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FHN · Current Report (Form 8-K) · Filed July 15, 2026

First Horizon Corp — 8-K exhibit

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First Horizon Corp on Boardroom Alpha
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First Horizon Corporation Delivers Strong Second Quarter 2026 Results
with Net Income Available to Common Shareholders of $260 Million, up 12% year-over-year
and EPS of $0.54, up $0.09 from Second Quarter 2025


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

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

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


Notable Items
Notable Items
Quarterly, Unaudited ($ in millions, except per share data)2Q261Q262Q25
Summary of Notable Items:
Deferred compensation adjustment$— $— $4 
FDIC special assessment (other noninterest expense)— — 1 
Other notable expenses (5)— — 
Total notable items (pre-tax)$(5)$— $4 
Tax on notable items before preferred stock dividends$1 $— $(1)
Preferred Stock Dividend **$3 $— $— 
Total notable items (after-tax) $(1)$— $3 
Numbers may not total due to rounding.
Second quarter pre-tax notable items included a $5 million impact related to Visa derivative valuation expenses. Second quarter after-tax notable items include $3 million of deemed dividend impacts related to the redemption of preferred stock.





* "Adjusted" results, along with return on tangible common equity, tangible book value per share, and certain other financial measures, are
non-GAAP financial measures. All references to loans include leases. All references to earnings per share are based on diluted shares. NII, total revenue, NIM, and PPNR are presented on a fully taxable equivalent ("FTE") basis. Capital ratios are preliminary. Please see page 4 for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 20.
1


Second Quarter 2026 versus First Quarter 2026

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

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

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

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

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

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

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

Income taxes
The second quarter 2026 effective and adjusted tax rate was 19.5%, compared to 22.2% in the previous quarter.
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SUMMARY RESULTS
Quarterly, Unaudited
2Q26 Change vs.
($ in millions, except per share and balance sheet data)2Q261Q262Q251Q262Q25
$/bp%$/bp%
Income Statement
Interest income - taxable equivalent1
$1,033 $1,008 $1,047 $26 3 %$(14)(1)%
Interest expense- taxable equivalent1
354 337 403 17 5 (49)(12)
Net interest income- taxable equivalent679 670 645 9 1 35 5 
Less: Taxable-equivalent adjustment3 3 4 — 3 — (13)
Net interest income676 667 641 9 1 35 5 
Noninterest income211 195 189 16 8 22 12 
      Total revenue887 862 830 25 3 57 7 
Noninterest expense531 505 491 26 5 40 8 
Pre-provision net revenue3
356 357 339 (1)— 17 5 
Provision for credit losses15 15 30 — — (15)(50)
Income before income taxes341 342 309 (1)— 32 10 
Provision for income taxes66 76 64 (10)(13)2 4 
Net income274 266 244 8 3 30 12 
Net income attributable to noncontrolling interest4 3 4 — 4 — (10)
Net income attributable to controlling interest271 263 240 8 3 30 13 
Preferred stock dividends10 5 8 5 103 3 34 
Net income available to common shareholders$260 $257 $233 $3 1 %$28 12 %
Adjusted net income4
$278 $266 $241 $12 5 %$37 16 %
Adjusted net income available to common shareholders4
$262 $257 $229 $5 2 %$33 14 %
Common stock information
EPS$0.54 $0.53 $0.45 $0.01 2 %$0.09 20 %
Adjusted EPS4
$0.54 $0.53 $0.45 $0.01 2 %$0.09 20 %
Diluted shares8
480 487 514 (7)(1)%(34)(7)%
Key performance metrics
Net interest margin6
3.49 %3.52 %3.40 %(3)bp9 bp
Efficiency ratio59.88 58.54 59.20 134 bp68 bp
Adjusted efficiency ratio4
59.11 58.34 59.47 77 bp(36)bp
Effective income tax rate19.47 22.21 20.78 (274)bp(131)bp
Return on average assets1.31 1.30 1.20 1 bp11 bp
Adjusted return on average assets4
1.33 1.30 1.18 3 bp15 bp
Return on average common equity (“ROCE")12.3 12.3 11.1 7 bp119 bp
Return on average tangible common equity (“ROTCE”)4
15.2 15.1 13.8 9 bp136 bp
Adjusted ROTCE4
15.3 15.1 13.6 17 bp164 bp
Noninterest income as a % of total revenue23.73 22.63 22.73 110 bp100 bp
Adjusted noninterest income as a % of total revenue4
23.65 %22.55 %22.63 %110 bp102 bp
Balance Sheet (billions)
Average loans$64.7 $63.2 $62.6 $1.5 2 %$2.1 3 %
Average deposits66.8 66.2 64.7 0.6 1 2.0 3 
Average assets84.1 83.0 82.0 1.1 1 2.1 3 
Average common equity$8.5 $8.5 $8.4 $— (1)%$0.1 1 %
Asset Quality Highlights
Allowance for loan and lease losses to loans and leases1.09 %1.13 %1.29 %(4)bp— (20)bp
Allowance for credit losses to loans and leases4
1.24 %1.28 %1.42 %(4)bp(18)bp
Nonperforming loans and leases ratio0.81 %0.94 %0.94 %(13)bp(13)bp
Net charge-off ratio0.20 %0.18 %0.22 %2 bp(2)bp
Net charge-offs$33 $29 $34 $4 14 %$(1)(3)%
Capital Ratio Highlights (current quarter is an estimate)
Common Equity Tier 110.5 %10.5 %11.0 %(7)bp(53)bp
Tier 111.8 11.9 12.0 (17)bp(23)bp
Total Capital13.4 13.7 14.0 (36)bp(56)bp
Tier 1 leverage10.5 %10.6 %10.6 %(12)bp(5)bp
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.

3

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

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

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

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

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

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

Refer to the tabular reconciliation of non-GAAP to GAAP measures and presentation of the most comparable GAAP items, beginning on page 20.
4

Conference Call Information
Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on July 15, 2026, by dialing 1-833-461-5787 (if calling from the U.S.) and entering access code 702071053. The conference call will begin at 8:30 a.m. CT.

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

A replay of the webcast will be available on our website on July 15 and will be archived on the site for one year.

