# EDGAR Filing Document

**Accession Number:** 0000036966
**File Stem:** 0000036966-25-000098
**Filing Date:** 2025-7
**Character Count:** 143724
**Document Hash:** ee7b56f80490e7c6c79caf430b4941e7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000036966-25-000098.hdr.sgml**: 20250716

**ACCESSION NUMBER**: 0000036966-25-000098

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 47

**CONFORMED PERIOD OF REPORT**: 20250716

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250716

**DATE AS OF CHANGE**: 20250716

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST HORIZON CORP
- **CENTRAL INDEX KEY:** 0000036966
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 620803242
- **STATE OF INCORPORATION:** TN
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-15185
- **FILM NUMBER:** 251126134

**BUSINESS ADDRESS:**
- **STREET 1:** 165 MADISON AVENUE
- **CITY:** MEMPHIS
- **STATE:** TN
- **ZIP:** 38103
- **BUSINESS PHONE:** 9018186232

**MAIL ADDRESS:**
- **STREET 1:** 165 MADISON AVENUE
- **CITY:** MEMPHIS
- **STATE:** TN
- **ZIP:** 38103

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST HORIZON NATIONAL CORP
- **DATE OF NAME CHANGE:** 20040422

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST TENNESSEE NATIONAL CORP
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST TENNESSEE BANKS INC
- **DATE OF NAME CHANGE:** 19600201

?xml version='1.0' encoding='ASCII'? fhn-20250716

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

______________________________________

**FORM 8-K** 

_____________________________________

**CURRENT REPORT**

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

**July 16, 2025&nbsp;&nbsp;&nbsp;&nbsp;**

Date of Report (date of earliest event reported)

![First Horizon Corporation.jpg](fhn-20250716_g1.jpg)

**(Exact name of registrant as specified in its charter)**

---

| | | | |
|:---|:---|:---|:---|
| **TN** | **001-15185** | **001-15185** | **62-0803242** |
| (State or other jurisdiction of incorporation) | (Commission File Number) | (Commission File Number) | (I.R.S. Employer Identification No.) |
| **165 Madison Avenue** | **Memphis,** | **Tennessee** | **38103** |
| (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Address of Principal Executive Offices) | (Zip Code) |

---

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

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

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

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

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

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

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

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

---

| | | |
|:---|:---|:---|
| **Title of Each Class** | **Trading Symbol(s)** | **Name of Exchange on which Registered** |
| $0.625 Par Value Common Capital Stock | FHN | New York Stock Exchange LLC |
| Depositary Shares, each representing a 1/400th interest in | FHN PR B | New York Stock Exchange LLC |
| a share of Non-Cumulative Perpetual Preferred Stock, Series B\* | FHN PR B | New York Stock Exchange LLC |
| Depositary Shares, each representing a 1/400th interest in | FHN PR C | New York Stock Exchange LLC |
| a share of Non-Cumulative Perpetual Preferred Stock, Series C | FHN PR C | New York Stock Exchange LLC |
| Depositary Shares, each representing a 1/4,000th interest in | FHN PR E | New York Stock Exchange LLC |
| a share of Non-Cumulative Perpetual Preferred Stock, Series E | FHN PR E | New York Stock Exchange LLC |
| Depositary Shares, each representing a 1/4,000th interest in | FHN PR F | New York Stock Exchange LLC |
| a share of Non-Cumulative Perpetual Preferred Stock, Series F | FHN PR F | New York Stock Exchange LLC |

---

\*On July 2, 2025, all shares of Series B Preferred Stock were called for redemption effective August 1, 2025. That redemption will result in the redemption, suspension from trading, and delisting of the related Series B Depositary Shares.

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

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. □

------

**ITEM 2.02. Results of Operations and Financial Condition.**

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

**ITEM 7.01. Regulation FD Disclosure.**

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

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

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

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

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

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

**Forward-Looking Statements**

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

---

| | |
|:---|:---|
| **FIRST HORIZON CORPORATION**<sub>2</sub> | **FORM 8-K CURRENT REPORT 07/16/2025** |

---

------

**ITEM 9.01. Financial Statements and Exhibits.**

(d)Exhibits

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

---

| | |
|:---|:---|
| Exhibit # | Description |
| 99.1 | <u>[First Horizon Corporation Second Quarter 2025 Earnings Release](a2q2025earningsrelease.htm)</u> |
| 99.2 | <u>[Investor Slide Presentation for Second Quarter 2025 Earnings](a2q25earningsslides.htm)</u> |
| 104 | Cover Page Interactive Data File, formatted in Inline XBRL |

---

---

| | |
|:---|:---|
| **FIRST HORIZON CORPORATION**<sub>3</sub> | **FORM 8-K CURRENT REPORT 07/16/2025** |

---

------

**SIGNATURES**

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

---

| | | | |
|:---|:---|:---|:---|
| | | **FIRST HORIZON CORPORATION** | **FIRST HORIZON CORPORATION** |
| | | (Registrant) | (Registrant) |
| Date: | July 16, 2025 | By: | /s/ Hope Dmuchowski |
|  |  | Hope Dmuchowski | Hope Dmuchowski |
|  |  | *Senior Executive Vice President—Chief Financial Officer* | *Senior Executive Vice President—Chief Financial Officer* |
|  |  | (Duly Authorized Officer and Principal Financial Officer) | (Duly Authorized Officer and Principal Financial Officer) |

---

---

| | |
|:---|:---|
| **FIRST HORIZON CORPORATION**<sub>4</sub> | **FORM 8-K CURRENT REPORT 07/16/2025** |

---

## Exhibit 99.1

![fhnlogo.jpg](fhnlogo.jpg)

**First Horizon Corporation Delivers Strong Second Quarter 2025 Results**

**Net Income Available to Common Shareholders of $233 Million with an EPS of $0.45, a $0.04 Increase from Prior Quarter; $229 Million or $0.45 on an Adjusted Basis, up $0.03 from Prior Quarter\***

**MEMPHIS, TN** (July 16, 2025) – First Horizon Corporation (NYSE: FHN or "First Horizon") today reported second quarter net income available to common shareholders ("NIAC") of $233 million or earnings per share of $0.45, compared with first quarter 2025 NIAC of $213 million or earnings per share of $0.41. Second quarter 2025 results were increased by $3 million after-tax of notable items compared to a decrease of $4 million in first quarter 2025. Excluding notable items, adjusted second quarter 2025 NIAC was $229 million or $0.45 per share compared to $217 million or $0.42 per share in first quarter 2025.

"We are pleased with our strong performance this quarter, underscoring our unwavering commitment to safety and soundness, profitability and growth. Our results in the second quarter and first half of the year highlight the strengths of our business model and our geographic footprint," remarked President and CEO Bryan Jordan.

"Our dedication to our clients and our deep expertise across our business lines ensure that we consistently deliver long-term value and strong outcomes for our shareholders, clients, communities and associates, regardless of economic conditions," Jordan continued.

**<u>Notable Items</u>**

---

| | | | |
|:---|:---|:---|:---|
| **Notable Items** | | | |
| *Quarterly, Unaudited ($ in millions, except per share data)* | **2Q25** | 1Q25 | 2Q24 |
| ***Summary of Notable Items:*** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation adjustment | $**4** | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FDIC special assessment (other noninterest expense) | **1** | (1) | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other notable expenses | **—** | (5) | (3) |
| **Total notable items (pre-tax)** | $**4** | $(6) | $(5) |
| **Total notable items (after-tax)** | $**3** | $(4) | $(11) |
| Numbers may not total due to rounding. |  |  |  |

---

Second quarter notable items included $1 million of expense credit for the FDIC special assessment and a $4 million expense credit related to an accrual release in deferred compensation related to a business unit divested more than a decade ago.

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

------

**<u>Second Quarter 2025 versus First Quarter 2025</u>**

**Net interest income** 

Net interest income (FTE) increased $10 million to $645 million and net interest margin of 3.40% decreased 2 basis points. NII increase was driven by loan portfolio growth. NIM decrease was driven by higher deposit costs associated with increased brokered deposit balances.

**Noninterest income**

Noninterest income increased $7 million to $189 million. Adjusted noninterest income increased by $7 million from first quarter 2025 as deferred compensation income was $10 million higher. Fixed income declined $7 million from prior quarter as average daily revenue (ADR) decreased 6% to $550k and non-ADR revenues also decreased. Service charges and fees increased $3 million due to higher client transaction volume. Mortgage banking fees increased by $1 million as home purchase seasonality picked up slightly.

**Noninterest expense**

Noninterest expense of $491 million increased $3 million from the prior quarter. Second quarter notable items included $1 million of expense credit for the FDIC special assessment and a $4 million expense credit related to an accrual release in deferred compensation related to a business unit divested more than a decade ago. Adjusted noninterest expense of $495 million increased $14 million, including $9 million in higher deferred compensation. Personnel expense, excluding deferred compensation, declined by $3 million due to lower incentives expense, partially offset by higher salaries and benefits. Outside services increased by $7 million mostly due to seasonal advertising spend. Other noninterest expense decreased by $2 million from various smaller items.

**Loans and leases**

Average loan and lease balances of $62.6 billion represented a $906 million increase compared to the prior quarter, while period-end balances were $63.3 billion, increasing $1.0 billion from first quarter 2025. Loans to mortgage companies (LMC) had $689 million of period end growth from typical seasonal increases and market share gains, while other C&I balances increased by $316 million. Loan yields of 5.92% increased 3 basis points driven by the elevated LMC portfolio.

**Deposits**

Average deposits of $64.7 billion increased $0.2 billion from first quarter 2025. Period-end deposits of $65.6 billion increased $1.4 billion, driven by an increase of $1.6 billion in brokered deposits, which primarily funded increased LMC balances. Interest-bearing deposit cost of 2.76% increased 4 basis points from the prior quarter, with a spot rate of approximately 2.78% at the end of the quarter.

**Asset quality**

Provision expense of $30 million decreased $10 million from the previous quarter. Net charge-offs were $34 million or 22 basis points, up from $29 million or 19 basis points in prior quarter. Nonperforming loans of $593 million decreased $17 million, with an increase in C&I offset by reductions in commercial real estate. The ACL to loans ratio decreased from first quarter 2025 to 1.42%, mostly driven by a higher loans to mortgage companies balances, which is a portfolio with lower losses as well as positive net risk grade migration and lower NPLs in the quarter.

**Capital**

CET1 ratio of 11.0%, up 7 basis points from first quarter 2025, as the majority of excess capital was deployed into loan growth.

**Income taxes**

In second quarter 2025, the effective and adjusted effective tax rates were 20.8%. Both the effective tax rate and adjusted tax rate for first quarter 2025 were 22.0%.

------

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **SUMMARY RESULTS** | | | | | | | | | |
| **Quarterly, Unaudited** | | | | | | | | | |
|  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *($s in millions, except per share and balance sheet data)* | **2Q25** | 1Q25 | 2Q24 | 1Q25 | 1Q25 | 1Q25 | 2Q24 | 2Q24 | 2Q24 |
|  |  |  |  | $/bp | $/bp | % | $/bp | $/bp | % |
| **<u>Income Statement</u>** |  |  |  |  |  |  |  |  |  |
| Interest income - taxable equivalent<sup>1</sup> | $**1047** | $1017 | $1097 | $30 |  | 3% | $(50) |  | (5)% |
| Interest expense- taxable equivalent<sup>1</sup> | **403** | 383 | 464 | 20 |  | 5 | (61) |  | (13) |
| Net interest income- taxable equivalent | **645** | 634 | 633 | 10 |  | 2 | 12 |  | 2 |
| Less: Taxable-equivalent adjustment | **4** | 3 | 4 |  |  | 6 | (1) |  | (15) |
| Net interest income | **641** | 631 | 629 | 10 |  | 2 | 12 |  | 2 |
| Noninterest income | **189** | 181 | 186 | 7 |  | 4 | 3 |  | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp; Total revenue | **830** | 812 | 815 | 17 |  | 2 | 15 |  | 2 |
| Noninterest expense | **491** | 488 | 500 | 3 |  | 1 | (9) |  | (2) |
| Pre-provision net revenue<sup>3</sup> | **339** | 325 | 315 | 14 |  | 4 | 24 |  | 8 |
| Provision for credit losses | **30** | 40 | 55 | (10) |  | (25) | (25) |  | (45) |
| Income before income taxes | **309** | 285 | 260 | 24 |  | 8 | 49 |  | 19 |
| Provision for income taxes | **64** | 63 | 56 | 2 |  | 3 | 8 |  | 15 |
| **Net income** | **244** | 222 | 204 | 22 |  | 10 | 41 |  | 20 |
| Net income attributable to noncontrolling interest | **4** | 4 | 5 |  |  |  | (1) |  | (18) |
| Net income attributable to controlling interest | **240** | 218 | 199 | 22 |  | 10 | 41 |  | 21 |
| Preferred stock dividends | **8** | 5 | 15 | 3 |  | 51 | (7) |  | (49) |
| **Net income available to common shareholders** | $**233** | $213 | $184 | $20 |  | 9% | $49 |  | 27% |
| **Adjusted net income**<sup>4</sup> | $241 | $227 | $208 | $14 |  | 6% | $33 |  | 16% |
| **Adjusted net income available to common shareholders**<sup>4</sup> | $229 | $217 | $195 | $12 |  | 5% | $34 |  | 17% |
| **<u>Common stock information</u>** |  |  |  |  |  |  |  |  |  |
| EPS | $**0.45** | $0.41 | $0.34 | $0.04 |  | 10% | $0.11 |  | 32% |
| Adjusted EPS<sup>4</sup> | $**0.45** | $0.42 | $0.36 | $0.03 |  | 7% | $0.09 |  | 25% |
| Diluted shares<sup>8</sup> | **514** | 523 | 547 | (10) |  | (2)% | (33) |  | (6)% |
| **<u>Key performance metrics</u>** |  |  |  |  |  |  |  |  |  |
| Net interest margin<sup>6</sup>  | **3.40%** | 3.42% | 3.38% | (2) | bp |  | 2 | bp |  |
| Efficiency ratio | **59.20** | 60.06 | 61.44 | (86) | bp |  | (224) | bp |  |
| Adjusted efficiency ratio<sup>4</sup> | **59.47** | 59.09 | 60.47 | 38 | bp |  | (100) | bp |  |
| Effective income tax rate | **20.78** | 21.96 | 21.49 | (118) | bp |  | (71) | bp |  |
| Return on average assets | **1.20** | 1.11 | 1.00 | 9 | bp |  | 20 | bp |  |
| Adjusted return on average assets<sup>4</sup> | **1.18** | 1.14 | 1.02 | 4 | bp |  | 16 | bp |  |
| Return on average common equity ("ROCE") | **11.1** | 10.3 | 9.0 | 84 | bp |  | 216 | bp |  |
| Return on average tangible common equity ("ROTCE")<sup>4</sup> | **13.8** | 12.8 | 11.3 | 104 | bp |  | 256 | bp |  |
| Adjusted ROTCE<sup>4</sup> | **13.6** | 13.1 | 12.0 | 57 | bp |  | 166 | bp |  |
| Noninterest income as a % of total revenue | **22.73** | 22.29 | 22.75 | 44 | bp |  | (2) | bp |  |
| Adjusted noninterest income as a % of total revenue<sup>4</sup> | **22.63%** | 22.20% | 22.64% | 43 | bp |  | (1) | bp |  |
| **<u>Balance Sheet (billions)</u>** |  |  |  |  |  |  |  |  |  |
| Average loans | $**62.6** | $61.6 | $62 | $0.9 |  | 1% | $0.5 |  | 1% |
| Average deposits | **64.7** | 64.5 | 65.0 | 0.2 |  |  | (0.2) |  |  |
| Average assets | **82.0** | 81.0 | 81.7 | 1.0 |  | 1 | 0.2 |  |  |
| Average common equity | $**8.4** | $8.4 | $8.2 | $— |  | —% | $0.1 |  | 2% |
| **<u>Asset Quality Highlights</u>** |  |  |  |  |  |  |  |  |  |
| Allowance for credit losses to loans and leases<sup>4</sup> | **1.42%** | 1.45% | 1.41% | (3) | bp |  | 1 | bp |  |
| Nonperforming loan and leases ratio | **0.94%** | 0.98% | 0.91% | (4) | bp |  | 3 | bp |  |
| Net charge-off ratio | **0.22%** | 0.19% | 0.22% | 3 | bp |  |  | bp |  |
| Net charge-offs | $**34** | $29 | $34 | $5 |  | 16% | $— |  | —% |
| **<u>Capital Ratio Highlights (current quarter is an estimate)</u>** |  |  |  |  |  |  |  |  |  |
| Common Equity Tier 1 | **11.0%** | 10.9% | 11.0% | 7 | bp |  | (5) | bp |  |
| Tier 1 | **12.0** | 11.9 | 12.1 | 6 | bp |  | (4) | bp |  |
| Total Capital | **14.0** | 14.1 | 14.0 | (9) | bp |  | (7) | bp |  |
| Tier 1 leverage | **10.6%** | 10.5% | 10.6% | 7 | bp |  | (5) | bp |  |

