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First Horizon Rises 2.8% as Strategic Mortgage Sale Points to Better Future Earnings

First Horizon (NYSE: FHN) shares rose about 2.8% after the bank reported a third-quarter net loss but announced a major balance-sheet repositioning designed to improve future earnings and free capacity for loan growth.

The company reported a net loss available to common shareholders of $94 million, or $0.20 per share. However, results included $347 million after tax, or $0.73 per share, of notable items, primarily tied to the reclassification of roughly $4.5 billion of lower-yielding consumer mortgages to held for sale.

Excluding those items, adjusted EPS was $0.53, down slightly from $0.54 in the second quarter but above $0.51 a year earlier.

First Horizon said it entered into an agreement in early October to sell the approximately $4.5 billion mortgage portfolio. Management expects the transaction to close early in the fourth quarter and said the sale should be accretive to earnings going forward by removing lower-yielding assets and creating additional balance-sheet flexibility.

Deposit trends were also constructive, with average client deposits increasing by $1.3 billion during the quarter.

The 2.8% gain appears to reflect investor focus on the forward earnings benefit of the mortgage portfolio sale rather than the reported quarterly loss. The key catalyst is the expectation that redeploying capital away from lower-yielding mortgages can improve profitability and support stronger loan growth over time.

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Author

The Investor 10-15-26

First Horizon Corporation reported third-quarter 2025 net income available to common shareholders of $254 million, or earnings per share (EPS) of $0.50, up from $0.45 in the prior quarter. On an adjusted basis, excluding notable items, net income was $263 million and EPS $0.51, representing sequential growth of $0.06 per share.

Chairman and CEO Bryan Jordan highlighted the company’s strong performance, disciplined execution, and robust credit quality, crediting First Horizon’s diversified business model and regional presence. He emphasized the bank’s focus on safety, profitability, and growth, supported by continued investments in technology and community partnerships, which position the firm for consistent returns and long-term shareholder value.

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Author

The Investor 10-15-25

First Horizon Posts Strong Q2 2025 Results with Higher EPS and Loan Growth

First Horizon Corporation reported second quarter 2025 net income available to common shareholders of $233 million, or $0.45 per share, up from $0.41 in Q1. Adjusted net income was $229 million, also $0.45 per share.

Net interest income rose $10 million to $645 million, supported by loan growth. Average loans and leases increased to $62.6 billion, with period-end balances reaching $63.3 billion. Deposits also grew, aided by brokered deposits funding mortgage lending.
Noninterest income climbed $7 million to $189 million, while noninterest expense rose $3 million to $491 million. Notable items included $5 million in positive adjustments, such as a deferred compensation accrual release.

Asset quality remained stable, with a provision of $30 million and nonperforming loans down $17 million. The CET1 capital ratio improved to 11.0%.

CEO Bryan Jordan credited the strong performance to the company’s disciplined strategy and regional strengths.

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Author

European Investor 07-17-25

First Horizon Corporation Amends Bylaws to Reduce Board Size Following Annual Meeting

First Horizon Corporation announced that its Board of Directors approved an amendment to the company’s bylaws, reducing the number of directors from fourteen to twelve, effective immediately following the 2025 annual meeting of shareholders. The amendment also included a minor typographical correction to the text of Section 3.2 of the bylaws. The change reflects an organizational adjustment aligned with the company's current governance strategy.

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M

ME NEWS 04-30-25

First Horizon Q1 2025 Summary:

- Net income to common shareholders: $213M (up from $158M in Q4)
- EPS: $0.41 (up $0.12); adjusted EPS: $0.42 (down $0.01)
- Net interest income: $634M, flat; margin rose to 3.42% (up 9 bps)
- Noninterest income: $181M (up $82M); adjusted down $9M
- Noninterest expense: $488M (down $21M); adjusted $482M (down $24M)
- Provision for credit losses: $40M (up from $10M)
- Net charge-offs: $29M vs $13M prior
- Loans: $62.2B (down $350M); deposits: $64.2B (down $1.4B)
- CET1 ratio: 10.9% (down 27 bps)
- ROAA: 1.11%, ROTCE: 12.8%, efficiency ratio: 60.1%
- Notable items: $4M after-tax, mainly Visa derivative expense and FDIC fee

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Author

WS News 04-17-25

First Horizon Corporation announced the issuance and sale of $500 million in 5.514% Fixed Rate / Floating Rate Senior Notes due 2031. The sale was conducted under an underwriting agreement dated March 4, 2025, with Morgan Stanley, BofA Securities, Citigroup Global Markets, FHN Financial Securities, and Goldman Sachs. The notes were issued under First Horizon’s existing registration statement and an indenture agreement with The Bank of New York Mellon.

The filing includes key documents such as the underwriting agreement, the second supplemental indenture, an officer’s certificate detailing the terms of the notes, and legal opinions from First Horizon’s general counsel and Sullivan & Cromwell LLP regarding the validity and tax implications of the notes.

The purpose of this filing is to incorporate these documents into First Horizon’s registration statement. The company clarifies that representations and warranties within the underwriting agreement are made only for contractual purposes and should not be relied upon by third parties.

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Author

The Investor 03-09-25

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