First Horizon Corporation (NYSE: FHN), with $84.4 billion in assets as of June 30, 2026, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

Contact: Investor Relations - Tyler Craft - Tyler.Craft@firsthorizon.com
Media Relations - Beth Ardoin - Beth.Ardoin@firsthorizon.com
5

CONSOLIDATED INCOME STATEMENT
Quarterly, Unaudited
     2Q26 Change vs.
($ in millions, except per share data)2Q261Q264Q253Q252Q251Q262Q25
$ %$ %
Interest income - taxable equivalent1
$1,033 $1,008 $1,054 $1,081 $1,047 $26 3 %$(14)(1)%
Interest expense - taxable equivalent1
354 337 375 403 403 17 5 (49)(12)
Net interest income - taxable equivalent679 670 679 678 645 9 1 35 5 
Less: Taxable - equivalent adjustment3 3 3 3 4 — 3 — (13)
Net interest income676 667 676 674 641 9 1 35 5 
Noninterest income:
Fixed income46 53 57 57 42 (7)(14)4 8 
Mortgage banking9 9 10 15 10 — 2 — (3)
Brokerage, trust, and insurance45 43 41 39 39 3 7 7 17 
Service charges and fees59 58 64 57 55 — — 4 6 
Card and digital banking fees18 18 18 19 19 — (2)(1)(6)
Deferred compensation income9
15 (3)3 8 8 18 NM 7 97 
Securities gains/(losses)— (1)— — — 1 141 — 72 
Other noninterest income18 16 18 19 16 2 12 2 14 
Total noninterest income211 195 212 215 189 16 8 22 12 
Total revenue887 862 888 889 830 25 3 57 7 
Noninterest expense:
Personnel expense:
Salaries and benefits215 211 213 209 206 4 2 9 4 
Incentives and commissions76 79 87 79 73 (3)(4)3 5 
Deferred compensation expense9
13 (2)3 8 3 14 NM 10 NM
Total personnel expense304 289 303 296 282 16 5 22 8 
Occupancy and equipment2
86 84 83 80 79 2 3 7 9 
Outside services79 69 95 79 71 10 15 9 12 
Amortization of intangible assets8 8 9 9 10 — — (2)(16)
Other noninterest expense53 55 55 87 50 (3)(5)3 6 
Total noninterest expense531 505 545 551 491 26 5 40 8 
Pre-provision net revenue3
356 357 343 339 339 (1)— 17 5 
Provision for credit losses15 15 — (5)30 — — (15)(50)
Income before income taxes341 342 343 344 309 (1)— 32 10 
Provision for income taxes66 76 78 78 64 (10)(13)2 4 
Net income274 266 266 266 244 8 3 30 12 
Net income attributable to noncontrolling interest4 3 4 4 4 — 4 — (10)
Net income attributable to controlling interest271 263 262 262 240 8 3 30 13 
Preferred stock dividends10 5 5 8 8 5 103 3 34 
Net income available to common shareholders$260 $257 $257 $254 $233 $3 1 %$28 12 %
Common Share Data
EPS$0.55 $0.54 $0.52 $0.50 $0.46 $0.01 2 %$0.09 20 %
Basic shares475 480 491 505 508 (5)(1)(33)(7)
Diluted EPS$0.54 $0.53 $0.52 $0.50 $0.45 $0.01 2 $0.09 20 
Diluted shares8
480 487 496 510 514 (7)(1)%(34)(7)%
Effective tax rate19.5 %22.2 %22.6 %22.7 %20.8 %
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
6


ADJUSTED4 FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 8
Quarterly, Unaudited
     2Q26 Change vs.
($ in millions, except per share data)2Q261Q264Q253Q252Q251Q262Q25
$%$%
Net interest income (FTE)1
$679 $670 $679 $678 $645 $9 1 %$35 5 %
Adjusted noninterest income:
Fixed income46 53 57 57 42 (7)(14)4 8 
Mortgage banking9 9 10 15 10 — 2 — (3)
Brokerage, trust, and insurance45 43 41 39 39 3 7 7 17 
Service charges and fees59 58 64 57 55 — — 4 6 
Card and digital banking fees18 18 18 19 19 — (2)(1)(6)
Deferred compensation income9
15 (3)3 8 8 18 NM 7 97 
Adjusted securities gains/(losses)— (1)— — — 1 141 — 72 
Adjusted other noninterest income18 16 18 19 16 2 12 2 14 
Adjusted total noninterest income$211 $195 $212 $215 $189 $16 8 %$22 12 %
Total revenue (FTE)1
$890 $865 $892 $893 $833 $25 3 %$57 7 %
Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits$215 $211 $213 $209 $206 $4 2 %$9 4 %
Adjusted Incentives and commissions76 79 87 79 73 (3)(4)3 5 
Deferred compensation expense9
13 (2)3 8 7 14 NM 6 98 
Adjusted total personnel expense304 289 303 296 286 16 5 19 7 
Adjusted occupancy and equipment2
86 84 83 80 79 2 3 7 9 
Adjusted outside services79 69 95 79 71 10 15 9 12 
Amortization of intangible assets8 8 9 9 10 — — (2)(16)
Adjusted other noninterest expense48 55 52 79 50 (8)(14)(3)(6)
Adjusted total noninterest expense$526 $505 $541 $542 $495 $21 4 %$30 6 %
Adjusted pre-provision net revenue4
$364 $360 $350 $351 $338 $4 1 %$26 8 %
Provision for credit losses$15 $15 $— $(5)$30 $— — %$(15)(50)%
Adjusted net income available to common shareholders$262 $257 $259 $263 $229 $5 2 %$33 14 %
Adjusted Common Share Data
Adjusted diluted EPS$0.54 $0.53 $0.52 $0.51 $0.45 $0.01 2 %$0.09 20 %
Diluted shares8
480 487 496 510 514 (7)(1)%(34)(7)%
Adjusted effective tax rate19.5 %22.2 %22.7 %22.7 %20.8 %
Adjusted ROTCE4
15.3 %15.1 %15.0 %15.0 %13.6 %
Adjusted efficiency ratio4
59.1 %58.3 %60.7 %60.8 %59.5 %
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.







7

NOTABLE ITEMS
Quarterly, Unaudited
(In millions)2Q261Q264Q253Q252Q25
Summary of Notable Items:
Deferred compensation adjustment$— $— $— $— $4 
FDIC special assessment (other noninterest expense)— — 7 2 1 
Other notable expenses *(5)— (10)(10)— 
Total notable items (pre-tax)$(5)$— $(3)$(8)$4 
Tax-related notable items $— $— $— $— $— 
Preferred Stock Dividend **$3 $— $— $(3)$— 
Numbers may not total due to rounding.
* 2Q26 includes $5 million of Visa derivative valuation expenses and 4Q25 and 3Q25 each include $10 million.
** 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock.








