FIRST HORIZON CORP

Listed Company

FHN-PECIK 0000036966NYSELarge AcceleratedNational Commercial BanksTennesseeFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$982.00M

Total Assets

$83.88B

Equity

$8.85B

Shares Out

483.19M

Op. Cash Flow

$628.00M

+ 13F Filer

Business

First Horizon Corporation is a bank holding company that provides diversified financial services through its subsidiaries, principally First Horizon Bank. It offers lending and deposit products, commercial and mortgage lending, fixed income and capital markets services, mortgage origination and warehouse lending, wealth management and brokerage, insurance brokerage, trust and fiduciary services, payment and transaction processing, credit card and equipment finance, and investment advisory services. The company reports results through commercial, consumer & wealth, wholesale, and corporate segments covering lines such as commercial banking, business banking, private client and fixed income/capital markets. It serves clients across a multi-state U.S. footprint via banking centers, client-service offices, fixed-income offices, correspondent relationships, and digital channels.

Summary from filing dated 2025-02-27

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans and leases	3,698	3,874	3,575	2,292	1,957
Interest and fees on loans held for sale	34	36	51	39	33
Interest on investment securities	282	241	247	198	121
Interest on trading securities	91	85	78	58	30
Interest on other earning assets	81	116	149	96	17
Total interest income	4,186	4,352	4,100	2,683	2,158
Interest on deposits	1,339	1,620	1,266	184	81
Interest on trading liabilities	26	24	12	12	6
Interest on short-term borrowings	121	130	210	23	5
Interest on term borrowings	78	67	72	72	72
Total interest expense	1,564	1,841	1,560	291	—
Net interest income	2,622	2,511	2,540	2,392	1,994
Provision for credit losses	65	150	260	95	—
Net interest income after provision for credit losses	2,557	2,361	2,280	2,297	2,304
Fixed income	206	187	133	205	406
Deposit transactions and cash management	169	176	179	171	175
Brokerage, management fees and commissions	105	101	90	92	88
Card and digital banking fees	74	77	77	84	78
Other service charges and fees	60	51	54	54	44
Trust services and investment management	51	48	47	48	51
Mortgage banking income	43	35	23	68	154
Gain on merger termination	0	0	225	0	0
Securities gains (losses), net	1	−89	−4	18	13
Other income	88	93	103	75	67
Total noninterest income	797	679	927	815	1,076
Personnel expense	1,159	1,137	1,100	1,101	1,210
Net occupancy expense	139	130	123	128	137
Computer software	138	121	111	113	116
Operations services	96	94	87	87	80
Legal and professional fees	86	64	49	62	68
Advertising and public relations	54	48	71	50	37
Deposit insurance expense	42	64	122	32	24
Contract employment and outsourcing	38	51	49	54	67
Amortization of intangible assets	38	44	47	51	56
Contributions	26	18	61	7	14
Other expense	258	264	259	186	169
Total noninterest expense	2,074	2,035	2,079	1,953	2,096
Income before income taxes	1,280	1,005	1,128	1,159	1,284
Income tax expense	282	211	212	247	274
Net income (loss)	998	794	916	912	1,010
Net income attributable to noncontrolling interest	16	19	19	12	11
Net income attributable to controlling interest	982	775	897	900	999
Preferred stock dividends	26	37	32	32	37
Net income available to common shareholders	956	738	865	868	962
Net income available to common shareholders	956	738	865	868	962
Basic earnings per share (in dollars per share)	1.89	1.37	1.58	1.62	1.76
Diluted earnings per share (in dollars per share)	1.87	1.36	1.54	1.53	1.74
Weighted average common shares (in shares)	505	540	548	535	546
Diluted average common shares (in shares)	511	544	562	566	551