---

Numbers may not total due to rounding.

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

------

**Forward-Looking Statements** 

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

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

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

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

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

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

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

------

**Conference Call Information**

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on July 16, 2025, by dialing 1-833-470-1428 (if calling from the U.S.) or 404-975-4839 (if calling from outside the U.S) and entering access code 804399. 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 July 16 until midnight CT on July 30, 2025. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 939343. A replay of the webcast will also be available on our website on July 16 and will be archived on the site for one year.

**First Horizon Corp. (NYSE: FHN)**, with $82.1 billion in assets as of June 30, 2025, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states concentrated in the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

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

&nbsp;&nbsp;&nbsp;&nbsp;Media Relations - Beth Ardoin - Beth.Ardoin@firsthorizon.com

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---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED INCOME STATEMENT** | | | | | | | |
| Quarterly, Unaudited |  |  |  |  |  |  |  |
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *($s in millions, except per share data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
|  |  |  |  |  |  | $% | $% |
| Interest income - taxable equivalent<sup>1</sup> | $**1047** | $1017 | $1071 | $1123 | $1097 | 3% | (5)% |
| Interest expense- taxable equivalent<sup>1</sup> | **403** | 383 | 438 | 491 | 464 | 5 | (13) |
| Net interest income- taxable equivalent | **645** | 634 | 634 | 631 | 633 | 2 | 2 |
| Less: Taxable-equivalent adjustment | **4** | 3 | 4 | 4 | 4 | 6 | (15) |
| **Net interest income** | **641** | 631 | 630 | 627 | 629 | 2 | 2 |
| *Noninterest income:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income | **42** | 49 | 49 | 47 | 40 | (15) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking | **10** | 8 | 8 | 9 | 10 | 18 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokerage, trust, and insurance | **39** | 38 | 41 | 39 | 38 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges and fees | **55** | 52 | 53 | 59 | 58 | 5 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Card and digital banking fees | **19** | 18 | 19 | 19 | 20 | 9 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation income<sup>9</sup>  | **8** | (3) | 1 | 6 | 3 | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities gains/(losses) | **—** |  | (91) | 1 | 1 | (53) | (81) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest income | **16** | 18 | 20 | 20 | 16 | (12) | 2 |
| **Total noninterest income** | **189** | 181 | 99 | 200 | 186 | 4 | 1 |
| **Total revenue** | **830** | 812 | 729 | 828 | 815 | 2 | 2 |
| *Noninterest expense:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Personnel expense:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Salaries and benefits | **206** | 201 | 199 | 199 | 198 | 3 | 4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incentives and commissions | **73** | 81 | 76 | 76 | 79 | (10) | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation expense<sup>9</sup>  | **3** | (3) | 1 | 6 | 3 | NM | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total personnel expense | **282** | 279 | 276 | 282 | 279 | 1 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment<sup>2</sup> | **79** | 78 | 76 | 73 | 72 | 1 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services | **71** | 63 | 72 | 74 | 78 | 12 | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | **10** | 10 | 11 | 11 | 11 |  | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest expense | **50** | 58 | 74 | 71 | 60 | (14) | (17) |
| **Total noninterest expense** | **491** | 488 | 508 | 511 | 500 | 1 | (2) |
| Pre-provision net revenue<sup>3</sup> | **339** | 325 | 220 | 316 | 315 | 4 | 8 |
| **Provision for credit losses** | **30** | 40 | 10 | 35 | 55 | (25) | (45) |
| **Income before income taxes** | **309** | 285 | 210 | 281 | 260 | 8 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for income taxes | **64** | 63 | 41 | 58 | 56 | 3 | 15 |
| **Net income** | **244** | 222 | 170 | 223 | 204 | 10 | 20 |
| Net income attributable to noncontrolling interest | **4** | 4 | 4 | 5 | 5 |  | (18) |
| Net income attributable to controlling interest | **240** | 218 | 165 | 218 | 199 | 10 | 21 |
| Preferred stock dividends | **8** | 5 | 8 | 5 | 15 | 51 | (49) |
| Net income available to common shareholders | $**233** | $213 | $158 | $213 | $184 | 9% | 27% |
| **Common Share Data** |  |  |  |  |  |  |  |
| EPS | $**0.46** | $0.41 | $0.30 | $0.40 | $0.34 | 12% | 35% |
| Basic shares | **508** | 517 | 528 | 534 | 544 | (2) | (7) |
| Diluted EPS | $**0.45** | $0.41 | $0.29 | $0.40 | $0.34 | 10 | 32 |
| Diluted shares<sup>8</sup> | **514** | 523 | 534 | 538 | 547 | (2)% | (6)% |
| Effective tax rate | **20.8%** | 22.0% | 19.3% | 20.6% | 21.5% |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;Numbers may not total due to rounding.

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

------

---

| |
|:---|
| **ADJUSTED**<sup>4</sup> **FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 8** |
| Quarterly, Unaudited |

---

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *($s in millions, except per share data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
|  |  |  |  |  |  | $% | $% |
| **Net interest income (FTE)**<sup>1</sup> | $**645** | $634 | $634 | $631 | $633 | 2% | 2% |
| **Adjusted noninterest income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fixed income | **42** | 49 | 49 | 47 | 40 | (15) | 5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking | **10** | 8 | 8 | 9 | 10 | 18 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Brokerage, trust, and insurance | **39** | 38 | 41 | 39 | 38 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges and fees | **55** | 52 | 53 | 59 | 58 | 5 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Card and digital banking fees | **19** | 18 | 19 | 19 | 20 | 9 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation income<sup>9</sup>  | **8** | (3) | 1 | 6 | 3 | NM | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted securities gains/(losses) | **—** |  |  | 1 | 1 | (53)% | (81)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted other noninterest income | **16** | 18 | 20 | 20 | 16 | (12) | 2 |
| **Adjusted total noninterest income** | $**189** | $181 | $190 | $200 | $186 | 4% | 1% |
| **Total revenue (FTE)**<sup>1</sup> | $**833** | $816 | $824 | $832 | $819 | 2% | 2% |
| **Adjusted noninterest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted personnel expense: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted salaries and benefits | $**206** | $201 | $199 | $199 | $198 | 3% | 4% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adjusted Incentives and commissions | **73** | 81 | 73 | 76 | 78 | (10) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation expense<sup>9</sup> | **7** | (3) | 1 | 6 | 3 | NM | 120 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted total personnel expense | **285** | 279 | 274 | 281 | 279 | 2 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted occupancy and equipment<sup>2</sup> | **79** | 78 | 76 | 73 | 72 | 1 | 11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted outside services | **71** | 63 | 71 | 73 | 75 | 12 | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization of intangible assets | **10** | 10 | 11 | 11 | 11 |  | (10) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjusted other noninterest expense | **50** | 52 | 74 | 59 | 58 | (3) | (13) |
| **Adjusted total noninterest expense** | $**495** | $482 | $506 | $497 | $495 | 3% | —% |
| **Adjusted pre-provision net revenue**<sup>4</sup> | $**338** | $334 | $318 | $335 | $324 | 1% | 4% |
| **Provision for credit losses** | $**30** | $40 | $10 | $35 | $55 | (25)% | (45)% |
| **Adjusted net income available to common shareholders** | $**229** | $217 | $228 | $224 | $195 | 5% | 17% |
| **Adjusted Common Share Data** |  |  |  |  |  |  |  |
| Adjusted diluted EPS | $**0.45** | $0.42 | $0.43 | $0.42 | $0.36 | 7% | 25% |
| Diluted shares<sup>8</sup> | **514** | 523 | 534 | 538 | 547 | (2)% | (6)% |
| Adjusted effective tax rate | **20.8%** | 22.0% | 21.0% | 20.8% | 21.5% |  |  |
| Adjusted ROTCE | **13.6%** | 13.1% | 13.3% | 13.2% | 12.0% |  |  |
| Adjusted efficiency ratio | **59.5%** | 59.1% | 61.4% | 59.9% | 60.5% |  |  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Numbers may not total due to rounding.

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

------

---

| |
|:---|
| **NOTABLE ITEMS** |
| Quarterly, Unaudited |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *(In millions)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| ***Summary of Notable Items:*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loss on AFS portfolio restructuring | $**—** | $— | $(91) | $— | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation adjustment | **4** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;FDIC special assessment (other noninterest expense) | **1** | (1) | 1 | 2 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other notable expenses \* | **—** | (5) | (3) | (17) | (3) |
| **Total notable items (pre-tax)** | $**4** | $(6) | $(94) | $(14) | $(5) |
| **Tax-related notable items** | $**—** | $— | $— | $— | $— |
| **Preferred Stock Dividend \*\*** | $**—** | $— | $— | $— | $(7) |

---

Numbers may not total due to rounding.

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

\*\* 2Q24 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock.

---

| |
|:---|
| **IMPACT OF NOTABLE ITEMS:** |
| Quarterly, Unaudited |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| *($s in millions, except per share data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| Impacts of Notable Items: |  |  |  |  |  |
| ***Noninterest income:*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities (gains)/losses | $**—** | $— | $91 | $— | $— |
| **Total noninterest income** | $**—** | $— | $91 | $— | $— |
| ***Noninterest expense:*** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;*Personnel expenses:* |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Incentives and commissions | $**—** | $— | $(2) | $— | $(1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred compensation expense | **4** |  | $— | $— |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total personnel expenses | **4** |  | (2) | (1) | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Outside services | **—** |  | (1) | (1) | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other noninterest expense | **1** | (6) | 1 | (13) | (2) |
| **Total noninterest expense** | $**4** | $(6) | $(2) | $(14) | $(5) |
| Income before income taxes | $**(4)** | $6 | $94 | $14 | $5 |
| Provision for income taxes | **(1)** | 1 | 23 | 4 | 1 |
| Preferred stock dividends \* | **—** |  |  |  | (7) |
| Net income/(loss) available to common shareholders | $**(3)** | $4 | $71 | $11 | $11 |
| **EPS impact of notable items** | $**—** | $0.01 | $0.13 | $0.02 | $0.02 |

---

Numbers may not total due to rounding.

\*2Q24 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock.

------

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **FINANCIAL RATIOS** | | | | | | | | | | | |
| Quarterly, Unaudited |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 1Q25 | 1Q25 | 2Q24 | 2Q24 | 2Q24 |
| **<u>FINANCIAL RATIOS</u>** |  |  |  |  |  | $/bp | $/bp | % | $/bp | $/bp | % |
| Net interest margin<sup>6</sup>  | **3.40%** | 3.42% | 3.33% | 3.31% | 3.38% | (2) | bp |  | 2 | bp |  |
| Return on average assets | **1.20%** | 1.11% | 0.82% | 1.08% | 1.00% | 9 | bp |  | 20 | bp |  |
| Adjusted return on average assets<sup>4</sup> | **1.18%** | 1.14% | 1.17% | 1.13% | 1.02% | 4 | bp |  | 16 | bp |  |
| Return on average common equity ("ROCE") | **11.14%** | 10.30% | 7.38% | 10.10% | 8.98% | 84 | bp |  | 216 | bp |  |
| Return on average tangible common equity ("ROTCE")<sup>4</sup> | **13.85%** | 12.81% | 9.17% | 12.60% | 11.29% | 104 | bp |  | 256 | bp |  |
| Adjusted ROTCE<sup>4</sup> | **13.65%** | 13.08% | 13.27% | 13.24% | 11.99% | 57 | bp |  | 166 | bp |  |
| Noninterest income as a % of total revenue | **22.73%** | 22.29% | 23.20% | 24.06% | 22.75% | 44 | bp |  | (2) | bp |  |
| Adjusted noninterest income as a % of total revenue<sup>4</sup> | **22.63%** | 22.20% | 23.10% | 23.95% | 22.64% | 43 | bp |  | (1) | bp |  |
| Efficiency ratio | **59.20%** | 60.06% | 61.98% | 61.89% | 61.44% | (86) | bp |  | (224) | bp |  |
| Adjusted efficiency ratio<sup>4</sup> | **59.47%** | 59.09% | 61.43% | 59.86% | 60.47% | 38 | bp |  | (100) | bp |  |
| Allowance for credit losses to loans and leases<sup>4</sup> | **1.42%** | 1.45% | 1.43% | 1.44% | 1.41% | (3) | bp |  | 1 | bp |  |
| **CAPITAL DATA** |  |  |  |  |  |  |  |  |  |  |  |
| CET1 capital ratio\* | **11.0%** | 10.9% | 11.2% | 11.2% | 11.0% | 7 | bp |  | (5) | bp |  |
| Tier 1 capital ratio\* | **12.0%** | 11.9% | 12.2% | 12.2% | 12.1% | 6 | bp |  | (4) | bp |  |
| Total capital ratio\* | **14.0%** | 14.1% | 14.2% | 14.2% | 14.0% | (9) | bp |  | (7) | bp |  |
| Tier 1 leverage ratio\* | **10.6%** | 10.5% | 10.6% | 10.6% | 10.6% | 7 | bp |  | (5) | bp |  |
| Risk-weighted assets ("RWA") (billions)\* | $**71.7** | $70.8 | $71.1 | $71.5 | $71.9 | $0.9 |  | 1% | $(0.3) |  | —% |
| Total equity to total assets | **11.28%** | 11.10% | 11.09% | 11.27% | 10.89% | 18 | bp |  | 39 | bp |  |
| Tangible common equity/tangible assets ("TCE/TA")<sup>4</sup> | **8.58%** | 8.37% | 8.37% | 8.56% | 8.14% | 21 | bp |  | 44 | bp |  |
| Period-end shares outstanding (millions)<sup>8</sup> | **509** | 507 | 524 | 532 | 537 | 2 |  | —% | (28) |  | (5)% |
| Cash dividends declared per common share | $**0.15** | $0.15 | $0.15 | $0.15 | $0.15 | $— |  | —% | $— |  | —% |
| Book value per common share | $**16.78** | $16.40 | $16.00 | $16.15 | $15.34 | $0.37 |  | 2% | $1.44 |  | 9% |
| Tangible book value per common share<sup>4</sup> | $**13.57** | $13.17 | $12.85 | $13.02 | $12.22 | $0.40 |  | 3% | $1.35 |  | 11% |
| **SELECTED BALANCE SHEET DATA** |  |  |  |  |  |  |  |  |  |  |  |
| Loans-to-deposit ratio (period-end balances) | **96.47%** | 96.90% | 95.40% | 93.80% | 96.89% | (43) | bp |  | (42) | bp |  |
| Loans-to-deposit ratio (average balances) | **96.62%** | 95.57% | 94.44% | 94.19% | 95.49% | 105 | bp |  | 113 | bp |  |
| Full-time equivalent associates | **7255** | 7190 | 7158 | 7186 | 7297 | 65 |  | 1% | (42) |  | (1)% |

---

\*Current quarter is an estimate.