IMPACT OF NOTABLE ITEMS:
Quarterly, Unaudited
     
($ in millions, except per share data)2Q261Q264Q253Q252Q25
Impacts of Notable Items:
Noninterest expense:
Personnel expenses:
Deferred compensation expense$— $— $— $— $4 
Total personnel expenses— — — — 4 
Outside services— — — — — 
Other noninterest expense(5)— (3)(8)1 
Total noninterest expense$(5)$— $(3)$(8)$4 
Income before income taxes$5 $— $3 $8 $(4)
Provision for income taxes1 — 1 2 (1)
Preferred stock dividends *3 — — (3)— 
Net income/(loss) available to common shareholders$1 $— $2 $9 $(3)
EPS impact of notable items$— $— $— $0.01 $— 
Numbers may not total due to rounding.
* 2Q26 and 3Q25 include deemed dividends on the redemption of Preferred Stock.
8


FINANCIAL RATIOS
Quarterly, Unaudited
     2Q26 Change vs.
2Q261Q264Q253Q252Q251Q262Q25
FINANCIAL RATIOS$/bp%$/bp%
Net interest margin6
3.49 %3.52 %3.51 %3.55 %3.40 %(3)bp9 bp
Return on average assets1.31 %1.30 %1.27 %1.29 %1.20 %1 bp11 bp
Adjusted return on average assets4
1.33 %1.30 %1.28 %1.32 %1.18 %3 bp15 bp
Return on average common equity (“ROCE”)12.33 %12.26 %11.99 %11.74 %11.14 %7 bp119 bp
Return on average tangible common equity (“ROTCE”)4
15.21 %15.12 %14.82 %14.49 %13.85 %9 bp136 bp
Adjusted ROTCE4
15.29 %15.12 %14.96 %15.00 %13.65 %17 bp164 bp
Noninterest income as a % of total revenue23.73 %22.63 %23.89 %24.16 %22.73 %110 bp100 bp
Adjusted noninterest income as a % of total revenue4
23.65 %22.55 %23.80 %24.07 %22.63 %110 bp102 bp
Efficiency ratio59.88 %58.54 %61.33 %61.92 %59.20 %134 bp68 bp
Adjusted efficiency ratio4
59.11 %58.34 %60.73 %60.76 %59.47 %77 bp(36)bp
Allowance for loan and lease losses to loans and leases1.09 %1.13 %1.15 %1.23 %1.29 %(4)bp(20)bp
Allowance for credit losses to loans and leases4
1.24 %1.28 %1.31 %1.38 %1.42 %(4)bp(18)bp
CAPITAL DATA
CET1 capital ratio*
10.5 %10.5 %10.6 %11.0 %11.0 %(7)bp(53)bp
Tier 1 capital ratio*11.8 %11.9 %11.5 %11.9 %12.0 %(17)bp(23)bp
Total capital ratio*13.4 %13.7 %13.3 %13.8 %14.0 %(36)bp(56)bp
Tier 1 leverage ratio*10.5 %10.6 %10.2 %10.5 %10.6 %(12)bp(5)bp
Risk-weighted assets (“RWA”) (billions)*$74.6 $73.3 $73.0 $72.0 $71.7 $1.2 2 %$2.8 4 %
Total equity to total assets 11.21 %11.25 %10.90 %11.11 %11.28 %(4)bp(7)bp
Tangible common equity/tangible assets (“TCE/TA”)4
8.31 %8.27 %8.37 %8.55 %8.58 %4 bp(27)bp
Period-end shares outstanding (millions)8
474 476 485 500 509 (2)— %(35)(7)%
Cash dividends declared per common share$0.17 $0.17 $0.15 $0.15 $0.15 $— — %$0.02 13 %
Book value per common share$17.91 $17.72 $17.53 $17.19 $16.78 $0.19 1 %$1.13 7 %
Tangible book value per common share4
$14.53 $14.34 $14.20 $13.94 $13.57 $0.19 1 %$0.96 7 %
SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)95.97 %96.83 %95.08 %96.23 %96.47 %(86)bp(50)bp
Loans-to-deposit ratio (average balances)96.87 %95.44 %95.33 %95.24 %96.62 %143 bp25 bp
Full-time equivalent associates7,422 7,369 7,373 7,341 7,255 53 1 %167 2 %
*Current quarter is an estimate.
See footnote disclosures on page 19 and glossary of terms on page 25.
9


CONSOLIDATED PERIOD-END BALANCE SHEET
Quarterly, Unaudited 
     2Q26 Change vs.
(In millions)2Q261Q264Q253Q252Q251Q262Q25
Assets:$%$%
Loans and leases:      
Commercial, financial, and industrial (C&I)$37,296 $36,467 $35,905 $34,401 $34,359 $829 2 %$2,936 9 %
Commercial real estate13,595 13,420 13,563 13,674 13,936 175 1 (341)(2)
Total Commercial50,891 49,887 49,468 48,076 48,295 1,004 2 2,596 5 
Consumer real estate13,869 13,928 14,107 14,403 14,368 (59)— (498)(3)
Credit card and other5
570 562 580 579 597 8 1 (27)(5)
Total Consumer14,439 14,490 14,688 14,982 14,965 (50)— (525)(4)
Loans and leases, net of unearned income65,330 64,377 64,156 63,058 63,260 953 1 2,070 3 
Loans held for sale501 562 406 501 402 (61)(11)99 25 
Investment securities9,062 9,351 9,382 9,332 9,362 (289)(3)(300)(3)
Trading securities1,417 1,812 1,904 2,070 1,430 (395)(22)(13)(1)
Interest-bearing deposits with banks1,158 1,116 1,125 1,228 911 43 4 247 27 
Federal funds sold and securities purchased under agreements to resell594 754 634 774 527 (160)(21)67 13 
Total interest earning assets78,063 77,971 77,606 76,963 75,893 92 — 2,170 3 
Cash and due from banks1,034 889 961 912 988 145 16 46 5 
Goodwill and other intangible assets, net1,599 1,607 1,615 1,624 1,633 (8)(1)(34)(2)
Premises and equipment, net545 539 544 553 561 5 1 (17)(3)
Allowance for loan and lease losses(709)(730)(738)(777)(814)21 3 105 13 
Other assets3,906 3,855 3,889 3,916 3,823 51 1 83 2 
Total assets$84,437 $84,132 $83,876 $83,192 $82,084 $306 — %$2,354 3 %
Liabilities and Shareholders' Equity:
Deposits:
Savings$25,553 $26,007 $26,010 $26,365 $25,939 $(454)(2)%$(386)(1)%
Time deposits10,018 7,125 6,485 6,201 7,270 2,893 41 2,749 38 
Other interest-bearing deposits16,508 17,440 19,158 16,936 16,477 (933)(5)31 — 
Total interest-bearing deposits52,078 50,572 51,653 49,502 49,685 1,506 3 2,393 5 
Trading liabilities533 666 607 662 469 (134)(20)63 14 
Federal funds purchased and securities sold under agreements to repurchase2,161 2,193 3,012 2,675 3,201 (32)(1)(1,040)(32)
Short-term borrowings842 1,975 241 1,596 260 (1,132)(57)582 NM
Term borrowings1,321 1,318 1,321 1,328 1,342 2 — (21)(2)
Total interest-bearing liabilities56,935 56,725 56,835 55,763 54,957 210 — 1,978 4 
Noninterest-bearing deposits15,994 15,910 15,823 16,023 15,892 84 1 103 1 
Other liabilities2,045 2,032 2,076 2,163 1,978 13 1 67 3 
Total liabilities74,974 74,667 74,734 73,948 72,826 307 — 2,148 3 
Shareholders' Equity:
Preferred stock10
682 741 349 349 426 (59)(8)255 60 
Common stock296 297 303 313 318 (1)— (22)(7)
Capital surplus3,653 3,759 3,974 4,288 4,459 (106)(3)(805)(18)
Retained earnings5,383 5,205 5,030 4,848 4,671 178 3 713 15 
Accumulated other comprehensive loss, net(846)(832)(809)(849)(912)(13)(2)66 7 
Combined shareholders' equity9,168 9,170 8,847 8,949 8,962 (1)— 206 2 
Noncontrolling interest295 295 295 295 295 — — — — 
Total shareholders' equity9,464 9,465 9,142 9,244 9,257 (1)— 206 2 
Total liabilities and shareholders' equity$84,437 $84,132 $83,876 $83,192 $82,084 $306 — %$2,354 3 %
Memo:
Total deposits$68,073 $66,482 $67,477 $65,525 $65,576 $1,590 2 %$2,496 4 %
Loans to mortgage companies$4,759 $4,641 $4,703 $3,926 $4,058 $118 3 %$701 17 %
Unfunded Loan Commitments:
Commercial$20,164 $18,980 $18,644 $18,485 $17,784 $1,184 6 %$2,381 13 %
Consumer$4,016 $4,022 $4,002 $4,036 $4,153 $(6)— %$(137)(3)%
Numbers may not total due to rounding. See footnote disclosures on page 19 and glossary of terms on page 25.
10

