Form 8-K - Current report

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

October 16, 2024

Date of Report (date of earliest event reported)

(Exact name of registrant as specified in its charter)


TN	001-15185		62-0803242
(State or other jurisdiction of incorporation)	(Commission File Number)		(I.R.S. Employer Identification No.)

165 Madison Avenue	Memphis,	Tennessee	38103
(Address of Principal Executive Offices)			(Zip Code)

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

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

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

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

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

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

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

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


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

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

Emerging growth company ☐

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

ITEM 2.02. Results of Operations and Financial Condition.

ITEM 7.01. Regulation FD Disclosure.

Furnished as Exhibit 99.1 is a copy of the First Horizon Corporation (“FHN” or "First Horizon") Third Quarter 2024 Earnings Release, released today.

Furnished as Exhibit 99.2 is a copy of the Investor Slide Presentation for the quarter ended September 30, 2024, 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.” 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

The 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. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other expressions that indicate future events and trends identify forward-looking statements. 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. Examples of uncertainties and contingencies include those mentioned: in the 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 this year. FHN assumes no obligation to update or revise any forward-looking statements that are made in the exhibits 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 mentioned in the reports listed above, those factors presented in the exhibits furnished by this report, and other factors not listed. Throughout the exhibits furnished by this report, numbers may not foot due to rounding, references to EPS are fully diluted and capital ratios for the most recent quarter are estimates.


FIRST HORIZON CORPORATION			2			FORM 8-K CURRENT REPORT 10/16/2024

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, is not to be considered “filed” under the Securities Exchange Act of 1934, as amended (“Exchange Act”), and shall not be incorporated by reference into any of FHN’s previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act.


Exhibit #						Description

99.1						First Horizon Corporation Third Quarter 2024 Earnings Release
99.2						First Horizon Corporation Investor Slide Presentation for the quarter ended September 30, 2024
104						Cover Page Interactive Data File, formatted in Inline XBRL


FIRST HORIZON CORPORATION			3			FORM 8-K CURRENT REPORT 10/16/2024

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

(Registrant)

Date:

October 16, 2024

By:

/s/ Hope Dmuchowski

Hope Dmuchowski

Senior Executive Vice President—Chief Financial Officer

(Duly Authorized Officer and Principal Financial Officer)


FIRST HORIZON CORPORATION			4			FORM 8-K CURRENT REPORT 10/16/2024

First Horizon Corporation's Momentum Continues with Strong Third Quarter 2024 Results

Net Income Available to Common Shareholders of $213 Million or EPS of $0.40;

$224 Million or $0.42 on an Adjusted Basis, both up $0.06 from prior quarter*

3Q24 ROTCE of 12.6% and Adjusted ROTCE of 13.2% with Tangible Book Value per Share of $13.02, up $0.81 QoQ*

MEMPHIS, TN (October 16, 2024) – First Horizon Corporation (NYSE: FHN or “First Horizon”) today reported third quarter net income available to common ("NIAC") shareholders of $213 million or earnings per share of $0.40, compared with second quarter 2024 net income available to common of $184 million or earnings per share of $0.34. Third quarter 2024 results were reduced by a net $11 million after-tax, or $0.02 per share, of notable items compared with $11 million, or $0.02 per share, in second quarter 2024. Excluding notable items, adjusted third quarter 2024 NIAC was $224 million or $0.42 per share compared to $195 million or $0.36 per share in second quarter 2024.

“We delivered 18% growth in earnings per share compared to the prior quarter, driven by strong performance from our counter-cyclical businesses. Our results reflect the strength of our diversified business model and our continued focus on growing and deepening client relationships,” said Chairman, President and Chief Executive Officer Bryan Jordan. “Our credit quality remains stable, with net charge-offs declining for the second consecutive quarter and modest increase in our reserve coverage."

Jordan continued, “We remain intently focused on continuing to support our associates, clients and communities devastated by recent hurricanes throughout the arduous recovery process. I am incredibly proud of the way the First Horizon team prepared for and responded to these catastrophic events, demonstrating profound empathy and concern for our affected associates and an unwavering commitment to serve our clients and communities in extraordinary ways, especially during their greatest times of need.”

Notable Items


Notable Items
Quarterly, Unaudited ($ in millions, except per share data)	3Q24		2Q24		3Q23
Summary of Notable Items:






FDIC special assessment (other noninterest expense)	$	2	$	(2)	$	—
Other notable expenses	(17)		(3)		(10)
Total notable items (pre-tax)	$	(14)	$	(5)	$	(10)
Total notable items (after-tax)	$	(11)	$	(11)	$	(20)

Numbers may not foot due to rounding.

Third quarter pre-tax notable items include an expense credit for the FDIC special assessment of $2 million and other notable items of $17 million, including $15 million of Visa derivative valuation expense related to the escrow funding that occurred in September and $2 million of restructuring costs.

*References to "Adjusted" results exclude notable items and, along with ROTCE and certain other financial measures, are non-GAAP Financial Measures. All references to loans include leases. All references to earnings per share are based on diluted shares. 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.


SUMMARY RESULTS
Quarterly, Unaudited

										3Q24 Change vs.
($s in millions, except per share and balance sheet data)	3Q24			2Q24			3Q23			2Q24					3Q23
										$/bp			%		$/bp			%
Income Statement
Interest income - taxable equivalent1	$	1,123		$	1,097		$	1,084		$	26		2	%	$	39		4	%
Interest expense- taxable equivalent1	491			464			475			28			6		17			4
Net interest income- taxable equivalent	631			633			609			(2)			—		22			4
Less: Taxable-equivalent adjustment	4			4			4			—			(10)		—			(2)
Net interest income	627			629			605			(1)			—		23			4
Noninterest income	200			186			173			14			8		27			15
Total revenue	828			815			778			13			2		49			6
Noninterest expense	511			500			474			11			2		37			8
Pre-provision net revenue3	316			315			304			2			1		12			4
Provision for credit losses	35			55			110			(20)			(36)		(75)			(68)
Income before income taxes	281			260			194			22			8		87			45
Provision for income taxes	58			56			52			2			4		6			12
Net income	223			204			142			20			10		81			57
Net income attributable to noncontrolling interest	5			5			5			—			—		—			—
Net income attributable to controlling interest	218			199			137			20			10		81			59
Preferred stock dividends	5			15			8			(10)			(66)		(3)			(37)
Net income available to common shareholders	$	213		$	184		$	129		$	30		16	%	$	84		65	%

Adjusted net income4	$	234		$	208		$	163		$	27		13	%	$	71		43	%
Adjusted net income available to common shareholders4	$	224		$	195		$	150		$	29		15	%	$	74		49	%
Common stock information
EPS	$	0.40		$	0.34		$	0.23		$	0.06		18	%	$	0.17		72	%
Adjusted EPS4	$	0.42		$	0.36		$	0.27		$	0.06		17	%	$	0.15		56	%


Diluted shares8	538			547			561			(9)			(2)	%	(23)			(4)	%
Key performance metrics
Net interest margin6	3.31		%	3.38		%	3.17		%	(7)		bp			14		bp

Efficiency ratio	61.89			61.44			60.96			45					93
Adjusted efficiency ratio4	59.86			60.47			59.43			(61)					43
Effective income tax rate	20.58			21.49			26.67			(91)					(609)
Return on average assets	1.08			1.00			0.68			8					40
Adjusted return on average assets4	1.13			1.02			0.78			11					35
Return on average common equity (“ROCE")	10.1			9.0			6.3			112					382

Return on average tangible common equity (“ROTCE”)4	12.6			11.3			8.0			131					465
Adjusted ROTCE4	13.2			12.0			9.2			125					403
Noninterest income as a % of total revenue	24.06			22.75			22.23			131					183
Adjusted noninterest income as a % of total revenue4	23.95		%	22.64		%	22.11		%	131		bp			184		bp
Balance Sheet (billions)
Average loans	$	62.4		$	62.0		$	61.4		$	0.4		1	%	$	1.0		2	%
Average deposits	66.3			65.0			66.5			1.3			2		(0.3)			—
Average assets	82.4			81.7			83.2			0.6			1		(0.9)			(1)
Average common equity	$	8.4		$	8.2		$	8.2		$	0.2		2	%	$	0.2		3	%
Asset Quality Highlights

Allowance for credit losses to loans and leases4	1.44		%	1.41		%	1.36		%	3		bp			8		bp

Nonperforming loan and leases ratio	0.92		%	0.91		%	0.64		%	1		bp			28		bp
Net charge-off ratio	0.15		%	0.22		%	0.61		%	(6)		bp			(45)		bp
Net Charge-offs	$	24		$	34		$	95		$	(10)		(29)	%	$	(71)		(75)	%
Capital Ratio Highlights (current quarter is an estimate)



Common Equity Tier 1	11.2		%	11.0		%	11.1		%	18		bp			11		bp
Tier 1	12.2			12.1			12.1			19					12
Total Capital	13.9			13.7			13.6			21					26
Tier 1 leverage	10.6		%	10.6		%	10.5		%	3		bp			17		bp

Numbers may not foot due to rounding.

See footnote disclosures on page 19.

Third Quarter 2024 versus Second Quarter 2024

Net interest income

Net interest income (FTE) decreased $2 million to $631 million and net interest margin of 3.31% declined 7 basis points. Both changes were driven by increased deposit costs and higher levels of brokered deposits, partially offset by improvement within loan repricing.

Noninterest income

Noninterest income increased $14 million to $200 million, driven by a $7 million pick up in fixed income production ahead of anticipated rate cuts, as well $5 million of various other noninterest income items, including securities and other gains, higher Federal Home Loan Bank (FHLB) dividends, and bank owned life insurance (BOLI) benefits.

Noninterest expense

Noninterest expense of $511 million increased $11 million from the prior quarter. Third quarter notable items included a $2 million expense credit for the FDIC special assessment, $2 million of restructuring costs, and a $15 million impact related to Visa derivative valuation expenses. Adjusted noninterest expense of $497 million increased $2 million, including $3 million higher deferred compensation. A reduction in incentives from lower retention expense helped offset higher salary and benefits expense associated with higher day count and higher medical expenses.

Loans and leases

Average loan and lease balances of $62.4 billion were up $0.4 billion, or 1%, compared to the prior quarter, while period-end balances of $62.4 billion decreased $0.3 billion or 1% from second quarter 2024. Continued strong performance within loans to mortgage companies (LMC) partially offset reductions to C&I balances that were driven by a portfolio sale. Loan yields of 6.37% improved 3 basis points from wider spreads on new and renewing loans, as well as continued repricing of fixed rate cash flows.

Deposits

Average deposits of $66.3 billion increased $1.3 billion, or 2%, from second quarter 2024. Period-end deposits of $66.6 billion increased $1.8 billion, or 3%, from the prior quarter, as customer interest-bearing deposits increased by almost $1 billion and brokered deposits increased by $0.9 billion. Interest-bearing deposit cost of 3.44% increased 14 basis points from the prior quarter, with a spot rate of ~3.33% at the end of the quarter.

Asset quality

Provision expense of $35 million decreased $20 million from the previous quarter. Net charge-offs were $24 million or 15 basis points. Nonperforming loans of $578 million increased $4 million, with the increase in C&I slightly exceeding declines in consumer and commercial real estate. The ACL to loans ratio increased modestly from 1.41% in second quarter 2024 to 1.44%, driven by $8 million of qualitative reserves for Hurricane Helene and continued grade migration, partially offset by more favorable economic scenarios.

Capital

CET1 ratio of 11.2%, increased from 11.0% in second quarter 2024 as $75 million of excess capital was returned to shareholders through the share repurchase program. FHN repurchased 5 million shares of common stock in third quarter 2024 at an average price paid of $15.80. Year-to-date, FHN repurchased 29 million shares of common stock or $441 million under the $650 million share repurchase program, with an average price paid of $15.03, outperforming the volume weighted average price (VWAP) by $0.12.

Income taxes

The effective tax rate and the adjusted effective tax rate for third quarter 2024 were 20.6% and 20.8%, respectively, compared with an effective tax rate and adjusted tax rate of 21.5% in second quarter 2024.

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. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other expressions that indicate future events and trends identify forward-looking statements. 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. Examples of uncertainties and contingencies 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. 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 mentioned in the reports listed above, those factors presented in the exhibits to that form 8-K, and other factors not listed.

Throughout this document, numbers may not foot 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, provide 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 October 16, 2024 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 622725. 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 October 16 until midnight CT on October 30, 2024. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 856467. A replay of the webcast will also be available on our website on October 16 and will be archived on the site for one year.

