MEMPHIS, Tenn., Aug. 8, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") is proud to announce that Senior Executive Vice President and Chief Financial Officer Hope Dmuchowski has been named to the Memphis Business Journal's Super Women in Business Class of 2025. Hope Dmuchowski, Senior Executive Vice President and Chief Financial Officer, First Horizon; Memphis Business Journal Super Women in Business Class of 2025 This honor celebrates high-achieving women in the Memphis b ...

Washington, D.C. 20549 _____________________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION FORM 10-Q _____________________________________ (State or other jurisdiction of incorporation or organization) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to_______ ...

Core Viewpoint - First Horizon Corporation (FHN) reported second-quarter 2025 adjusted earnings per share (EPS) of 45 cents, exceeding the Zacks Consensus Estimate of 41 cents and up from 36 cents in the same quarter last year [1][10] Financial Performance - Net income available to common shareholders on a GAAP basis was $233 million, reflecting a 27% year-over-year increase [2] - Total quarterly revenues reached $830 million, a 1.8% increase year over year, although it missed the Zacks Consensus Estimate by 0.9% [3][10] - Net interest income (NII) rose nearly 2% year over year to $641 million, with the net interest margin increasing by 2 basis points to 3.40% [3] - Non-interest income was $189 million, up 1.6% from the previous year [3] Expense Management - Non-interest expenses decreased by 1.8% year over year to $491 million, attributed to declines in most cost components except for occupancy, equipment costs, and salary and benefits [4] - The efficiency ratio improved to 59.20%, down from 61.44% in the prior year, indicating enhanced profitability [4] Loan and Deposit Growth - Total period-end loans and leases were $63.3 billion, a 1.7% increase from the previous quarter [5] - Total period-end deposits rose to $65.6 billion, up 2.1% [5] Credit Quality - Non-performing loans and leases increased by 3.3% year over year to $593 million [6] - The allowance for loan and lease losses decreased by 0.8% year over year to $814 million, with the ratio of total allowance to loans and leases at 1.29%, down from 1.31% [6] - Net charge-offs remained flat year over year at $34 million, while the provision for credit losses dropped 45% to $30 million [7] Capital Ratios - As of June 30, 2025, the Common Equity Tier 1 ratio was stable at 11%, with the total capital ratio also unchanged at 14% [8]

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $0.45 per share, reflecting a $0.03 increase from the prior quarter [8] - Pre-provision net revenue (PPNR) grew by $4 million from the first quarter, primarily driven by a $10 million increase in net interest income [8][9] - Total expenses, excluding deferred compensation, increased by only $4 million from the last quarter [16] Business Line Data and Key Metrics Changes - The loan portfolio increased by 2% quarter over quarter, with significant growth in loans to mortgage companies, which rose by $689 million [13] - Fee income decreased by $3 million from the prior quarter, with fixed income performance declining slightly [14] - Non-interest bearing deposits increased by $57 million, supported by successful seasonal marketing promotions [12] Market Data and Key Metrics Changes - Period end balances for both loans and deposits finished 2% higher quarter over quarter [10] - The average rate paid on interest-bearing deposits increased to 2.76%, up from 2.72% in the first quarter [12] - The charge-off ratio remained stable at 22 basis points, in line with expectations [17] Company Strategy and Development Direction - The company aims to achieve a 15% plus return on tangible common equity (ROTCE) over the next two to three years [20] - Focus remains on organic loan growth and enhancing client relationships to drive profitability [20][22] - The company is committed to maintaining capital levels in line with a near-term target of 11% CET1 [18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic fundamentals in their southern footprint, expecting stability through 2025 and into 2026 [7] - There is a recognition of increased deposit pressure and competition, but the company remains focused on expense and pricing discipline [8] - Management noted that borrowers are showing resilience and optimism, with expectations for improved activity in the latter half of the year [28] Other Important Information - The company retained approximately 95% of balances associated with clients who had a repricing event in the quarter [12] - The company has a strong credit culture, with years of disciplined underwriting providing stability across economic cycles [17] - The company is exploring opportunities to grow PPNR by $100 million or more through synergies and deepening client relationships [20][78] Q&A Session Summary Question: Client health and loan growth outlook - Management noted that borrowers are resilient and optimistic, with expectations for improved activity as tariff questions settle [28] Question: CET1 target and buyback appetite - Management indicated that they are comfortable with the current CET1 target and will evaluate capital levels based on growth opportunities [30][32] Question: Deposit repricing opportunities - Management acknowledged potential deposit repricing opportunities but noted that competition is heating up, leading to a zigzag pattern in deposit pricing [38] Question: Signs of stress in credit sectors - Management highlighted consumer-facing industries like trucking and auto finance as areas to watch closely for stress [42] Question: Expectations for mortgage warehouse balances - Management expects mortgage warehouse balances to remain stable or increase, depending on the mortgage industry's trends [48] Question: Fee income trends and expense guidance - Management indicated that fee income is under pressure, but they do not expect expenses to exceed a 2% increase [66] Question: Regulatory developments and capital deployment - Management is optimistic about regulatory changes that may allow for greater capital flexibility in the future [100] Question: Trends in loan repricing and spread compression - Management noted increased competition on both deposit and lending sides, with expectations for continued competitive pressures [106]

