Financial Data and Key Metrics Changes - The company reported an adjusted earnings per share (EPS) of $0.51, a $0.06 increase from the previous quarter [5] - Adjusted return on tangible common equity increased by 135 basis points to 15% [5] - Net interest income (NII) grew by $33 million, with a 15 basis point expansion of net interest margin to 3.55% [5][6] - Average rate paid on interest-bearing deposits increased to 2.78%, up from 2.76% in the previous quarter [6] Business Line Data and Key Metrics Changes - The loan portfolio saw a slight decrease, with loans to mortgage companies down $132 million, consistent with seasonal trends [7] - Commercial and industrial (CNI) portfolio increased by $174 million quarter over quarter [8] - Fee income increased by $26 million from the prior quarter, driven by improved business conditions [8] - Adjusted expenses increased by $45 million from the previous quarter, primarily due to personnel expenses and outside services [9] Market Data and Key Metrics Changes - Period-end deposits decreased by $52 million, driven by a $652 million decrease in brokered CDs, but non-interest-bearing deposits increased by $131 million [6] - The company retained approximately 97% of the $29 billion in balances associated with clients who had a repricing event [6] Company Strategy and Development Direction - The company aims to achieve a sustainable 15% plus adjusted return on tangible common equity [12] - Focus on executing initiatives that could generate over $100 million in additional pre-tax net revenue [15] - The company is optimistic about capitalizing on profitable loan growth due to recent Fed rate cuts [14] Management's Comments on Operating Environment and Future Outlook - Management noted increased client confidence and pipeline momentum, despite potential impacts from tariff uncertainties [19] - The company is confident in its ability to integrate a well-structured merger if opportunities arise in 2026 or beyond [15] - The outlook for charge-offs and taxes remains unchanged as the year closes [12] Other Important Information - The company ended the quarter with a Common Equity Tier 1 (CET1) ratio of 11%, flat quarter over quarter [10] - Share buybacks accelerated to $190 million, with approximately 8.6 million shares repurchased [11] Q&A Session Summary Question: How optimistic is the company on growth, and is there a noticeable change from a quarter ago? - Management noted a noticeable increase in client confidence and pipeline momentum, with lower rates contributing positively [19] Question: What is the expected margin for the fourth quarter? - The CFO indicated that the margin would likely be in the high 330s to low 340s, adjusting for one-time items [20] Question: What is driving the decline in core deposits? - Management explained that the industry is experiencing a shrinkage in deposits, with a focus on retaining existing clients and attracting new ones [28] Question: What are the company's M&A considerations? - Management emphasized a focus on organic growth but acknowledged the potential for opportunistic M&A if suitable opportunities arise [34][41] Question: How does the company plan to achieve the 15% ROCI target? - The strategy includes reducing capital, normalizing credit costs, and leveraging existing client relationships for revenue growth [66]

Financial Performance - The company's net interest income (FTE) was $678 million, a 7% increase compared to 3Q24's $631 million[9] - Fee income remained at $215 million, a 7% increase compared to 3Q24's $200 million[9] - Adjusted EPS was $051, a 13% increase from 2Q25's $045 and a 21% increase from 3Q24's $042[9, 11] - Adjusted ROTCE was 150%, a 135bps increase from 2Q25[11] - Adjusted PPNR was $351 million, up 4% from 2Q25[11] Balance Sheet and Capital - Period-end loans totaled $631 billion, slightly down from 2Q25[7, 29] - Period-end deposits totaled $655 billion, a slight decrease from 2Q25[7, 25] - CET1 ratio remained at 110%, in line with the near-term target[7, 11, 49] - Tangible book value per share (TBVPS) increased to $1394, a 3% increase from 2Q25's $1357[7, 9, 52] Asset Quality - Net charge-offs decreased to $26 million, or 017% of total loans, down from $34 million in 2Q25[11] - Provision credit was $5 million, down from a $30 million expense in 2Q25[11] - ACL to loans ratio decreased to 138%[44]

Core Insights - First Horizon National (FHN) reported quarterly earnings of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.45 per share, and up from $0.42 per share a year ago, representing an earnings surprise of +13.33% [1] - The company posted revenues of $893 million for the quarter ended September 2025, surpassing the Zacks Consensus Estimate by 5.59%, compared to year-ago revenues of $828 million [2] - First Horizon shares have increased approximately 14.3% year-to-date, outperforming the S&P 500's gain of 13% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.45 on revenues of $851.32 million, and for the current fiscal year, it is $1.77 on revenues of $3.34 billion [7] - The estimate revisions trend for First Horizon was favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] Industry Context - The Banks - Southwest industry, to which First Horizon belongs, is currently in the top 25% of over 250 Zacks industries, suggesting a positive outlook for stocks within this sector [8] - Another company in the same industry, BancFirst (BANF), is expected to report quarterly earnings of $1.87 per share, reflecting a year-over-year change of +6.9% [9]