First Horizon Corp. (NYSE: FHN), with $82.6 billion in assets as of September 30, 2024, 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 across 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 - Natalie.Flanders@firsthorizon.com

Media Relations - Beth.Ardoin@firsthorizon.com


CONSOLIDATED INCOME STATEMENT
Quarterly, Unaudited

																3Q24 Change vs.
($s in millions, except per share data)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24				3Q23
																$		%		$		%
Interest income - taxable equivalent1	$	1,123		$	1,097		$	1,076		$	1,090		$	1,084		$	26	2	%	$	39	4	%
Interest expense- taxable equivalent1	491			464			448			469			475			28		6		17		4
Net interest income- taxable equivalent	631			633			628			621			609			(2)		—		22		4
Less: Taxable-equivalent adjustment	4			4			4			4			4			—		(10)		—		(2)
Net interest income	627			629			625			617			605			(1)		—		23		4
Noninterest income:
Fixed income	47			40			52			37			28			7		16		19		68
Mortgage banking	9			10			9			5			7			(1)		(12)		2		29
Brokerage, trust, and insurance	39			38			36			36			34			1		4		6		18
Service charges and fees	59			58			57			59			60			—		—		(1)		(2)
Card and digital banking fees	19			20			19			16			20			(1)		(3)		(1)		(5)
Deferred compensation income	6			3			9			6			—			3		107		6		NM

Other noninterest income	21			17			14			23			25			5		29		(3)		(13)
Total noninterest income	200			186			194			183			173			14		8		27		15
Total revenue	828			815			819			800			778			13		2		49		6
Noninterest expense:
Personnel expense:
Salaries and benefits	199			198			200			190			188			2		1		11		6
Incentives and commissions	76			79			92			82			77			(3)		(3)		(1)		(2)
Deferred compensation expense	6			3			9			7			—			3		114		7		NM
Total personnel expense	282			279			301			279			266			2		1		16		6
Occupancy and equipment2	73			72			72			71			67			2		3		6		9
Outside services	74			78			65			84			69			(4)		(5)		5		7
Amortization of intangible assets	11			11			11			12			12			—		—		(1)		(8)
Other noninterest expense	71			60			67			127			60			11		19		11		19
Total noninterest expense	511			500			515			572			474			11		2		37		8
Pre-provision net revenue3	316			315			304			227			304			2		1		12		4
Provision for credit losses	35			55			50			50			110			(20)		(36)		(75)		(68)
Income before income taxes	281			260			254			177			194			22		8		87		45
Provision for income taxes	58			56			57			(11)			52			2		4		6		12
Net income	223			204			197			188			142			20		10		81		57
Net income attributable to noncontrolling interest	5			5			5			5			5			—		—		—		—
Net income attributable to controlling interest	218			199			192			183			137			20		10		81		59
Preferred stock dividends	5			15			8			8			8			(10)		(66)		(3)		(37)
Net income available to common shareholders	$	213		$	184		$	184		$	175		$	129		$	30	16	%	$	84	65	%
Common Share Data
EPS	$	0.40		$	0.34		$	0.33		$	0.31		$	0.23		$	0.06	18	%	$	0.17	73	%
Basic shares	534			544			555			559			559			(10)		(2)		(24)		(4)
Diluted EPS	$	0.40		$	0.34		$	0.33		$	0.31		$	0.23		$	0.06	18		$	0.17	72
Diluted shares8	538			547			558			561			561			(9)		(2)	%	(23)		(4)	%

Effective tax rate	20.6		%	21.5		%	22.5		%	(6.2)		%	26.7		%

Numbers may not foot due to rounding. See footnote disclosures on page 19.


ADJUSTED4 FINANCIAL DATA - SEE NOTABLE ITEMS ON PAGE 8
Quarterly, Unaudited


																3Q24 Change vs.
($s in millions, except per share data)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24				3Q23
																$		%		$		%


Net interest income (FTE)1	$	631		$	633		$	628		$	621		$	609		$	(2)	—	%	$	22	4	%
Adjusted noninterest income:
Fixed income	47			40			52			37			28			7		16		19		68
Mortgage banking	9			10			9			5			7			(1)		(12)		2		29
Brokerage, trust, and insurance	39			38			36			36			34			1		4		6		18
Service charges and fees	59			58			57			59			60			—		—		(1)		(2)
Card and digital banking fees	19			20			19			16			20			(1)		(3)		(1)		(5)
Deferred compensation income	6			3			9			6			—			3		107		6		NM

Adjusted other noninterest income	21			17			14			20			25			5		29		(3)		(13)
Adjusted total noninterest income	$	200		$	186		$	194		$	179		$	173		$	14	8	%	$	27	15	%
Total revenue (FTE)1	$	832		$	819		$	823		$	800		$	782		$	12	2	%	$	49	6	%

Adjusted noninterest expense:
Adjusted personnel expense:
Adjusted salaries and benefits	$	199		$	198		$	199		$	190		$	188		$	2	1	%	$	11	6	%
Adjusted Incentives and commissions	76			78			87			80			68			(2)		(3)		7		11
Deferred compensation expense	6			3			9			7			—			3		114		7		NM
Adjusted total personnel expense	281			279			295			277			256			2		1		26		10
Adjusted occupancy and equipment2	73			72			72			71			67			2		3		6		8
Adjusted outside services	73			75			65			84			69			(2)		(3)		3		5
Amortization of intangible assets	11			11			11			12			12			—		—		(1)		(8)
Adjusted other noninterest expense	59			58			57			59			60			—		1		(2)		(3)
Adjusted total noninterest expense	$	497		$	495		$	500		$	502		$	465		$	2	—	%	$	32	7	%

Adjusted pre-provision net revenue4	$	335		$	324		$	323		$	298		$	318		$	11	3	%	$	17	5	%

Provision for credit losses	$	35		$	55		$	50		$	50		$	110		$	(20)	(36)	%	$	(75)	(68)	%







Adjusted net income available to common shareholders	$	224		$	195		$	195		$	178		$	150		$	29	15	%	$	74	49	%

Adjusted Common Share Data


Adjusted diluted EPS	$	0.42		$	0.36		$	0.35		$	0.32		$	0.27		$	0.06	17	%	$	0.15	56	%
Diluted shares8	538			547			558			561			561			(9)		(2)	%	(23)		(4)	%

Adjusted effective tax rate	20.8		%	21.5		%	22.5		%	21.7		%	20.1		%
Adjusted ROTCE	13.2		%	12.0		%	11.6		%	11.1		%	9.2		%
Adjusted efficiency ratio	59.9		%	60.5		%	60.8		%	62.8		%	59.4		%

Numbers may not foot due to rounding.

See footnote disclosures on page 19.


NOTABLE ITEMS
Quarterly, Unaudited



(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23
Summary of Notable Items:




Gain/(loss) related to equity securities investments (other noninterest income)	$	—	$	—	$	—	$	(6)	$	—
Net gain on asset disposition (other noninterest income less incentives)	—		—		—		7		—
FDIC special assessment (other noninterest expense)	2		(2)		(10)		(68)		—
Other notable expenses *	(17)		(3)		(5)		—		(10)
Total notable items (pre-tax)	$	(14)	$	(5)	$	(15)	$	(67)	$	(10)
Tax-related notable items **	$	—	$	—	$	—	$	48	$	(13)
Preferred Stock Dividend ***	$	—	$	(7)	$	—	$	—	$	—

Numbers may not foot due to rounding

* 3Q24, 2Q24, 1Q24 and 3Q23 include $2 million, $3 million, $5 million and $10 million of restructuring expenses; 3Q24 includes $15 million of Visa derivative valuation expenses.

** 4Q23 includes a $48 million after-tax benefit primarily from the resolution of IberiaBank merger-related tax items; 3Q23 includes after-tax notable items of $24 million related to the surrender of approximately $214 million in book value of bank owned life insurance policies, partially offset by an $11 million benefit from merger-related tax items.

*** 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



(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23
Impacts of Notable Items:



Noninterest income:







Other noninterest income	$	—	$	—	$	—	$	(4)	$	—
Total noninterest income	$	—	$	—	$	—	$	(4)	$	—


Noninterest expense:
Personnel expenses:
Salaries and benefits	$	—	$	—	$	—	$	—	$	—
Incentives and commissions	—		(1)		(5)		(2)		(9)

Total personnel expenses	(1)		(1)		(5)		(2)		(10)

Outside services	(1)		(3)		—		—		—

Other noninterest expense	(13)		(2)		(10)		(68)		—
Total noninterest expense	$	(14)	$	(5)	$	(15)	$	(70)	$	(10)







Income before income taxes	$	14	$	5	$	15	$	67	$	10
Provision for income taxes *	4		1		3		64		(11)

Preferred stock dividends **	—		(7)		—		—		—
Net income/(loss) available to common shareholders	$	11	$	11	$	12	$	3	$	20
EPS impact of notable items	$	0.02	$	0.02	$	0.02	$	0.01	$	0.04

Numbers may not foot due to rounding.

* 4Q23 includes a $48 million after-tax benefit primarily from the resolution of IberiaBank merger-related tax items; 3Q23 includes after-tax notable items of $24 million related to the surrender of approximately $214 million in book value of bank owned life insurance policies, partially offset by an $11 million benefit from merger-related tax items.

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


FINANCIAL RATIOS
Quarterly, Unaudited
																3Q24 Change vs.
	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24					3Q23
FINANCIAL RATIOS																$/bp			%		$/bp			%
Net interest margin6	3.31		%	3.38		%	3.37		%	3.27		%	3.17		%	(7)		bp			14		bp

Return on average assets	1.08		%	1.00		%	0.97		%	0.91		%	0.68		%	8					40
Adjusted return on average assets4	1.13		%	1.02		%	1.03		%	0.92		%	0.78		%	11					35
Return on average common equity (“ROCE”)	10.10		%	8.98		%	8.76		%	8.60		%	6.28		%	112					382

Return on average tangible common equity (“ROTCE”)4	12.60		%	11.29		%	10.95		%	10.89		%	7.95		%	131					465
Adjusted ROTCE4	13.24		%	11.99		%	11.65		%	11.05		%	9.21		%	125					403
Noninterest income as a % of total revenue	24.06		%	22.75		%	23.72		%	23.33		%	22.23		%	131					183
Adjusted noninterest income as a % of total revenue4	23.95		%	22.64		%	23.61		%	22.32		%	22.11		%	131					184
Efficiency ratio	61.89		%	61.44		%	62.92		%	71.14		%	60.96		%	45					93
Adjusted efficiency ratio4	59.86		%	60.47		%	60.78		%	62.84		%	59.43		%	(61)					43
Allowance for credit losses to loans and leases4	1.44		%	1.41		%	1.40		%	1.40		%	1.36		%	(9)					(4)

CAPITAL DATA
CET1 capital ratio*	11.2		%	11.0		%	11.3		%	11.4		%	11.1		%	18		bp			11		bp
Tier 1 capital ratio*	12.2		%	12.1		%	12.3		%	12.4		%	12.1		%	19		bp			12		bp
Total capital ratio*	13.9		%	13.7		%	13.9		%	14.0		%	13.6		%	21		bp			26		bp
Tier 1 leverage ratio*	10.6		%	10.6		%	10.8		%	10.7		%	10.5		%	3		bp			17		bp
Risk-weighted assets (“RWA”) (billions)*	$	71.4		$	71.9		$	71.1		$	71.1		$	71.9		$	(0.5)		(1)	%	$	(0.4)		(1)	%
Total equity to total assets	11.27		%	10.89		%	11.21		%	11.38		%	10.65		%	38		bp			62		bp
Tangible common equity/tangible assets (“TCE/TA”)4	8.56		%	8.14		%	8.33		%	8.48		%	7.76		%	42		bp			80		bp
Period-end shares outstanding (millions)8	532			537			549			559			559			(5)			(1)	%	(27)			(5)	%
Cash dividends declared per common share	$	0.15		$	0.15		$	0.15		$	0.15		$	0.15		$	—		—	%	$	—		—	%
Book value per common share	$	16.15		$	15.34		$	15.23		$	15.17		$	14.28		$	0.81		5	%	$	1.87		13	%
Tangible book value per common share4	$	13.02		$	12.22		$	12.16		$	12.13		$	11.22		$	0.81		7	%	$	1.80		16	%


SELECTED BALANCE SHEET DATA
Loans-to-deposit ratio (period-end balances)	93.80		%	96.89		%	93.93		%	93.18		%	92.18		%	(309)		bp			162		bp
Loans-to-deposit ratio (average balances)	94.19		%	95.49		%	93.54		%	91.53		%	92.35		%	(130)		bp			184		bp
Full-time equivalent associates	7,186			7,297			7,327			7,277			7,340			(111)			(2)	%	(154)			(2)	%

*Current quarter is an estimate.

See footnote disclosures on page 19.