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

------

**CONSOLIDATED PERIOD-END BALANCE SHEET**

Quarterly, Unaudited

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *(In millions)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
| **Assets:** |  |  |  |  |  | $% | $% |
| **Assets:** |  |  |  |  |  |  |  |
| *Loans and leases:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**34359** | $33354 | $33428 | $33092 | $33452 | 3% | 3% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **13936** | 14139 | 14421 | 14705 | 14669 | (1) | (5) |
| Total Commercial | **48295** | 47493 | 47849 | 47797 | 48121 | 2 |  |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **14368** | 14089 | 14047 | 13961 | 13909 | 2 | 3 |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **597** | 633 | 670 | 688 | 751 | (6) | (20) |
| Total Consumer | **14965** | 14722 | 14716 | 14648 | 14660 | 2 | 2 |
| Loans and leases, net of unearned income | **63260** | 62215 | 62565 | 62445 | 62781 | 2 | 1 |
| Loans held for sale | **402** | 510 | 551 | 494 | 471 | (21) | (15) |
| Investment securities | **9362** | 9333 | 9166 | 9530 | 9221 |  | 2 |
| Trading securities | **1430** | 1376 | 1387 | 1549 | 1249 | 4 | 14 |
| Interest-bearing deposits with banks | **911** | 1164 | 1538 | 1286 | 1452 | (22) | (37) |
| Federal funds sold and securities purchased under agreements to resell | **527** | 728 | 631 | 1008 | 487 | (28) | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest earning assets** | **75893** | 75326 | 75838 | 76311 | 75662 | 1 |  |
| Cash and due from banks | **988** | 915 | 906 | 1028 | 969 | 8 | 2 |
| Goodwill and other intangible assets, net | **1633** | 1643 | 1653 | 1663 | 1674 | (1) | (2) |
| Premises and equipment, net | **561** | 569 | 574 | 572 | 584 | (1) | (4) |
| Allowance for loan and lease losses | **(814)** | (822) | (815) | (823) | (821) | 1 | 1 |
| Other assets | **3823** | 3861 | 3996 | 3883 | 4162 | (1) | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**82084** | $81491 | $82152 | $82635 | $82230 | 1% | —% |
| **Liabilities and Shareholders' Equity:** |  |  |  |  |  |  |  |
| *Deposits:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Savings | $**25939** | $26242 | $26695 | $26634 | $25437 | (1)% | 2% |
| &nbsp;&nbsp;&nbsp;Time deposits | **7270** | 5918 | 6613 | 8326 | 7163 | 23 | 1 |
| &nbsp;&nbsp;&nbsp;Other interest-bearing deposits | **16477** | 16213 | 16252 | 15403 | 15845 | 2 | 4 |
| Total interest-bearing deposits | **49685** | 48373 | 49560 | 50363 | 48446 | 3 | 3 |
| Trading liabilities | **469** | 670 | 550 | 767 | 423 | (30) | 11 |
| Federal funds purchased and securities sold under agreements to repurchase | **3201** | 2572 | 2355 | 1910 | 2572 | 24 | 24 |
| Short-term borrowings | **260** | 1223 | 1045 | 675 | 1943 | (79) | (87) |
| Term borrowings | **1342** | 1691 | 1195 | 1202 | 1175 | (21) | 14 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | **54957** | 54529 | 54705 | 54918 | 54559 | 1 | 1 |
| Noninterest-bearing deposits | **15892** | 15835 | 16021 | 16212 | 16348 |  | (3) |
| Other liabilities | **1978** | 2084 | 2315 | 2189 | 2368 | (5) | (16) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **72826** | 72447 | 73041 | 73318 | 73275 | 1 | (1) |
| *Shareholders' Equity:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock | **426** | 426 | 426 | 426 | 426 |  |  |
| &nbsp;&nbsp;&nbsp;Common stock | **318** | 317 | 328 | 333 | 336 |  | (5) |
| &nbsp;&nbsp;&nbsp;Capital surplus | **4459** | 4472 | 4809 | 4947 | 5007 |  | (11) |
| &nbsp;&nbsp;&nbsp;Retained earnings | **4671** | 4516 | 4382 | 4304 | 4172 | 3 | 12 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss, net | **(912)** | (983) | (1128) | (989) | (1281) | 7 | 29 |
| &nbsp;&nbsp;&nbsp;Combined shareholders' equity | **8962** | 8749 | 8816 | 9021 | 8660 | 2 | 3 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | **295** | 295 | 295 | 295 | 295 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | **9257** | 9044 | 9111 | 9316 | 8955 | 2 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $**82084** | $81491 | $82152 | $82635 | $82230 | 1% | —% |
| **Memo:** |  |  |  |  |  |  |  |
| Total deposits | $**65576** | $64208 | $65581 | $66575 | $64794 | 2% | 1% |
| Loans to mortgage companies | $**4058** | $3369 | $3471 | $3244 | $2934 | 20% | 38% |
| **Unfunded Loan Commitments:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial | $17784 | $17974 | $17863 | $18180 | $18781 | (1)% | (5)% |
| &nbsp;&nbsp;&nbsp;Consumer | $4153 | $4190 | $4203 | $4281 | $4334 | (1)% | (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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *(In millions)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
| **Assets:** |  |  |  |  |  | $% | $% |
| *Loans and leases:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**33634** | $32632 | $33107 | $33074 | $32909 | 3% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | **14070** | 14318 | 14601 | 14684 | 14576 | (2) | (3) |
| Total Commercial | **47704** | 46951 | 47709 | 47758 | 47485 | 2 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer real estate | **14224** | 14046 | 14008 | 13935 | 13783 | 1 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card and other<sup>5</sup> | **623** | 649 | 701 | 720 | 761 | (4) | (18) |
| Total Consumer | **14847** | 14694 | 14709 | 14654 | 14544 | 1 | 2 |
| Loans and leases, net of unearned income | **62551** | 61645 | 62418 | 62413 | 62029 | 1 | 1 |
| Loans held-for-sale | **501** | 519 | 482 | 491 | 462 | (3) | 9 |
| Investment securities | **9330** | 9209 | 9295 | 9400 | 9261 | 1 | 1 |
| Trading securities | **1609** | 1442 | 1515 | 1469 | 1367 | 12 | 18 |
| Interest-bearing deposits with banks | **1259** | 1265 | 1438 | 1741 | 1449 |  | (13) |
| Federal funds sold and securities purchased under agreements to resell | **636** | 713 | 594 | 607 | 676 | (11) | (6) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest earning assets** | **75887** | 74793 | 75742 | 76121 | 75243 | 1 | 1 |
| Cash and due from banks | **864** | 886 | 911 | 905 | 904 | (2) | (4) |
| Goodwill and other intangible assets, net | **1638** | 1648 | 1658 | 1669 | 1680 | (1) | (2) |
| Premises and equipment, net | **565** | 570 | 571 | 578 | 585 | (1) | (3) |
| Allowances for loan and lease losses | **(828)** | (827) | (821) | (827) | (810) |  | (2) |
| Other assets | **3831** | 3896 | 3889 | 3921 | 4120 | (2) | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $**81958** | $80965 | $81950 | $82366 | $81721 | 1% | —% |
| **Liabilities and shareholders' equity:** |  |  |  |  |  |  |  |
| *Deposits:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Savings | $**25899** | $26544 | $26836 | $26062 | $25462 | (2)% | 2% |
| &nbsp;&nbsp;&nbsp;&nbsp;Time deposits | **6630** | 6329 | 7407 | 8167 | 6683 | 5 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest-bearing deposits | **16362** | 16096 | 15726 | 15923 | 16484 | 2 | (1) |
| Total interest-bearing deposits | **48891** | 48970 | 49969 | 50153 | 48629 |  | 1 |
| Trading liabilities | **613** | 692 | 578 | 576 | 605 | (12) | 1 |
| Federal funds purchased and securities sold under agreements to repurchase | **2692** | 2479 | 2205 | 2132 | 2208 | 9 | 22 |
| Short-term borrowings | **1208** | 681 | 441 | 884 | 1267 | 77 | (5) |
| Term borrowings | **1556** | 1332 | 1206 | 1188 | 1170 | 17 | 33 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | **54960** | 54154 | 54398 | 54931 | 53879 | 1 | 2 |
| Noninterest-bearing deposits | **15851** | 15535 | 16123 | 16111 | 16332 | 2 | (3) |
| Other liabilities | **2050** | 2165 | 2213 | 2196 | 2561 | (5) | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | **72861** | 71854 | 72735 | 73238 | 72772 | 1 |  |
| *Shareholders' Equity:* |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Preferred stock | **426** | 426 | 426 | 426 | 426 |  |  |
| &nbsp;&nbsp;&nbsp;Common stock | **318** | 323 | 330 | 334 | 340 | (2) | (7) |
| &nbsp;&nbsp;&nbsp;Capital surplus | **4464** | 4664 | 4881 | 4973 | 5127 | (4) | (13) |
| &nbsp;&nbsp;&nbsp;Retained earnings | **4562** | 4468 | 4382 | 4254 | 4122 | 2 | 11 |
| &nbsp;&nbsp;&nbsp;Accumulated other comprehensive loss, net | **(967)** | (1066) | (1099) | (1154) | (1361) | 9 | 29 |
| &nbsp;&nbsp;&nbsp;Combined shareholders' equity | **8802** | 8816 | 8920 | 8833 | 8654 |  | 2 |
| &nbsp;&nbsp;&nbsp;Noncontrolling interest | **295** | 295 | 295 | 295 | 295 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | **9097** | 9111 | 9216 | 9128 | 8949 |  | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $**81958** | $80965 | $81950 | $82366 | $81721 | 1% | —% |
| **Memo:** |  |  |  |  |  |  |  |
| Total deposits | $**64742** | $64504 | $66092 | $66263 | $64960 | —% | —% |
| Loans to mortgage companies | $**3533** | $2819 | $3283 | $2875 | $2440 | 25% | 45% |