[Executive Summary & Overall Performance](index=1&type=section&id=Executive%20Summary%20%26%20Overall%20Performance) This section provides an overview of First Horizon Corporation's strong third-quarter 2025 financial performance, highlighting key metrics and CEO commentary [Third Quarter 2025 Highlights](index=1&type=section&id=Third%20Quarter%202025%20Highlights) First Horizon Corporation achieved strong third-quarter 2025 results with increased net income available to common shareholders and EPS, both on a GAAP and adjusted basis Third Quarter 2025 Highlights | Metric | 3Q25 | 2Q25 | Change (QoQ) | | :--------------------------------- | :----- | :----- | :------------ | | Net Income Available to Common Shareholders (NIAC) | $254M | $233M | +$21M | | EPS | $0.50 | $0.45 | +$0.05 | | Adjusted NIAC | $263M | $229M | +$34M | | Adjusted EPS | $0.51 | $0.45 | +$0.06 | [CEO Commentary](index=1&type=section&id=CEO%20Commentary) CEO Bryan Jordan emphasized the company's strong performance in a changing environment, driven by its diversified business model, attractive geographic footprint, and robust credit quality - “First Horizon’s diversified business model and attractive geographic footprint position us favorably in an evolving environment. Our continued focus on safety and soundness, profitability, and growth enables us to meet the evolving needs of our clients with tailored solutions, creating meaningful value”[2](index=2&type=chunk) - “Credit quality remains strong, supported by prudent risk management and the dedicated efforts of our associates who maintain high standards of service for our clients and communities. As economic conditions evolve, our adaptability and robust performance, supported by continued investments in technology and community partnerships, enable First Horizon to deliver sustained returns for shareholders and foster long-term growth”[2](index=2&type=chunk) [Quarterly Performance Comparison (3Q25 vs 2Q25)](index=2&type=section&id=Quarterly%20Performance%20Comparison%20%283Q25%20vs%202Q25%29) The third quarter saw growth in net interest income and noninterest income, alongside increased noninterest expenses, higher loan balances, deposit growth, and improved asset quality - Net interest income (FTE) increased by **$33 million** to **$678 million**, with net interest margin rising **15 basis points** to **3.55%**[7](index=7&type=chunk) - Noninterest income increased by **$26 million** to **$215 million**, primarily driven by a **$15 million** increase in fixed income revenue and a **$6 million** increase in mortgage banking income[8](index=8&type=chunk) - Noninterest expense increased by **$59 million** to **$551 million**, mainly due to a **$20 million** contribution to the First Horizon Foundation and increased spending on technology and risk initiatives[9](index=9&type=chunk) - Average loans and leases increased by **$236 million** to **$62.8 billion**, with loan yields rising **14 basis points** to **6.06%**[10](index=10&type=chunk) - Average deposits increased by **$1.2 billion** to **$65.9 billion**, though period-end deposits slightly decreased by **$52 million**[11](index=11&type=chunk) - Provision for credit losses was a **$5 million credit**, compared to a **$30 million expense** in the prior quarter, with net charge-offs decreasing to **$26 million** (**17 basis points**)[12](index=12&type=chunk) - The CET1 ratio remained stable at **11.0%**, consistent with the prior quarter[13](index=13&type=chunk) [Consolidated Financial Results](index=3&type=section&id=Consolidated%20Financial%20Results) This section details First Horizon Corporation's consolidated financial performance, including income statement, balance sheet, and key performance indicators [Summary Results](index=3&type=section&id=Summary%20Results) First Horizon Corporation's 3Q25 summary results show significant improvements in revenue, common stock information, key performance metrics, and asset quality compared to prior periods [Income Statement](index=3&type=section&id=Income%20Statement) Net interest income (FTE) and noninterest income both increased sequentially and year-over-year, driving total revenue growth and a rise in net income available to common shareholders | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 ($) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($) | Change vs. 3Q24 (%) | | :--------------------------------- | :----- | :----- | :----- | :------------------ | :------------------ | :------------------ | :------------------ | | Net interest income (FTE) | $678M | $645M | $631M | $33M | 5% | $46M | 7% | | Noninterest income | $215M | $189M | $200M | $26M | 14% | $15M | 7% | | Total revenue | $889M | $830M | $828M | $60M | 7% | $62M | 7% | | Noninterest expense | $551M | $491M | $511M | $59M | 12% | $39M | 8% | | Provision for credit losses | $(5)M | $30M | $35M | $(35)M | (117)% | $(40)M | (114)% | | Net income available to common shareholders | $254M | $233M | $213M | $21M | 9% | $41M | 19% | [Common Stock Information](index=3&type=section&id=Common%20Stock%20Information) Diluted EPS and adjusted EPS significantly increased sequentially and year-over-year, while diluted shares outstanding decreased | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 ($) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($) | Change vs. 3Q24 (%) | | :----------------- | :----- | :----- | :----- | :------------------ | :------------------ | :------------------ | :------------------ | | EPS | $0.50 | $0.45 | $0.40 | $0.05 | 11% | $0.10 | 25% | | Adjusted EPS | $0.51 | $0.45 | $0.42 | $0.06 | 13% | $0.09 | 21% | | Diluted shares (millions) | 510 | 514 | 538 | (3) | (1)% | (28) | (5)% | [Key Performance Metrics](index=3&type=section&id=Key%20Performance%20Metrics) Net interest margin, return on average assets, and return on average tangible common equity all improved, while the efficiency ratio increased | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 (bp) | Change vs. 3Q24 (bp) | | :--------------------------------- | :----- | :----- | :----- | :------------------- | :------------------- | | Net interest margin | 3.55% | 3.40% | 3.31% | 15 bp | 24 bp | | Efficiency ratio | 61.92% | 59.20% | 61.89% | 272 bp | 3 bp | | Return on average assets | 1.29% | 1.20% | 1.08% | 9 bp | 21 bp | | Return on average tangible common equity (ROTCE) | 14.5% | 13.8% | 12.6% | 64 bp | 189 bp | [Balance Sheet Summary](index=3&type=section&id=Balance%20Sheet%20Summary) Average loans slightly increased, average deposits grew, and average assets remained stable, reflecting minor shifts in the balance sheet | Metric | 3Q25 ($B) | 2Q25 ($B) | 3Q24 ($B) | Change vs. 2Q25 ($B) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($B) | Change vs. 3Q24 (%) | | :--------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Average loans | $62.8 | $62.6 | $62.4 | $0.2 | 0% | $0.4 | 1% | | Average deposits | $65.9 | $64.7 | $66.3 | $1.2 | 2% | $(0.3) | (1)% | | Average assets | $82.0 | $82.0 | $82.4 | $0.1 | 0% | $(0.3) | 0% | [Asset Quality Highlights](index=3&type=section&id=Asset%20Quality%20Highlights) The allowance for credit losses to loans