CONSOLIDATED PERIOD-END BALANCE SHEET

Quarterly, Unaudited


											3Q24 Change vs.
(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24				3Q23
Assets:											$		%		$		%

Loans and leases:
Commercial, financial, and industrial (C&I)	$	33,092	$	33,452	$	32,911	$	32,632	$	33,163	$	(361)	(1)	%	$	(71)	—	%
Commercial real estate	14,705		14,669		14,426		14,216		14,121		37		—		585		4
Total Commercial	47,797		48,121		47,337		46,849		47,283		(324)		(1)		514		1
Consumer real estate	13,961		13,909		13,645		13,650		13,685		51		—		276		2
Credit card and other5	688		751		771		793		809		(63)		(8)		(122)		(15)
Total Consumer	14,648		14,660		14,416		14,443		14,494		(12)		—		154		1
Loans and leases, net of unearned income	62,445		62,781		61,753		61,292		61,778		(335)		(1)		668		1
Loans held for sale	494		471		395		502		613		23		5		(119)		(19)
Investment securities	9,530		9,221		9,460		9,714		9,435		308		3		95		1
Trading securities	1,549		1,249		1,161		1,412		1,231		300		24		319		26
Interest-bearing deposits with banks	1,286		1,452		1,885		1,328		1,917		(167)		(11)		(631)		(33)
Federal funds sold and securities purchased under agreements to resell	1,008		487		817		719		416		520		107		592		142
Total interest earning assets	76,311		75,662		75,470		74,967		75,389		650		1		923		1
Cash and due from banks	1,028		969		749		1,012		1,022		59		6		6		1
Goodwill and other intangible assets, net	1,663		1,674		1,685		1,696		1,709		(11)		(1)		(45)		(3)
Premises and equipment, net	572		584		586		590		590		(12)		(2)		(19)		(3)
Allowance for loan and lease losses	(823)		(821)		(787)		(773)		(760)		(2)		—		(63)		(8)
Other assets	3,883		4,162		4,094		4,169		4,584		(279)		(7)		(700)		(15)
Total assets	$	82,635	$	82,230	$	81,799	$	81,661	$	82,533	$	405	—	%	$	101	—	%

Liabilities and Shareholders' Equity:
Deposits:
Savings	$	26,634	$	25,437	$	25,847	$	25,082	$	25,590	$	1,196	5	%	$	1,044	4	%
Time deposits	8,326		7,163		6,297		6,804		7,783		1,163		16		543		7
Other interest-bearing deposits	15,403		15,845		17,186		16,689		15,817		(442)		(3)		(414)		(3)
Total interest-bearing deposits	50,363		48,446		49,331		48,576		49,190		1,917		4		1,173		2
Trading liabilities	767		423		467		509		366		345		82		401		110
Federal funds purchased and securities sold under agreements to repurchase	1,910		2,572		2,137		2,223		2,015		(661)		(26)		(105)		(5)
Short-term borrowings	675		1,943		566		326		492		(1,269)		(65)		183		37
Term borrowings	1,202		1,175		1,165		1,150		1,157		27		2		45		4
Total interest-bearing liabilities	54,918		54,559		53,665		52,783		53,220		359		1		1,697		3
Noninterest-bearing deposits	16,212		16,348		16,410		17,204		17,825		(136)		(1)		(1,614)		(9)
Other liabilities	2,189		2,368		2,550		2,383		2,694		(179)		(8)		(505)		(19)
Total liabilities	73,318		73,275		72,626		72,370		73,740		44		—		(421)		(1)
Shareholders' Equity:
Preferred stock	426		426		520		520		520		—		—		(94)		(18)
Common stock	333		336		343		349		349		(3)		(1)		(17)		(5)
Capital surplus	4,947		5,007		5,214		5,351		5,337		(60)		(1)		(391)		(7)
Retained earnings	4,304		4,172		4,072		3,964		3,874		132		3		430		11
Accumulated other comprehensive loss, net	(989)		(1,281)		(1,271)		(1,188)		(1,582)		292		23		593		37
Combined shareholders' equity	9,021		8,660		8,878		8,996		8,498		361		4		523		6
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,316		8,955		9,173		9,291		8,794		361		4		523		6
Total liabilities and shareholders' equity	$	82,635	$	82,230	$	81,799	$	81,661	$	82,533	$	405	—	%	$	101	—	%
Memo:
Total deposits	$	66,575	$	64,794	$	65,741	$	65,780	$	67,015	$	1,781	3	%	$	(440)	(1)	%
Loans to mortgage companies	$	3,244	$	2,934	$	2,366	$	2,024	$	2,237	$	310	11	%	$	1,007	45	%
Unfunded Loan Commitments:
Commercial	$	18,180	$	18,781	$	19,996	$	21,328	$	22,063	$	(601)	(3)	%	$	(3,883)	(18)	%
Consumer	$	4,281	$	4,334	$	4,383	$	4,401	$	4,432	$	(53)	(1)	%	$	(150)	(3)	%

Numbers may not foot due to rounding. See footnote disclosures on page 19.

CONSOLIDATED AVERAGE BALANCE SHEET

Quarterly, Unaudited


											3Q24 Change vs.
(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24				3Q23
Assets:											$		%		$		%
Loans and leases:
Commercial, financial, and industrial (C&I)	$	33,074	$	32,909	$	32,389	$	32,520	$	33,042	$	165	1	%	$	32	—	%
Commercial real estate	14,684		14,576		14,367		14,210		13,999		108		1		685		5
Total Commercial	47,758		47,485		46,756		46,730		47,041		273		1		717		2
Consumer real estate	13,935		13,783		13,615		13,664		13,575		152		1		360		3
Credit card and other5	720		761		781		802		816		(42)		(5)		(97)		(12)
Total Consumer	14,654		14,544		14,396		14,466		14,391		110		1		263		2
Loans and leases, net of unearned income	62,413		62,029		61,152		61,197		61,432		384		1		981		2
Loans held-for-sale	491		462		454		547		782		29		6		(291)		(37)
Investment securities	9,400		9,261		9,590		9,394		9,811		140		2		(410)		(4)
Trading securities	1,469		1,367		1,245		1,225		1,099		102		7		370		34
Interest-bearing deposits with banks	1,741		1,449		1,793		2,556		2,867		293		20		(1,126)		(39)
Federal funds sold and securities purchased under agreements to resell	607		676		544		529		315		(70)		(10)		291		92
Total interest earning assets	76,121		75,243		74,778		75,448		76,306		878		1		(184)		—
Cash and due from banks	905		904		948		994		997		1		—		(92)		(9)
Goodwill and other intangibles assets, net	1,669		1,680		1,691		1,702		1,714		(11)		(1)		(46)		(3)
Premises and equipment, net	578		585		587		589		592		(7)		(1)		(15)		(3)
Allowances for loan and lease losses	(827)		(810)		(789)		(772)		(766)		(17)		(2)		(61)		(8)
Other assets	3,921		4,120		4,028		4,352		4,377		(198)		(5)		(456)		(10)
Total assets	$	82,366	$	81,721	$	81,243	$	82,313	$	83,220	$	646	1	%	$	(854)	(1)	%

Liabilities and shareholders' equity:
Deposits:
Savings	$	26,062	$	25,462	$	25,390	$	25,799	$	24,963	$	600	2	%	$	1,099	4	%
Time deposits	8,167		6,683		6,628		7,372		8,087		1,484		22		80		1
Other interest-bearing deposits	15,923		16,484		16,735		16,344		15,329		(561)		(3)		594		4
Total interest-bearing deposits	50,153		48,629		48,753		49,515		48,379		1,524		3		1,774		4
Trading liabilities	576		605		462		386		276		(30)		(5)		300		109
Federal funds purchased and securities sold under agreements to repurchase	2,132		2,208		2,014		1,982		1,970		(77)		(3)		162		8
Short-term borrowings	884		1,267		537		437		1,790		(383)		(30)		(906)		(51)
Term borrowings	1,188		1,170		1,156		1,156		1,161		18		2		27		2
Total interest-bearing liabilities	54,931		53,879		52,921		53,475		53,575		1,053		2		1,356		3
Noninterest-bearing deposits	16,111		16,332		16,626		17,347		18,145		(221)		(1)		(2,034)		(11)
Other liabilities	2,196		2,561		2,445		2,585		2,522		(365)		(14)		(326)		(13)
Total liabilities	73,238		72,772		71,992		73,407		74,242		467		1		(1,004)		(1)
Shareholders' Equity:
Preferred stock	426		426		520		520		520		—		—		(94)		(18)
Common stock	334		340		347		349		349		(6)		(2)		(15)		(4)
Capital surplus	4,973		5,127		5,301		5,343		5,330		(155)		(3)		(358)		(7)
Retained earnings	4,254		4,122		4,028		3,935		3,861		132		3		392		10
Accumulated other comprehensive loss, net	(1,154)		(1,361)		(1,240)		(1,538)		(1,378)		208		15		225		16
Combined shareholders' equity	8,833		8,654		8,956		8,610		8,683		179		2		150		2
Noncontrolling interest	295		295		295		295		295		—		—		—		—
Total shareholders' equity	9,128		8,949		9,251		8,905		8,978		179		2		150		2
Total liabilities and shareholders' equity	$	82,366	$	81,721	$	81,243	$	82,313	$	83,220	$	646	1	%	$	(854)	(1)	%
Memo:
Total deposits	$	66,263	$	64,960	$	65,379	$	66,862	$	66,523	$	1,303	2	%	$	(260)	—	%
Loans to mortgage companies	$	2,875	$	2,440	$	1,847	$	1,948	$	2,353	$	435	18	%	$	522	22	%

Numbers may not foot due to rounding. See footnote disclosures on page 19.


CONSOLIDATED NET INTEREST INCOME AND AVERAGE BALANCE SHEET: YIELDS AND RATES
Quarterly, Unaudited
																					3Q24 Change vs.
	3Q24				2Q24				1Q24				4Q23				3Q23				2Q24					3Q23
(In millions, except rates)	Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense		Rate		Income/Expense					Income/Expense
																					$/bp			%		$/bp			%
Interest earning assets/Interest income:
Loans and leases, net of unearned income:


Commercial	$	813	6.78	%	$	800	6.78	%	$	782	6.73	%	$	783	6.65	%	$	779	6.58	%	$	13		2	%	$	34		4	%


Consumer	186		5.05		179		4.91		173		4.80		171		4.71		165		4.55		7			4		21			13
Loans and leases, net of unearned income	999		6.37		978		6.34		955		6.28		954		6.19		944		6.10		20			2		55			6
Loans held-for-sale	10		7.77		9		7.50		9		7.80		11		8.34		15		7.88		1			10		(6)			(38)
Investment securities	61		2.58		60		2.58		61		2.54		61		2.62		62		2.54		1			2		(1)			(2)
Trading securities	22		6.05		22		6.30		20		6.48		20		6.63		19		7.03		1			3		3			15
Interest-bearing deposits with banks	24		5.40		20		5.46		24		5.46		35		5.46		39		5.34		4			20		(15)			(39)
Federal funds sold and securities purchased under agreements	8		5.23		9		5.31		7		5.16		7		5.32		4		5.06		(1)			(11)		4			98
Interest income	$	1,123	5.88	%	$	1,097	5.86	%	$	1,076	5.78	%	$	1,089	5.74	%	$	1,084	5.64	%	$	26		2	%	$	39		4	%

Interest bearing liabilities/Interest expense:
Interest-bearing deposits:
Savings	$	225	3.43	%	$	208	3.29	%	$	206	3.27	%	$	222	3.42	%	$	219	3.48	%	$	17		8	%	$	6		3	%
Time deposits	95		4.63		74		4.45		73		4.42		82		4.42		89		4.35		21			29		6			7
Other interest-bearing deposits	114		2.85		117		2.86		119		2.86		116		2.81		102		2.64		(3)			(3)		12			12
Total interest-bearing deposits	434		3.44		399		3.30		398		3.28		420		3.37		409		3.36		35			9		25			6
Trading liabilities	6		4.13		7		4.46		5		4.31		4		4.59		3		4.20		(1)			(11)		3			105
Federal funds purchased and securities sold under agreements to repurchase	23		4.20		24		4.36		21		4.24		22		4.35		21		4.24		(1)			(6)		1			7
Short-term borrowings	12		5.52		17		5.48		7		5.43		6		5.41		24		5.42		(5)			(29)		(12)			(50)
Term borrowings	17		5.64		17		5.64		17		5.71		17		5.75		17		5.82		—			1		—			(1)
Interest expense	491		3.56		464		3.46		448		3.40		469		3.48		475		3.52		28			6		17			4
Net interest income - tax equivalent basis	631		2.32		633		2.40		628		2.38		621		2.26		609		2.12		(2)			—		22			4
Fully taxable equivalent adjustment	(4)		0.99		(4)		0.98		(4)		0.99		(4)		1.01		(4)		1.05		—			10		—			2
Net interest income	$	627	3.31	%	$	629	3.38	%	$	625	3.37	%	$	617	3.27	%	$	605	3.17	%	$	(1)		—	%	$	23		4	%

Memo:
Total loan yield			6.37	%			6.34	%			6.28	%			6.19	%			6.10	%	3		bp			27		bp
Total deposit cost			2.61	%			2.47	%			2.45	%			2.49	%			2.44	%	14		bp			17		bp
Total funding cost			2.75	%			2.66	%			2.59	%			2.63	%			2.63	%	9		bp			12		bp
Average loans and leases, net of unearned income	$	62,413			$	62,029			$	61,152			$	61,197			$	61,432			$	384		1	%	$	981		2	%
Average deposits	66,263				64,960				65,379				66,862				66,523				1,303			2	%	(260)			—	%
Average funded liabilities	71,042				70,210				69,547				70,822				71,720				$	831		1	%	$	(678)		(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 foot due to rounding.

See footnote disclosures on page 19.


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

	As of															3Q24 change vs.
(In millions, except ratio data)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24				3Q23
																$		%		$		%
Nonperforming loans and leases
Commercial, financial, and industrial (C&I)	$	190		$	167		$	206		$	184		$	123		$	22	13	%	$	67	54	%
Commercial real estate	259			261			157			136			125			(2)		(1)		134		NM
Consumer real estate	128			143			140			139			145			(15)		(11)		(17)		(12)
Credit card and other5	1			2			2			2			2			—		(26)		(1)		(33)
Total nonperforming loans and leases	$	578		$	574		$	505		$	462		$	394		$	4	1	%	$	183	47	%

Asset Quality Ratio
Nonperforming loans and leases to loans and leases
Commercial, financial, and industrial (C&I)	0.57		%	0.50		%	0.63		%	0.57		%	0.37		%
Commercial real estate	1.76			1.78			1.09			0.96			0.88
Consumer real estate	0.92			1.03			1.02			1.02			1.06
Credit card and other5	0.20			0.25			0.20			0.30			0.26
Total nonperforming loans and leases to loans and leases	0.92		%	0.91		%	0.82		%	0.75		%	0.64		%

Numbers may not foot due to rounding.

See footnote disclosures on page 19.