---

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** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | **CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES** | | | | | | | |
| Quarterly, Unaudited | Quarterly, Unaudited |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* |
|  | **2Q25** | **2Q25** | 1Q25 | 1Q25 | 4Q24 | 4Q24 | 3Q24 | 3Q24 | 2Q24 | 2Q24 | *1Q25* | *1Q25* | *1Q25* | *2Q24* | *2Q24* | *2Q24* |
| *(In millions, except rates)* | Income/Expense | Rate | Income/Expense | Rate | Income/Expense | Rate | Income/Expense | Rate | Income/Expense | Rate | Income/Expense | Income/Expense | Income/Expense | Income/Expense | Income/Expense | Income/Expense |
|  |  |  |  |  |  |  |  |  |  |  | $/bp | $/bp | % | $/bp | $/bp | % |
| **Interest earning assets/Interest income:** | **Interest earning assets/Interest income:** | **Interest earning assets/Interest income:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| *Loans and leases, net of unearned income:* | *Loans and leases, net of unearned income:* | *Loans and leases, net of unearned income:* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Commercial | $**738** | **6.21%** | $715 | 6.18% | $771 | 6.43% | $813 | 6.78% | $800 | 6.78% | $24 |  | 3% | $(62) |  | (8)% |
| Consumer | **186** | **4.99** | 182 | 4.96 | 183 | 4.97 | 186 | 5.05 | 179 | 4.91 | 4 |  | 2 | 7 |  | 4 |
| Loans and leases, net of unearned income | **924** | **5.92** | 897 | 5.89 | 954 | 6.09 | 999 | 6.37 | 978 | 6.34 | 26 |  | 3 | (55) |  | (6) |
| Loans held-for-sale | **8** | **6.76** | 9 | 7.09 | 9 | 7.38 | 10 | 7.77 | 9 | 7.50 | (1) |  | (8) |  |  | (2) |
| Investment securities | **71** | **3.06** | 69 | 3.02 | 62 | 2.69 | 61 | 2.58 | 60 | 2.58 | 2 |  | 3 | 12 |  | 20 |
| Trading securities | **23** | **5.72** | 20 | 5.57 | 22 | 5.74 | 22 | 6.05 | 22 | 6.30 | 3 |  | 15 | 1 |  | 7 |
| Interest-bearing deposits with banks | **14** | **4.45** | 14 | 4.44 | 17 | 4.77 | 24 | 5.40 | 20 | 5.46 |  |  | 1 | (6) |  | (29) |
| Federal funds sold and securities purchased under agreements | **7** | **4.24** | 7 | 4.24 | 7 | 4.46 | 8 | 5.23 | 9 | 5.31 | (1) |  | (10) | (2) |  | (25) |
| **Interest income** | $**1047** | **5.53%** | $1017 | 5.50% | $1071 | 5.63% | $1123 | 5.88% | $1097 | 5.86% | $30 |  | 3% | $(50) |  | (5)% |
| **Interest bearing liabilities/Interest expense:** | **Interest bearing liabilities/Interest expense:** | **Interest bearing liabilities/Interest expense:** | **Interest bearing liabilities/Interest expense:** | **Interest bearing liabilities/Interest expense:** |  |  |  |  |  |  |  |  |  |  |  |  |
| *Interest-bearing deposits:* |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Savings | $**177** | **2.73%** | $175 | 2.67% | $210 | 3.11% | $225 | 3.43% | $208 | 3.29% | $2 |  | 1% | $(31) |  | (15)% |
| &nbsp;&nbsp;&nbsp;Time deposits | **64** | **3.88** | 62 | 4.00 | 81 | 4.35 | 95 | 4.63 | 74 | 4.45 | 2 |  | 3 | (10) |  | (13) |
| &nbsp;&nbsp;&nbsp;Other interest-bearing deposits | **96** | **2.36** | 92 | 2.31 | 99 | 2.49 | 114 | 2.85 | 117 | 2.86 | 5 |  | 5 | (21) |  | (18) |
| Total interest-bearing deposits | **337** | **2.76** | 329 | 2.72 | 389 | 3.10 | 434 | 3.44 | 399 | 3.30 | 8 |  | 2 | (62) |  | (16) |
| Trading liabilities | **6** | **4.07** | 7 | 4.29 | 6 | 4.01 | 6 | 4.13 | 7 | 4.46 | (1) |  | (15) |  |  | (7) |
| Federal funds purchased and securities sold under agreements to repurchase | **24** | **3.61** | 21 | 3.47 | 21 | 3.72 | 23 | 4.20 | 24 | 4.36 | 3 |  | 14 |  |  | 1 |
| Short-term borrowings | **13** | **4.47** | 7 | 4.40 | 5 | 4.75 | 12 | 5.52 | 17 | 5.48 | 6 |  | 82 | (4) |  | (22) |
| Term borrowings | **22** | **5.60** | 18 | 5.41 | 17 | 5.52 | 17 | 5.64 | 17 | 5.64 | 4 |  | 21 | 5 |  | 32 |
| **Interest expense** | **403** | **2.94** | 383 | 2.87 | 438 | 3.20 | 491 | 3.56 | 464 | 3.46 | 20 |  | 5 | (61) |  | (13) |
| **Net interest income - tax equivalent basis** | **645** | **2.59** | 634 | 2.63 | 634 | 2.43 | 631 | 2.32 | 633 | 2.40 | 10 |  | 2 | 12 |  | 2 |
| Fully taxable equivalent adjustment | **(4)** | **0.81** | (3) | 0.79 | (4) | 0.90 | (4) | 0.99 | (4) | 0.98 |  |  | (6) | 1 |  | 15 |
| **Net interest income** | $**641** | **3.40%** | $631 | 3.42% | $630 | 3.33% | $627 | 3.31% | $629 | 3.38% | $10 |  | 2% | $12 |  | 2% |
| **Memo:** |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Total loan yield |  | **5.92%** |  | 5.89% |  | 6.09% |  | 6.37% |  | 6.34% | 3 | bp |  | (42) | bp |  |
| Total deposit cost |  | **2.09%** |  | 2.07% |  | 2.34% |  | 2.61% |  | 2.47% | 2 | bp |  | (38) | bp |  |
| Total funding cost |  | **2.28%** |  | 2.23% |  | 2.47% |  | 2.75% |  | 2.66% | 5 | bp |  | (38) | bp |  |
| Average loans and leases, net of unearned income | $**62551** |  | $61645 |  | $62418 |  | $62413 |  | $62029 |  | $906 |  | 1% | $523 |  | 1% |
| Average deposits | **64742** |  | 64504 |  | 66092 |  | 66263 |  | 64960 |  | 238 |  | —% | (218) |  | —% |
| Average funded liabilities | **70811** |  | 69689 |  | 70521 |  | 71042 |  | 70210 |  | $1123 |  | 2% | $601 |  | 1% |

---

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

Earning assets yields are expressed net of unearned income.

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

Numbers may not total due to rounding.

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** | **CONSOLIDATED NONPERFORMING LOANS AND LEASES ("NPL")** |
| Quarterly, Unaudited |  |  |  |  |  |  |  |
|  | As of | As of | As of | As of | As of | *2Q25 change vs.* | *2Q25 change vs.* |
| *(In millions, except ratio data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
|  |  |  |  |  |  | $% | $% |
| **Nonperforming loans and leases** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**224** | $195 | $173 | $190 | $167 | 15% | 34% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **236** | 284 | 294 | 259 | 261 | (17) | (10) |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **131** | 129 | 133 | 128 | 143 | 1 | (9) |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **1** | 1 | 2 | 1 | 2 | 1 | (34) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total nonperforming loans and leases | $**593** | $609 | $602 | $578 | $574 | (3)% | 3% |
| **Asset Quality Ratio** |  |  |  |  |  |  |  |
| **Nonperforming loans and leases to loans and leases** |  |  |  |  |  |  |  |
| Commercial, financial, and industrial (C&I) | **0.65%** | 0.58% | 0.52% | 0.57% | 0.50% |  |  |
| Commercial real estate | **1.70** | 2.01 | 2.04 | 1.76 | 1.78 |  |  |
| Consumer real estate | **0.91** | 0.92 | 0.95 | 0.92 | 1.03 |  |  |
| Credit card and other<sup>5</sup> | **0.21** | 0.19 | 0.23 | 0.20 | 0.25 |  |  |
| &nbsp;&nbsp;&nbsp;Total nonperforming loans and leases to loans and leases | **0.94%** | 0.98% | 0.96% | 0.92% | 0.91% |  |  |

---

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** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** | **CONSOLIDATED LOANS AND LEASES 90 DAYS OR MORE PAST DUE AND ACCRUING** |
| Quarterly, Unaudited |  |  |  |  |  |  |  |
|  | As of | As of | As of | As of | As of | *2Q25 change vs.* | *2Q25 change vs.* |
| *(In millions)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
|  |  |  |  |  |  | $% | $% |
| **Loans and leases 90 days or more past due and accruing** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**1** | $1 | $1 | $1 | $— | 7% | NM |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **—** |  |  |  |  | NM | NM |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **6** | 7 | 19 | 13 | 3 | (9) | 90 |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **1** |  | 1 | 3 | 2 | NM | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases 90 days or more past due and accruing** | $**8** | $8 | $21 | $17 | $6 | 6% | 47% |

---

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)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** | **CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)** |
| Quarterly, Unaudited |  |  |  |  |  |  |  |
|  | As of | As of | As of | As of | As of | *2Q25 change vs.* | *2Q25 change vs.* |
| *(In millions, except ratio data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
| **Charge-off, Recoveries and Related Ratios** |  |  |  |  |  | $% | $% |
| **Gross Charge-offs** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**28** | $34 | $13 | $12 | $24 | (18)% | 15% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **8** | 3 | 9 | 15 | 19 | NM | (60) |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **2** |  | 1 | 1 | 1 | NM | 69 |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **6** | 4 | 6 | 5 | 5 | 49 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total gross charge-offs** | $**43** | $41 | $29 | $33 | $49 | 6% | (12)% |
| **Gross Recoveries** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**(6)** | $(6) | $(12) | $(4) | $(11) | (7)% | 46% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **—** | (3) |  | (1) |  | NM | NM |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **(2)** | (1) | (2) | (3) | (2) | (31) | 37 |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **(2)** | (1) | (1) | (1) | (1) | (26) | (29) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total gross recoveries** | $**(9)** | $(12) | $(15) | $(9) | $(15) | 21% | 40% |
| **Net Charge-offs (Recoveries)** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | $**22** | $28 | $1 | $8 | $13 | (23)% | 71% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **8** | (1) | 9 | 14 | 19 | NM | (59) |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **—** | (1) | (2) | (2) | (1) | NM | NM |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **4** | 3 | 5 | 3 | 3 | 60 | 21 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total net charge-offs** | $**34** | $29 | $13 | $24 | $34 | 16% | —% |
| **Annualized Net Charge-off (Recovery) Rates** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **0.26%** | 0.35% | 0.01% | 0.10% | 0.16% |  |  |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **0.22** | (0.02) | 0.25 | 0.39 | 0.53 |  |  |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **—** | (0.02) | (0.05) | (0.05) | (0.04) |  |  |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **2.64** | 1.60 | 2.78 | 1.92 | 1.79 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total loans and leases** | **0.22%** | 0.19% | 0.08% | 0.15% | 0.22% |  |  |

---

Numbers may not total due to rounding.

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

------

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** | **CONSOLIDATED ALLOWANCE FOR LOAN AND LEASE LOSSES AND RESERVE FOR UNFUNDED COMMITMENTS** |
| Quarterly, Unaudited |  |  |  |  |  |  |  |
|  | As of | As of | As of | As of | As of | *2Q25 Change vs.* | *2Q25 Change vs.* |
| *(In millions)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
| **Summary of Changes in the Components of the Allowance For Credit Losses** |  |  |  |  |  | $% | $% |
| **Allowance for loan and lease losses - beginning** | $**822** | $815 | $823 | $821 | $787 | 1% | 5% |
| Charge-offs: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **(28)** | (34) | (13) | (12) | (24) | 18 | (15) |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **(8)** | (3) | (9) | (15) | (19) | NM | 60 |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **(2)** |  | (1) | (1) | (1) | NM | (69) |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **(6)** | (4) | (6) | (5) | (5) | (49) | (23) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total charge-offs | **(43)** | (41) | (29) | (33) | (49) | (6) | 12 |
| Recoveries: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **6** | 6 | 12 | 4 | 11 | 7 | (46) |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **—** | 3 |  | 1 |  | NM | NM |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **2** | 1 | 2 | 3 | 2 | 31 | (37) |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **2** | 1 | 1 | 1 | 1 | 26 | 29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total Recoveries | **9** | 12 | 15 | 9 | 15 | (21) | (40) |
| Provision for loan and lease losses: |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **23** | 28 | (5) | 15 | 9 | (17) | 149 |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **(5)** | (2) | 18 | 11 | 59 | (98) | (108) |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **4** | 8 | (10) | (3) | (1) | (51) | NM |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **3** | 2 | 4 | 2 |  | 53 | NM |
| &nbsp;&nbsp;&nbsp;&nbsp;Total provision for loan and lease losses: | **26** | 36 | 6 | 26 | 68 | (28) | (62) |
| **Allowance for loan and lease losses - ending** | $**814** | $822 | $815 | $823 | $821 | (1)% | (1)% |
| **Reserve for unfunded commitments - beginning** | $**83** | $79 | $75 | $66 | $79 | 5% | 5% |
| &nbsp;&nbsp;&nbsp;Provision for unfunded commitments | **4** | 4 | 4 | 9 | (13) |  | 131 |
| **Reserve for unfunded commitments - ending** | $**87** | $83 | $79 | $75 | $66 | 5% | 32% |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total allowance for credit losses- ending** | $**901** | $905 | $894 | $897 | $887 | —% | 2% |

---

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 | As of | As of | As of | As of |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **Allowance for loans and lease losses to loans and leases** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **1.01%** | 1.04% | 1.03% | 1.06% | 1.03% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **1.53%** | 1.59% | 1.57% | 1.48% | 1.51% |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **1.63%** | 1.63% | 1.57% | 1.65% | 1.66% |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **3.50%** | 3.41% | 3.28% | 3.39% | 3.26% |
| &nbsp;&nbsp;&nbsp;Total allowance for loans and lease losses to loans and leases | **1.29%** | 1.32% | 1.30% | 1.32% | 1.31% |
| **Allowance for loans and lease losses to nonperforming loans and leases** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Commercial, financial, and industrial (C&I) | **155%** | 178% | 199% | 185% | 205% |
| &nbsp;&nbsp;&nbsp;Commercial real estate | **90%** | 79% | 77% | 84% | 85% |
| &nbsp;&nbsp;&nbsp;Consumer real estate | **179%** | 178% | 167% | 180% | 161% |
| &nbsp;&nbsp;Credit card and other<sup>5</sup> | **1684%** | 1752% | 1438% | 1672% | 1295% |
| &nbsp;&nbsp;&nbsp;Total allowance for loans and lease losses to nonperforming loans and leases | **137%** | 135% | 136% | 142% | 143% |
| **Allowance for credit losses ratios** |  |  |  |  |  |
| &nbsp;&nbsp;Total allowance for credit losses to loans and leases<sup>4</sup> | **1.42%** | 1.45% | 1.43% | 1.44% | 1.41% |
| &nbsp;&nbsp;Total allowance for credit losses to nonperforming loans and leases<sup>4</sup> | **152%** | 148% | 149% | 155% | 155% |

---

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

------

**COMMERCIAL, CONSUMER, AND WEALTH** 

Quarterly, Unaudited

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 1Q25 | 1Q25 | 2Q24 | 2Q24 | 2Q24 |
|  |  |  |  |  |  | $/bp | $/bp | % | $/bp | $/bp | % |
| **Income Statement (millions)** |  |  |  |  |  |  |  |  |  |  |  |
| Net interest income | $**634** | $624 | $635 | $634 | $637 | $10 |  | 2% | $(3) |  | (1)% |
| Noninterest income | **113** | 110 | 116 | 119 | 115 | 3 |  | 3 | (2) |  | (2) |
| Total revenue | **747** | 734 | 751 | 754 | 752 | 13 |  | 2 | (5) |  | (1) |
| Noninterest expense | **354** | 344 | 361 | 352 | 357 | 11 |  | 3 | (3) |  | (1) |
| Pre-provision net revenue<sup>3</sup> | **393** | 390 | 390 | 402 | 395 | 3 |  | 1 | (3) |  | (1) |
| Provision for credit losses | **13** | 38 | 15 | 42 | 56 | (25) |  | (66) | (43) |  | (77) |
| Income before income tax expense | **380** | 352 | 375 | 359 | 339 | 28 |  | 8 | 41 |  | 12 |
| Income tax expense | **90** | 84 | 89 | 85 | 79 | 7 |  | 8 | 11 |  | 13 |
| Net income | $**289** | $268 | $286 | $274 | $259 | $21 |  | 8% | $30 |  | 12% |
| **Average Balances (billions)** |  |  |  |  |  |  |  |  |  |  |  |
| Total loans and leases | $**56.3** | $56.2 | $56.5 | $56.9 | $56.9 | $0.1 |  | —% | $(0.6) |  | (1)% |
| Interest-earning assets | **56.3** | 56.2 | 56.5 | 56.9 | 56.9 | 0.1 |  |  | (0.6) |  | (1) |
| Total assets | **58.7** | 58.7 | 59.1 | 59.5 | 59.7 |  |  |  | (0.9) |  | (2) |
| Total deposits | **58.9** | 59.1 | 59.9 | 59.7 | 59.5 | (0.3) |  |  | (0.7) |  | (1) |
| **Key Metrics** |  |  |  |  |  |  |  |  |  |  |  |
| Net interest margin<sup>6</sup> | **4.53%** | 4.52% | 4.49% | 4.46% | 4.53% | 1 | bp |  |  | bp |  |
| Efficiency ratio | **47.43%** | 46.85% | 48.13% | 46.67% | 47.46% | 58 | bp |  | (3) | bp |  |
| Loans-to-deposits ratio (period-end balances) | **95.24%** | 94.28% | 94.14% | 94.41% | 96.62% | 96 | bp |  | (138) | bp |  |
| Loans-to-deposits ratio (average-end balances) | **95.59%** | 94.99% | 94.30% | 95.26% | 95.54% | 60 | bp |  | 5 | bp |  |
| Return on average assets (annualized) | **1.98%** | 1.85% | 1.92% | 1.83% | 1.75% | 13 | bp |  | 23 | bp |  |
| Return on allocated equity<sup>7</sup> | **23.03%** | 21.50% | 22.39% | 21.60% | 20.81% | 153 | bp |  | 222 | bp |  |
| Financial center locations | **414** | 414 | 416 | 416 | 418 |  |  |  | (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

