First Horizon (FHN) 2026 RBC Capital Markets Global Financial Institutions Conference summary

Strategic overview and market positioning

• Operates across 12 southern states, with a strong presence in high-growth markets from Virginia to Texas and Arkansas to Florida.

• Formed through the merger of two regional banks, leveraging complementary footprints and specialty businesses for balanced performance.

• Focused on commercial and consumer banking, with a tilt toward commercial, and specialty businesses that provide stability across rate cycles.

• Southern U.S. footprint benefits from strong economies, low unemployment, and significant in-migration, positioning the region as a key U.S. growth engine.

Recent performance and forward outlook

• 2025 was a year of building momentum, with a simplified strategic framework communicated across the organization.

• Progress made toward $100 million in pre-tax profitability improvements, with another $100 million opportunity identified.

• Business narrowed to focus on areas delivering shareholder value, emphasizing deep, profitable relationships.

• Integration of cultures and consistent consumer and commercial strategies have been prioritized.

Lending, pipelines, and business lines

• Strong start to 2026, with robust loan pipelines and C&I loan growth up over 1% quarter-over-quarter.

• Commercial real estate lending shows signs of recovery as inflation and rates stabilize, with pipelines at their strongest since 2021.

• Mortgage Warehouse Lending remains flat due to seasonality but benefits from expanded relationships and is expected to grow in Q2 and Q3.

• Net interest income and loan growth are tracking in line with internal forecasts, with mid-single digit growth expected for the year.