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

	As of										3Q24 change vs.
(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24				3Q23
											$		%		$		%
Loans and leases 90 days or more past due and accruing
Commercial, financial, and industrial (C&I)	$	1	$	—	$	—	$	1	$	3	$	1	13	%	$	(2)	(81)	%
Commercial real estate	—		—		—		—		—		—		NM		—		NM
Consumer real estate	13		3		6		17		12		10		NM		2		14
Credit card and other5	3		2		3		3		3		1		25		—		13
Total loans and leases 90 days or more past due and accruing	$	17	$	6	$	10	$	21	$	17	$	11	NM		$	—	NM

Numbers may not foot due to rounding.

See footnote disclosures on page 19.


CONSOLIDATED NET CHARGE-OFFS (RECOVERIES)
Quarterly, Unaudited

	As of															3Q24 change vs.
(In millions, except ratio data)	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24				3Q23
Charge-off, Recoveries and Related Ratios																$		%		$		%
Gross Charge-offs
Commercial, financial, and industrial (C&I) *	$	12		$	24		$	28		$	31		$	92		$	(12)	(48)	%	$	(79)	(86)	%
Commercial real estate	15			19			12			2			5			(4)		(20)		10		NM
Consumer real estate	1			1			—			1			1			—		(40)		—		(2)
Credit card and other5	5			5			6			6			7			—		4		(2)		(30)
Total gross charge-offs	$	33		$	49		$	46		$	41		$	104		$	(16)	(32)	%	$	(71)	(68)	%
Gross Recoveries
Commercial, financial, and industrial (C&I)	$	(4)		$	(11)		$	(3)		$	(2)		$	(5)		$	7	61	%	$	1	12	%
Commercial real estate	(1)			—			—			—			—			(1)		NM		—		(87)
Consumer real estate	(3)			(2)			(1)			(2)			(2)			—		(3)		—		(15)
Credit card and other5	(1)			(1)			(2)			(1)			(1)			—		(7)		—		(14)
Total gross recoveries	$	(9)		$	(15)		$	(6)		$	(5)		$	(9)		$	6	40	%	$	—	(3)	%
Net Charge-offs (Recoveries)
Commercial, financial, and industrial (C&I) *	$	8		$	13		$	25		$	29		$	86		$	(5)	(37)	%	$	(78)	(91)	%
Commercial real estate	14			19			12			2			4			(5)		(24)		10		NM
Consumer real estate	(2)			(1)			(1)			—			(2)			—		(33)		—		(22)
Credit card and other5	3			3			4			5			6			—		2		(2)		(39)
Total net charge-offs	$	24		$	34		$	40		$	36		$	95		$	(10)	(29)	%	$	(71)	(75)	%

Annualized Net Charge-off (Recovery) Rates
Commercial, financial, and industrial (C&I) *	0.10		%	0.16		%	0.31		%	0.36		%	1.04		%
Commercial real estate	0.39			0.53			0.35			0.06			0.12
Consumer real estate	(0.05)			(0.04)			(0.03)			—			(0.05)
Credit card and other5	1.92			1.79			1.98			2.36			2.77
Total loans and leases	0.15		%	0.22		%	0.27		%	0.23		%	0.61		%

Numbers may not foot due to rounding.

•3Q23 increase driven by a single credit from a company in bankruptcy.

See footnote disclosures on page 19.


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

	As of										3Q24 Change vs.
(In millions)	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24				3Q23
Summary of Changes in the Components of the Allowance For Credit Losses											$		%		$		%
Allowance for loan and lease losses - beginning	$	821	$	787	$	773	$	760	$	737	$	34	4	%	$	84	11	%













Charge-offs:
Commercial, financial, and industrial (C&I) *	(12)		(24)		(28)		(31)		(92)		12		48		79		86
Commercial real estate	(15)		(19)		(12)		(2)		(5)		4		20		(10)		NM
Consumer real estate	(1)		(1)		—		(1)		(1)		—		40		—		2
Credit card and other5	(5)		(5)		(6)		(6)		(7)		—		(4)		2		30
Total charge-offs	(33)		(49)		(46)		(41)		(104)		16		32		71		68
Recoveries:
Commercial, financial, and industrial (C&I)	4		11		3		2		5		(7)		(61)		(1)		(12)
Commercial real estate	1		—		—		—		—		1		NM		—		87
Consumer real estate	3		2		1		2		2		—		3		—		15
Credit card and other5	1		1		2		1		1		—		7		—		14
Total Recoveries	9		15		6		5		9		(6)		(40)		—		3
Provision for loan and lease losses:
Commercial, financial, and industrial (C&I) *	15		9		34		33		96		6		65		(81)		(84)
Commercial real estate	11		59		21		6		14		(48)		(81)		(3)		(19)
Consumer real estate	(3)		(1)		(3)		5		5		(2)		NM		(8)		NM
Credit card and other5	2		—		3		5		3		2		NM		(1)		(25)
Total provision for loan and lease losses:	26		68		54		49		118		(42)		(62)		(92)		(78)
Allowance for loan and lease losses - ending	$	823	$	821	$	787	$	773	$	760	$	2	—	%	$	63	8	%

Reserve for unfunded commitments - beginning	$	66	$	79	$	83	$	82	$	90	$	(13)	(17)	%	$	(24)	(27)	%
Cumulative effect of change in accounting principle	—		—		—		—		—		—		NM		—		NM
Acquired reserve for unfunded commitments	—		—		—		—		—		—		NM		—		NM
Provision for unfunded commitments	9		(13)		(4)		1		(8)		22		NM		17		NM
Reserve for unfunded commitments - ending	$	75	$	66	$	79	$	83	$	82	$	9	14	%	$	(7)	(9)	%
Total allowance for credit losses- ending	$	897	$	887	$	865	$	856	$	842	$	11	—	%	$	56	7	%

Numbers may not foot due to rounding.

•3Q23 increase driven by a single credit from a company in bankruptcy.

See footnote disclosures on page 19.


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

	As of
	3Q24		2Q24		1Q24		4Q23		3Q23

Allowance for loans and lease losses to loans and leases
Commercial, financial, and industrial (C&I)	1.06	%	1.03	%	1.06	%	1.04	%	1.01	%
Commercial real estate	1.48	%	1.51	%	1.26	%	1.21	%	1.19	%
Consumer real estate	1.65	%	1.66	%	1.69	%	1.71	%	1.67	%
Credit card and other5	3.39	%	3.26	%	3.57	%	3.63	%	3.48	%
Total allowance for loans and lease losses to loans and leases	1.32	%	1.31	%	1.27	%	1.26	%	1.23	%
Allowance for loans and lease losses to nonperforming loans and leases
Commercial, financial, and industrial (C&I)	185	%	205	%	168	%	184	%	273	%
Commercial real estate	84	%	85	%	115	%	126	%	135	%
Consumer real estate	180	%	161	%	165	%	168	%	158	%
Credit card and other5	1,672	%	1,295	%	1,766	%	1,202	%	1,364	%
Total allowance for loans and lease losses to nonperforming loans and leases	142	%	143	%	156	%	167	%	193	%

Allowance for credit losses ratios
Total allowance for credit losses to loans and leases4	1.44	%	1.41	%	1.40	%	1.40	%	1.36	%
Total allowance for credit losses to nonperforming loans and leases4	155	%	155	%	171	%	185	%	214	%

See footnote disclosures on page 19.

REGIONAL BANKING

Quarterly, Unaudited


																3Q24 Change vs.
	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24					3Q23
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	517		$	522		$	532		$	549		$	558		$	(5)		(1)	%	$	(41)		(7)	%
Noninterest income	113			109			105			106			106			4			4		7			7
Total revenue	630			631			637			655			664			(1)			—		(34)			(5)
Noninterest expense	329			333			324			334			311			(5)			(1)		18			6
Pre-provision net revenue3	302			298			314			321			353			4			1		(52)			(15)
Provision for credit losses	33			57			28			28			112			(24)			(42)		(79)			(70)
Income before income tax expense	269			241			286			293			241			28			12		27			11
Income tax expense	63			55			67			69			56			7			13		7			12
Net income	$	206		$	185		$	219		$	224		$	185		$	21		11	%	$	21		11	%

Average Balances (billions)
Total loans and leases	$	41.0		$	41.0		$	40.6		$	40.6		$	40.6		$	—		—	%	$	0.4		1	%
Interest-earning assets	41.0			41.0			40.6			40.6			40.6			—			—		0.4			1
Total assets	43.4			43.5			43.1			43.2			43.2			(0.1)			—		0.2			—
Total deposits	57.6			57.5			57.8			58.6			58.0			0.1			—		(0.4)			(1)

Key Metrics
Net interest margin6	5.04		%	5.15		%	5.30		%	5.39		%	5.48		%	(11)		bp			(44)		bp
Efficiency ratio	52.12		%	52.80		%	50.79		%	50.98		%	46.78		%	(68)		bp			534		bp
Loans-to-deposits ratio (period-end balances)	71.21		%	72.05		%	69.82		%	68.76		%	69.68		%	(84)		bp			153		bp
Loans-to-deposits ratio (average-end balances)	71.22		%	71.32		%	70.18		%	69.34		%	70.03		%	(10)		bp			119		bp
Return on average assets (annualized)	1.89		%	1.71		%	2.04		%	2.06		%	1.70		%	18		bp			19		bp
Return on allocated equity7	23.71		%	21.47		%	25.40		%	25.89		%	21.34		%	224		bp			237		bp
Financial center locations	416			418			418			418			418			(2)					(2)

Numbers may not foot to total due to rounding.

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

See footnote disclosures on page 19.

Regional Banking segment: Offers financial products and services, including traditional lending and deposit taking, to consumer and commercial customers primarily in the southern and southeastern U.S. and other selected markets. Regional Banking also provides investment, wealth management, financial planning, trust and asset management services for consumer customers.

SPECIALTY BANKING

Quarterly, Unaudited


																3Q24 Change vs.
	3Q24			2Q24			1Q24			4Q23			3Q23			2Q24					3Q23
																$/bp			%		$/bp			%
Income Statement (millions)
Net interest income	$	166		$	158		$	153		$	153		$	160		$	8		5	%	$	5		3	%
Noninterest income	67			64			72			64			49			3			5		19			38
Total revenue	233			222			224			217			209			11			5		24			11
Noninterest expense	104			103			104			101			96			2			2		9			9
Pre-provision net revenue3	129			119			120			116			113			9			8		15			13
Provision for credit losses	3			1			23			31			2			2			NM		—			8
Income before income tax expense	126			119			97			85			111			7			6		15			14
Income tax expense	31			29			24			21			27			2			6		4			14
Net income	$	95		$	90		$	74		$	64		$	84		$	6		6	%	$	11		14	%

Average Balances (billions)
Total loans and leases	$	21.1		$	20.7		$	20.2		$	20.1		$	20.4		$	0.4		2	%	$	0.7		3	%
Interest-earning assets	23.7			23.3			22.4			22.4			22.7			0.4			2		1.0			5
Total assets	24.9			24.6			23.8			23.9			24.1			0.4			1		0.9			4
Total deposits	4.0			3.9			4.0			4.2			4.1			0.1			3		(0.1)			(2)

Key Metrics
Fixed income product average daily revenue (thousands)	$	593		$	488		$	731		$	463		$	301		$	105		22	%	$	292		97	%
Net interest margin6	2.79		%	2.73		%	2.74		%	2.71		%	2.81		%	6		bp			(2)		bp
Efficiency ratio	44.79		%	46.23		%	46.41		%	46.62		%	45.82		%	(144)		bp			(103)		bp
Loans-to-deposits ratio (period-end balances)	505		%	551		%	539		%	524		%	493		%	(4,560)		bp			1,192		bp
Loans-to-deposits ratio (average-end balances)	530		%	535		%	506		%	482		%	501		%	(499)		bp			2,838		bp
Return on average assets (annualized)	1.52		%	1.47		%	1.25		%	1.06		%	1.39		%	5		bp			13		bp
Return on allocated equity7	17.19		%	16.88		%	14.12		%	12.39		%	17.19		%	31		bp			—		bp

Numbers may not foot to total due to rounding.

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

See footnote disclosures on page 19.

Specialty Banking segment: Consists of lines of business that deliver product offerings and services with specialized industry knowledge. Specialty Banking’s lines of business include asset-based lending, mortgage warehouse lending, commercial real estate, franchise finance, correspondent banking, equipment finance, and mortgage. In addition to traditional lending and deposit taking, Specialty Banking also delivers treasury management solutions, loan syndications, and international banking. Additionally, Specialty Banking 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


											3Q24 Change vs.
	3Q24		2Q24		1Q24		4Q23		3Q23		2Q24				3Q23
											$		%		$		%
Income Statement (millions)
Net interest income/(expense)	$	(55)	$	(51)	$	(60)	$	(85)	$	(113)	$	(4)	(8)	%	$	58	51	%
Noninterest income	19		13		18		13		18		7		54		1		5
Total revenues	(36)		(39)		(43)		(72)		(95)		3		7		59		62
Noninterest expense	78		64		87		137		68		14		22		11		16
Pre-provision net revenue3	(114)		(103)		(130)		(210)		(163)		(11)		(11)		49		30
Provision for credit losses	(1)		(3)		(1)		(9)		(5)		2		78		4		85
Income before income tax expense	(114)		(100)		(129)		(200)		(158)		(14)		(14)		45		28
Income tax expense (benefit)	(36)		(29)		(34)		(100)		(31)		(7)		(24)		(5)		(15)
Net income/(loss)	$	(78)	$	(71)	$	(96)	$	(100)	$	(127)	$	(7)	(10)	%	$	49	39	%

Average Balance Sheet (billions)
Interest bearing assets	$	11.4	$	11.0	$	11.8	$	12.4	$	13.0	$	0.4	4	%	$	(1.6)	(12)	%
Total assets	14.0		13.6		14.4		15.2		15.9		0.4		3		(1.9)		(12)

Numbers may not foot to 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, properties, technology, credit risk, and bank operations are allocated to the activities of Regional Banking, Specialty Banking, and Corporate. Additionally, the Corporate segment includes centralized management of capital and funding to support the business activities of the company including management of wholesale funding, liquidity, and capital management and allocation. Finally, the Corporate segment includes the revenue and expense associated with run-off businesses such as pre-2009 mortgage banking elements, run-off consumer and trust preferred loan portfolios, and other exited businesses.