Financial Data and Key Metrics Changes - The company reported an adjusted EPS of $0.45 per share, reflecting a $0.03 increase from the prior quarter [7] - Pre-provision net revenue (PPNR) grew by $4 million from the first quarter, primarily driven by a $10 million increase in net interest income [7][8] - Total expenses, excluding deferred compensation, increased by only $4 million from the last quarter [15] Business Line Data and Key Metrics Changes - The loan portfolio saw a 2% increase quarter over quarter, with significant growth in loans to mortgage companies, which rose by $689 million [13] - The commercial and industrial (C&I) portfolio also grew, with period-end balances up $316 million quarter over quarter [13] - Fee income performance decreased by $3 million from the prior quarter, with fixed income performance declining slightly [14] Market Data and Key Metrics Changes - Period-end deposit balances increased by $1.4 billion compared to the prior quarter, driven by a $1.6 billion increase in brokered CDs [12] - The average rate paid on interest-bearing deposits increased to 2.76%, up from 2.72% in the first quarter [12] - The charge-off ratio remained stable at 22 basis points, consistent with expectations for the year [16] Company Strategy and Development Direction - The company aims to achieve a return on tangible common equity (ROTCE) of over 15% in the next two to three years, focusing on operational efficiency and profitability [19][22] - There is a strong emphasis on organic loan growth and enhancing client relationships to drive pre-provision net revenue [19][22] - The company is committed to maintaining capital levels in line with a near-term target of 11% CET1, with ongoing discussions about potential adjustments [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the economic fundamentals in their southern footprint, expecting stability through the latter half of 2025 and into 2026 [6] - There is a recognition of increased competition and deposit pressure, but the company remains focused on profitability and sustainable growth [6][7] - Management noted that borrowers are showing resilience and optimism, which is expected to lead to improved activity in the second half of the year [27] Other Important Information - The company retained over half of its $1 billion share repurchase authorization, using $9 million in the second quarter [17] - The company is seeing opportunities to grow PPNR by $100 million or more over the coming years through synergies and deepening client relationships [19][22] Q&A Session Summary Question: Client health and loan growth outlook - Management noted that borrowers are resilient and optimistic, with expectations for improved activity as tariff questions are settled [27] Question: CET1 target and buyback appetite - Management indicated that they are comfortable with the current CET1 target and will evaluate capital deployment based on loan growth opportunities [30][31] Question: Deposit repricing opportunities - Management sees potential for deposit repricing but expects fluctuations based on market conditions and competition [36][38] Question: Signs of stress in credit sectors - Management highlighted consumer-facing industries like trucking and auto finance as areas to watch closely for stress [42] Question: Expectations for mortgage warehouse balances - Management expects mortgage warehouse balances to remain stable or increase, depending on mortgage industry trends [50] Question: Expense guidance and fee income trends - Management confirmed that the high end of the expense guidance is not expected to exceed 2%, with a focus on maintaining cost discipline [95] Question: Regulatory developments and capital deployment - Management is optimistic about potential regulatory changes that could facilitate M&A opportunities but remains focused on organic growth [102] Question: Trends in loan repricing and margin - Management noted increased competition on both deposit and lending sides, with expectations for continued competitive pressures [106][108]

Second Quarter 2025 Earnings July 16, 2025 Disclaimers Non-GAAP Information Certain measures included in this document are "non-GAAP," meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN's management believes such measures are relevant to understanding the financi ...

