Question · Q3 2025
Ben Gallinger followed up on M&A comments, asking if First Horizon was taking itself off the table as a potential seller or if the comments were positioning for smaller acquisitions, noting a negative share price reaction. He also asked CFO Hope Dmuchowski about the margin's starting point for Q4 and next year, considering potential rate cuts and deposit repricing dynamics.
Answer
Chairman, President, and CEO Bryan Jordan clarified that his comments reinforced First Horizon's progress and increasing confidence in considering fill-in opportunities, not changing the long-term optionality or previous stance. CFO Hope Dmuchowski reiterated a Q4 margin outlook in the high 330s to low 340s, expecting deposit repricing to lag rate cuts, similar to prior cycles, with a target beta in the high 60s to low 70s.