FOOTNOTES

1 Taxable equivalent interest income and interest expense are non-GAAP measures and reconcile to net interest income (GAAP) in the table.

2 Occupancy and Equipment expense includes Computer Software Expense.

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

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

5 Credit card and other includes $184 million of commercial credit card balances at September 30, 2024.

6 Net interest margin is computed using total NII adjusted for FTE assuming a statutory federal income tax rate of 21 percent, and, where applicable state taxes.

7 Segment equity is allocated based on an internal allocation methodology.

8 Share count was impacted by the repurchase of 11 million shares during 1Q24, 14 million shares during 2Q24, and 5 million shares in 3Q24.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions, except per share data)	3Q24			2Q24			1Q24			4Q23			3Q23

Tangible Common Equity (Non-GAAP)
(A) Total equity (GAAP)	$	9,316		$	8,955		$	9,173		$	9,291		$	8,794
Less: Noncontrolling interest (a)	295			295			295			295			295
Less: Preferred stock (a)	426			426			520			520			520
(B) Total common equity	$	8,595		$	8,234		$	8,358		$	8,476		$	7,978
Less: Intangible assets (GAAP) (b)	1,663			1,674			1,685			1,696			1,709
(C) Tangible common equity (Non-GAAP)	$	6,931		$	6,560		$	6,673		$	6,779		$	6,270

Tangible Assets (Non-GAAP)
(D) Total assets (GAAP)	$	82,635		$	82,230		$	81,799		$	81,661		$	82,533
Less: Intangible assets (GAAP) (b)	1,663			1,674			1,685			1,696			1,709
(E) Tangible assets (Non-GAAP)	$	80,971		$	80,556		$	80,114		$	79,965		$	80,825












Period-end Shares Outstanding
(F) Period-end shares outstanding	532			537			549			559			559

Ratios


(A)/(D) Total equity to total assets (GAAP)	11.27		%	10.89		%	11.21		%	11.38		%	10.65		%
(C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (Non-GAAP)	8.56		%	8.14		%	8.33		%	8.48		%	7.76		%
(B)/(F) Book value per common share (GAAP)	$	16.15		$	15.34		$	15.23		$	15.17		$	14.28
(C)/(F) Tangible book value per common share (Non-GAAP)	$	13.02		$	12.22		$	12.16		$	12.13		$	11.22

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

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

Numbers may not foot due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions, except per share data)		3Q24			2Q24			1Q24			4Q23			3Q23

Adjusted Diluted EPS
Net income available to common shareholders ("NIAC") (GAAP)	a	$	213		$	184		$	184		$	175		$	129
Plus Total notable items (after-tax) (Non-GAAP) (a)		$	11		$	11		$	12		$	3		$	20
Adjusted net income available to common shareholders (Non-GAAP)	b	$	224		$	195		$	196		$	178		$	150

Diluted Shares (GAAP)8	c	538			547			558			561			561

Diluted EPS (GAAP)	a/c	$	0.40		$	0.34		$	0.33		$	0.31		$	0.23
Adjusted diluted EPS (Non-GAAP)	b/c	$	0.42		$	0.36		$	0.35		$	0.32		$	0.27

Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA")
Net Income ("NI") (GAAP)		$	223		$	204		$	197		$	188		$	142
Plus Relevant notable items (after-tax) (Non-GAAP) (a)		$	11		$	4		$	12		$	3		$	20
Adjusted NI (Non-GAAP)		$	234		$	208		$	209		$	191		$	163

NI (annualized) (GAAP)	d	$	889		$	820		$	791		$	746		$	565
Adjusted NI (annualized) (Non-GAAP)	e	$	932		$	836		$	838		$	757		$	646

Average assets (GAAP)	f	$	82,366		$	81,721		$	81,243		$	82,313		$	83,220

ROA (GAAP)	d/f	1.08		%	1.00		%	0.97		%	0.91		%	0.68		%
Adjusted ROA (Non-GAAP)	e/f	1.13		%	1.02		%	1.03		%	0.92		%	0.78		%

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	$	849		$	739		$	739		$	695		$	513
Adjusted Net income available to common shareholders (annualized) (Non-GAAP)	h	$	892		$	785		$	787		$	706		$	594

Average Common Equity (GAAP)	i	$	8,407		$	8,228		$	8,436		$	8,090		$	8,163
Intangible Assets (GAAP) (b)		1,669			1,680			1,691			1,702			1,714
Average Tangible Common Equity (Non-GAAP)	j	$	6,738		$	6,548		$	6,745		$	6,388		$	6,448



ROCE (GAAP)	g/i	10.10		%	8.98		%	8.76		%	8.60		%	6.28		%


ROTCE (Non-GAAP)	g/j	12.60		%	11.29		%	10.95		%	10.89		%	7.95		%
Adjusted ROTCE (Non-GAAP)	h/j	13.24		%	11.99		%	11.65		%	11.05		%	9.21		%

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

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

Numbers may not foot due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

(In millions)		3Q24			2Q24			1Q24			4Q23			3Q23

Adjusted Noninterest Income as a % of Total Revenue
Noninterest income (GAAP)	k	$	200		$	186		$	194		$	183		$	173
Plus notable items (pretax) (GAAP) (a)		—			—			—			(4)			—
Adjusted noninterest income (Non-GAAP)	l	$	200		$	186		$	194		$	179		$	173

Revenue (GAAP)	m	$	828		$	815		$	819		$	800		$	778
Taxable-equivalent adjustment		4			4			4			4			4
Revenue- Taxable-equivalent (Non-GAAP)		832			819			823			804			782
Plus notable items (pretax) (GAAP) (a)		—			—			—			(4)			—
Adjusted revenue (Non-GAAP)	n	$	832		$	819		$	823		$	800		$	782

Securities gains/(losses) (GAAP)	o	$	1		$	1		$	—		$	(5)		$	—

Noninterest income as a % of total revenue (GAAP)	(k-o)/ (m-o)	24.06		%	22.75		%	23.72		%	23.33		%	22.23		%
Adjusted noninterest income as a % of total revenue (Non-GAAP)	l/n	23.95		%	22.64		%	23.61		%	22.32		%	22.11		%

Adjusted Efficiency Ratio
Noninterest expense (GAAP)	p	$	511		$	500		$	515		$	572		$	474
Plus notable items (pretax) (GAAP) (a)		(14)			(5)			(15)			(70)			(10)
Adjusted noninterest expense (Non-GAAP)	q	$	497		$	495		$	500		$	502		$	465

Revenue (GAAP)	r	$	828		$	815		$	819		$	800		$	778
Taxable-equivalent adjustment		4			4			4			4			4
Revenue- Taxable-equivalent (Non-GAAP)		832			819			823			804			782
Plus notable items (pretax) (GAAP) (a)		—			—			—			(4)			—
Adjusted revenue (Non-GAAP)	s	$	832		$	819		$	823		$	800		$	782

Securities gains/(losses) (GAAP)	t	$	1		$	1		$	—		$	(5)		$	—

Efficiency ratio (GAAP)	p/ (r-t)	61.89		%	61.44		%	62.92		%	71.14		%	60.96		%
Adjusted efficiency ratio (Non-GAAP)	q/s	59.86		%	60.47		%	60.78		%	62.84		%	59.43		%

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

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

Numbers may not foot due to rounding.

CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION

Quarterly, Unaudited

($s in millions)



	Period-end								Average
	3Q24		2Q24		3Q24 vs. 2Q24				3Q24		2Q24		3Q24 vs. 2Q24










Loans excluding LMC
Total Loans (GAAP)	$	62,445	$	62,781	$	(335)	(1)	%	$	62,413	$	62,029	$	384	1	%
LMC (GAAP)	3,244		2,934		$	310	11	%	$	2,875	$	2,440	$	435	18	%
Total Loans excl. LMC (Non-GAAP)	59,201		59,847		$	(645)	(1)	%	$	59,538	$	59,589	$	(51)	—	%
Total Consumer (GAAP)	14,648		14,660		(12)		—	%	14,654		14,544		110		1	%
Total Commercial excl. LMC (Non-GAAP)	44,553		45,187		(634)		(1)	%	$	44,883	$	45,045	(161)		—	%
Total CRE (GAAP)	14,705		14,669		37		—	%	$	14,684	$	14,576	108		1	%
Total C&I excl. LMC (Non-GAAP)	$	29,848	$	30,518	$	(671)	(2)	%	$	30,199	$	30,469	(270)		(1)	%

Numbers may not foot due to rounding.



		3Q24			2Q24			1Q24			4Q23			3Q23
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	$	823		$	821		$	787		$	773		$	760
Reserve for unfunded commitments (GAAP)		75			66			79			83			82
Allowance for credit losses (Non-GAAP)	B	$	897		$	887		$	865		$	856		$	842

Loans and leases (GAAP)	C	$	62,445		$	62,781		$	61,753		$	61,292		$	61,778
Nonaccrual loans and leases (GAAP)	D	$	578		$	574		$	505		$	462		$	394

Allowance for loans and lease losses to loans and leases (GAAP)	A/C	1.32		%	1.31		%	1.27		%	1.26		%	1.23		%
Allowance for credit losses to loans and leases (Non-GAAP)	B/C	1.44		%	1.41		%	1.40		%	1.40		%	1.36		%

Allowance for loans and lease losses to nonperforming loans and leases (GAAP)	A/D	142		%	143		%	156		%	167		%	193		%
Allowance for credit losses to nonperforming loans and leases (Non-GAAP)	B/D	155		%	155		%	171		%	185		%	214		%

Numbers may not foot due to rounding.


CONSOLIDATED NON-GAAP TO GAAP RECONCILIATION
Quarterly, Unaudited

($s in millions)

	3Q24		2Q24		1Q24		4Q23		3Q23
Adjusted Pre-provision Net Revenue (PPNR)
Pre-tax income (GAAP)	$	281	$	260	$	254	$	177	$	194
Plus notable items (pretax) (GAAP) (a)	14		5		15		67		10
Adjusted Pre-tax income (non-GAAP)	$	296	$	265	$	269	$	244	$	204
Plus provision expense (GAAP)	35		55		50		50		110
Adjusted Pre-provision net revenue (PPNR) (non-GAAP)	$	331	$	320	$	319	$	294	$	314
Taxable-equivalent adjustment	4		4		4		4		4
Pre-provision net revenue-Taxable-equivalent (Non-GAAP)	$	335	$	324	$	323	$	298	$	318

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

Numbers may not foot 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.

Allowance / charge-offs: Ratio is allowance for loan and lease losses to annualized net charge-offs.

Operating Segments

Third Quarter 2024 Earnings October 16, 2024

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. FHN’s management believes such measures, even though not always comparable to non-GAAP measures used by other financial institutions, are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. 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, provide a meaningful base for comparability to other financial institutions subject to the same regulations as FHN. 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. The words “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is likely,” “will,” “going forward,” and other expressions that indicate future events and trends identify forward-looking statements. 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. Examples of uncertainties and contingencies 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. 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 mentioned in the reports listed above, those factors presented in the exhibits furnished by this report, and other factors not listed. Throughout this document, numbers may not foot due to rounding, references to EPS are fully diluted, and 3Q24 capital ratios are estimates.

