MEMPHIS, Tenn., Oct. 15, 2026 /PRNewswire/ — First Horizon Corporation (NYSE: FHN) (or “First Horizon”) today reported financial results for the third quarter of a net loss available to common shareholders of $(94) million or loss per share of $(0.20). These results reflect the impact of strategic actions to further align the balance sheet with the Company’s growth priorities. During the quarter, the Company began evaluating the possibility of selling ~$4.5 billion of select lower yielding consumer mortgages and, in early October, entered into an agreement to sell these mortgages. This transaction will be accretive to earnings on a go forward basis and will provide balance sheet flexibility to support future loan growth. The transaction is expected to settle early in the fourth quarter.

Excluding notable items, adjusted earnings per share for third quarter 2026 was $0.53, down $0.01 from second quarter 2026 and up $0.02 from third quarter 2025. Reported results include the impacts of notable items totaling $0.73 per share, or $347 million after tax, primarily related to the reclassification of targeted mortgage loans to held for sale in relation to the pending mortgage portfolio sale.

CEO Commentary

“This quarter’s results are a testament to our disciplined approach and clear strategic priorities,” said Bryan Jordan, Chairman, President and CEO of First Horizon Corporation. “Average client deposit balances increased $1.3 billion in the quarter, and we continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation. Looking ahead, we remain committed to executing our strategy and delivering sustainable growth and value for our clients, associates, and shareholders.”

Conference Call Information

Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on October 15, 2026, by dialing 1-833-461-5787 (if calling from the U.S.) and entering access code 391 852 446. 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 webcast will  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 3Q2026 earnings release to which it relates contain 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 3Q2026 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 3Q2026 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 3Q2026 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 19 of FHN’s complete 3Q26 earnings release available at https://ir.firsthorizon.com.

First Horizon Corp. (NYSE: FHN), with $84.3 billion in assets as of September 30, 2026, 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.

 

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SOURCE First Horizon Corporation