FIRST HORIZON (FHN) Company Report

First Horizon expects mid-single-digit loan growth in 2026, primarily driven by commercial and industrial lending, while commercial real estate and mortgage portfolios are anticipated to be flat to slightly down.
The company is committed to flat expenses for 2026, excluding countercyclical commission businesses, as it continues to invest in technology and aims to open 10-20 new branches annually in the Southeast.
First Horizon is targeting a reduction in its CET1 ratio to 10.5% by the first quarter or first half of 2026, believing this level is strong for its risk profile, and anticipates industry-wide capital levels to trend down.
The company returned approximately $1.2 billion in equity to shareholders last year, including nearly $900 million in stock buybacks, and recently increased its quarterly dividend from $0.15 to $0.17 per share, with about $1 billion in remaining buyback authority.
Management states that M&A is not a priority, with a focus on achieving $100 million of incremental profitability from its existing franchise and maintaining strong credit quality.

Feb 11, 2026, 1:50 PM

Transcript

First Horizon Discusses Strategic Growth, Financial Outlook, and Capital Deployment

FHN

Guidance Update

Share Buyback

Dividends

First Horizon is focused on organic growth in the Southeast, particularly through a consumer-driven model with branch density and commercial middle-market banking, expecting mid-single-digit loan growth in 2026 driven by commercial and industrial lending.
The company projects a 3%-7% revenue growth outlook for the year, with the higher end achievable through increased loan growth or a rebound in countercyclical businesses like mortgage refinancing if rates fall below 6%. They are committed to flat expenses for three years, reinvesting in technology and new branches.
First Horizon identifies over $100 million in additional profitability opportunity from its existing business, supporting a 15% ROTCE goal.
The company aims for CET1 ratios of 10%-10.5% and returned approximately $1.2 billion in equity last year, including nearly $900 million in stock buybacks, and increased the quarterly dividend to $0.17 per share in January. M&A is not a priority, with the current focus on maximizing profitability from the existing franchise.

Feb 11, 2026, 1:50 PM

Transcript

First Horizon Outlines Growth Strategy and Capital Plans at 2026 Conference

FHN

Guidance Update

Share Buyback

M&A

First Horizon aims for mid-single-digit loan growth in 2026, primarily driven by commercial and industrial lending, and projects a 3%-7% revenue growth outlook for the year, with the higher end dependent on increased loan growth or a rebound in countercyclical businesses like mortgage.
The company is committed to flat expenses through 2025, having invested in technology and hiring, and plans to open 10-20 new branches annually in the coming years, particularly in the Southeast.
Management identified at least another $100 million of profitability opportunity from its existing business, supporting its 15% Return on Tangible Common Equity (ROTCE) goal.
In terms of capital deployment, First Horizon bought back nearly $900 million worth of stock last year, increased its quarterly dividend from $0.15 to $0.17 per share in January 2026, and has approximately $1 billion in remaining share repurchase authority.
M&A is not a priority for the company, which is instead focused on maximizing profitability from its current balance sheet and executing on organic growth opportunities.

Feb 11, 2026, 1:50 PM

Transcript

First Horizon Corporation Reports Q4 2025 Results and Provides 2026 Outlook

FHN

Earnings

Share Buyback

Guidance Update

First Horizon Corporation (FHN) reported Q4 2025 earnings per share of $0.52, a net interest margin of 3.51%, and 2% loan growth.
In 2025, the company returned just under $900 million in stock repurchases and just over $300 million in dividends, and announced a new $1.2 billion repurchase program.
For 2026, FHN expects total revenue growth of 3%-7% year-over-year, a flattish expense outlook, and net charge-offs between 15 to 25 basis points.
The near-term CET1 target remains at 10.75%, with fluctuations between 10.5% and 10.75%.

Jan 15, 2026, 2:30 PM

Transcript

First Horizon Reports Strong Q4 2025 Results and Provides Optimistic 2026 Outlook

FHN

Earnings

Guidance Update

Share Buyback

First Horizon reported Q4 2025 earnings per share of $0.52, a net interest margin of 3.51%, and 2% loan growth. The company also achieved 15% adjusted return on tangible common equity in the back half of 2025.
In 2025, the company returned just under $900 million in stock repurchases and just over $300 million in dividends. A new $1.2 billion repurchase program was announced in October, with nearly $1 billion remaining. The near-term CET1 target is 10.75%, with a longer-term goal of 10%-10.5%.
For 2026, First Horizon expects year-over-year pre-provision net revenue (PPNR) growth, mid-single-digit balance sheet growth, and total revenue growth ranging from 3%-7%. The expense outlook is flattish, with net charge-offs projected between 15 to 25 basis points.
The company anticipates continued loan growth driven by a pickup in mortgage warehouse, an inflection point in C&I with broad-based growth, and an expected inflection in the commercial real estate (CRE) business in 2026.
First Horizon is focused on a $100 million-plus PPNR improvement opportunity that will build over 2026 and 2027, driven by deepening client relationships and pricing strategies. Whole bank M&A is not a priority, with focus remaining on leveraging the existing franchise.

