8,514		$	8,491		$	8,579		$	8,376		$	8,389
Intangible Assets (GAAP) (b)		1,611			1,619			1,628			1,638			1,648
Average Tangible Common Equity (Non-GAAP)	j	$	6,903		$	6,872		$	6,950		$	6,738		$	6,742



ROCE (GAAP)	g/i	12.26		%	11.99		%	11.74		%	11.14		%	10.30		%


ROTCE (Non-GAAP)	g/j	15.12		%	14.82		%	14.49		%	13.85		%	12.81		%
Adjusted ROTCE (Non-GAAP)	h/j	15.12		%	14.96		%	15.00		%	13.65		%	13.08		%

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

Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)	k	$	195		$	212		$	215		$	189		$	181
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted noninterest income (Non-GAAP)	l	$	195		$	212		$	215		$	189		$	181

Revenue (GAAP)	m	$	862		$	888		$	889		$	830		$	812
Taxable-equivalent adjustment		3			3			3			4			3
Revenue- Taxable-equivalent (Non-GAAP)		865			892			893			833			816
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted revenue (Non-GAAP)	n	$	865		$	892		$	893		$	833		$	816

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

Noninterest income as a % of total revenue (GAAP)	(k-o)/(m-o)	22.63		%	23.89		%	24.16		%	22.73		%	22.29		%
Adjusted noninterest income as a % of total revenue (Non-GAAP)	(l-o)/(n-o)	22.55		%	23.80		%	24.07		%	22.63		%	22.20		%

Adjusted Efficiency Ratio
Noninterest expense (GAAP)	p	$	505		$	545		$	551		$	491		$	488
Plus notable items (pretax) (GAAP) (a)		—			(3)			(8)			4			(6)
Adjusted noninterest expense (Non-GAAP)	q	$	505		$	541		$	542		$	495		$	482

Revenue (GAAP)	r	$	862		$	888		$	889		$	830		$	812
Taxable-equivalent adjustment		3			3			3			4			3
Revenue- Taxable-equivalent (Non-GAAP)		865			892			893			833			816
Plus notable items (pretax) (GAAP) (a)		—			—			—			—			—
Adjusted revenue (Non-GAAP)	s	$	865		$	892		$	893		$	833		$	816

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

Efficiency ratio (GAAP)	p/ (r-t)	58.54		%	61.33		%	61.92		%	59.20		%	60.06		%
Adjusted efficiency ratio (Non-GAAP)	q/ (s-t)	58.34		%	60.73		%	60.76		%	59.47		%	59.09		%

(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
	1Q26		4Q25		1Q26 vs. 4Q25				1Q26		4Q25		1Q26 vs. 4Q25










Loans excluding LMC
Total Loans (GAAP)	$	64,377	$	64,156	$	221	—	%	$	63,192	$	63,432	$	(240)	—	%
LMC (GAAP)	4,641		4,703		(62)		(1)	%	3,884		4,160		(275)		(7)	%
Total Loans excl. LMC (Non-GAAP)	59,736		59,453		283		—	%	59,308		59,273		35		—	%
Total Consumer (GAAP)	14,490		14,688		(198)		(1)	%	14,567		14,841		(274)		(2)	%
Total Commercial excl. LMC (Non-GAAP)	45,246		44,765		481		1	%	44,741		44,432		309		1	%
Total CRE (GAAP)	13,420		13,563		(143)		(1)	%	13,417		13,587		(170)		(1)	%
Total C&I excl. LMC (Non-GAAP)	$	31,826	$	31,202	$	624	2	%	$	31,324	$	30,845	479		2	%

Numbers may not total due to rounding.



		1Q26			4Q25			3Q25			2Q25			1Q25
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	$	730		$	738		$	777		$	814		$	822
Reserve for unfunded commitments (GAAP)		96			101			93			87			83
Allowance for credit losses (Non-GAAP)	B	$	826		$	839		$	870		$	901		$	905

Loans and leases (GAAP)	C	$	64,377		$	64,156		$	63,058		$	63,260		$	62,215
Nonaccrual loans and leases (GAAP)	D	$	606		$	604		$	605		$	593		$	609

Allowance for loans and lease losses to loans and leases (GAAP)	A/C	1.13		%	1.15		%	1.23		%	1.29		%	1.32		%
Allowance for credit losses to loans and leases (Non-GAAP)	B/C	1.28		%	1.31		%	1.38		%	1.42		%	1.45		%

Allowance for loans and lease losses to nonperforming loans and leases (GAAP)	A/D	120		%	122		%	128		%	137		%	135		%
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)	B/D	136		%	139		%	144		%	152		%	148		%

Numbers may not total due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($ in millions)

	1Q26		4Q25		3Q25		2Q25		1Q25
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)	$	342	$	343	$	344	$	309	$	285
Plus notable items (pretax) (GAAP) (a)	—		3		8		(4)		6
Adjusted Pre-tax income (non-GAAP)	$	342	$	347	$	352	$	304	$	290
Plus provision for credit losses expense (GAAP)	15		—		(5)		30		40
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)	$	357	$	347	$	347	$	334	$	330
Taxable-equivalent adjustment	3		3		3		4		3
Adjusted Pre-provision net revenue-Taxable-equivalent (Non-GAAP)	$	360	$	350	$	351	$	338	$	334

(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