CONSOLIDATED AVERAGE BALANCE SHEET
Quarterly, Unaudited
     2Q26 Change vs.
(In millions)2Q261Q264Q253Q252Q251Q262Q25
Assets:$%$%
Loans and leases:      
Commercial, financial, and industrial (C&I)$36,745 $35,208 $35,005 $34,011 $33,634 $1,537 4 %$3,111 9 %
Commercial real estate13,510 13,417 13,587 13,772 14,070 93 1 (560)(4)
Total Commercial50,256 48,625 48,591 47,784 47,704 1,631 3 2,551 5 
Consumer real estate13,873 13,998 14,255 14,409 14,224 (126)(1)(351)(2)
Credit card and other5
566 569 586 594 623 (2)— (56)(9)
Total Consumer14,439 14,567 14,841 15,004 14,847 (128)(1)(408)(3)
Loans and leases, net of unearned income64,695 63,192 63,432 62,787 62,551 1,503 2 2,144 3 
Loans held-for-sale532 479 515 454 501 53 11 30 6 
Investment securities9,218 9,454 9,321 9,321 9,330 (236)(2)(112)(1)
Trading securities1,677 1,796 1,798 1,625 1,609 (118)(7)68 4 
Interest-bearing deposits with banks1,168 1,233 1,218 1,272 1,259 (65)(5)(91)(7)
Federal funds sold and securities purchased under agreements to resell669 756 743 573 636 (87)(11)33 5 
Total interest earning assets77,960 76,910 77,027 76,032 75,887 1,050 1 2,073 3 
Cash and due from banks923 936 900 860 864 (13)(1)59 7 
Goodwill and other intangible assets, net1,603 1,611 1,619 1,628 1,638 (8)(1)(35)(2)
Premises and equipment, net544 543 548 556 565 — — (22)(4)
Allowance for loan and lease losses(732)(750)(774)(809)(828)18 2 96 12 
Other assets3,799 3,795 3,760 3,781 3,831 4 — (32)(1)
Total assets$84,097 $83,045 $83,081 $82,049 $81,958 $1,052 1 %$2,139 3 %
Liabilities and shareholders' equity:
Deposits:
Savings$25,618 $26,148 $26,693 $26,326 $25,899 $(530)(2)%$(281)(1)%
Time deposits8,501 6,755 6,205 6,871 6,630 1,746 26 1,871 28 
Other interest-bearing deposits16,914 17,679 17,573 16,866 16,362 (765)(4)552 3 
Total interest-bearing deposits51,033 50,582 50,470 50,063 48,891 451 1 2,142 4 
Trading liabilities645 729 722 549 613 (83)(11)33 5 
Federal funds purchased and securities sold under agreements to repurchase2,518 2,649 2,807 2,631 2,692 (132)(5)(174)(6)
Short-term borrowings1,400 894 470 387 1,208 507 57 192 16 
Term borrowings1,319 1,319 1,323 1,335 1,556 — — (238)(15)
Total interest-bearing liabilities56,916 56,173 55,792 54,965 54,960 742 1 1,956 4 
Noninterest-bearing deposits15,749 15,628 16,072 15,862 15,851 121 1 (102)(1)
Other liabilities1,988 1,999 2,082 1,999 2,050 (11)(1)(61)(3)
Total liabilities74,652 73,800 73,946 72,825 72,861 853 1 1,792 2 
Shareholders' Equity:
Preferred stock10
682 436 349 350 426 246 56 255 60 
Common stock 297 300 307 316 318 (3)(1)(21)(7)
Capital surplus3,703 3,866 4,095 4,379 4,464 (163)(4)(761)(17)
Retained earnings5,310 5,129 4,910 4,798 4,562 181 4 748 16 
Accumulated other comprehensive loss, net(842)(781)(821)(913)(967)(61)(8)125 13 
Combined shareholders' equity9,149 8,950 8,840 8,928 8,802 199 2 347 4 
Noncontrolling interest295 295 295 295 295 — — — — 
Total shareholders' equity9,444 9,245 9,135 9,224 9,097 199 2 347 4 
Total liabilities and shareholders' equity$84,097 $83,045 $83,081 $82,049 $81,958 $1,052 1 %$2,139 3 %
Memo:
Total deposits$66,782 $66,210 $66,542 $65,924 $64,742 $572 1 %$2,040 3 %
Loans to mortgage companies$4,284 $3,884 $4,160 $3,628 $3,533 $399 10 %$751 21 %
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
11

CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES
Quarterly, Unaudited 
   2Q26 Change vs.
2Q261Q264Q253Q252Q251Q262Q25
(In millions, except rates)Income/ExpenseRateIncome/ExpenseRateIncome/ExpenseRateIncome/ExpenseRateIncome/ExpenseRateIncome/ExpenseIncome/Expense
$/bp%$/bp%
Interest earning assets/Interest income:   
Loans and leases, net of unearned income:
Commercial$735 5.87 %$707 5.89 %$743 6.07 %$767 6.37 %$738 6.21 %$28 4 %$(3)— %
Consumer180 4.97 181 4.99 187 5.02 191 5.07 186 4.99 (2)(1)(6)(3)
Loans and leases, net of unearned income915 5.67 887 5.68 930 5.83 957 6.06 924 5.92 27 3 (9)(1)
Loans held-for-sale8 6.18 7 6.26 8 6.45 8 6.86 8 6.76 1 10 — (3)
Investment securities70 3.05 71 3.02 71 3.06 72 3.09 71 3.06 (1)(2)(1)(2)
Trading securities23 5.55 24 5.25 25 5.57 24 5.81 23 5.72 — (1)— 1 
Interest-bearing deposits with banks11 3.69 11 3.69 12 3.97 14 4.41 14 4.45 — (4)(3)(23)
Federal funds sold and securities purchased under agreements6 3.56 7 3.55 7 3.86 6 4.20 7 4.24 (1)(10)(1)(11)
Interest income$1,033 5.31 %$1,008 5.29 %$1,054 5.44 %$1,081 5.65 %$1,047 5.53 %$26 3 %$(14)(1)%
Interest-bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings$138 2.17 %$138 2.14 %$169 2.51 %$184 2.78 %$177 2.73 %$— — %$(38)(22)%
Time deposits74 3.48 56 3.39 55 3.49 64 3.71 64 3.88 17 31 10 15 
Other interest-bearing deposits84 1.99 89 2.04 98 2.22 102 2.41 96 2.36 (5)(6)(12)(13)
Total interest-bearing deposits296 2.33 284 2.28 322 2.53 351 2.78 337 2.76 12 4 (41)(12)
Trading liabilities6 4.00 7 3.81 7 3.76 5 3.93 6 4.07 — (6)— 4 
Federal funds purchased and securities sold under agreements to repurchase19 3.09 20 2.98 23 3.21 23 3.52 24 3.61 — (1)(5)(20)
Short-term borrowings13 3.83 8 3.78 5 4.08 4 4.39 13 4.47 5 61 — — 
Term borrowings19 5.65 19 5.65 19 5.76 19 5.82 22 5.60 — — (3)(14)
Interest expense354 2.49 337 2.43 375 2.67 403 2.91 403 2.94 17 5 (49)(12)
Net interest income - tax equivalent basis679 2.82 670 2.86 679 2.77 678 2.74 645 2.59 9 1 35 5 
Fully taxable equivalent adjustment(3)0.67 (3)0.66 (3)0.74 (3)0.81 (4)0.81 — (3)— 13 
Net interest income$676 3.49 %$667 3.52 %$676 3.51 %$674 3.55 %$641 3.40 %$9 1 %$35 5 %
Memo:
Total loan yield5.67 %5.68 %5.83 %6.06 %5.92 %(1)bp(25)bp
Total deposit cost1.78 %1.74 %1.92 %2.11 %2.09 %4 bp(31)bp
Total funding cost1.95 %1.90 %2.07 %2.26 %2.28 %5 bp(33)bp
Average loans and leases, net of unearned income$64,695 $63,192 $63,432 $62,787 $62,551 $1,503 2 %$2,144 3 %
Average deposits66,78266,21066,54265,92464,742572 1 %2,040 3 %
Average funded liabilities72,66471,80171,86470,82770,811$863 1 %$1,853 3 %
Net interest income and yields are adjusted to a fully taxable equivalent (“FTE”) basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes.
Earning assets yields are expressed net of unearned income.
Loan yields include loan fees, cash basis interest income, and loans on nonaccrual status.
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
12

CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")
Quarterly, Unaudited 
As of 2Q26 change vs.
(In millions, except ratio data)2Q261Q264Q253Q252Q251Q262Q25
$%$%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)$205 $219 $224 $211 $224 $(13)(6)%$(19)(9)%
Commercial real estate184 243 239 254 236 (58)(24)(52)(22)
Consumer real estate141 144 140 139 131 (3)(2)10 8 
Credit card and other5
1 1 1 1 1 — (30)— (40)
Total nonperforming loans and leases$531 $606 $604 $605 $593 $(75)(12)%$(62)(10)%
Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)0.55 %0.60 %0.62 %0.61 %0.65 %
Commercial real estate1.36 1.81 1.76 1.86 1.70 
Consumer real estate1.02 1.03 0.99 0.96 0.91 
Credit card and other5
0.13 0.19 0.16 0.25 0.21 
Total nonperforming loans and leases to loans and leases0.81 %0.94 %0.94 %0.96 %0.94 %
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.



CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING
Quarterly, Unaudited
As of2Q26 change vs.
(In millions)2Q261Q264Q253Q252Q251Q262Q25
$%$%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)$1 $1 $1 $1 $1 $— 2 %$— 37 %
Commercial real estate— — — — — — NM — NM
Consumer real estate— 2 6 6 6 (1)(65)(6)(91)
Credit card and other5
1 1 1 2 1 — 21 — (35)
Total loans and leases 90 days or more past due and accruing$2 $3 $8 $9 $8 $(1)(28)%$(6)(73)%
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
13


CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)
Quarterly, Unaudited
As of2Q26 change vs.
(In millions, except ratio data)2Q261Q264Q253Q252Q251Q262Q25
Charge-off, Recoveries and Related Ratios$%$%
Gross Charge-offs
Commercial, financial, and industrial (C&I)$32 $36 $39 $25 $28 $(4)(11)%$4 16 %
Commercial real estate3 4 2 3 8 (1)(18)(5)(61)
Consumer real estate1 1 1 1 2 (1)(35)(1)(47)
Credit card and other5
5 4 4 6 6 — 9 (1)(24)
Total gross charge-offs$41 $45 $47 $36 $43 $(5)(11)%$(2)(6)%
Gross Recoveries
Commercial, financial, and industrial (C&I)$(5)$(14)$(13)$(6)$(6)$9 65 %$1 22 %
Commercial real estate— — — — — — 13 — NM
Consumer real estate(2)(2)(2)(1)(2)— 18 — 1 
Credit card and other5
(1)(1)(1)(1)(2)— (22)— 21 
Total gross recoveries$(8)$(17)$(16)$(9)$(9)$9 54 %$1 15 %
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I)$27 $23 $26 $19 $22 $5 20 %$6 26 %
Commercial real estate3 3 2 3 8 (1)(18)(5)(64)
Consumer real estate(1)— (1)(1)— — (38)(1)NM
Credit card and other5
4 3 3 5 4 — 4 (1)(25)
Total net charge-offs$33 $29 $30 $26 $34 $4 14 %$(1)(3)%
Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I)0.30 %0.26 %0.30 %0.22 %0.26 %
Commercial real estate0.08 0.10 0.04 0.09 0.22 
Consumer real estate(0.02)(0.01)(0.02)(0.02)— 
Credit card and other5
2.17 2.10 2.31 3.54 2.64 
Total loans and leases0.20 %0.18 %0.19 %0.17 %0.22 %
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
14


CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS
Quarterly, Unaudited
As of2Q26 Change vs.
(In millions)2Q261Q264Q253Q252Q251Q262Q25
Summary of Changes in the Components of the Allowance For Credit Losses$%$%
Allowance for loan and lease losses - beginning$730 $738 $777 $814 $822 $(9)(1)%$(93)(11)%
Charge-offs:
Commercial, financial, and industrial (C&I)(32)(36)(39)(25)(28)4 11 (4)(16)
Commercial real estate(3)(4)(2)(3)(8)1 18 5 61 
Consumer real estate(1)(1)(1)(1)(2)1 35 1 47 
Credit card and other5
(5)(4)(4)(6)(6)— (9)1 24 
Total charge-offs(41)(45)(47)(36)(43)5 11 2 6 
Recoveries:
Commercial, financial, and industrial (C&I)5 14 13 6 6 (9)(65)(1)(22)
Commercial real estate— — — — — — (13)— NM
Consumer real estate2 2 2 1 2 — (18)— (1)
Credit card and other5
1 1 1 1 2 — 22 — (21)
Total Recoveries8 17 16 9 9 (9)(54)(1)(15)
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I)24 41 28 5 23 (16)(40)1 4 
Commercial real estate(3)(17)(26)(5)(5)13 78 1 17 
Consumer real estate(12)(6)(13)(15)4 (5)(84)(16)NM
Credit card and other5
3 3 3 4 3 — 5 — (13)
Total provision for loan and lease losses:
12 20 (8)(11)26 (8)(40)(14)(53)
Allowance for loan and lease losses - ending$709 $730 $738 $777 $814 $(21)(3)%$(105)(13)%
Reserve for unfunded commitments - beginning$96 $101 $93 $87 $83 $(5)(5)%$13 16 %
Provision for unfunded commitments3 (5)8 6 4 8 NM (1)(25)
Reserve for unfunded commitments - ending$99 $96 $101 $93 $87 $3 3 %$12 14 %
Total allowance for credit losses - ending$808 $826 $839 $870 $901 $(18)(2)%$(93)(10)%
Numbers may not total due to rounding.
See footnote disclosures on page 19 and glossary of terms on page 25.
15


CONSOLIDATED ASSET QUALITY RATIOS - ALLOWANCE FOR LOAN AND LEASE LOSSES
Quarterly, Unaudited
As of
2Q261Q264Q253Q252Q25
Allowance for loan and lease losses to loans and leases
Commercial, financial, and industrial (C&I)0.94 %0.97 %0.93 %0.97 %1.01 %
Commercial real estate1.10 %1.16 %1.30 %1.49 %1.53 %
Consumer real estate1.37 %1.44 %1.46 %1.52 %1.63 %
Credit card and other5
3.42 %3.49 %3.40 %3.42 %3.50 %
Total allowance for loan and lease losses to loans and leases1.09 %1.13 %1.15 %1.23 %1.29 %
Allowance for loan and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)171 %162 %150 %158 %155 %
Commercial real estate81 %64 %74 %80 %90 %
Consumer real estate135 %140 %147 %158 %179 %
Credit card and other5
2,617 %1,842 %2,096 %1,380 %1,684 %
Total allowance for loan and lease losses to nonperforming loans and leases133 %120 %122 %128 %137 %
Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4
1.24 %1.28 %1.31 %1.38 %1.42 %
Total allowance for credit losses to nonperforming loans and leases4
152 %136 %139 %144 %152 %
See footnote disclosures on page 19 and glossary of terms on page 25.
16

COMMERCIAL, CONSUMER, AND WEALTH
Quarterly, Unaudited 
     2Q26 Change vs.
 2Q261Q264Q253Q252Q251Q262Q25
$/bp%$/bp%
Income Statement (millions)      
Net interest income$654 $649 $662 $671 $643 $5 1 %$11 2 %
Noninterest income123 119 124 117 113 5 4 10 9 
Total revenue777 768 786 787 757 9 1 21 3 
Noninterest expense376 368 380 366 355 9 2 21 6 
Pre-provision net revenue3
401 400 407 421 402 1 — — — 
Provision for credit losses1 8 (2)2 13 (7)(89)(12)(94)
Income before income tax expense400 393 409 420 389 8 2 12 3 
Income tax expense96 94 98 100 92 2 2 4 4 
Net income$304 $299 $311 $319 $296 $6 2 %$8 3 %
Average Balances (billions)
Total loans and leases$57.5 $56.5 $56.5 $56.4 $56.3 $1.0 2 %$1.2 2 %
Interest-earning assets57.5 56.5 56.5 56.4 56.3 1.0 2 1.2 2 
Total assets60.0 59.0 59.0 58.8 58.7 1.0 2 1.3 2 
Total deposits58.1 58.7 59.4 59.1 58.9 (0.6)(1)(0.8)(1)
Key Metrics
Net interest margin6
4.58 %4.68 %4.67 %4.74 %4.60 %(10)bp(2)bp
Efficiency ratio 48.39 %47.86 %48.31 %46.50 %46.91 %53 bp148 bp
Loans-to-deposits ratio (period-end balances)98.64 %95.94 %94.83 %94.56 %95.33 %270 bp331 bp
Loans-to-deposits ratio (average balances)98.90 %96.19 %95.09 %95.30 %95.59 %271 bp331 bp
Return on average assets (annualized)2.03 %2.05 %2.09 %2.15 %2.02 %(2)bp1 bp
Return on allocated equity7
20.81 %20.57 %20.34 %20.37 %18.80 %24 bp201 bp
Financial center locations407 410 412 413 414 (3)(7)
Numbers may not total due to rounding.
Certain previously reported amounts have been reclassified to agree with current presentation.
See footnote disclosures on page 19 and glossary of terms on page 25.