and leases ratio decreased, while the nonperforming loan and leases ratio slightly increased, and net charge-offs declined | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 (bp) | Change vs. 3Q24 (bp) | | :----------------------------------------- | :----- | :----- | :----- | :------------------- | :------------------- | | Allowance for credit losses to loans and leases | 1.38% | 1.42% | 1.44% | (4) bp | (6) bp | | Nonperforming loan and leases ratio | 0.96% | 0.94% | 0.92% | 2 bp | 4 bp | | Net charge-off ratio | 0.17% | 0.22% | 0.15% | (5) bp | 2 bp | | Net charge-offs ($M) | $26 | $34 | $24 | $(7) | $2 | [Capital Ratio Highlights](index=3&type=section&id=Capital%20Ratio%20Highlights) The Common Equity Tier 1 ratio remained stable, while Tier 1 and Total Capital ratios experienced slight sequential decreases | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 (bp) | Change vs. 3Q24 (bp) | | :----------------- | :----- | :----- | :----- | :------------------- | :------------------- | | Common Equity Tier 1 | 11.0% | 11.0% | 11.2% | (2) bp | (26) bp | | Tier 1 | 11.9% | 12.0% | 12.2% | (13) bp | (37) bp | | Total Capital | 13.8% | 14.0% | 14.2% | (17) bp | (46) bp | [Consolidated Income Statement](index=7&type=section&id=Consolidated%20Income%20Statement) The consolidated income statement shows strong sequential growth in net interest income and noninterest income, leading to a 7% increase in total revenue and a 9% rise in net income available to common shareholders | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Interest income - taxable equivalent | $1,081 | $1,047 | $1,123 | $34 | 3% | $(42) | (4)% | | Interest expense - taxable equivalent | $403 | $403 | $491 | $1 | 0% | $(88) | (18)% | | Net interest income - taxable equivalent | $678 | $645 | $631 | $33 | 5% | $46 | 7% | | Total noninterest income | $215 | $189 | $200 | $26 | 14% | $15 | 7% | | Total revenue | $889 | $830 | $828 | $60 | 7% | $62 | 7% | | Total noninterest expense | $551 | $491 | $511 | $59 | 12% | $39 | 8% | | Provision for credit losses | $(5) | $30 | $35 | $(35) | (117)% | $(40) | (114)% | | Net income available to common shareholders | $254 | $233 | $213 | $21 | 9% | $41 | 19% | | Diluted EPS | $0.50 | $0.45 | $0.40 | $0.05 | 11% | $0.10 | 25% | [Adjusted Financial Data](index=8&type=section&id=Adjusted%20Financial%20Data) Adjusted financial data for 3Q25 reveals robust sequential growth in adjusted net interest income and noninterest income, driving a 7% increase in adjusted total revenue (FTE) and a 15% rise in adjusted net income available to common shareholders | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Net interest income (FTE) | $678 | $645 | $631 | $33 | 5% | $46 | 7% | | Adjusted total noninterest income | $215 | $189 | $200 | $26 | 14% | $15 | 7% | | Total revenue (FTE) | $893 | $833 | $832 | $60 | 7% | $61 | 7% | | Adjusted total noninterest expense | $542 | $495 | $497 | $47 | 9% | $45 | 9% | | Adjusted pre-provision net revenue | $351 | $338 | $335 | $13 | 4% | $16 | 5% | | Adjusted net income available to common shareholders | $263 | $229 | $224 | $33 | 15% | $38 | 17% | | Adjusted diluted EPS | $0.51 | $0.45 | $0.42 | $0.06 | 13% | $0.09 | 21% | | Adjusted ROTCE | 15.0% | 13.6% | 13.2% | 135 bp | 176 bp | | Adjusted efficiency ratio | 60.8% | 59.5% | 59.9% | 129 bp | 90 bp | [Notable Items Analysis](index=1&type=section&id=Notable%20Items%20Analysis) This section analyzes the impact of notable items on First Horizon's financial results, including specific pre-tax and after-tax adjustments [Summary of Notable Items](index=1&type=section&id=Summary%20of%20Notable%20Items) First Horizon reported a pre-tax notable item of negative $8 million in 3Q25, primarily due to a Visa derivative valuation expense, partially offset by an FDIC special assessment credit Summary of Notable Items | Notable Item (Pre-tax) | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :--------------------------------- | :-------- | :-------- | :-------- | | Deferred compensation adjustment | $0 | $4 | $0 | | FDIC special assessment | $2 | $1 | $2 | | Other notable expenses | $(10) | $0 | $(17) | | **Total notable items (pre-tax)** | **$(8)** | **$4** | **$(14)** | | Preferred Stock Dividend | $(3) | $0 | $0 | | **Total notable items (after-tax)** | **$(9)** | **$3** | **$(11)** | - Third quarter pre-tax notable items included a **$2 million credit** for the FDIC special assessment and a **$10 million impact** related to Visa derivative valuation expense[5](index=5&type=chunk) - Third quarter after-tax notable items included a **$3 million deemed dividend** from the redemption of **$80 million** par value Series B Preferred Stock[5](index=5&type=chunk) [Impact of Notable Items](index=9&type=section&id=Impact%20of%20Notable%20Items) In 3Q25, notable items had an $8 million positive impact on income before income taxes, mainly from noninterest expense adjustments, and a $9 million positive impact on net income available to common shareholders Impact of Notable Items | Impact of Notable Items | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :--------------------------------- | :-------- | :-------- | :-------- | | Total noninterest income | $0 | $0 | $0 | | Total noninterest expense | $(8) | $4 | $(14) | | Income before income taxes | $8 | $(4) | $14 | | Provision for income taxes | $2 | $(1) | $4 | | Preferred stock dividends | $(3) | $0 | $0 | | Net income/(loss) available to common shareholders | $9 | $(3) | $11 | | EPS impact of notable items | $0.01 | $0.00 | $0.02 | [Detailed Financial Statements & Ratios](index=10&type=section&id=Detailed%20Financial%20Statements%20%26%20Ratios) This section provides a comprehensive breakdown of First Horizon's consolidated financial ratios, period-end and average balance sheets, net interest income, and asset quality metrics [Consolidated Financial Ratios](index=10&type=section&id=Consolidated%20Financial%20Ratios) First Horizon's 3Q25 financial ratios show improved profitability metrics like net interest margin and ROTCE, stable capital ratios, and mixed asset quality trends with lower allowance for credit losses but slightly higher nonperforming loans Consolidated Financial Ratios | Metric | 3Q25 | 2Q25 | 3Q24 | Change vs. 2Q25 (bp) | Change vs. 3Q24 (bp) | | :--------------------------------- | :----- | :----- | :----- | :------------------- | :------------------- | | Net interest margin | 3.55% | 3.40% | 3.31% | 15 bp | 24 bp | | Return on average assets | 1.29% | 1.20% | 1.08% | 9 bp | 21 bp | | Return on average common equity ("ROCE") | 11.74% | 11.14% | 10.10% | 60 bp | 164 bp | | Return on average tangible common equity ("ROTCE") | 14.49% | 13.85% | 12.60% | 64 bp | 189 bp | | Efficiency ratio | 61.92% | 59.20% | 61.89% | 272 bp | 3 bp | | Allowance for credit losses to loans and leases | 1.38% | 1.42% | 1.44% | (4) bp | (6) bp | | Nonperforming loan and leases ratio | 0.96% | 0.94% | 0.92% | 2 bp | 4 bp | | Net charge-off ratio | 0.17% | 0.22% | 0.15% | (5) bp | 2 bp | | CET1 capital ratio | 11.0% | 11.0% | 11.2% | (2) bp | (26) bp | | Tangible common equity/tangible assets ("TCE/TA") | 8.55% | 8.58% | 8.56% | (3) bp | (1) bp | | Book value per common share | $17.19 | $16.78 | $16.15 | $0.41 | $1.04 | | Tangible book value per common share | $13.94 | $13.57 | $13.02 | $0.37 | $0.92 | | Loans-to-deposit ratio (period-end) | 96.23% | 96.47% | 93.80% | (23) bp | 244 bp | | Full-time equivalent associates | 7,341 | 7,255 | 7,186 | 86 | 155 | [Consolidated Period-End Balance Sheet](index=11&type=section&id=Consolidated%20Period-End%20Balance%20Sheet) Total assets increased sequentially by $1.11 billion to $83.19 billion at 3Q25 end, with a slight decrease in loans and leases and a significant increase in trading securities Consolidated Period-End Balance Sheet | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Total assets | $83,192 | $82,084 | $82,635 | $1,109 | 1% | $558 | 1% | | Loans and leases, net of unearned income | $63,058 | $63,260 | $62,445 | $(202) | 0% | $612 | 1% | | Trading securities | $2,070 | $1,430 | $1,549 | $640 | 45% | $521 | 34% | | Total interest earning assets | $76,963 | $75,893 | $76,311 | $1,070 | 1% | $652 | 1% | | Total deposits | $65,525 | $65,576 | $66,575 | $(52) | 0% | $(1,050) | (2)% | | Total liabilities | $73,948 | $72,826 | $73,318 | $1,122 | 2% | $630 | 1% | | Total shareholders' equity | $9,244 | $9,257 | $9,316 | $(13) | 0% | $(72) | (1)% | [Consolidated Average Balance Sheet](index=12&type=section&id=Consolidated%20Average%20Balance%20Sheet) Average total assets slightly increased by $91 million, with average loans and leases rising by $236 million, primarily driven by commercial and consumer real estate, and average deposits growing by $1.18 billion Consolidated Average Balance Sheet | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Total assets | $82,049 | $81,958 | $82,366 | $91 | 0% | $(318) | 0% | | Loans and leases, net of unearned income | $62,787 | $62,551 | $62,413 | $236 | 0% | $375 | 1% | | Total interest earning assets | $76,032 | $75,887 | $76,121 | $145 | 0% | $(89) | 0% | | Total deposits | $65,924 | $64,742 | $66,263 | $1,182 | 2% | $(339) | (1)% | | Total liabilities | $72,825 | $72,861 | $73,238 | $(36) | 0% | $(413) | (1)% | | Total shareholders' equity | $9,224 | $9,097 | $9,128 | $126 | 1% | $95 | 1% | [Consolidated Net Interest Income and Yields/Rates](index=14&type=section&id=Consolidated%20Net%20Interest%20Income%20and%20Yields%2FReates) Net interest income (FTE) increased sequentially by $33 million (5%) to $678 million, primarily driven by a 14 basis point rise in total loan yield to 6.06% Consolidated Net Interest Income and Yields/Rates | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Interest income | $1,081 | $1,047 | $1,123 | $34 | 3% | $(42) | (4)% | | Interest expense | $403 | $403 | $491 | $1 | 0% | $(88) | (18)% | | Net interest income - tax equivalent | $678 | $645 | $631 | $33 | 5% | $46 | 7% | | Total loan yield | 6.06% | 5.92% | 6.37% | 14 bp | (31) bp | | Total interest bearing deposits cost | 2.78% | 2.76% | 3.44% | 2 bp | (66) bp | | Net interest margin | 3.55% | 3.40% | 3.31% | 15 bp | 24 bp | [Consolidated Nonperforming Loans and Leases (NPL)](index=16&type=section&id=Consolidated%20Nonperforming%20Loans%20and%20Leases%20%28NPL%29) Total nonperforming loans and leases increased sequentially by $13 million (2%) to $605 million, mainly driven by commercial real estate NPLs, while commercial and industrial NPLs decreased Consolidated Nonperforming Loans and Leases (NPL) | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Commercial, financial, and industrial (C&I) NPL | $211 | $224 | $190 | $(14) | (6)% | $21 | 11% | | Commercial real estate NPL | $254 | $236 | $259 | $18 | 8% | $(4) | (2)% | | Total nonperforming loans and leases | $605 | $593 | $578 | $13 | 2% | $28 | 5% | | Total nonperforming loans and leases to loans and leases | 0.96% | 0.94% | 0.92% | 2 bp | 4 bp | [Consolidated Loans and Leases 90+ Days Past Due](index=16&type=section&id=Consolidated%20Loans%20and%20Leases%2090%2B%20Days%20Past%20Due) Total loans and leases 90 days or more past due and still accruing remained stable sequentially at $9 million, while significantly decreasing year-over-year by $8 million (49%) Consolidated Loans and Leases 90+ Days Past Due | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Commercial, financial, and industrial (C&I) | $1 | $1 | $1 | $0 | 2% | $0 | 16% | | Consumer real estate | $6 | $6 | $13 | $0 | (5)% | $(7) | (55)% | | Total loans and leases 90+ days past due and accruing | $9 | $8 | $17 | $0 | 5% | $(8) | (49)% | [Consolidated Net Charge-offs (Recoveries)](index=17&type=section&id=Consolidated%20Net%20Charge-offs%20%28Recoveries%29) Total net charge-offs decreased sequentially by $7 million (22%) to $26 million, with the net charge-off rate falling to 0.17%, primarily due to reduced commercial real estate net charge-offs Consolidated Net Charge-offs (Recoveries) | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Total gross charge-offs | $36 | $43 | $33 | $(7) | (17)% | $2 | 7% | | Total gross recoveries | $(9) | $(9) | $(9) | $0 | 0% | $0 | 0% | | Total net charge-offs | $26 | $34 | $24 | $(7) | (22)% | $2 | 10% | | Total loans and leases (annualized net charge-off rate) | 0.17% | 0.22% | 0.15% | (5) bp | 2 bp | [Consolidated Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments](index=18&type=section&id=Consolidated%20Allowance%20for%20Loan%20and%20Lease%20Losses%20and%20Reserve%20for%20Unfunded%20Commitments) The allowance for loan and lease losses (ALLL) decreased sequentially by $37 million (5%) to $777 million, and total