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* | *2Q25 Change vs.* |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 1Q25 | 1Q25 | 2Q24 | 2Q24 | 2Q24 |
|  |  |  |  |  |  | $/bp | $/bp | % | $/bp | $/bp | % |
| **Income Statement (millions)** |  |  |  |  |  |  |  |  |  |  |  |
| Net interest income | $**57** | $50 | $54 | $52 | $46 | $8 |  | 15% | $11 |  | 23% |
| Noninterest income | **53** | 59 | 58 | 57 | 53 | (6) |  | (10) |  |  |  |
| Total revenue | **111** | 109 | 112 | 108 | 100 | 2 |  | 1 | 11 |  | 11 |
| Noninterest expense | **76** | 76 | 76 | 75 | 73 |  |  |  | 3 |  | 4 |
| Pre-provision net revenue<sup>3</sup> | **35** | 33 | 36 | 33 | 27 | 2 |  | 6 | 8 |  | 29 |
| Provision for credit losses | **6** | 3 | 1 | (7) | 1 | 2 |  | 73 | 4 |  | NM |
| Income before income tax expense | **29** | 30 | 35 | 40 | 26 | (1) |  | (2) | 3 |  | 13 |
| Income tax expense | **7** | 7 | 8 | 10 | 6 |  |  | (2) | 1 |  | 12 |
| Net income | $**22** | $23 | $27 | $30 | $20 | $— |  | (2)% | $3 |  | 14% |
| **Average Balances (billions)** |  |  |  |  |  |  |  |  |  |  |  |
| Total loans and leases | $**5.8** | $5 | $5.5 | $5.1 | $4.7 | $0.8 |  | 16% | $1.1 |  | 24% |
| Interest-earning assets | **8.6** | 7.8 | 8.2 | 7.7 | 7.3 | 0.8 |  | 11 | 1.3 |  | 18 |
| Total assets | **9.3** | 8.5 | 8.9 | 8.4 | 8.0 | 0.8 |  | 10 | 1.3 |  | 16 |
| Total deposits | **2.1** | 2.0 | 2.0 | 1.9 | 1.8 | 0.1 |  | 3 | 0.2 |  | 14 |
| **Key Metrics** |  |  |  |  |  |  |  |  |  |  |  |
| Fixed income product average daily revenue (thousands) | $**550** | $586 | $659 | $593 | $488 | $(35) |  | (6)% | $62 |  | 13% |
| Net interest margin<sup>6</sup> | **2.67%** | 2.59% | 2.64% | 2.67% | 2.57% | 8 | bp |  | 10 | bp |  |
| Efficiency ratio | **68.29%** | 69.58% | 67.66% | 69.62% | 72.79% | (129) | bp |  | (450) | bp |  |
| Loans-to-deposits ratio (period-end balances) | **312%** | 288% | 305% | 281% | 279% | 2423 | bp |  | 3328 | bp |  |
| Loans-to-deposits ratio (average-end balances) | **282%** | 252% | 278% | 273% | 260% | 3015 | bp |  | 2269 | bp |  |
| Return on average assets (annualized) | **0.96%** | 1.08% | 1.19% | 1.43% | 0.99% | (12) | bp |  | (3) | bp |  |
| Return on allocated equity<sup>7</sup> | **15.96%** | 16.56% | 19.00% | 21.36% | 14.35% | (60) | bp |  | 161 | 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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
|  |  |  |  |  |  | *2Q25 Change vs.* | *2Q25 Change vs.* |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 | 1Q25 | 2Q24 |
|  |  |  |  |  |  | $% | $% |
| **Income Statement (millions)** |  |  |  |  |  |  |  |
| Net interest income/(expense) | $**(50)** | $(42) | $(59) | $(59) | $(55) | (18)% | 9% |
| Noninterest income | **22** | 12 | (75) | 25 | 17 | 84 | 26 |
| Total revenues | **(28)** | (30) | (134) | (34) | (37) | 8 | 25 |
| Noninterest expense | **61** | 68 | 71 | 84 | 70 | (10) | (13) |
| Pre-provision net revenue<sup>3</sup> | **(89)** | (98) | (205) | (118) | (108) | 9 | 17 |
| Provision for credit losses | **11** | (1) | (6) |  | (3) | NM | NM |
| Income before income tax expense | **(100)** | (97) | (199) | (118) | (105) | (3) | 4 |
| Income tax expense (benefit) | **(33)** | (28) | (57) | (37) | (30) | (17) | (10) |
| Net income/(loss) | $**(67)** | $(69) | $(143) | $(81) | $(75) | 2% | 10% |
| **Average Balance Sheet (billions)** |  |  |  |  |  |  |  |
| Interest bearing assets | $**11.0** | $10.8 | $11.1 | $11.5 | $11.1 | 1% | (1)% |
| Total assets | **13.9** | 13.8 | 14.0 | 14.4 | 14.0 | 1 | (1) |

---

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**

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

<sup>2</sup> Occupancy and Equipment expense includes Computer Software Expense.

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

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

<sup>5</sup> Credit card and other includes $161 million of commercial credit card balances at June 30, 2025.

<sup>6</sup> 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.

<sup>7</sup> Segment equity is allocated based on an internal allocation methodology.

<sup>8</sup> Share count for all periods shown was impacted by share repurchases.

<sup>9</sup> Balance fluctuates based on market conditions. 1Q25 decrease driven by equity market valuations.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | | | | | |
| Quarterly, Unaudited |  |  |  |  |  |
| *($s in millions, except per share data)* | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **Tangible Common Equity (Non-GAAP)** |  |  |  |  |  |
| (A) Total equity (GAAP) | $**9257** | $9044 | $9111 | $9316 | $8955 |
| Less: Noncontrolling interest (a) | **295** | 295 | 295 | 295 | 295 |
| Less: Preferred stock (a) | **426** | 426 | 426 | 426 | 426 |
| (B) Total common equity | $**8536** | $8322 | $8389 | $8595 | $8234 |
| Less: Intangible assets (GAAP) (b) | **1633** | 1643 | 1653 | 1663 | 1674 |
| (C) Tangible common equity (Non-GAAP) | $**6903** | $6680 | $6737 | $6931 | $6560 |
| **Tangible Assets (Non-GAAP)** |  |  |  |  |  |
| (D) Total assets (GAAP) | $**82084** | $81491 | $82152 | $82635 | $82230 |
| Less: Intangible assets (GAAP) (b) | **1633** | 1643 | 1653 | 1663 | 1674 |
| (E) Tangible assets (Non-GAAP) | $**80451** | $79849 | $80499 | $80971 | $80556 |
| **Period-end Shares Outstanding** |  |  |  |  |  |
| (F) Period-end shares outstanding | **509** | 507 | 524 | 532 | 537 |
| **Ratios** |  |  |  |  |  |
| (A)/(D) Total equity to total assets (GAAP) | **11.28%** | 11.10% | 11.09% | 11.27% | 10.89% |
| (C)/(E) Tangible common equity to tangible assets ("TCE/TA") (Non-GAAP) | **8.58%** | 8.37% | 8.37% | 8.56% | 8.14% |
| (B)/(F) Book value per common share (GAAP) | $**16.78** | $16.40 | $16.00 | $16.15 | $15.34 |
| (C)/(F) Tangible book value per common share (Non-GAAP) | $**13.57** | $13.17 | $12.85 | $13.02 | $12.22 |

---

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

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

Numbers may not total due to rounding.

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | | | | | | |
| Quarterly, Unaudited |  |  |  |  |  |  |
| *($s in millions, except per share data)* |  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **<u>Adjusted Diluted EPS</u>** |  |  |  |  |  |  |
| Net income available to common shareholders ("NIAC") (GAAP) | **a** | $**233** | $213 | $158 | $213 | $184 |
| Plus Total notable items (after-tax) (Non-GAAP) (a) |  | $**(3)** | $4 | $71 | $11 | $11 |
| Adjusted net income available to common shareholders (Non-GAAP) | **b** | $**229** | $217 | $228 | $224 | $195 |
| Diluted Shares (GAAP)<sup>8</sup> | **c** | **514** | 523 | 534 | 538 | 547 |
| **Diluted EPS (GAAP)** | **a/c** | $**0.45** | $0.41 | $0.29 | $0.40 | $0.34 |
| **Adjusted diluted EPS (Non-GAAP)** | **b/c** | $**0.45** | $0.42 | $0.43 | $0.42 | $0.36 |
| **<u>Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")</u>** |  |  |  |  |  |  |
| Net Income ("NI") (GAAP) |  | $**244** | $222 | $170 | $223 | $204 |
| Plus Relevant notable items (after-tax) (Non-GAAP) (a) |  | $**(3)** | $4 | $71 | $11 | $4 |
| Adjusted NI (Non-GAAP) |  | $**241** | $227 | $240 | $234 | $208 |
| NI (annualized) (GAAP) | **d** | $**980** | $901 | $675 | $889 | $820 |
| Adjusted NI (annualized) (Non-GAAP) | **e** | $**967** | $919 | $956 | $932 | $836 |
| Average assets (GAAP) | **f** | $**81958** | $80965 | $81950 | $82366 | $81721 |
| **ROA (GAAP)** | **d/f** | **1.20%** | 1.11% | 0.82% | 1.08% | 1.00% |
| **Adjusted ROA (Non-GAAP)** | **e/f** | **1.18%** | 1.14% | 1.17% | 1.13% | 1.02% |
| **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** | **<u>Return on Average Common Equity ("ROCE")/ Return on Average Tangible Common Equity ("ROTCE")/ Adjusted ROTCE</u>** |
| Net income available to common shareholders ("NIAC") (annualized) (GAAP) | **g** | $**933** | $864 | $627 | $849 | $739 |
| Adjusted Net income available to common shareholders (annualized) (Non-GAAP) | **h** | $**919** | $882 | $907 | $892 | $785 |
| Average Common Equity (GAAP) | **i** | $**8376** | $8389 | $8494 | $8407 | $8228 |
| Intangible Assets (GAAP) (b) |  | **1638** | 1648 | 1658 | 1669 | 1680 |
| Average Tangible Common Equity (Non-GAAP) | **j** | $**6738** | $6742 | $6836 | $6738 | $6548 |
| **ROCE (GAAP)** | **g/i** | **11.14%** | 10.30% | 7.38% | 10.10% | 8.98% |
| **ROTCE (Non-GAAP)** | **g/j** | **13.85%** | 12.81% | 9.17% | 12.60% | 11.29% |
| **Adjusted ROTCE (Non-GAAP)** | **h/j** | **13.65%** | 13.08% | 13.27% | 13.24% | 11.99% |

---

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

(b) &nbsp;&nbsp;&nbsp;&nbsp;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)* |  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **<u>Adjusted Noninterest Income as a % of Total Revenue</u>** |  |  |  |  |  |  |
| Noninterest income (GAAP) | **k** | $**189** | $181 | $99 | $200 | $186 |
| Plus notable items (pretax) (GAAP) (a) |  | **—** |  | 91 |  |  |
| Adjusted noninterest income (Non-GAAP) | **l** | $**189** | $181 | $190 | $200 | $186 |
| Revenue (GAAP) | **m** | $**830** | $812 | $729 | $828 | $815 |
| Taxable-equivalent adjustment |  | **4** | 3 | 4 | 4 | 4 |
| Revenue- Taxable-equivalent (Non-GAAP) |  | **833** | 816 | 732 | 832 | 819 |
| Plus notable items (pretax) (GAAP) (a) |  | **—** |  | 91 |  |  |
| Adjusted revenue (Non-GAAP) | **n** | $**833** | $816 | $824 | $832 | $819 |
| Securities gains/(losses) (GAAP) | **o** | $— | $— | $(91) | $1 | $1 |
| **Noninterest income as a % of total revenue (GAAP)** | **(k-o)/ (m-o)** | **22.73%** | 22.29% | 23.20% | 24.06% | 22.75% |
| **Adjusted noninterest income as a % of total revenue (Non-GAAP)** | **l/n** | **22.63%** | 22.20% | 23.10% | 23.95% | 22.64% |
| **<u>Adjusted Efficiency Ratio</u>** |  |  |  |  |  |  |
| Noninterest expense (GAAP) | **p** | $**491** | $488 | $508 | $511 | $500 |
| Plus notable items (pretax) (GAAP) (a) |  | $**4** | $(6) | $(2) | $(14) | $(5) |
| Adjusted noninterest expense (Non-GAAP) | **q** | $**495** | $482 | $506 | $497 | $495 |
| Revenue (GAAP) | **r** | $**830** | $812 | $729 | $828 | $815 |
| Taxable-equivalent adjustment |  | **4** | 3 | 4 | 4 | 4 |
| Revenue- Taxable-equivalent (Non-GAAP) |  | **833** | 816 | 732 | 832 | 819 |
| Plus notable items (pretax) (GAAP) (a) |  | **—** |  | 91 |  |  |
| Adjusted revenue (Non-GAAP) | **s** | $**833** | $816 | $824 | $832 | $819 |
| Securities gains/(losses) (GAAP) | **t** | $**—** | $— | $(91) | $1 | $1 |
| **Efficiency ratio (GAAP)** | **p/ (r-t)** | **59.20%** | 60.06% | 61.98% | 61.89% | 61.44% |
| **Adjusted efficiency ratio (Non-GAAP)** | **q/s** | **59.47%** | 59.09% | 61.43% | 59.86% | 60.47% |

---

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

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

Numbers may not total due to rounding.

