First Horizon Corporation Delivers Strong Third Quarter 2025 Results

Net Income Available to Common Shareholders of $254 Million with an EPS of $0.50, a $0.05 Increase from Prior Quarter; $263 Million or $0.51 on an Adjusted Basis, up $0.06 from Prior Quarter*

MEMPHIS, Tenn., Oct. 15, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or "First Horizon") today reported third quarter net income available to common shareholders ("NIAC") of $254 million or earnings per share of $0.50, compared with second quarter 2025 NIAC of $233 million or earnings per share of $0.45. Third quarter 2025 results were decreased by $9 million due to after-tax notable items compared with a $3 million increase in second quarter 2025. Excluding notable items, adjusted third quarter 2025 NIAC was $263 million or $0.51 per share compared to $229 million or $0.45 per share in second quarter 2025.

"We are pleased to report another strong quarter, a testament to the disciplined execution of our strategy and the expertise of our associates," said Chairman, President and CEO Bryan Jordan. "First Horizon's diversified business model and attractive geographic footprint position us well amid a changing environment. Our ongoing focus on safety and soundness, profitability, and growth enables us to meet our clients' evolving needs with tailored solutions that create meaningful value."

Jordan continued, "Credit quality remains a strength, driven 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 solid performance, supported by continued investments in technology and community partnerships, position First Horizon to deliver consistent returns and foster long-term growth for our shareholders."

Conference Call Information

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on October 15, 2025, 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 547397. 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 15 until midnight CT on October 29, 2025. To listen to the replay, dial 1-866-813-9403 (U.S. callers); the access code is 101579. A replay of the webcast will also be available on our website on October 15 and will be archived on the site for one year.

Forward-Looking Statements 

This document and the complete 3Q2025 earnings release to which it relates 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. Forward-looking statements often use words such as "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward," and other similar expressions that indicate future events and trends. 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. While there is no assurance that any list of uncertainties and contingencies is complete, examples of factors which could cause actual results to differ from those contemplated by forward-looking statements or historical performance include those mentioned: in this document; in Items 2.02 and 7.01 of FHN's Current Report on Form 8-K filed with the Securities and Exchange Commission on the date of this release; 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. Any forward-looking statements made by or on behalf of FHN speak only as of the date they are made, and 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 listed in this document or the documents mentioned above, and other factors not listed.

Throughout this document and the complete 3Q2025 earnings release to which it relates, numbers may not total 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 document and the complete 3Q2025 earnings release to which it relates 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 document and the complete 3Q2025 earnings release to which it relates 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 of FHN's complete 3Q25 earnings release available at https://ir.firsthorizon.com.

First Horizon Corp. (NYSE: FHN), with $83.2 billion in assets as of September 30, 2025, 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 concentrated in 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.

*References to "adjusted" results exclude notable items and, along with return on tangible common equity, tangible book value per share, and certain other financial measures, are non-GAAP financial measures. All references to loans include leases. Please see page 4 of FHN's complete 3Q25 earnings release available at https://ir.firsthorizon.com for information on our use of non-GAAP measures and a reconciliation of these measures to GAAP beginning on page 20 of that release.

SOURCE First Horizon Corporation