allowance for credit losses (ACL) decreased by $31 million (3%) to $870 million Consolidated Allowance for Loan and Lease Losses and Reserve for Unfunded Commitments | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Allowance for loan and lease losses - beginning | $814 | $822 | $821 | $(8) | (1)% | $(7) | (1)% | | Total charge-offs | $(36) | $(43) | $(33) | $7 | 17% | $(2) | (7)% | | Total recoveries | $9 | $9 | $9 | $0 | 0% | $0 | 0% | | Total provision for loan and lease losses | $(11) | $26 | $26 | $(37) | NM | $(37) | NM | | Allowance for loan and lease losses - ending | $777 | $814 | $823 | $(37) | (5)% | $(46) | (6)% | | Reserve for unfunded commitments - ending | $93 | $87 | $75 | $6 | 7% | $18 | 24% | | Total allowance for credit losses - ending | $870 | $901 | $897 | $(31) | (3)% | $(28) | (3)% | [Consolidated Asset Quality Ratios - Allowance](index=19&type=section&id=Consolidated%20Asset%20Quality%20Ratios%20-%20Allowance) The total allowance for credit losses to loans and leases ratio decreased sequentially by 4 basis points to 1.38%, and the total allowance for credit losses to nonperforming loans and leases ratio also declined by 8 basis points to 144% Consolidated Asset Quality Ratios - Allowance | Metric | 3Q25 | 2Q25 | 3Q24 | | :------------------------------------------------- | :----- | :----- | :----- | | Allowance for loans and lease losses to loans and leases | 1.23% | 1.29% | 1.32% | | Allowance for loans and lease losses to nonperforming loans and leases | 128% | 137% | 142% | | Total allowance for credit losses to loans and leases | 1.38% | 1.42% | 1.44% | | Total allowance for credit losses to nonperforming loans and leases | 144% | 152% | 155% | [Segment Performance](index=20&type=section&id=Segment%20Performance) This section provides a detailed breakdown of the financial performance for First Horizon's Commercial, Consumer, and Wealth, Wholesale, and Corporate segments [Commercial, Consumer, and Wealth Segment](index=20&type=section&id=Commercial%2C%20Consumer%2C%20and%20Wealth%20Segment) This segment, offering traditional lending, deposits, and wealth management in the Southern U.S., saw net interest income and total revenue grow by 4% sequentially, with net income rising 8% to $312 million - The Commercial, Consumer, and Wealth segment provides financial products and services, including traditional lending and deposit gathering businesses, primarily to commercial and consumer clients in the Southern U.S. and other selected markets, also offering investment, wealth management, financial planning, trust, and asset management services[57](index=57&type=chunk)[85](index=85&type=chunk) Commercial, Consumer, and Wealth Segment Performance | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Net interest income | $660 | $634 | $634 | $26 | 4% | $26 | 4% | | Noninterest income | $117 | $113 | $119 | $3 | 3% | $(2) | (2)% | | Total revenue | $777 | $747 | $754 | $30 | 4% | $23 | 3% | | Net income | $312 | $289 | $274 | $23 | 8% | $38 | 14% | | Return on average assets (annualized) | 2.10% | 1.98% | 1.83% | 12 bp | 27 bp | | Return on allocated equity | 25.14% | 23.03% | 21.59% | 211 bp | 355 bp | [Wholesale Segment](index=21&type=section&id=Wholesale%20Segment) The Wholesale segment, focusing on specialized lending and fixed income services, reported a 6% sequential increase in net interest income and a 21% rise in total revenue, with net income surging 75% to $39 million - The Wholesale segment consists of product and service business lines offering differentiated industry expertise, including mortgage warehouse lending, franchise finance, correspondent banking, and mortgage, also focusing on fixed income securities sales, trading, underwriting, and strategy, as well as loan sales, portfolio advisory services, and derivatives sales to institutional clients in the U.S. and abroad[60](index=60&type=chunk)[86](index=86&type=chunk) Wholesale Segment Performance | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Net interest income | $60 | $57 | $52 | $3 | 6% | $9 | 17% | | Noninterest income | $74 | $53 | $57 | $20 | 38% | $17 | 31% | | Total revenue | $134 | $111 | $108 | $24 | 21% | $26 | 24% | | Net income | $39 | $22 | $30 | $17 | 75% | $9 | 29% | | Fixed income product average daily revenue (thousands) | $771 | $550 | $593 | $221 | 40% | $178 | 30% | | Return on average assets (annualized) | 1.66% | 0.96% | 1.43% | 70 bp | 24 bp | | Return on allocated equity | 27.16% | 15.96% | 21.36% | 1,120 bp | 580 bp | [Corporate Segment](index=22&type=section&id=Corporate%20Segment) The Corporate segment, encompassing corporate support functions and centralized capital management, reported a net loss of $85 million in 3Q25, an increase from the $67 million loss in 2Q25, driven by a significant rise in noninterest expense - The Corporate segment primarily includes corporate support functions such as risk management, audit, accounting, treasury, executive offices, and corporate communications, along with centralized management of capital and funding, and revenues and expenses from discontinued operations like pre-2009 mortgage banking elements, terminated consumer and trust preferred loan portfolios, and other exited businesses[63](index=63&type=chunk)[87](index=87&type=chunk) Corporate Segment Performance | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | Change vs. 3Q24 ($M) | Change vs. 3Q24 (%) | | :--------------------------------- | :-------- | :-------- | :-------- | :------------------- | :------------------- | :------------------- | :------------------- | | Net interest income/(expense) | $(46) | $(50) | $(59) | $4 | 7% | $12 | 21% | | Noninterest income | $25 | $22 | $25 | $3 | 12% | $0 | 0% | | Total revenues | $(22) | $(28) | $(34) | $6 | 23% | $12 | 37% | | Noninterest expense | $102 | $61 | $84 | $41 | 67% | $18 | 21% | | Net income/(loss) | $(85) | $(67) | $(81) | $(18) | (27)% | $(4) | (5)% | [Non-GAAP Reconciliations & Disclosures](index=5&type=section&id=Non-GAAP%20Reconciliations%20%26%20Disclosures) This section provides reconciliations and disclosures for non-GAAP financial measures, explaining their use and relationship to GAAP and regulatory metrics [Use of Non-GAAP and Regulatory Measures](index=5&type=section&id=Use%20of%20Non-GAAP%20and%20Regulatory%20Measures) This section clarifies the use