Commercial, Consumer, and Wealth segment: Offers financial products and services, including traditional lending and deposit taking, to commercial and consumer clients primarily in the southern U.S. and other selected markets. Commercial, Consumer & Wealth also consists of lines of business that deliver product offerings and services with niche industry knowledge including asset-based lending, commercial real estate, equipment finance/leasing, energy, international banking, healthcare, and transportation and logistics. Additionally, Commercial, Consumer & Wealth provides investment, wealth management, financial planning, trust and asset management services for consumer clients as well as delivering treasury management solutions, loan syndications, and corporate banking services.
17


WHOLESALE
Quarterly, Unaudited 
     2Q26 Change vs.
 2Q261Q264Q253Q252Q251Q262Q25
$/bp%$/bp%
Income Statement (millions)      
Net interest income$67 $62 $66 $60 $57 $5 8 %$10 17 %
Noninterest income58 64 69 74 53 (7)(10)4 8 
Total revenue125 126 135 134 111 (2)(1)14 13 
Noninterest expense79 83 85 83 75 (5)(6)4 5 
Pre-provision net revenue3
46 43 50 52 36 3 7 10 29 
Provision for credit losses23 9 3 (1)6 14 146 17 NM
Income before income tax expense23 34 47 52 30 (10)(31)(7)(22)
Income tax expense6 8 11 13 7 (3)(32)(2)(24)
Net income$18 $26 $36 $40 $23 $(8)(30)%$(5)(22)%
Average Balances (billions)
Total loans and leases$7.0 $6.3 $6.5 $6.0 $5.8 $0.7 10 %$1.2 20 %
Interest-earning assets9.9 9.4 9.6 8.7 8.6 0.5 5 1.3 15 
Total assets10.5 10.1 10.3 9.4 9.3 0.5 5 1.2 13 
Total deposits2.0 2.3 2.3 2.2 2.1 (0.3)(12)(0.1)(4)
Key Metrics
Fixed income product average daily revenue (thousands)$594 $742 $765 $771 $550 $(149)(20)%$43 8 %
Net interest margin6
2.73 %2.68 %2.72 %2.77 %2.67 %5 bp6 bp
Efficiency ratio 63.00 %66.01 %62.77 %61.54 %67.76 %(302)bp(476)bp
Loans-to-deposits ratio (period-end balances)419 %354 %343 %319 %312 %6,585 bp10,756 bp
Loans-to-deposits ratio (average balances)353 %280 %288 %276 %282 %7,220 bp7,021 bp
Return on average assets (annualized)0.68 %1.03 %1.38 %1.68 %0.98 %(35)bp(31)bp
Return on allocated equity7
11.50 %17.55 %24.11 %26.29 %15.39 %(605)bp(389)bp
Numbers may not total due to rounding.
Certain previously reported amounts have been reclassified to agree with current presentation.
See footnote disclosures on page 19 and glossary of terms on page 25.

Wholesale segment: Consists of lines of business that deliver product offerings and services with differentiated industry knowledge. Wholesale’s lines of business include mortgage warehouse lending, franchise finance, correspondent banking, and mortgage. Additionally, Wholesale has a line of business focused on fixed income securities sales, trading, underwriting, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory services, and derivative sales.
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CORPORATE
Quarterly, Unaudited
 2Q26 Change vs.
 2Q261Q264Q253Q252Q251Q262Q25
$%$%
Income Statement (millions)
Net interest income/(expense)$(45)$(44)$(51)$(56)$(60)$(1)(2)%$14 24 %
Noninterest income30 12 18 25 22 18 NM 8 36 
Total revenues(15)(32)(33)(32)(38)17 52 22 59 
Noninterest expense76 54 80 102 61 22 41 15 24 
Pre-provision net revenue3
(92)(86)(113)(134)(99)(5)(6)7 7 
Provision for credit losses(9)(2)(1)(6)11 (7)NM (20)NM
Income before income tax expense(83)(84)(112)(128)(110)1 2 27 25 
Income tax expense (benefit)(35)(26)(31)(35)(35)(9)(35)— — 
Net income/(loss)$(48)$(58)$(81)$(93)$(75)$11 18 %$27 36 %
Average Balance Sheet (billions)    
Interest bearing assets$10.6 $11.1 $11.0 $11.0 $11.0 $(0.5)(4)%$(0.4)(4)%
Total assets13.6 14.0 13.8 13.9 13.9 (0.4)(3)(0.4)(3)
Numbers may not total due to rounding.
Certain previously reported amounts have been reclassified to agree with current presentation.


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


FOOTNOTES
1 Taxable equivalent interest income and interest expense are non-GAAP measures and are reconciled to net interest income (GAAP) in the table.
2 Occupancy and Equipment expense includes Computer Software Expense.
3 Pre-provision net revenue is a non-GAAP measure and is reconciled to income before income taxes (GAAP) in the table.
4 Represents a non-GAAP measure and is reconciled to the nearest GAAP measure in the non-GAAP to GAAP reconciliations beginning on page 20.
5 Credit card and other includes $153 million of commercial credit card balances at June 30, 2026.
6 Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent and, where applicable, state taxes.
7 Segment equity is allocated based on an internal allocation methodology.
8 Share count for all periods shown was impacted by share repurchases.
9 Balance fluctuates based on market conditions. 1Q26 decrease was driven by equity market valuations.
10 Preferred Stock balance impacted by the issuance of Series H Preferred Stock in 1Q26.



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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited
($ in millions, except per share data)2Q261Q264Q253Q252Q25
Tangible Common Equity (Non-GAAP)    
(A) Total equity (GAAP)$9,464 $9,465 $9,142 $9,244 $9,257 
Less: Noncontrolling interest (a)295 295 295 295 295 
Less: Preferred stock (a)682 741 349 349 426 
(B) Total common equity$8,487 $8,429 $8,498 $8,600 $8,536 
Less: Intangible assets (GAAP) (b)1,599 1,607 1,615 1,624 1,633 
(C) Tangible common equity (Non-GAAP)$6,888 $6,822 $6,882 $6,976 $6,903 
Tangible Assets (Non-GAAP) 
(D) Total assets (GAAP)$84,437 $84,132 $83,876 $83,192 $82,084 
Less: Intangible assets (GAAP) (b)1,599 1,607 1,615 1,624 1,633 
(E) Tangible assets (Non-GAAP)$82,839 $82,525 $82,261 $81,568 $80,451 
Period-end Shares Outstanding     
(F) Period-end shares outstanding474 476 485 500 509 
Ratios
(A)/(D) Total equity to total assets (GAAP)11.21 %11.25 %10.90 %11.11 %11.28 %
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)8.31 %8.27 %8.37 %8.55 %8.58 %
(B)/(F) Book value per common share (GAAP)$17.91 $17.72 $17.53 $17.19 $16.78 
(C)/(F) Tangible book value per common share (Non-GAAP)$14.53 $14.34 $14.20 $13.94 $13.57 
(a)     Included in Total equity on the Consolidated Balance Sheet.
(b)     Includes goodwill and other intangible assets, net of amortization.
Numbers may not total due to rounding.