3 3Q24 GAAP financial summary TBV/share, ROTCE, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the appendix. Pre-provision net revenue (PPNR) is a non-GAAP measure and is reconciled to pre-tax income (GAAP) in the table. $ in millions except per share data Reported Results 3Q24 Change vs. 3Q24 2Q24 1Q24 4Q23 3Q23 2Q24 3Q23 Net interest income $627 $629 $625 $617 $605 ($1) —% $23 4% Fee income $200 $186 $194 $183 $173 $14 8% $27 15% Total revenue $828 $815 $819 $800 $778 $13 2% $49 6% Expense $511 $500 $515 $572 $474 $11 2% $37 8% Pre-provision net revenue (PPNR) $316 $315 $304 $227 $304 $2 1% $12 4% Provision for credit losses $35 $55 $50 $50 $110 ($20) (36%) ($75) (68%) Pre-tax income $281 $260 $254 $177 $194 $22 8% $87 45% Income tax expense $58 $56 $57 ($11) $52 $2 4% $6 12% Net income $223 $204 $197 $188 $142 $20 10% $81 57% Non-controlling interest $5 $5 $5 $5 $5 $— —% $— —% Preferred dividends $5 $15 $8 $8 $8 ($10) (66%) ($3) (37%) Net income available to common shareholders (NIAC) $213 $184 $184 $175 $129 $30 16% $84 65% Diluted EPS $ 0.40 $ 0.34 $ 0.33 $ 0.31 $ 0.23 $0.06 18% $0.17 72% Average diluted shares outstanding 538 547 558 561 561 (9) (2%) (23) (4%) ROCE 10.1% 9.0% 8.8% 8.6% 6.3% 112bps 382bps ROTCE 12.6% 11.3% 11.0% 10.9% 8.0% 131bps 465bps ROA 1.1% 1.0% 1.0% 0.9% 0.7% 8bps 40bps Net interest margin 3.31% 3.38% 3.37% 3.27% 3.17% (7bps) 14bps Fee income / total revenue 24.1% 22.8% 23.7% 23.3% 22.2% 131bps 183bps Efficiency ratio 61.9% 61.4% 62.9% 71.1% 61.0% 45bps 93bps FTEs 7,186 7,297 7,327 7,277 7,340 (111) (2%) (154) (2%) CET1 ratio 11.2% 11.0% 11.3% 11.4% 11.1% 18bps 11bps Effective tax rate 20.6% 21.5% 22.5% (6.2%) 26.7% (91bps) (609bps) Tangible book value per share $13.02 $12.22 $12.16 $12.13 $11.22 $0.81 7% $1.80 16% Period end loans $62.4B $62.8B $61.8B $61.3B $61.8B ($0.3) (1%) $0.7 1% Period end deposits $66.6B $64.8B $65.7B $65.8B $67.0B $1.8 3% ($0.4) (1%) Period end loan to deposit ratio 94% 97% 94% 93% 92% (309bps) 162bps

4 Table of contents 3Q24 highlights . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 3Q24 adjusted financial results . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6 3Q24 notable items . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 NII and NIM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8 Deposits . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Adjusted fee income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Adjusted expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12 Asset quality . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13 Capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 FY24 outlook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Strategic focus . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Appendix . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17

5 • Loan-to-deposit ratio improved from 97% to 94%, largely due to successful deposit gathering with client balance growth of ~$1 billion • Total loans decreased $0.3 billion, as growth in loans to mortgage companies largely offset other C&I loan declines • Returned $75 million of capital to shareholders through repurchases • TBVPS up $0.81, driven by strong earnings and lower mark-to-market, supporting $0.15 of common dividends, as well as share buy backs • ACL coverage of 1.44% with net charge-offs of $24 million • Adjusted PPNR of $335 million, up $11 million from 2Q24 • NII relatively flat, as day count and loan yields offset higher deposit costs • Fees excluding deferred comp up $11 million, with a pick up in fixed income production ahead of anticipated rate cuts • Expenses excluding deferred comp declined by $1 million Strong 3Q24 results driven by stable, diversified business mix Reflects 3Q24 vs. 2Q24 results. ROTCE, TBV, ACL coverage ratio, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the appendix. Adjusted pre-provision net revenue (PPNR) is a non-GAAP measure and is reconciled to pre-tax income (GAAP) 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. Earnings & Returns Capital & Credit Quality Period End Balance Sheet & Liquidity Adj. EPS Adj. ROTCE NIM Adj. Efficiency $0.42 13.2% 3.31% 59.9% Deposits Loans Loan-to-Deposit Ratio +3% (1)% 94% CET1 TBV NCO% 11.2% $13.02 0.15%

6 • 3Q24 adjusted EPS of $0.42 vs. $0.36 in 2Q24 – Adjusted ROTCE of 13.2%, up 125bps – Tangible Book Value per share increased $0.81 to $13.02 • NII down $2 million linked quarter – NIM decreased 7bps driven by an increase in deposit costs and brokered funding balances, partially offset by an increase in loan yields • Adjusted fee income up $11 million excluding deferred compensation, with higher fixed income production driven by the market’s expectation of falling rates • Adjusted expense down $1 million excluding deferred compensation • Provision expense of $35 million with an ACL coverage of 1.44% 3Q24 adjusted financial highlights ROTCE, TBV, ACL coverage ratio, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the appendix. Adjusted pre-provision net revenue (PPNR) is a non-GAAP measure and is reconciled to pre-tax income (GAAP) 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 3Q24 Change vs. 3Q24 2Q24 3Q23 2Q24 3Q23 Net interest income (FTE) $631 $633 $609 ($2) —% $22 4% Fee income $200 $186 $173 $14 8% $27 15% Total revenue (FTE) $832 $819 $782 $12 2% $49 6% Expense $497 $495 $465 $2 —% $32 7% Pre-provision net revenue $335 $324 $318 $11 3% $17 5% Provision for credit losses $35 $55 $110 ($20) (36%) ($75) (68%) Net charge-offs $24 $34 $95 ($10) (29%) ($71) (75%) Reserve build / (release) $11 $21 $15 ($10) (48%) ($4) (27%) NIAC $224 $195 $150 $29 15% $74 49% Diluted EPS $0.42 $0.36 $0.27 $0.06 17% $0.15 56% Diluted shares 538 547 561 (9) (2%) (23) (4%) ROTCE 13.2% 12.0% 9.2% 125bps 403bps ROA 1.1% 1.0% 0.8% 11bps 35bps Net interest margin (NIM) 3.31% 3.38% 3.17% (7bps) 14bps Fee income / total revenue 24.0% 22.6% 22.1% 131bps 184bps Efficiency ratio 59.9% 60.5% 59.4% (61bps) 43bps CET1 Ratio 11.2% 11.0% 11.1% 18bps 11bps TBV per share $13.02 $12.22 $11.22 $0.81 7% $1.80 16% Effective tax rate 20.8% 21.5% 20.1% (75bps) 70bps

7 3Q24 notable items Notable Items ($ in millions, except EPS) 3Q24 FDIC Special Assessment $2 Visa Derivative Valuation Expense $(15) Restructuring expense ($2) Pre-tax impact of notable items $(14) Tax impact on pre-tax notable items $4 NIAC impact of notable items ($11) EPS impact of notable items ($0.02) Pre-Tax Notable Items • An expense credit of $2 million for the FDIC special assessment, based on a re-allocation of loss totals from the FDIC in 3Q24 • $15 million tied to Visa derivative valuation expenses related to the escrow funding that occurred in September • $2 million of restructuring expense primarily related to implementing operational efficiencies

8 NII remained stable, despite falling short term rates $609 $621 $628 $633 $631 3.17% 3.27% 3.37% 3.38% 3.31% 3Q23 4Q23 1Q24 2Q24 3Q24 Net Interest Income ($) and NIM (%) 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. • 3Q24 net interest income was relatively stable, while net interest margin declined 7bps versus 2Q24 – Deposit costs increased versus the prior quarter, driven by higher use of brokered deposits, success in gathering new-to- bank clients, and late cycle repricing within the existing customer base – Asset yields continued to benefit from the repricing of fixed rate cash flows in the loan and securities portfolios, as well as growth in loans to mortgage companies (LMC) balances, which are higher yielding • Subsequent changes in the net interest margin will be impacted by the pace and magnitude of incremental interest rate cuts, as well as the lag between loan and deposit repricing – Though 56%1 of loans are indexed to short-term rates, there continues to be opportunity over the next year to reprice fixed rate cash flows, including ~$4 billion of fixed rate loans with a roll-off yield of ~4.6% and $1 billion of securities at a roll-off yield of ~2.2% – Additionally, ~$18 billion of promotional client deposits are eligible for repricing in the fourth quarter $ in millions NII Margin 2Q24 $633 3.38% Day Count $4 Loan Yields & Balances $5 0.01% Customer Deposit Rate Paid $(12) (0.06)% Brokered Deposit Balances $0 (0.05)% Investment Portfolio & Other $2 0.03% 3Q24 $631 3.31%

9 $67.0B $65.8B $65.7B $64.8B $66.6B $45.3 $45.9 $46.2 $45.0 $46.0 $3.8 $2.6 $3.1 $3.5 $4.3 $17.8 $17.2 $16.4 $16.3 $16.2 Client interest-bearing deposits Brokered deposits Noninterest-bearing deposits 3Q23 4Q23 1Q24 2Q24 3Q24 Focused on growing and deepening client relationships Period end deposits • 3Q24 period end deposits of $66.6 billion were up 3% versus 2Q24 – Client balances grew approximately $1 billion – Growth was broad based, with particular momentum in the Carolinas, Alabama, and the specialty business lines – Noninterest-bearing balances remained relatively stable from previous quarter • 3Q24 interest-bearing rate paid of 3.44%, up 14bps – At the end of the quarter, the interest-bearing deposit spot rate was ~3.33%, ending 11 basis points below the quarter’s average and down slightly from the spot rate at the end of 2Q24 – Deposit portfolio includes ~$9 billion of deposits which are market indexed – Over $1 billion of brokered CDs set to mature in 4Q24 • Continuing to remain competitive while focusing on deepening relationship with existing clients, with 91% retention year-over-year

10 • 3Q24 period end loans of $62.4 billion declined $0.3 billion or 1% versus 2Q24 – Loans to mortgage companies (LMC) continued to benefit from seasonality and competitor disruption, with balances up $310 million – Exited the sponsored health care lending vertical with an opportunistic sale of a ~$340 million portfolio consisting of ~20 relationships of higher leverage, low-pass graded loans – After a period of fund ups of previously committed loans, CRE balances stabilized • Period end line utilization of 43%1 • Loan yields expanded 3bps to 6.37% driven by wider spreads on new and renewing loans, as well as continued repricing of fixed rate cash flows • Asset sensitive profile reflected in loan composition of 56% variable rate, 12% ARM, and 32% fixed rate3 1Utilization rates exclude Loans to Mortgage Companies. 2Credit card & other is $0.8B from 3Q23 to 2Q24 and $0.7B in 3Q24. 3Does not include the impact of interest rate hedges. For more detail on the hedges, see slide 18 in the appendix. Period end loans Diversified portfolio across attractive geographic footprint $61.8B $61.3B $61.8B $62.8B $62.4B $30.9B $30.6B $30.5B $30.5B $29.8B $14.1B $14.2B $14.4B $14.7B $14.7B $13.7B $13.6B $13.6B $13.9B $14.0B $2.2B $2.0B $2.4B $2.9B $3.2B C&I ex LMC Commercial real estate (CRE) Consumer real estate LMC Credit card & other 3Q23 4Q23 1Q24 2Q24 3Q24 2

11 • 3Q24 adjusted fee income excluding deferred compensation increased $11 million from 2Q24 – Fixed income increased $7 million with an average daily revenue (ADR) of $593k, up $105k or 22%, driven by higher production as the market anticipated the decline in interest rates – Mortgage banking income down $1 million, moderating slightly from home-buying season highs – The net of service charges & fees and card & digital banking fees is stable to the prior quarter – Brokerage, trust, and insurance income up $1 million, as strong market performance improved wealth management fees – Other noninterest income increased $5 million, driven by various items, including securities and other gains, higher Federal Home Loan Bank (FHLB) dividends, and bank owned life insurance (BOLI) benefits Fixed income production increased as interest rates declined ROTCE, TBV, ACL coverage ratio, and 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 3Q24 Change vs. 3Q24 2Q24 1Q24 4Q23 3Q23 2Q24 3Q23 Fixed income $47 $40 $52 $37 $28 $7 16% $19 68% Mortgage banking $9 $10 $9 $5 $7 ($1) (12%) $2 29% Service charges and fees $59 $58 $57 $59 $60 $0 —% ($1) (2%) Brokerage, trust, and insurance $39 $38 $36 $36 $34 $1 4% $6 18% Card and digital banking fees $19 $20 $19 $16 $20 ($1) (3%) ($1) (5%) Deferred compensation income $6 $3 $9 $6 $0 $3 107% $6 NM Other noninterest income $21 $17 $14 $20 $25 $5 29% ($3) (13%) Total fee income $200 $186 $194 $179 $173 $14 8% $27 15% Fee income ex deferred comp $194 $183 $186 $173 $173 $11 6% $21 12% Fixed income ADR1 $593k $488k $731k $463k $301k $105k 22% $292k 97%

12 Expenses stable as lower incentive levels offset strategic investments • 3Q24 adjusted expense, excluding deferred compensation, decreased $1 million versus 2Q24 – Personnel expense excluding deferred compensation down $1 million ◦ Salaries and benefits increased $2 million, driven by day count and higher medical expenses ◦ Despite higher fixed income production, incentives and commissions decreased $2 million, primarily due to a step down in retention expenses that were paid in 2Q24 and lower incentives in other variable compensation businesses – Changes in outside services and occupancy and equipment combined for a slight reduction, as incremental property management costs and software investments are more than offset by reduced external engagements associated with strategic investments $ in millions Adjusted Results 3Q24 Change vs. 3Q24 2Q24 1Q24 4Q23 3Q23 2Q24 3Q23 Salaries and benefits $199 $198 $199 $190 $188 $2 1% $11 6% Incentives and commissions $76 $78 $87 $80 $68 ($2) (3%) $7 11% Deferred compensation expense $6 $3 $9 $7 $0 $3 114% $7 NM Total personnel expense $281 $279 $295 $277 $256 $2 1% $26 10% Occupancy and equipment $73 $72 $72 $71 $67 $2 3% $6 8% Outside services $73 $75 $65 $84 $69 ($2) (3%) $3 5% Amortization of intangible assets $11 $11 $11 $12 $12 $— —% ($1) (8%) Other noninterest expense $59 $58 $57 $59 $60 $— 1% ($2) (3%) Total noninterest expense $497 $495 $500 $502 $465 $2 —% $32 7% Expense ex deferred comp $491 $492 $491 $495 $465 ($1) —% $26 6% Full-time equivalent associates 7,186 7,297 7,327 7,277 7,340 (111) (2%) (154) (2%) ROTCE, TBV, ACL coverage ratio, and 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. 1