------

---

| |
|:---|
| **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** |
| Quarterly, Unaudited |
| *($s in millions)* |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Period-end** | **Period-end** | **Period-end** | **Period-end** | **Average** | **Average** | **Average** | **Average** |
| | **2Q25** | **1Q25** | **2Q25 vs. 1Q25** | **2Q25 vs. 1Q25** | **2Q25** | **1Q25** | **2Q25 vs. 1Q25** | **2Q25 vs. 1Q25** |
| **Loans excluding LMC** | | | | | | | | |
| Total Loans (GAAP) | $63260 | $62215 | $1045 | 2% | $62551 | $61645 | $906 | 1% |
| &nbsp;&nbsp;&nbsp;&nbsp;LMC (GAAP) | 4058 | 3369 | 689 | 20% | 3533 | 2819 | 714 | 25% |
| Total Loans excl. LMC (Non-GAAP) | 59201 | 58846 | 356 | 1% | 59019 | 58826 | 193 | —% |
| Total Consumer (GAAP) | 14965 | 14722 | 243 | 2% | 14847 | 14694 | 153 | 1% |
| Total Commercial excl. LMC (Non-GAAP) | 44237 | 44124 | 113 | —% | 44172 | 44132 | 40 | —% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total CRE (GAAP) | 13936 | 14139 | (203) | (1)% | 14070 | 14318 | (248) | (2)% |
| &nbsp;&nbsp;&nbsp;&nbsp;Total C&I excl. LMC (Non-GAAP) | $30301 | $29985 | $316 | 1% | $30102 | $29814 | 288 | 1% |

---

Numbers may not total due to rounding.

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **<u>Allowance for credit losses to loans and leases and Allowance for credit losses to nonperforming loans and leases</u>** |  |  |  |  |  |  |
| Allowance for loan and lease losses (GAAP) | **A** | $**814** | $822 | $815 | $823 | $821 |
| Reserve for unfunded commitments (GAAP) |  | **87** | 83 | 79 | 75 | 66 |
| &nbsp;&nbsp;&nbsp;&nbsp;Allowance for credit losses (Non-GAAP) | **B** | $**901** | $905 | $894 | $897 | $887 |
| Loans and leases (GAAP) | **C** | $**63260** | $62215 | $62565 | $62445 | $62781 |
| Nonaccrual loans and leases (GAAP) | **D** | $**593** | $609 | $602 | $578 | $574 |
| Allowance for loans and lease losses to loans and leases (GAAP) | **A/C** | **1.29%** | 1.32% | 1.30% | 1.32% | 1.31% |
| Allowance for credit losses to loans and leases (Non-GAAP) | **B/C** | **1.42%** | 1.45% | 1.43% | 1.44% | 1.41% |
| Allowance for loans and lease losses to nonperforming loans and leases (GAAP) | **A/D** | **137%** | 135% | 136% | 142% | 143% |
| Allowance for credit losses to nonperforming loans and leases (Non-GAAP) | **B/D** | **152%** | 148% | 149% | 155% | 155% |

---

Numbers may not total due to rounding.

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | **CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION** | | |
| Quarterly, Unaudited | Quarterly, Unaudited | Quarterly, Unaudited | Quarterly, Unaudited |  |  |
| *($s in millions)* | *($s in millions)* | *($s in millions)* | *($s in millions)* |  |  |
|  | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **<u>Adjusted Pre-provision Net Revenue (PPNR)</u>** |  |  |  |  |  |
| Pre-tax income (GAAP) | $**309** | $285 | $210 | $281 | $260 |
| Plus notable items (pretax) (GAAP) (a) | **(4)** | 6 | 94 | 14 | 5 |
| Adjusted Pre-tax income (non-GAAP) | $**304** | $290 | $304 | $296 | $265 |
| Plus provision expense (GAAP) | **30** | 40 | 10 | 35 | 55 |
| Adjusted Pre-provision net revenue (PPNR) (non-GAAP) | $**334** | $330 | $314 | $331 | $320 |
| Taxable-equivalent adjustment | **4** | 3 | 4 | 4 | 4 |
| Pre-provision net revenue-Taxable-equivalent (Non-GAAP) | $**338** | $334 | $318 | $335 | $324 |

---

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

Numbers may not total due to rounding.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **2Q25** | 1Q25 | 4Q24 | 3Q24 | 2Q24 |
| **<u>Adjusted personnel expense excluding deferred compensation expense</u>** |  |  |  |  |  |
| Personnel expense (GAAP) | $**282** | $279 | $276 | $282 | $279 |
| Plus notable items (pretax) (GAAP) (a) | **4** |  | (2) | (1) | (1) |
| Adjusted personnel expense (non-GAAP) | $**285** | $279 | $274 | $281 | $279 |
| Less adjusted deferred compensation expense (GAAP) | **7** | (3) | 1 | 6 | 3 |
| Adjusted personnel expense excluding deferred compensation expense (non-GAAP) | $**279** | $282 | $272 | $275 | $276 |

---

(a) &nbsp;&nbsp;&nbsp;&nbsp;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**

**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.

## Exhibit 99.2

![](a2q25earningsslides001.jpg)

Second Quarter 2025 Earnings July 16, 2025

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![](a2q25earningsslides002.jpg)

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

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![](a2q25earningsslides003.jpg)

3PPNR, TBVPS, and ROTCE are non-GAAP and are reconciled to GAAP measures in the Appendix. $ in millions except per share data Reported Results 2Q25 Change vs. 2Q25 1Q25 4Q24 3Q24 2Q24 1Q25 2Q24 Net interest income $641 $631 $630 $627 $629 $10 2% $12 2% Fee income 189 181 99 200 186 7 4% 3 1% Total revenue 830 812 729 828 815 17 2% 15 2% Expense 491 488 508 511 500 3 1% (9) (2%) Pre-provision net revenue (PPNR) 339 325 220 316 315 14 4% 24 8% Provision for credit losses 30 40 10 35 55 (10) (25%) (25) (45%) Pre-tax income 309 285 210 281 260 24 8% 49 19% Income tax expense 64 63 41 58 56 2 3% 8 15% Net income 244 222 170 223 204 22 10% 41 20% Non-controlling interest 4 4 4 5 5 — —% (1) (18%) Preferred dividends 8 5 8 5 15 3 51% (7) (49%) Net income available to common shareholders (NIAC) $233 $213 $158 $213 $184 $20 9% $49 27% Diluted EPS $0.45 $0.41 $0.29 $0.40 $0.34 $0.04 10% $0.11 32% Diluted shares 514 523 534 538 547 (10) (2%) (33) (6%) ROCE 11.1% 10.3% 7.4% 10.1% 9.0% 84bps 216bps ROTCE 13.8% 12.8% 9.2% 12.6% 11.3% 104bps 256bps ROA 1.2% 1.1% 0.8% 1.1% 1.0% 9bps 20bps Net interest margin 3.40% 3.42% 3.33% 3.31% 3.38% (2bps) 2bps Fee income / total revenue 22.7% 22.3% 23.2% 24.1% 22.8% 44bps (2bps) Efficiency ratio 59.2% 60.1% 62.0% 61.9% 61.4% (86bps) (224bps) FTEs (full-time equivalent associates) 7,255 7,190 7,158 7,186 7,297 65 1% (42) (1%) CET1 ratio 11.0% 10.9% 11.2% 11.2% 11.0% 7bps (5bps) Effective tax rate 20.8% 22.0% 19.3% 20.6% 21.5% (118bps) (71bps) Tangible book value per share (TBVPS) $13.57 $13.17 $12.85 $13.02 $12.22 $0.40 3% $1.35 11% Period end loans $63.3B $62.2B $62.6B $62.4B $62.8B $1.0 2% $0.5 1% Period end deposits $65.6B $64.2B $65.6B $66.6B $64.8B $1.4 2% $0.8 1% Period end loan to deposit ratio 96% 97% 95% 94% 97% (43bps) (42bps) 2Q25 reported financial summary

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![](a2q25earningsslides004.jpg)

4 2Q25 highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 2Q25 adjusted financial results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 2Q25 notable items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 NII and NIM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Adjusted fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Adjusted expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Asset quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 2025 outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Strategic focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 **Table of Contents**

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![](a2q25earningsslides005.jpg)

5Reflects 2Q25 vs. 1Q25 results. PPNR, ROTCE, TBVPS, ACL to loans ratio, fully taxable equivalents, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. Net interest income and margin are adjusted to a fully taxable equivalent ("FTE") basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. • Maintained CET1 of 11.0%, in line with near-term target • TBVPS increased $0.40, driven by strong earnings & mark-to-market impact, supporting $0.15 of common dividends • ACL/loans ratio decrease of 3bps to 1.42% reflecting loans to mortgage companies (LMC) growth and upgrades • Adjusted PPNR of $338 million, up $4 million from 1Q25 • Adjusted ROTCE increased by 57bps from prior quarter • NII increased by $10 million, driven by loan portfolio growth • Adjusted expenses excluding deferred comp increased $4 million from prior quarter Earnings & Returns Capital & Credit Quality Period End Balance Sheet & Liquidity Adj. EPS Adj. ROTCE NIM Adj. Efficiency $0.45 13.6% 3.40% 59.5% Deposit Growth Loan Growth Loan-to-Deposit Ratio 2% 2% 96% CET1 TBVPS NCO% 11.0% $13.57 0.22% Earnings success with portfolio growth in 2Q25 • Loan-to-deposit ratio of 96%, down slightly from 1Q25 • Total deposits increase reflects incremental brokered deposits and DDA growth • Total loans increased $1 billion from 1Q25, driven by loans to mortgage companies (LMC) seasonality and continuing growth within C&I

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![](a2q25earningsslides006.jpg)

6PPNR, ROTCE, TBVPS, ACL to loans ratio, fully taxable equivalents, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. Net interest income and margin are adjusted to a fully taxable equivalent ("FTE") basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. $ in millions, except per share data Adjusted Results 2Q25 Change vs. 2Q25 1Q25 2Q24 1Q25 2Q24 Net interest income (FTE) $645 $634 $633 $10 2% $12 2% Fee income $189 $181 $186 $7 4% $3 1% Total revenue (FTE) $833 $816 $819 $17 2% $14 2% Expense $495 $482 $495 $14 3% $1 —% Pre-provision net revenue $338 $334 $324 $4 1% $14 4% Provision for credit losses $30 $40 $55 ($10) (25%) ($25) (45%) Net charge-offs $34 $29 $34 $5 16% $— —% Reserve build / (release) ($4) $11 $21 ($15) (136%) ($25) (118%) NIAC $229 $217 $195 $12 5% $34 17% EPS $0.45 $0.42 $0.36 $0.03 7% $0.09 25% Diluted shares 514 523 547 (10) (2%) (33) (6%) ROTCE 13.6% 13.1% 12.0% 57bps 166bps ROA 1.2% 1.1% 1.0% 4bps 16bps Net interest margin (NIM) 3.40% 3.42% 3.38% (2bps) 2bps Fee income / total revenue 22.6% 22.2% 22.6% 43bps (1bps) Efficiency ratio 59.5% 59.1% 60.5% 38bps (100bps) CET1 Ratio 11.0% 10.9% 11.0% 7bps (5bps) TBVPS $13.57 $13.17 $12.22 $0.40 3% $1.35 11% Effective tax rate 20.8% 22.0% 21.5% (122bps) (77bps) 2Q25 adjusted financial highlights • Adjusted EPS of $0.45, a $0.03 increase from 1Q25 • Adjusted ROTCE of 13.6%, increased 57bps from 1Q25 • Adjusted PPNR of $338 million, up 1% from 1Q25 • NII up $10 million from prior quarter driven by loan growth • NIM compression of 2bps, driven by a 4bp increase in interest-bearing deposit costs • Adjusted fee income decreased $3 million excluding deferred compensation, with fixed income ADR declining 6% • Adjusted expense excluding deferred compensation increased $4 million as advertising seasonality increased outside services expense • Provision expense of $30 million decreased $10 million from 1Q25 • Net charge-offs increased to $34 million and remained in line with expected levels • CET1 Ratio increased to 11.0% in line with near term target

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![](a2q25earningsslides007.jpg)

7 2Q25 notable items Notable Items ($ in millions, except per share data) 2Q25 FDIC special assessment (other noninterest expense) $1 Deferred compensation $4 Pre-tax impact of notable items $4 Tax impact on pre-tax notable items ($1) NIAC impact of notable items $3 EPS impact of notable items $— Pre-Tax Notable Items • Expense credit of $4 million for an accrual release in deferred compensation related to a business unit divested more than a decade ago • Expense credit of $1 million associated with an updated FDIC special assessment

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![](a2q25earningsslides008.jpg)

8 • Net interest income increased $10 million while net interest margin decreased 2bps versus 1Q25 ◦ Average interest bearing deposit costs increased by 4bps due to a slight increase in the rate paid on client deposits and higher brokered deposit balances, driven by competitive environment and loan portfolio growth ◦ Loan yields improved by 3bps as higher-yielding loans to mortgage companies balances increased • As of period end 2Q25, 56%1 of loans are indexed to short-term rates • Fixed rate cash flows over the next year include ~$5 billion of fixed rate loans with a roll-off yield of ~4.7% and $1 billion of securities at a roll-off yield of ~2.6% $633 $631 $634 $634 $645 3.38% 3.31% 3.33% 3.42% 3.40% 2Q24 3Q24 4Q24 1Q25 2Q25 Net interest income ($) and NIM (%) Loan portfolio growth drove NII increase Net interest income and margin are adjusted to a fully taxable equivalent ("FTE") basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. 1Does not include the impact of interest rate hedges. For more detail on the hedges, see slide 18 in the Appendix. $ in millions NII Margin 1Q25 $634 3.42% Days $4 — Loan Yields $6 0.03% LMC Balances $5 (0.01%) IB Rate Paid ($3) (0.02%) Other Balance Sheet Growth ($2) (0.01%) Other $0 (0.01%) 2Q25 $645 3.40%

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![](a2q25earningsslides009.jpg)

9 Period end deposits $64.8B $66.6B $65.6B $64.2B $65.6B $16.3 $16.2 $16.0 $15.8 $15.9 $18.0 $16.3 $16.0 $16.2 $14.7 $20.3 $22.3 $21.5 $20.9 $22.1 $8.0 $9.2 $10.7 $10.5 $10.5 $2.1 $2.5 $1.4 $0.8 $2.4 Noninterest bearing deposits Base rate deposits Promotional deposits & CDs Indexed deposits Brokered CDs 2Q24 3Q24 4Q24 1Q25 2Q25 Deposit balance growth supported loan portfolio increases • 2Q25 period end deposits of $65.6 billion ◦ Increase of $1.4 billion versus 1Q25 driven by a $1.6 billion increase in brokered CDs ◦ Retained ~95% of ~$23 billion of total balances for clients who experienced a promotional deposit or CD repricing event during the second quarter, while reducing costs by 6bps on these balances • 2Q25 average deposits of $64.7 billion ◦ Brokered CDs averaged $0.5 billion higher in 2Q25 ◦ Average DDA balances increased $317 million • 2Q25 interest-bearing rate paid of 2.76%, up 4bps ◦ Maintained strong repricing performance with ~72% cumulative beta since Fed rate cuts began in 3Q24 ◦ Quarter end interest-bearing deposit spot rate was ~2.78%