Group 1 - First Horizon National (FHN) reported quarterly earnings of $0.45 per share, exceeding the Zacks Consensus Estimate of $0.41 per share, and up from $0.36 per share a year ago, representing an earnings surprise of +9.76% [1] - The company posted revenues of $834 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.89%, compared to $815 million in the same quarter last year [2] - First Horizon has surpassed consensus EPS estimates in all four of the last quarters and has topped consensus revenue estimates two times over the same period [2] Group 2 - The stock has gained approximately 5.4% since the beginning of the year, while the S&P 500 has increased by 6.2% [3] - The current consensus EPS estimate for the upcoming quarter is $0.43 on revenues of $845.07 million, and for the current fiscal year, it is $1.71 on revenues of $3.33 billion [7] - The Zacks Industry Rank for Banks - Southwest is in the top 17% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

First Horizon Corporation Delivers Strong Second Quarter 2025 Results Net Income Available to Common Shareholders of $233 Million with an EPS of $0.45, a $0.04 Increase from Prior Quarter; $229 Million or $0.45 on an Adjusted Basis, up $0.03 from Prior Quarter* MEMPHIS, TN (July 16, 2025) – First Horizon Corporation (NYSE: FHN or "First Horizon") today reported second quarter net income available to common shareholders ("NIAC") of $233 million or earnings per share of $0.45, compared with first quarter 2025 ...

Net Income Available to Common Shareholders of $233 Million with an EPS of $0.45, a $0.04 Increase from Prior Quarter; $229 Million or $0.45 on an Adjusted Basis, up $0.03 from Prior Quarter* MEMPHIS, Tenn., July 16, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today reported second quarter net income available to common shareholders ("NIAC") of $233 million or earnings per share of $0.45, compared with first quarter 2025 NIAC of $213 million or earnings per share of $0.41. ...

Core Viewpoint - Analysts expect First Horizon National (FHN) to report quarterly earnings of $0.41 per share, reflecting a year-over-year increase of 13.9%, with revenues projected at $826.62 million, up 1.4% from the previous year [1] Earnings Projections - The consensus EPS estimate has been adjusted downward by 0.6% over the past 30 days, indicating a reassessment by analysts [1][2] - Revisions to earnings projections are crucial for predicting investor behavior and stock performance [2] Key Metrics Forecast - Analysts predict an 'Efficiency Ratio' of 60.5%, down from 61.4% in the same quarter last year [4] - 'Net Interest Margin (FTE)' is expected to remain stable at 3.4%, consistent with the previous year's figure [4] - 'Average Balance - Total interest earning assets' is projected to reach $75.43 billion, slightly up from $75.24 billion last year [5] - 'Total nonperforming assets' are expected to be $629.23 million, an increase from $582.00 million in the same quarter last year [5] - 'Total nonperforming loans and leases' are forecasted at $627.23 million, up from $574.00 million last year [6] - 'Total Non-Interest Income' is estimated at $189.18 million, compared to $186.00 million in the same quarter last year [6] - 'Net Interest Income' is projected to be $637.47 million, slightly higher than the $629.00 million reported last year [7] - 'Service charges and fees' are expected to be $53.02 million, down from $58.00 million last year [8] - 'Other noninterest income' is forecasted at $18.45 million, up from $17.00 million last year [8] - 'Mortgage banking' is predicted at $9.62 million, down from $10.00 million last year [9] - 'Fixed income' is estimated at $49.28 million, an increase from $40.00 million last year [9] Stock Performance - Shares of First Horizon have returned +11.6% over the past month, outperforming the Zacks S&P 500 composite's +4.1% change [9]