of non-GAAP financial measures, such as fully taxable equivalent metrics and adjusted performance, which management deems relevant for understanding financial condition, distinguishing them from regulatory measures - Non-GAAP measures are used by management to understand financial condition, capital position, and financial performance, despite not conforming to U.S. Generally Accepted Accounting Principles (GAAP)[19](index=19&type=chunk) - Non-GAAP measures include fully taxable equivalent metrics, pre-provision net revenue (PPNR), return on average tangible common equity (ROTCE), tangible common equity (TCE) to tangible assets (TA) ratio, tangible book value per common share (TBV), and various consolidated and segment results and performance metrics adjusted for notable items[20](index=20&type=chunk) - Regulatory measures, such as Common Equity Tier 1 (CET1), Tier 1 Capital, and risk-weighted assets, are not considered “non-GAAP” measures under U.S. financial reporting rules as long as they comply with regulatory standards, providing a meaningful basis for comparison with other similarly regulated financial institutions[21](index=21&type=chunk) [Tangible Common Equity Reconciliation](index=23&type=section&id=Tangible%20Common%20Equity%20Reconciliation) The reconciliation shows tangible common equity (non-GAAP) of $6.98 billion and tangible book value per share of $13.94 for 3Q25, with a tangible common equity to tangible assets ratio (TCE/TA) of 8.55% Tangible Common Equity Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :----------------------------------------- | :-------- | :-------- | :-------- | | Total equity (GAAP) | $9,244 | $9,257 | $9,316 | | Total common equity | $8,600 | $8,536 | $8,595 | | Intangible assets (GAAP) | $1,624 | $1,633 | $1,663 | | Tangible common equity (Non-GAAP) | $6,976 | $6,903 | $6,931 | | Total assets (GAAP) | $83,192 | $82,084 | $82,635 | | Tangible assets (Non-GAAP) | $81,568 | $80,451 | $80,971 | | Tangible common equity to tangible assets ("TCE/TA") | 8.55% | 8.58% | 8.56% | | Book value per common share (GAAP) | $17.19 | $16.78 | $16.15 | | Tangible book value per common share (Non-GAAP) | $13.94 | $13.57 | $13.02 | [Adjusted EPS, Net Income, and ROA Reconciliation](index=24&type=section&id=Adjusted%20EPS%2C%20Net%20Income%2C%20and%20ROA%20Reconciliation) For 3Q25, adjusted diluted EPS was $0.51 compared to GAAP EPS of $0.50, with adjusted net income at $272 million and adjusted return on assets at 1.32% Adjusted EPS, Net Income, and ROA Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :----------------------------------------- | :-------- | :-------- | :-------- | | Net income available to common shareholders ("NIAC") (GAAP) | $254 | $233 | $213 | | Plus Total notable items (after-tax) (Non-GAAP) | $9 | $(3) | $11 | | Adjusted net income available to common shareholders (Non-GAAP) | $263 | $229 | $224 | | Diluted EPS (GAAP) | $0.50 | $0.45 | $0.40 | | Adjusted diluted EPS (Non-GAAP) | $0.51 | $0.45 | $0.42 | | Net Income ("NI") (GAAP) | $266 | $244 | $223 | | Plus Relevant notable items (after-tax) (Non-GAAP) | $6 | $(3) | $11 | | Adjusted NI (Non-GAAP) | $272 | $241 | $234 | | ROA (GAAP) | 1.29% | 1.20% | 1.08% | | Adjusted ROA (Non-GAAP) | 1.32% | 1.18% | 1.13% | [ROCE, ROTCE, and Adjusted ROTCE Reconciliation](index=24&type=section&id=ROCE%2C%20ROTCE%2C%20and%20Adjusted%20ROTCE%20Reconciliation) The reconciliation shows GAAP return on common equity (ROCE) at 11.74% and non-GAAP return on tangible common equity (ROTCE) at 14.49% for 3Q25, with adjusted ROTCE at 15.00% reflecting notable items ROCE, ROTCE, and Adjusted ROTCE Reconciliation | Metric | 3Q25 | 2Q25 | 3Q24 | | :------------------------------------------------- | :----- | :----- | :----- | | Net income available to common shareholders ("NIAC") (annualized) (GAAP) | $1,007M | $933M | $849M | | Adjusted Net income available to common shareholders (annualized) (Non-GAAP) | $1,042M | $919M | $892M | | Average Common Equity (GAAP) | $8,579M | $8,376M | $8,407M | | Average Tangible Common Equity (Non-GAAP) | $6,950M | $6,738M | $6,738M | | ROCE (GAAP) | 11.74% | 11.14% | 10.10% | | ROTCE (Non-GAAP) | 14.49% | 13.85% | 12.60% | | Adjusted ROTCE (Non-GAAP) | 15.00% | 13.65% | 13.24% | [Adjusted Noninterest Income as a % of Total Revenue Reconciliation](index=25&type=section&id=Adjusted%20Noninterest%20Income%20as%20a%20%25%20of%20Total%20Revenue%20Reconciliation) For 3Q25, adjusted noninterest income as a percentage of total revenue (non-GAAP) was 24.07%, slightly lower than the GAAP noninterest income percentage of 24.16% Adjusted Noninterest Income as a % of Total Revenue Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :------------------------------------------------- | :-------- | :-------- | :-------- | | Noninterest income (GAAP) | $215 | $189 | $200 | | Adjusted noninterest income (Non-GAAP) | $215 | $189 | $200 | | Revenue (GAAP) | $889 | $830 | $828 | | Adjusted revenue (Non-GAAP) | $893 | $833 | $832 | | Noninterest income as a % of total revenue (GAAP) | 24.16% | 22.73% | 24.06% | | Adjusted noninterest income as a % of total revenue (Non-GAAP) | 24.07% | 22.63% | 23.95% | [Adjusted Efficiency Ratio Reconciliation](index=25&type=section&id=Adjusted%20Efficiency%20Ratio%20Reconciliation) The adjusted efficiency ratio (non-GAAP) for 3Q25 was 60.76%, an increase from 59.47% in 2Q25, but lower than the GAAP efficiency ratio of 61.92% Adjusted Efficiency Ratio Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :------------------------------------------------- | :-------- | :-------- | :-------- | | Noninterest expense (GAAP) | $551 | $491 | $511 | | Plus notable items (pretax) (GAAP) | $(8) | $4 | $(14) | | Adjusted noninterest expense (Non-GAAP) | $542 | $495 | $497 | | Revenue (GAAP) | $889 | $830 | $828 | | Adjusted revenue (Non-GAAP) | $893 | $833 | $832 | | Efficiency ratio (GAAP) | 61.92% | 59.20% | 61.98% | | Adjusted efficiency ratio (Non-GAAP) | 60.76% | 59.47% | 59.86% | [Loans Excluding LMC Reconciliation](index=26&type=section&id=Loans%20Excluding%20LMC%20Reconciliation) Total loans excluding Loan Mortgage Company (LMC) loans were $59.13 billion at 3Q25 end, a slight sequential decrease of $70 million, while average total loans excluding LMC increased by $140 million to $59.16 billion Loans Excluding