13 FHN NCO%1 ( FHN NCO% ex idiosyncratic charge-off3) Average NCO% of BKX Index2 $95 $36 $40 $34 $24 0.61% 0.23% 0.27% 0.22% 0.15%0.15% 0.45% 0.53% 0.56% 0.57% 3Q23 4Q23 1Q24 2Q24 3Q24 FHN NCOs Disciplined lending leads to strong performance across the cycle ROTCE, TBV, ACL coverage ratio, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the appendix. 1Net charge-off % is annualized and as % of average loans. 2Excludes trust and investment banks. 33Q23 included a $72 million idiosyncratic C&I charge-off. NCO% excluding this charge-off is a non-GAAP measure and is reconciled to GAAP NCO% in the chart. $842 $856 $865 $887 $897 1.36% 1.40% 1.40% 1.41% 1.44% ACL ACL/Loans 3Q23 4Q23 1Q24 2Q24 3Q24 Allowance for credit losses (ACL) Non-performing loans (NPLs) $394 $462 $505 $574 $578 0.64% 0.75% 0.82% 0.91% 0.92% NPLs $ NPLs % 3Q23 4Q23 1Q24 2Q24 3Q24 • 3Q24 net charge-offs of $24 million decreased $10 million – NCO ratio of 0.15% • Provision expense of $35 million in 3Q24 – 3Q24 ACL coverage ratio increased slightly to 1.44%, driven by $8 million of qualitative reserves for Hurricane Helene and continued grade migration, which was partially offset by more favorable economic scenarios • NPL ratio of 92bps up 1bp from 2Q24 – Within the commercial NPL portfolio, 63% of loans are current on their payments Net charge-offs

14 13.6% 14.0% 13.9% 13.7% 13.9% CET1 ratio Tier 1 capital ratio Total capital ratio 3Q23 4Q23 1Q24 2Q24 3Q24 Earnings power supports return of capital to shareholders Capital Ratios $12.22 $0.42 $(0.15) $0.54 $(0.03) $0.02 $13.02 2Q24 NIAC Impact Common Dividend Mark on AFS & Hedges Share Buybacks Other 3Q24 • The CET1 ratio increased 18bps to 11.2%, above the near-term 11% target – Continued to generate capital through retained earnings, while supporting customer needs through organic deployment of capital into the loan portfolio – Returned $75 million of capital to shareholders through repurchases in third quarter with an average price paid of $15.801, outperforming the volume weighted average price (VWAP) by $0.09 – Repurchased 29 million shares of common stock or $441 million year-to-date under the $650 million share repurchase program • TBVPS of $13.02 increased $0.81 versus 2Q24, driven by strong earnings and lower mark-to-market impacts, which supported the $0.15 common dividend and an $0.03 impact from share repurchases Tangible Book Value per Share (TBVPS) ROTCE, TBV, ACL coverage ratio, and adjusted financial measures, including measures excluding deferred compensation, are non-GAAP and are reconciled to GAAP measures in the appendix. 1Represents total costs including commissions paid. Average price paid does not reflect the one percent excise tax charged on public company share repurchases. 2Other includes equity compensation. 3Net of change in intangibles. 3 11.0% 0.30% (0.11)% (0.11)% 0.09% 0.01% 11.2% 2Q24 Actual NIAC Common Dividend Share Buybacks Change in Loan Balances & Unfunded Commitments Other 3Q24 Estimate 2 Common Equity Tier 1 (CET1) 11.1% 11.4% 11.3% 11.0% 11.2% 12.1%12.3%12.4%12.1% 12.2% 2

15 Updated Full Year 2024 Outlook ROTCE, TBV, ACL coverage ratio, and adjusted financial measures, including measures excluding deferred compensation, 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. Earnings Drivers FY23 Adjusted Baseline FY24 Adjusted Expectations Comments Total Revenue $3,254 million Flat - Up 2% Composition of revenue will be driven by the quantity and pace of interest rate cuts, which will have inverse impacts to NII and fee income. Noninterest Expense $1,884 million Up 4% – 6% Reflects investment in technology and personnel, as well as increased revenue-driven incentives Net Charge-Offs 0.28% 0.25% – 0.30% Trending favorably to guidance, though recent weather events could drive incremental losses or necessitate additions to reserves Tax Rate 21.8% 21% – 23% Timing of discrete items impacts quarterly rate CET1 Ratio 11.4% ~11.0% Excess capital to be deployed organically, as well as potential for capital repatriation

16 Diversified business model with highly attractive geographic footprint provides opportunity to deliver outperformance through a variety of economic cycles Strategic focus on delivering enhanced shareholder value 1 Strong balance sheet and prudent risk management to drive increased capital efficiency and returns 2 Client-centric model committed to serving as trusted advisor through Capital + Counsel as a core differentiator3 Disciplined execution of strategy and continuous improvement mindset to further enhance efficiency and productivity 4 Investing in the well-being of associates and communities is central to our purpose5

APPENDIX 17

18 Actively managing balance sheet sensitivity Interest rate sensitivity managed in part with interest rate hedges Variable 56% Fixed 32% ARMs 12% $62.4B Floors 60% Swaps 40% $5.0B Loan repricing profile Balance sheet hedges Modest interest rate sensitivity1 +100bps +2.0% -100bps -2.6% change in the next 12 months' NII for an instantaneous, parallel shock • Modestly asset-sensitive profile driven by 56% variable rate loan mix • Reset dates of greater than one year on 93% of ARMs • 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 Assumptions: • Balance sheet is static • Instantaneous parallel shift in the entire interest rate curve 1Estimate as of 9/30/24.

19 Track record of strong results supported by stable, diversified business mix $756 $1,084 $1,222 $1,374 $1,370 $1,311 All Other Adjusted PPNR Counter-Cyclicals PPNR Avg Fed Funds Effective Rate 2019 (pre-IBKC) 2020 (IBKC in 2H20) 2021 2022 2023 2024 YTD Annualized $— $200 $400 $600 $800 $1,000 $1,200 $1,400 0% 1% 2% 3% 4% 5% 6% 7% 8% • 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 PPNR in millions 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 foot 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. Average Fed Funds Effective $598, 79% $678, 63% $875, 72% $1,267, 92% $1,344, 98% $1,236, 94% $158, 21% $406, 37% $347, 28% $74, 6% $26, 2% $108, 8% 1 1 2

20 1Q 07 1Q 08 1Q 09 1Q 10 1Q 11 1Q 12 1Q 13 1Q 14 1Q 15 1Q 16 1Q 17 1Q 18 1Q 19 1Q 20 1Q 21 1Q 22 1Q 23 1Q 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 2020 Environment 2023 Environment Up Rate Direction Down Rapid decrease in short term rates Rapid increase in short term rates Extreme (low/high) Market Volatility Moderate Moderate Extreme - MOVE index sharply higher Flat/Inverted Yield Curve Shape Steep Positive sloped Strongly inverted Tighter Corporate & Mortgage Spreads Wider Wider Stable Lower Depository Liquidity Greater Abundant - fueled by stimulus Constrained - exacerbated by QT • 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 • The variable compensation payout ratio on marginal revenue is approximately 60% 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

21 $40.3 61% $22.0 33% $4.2 6% Insured Uninsured & uncollateralized Collateralized Attractive portfolio diversified by customer type, product, and geography 67% of 3Q24 deposits insured or collateralized 3Q24 diversified deposit mix by product 24% 40% 13% 23% Demand deposit accounts Savings Time deposits Other interest-bearing deposits • Stable, cost-effective deposits from a diverse commercial and consumer client base across 12-state footprint and specialty lines of business • Commercial deposits of $37 billion or 56% and consumer deposits of $29 billion or 44% • Attractive lower-cost deposit base with 24% comprised of non-interest bearing products • Contingency funding plan equates to ~153% of uninsured or uncollateralized deposits Banking centers in attractive Southeast footprint1 All deposit balances are period end unless otherwise noted. 1One banking center in New York not shown. $66.6B

22 $1.2B $3.4B $3.1B $7.0B Floating Fixed 2024 2025 2026 2027+ <$5 $3.3B $5-$10 $2.0B $10-$20 $2.9B $20-$30 $2.5B $30-$40 $2.4B $40-$50 $1.0B >$50 $0.7B 73% 86% 80% 61% CRE by Loan Size2 CRE by State3 Maturity Schedule CRE by Property Type High credit quality, diversified CRE portfolio All loan balances are period end unless otherwise noted. 1FHN’s CRE metrics database includes information for all loans in the Pro CRE LOB, as well as market/investor CRE loans $5+ million in commitments, which encompasses 75% of total CRE commitments. 2Loan size ranges in millions and dollar amounts are total funded balances in that size range to any single customer. 3Excludes CRE balances totaling $1.4B outside the Southeast and New York footprint. • Disciplined risk management practice and underwriting standards across CRE portfolio • No significant upcoming repricing event, as ~72% of loans are floating and maturities are dispersed over time • Granular portfolio with only 15 loans with commitments above $50 million • No property type comprises over 8% of total loans • Average debt service coverage of 1.4x and average stabilized LTV of 54%1 $ in billions $14.7B 27% 14% 20% 39% 36% 9% 9% 15% 15% 9% 4% 3% Multi-Family Traditional Office Medical Office Retail Industrial Hospitality Other Land + Residential

23 0.3M 1.2M 1.3M 14.0M 2024 2025 2026 2027+ Multi-Family2 $ in millions Multi-Family CRE1 Strong underwriting in the office and multi-family portfolios All loan balances are period end unless otherwise noted. 1FHN’s CRE metrics database includes information for all loans in the Pro CRE LOB, as well as market/investor CRE loans $5+ million in commitments, which encompasses 71% of traditional office CRE commitments and 88% of multi-family CRE commitments. 2Excludes traditional office balances totaling $62 million and multi-family balances totaling $97 million outside of the Southeast and New York footprint. Maps encompass entirety of traditional office and multi-family CRE portfolios. Traditional Office2 $ in millions • Average debt service coverage of 1.2x • Average stabilized LTV of 52% • Average property has 238 units • Low exposure to rent control, which is mostly related to low and moderate income housing focused on serving the communities in our footprint Office CRE • Medical office comprises 49% of office exposure • Only 13 projects are 10 stories or taller • Within the traditional office portfolio1: – Average debt service coverage of 1.6x – Average stabilized LTV of 60% – Vacancy rate of 13% Office Lease Renewals Square Feet in Millions

24 81% 14% 5% Real estate installment loans HELOC Credit card and other Granular C&I portfolio and real estate backed consumer portfolio C&I by Industry 20% 19% 12% 11% 9% 7% 6% 6% 5% 4% TN All Other FL TX Other Southeastern NC LA CA GA AL C&I by State Consumer Portfolio by Product 11% 11% 10% 8% 7%7% 7% 5% 5% 4% 25% Real Estate & Leasing Finance & Insurance Mortgage Warehouse Healthcare & Social Assistance Wholesale Trade Manufacturing Accommodation & Food Service Retail Trade Transportation & Warehousing Energy Other 14 Industries • The C&I portfolio is both geographically diverse and benefits from a lack of industry concentration – No more than 11% C&I exposure to any industry – Southeastern footprint is economically and demographically strong – Exposure to markets outside the southeast primarily driven by specialty businesses • Consumer portfolio focused on real estate, with negligible exposure to auto or consumer credit card All loan balances are period end unless otherwise noted. $33.1B $14.6B

25 $0.3B $0.3B $0.3B $0.3B 4Q24 1Q25 2Q25 3Q25 Agency MBS 42% Agency CMBS 26% Agency CMO 13% U.S. Agencies & Treasury 12% States & Municipalities 6% $9.8B $9.4B $9.6B $9.3B $9.4B 2.54% 2.62% 2.54% 2.58% 2.58% Average AFS Securities Average HTM Securities Average Yield 3Q23 4Q23 1Q24 2Q24 3Q24 Investment portfolio prudently managed to support liquidity and IRR • 3Q24 investment portfolio represents ~11% of total assets – Moderate total portfolio effective duration of 4.6 – Low reliance on HTM designation at ~14% of total portfolio – 94% U.S. government or agency-backed by GSEs • 3Q24 total unrealized losses on the AFS and HTM portfolios of $1.0B, improved from 2Q24 levels 1Calculated based on period end market values. 2Estimated as of 9/30/24; includes maturities and projected calls. Steady principal cash flows2 Investment portfolio 3Q23 4Q23 1Q24 2Q24 3Q24 % of total assets 12% 11% 12% 11% 11% Pre-tax unrealized losses ($1.8B) ($1.3B) ($1.4B) ($1.4B) ($1.0B) Effective duration 5.2 5.0 5.0 4.9 4.6 Unencumbered securities / total securities1 33% 30% 27% 25% 38% 3Q24 investment portfolio composition1

26 Notable Items *3Q24, 2Q24, 1Q24 and 3Q23 include $2 million, $3 million, $5 million and $10 million of restructuring expenses; 3Q24 includes $15 million of Visa derivative valuation expenses. **4Q23 includes a discrete benefit primarily attributable to the resolution of merger-related tax items and 3Q23 includes after-tax notable items of $24 million related to the surrender of approximately $214 million in book value of bank owned life insurance policies, partially offset by an $11 million benefit from merger-related tax items. $ in millions, except EPS 3Q24 2Q24 1Q24 4Q23 3Q23 Summary of Notable Items: Gain/(loss) related to equity securities investments (other noninterest income) $ — $ — $ — $ (6) $ — Net gain on asset disposition (other noninterest income less incentives) — — — 7 — FDIC special assessment (other noninterest expense) 2 (2) (10) (68) — Other notable expenses* (17) (3) (5) — (10) Total notable items (pre-tax) (14) (5) (15) (67) (10) Tax related notable items** — — — 48 (13) Series D Preferred Stock — (7) — — — EPS impact of notable items $ 0.02 $ 0.02 $ 0.02 $ 0.01 $ 0.04