20

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited
($ in millions, except per share data)2Q261Q264Q253Q252Q25
Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)a$260 $257 $257 $254 $233 
Plus Total notable items (after-tax) (Non-GAAP) (a)$1 $— $2 $9 $(3)
Adjusted net income available to common shareholders (Non-GAAP)b$262 $257 $259 $263 $229 
Diluted Shares (GAAP)8
c480 487 496 510 514 
Diluted EPS (GAAP)a/c$0.54 $0.53 $0.52 $0.50 $0.45 
Adjusted diluted EPS (Non-GAAP)b/c$0.54 $0.53 $0.52 $0.51 $0.45 
Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)$274 $266 $266 $266 $244 
Plus Relevant notable items (after-tax) (Non-GAAP) (a)$4 $— $2 $6 $(3)
Adjusted NI (Non-GAAP)$278 $266 $268 $272 $241 
NI (annualized) (GAAP)d$1,101 $1,079 $1,054 $1,055 $980 
Adjusted NI (annualized) (Non-GAAP)e$1,116 $1,079 $1,064 $1,079 $967 
Average assets (GAAP)f$84,097 $83,045 $83,081 $82,049 $81,958 
ROA (GAAP)d/f1.31 %1.30 %1.27 %1.29 %1.20 %
Adjusted ROA (Non-GAAP)e/f1.33 %1.30 %1.28 %1.32 %1.18 %
Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE
Net income available to common shareholders ("NIAC") (annualized) (GAAP)g$1,044 $1,044 $1,018 $1,007 $933 
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)h$1,049 $1,044 $1,028 $1,042 $919 
Average Common Equity (GAAP)i$8,468 $8,514 $8,491 $8,579 $8,376 
Intangible Assets (GAAP) (b)1,603 1,611 1,619 1,628 1,638 
Average Tangible Common Equity (Non-GAAP)j$6,865 $6,903 $6,872 $6,950 $6,738 
ROCE (GAAP)g/i12.33 %12.26 %11.99 %11.74 %11.14 %
ROTCE (Non-GAAP)g/j15.21 %15.12 %14.82 %14.49 %13.85 %
Adjusted ROTCE (Non-GAAP)h/j15.29 %15.12 %14.96 %15.00 %13.65 %
(a)     Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.
(b)     Includes goodwill and other intangible assets, net of amortization.
Numbers may not total due to rounding.


21

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited
(In millions)2Q261Q264Q253Q252Q25
Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)k$211 $195 $212 $215 $189 
Plus notable items (pretax) (GAAP) (a)— — — — — 
Adjusted noninterest income (Non-GAAP)l$211 $195 $212 $215 $189 
Revenue (GAAP)m$887 $862 $888 $889 $830 
Taxable-equivalent adjustment3 3 3 3 4 
Revenue- Taxable-equivalent (Non-GAAP)890 865 892 893 833 
Plus notable items (pretax) (GAAP) (a)— — — — — 
Adjusted revenue (Non-GAAP)n$890 $865 $892 $893 $833 
Securities gains/(losses) (GAAP)o$— $(1)$— $— $— 
Noninterest income as a % of total revenue (GAAP)(k-o)/(m-o)23.73 %22.63 %23.89 %24.16 %22.73 %
Adjusted noninterest income as a % of total revenue (Non-GAAP)(l-o)/(n-o)23.65 %22.55 %23.80 %24.07 %22.63 %
Adjusted Efficiency Ratio
Noninterest expense (GAAP)p$531 $505 $545 $551 $491 
Plus notable items (pretax) (GAAP) (a)(5)— (3)(8)4 
Adjusted noninterest expense (Non-GAAP)q$526 $505 $541 $542 $495 
Revenue (GAAP)r$887 $862 $888 $889 $830 
Taxable-equivalent adjustment3 3 3 3 4 
Revenue- Taxable-equivalent (Non-GAAP)890 865 892 893 833 
Plus notable items (pretax) (GAAP) (a)— — — — — 
Adjusted revenue (Non-GAAP)s$890 $865 $892 $893 $833 
Securities gains/(losses) (GAAP)t$— $(1)$— $— $— 
Efficiency ratio (GAAP)p/ (r-t)59.88 %58.54 %61.33 %61.92 %59.20 %
Adjusted efficiency ratio (Non-GAAP)q/
(s-t)		59.11 %58.34 %60.73 %60.76 %59.47 %
(a)     Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.
Numbers may not total due to rounding.
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CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited
($ in millions)
Period-endAverage
2Q261Q262Q26 vs. 1Q262Q261Q262Q26 vs. 1Q26
Loans excluding LMC
Total Loans (GAAP)$65,330 $64,377 $953 1 %$64,695 $63,192 $1,503 2 %
LMC (GAAP)4,759 4,641 118 3 %4,284 3,884 399 10 %
Total Loans excl. LMC (Non-GAAP)60,571 59,736 835 1 %60,411 59,308 1,104 2 %
Total Consumer (GAAP)14,439 14,490 (50)— %14,439 14,567(128)(1)%
Total Commercial excl. LMC (Non-GAAP)46,131 45,246 886 2 %45,972 44,741 1,232 3 %
Total CRE (GAAP)13,595 13,420 175 1 %13,510 13,417 93 1 %
Total C&I excl. LMC (Non-GAAP)$32,536 $31,826 $710 2 %$32,462 $31,324 1,138 4 %
Numbers may not total due to rounding.


2Q261Q264Q253Q252Q25
Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases
Allowance for loan and lease losses (GAAP)A$709 $730 $738 $777 $814 
Reserve for unfunded commitments (GAAP)99 96 101 93 87 
Allowance for credit losses (Non-GAAP)B$808 $826 $839 $870 $901 
Loans and leases (GAAP)C$65,330 $64,377 $64,156 $63,058 $63,260 
Nonaccrual loans and leases (GAAP)D$531 $606 $604 $605 $593 
Allowance for loan and lease losses to loans and leases (GAAP)A/C1.09 %1.13 %1.15 %1.23 %1.29 %
Allowance for credit losses to loans and leases (Non-GAAP)B/C1.24 %1.28 %1.31 %1.38 %1.42 %
Allowance for loan and lease losses to nonperforming loans and leases (GAAP)A/D133 %120 %122 %128 %137 %
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)B/D152 %136 %139 %144 %152 %
Numbers may not total due to rounding.


23

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited
($ in millions)
2Q261Q264Q253Q252Q25
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)$341 $342 $343 $344 $309 
Plus notable items (pretax) (GAAP) (a)5 — 3 8 (4)
Adjusted Pre-tax income (non-GAAP)$346 $342 $347 $352 $304 
Plus provision for credit losses expense (GAAP)15 15 — (5)30 
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)$361 $357 $347 $347 $334 
Taxable-equivalent adjustment3 3 3 3 4 
Adjusted Pre-provision net revenue-Taxable-equivalent (Non-GAAP)$364 $360 $350 $351 $338 
(a)     Adjusted for those notable items relevant to the amount being adjusted, as detailed on page 8.
Numbers may not total due to rounding.


24


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
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 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 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.

25
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