LMC Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | Change vs. 2Q25 ($M) | Change vs. 2Q25 (%) | | :--------------------------------- | :-------- | :-------- | :------------------- | :------------------- | | Total Loans (GAAP) (Period-end) | $63,058 | $63,260 | $(202) | 0% | | LMC (GAAP) (Period-end) | $3,926 | $4,058 | $(132) | (3)% | | Total Loans excl. LMC (Non-GAAP) (Period-end) | $59,131 | $59,201 | $(70) | 0% | | Total Loans (GAAP) (Average) | $62,787 | $62,551 | $236 | 0% | | LMC (GAAP) (Average) | $3,628 | $3,533 | $96 | 3% | | Total Loans excl. LMC (Non-GAAP) (Average) | $59,159 | $59,019 | $140 | 0% | [Allowance for Credit Losses Ratios Reconciliation](index=26&type=section&id=Allowance%20for%20Credit%20Losses%20Ratios%20Reconciliation) For 3Q25, the total allowance for credit losses (non-GAAP) to loans and leases ratio was 1.38%, and to nonperforming loans and leases was 144% Allowance for Credit Losses Ratios Reconciliation | Metric | 3Q25 | 2Q25 | 3Q24 | | :------------------------------------------------- | :----- | :----- | :----- | | Allowance for loan and lease losses (GAAP) | $777M | $814M | $823M | | Reserve for unfunded commitments (GAAP) | $93M | $87M | $75M | | Allowance for credit losses (Non-GAAP) | $870M | $901M | $897M | | Loans and leases (GAAP) | $63,058M | $63,260M | $62,445M | | Nonaccrual loans and leases (GAAP) | $605M | $593M | $578M | | Allowance for credit losses to loans and leases (Non-GAAP) | 1.38% | 1.42% | 1.44% | | Allowance for credit losses to nonperforming loans and leases (Non-GAAP) | 144% | 152% | 155% | [Adjusted Pre-provision Net Revenue (PPNR) Reconciliation](index=27&type=section&id=Adjusted%20Pre-provision%20Net%20Revenue%20%28PPNR%29%20Reconciliation) Adjusted pre-provision net revenue (PPNR) (non-GAAP) for 3Q25 was $347 million, an increase from $334 million in 2Q25, with taxable-equivalent PPNR at $351 million Adjusted Pre-provision Net Revenue (PPNR) Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :----------------------------------------- | :-------- | :-------- | :-------- | | Pre-tax income (GAAP) | $344 | $309 | $281 | | Plus notable items (pretax) (GAAP) | $8 | $(4) | $14 | | Adjusted Pre-tax income (non-GAAP) | $352 | $304 | $296 | | Plus provision expense (GAAP) | $(5) | $30 | $35 | | Adjusted Pre-provision net revenue (PPNR) (non-GAAP) | $347 | $334 | $331 | | Pre-provision net revenue-Taxable-equivalent (Non-GAAP) | $351 | $338 | $334 | [Adjusted Personnel Expense Excluding Deferred Compensation Expense Reconciliation](index=27&type=section&id=Adjusted%20Personnel%20Expense%20Excluding%20Deferred%20Compensation%20Expense%20Reconciliation) Adjusted personnel expense excluding deferred compensation expense (non-GAAP) for 3Q25 was $288 million, a slight increase from $279 million in 2Q25 Adjusted Personnel Expense Excluding Deferred Compensation Expense Reconciliation | Metric | 3Q25 ($M) | 2Q25 ($M) | 3Q24 ($M) | | :------------------------------------------------- | :-------- | :-------- | :-------- | | Personnel expense (GAAP) | $296 | $282 | $282 | | Plus notable items (pretax) (GAAP) | $0 | $4 | $(1) | | Adjusted personnel expense (non-GAAP) | $296 | $286 | $281 | | Less adjusted deferred compensation expense (GAAP) | $8 | $7 | $6 | | Adjusted personnel expense excluding deferred compensation expense (non-GAAP) | $288 | $279 | $275 | [General Information & Disclosures](index=5&type=section&id=General%20Information%20%26%20Disclosures) This section provides important general information and disclosures, including forward-looking statements, conference call details, company overview, and contact information [Forward-Looking Statements](index=5&type=section&id=Forward-Looking%20Statements) This section contains forward-looking statements subject to significant business, operational, economic, and competitive uncertainties and contingencies, with actual results potentially differing materially from expectations - Forward-looking statements are not historical information but rather statements about future operations, strategies, financial results, or other developments, inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies beyond FHN’s control[17](index=17&type=chunk) - FHN undertakes no obligation to update or revise any forward-looking statements, and actual results may differ materially due to one or more factors, including those listed in this document or the documents referenced above, as well as other unlisted factors[17](index=17&type=chunk) [Conference Call Information](index=6&type=section&id=Conference%20Call%20Information) First Horizon Corporation held a conference call on October 15, 2025, at 8:30 AM CT to discuss third-quarter results, with replay options available until October 29, 2025 - The third quarter 2025 earnings conference call was held on October 15, 2025, at 8:30 AM CT[23](index=23&type=chunk) - A replay of the conference call is available from noon CT on October 15 through midnight CT on October 29, 2025, via telephone (U.S. dial 1-866-813-9403, access code 101579) and webcast[24](index=24&type=chunk) [About First Horizon Corporation](index=6&type=section&id=About%20First%20Horizon%20Corporation) First Horizon Corporation (NYSE: FHN) is a leading regional financial services company with $83.2 billion in assets as of September 30, 2025, headquartered in Memphis, Tennessee - First Horizon Corporation (NYSE: FHN) had **$83.2 billion in assets** as of September 30, 2025[25](index=25&type=chunk) - Headquartered in Memphis, Tennessee, its banking subsidiary, First Horizon Bank, operates in 12 states across the Southern U.S., offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services[25](index=25&type=chunk) - First Horizon has been recognized as one of the best employers in the U.S. by Fortune and Forbes magazines and as a Top 10 Most Admired Bank in America[25](index=25&type=chunk) [Contact Information](index=6&type=section&id=Contact%20Information) Investor relations contact is Tyler Craft, and media relations contact is Beth Ardoin - Investor Relations: Tyler Craft - Tyler.Craft@firsthorizon.com[26](index=26&type=chunk) - Media Relations: Beth Ardoin - Beth.Ardoin@firsthorizon.com[26](index=26&type=chunk) [Footnotes & Glossary](index=22&type=section&id=Footnotes%20%26%20Glossary) This section provides detailed footnotes clarifying financial