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. (a) Included in Total Equity on the Consolidated Balance Sheet. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding. $s in millions, except per share data Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 Tangible Common Equity (non-GAAP) (A) Total equity (GAAP) $ 9,316 $ 8,955 $ 9,173 $ 9,291 $ 8,794 Less: Noncontrolling interest (a) 295 295 295 295 295 Less: Preferred stock (a) 426 426 520 520 520 (B) Total common equity $ 8,595 $ 8,234 $ 8,358 $ 8,476 $ 7,978 Less: Intangible assets (GAAP) (b) 1,663 1,674 1,685 1,696 1,709 (C) Tangible common equity (non-GAAP) $ 6,931 $ 6,560 $ 6,673 $ 6,779 $ 6,270 Tangible Assets (non-GAAP) (D) Total assets (GAAP) $ 82,635 $ 82,230 $ 81,799 $ 81,661 $ 82,533 Less: Intangible assets (GAAP) (b) 1,663 1,674 1,685 1,696 1,709 (E) Tangible assets (non-GAAP) $ 80,971 $ 80,556 $ 80,114 $ 79,965 $ 80,825 Period end Shares Outstanding (F) Period end shares outstanding 532 537 549 559 559 Ratios (A)/(D) Total equity to total assets (GAAP) 11.27 % 10.89 % 11.21 % 11.38 % 10.65 % (C)/(E) Tangible common equity to tangible assets (“TCE/TA”) (non-GAAP) 8.56 % 8.14 % 8.33 % 8.48 % 7.76 % (B)/(F) Book value per common share (GAAP) $ 16.15 $ 15.34 $ 15.23 $ 15.17 $ 14.28 (C)/(F) Tangible book value per common share (non-GAAP) $ 13.02 $ 12.22 $ 12.16 $ 12.13 $ 11.22

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 Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 Adjusted Diluted EPS Net income available to common shareholders ("NIAC") (GAAP) a $ 213 $ 184 $ 184 $ 175 $ 129 Plus Total notable items (after-tax) (non-GAAP) (a) 11 11 12 3 20 Adjusted net income available to common shareholders (non-GAAP) b $ 224 $ 195 $ 196 $ 178 $ 150 Diluted Shares (GAAP) c 538 547 558 561 561 Diluted EPS (GAAP) a/c $ 0.40 $ 0.34 $ 0.33 $ 0.31 $ 0.23 Adjusted diluted EPS (non-GAAP) b/c $ 0.42 $ 0.36 $ 0.35 $ 0.32 $ 0.27 Adjusted Net Income ("NI") and Adjusted Return on Assets ("ROA") Net Income ("NI") (GAAP) $ 223 $ 204 $ 197 $ 188 $ 142 Plus Relevant notable items (after-tax) (non-GAAP) (a) 11 4 12 3 20 Adjusted NI (non-GAAP) $ 234 $ 208 $ 209 $ 191 $ 163 NI (annualized) (GAAP) d $ 889 $ 820 $ 791 $ 746 $ 565 Adjusted NI (annualized) (non-GAAP) e $ 932 $ 836 $ 838 $ 757 $ 646 Average assets (GAAP) f $ 82,366 $ 81,721 $ 81,243 $ 82,313 $ 83,220 ROA (GAAP) d/f 1.08 % 1.00 % 0.97 % 0.91 % 0.68 % Adjusted ROA (non-GAAP) e/f 1.13 % 1.02 % 1.03 % 0.92 % 0.78 % 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 $ 849 $ 739 $ 739 $ 695 $ 513 Adjusted Net income available to common shareholders (annualized) (non-GAAP) h $ 892 $ 785 $ 787 $ 706 $ 594 Average Common Equity (GAAP) i $ 8,407 $ 8,228 $ 8,436 $ 8,090 $ 8,163 Intangible Assets (GAAP) (b) 1,669 1,680 1,691 1,702 1,714 Average Tangible Common Equity (non-GAAP) j $ 6,738 $ 6,548 $ 6,745 $ 6,388 $ 6,448 ROCE (GAAP) g/i 10.10 % 8.98 % 8.76 % 8.60 % 6.28 % ROTCE (non-GAAP) g/j 12.60 % 11.29 % 10.95 % 10.89 % 7.95 % Adjusted ROTCE (non-GAAP) h/j 13.24 % 11.99 % 11.65 % 11.05 % 9.21 % (a) Adjusted for notable items as detailed on page 26 (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding.

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. $s in millions Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 Adjusted Noninterest Income as a % of Total Revenue Noninterest income (GAAP) k $ 200 $ 186 $ 194 $ 183 $ 173 Plus notable items (pretax) (GAAP) (a) $ — $ — $ — $ (4) $ — Adjusted noninterest income (non-GAAP) l $ 200 $ 186 $ 194 $ 179 $ 173 Revenue (GAAP) m $ 828 $ 815 $ 819 $ 800 $ 778 Taxable-equivalent adjustment $ 4 $ 4 $ 4 $ 4 $ 4 Revenue- Taxable-equivalent (non-GAAP) $ 832 $ 819 $ 823 $ 804 $ 782 Plus notable items (pretax) (GAAP) (a) $ — $ — $ — $ (4) $ — Adjusted revenue (non-GAAP) n $ 832 $ 819 $ 823 $ 800 $ 782 Securities gains/(losses) (GAAP) o $ 1 $ 1 $ — $ (5) $ — Noninterest income as a % of total revenue (GAAP) (k-o)/ (m-o) 24.06 % 22.75 % 23.72 % 23.33 % 22.23 % Adjusted noninterest income as a % of total revenue (non-GAAP) l/n 23.95 % 22.64 % 23.61 % 22.32 % 22.11 % Adjusted Efficiency Ratio Noninterest expense (GAAP) p $ 511 $ 500 $ 515 $ 572 $ 474 Plus notable items (pretax) (GAAP) (a) (14) (5) (15) (70) (10) Adjusted noninterest expense (non-GAAP) q $ 497 $ 495 $ 500 $ 502 $ 465 Revenue (GAAP) r $ 828 $ 815 $ 819 $ 800 $ 778 Taxable-equivalent adjustment 4 4 4 4 4 Revenue- Taxable-equivalent (non-GAAP) 832 819 823 804 782 Plus notable items (pretax) (GAAP) (a) — — — (4) — Adjusted revenue (non-GAAP) s $ 832 $ 819 $ 823 $ 800 $ 782 Securities gains/(losses) (GAAP) t $ 1 $ 1 $ — $ (5) $ — Efficiency ratio (GAAP) p/ (r-t) 61.89 % 61.44 % 62.92 % 71.14 % 60.96 % Adjusted efficiency ratio (non-GAAP) q/s 59.86 % 60.47 % 60.78 % 62.84 % 59.43 % (a) Adjusted for notable items as detailed on page 26. (b) Includes goodwill and other intangible assets, net of amortization. Numbers may not foot due to rounding.

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. $s in millions Period end Average 3Q24 2Q24 3Q24 vs. 2Q24 3Q24 2Q24 3Q24 vs. 2Q24 Loans excluding LMC Total Loans (GAAP) $ 62,445 $ 62,781 $ (335) (1) % $ 62,413 $ 62,029 $ 384 1 % LMC (GAAP) 3,244 2,934 310 11 % 2,875 2,440 435 18 % Total Loans excl. LMC (non-GAAP) 59,201 59,847 (645) (1) % 59,538 59,589 (51) — % Total Consumer (GAAP) 14,648 14,660 (12) — % 14,654 14,544 110 1 % Total Commercial excl. LMC (non-GAAP) 44,553 45,187 (634) (1) % 44,883 45,045 (161) — % Total CRE (GAAP) 14,705 14,669 37 — % 14,684 14,576 108 1 % Total C&I excl. LMC (non-GAAP) $ 29,848 $ 30,518 $ (671) (2) % $ 30,199 $ 30,469 $ (270) (1) % $s in millions Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 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 $ 823 $ 821 $ 787 $ 773 $ 760 Reserve for unfunded commitments (GAAP) 75 66 79 83 82 Allowance for credit losses (non-GAAP) B $ 897 $ 887 $ 865 $ 856 $ 842 Loans and leases (GAAP) C $ 62,445 $ 62,781 $ 61,753 $ 61,292 $ 61,778 Nonaccrual loans and leases (GAAP) D $ 578 $ 574 $ 505 $ 462 $ 394 Allowance for loans and lease losses to loans and leases (GAAP) A/C 1.32 % 1.31 % 1.27 % 1.26 % 1.23 % Allowance for credit losses to loans and leases (non-GAAP) B/C 1.44 % 1.41 % 1.40 % 1.40 % 1.36 % Allowance for loans and lease losses to nonperforming loans and leases (GAAP) A/D 142 % 143 % 156 % 167 % 193 % Allowance for credit losses to nonperforming loans and leases (non-GAAP) B/D 155 % 155 % 171 % 185 % 214 %

31 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 26. Numbers may not foot due to rounding. $s in millions Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 Adjusted noninterest income excluding deferred compensation income Noninterest income (GAAP) $ 200 $ 186 $ 194 $ 183 $ 173 Plus notable items (pretax) (GAAP) (a) — — — (4) — Adjusted noninterest income (non-GAAP) $ 200 $ 186 $ 194 $ 179 $ 173 Less deferred compensation income (GAAP) 6 3 9 6 — Adjusted noninterest income excluding deferred compensation income (non-GAAP) $ 194 $ 183 $ 186 $ 173 $ 173 Adjusted noninterest expense excluding deferred compensation expense Noninterest expense (GAAP) $ 511 $ 500 $ 515 $ 572 $ 474 Plus notable items (pretax) (GAAP) (a) (14) (5) (15) (70) (10) Adjusted noninterest expense (non-GAAP) $ 497 $ 495 $ 500 $ 502 $ 465 Less deferred compensation expense (GAAP) 6 3 9 7 — Adjusted noninterest expense excluding deferred compensation expense (non-GAAP) $ 491 $ 492 $ 491 $ 495 $ 465 Adjusted personnel expense excluding deferred compensation expense Personnel expense (GAAP) $ 282 $ 279 $ 301 $ 279 $ 266 Plus notable items (pretax) (GAAP) (a) (1) (1) (5) (2) (10) Adjusted personnel expense (non-GAAP) $ 281 $ 279 $ 295 $ 277 $ 256 Less deferred compensation expense (GAAP) 6 3 9 7 — Adjusted personnel expense excluding deferred compensation expense (non-GAAP) $ 275 $ 276 $ 286 $ 270 $ 256 $s in millions Quarterly, Unaudited 3Q24 2Q24 1Q24 4Q23 3Q23 Adjusted Pre-provision Net Revenue (PPNR) Pre-tax income (GAAP) $ 281 $ 260 $ 254 $ 177 $ 194 Plus notable items (pretax) (GAAP) (a) 14 5 15 67 10 Adjusted Pre-tax income (non-GAAP) $ 296 $ 265 $ 269 $ 244 $ 204 Plus provision expense (GAAP) 35 55 50 50 110 Adjusted Pre-provision net revenue (PPNR) (non-GAAP) $ 331 $ 320 $ 319 $ 294 $ 314 Taxable-equivalent adjustment 4 4 4 4 4 Pre-provision net revenue-Taxable-equivalent (non-GAAP) $ 335 $ 324 $ 323 $ 298 $ 318

32 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 2024 YTD Annualized2019 2020 2021 2022 2023 Adjusted Pre-provision Net Revenue (PPNR) Pre-tax Income (GAAP) $ 586 $ 933 $ 1,284 $ 1,159 $ 1,128 $ 1,062 Provision Expense (GAAP) 45 503 (310) 95 260 187 Total PPNR (non-GAAP) $ 631 $ 1,436 $ 974 $ 1,254 $ 1,388 $ 1,249 Taxable-equivalent adjustment (9) (11) (12) (13) (16) (16) Notable Items (GAAP) (a) (114) 363 (235) (107) 33 (47) Adjusted PPNR (non-GAAP) $ 756 $ 1,084 $ 1,222 $ 1,374 $ 1,370 $ 1,311 Numbers may not foot 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.

Cover	Oct. 16, 2024
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Oct. 16, 2024
Entity Registrant Name	FIRST HORIZON CORP
Entity Incorporation, State or Country Code	TN
Entity File Number	001-15185
Entity Tax Identification Number	62-0803242
Entity Address, Address Line One	165 Madison Avenue
Entity Address, City or Town	Memphis,
Entity Address, State or Province	TN
Entity Address, Postal Zip Code	38103
City Area Code	901
Local Phone Number	523-4444
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000036966
Amendment Flag	false
$0.625 Par Value Common Capital Stock
Document Information [Line Items]
Title of 12(b) Security	$0.625 Par Value Common Capital Stock
Trading Symbol	FHN
Security Exchange Name	NYSE
Depository Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series B
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/400th interest in
Trading Symbol	FHN PR B
Security Exchange Name	NYSE
Depository Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series C
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/400th interest in
Trading Symbol	FHN PR C
Security Exchange Name	NYSE
Depository Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series E
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/4,000th interest in
Trading Symbol	FHN PR E
Security Exchange Name	NYSE
Depository Shares, each representing a 1/4,000th interest in a share of Non-Cumulative Perpetual Preferred Stock, Series F
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/4,000th interest in
Trading Symbol	FHN PR F
Security Exchange Name	NYSE