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10 Period end loans • 2Q25 period end loans of $63.3 billion, up 2% versus 1Q25 ◦ Loans to mortgage companies (LMC) increased $689 million reflecting seasonal trends and successful market share gains in recent quarters ◦ C&I excluding LMC grew $316 million ◦ CRE balances declined $203 million as anticipated • Period end line utilization of 43%1 • Loan yield expansion of 3bps to 5.9%, driven by the increase in loans to mortgage companies • Asset sensitive profile reflected in loan composition of 56% variable rate, 13% ARM, and 31% fixed rate3 1Utilization rates exclude loans to mortgage companies. 2Credit card & other is $0.8B in 2Q24, $0.7B in 3Q24 and 4Q24, and $0.6B in 1Q25 and 2Q25. 3Does not include the impact of interest rate hedges. For more detail on the hedges, see slide 18 in the Appendix. Diversified loan portfolio with seasonal tailwinds $62.8B $62.4B $62.6B $62.2B $63.3B $30.5B $29.8B $30.0B $30.0B $30.3B $14.7B $14.7B $14.4B $14.1B $13.9B $13.9B $14.0B $14.0B $14.1B $14.4B $2.9B $3.2B $3.5B $3.4B $4.1B C&I ex LMC Commercial real estate (CRE) Consumer real estate LMC Credit card & other² 2Q24 3Q24 4Q24 1Q25 2Q25

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11 • 2Q25 adjusted fee income excluding deferred compensation decreased $3 million from 1Q25 ◦ Fixed income declined by $7 million with average daily revenue down 6% as a result of less favorable market conditions, and decreased revenues associated with products not included in ADR ◦ Mortgage banking increased by $1 million on home purchase seasonality ◦ Service charges and fees improved by $3 million, as client transaction volume increased ◦ Other noninterest income decreased $2 million, in line with normal quarterly fluctuations Fee income stable despite fixed income headwinds Adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Fixed Income ADR is based upon Fixed Income trading revenues and excludes other product revenues (e.g. investment advisory, derivatives, loan trading and other service related revenues). $ in millions Adjusted Results 2Q25 Change vs. 2Q25 1Q25 4Q24 3Q24 2Q24 1Q25 2Q24 Fixed income $42 $49 $49 $47 $40 ($7) (15%) $2 5% Mortgage banking $10 $8 $8 $9 $10 $1 18% ($1) (6%) Service charges and fees $55 $52 $53 $59 $58 $3 5% ($3) (6%) Brokerage, trust, and insurance $39 $38 $41 $39 $38 $1 2% $1 2% Card and digital banking fees $19 $18 $19 $19 $20 $2 9% ($1) (4%) Deferred compensation income $8 $(3) $1 $6 $3 $10 NM $5 NM Securities gains/(losses) $0 $0 $0 $1 $1 $0 (53%) ($1) (81%) Other noninterest income $16 $18 $20 $20 $16 ($2) (12%) $0 2% Total fee income $189 $181 $190 $200 $186 $7 4% $3 1% Fee income ex deferred comp $181 $184 $189 $194 $183 ($3) (2%) ($2) (1%) Fixed income ADR1 $550k $586k $659k $593k $488k ($35k) (6%) $62k 13%

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12 Disciplined expense management continues delivering results • 2Q25 adjusted expense excluding deferred compensation increased $4 million versus 1Q25 ◦ Personnel expense excluding deferred compensation decreased $3 million ▪ Salaries and benefits increased $5 million, primarily due to higher day count, benefits seasonality, and strategic personnel investments ▪ Incentives and commissions decreased $8 million, reflecting a reduction from accrual adjustments made in 1Q, as well as lower retention expense ◦ Outside services increased by $7 million, largely driven by seasonal increases in advertising spend $ in millions Adjusted Results 2Q25 Change vs. 2Q25 1Q25 4Q24 3Q24 2Q24 1Q25 2Q24 Salaries and benefits $206 $201 $199 $199 $198 $5 3% $9 4% Incentives and commissions $73 $81 $73 $76 $78 ($8) (10%) ($5) (7%) Deferred compensation expense $7 $(3) $1 $6 $3 $9 NM $4 120% Total personnel expense $285 $279 $274 $281 $279 $7 2% $7 2% Occupancy and equipment1 $79 $78 $76 $73 $72 $1 1% $8 11% Outside services $71 $63 $71 $73 $75 $7 12% ($5) (6%) Amortization of intangible assets $10 $10 $11 $11 $11 $— —% ($1) (10%) Other noninterest expense $50 $52 $74 $59 $58 ($2) (3%) ($8) (13%) Adjusted total noninterest expense $495 $482 $506 $497 $495 $14 3% $1 —% Expense ex deferred comp $489 $485 $505 $491 $492 $4 1% ($3) (1%) Full-time equivalent associates 7,255 7,190 7,158 7,186 7,297 65 1% (42) (1%) Adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Occupancy and Equipment expense includes Computer Software Expense.

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13 Non-performing loans (NPLs)Allowance for credit losses (ACL) Net charge-offs FHN NCO%1 Average NCO% of BKX Index2 $34 $24 $13 $29 $34 0.22% 0.15% 0.08% 0.19% 0.22% 0.57% 0.57% 0.62% 0.57% 2Q24 3Q24 4Q24 1Q25 2Q25 FHN NCOs Strong credit performance reflects underwriting standards ACL/ loans ratio is non-GAAP and is reconciled to GAAP measures in the Appendix. 1Net charge-off % is annualized and as % of average loans. 2Excludes trust and investment banks. $887 $897 $894 $905 $901 1.41% 1.44% 1.43% 1.45% 1.42% ACL ACL/Loans 2Q24 3Q24 4Q24 1Q25 2Q25 $574 $578 $602 $609 $593 0.91% 0.92% 0.96% 0.98% 0.94% NPLs $ NPLs % 2Q24 3Q24 4Q24 1Q25 2Q25 • 2Q25 net charge-offs of $34 million in line with expectations ◦ NCO ratio of 0.22%, consistent with guidance ◦ Results include $9 million of recoveries • Provision expense of $30 million in 2Q25 ◦ 2Q25 ACL to loans ratio decreased to 1.42% primarily reflecting growth in loans to mortgage companies, a $17 million decline in NPLs, and reductions in classified graded credits • NPL ratio of 94bps, down 4bps from 1Q25

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14 10.9% 0.33% (0.11)% (0.01)% (0.13)% (0.01)% 11.0% 1Q25 Actual NIAC Common Dividend Share Buybacks Change in Loan Balances & Unfunded Commitments Other¹ 2Q25 Estimate Capital Ratios Common Equity Tier 1 (CET1) Tangible Book Value per Share (TBVPS) 14.0% 14.2% 14.2% 14.1% 14.0% CET1 ratio Tier 1 capital ratio Total capital ratio 2Q24 3Q24 4Q24 1Q25 2Q25 Maintained target near term capital levels $13.17 $0.48 $(0.15) $0.14 $(0.01) $(0.06) $13.57 1Q25 Actual NIAC Impact² Common Dividends Marks on AFS & Hedges Share Buybacks Other¹ 2Q25 Actual • CET1 ratio increased slightly to 11.0% ◦ Deployed excess capital primarily through loan portfolio growth with additional opportunistic share repurchases ◦ Capital priorities focused on ongoing safety and soundness and profitable organic deployment into the loan portfolio • TBVPS of $13.57 increased $0.40 versus 1Q25, primarily driven by NIAC and mark-to- market impacts, which were partially offset by the $0.15 common dividend TBVPS and adjusted financial measures are non-GAAP and are reconciled to GAAP measures in the Appendix. 1Other includes equity compensation. 2Net of change in intangibles. 11.0% 11.2% 11.2% 10.9% 11.0% 11.9%12.2%12.2%12.1% 12.0%

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15 Earnings Drivers FY24 Adjusted Baseline FY25 vs FY24 Expectations Comments Adjusted Revenue (excluding deferred comp) $3,279 million Flat - Up 4% Composition of revenue will be driven by the quantity and pace of interest rate cuts and other macroeconomic variables. Adjusted Expense (excluding deferred comp) $1,978 million Flat - Up 2% Prior: Up 2% - 4% Strong expense management in 1H25 coupled with lower commissions in countercyclical fee businesses drove performance and led to guidance update. Net Charge-Offs 0.18% 0.15% - 0.25% Maintaining a range of possibilities as macroeconomic conditions evolve. Tax Rate 21.4% 21% - 23% Timing of discrete items impacts quarterly rate. CET1 Ratio 11.2% 10.5% - 11.0% Reflects expectations for modest loan growth in addition to opportunistic deployment of excess capital. Adjusted financial measures, including measures excluding deferred compensation and fully taxable equivalents, are non-GAAP and are reconciled to GAAP measures in the Appendix. Net interest income is adjusted to a fully taxable equivalent ("FTE") basis assuming a statutory federal income tax of 21 percent and, where applicable, state income taxes. Variability in deferred compensation may impact growth rates in noninterest income and noninterest expense but should have an offsetting and immaterial impact on pretax income. 2025 outlook reflects earnings growth expectations

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

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Appendix

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18 Actively managing liquidity and interest rate sensitivity Variable 56% Fixed 31% ARMs 13% $63.3B Floors 60% Swaps 40% $5.0B Loan repricing profile Balance sheet hedges Modest interest rate sensitivity1 +100bps +2.0% -100bps -2.9% • Modestly asset-sensitive profile driven by 56% variable rate loan mix • Within the ARM portfolio, only 7% of loans will be in their variable period within the next year • Floors with strike prices between 1.25% and 2.5% and maturities ranging from late 2027 to early 2029 • Receive fixed swaps with fixed rates between 2.6% and 3.0% and maturities in 2027 and 2029 1Estimate as of 6/30/25. change in the next 12 months' NII for an instantaneous, parallel shock on a static balance sheet Insured 59% Neither 34%7% $65.6B 66% of deposits insured or collateralized Collateralized • Commercial deposits of $37 billion or 57% and consumer deposits of $28 billion or 43% • Attractive lower-cost deposit base with 24% comprised of non-interest bearing products • Contingency funding plan equates to ~146% of uninsured or uncollateralized deposits

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19 Track record of strong results supported by stable, diversified business mix • Our diversified business model with a highly attractive geographic footprint provides opportunity to deliver strong performance through a variety of economic cycles • The counter-cyclical businesses (fixed income, loans to mortgage companies, and mortgage) provide a counterbalance to the asset sensitive balance sheet during periods of declining interest rates Adjusted pre-provision net revenue (PPNR) is a non-GAAP measure and is reconciled to pre-tax income (GAAP) in the Appendix. Numbers may not total due to rounding. 12019 and 1H20 are standalone FHN, as the IBKC merger-of-equals did not occur until July 1, 2020. 2Counter-cyclical PPNR includes direct and allocated fees and expenses, as well as net interest income net of funds transfer pricing. $754 $1,084 $1,222 $1,374 $1,370 $1,299 $1,355 All Other Adjusted PPNR Counter-Cyclicals² Avg Fed Funds Effective Rate 2019¹ (pre-IBKC) 2020¹ (IBKC in 2H20) 2021 2022 2023 2024 2025 YTD Annualized $— $200 $400 $600 $800 $1,000 $1,200 $1,400 0% 1% 2% 3% 4% 5% 6% 7% 8% $158 / 21% $406 / 37% $347 / 28% $81 / 6% $26 / 2% $108 / 8% $596 / 79% $678 / 63% $875 / 72% $1,266 / 92% $1,344 / 98% $1,218 / 94% Adjusted PPNR in millions Average Fed Funds Effective $94 / 7% 1,261 / 93%

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20 20 07 20 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 20 16 20 17 20 18 20 19 20 20 20 21 20 22 20 23 20 24 —% 2.00% 4.00% 6.00% $0.0 $0.5 $1.0 $1.5 $2.0 FHN Financial's strong full-cycle returns are counter-cyclical to bank franchise Lower Revenue Market Factor Higher Revenue 2023 Environment 2024 Environment Up Rate Direction Down Rapid increase in short term rates Decline in short-term rates Extreme (low/high) Market Volatility Moderate Extreme - MOVE index sharply higher MOVE index elevated Flat/Inverted Yield Curve Shape Steep Strongly inverted Slightly inverted Tight Corporate & Mortgage Spreads Wide Wide Wide Lower Depository Liquidity Greater Constrained - exacerbated by QT Constrained, but improving • FHN Financial provides fixed income sales & trading, investment advisory, interest rate derivatives and other services to financial institutions, municipalities and other institutional investors across the United States and internationally • In addition to trading revenues, FHN Financial generates ~$40 million annually of fee income from other products, including investment advisory, derivatives, loan trading and other service related revenue • 4,000+ active institutional clients • Clients include approximately one third of all US banks and 50% of banks with portfolios over $100 million in size FOMC easing during GFC FOMC ZIRP Policy Normalizing FOMC Policy FOMC easing during pandemic FOMC tightening to fight inflation Fed Funds Average ADR in millions $1.6 $1.2 $0.7 $1.3 $0.5 Early stage of FOMC easing $0.6

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21 Multi-family 65% Office 2% All other CRE 33% Land 2% Construction 10% Other CRE 3% Hospitality 9% Industrial 14% Retail 15% Office 19% Multi-Family 28% RE installment loans 82% HELOC 14% Credit card & other 4% Industry & product diversification: total loan portfolio Total loans $63.3B Consumer $15.0B C&I $34.4B Total loan portfolio Consumer by product CRE $13.9B • C&I ◦ No more than 12% C&I exposure to any industry ◦ Period end line utilization of 44%1 • CRE ◦ No significant upcoming repricing events, as ~72% of loans are floating and ~$3B on average maturing annually through 2027 ◦ Granular portfolio with only 11 loans with commitments above $50 million ◦ Medical office comprises 51% of $2.7B office exposure • Consumer ◦ Consumer portfolio focused on real estate, with negligible exposure to auto or consumer credit card Numbers may not total to 100% due to rounding. 1Utilization rates exclude loans to mortgage companies. C&I by industry CRE by property type C&I 54% CRE 22% Consumer 24% Other 14 Industries 25% Mortgage Warehouse 12% Real Estate & Leasing 11% Finance & Insurance 11% Health Care & Social Assistance 8%Wholesale Trade 7% Manufacturing 7% Accommodation & Food Service 6% Retail Trade 5% Transportation & Warehousing 5% Energy 3%