terms, calculations, and reclassifications, along with a glossary defining key financial and operational terms used in the report [Footnotes](index=22&type=section&id=Footnotes) This section offers detailed footnotes clarifying specific financial terms, calculation methodologies, and reclassifications used in the report, including definitions and reconciliations for non-GAAP measures - Footnotes provide disclosures for various financial data, including taxable equivalent interest income, occupancy and equipment expense, pre-provision net revenue, non-GAAP measures, credit card balances, net interest margin calculations, segment equity allocations, and share count impacts[65](index=65&type=chunk) [Glossary of Terms](index=28&type=section&id=Glossary%20of%20Terms) The glossary defines key financial and operational terms used in the report, encompassing regulatory capital ratios, key performance ratios, asset quality ratios, and descriptions of operating segments - Definitions of key financial ratios are provided, such as Return on Average Assets, Return on Average Common Equity, Return on Average Tangible Common Equity, Noninterest Income as a % of Total Revenue, and Efficiency Ratio[81](index=81&type=chunk)[82](index=82&type=chunk) - Asset quality ratios are defined, including Nonperforming Loans and Leases (NPL) %, Net Charge-off Rate, Allowance for Credit Losses/Loans and Leases, and Allowance for Credit Losses/NPL[83](index=83&type=chunk)[84](index=84&type=chunk) - Descriptions of operating segments (Commercial, Consumer, and Wealth; Wholesale; and Corporate) are included[85](index=85&type=chunk)[86](index=86&type=chunk)[87](index=87&type=chunk)

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Core Insights - First Horizon Corporation reported a net income available to common shareholders of $254 million for Q3 2025, translating to an earnings per share (EPS) of $0.50, which is an increase of $0.05 from the previous quarter [1] - Adjusted net income for Q3 2025 was $263 million or $0.51 per share, up $0.06 from Q2 2025 [1] - The company emphasized its diversified business model and strong credit quality, attributing its performance to prudent risk management and ongoing investments in technology and community partnerships [2] Financial Performance - Q3 2025 net income available to common shareholders was $254 million, compared to $233 million in Q2 2025 [1] - The adjusted net income for Q3 2025 was $263 million, up from $229 million in Q2 2025 [1] - The EPS for Q3 2025 was $0.50, an increase from $0.45 in the prior quarter [1] Management Commentary - The CEO highlighted the company's disciplined execution of strategy and adaptability to changing economic conditions [2] - The focus on safety, soundness, profitability, and growth was reiterated as key to meeting clients' evolving needs [2] - The management expressed confidence in delivering consistent returns and fostering long-term growth for shareholders [2] Company Overview - First Horizon Corporation, headquartered in Memphis, TN, has $83.2 billion in assets as of September 30, 2025 [12] - The company operates in 12 states, primarily in the southern U.S., offering a range of financial services including commercial, private banking, and wealth management [12] - First Horizon has been recognized as one of the nation's best employers and a top reputable U.S. bank [12]

First Horizon Corporation (NYSE:FHN) will release earnings results for the third quarter, before the opening bell on Wednesday, Oct. 15.Analysts expect the Memphis, Tennessee-based company to report quarterly earnings at 45 cents per share, up from 42 cents per share in the year-ago period. First Horizon projects quarterly revenue of $847.99 million, compared to $832 million a year earlier, according to data from Benzinga Pro.On Aug. 15, First Horizon announced that Shaun McDougall has joined the organizati ...

Earnings Results - First Horizon Corporation is set to release its third-quarter earnings results on October 15, with analysts expecting earnings of 45 cents per share, an increase from 42 cents per share in the same period last year [1] - The projected quarterly revenue is $847.99 million, compared to $832 million a year earlier [1] Management Changes - On August 15, First Horizon announced the appointment of Shaun McDougall as Head of Consumer Banking [2] Stock Performance - First Horizon shares closed at $22.45, reflecting a gain of 0.9% [2] Analyst Ratings - Barclays analyst Jared Shaw maintained an Overweight rating and raised the price target from $26 to $29 [4] - Evercore ISI Group analyst John Pancari maintained an Outperform rating and increased the price target from $25 to $26 [4] - Wells Fargo analyst Timur Braziler maintained an Equal-Weight rating and raised the price target from $23 to $25 [4] - DA Davidson analyst Peter Winter initiated coverage with a Neutral rating and a price target of $24 [4] - Truist Securities analyst John McDonald maintained a Hold rating and increased the price target from $23 to $24 [4]

Core Viewpoint - Investors should closely monitor First Horizon Corporation (FHN) stock due to significant movements in the options market, particularly the high implied volatility of the Jan 16, 2026 $3 Put option [1] Group 1: Implied Volatility - Implied volatility indicates the market's expectation of future stock movement, with high levels suggesting potential for a significant price change or an upcoming event that could trigger a rally or sell-off [2] - The current high implied volatility for First Horizon options suggests that traders anticipate a notable price movement [4] Group 2: Analyst Sentiment - First Horizon holds a Zacks Rank 2 (Buy) in the Banks - Southwest industry, which is in the top 30% of the Zacks Industry Rank [3] - Over the past 30 days, two analysts have raised their earnings estimates for the current quarter, increasing the Zacks Consensus Estimate from 44 cents to 45 cents per share [3]

Looking into the current session, First Horizon Inc. (NYSE:FHN) shares are trading at $22.40, after a 4.40% decrease. Over the past month, the stock fell by 1.11%, but over the past year, it actually went up by 35.32%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. Evaluating First Horizon P/E in Comparison to Its PeersThe P/E ratio measures the current share price to the comp ...