Jan 15, 2026, 2:30 PM

Transcript

FHN Reports Strong Q4 2025 Performance and Provides 2026 Outlook

FHN

Guidance Update

Share Buyback

Revenue Acceleration/Inflection

FHN reported Q4 2025 earnings per share of $0.52, a net interest margin of 3.51%, and 2% loan growth, alongside a $2 billion increase in period-end deposit balances.
The company repurchased $335 million of common shares in Q4 2025, totaling $894 million for the full year, and announced a new $1.2 billion repurchase program.
For 2026, FHN projects total revenue growth of 3% to 7%, mid-single-digit balance sheet growth, and a flattish expense outlook.
FHN's near-term CET1 target is 10.75%, with an intermediate-term goal of 10%-10.5%, and it aims for 15%+ sustainable adjusted Return on Common Equity (ROCE).
The company also expects to achieve $100 million+ in PPNR improvement by 2027.

Jan 15, 2026, 2:30 PM

Transcript

FHN Reports Strong Q4 and Full-Year 2025 Financial Results

FHN

Earnings

Guidance Update

Share Buyback

FHN reported adjusted diluted EPS of $0.52 for Q4 2025 and $1.89 for the full year 2025, with adjusted Return on Tangible Common Equity (ROTCE) reaching 15.0% in Q4 2025.
The company achieved 4% total adjusted revenue growth for the full year 2025 and ended Q4 2025 with period-end deposits of $67.5 billion and period-end loans of $64.2 billion.
FHN returned capital to shareholders through $894 million in share buybacks for the full year 2025, including $335 million in Q4 2025, maintaining a CET1 ratio of 10.64% at year-end.
For 2026, the company anticipates 3-7% adjusted revenue growth (excluding deferred compensation) and approximately 0% adjusted expense growth (excluding deferred compensation).

Jan 15, 2026, 2:30 PM

Presentation

First Horizon Corporation Reports Strong Full Year and Fourth Quarter 2025 Results

FHN

Earnings

Share Buyback

Revenue Acceleration/Inflection

First Horizon Corporation reported full year 2025 net income available to common shareholders (NIAC) of $956 million or $1.87 EPS, a 29% increase compared to full year 2024.
Adjusted NIAC for full year 2025 increased 15% to $968 million or $1.89 EPS.
For the fourth quarter of 2025, NIAC was $257 million or $0.52 EPS, and adjusted NIAC was $259 million or $0.52 EPS.
The company returned $894 million of capital to shareholders in 2025 through share repurchases, ending the year with a CET1 ratio of 10.64%.
Total revenue for 2025 increased 7% to $3,420 million, with the net interest margin improving to 3.47%, up 12 basis points from the prior year.

Jan 15, 2026, 11:34 AM

8-K

First Horizon Corporation Reports Full Year and Fourth Quarter 2025 Financial Results

FHN

Earnings

Revenue Acceleration/Inflection

First Horizon Corporation reported full year 2025 net income available to common shareholders (NIAC) of $956 million or $1.87 earnings per share, marking a 38% EPS increase compared to full year 2024.
For the fourth quarter of 2025, NIAC was $257 million or $0.52 earnings per share, which grew 1% compared to the third quarter 2025 NIAC of $254 million or $0.50 EPS.
Adjusted fourth quarter 2025 net income available to common shareholders was $259 million or $0.52 per share, compared to $263 million or $0.51 per share in the third quarter 2025.
As of December 31, 2025, First Horizon Corp. had $83.9 billion in assets.

Jan 15, 2026, 11:30 AM

Press Release

First Horizon Discusses 2025 Performance, 2026 Outlook, and Capital Strategy

FHN

Guidance Update

Share Buyback

New Projects/Investments

First Horizon (FHN) expects mid-single-digit loan growth in 2026, driven by strong C&I pipelines, a robust mortgage warehouse business, and increased activity in commercial real estate.
The company anticipates flattish expenses in 2026 compared to 2025, attributing this to efficiencies gained from prior $100 million technology investments and a 60% expense offset for commissioned businesses.
FHN is targeting a sustained 15% or more Return on Tangible Common Equity (ROTCE), supported by capital and credit normalization, and over $100 million in Pre-Provision Net Revenue (PP&R) opportunities.
In Q4 2025, First Horizon has repurchased approximately $300 million of stock, contributing to a total of just under $900 million for the year, and aims to reduce its CET1 ratio towards a near-term target of 10.75%.
While confident in its ability to integrate mergers, M&A is not a significant priority for 2026, with the primary focus remaining on organic profitability improvement and cost control.

Dec 9, 2025, 8:40 PM

Transcript

Earnings Transcripts

Quarterly earnings call transcripts for FIRST HORIZON.

Q3 2025

Oct 15, 2025

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Q2 2025

Jul 16, 2025

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Q1 2025

Apr 16, 2025

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FIRST HORIZON (FHN)

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