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22 Geographic diversification: commercial loan portfolio 27% TN 20% FL 13% TX 10% NC 7% LA 6% GA 4% SC 2% Other SE1 11% $34.4B 8% FL 28% TX 20% GA 14% NC 9% TN 7% LA 4% Other SE1 7% 7% NC 20% FL 16% TN 14% GA 13% TX 12% LA 8% SC 4% Other SE1 6% 15% FL 26% NC 14% LA 10% TN 9% TX 9% GA 6% SC 4% Other SE1 7% 12% FL 26% TX 13% NC 12% GA 10% TN 9% LA 7% SC 4% Other SE1 7% SC 3% Total C&I Multi- family Traditional office Other CRE Total CRE $4.7B $1.3B $7.9B $13.9B C&I CRE C&I exposure to markets outside the southeast primarily driven by specialty businesses with no state accounting for more than 6% $48.3B commercial loan portfolio with 77% in attractive southeastern footprint All loan balances are period end unless otherwise noted. Numbers may not total 100% due to rounding. 1Other southeastern (SE) includes AR, AL, MS, and VA. Map excludes $11.0B of loans outside of the southeastern footprint driven by specialty business lines Southeastern (SE) footprint All other

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23 2Q25 investment portfolio composition2 Steady principal cash flows3 Investment portfolio $0.3B $0.3B $0.3B $0.2B 3Q25 4Q25 1Q26 2Q26 Agency MBS 41% Agency CMBS 28% Agency CMO 16% U.S. Agencies & Treasury 12% States & Municipalities 4% $9.3B $9.4B $9.3B $9.2B $9.3B 2.58% 2.58% 2.69% 3.02% 3.06% Average AFS Securities Average HTM Securities Average Yield 2Q24 3Q24 4Q24 1Q25 2Q25 Investment portfolio prudently managed to support liquidity and IRR • 2Q25 investment portfolio represents ~11% of total assets ◦ Moderate total portfolio effective duration of 4.4 years ◦ Low reliance on the HTM designation at ~13% of total portfolio ◦ 96% U.S. government or agency-backed by GSEs • 2Q25 total unrealized losses on the AFS and HTM portfolios of $1.0B, consistent with 1Q25 levels 1Unpledged securities and securities pledged in excess of collateral requirements divided by total securities. 2Calculated based on period end market values. 3Estimated as of 6/30/2025; includes maturities and projected calls. 2Q24 3Q24 4Q24 1Q25 2Q25 % of total assets 11% 11% 11% 11% 11% Pre-tax unrealized losses ($1.4B) ($1.0B) ($1.2B) ($1.0B) ($1.0B) Effective duration (years) 4.9 4.6 4.8 4.5 4.4 Excess collateral ratio1 25% 38% 29% 36% 30%

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24 Notable Items Numbers may not total due to rounding. \* 4Q24, 3Q24, and 2Q24 include $3 million, $2 million, and $3 million of restructuring expenses; 1Q25 and 3Q24 include $5 million and $15 million of Visa derivative valuation expenses. \*\* 2Q24 includes $7 million deemed dividends on the redemption of $100 million par value of Series D Preferred Stock. $ in millions, except EPS 2Q25 1Q25 4Q24 3Q24 2Q24 Summary of Notable Items: Loss on AFS portfolio restructuring $— $— $(91) $— $— Deferred compensation adjustment $4 $— $— $— $— FDIC special assessment (other noninterest expense) $1 $(1) $1 $2 $(2) Other notable expenses \* $— $(5) $(3) $(17) $(3) Total notable items (pre-tax) $4 $(6) $(94) $(14) $(5) Tax-related notable items $— $— $— $— $— Preferred Stock Dividend \*\* $— $— $— $— $(7)

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25 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. (a) Included in total equity on the Consolidated Balance Sheet. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding. $s in millions, except per share data Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 Tangible Common Equity (non-GAAP) (A) Total equity (GAAP) $9,257 $9,044 $9,111 $9,316 $8,955 Less: Noncontrolling interest (a) 295 295 295 295 295 Less: Preferred stock (a) 426 426 426 426 426 (B) Total common equity $8,536 $8,322 $8,389 $8,595 $8,234 Less: Intangible assets (GAAP) (b) 1,633 1,643 1,653 1,663 1,674 (C) Tangible common equity (non-GAAP) $6,903 $6,680 $6,737 $6,931 $6,560 Tangible Assets (non-GAAP) (D) Total assets (GAAP) $82,084 $81,491 $82,152 $82,635 $82,230 Less: Intangible assets (GAAP) (b) 1,633 1,643 1,653 1,663 1,674 (E) Tangible assets (non-GAAP) $80,451 $79,849 $80,499 $80,971 $80,556 Period end Shares Outstanding (F) Period end shares outstanding 509 507 524 532 537 Ratios (A)/(D) Total equity to total assets (GAAP) 11.28% 11.10% 11.09% 11.27% 10.89% (C)/(E) Tangible common equity to tangible assets ("TCE/TA") (non-GAAP) 8.58% 8.37% 8.37% 8.56% 8.14% (B)/(F) Book value per common share (GAAP) $16.78 $16.40 $16.00 $16.15 $15.34 (C)/(F) Tangible book value per common share (non-GAAP) $13.57 $13.17 $12.85 $13.02 $12.22

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26 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. $s in millions, except per share data Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 Adjusted EPS Net income available to common shareholders ("NIAC") (GAAP) a $233 $213 $158 $213 $184 Plus Total notable items (after-tax) (non-GAAP) (a) (3) 4 71 11 11 Adjusted net income available to common shareholders (non-GAAP) b $229 $217 $228 $224 $195 Diluted Shares (GAAP) c 514 523 534 538 547 EPS (GAAP) a/c $0.45 $0.41 $0.29 $0.40 $0.34 Adjusted EPS (non-GAAP) b/c $0.45 $0.42 $0.43 $0.42 $0.36 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $244 $222 $170 $223 $204 Plus Relevant notable items (after-tax) (Non-GAAP) (a) $(3) $4 $71 $11 $4 Adjusted NI (Non-GAAP) $241 $227 $240 $234 $208 NI (annualized) (GAAP) d $980 $901 $675 $889 $820 Adjusted NI (annualized) (Non-GAAP) e $967 $919 $956 $932 $836 Average assets (GAAP) f $81,958 $80,965 $81,950 $82,366 $81,721 ROA (GAAP) d/f 1.20% 1.11% 0.82% 1.08% 1.00% Adjusted ROA (Non-GAAP) e/f 1.18% 1.14% 1.17% 1.13% 1.02% 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 $933 $864 $627 $849 $739 Adjusted Net income available to common shareholders (annualized) (Non-GAAP) h $919 $882 $907 $892 $785 Average Common Equity (GAAP) i $8,376 $8,389 $8,494 $8,407 $8,228 Intangible Assets (GAAP) (b) $1,638 $1,648 $1,658 $1,669 $1,680 Average Tangible Common Equity (Non-GAAP) j $6,738 $6,742 $6,836 $6,738 $6,548 ROCE (GAAP) g/i 11.14% 10.30% 7.38% 10.10% 8.98% ROTCE (Non-GAAP) g/j 13.85% 12.81% 9.17% 12.60% 11.29% Adjusted ROTCE (Non-GAAP) h/j 13.65% 13.08% 13.27% 13.24% 11.99% (a) Adjusted for notable items as detailed on page 24. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not total due to rounding.

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27 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. $s in millions Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) k $189 $181 $99 $200 $186 Plus notable items (pretax) (GAAP) (a) $— $— $91 $— $— Adjusted noninterest income (Non-GAAP) l $189 $181 $190 $200 $186 Revenue (GAAP) m $830 $812 $729 $828 $815 Taxable-equivalent adjustment $4 $3 $4 $4 $4 Revenue- Taxable-equivalent (Non-GAAP) $833 $816 $732 $832 $819 Plus notable items (pretax) (GAAP) (a) $— $— $91 $— $— Adjusted revenue (Non-GAAP) n $833 $816 $824 $832 $819 Securities gains/(losses) (GAAP) o $— $— $(91) $1 $1 Noninterest income as a % of total revenue (GAAP) (k-o)/ (m-o) 22.73% 22.29% 23.20% 24.06% 22.75% Adjusted noninterest income as a % of total revenue (Non-GAAP) l/n 22.63% 22.20% 23.10% 23.95% 22.64% Adjusted Efficiency Ratio Noninterest expense (GAAP) p $491 $488 $508 $511 $500 Plus notable items (pretax) (GAAP) (a) $4 $(6) $(2) $(14) $(5) Adjusted noninterest expense (Non-GAAP) q $495 $482 $506 $497 $495 Revenue (GAAP) r $830 $812 $729 $828 $815 Taxable-equivalent adjustment 4 3 4 4 4 Revenue- Taxable-equivalent (Non-GAAP) 833 816 732 832 819 Plus notable items (pretax) (GAAP) (a) — — 91 — — Adjusted revenue (Non-GAAP) s $833 $816 $824 $832 $819 Securities gains/(losses) (GAAP) t $— $— $(91) $1 $1 Efficiency ratio (GAAP) p/ (r-t) 59.20% 60.06% 61.98% 61.89% 61.44% Adjusted efficiency ratio (Non-GAAP) q/s 59.47% 59.09% 61.43% 59.86% 60.47% (a) Adjusted for notable items as detailed on page 24. Numbers may not total due to rounding.

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28 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. $s in millions Period end Average 2Q25 1Q25 2Q25 vs. 1Q25 2Q25 1Q25 2Q25 vs. 1Q25 Loans excluding LMC Total Loans (GAAP) $63,260 $62,215 $1,045 2% $62,551 $61,645 $906 1% LMC (GAAP) 4,058 3,369 689 20% 3,533 2,819 714 25% Total Loans excl. LMC (non-GAAP) 59,201 58,846 356 1% 59,019 58,826 193 —% Total Consumer (GAAP) 14,965 14,722 243 2% 14,847 14,694 153 1% Total Commercial excl. LMC (non-GAAP) 44,237 44,124 113 —% 44,172 44,132 40 —% Total CRE (GAAP) 13,936 14,139 (203) (1)% 14,070 14,318 (248) (2)% Total C&I excl. LMC (non-GAAP) $30,301 $29,985 $316 1% $30,102 $29,814 $288 1% $s in millions Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 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 $814 $822 $815 $823 $821 Reserve for unfunded commitments (GAAP) 87 83 79 75 66 Allowance for credit losses (Non-GAAP) B $901 $905 $894 $897 $887 Loans and leases (GAAP) C $63,260 $62,215 $62,565 $62,445 $62,781 Nonaccrual loans and leases (GAAP) D $593 $609 $602 $578 $574 Allowance for loans and lease losses to loans and leases (GAAP) A/C 1.29% 1.32% 1.30% 1.32% 1.31% Allowance for credit losses to loans and leases (Non-GAAP) B/C 1.42% 1.45% 1.43% 1.44% 1.41% Allowance for loans and lease losses to nonperforming loans and leases (GAAP) A/D 137% 135% 136% 142% 143% Allowance for credit losses to nonperforming loans and leases (Non-GAAP) B/D 152% 148% 149% 155% 155% Numbers may not total due to rounding.

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29 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. (a) Adjusted for notable items as detailed on page 24. Numbers may not total due to rounding. $s in millions Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 Adjusted noninterest income excluding deferred compensation income Noninterest income (GAAP) $189 $181 $99 $200 $186 Plus notable items (pretax) (GAAP) (a) — — 91 — — Adjusted noninterest income (non-GAAP) $189 $181 $190 $200 $186 Less deferred compensation income (GAAP) 8 (3) 1 6 3 Adjusted noninterest income excluding deferred compensation income (non-GAAP) $181 $184 $189 $194 $183 Adjusted revenue excluding deferred compensation income Revenue (GAAP) $830 $812 $729 $828 $815 Taxable-equivalent adjustment $4 $3 $4 $4 $4 Revenue- Taxable-equivalent (non-GAAP) $833 $816 $732 $832 $819 Plus notable items (pretax) (GAAP) (a) $— $— $91 $— $— Adjusted revenue (non-GAAP) $833 $816 $824 $832 $819 Less deferred compensation income (GAAP) 8 (3) 1 6 3 Adjusted revenue excluding deferred compensation income (non-GAAP) $826 $818 $823 $826 $816 Adjusted noninterest expense excluding deferred compensation expense Noninterest expense (GAAP) $491 $488 $508 $511 $500 Plus notable items (pretax) (GAAP) (a) $4 $(6) $(2) $(14) $(5) Adjusted noninterest expense (non-GAAP) $495 $482 $506 $497 $495 Less adjusted deferred compensation expense (GAAP) 7 (3) 1 6 3 Adjusted noninterest expense excluding deferred compensation expense (non-GAAP) $489 $485 $505 $491 $492 Adjusted personnel expense excluding deferred compensation expense Personnel expense (GAAP) $282 $279 $276 $282 $279 Plus notable items (pretax) (GAAP) (a) $4 $— $(2) $(1) $(1) Adjusted personnel expense (non-GAAP) $285 $279 $274 $281 $279 Less adjusted deferred compensation expense (GAAP) 7 (3) 1 6 3 Adjusted personnel expense excluding deferred compensation expense (non-GAAP) $279 $282 $272 $275 $276

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30 Reconciliation to GAAP financials Slides in this presentation use non-GAAP information. That information is not presented according to generally accepted accounting principles (GAAP) and is reconciled to GAAP information below. (a) Adjusted for notable items as detailed on page 24. Numbers may not total due to rounding. Notable items can be found in the appendices of earnings releases in previously furnished 8-K filings related to the periods shown. $s in millions Quarterly, Unaudited 2Q25 1Q25 4Q24 3Q24 2Q24 Adjusted Pre-provision Net Revenue (PPNR) Pre-tax income (GAAP) $309 $285 $210 $281 $260 Plus notable items (pretax) (GAAP) (a) (4) 6 94 14 5 Adjusted Pre-tax income (non-GAAP) $304 $290 $304 $296 $265 Plus provision expense (GAAP) 30 40 10 35 55 Adjusted Pre-provision net revenue (PPNR) (non-GAAP) $334 $330 $314 $331 $320 Taxable-equivalent adjustment 4 3 4 4 4 Pre-provision net revenue-Taxable-equivalent (non-GAAP) $338 $334 $318 $335 $324 $s in millions 2024 2025 YTD 2019 2020 2021 2022 2023 Annualized Adjusted Pre-provision Net Revenue (PPNR) Pre-tax Income (GAAP) $586 $933 $1,284 $1,159 $1,128 $1,005 $1,238 Provision Expense (GAAP) 45 503 (310) 95 260 150 120 Total PPNR (non-GAAP) $631 $1,436 $974 $1,254 $1,388 $1,155 $1,358 Taxable-equivalent adjustment (9) (11) (12) (13) (16) (15) (14) Notable Items (GAAP) (a) (114) 363 (235) (107) 33 (129) 17 Adjusted PPNR (non-GAAP) $754 $1,084 $1,222 $1,374 $1,370 $1,299 $1,355 All Other adjusted PPNR (non-GAAP) $596 $678 $875 $1,266 $1,344 $1,218 $1,261 Counter-cyclical Adjusted PPNR (non-GAAP) $158 $406 $347 $108 $26 $81 $94

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