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	961	906	1,012	1,061	1,147
Interest-bearing deposits with banks	1,125	1,538	1,328	1,384	14,907
Federal funds sold and securities purchased under agreements to resell	634	631	719	482	641
Trading securities	1,904	1,387	1,412	1,375	1,601
Securities available for sale at fair value	8,165	7,896	8,391	8,836	8,707
Securities held to maturity (fair value of $1,073 and $1,083, respectively)	1,216	1,270	1,323	1,371	712
Loans held for sale (including $151 and $85 at fair value, respectively)	406	551	502	590	1,172
Loans and leases	64,156	62,565	61,292	58,102	54,859
Allowance for loan and lease losses	−738	−815	−773	−685	−670
Net loans and leases	63,418	61,750	60,519	57,417	54,189
Premises and equipment	544	574	590	612	665
Goodwill	1,510	1,510	1,510	1,511	1,511
Other intangible assets	105	143	186	234	298
Other assets	3,888	3,996	4,169	4,080	3,542
Total assets	83,876	82,152	81,661	78,953	89,092
Noninterest-bearing deposits	15,823	16,021	17,204	23,466	27,883
Interest-bearing deposits	51,653	49,560	48,576	40,023	47,012
Total deposits	67,476	65,581	65,780	63,489	74,895
Trading liabilities	607	550	509	335	426
Short-term borrowings	3,254	3,400	2,549	2,506	2,124
Term borrowings	1,321	1,195	1,150	1,597	1,590
Other liabilities	2,076	2,315	2,382	2,479	1,563
Total liabilities	74,734	73,041	72,370	70,406	80,598
Preferred stock, Non-cumulative perpetual, no par value; authorized 5,000,000 shares; issued 8,750 and 16,750 shares, respectively	349	426	520	1,014	520
Common stock, $0.625 par value; authorized 700,000,000 shares; issued 484,825,395 and 524,280,412 shares, respectively	303	328	349	336	333
Capital surplus	3,974	4,808	5,351	4,840	4,743
Retained earnings	5,031	4,382	3,964	3,430	2,891
Accumulated other comprehensive loss, net	−810	−1,128	−1,188	−1,368	−288
FHN shareholders' equity	8,847	8,816	8,996	8,252	8,199
Noncontrolling interest	295	295	295	295	295
Total equity	9,142	9,111	9,291	8,547	8,494
Total liabilities and equity	83,876	82,152	81,661	78,953	89,092

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Deferred income tax expense (benefit)	49	−17	44	91	0
Depreciation and amortization of premises and equipment	56	55	55	59	61
Net other amortization (accretion)	−30	2	0	−25	−72
Net decrease in trading securities (a)	530	1,011	1,163	2,120	1,824
Net (increase) decrease in derivatives	5	−2	−314	524	412
Stock-based compensation expense	61	59	36	75	43
Securities (gains) losses, net	−1	89	4	−18	−13
Purchases and originations	−3,077	−2,758	−2,295	−3,728	−6,644
Gross proceeds from settlements and sales	2,187	1,792	1,183	2,310	4,451
Gain due to fair value adjustments and other	−19	−75	−12	107	−205
Other operating activities, net	−234	124	212	−272	65
Total adjustments	−370	474	383	1,379	−285
Net cash provided by operating activities	628	1,268	1,299	2,291	725
Proceeds from sales of securities available for sale	0	1,155	0	0	68
Proceeds from payments on securities available for sale	957	831	856	1,351	2,771
Purchases of securities available for sale	−874	−1,538	−261	−2,767	−3,736
Proceeds from payments on securities held to maturity	57	57	53	55	17
Proceeds from sales of premises and equipment	3	8	1	18	42
Purchases of premises and equipment	−33	−44	−37	−28	—
Proceeds from BOLI	24	13	14	22	22
Net increase in loans and leases	−1,647	−1,337	−3,303	−3,204	3,525
Net decrease (increase) in interest-bearing deposits with banks	413	−209	56	13,523	−6,556
Other investing activities, net	6	6	16	75	19
Net cash used in investing activities	−1,094	−1,058	−2,605	8,333	−4,601
Stock options exercised	6	9	5	36	28
Cash dividends paid	−314	−332	−335	−324	−333
Repurchase of shares	−918	−626	−10	−12	−416
Preferred stock redemption	−80	−100	0	0	−100
Cash dividends paid - preferred stock - noncontrolling interest	−16	−19	−17	−11	−11
Cash dividends paid - preferred stock	−26	−29	−32	−32	−33
Net increase (decrease) in deposits	1,894	−201	2,289	−11,406	4,919
Net (decrease) increase in short-term borrowings	−146	851	43	382	−75
Proceeds from issuance of term borrowings	513	16	0	—	—
Repayment of term borrowings	−366	−6	−450	—	−108
(Decreases) increases in secured borrowings	−23	33	1	—	—
Net cash provided by (used in) financing activities	524	−404	1,494	−10,869	4,016
Net increase (decrease) in cash and cash equivalents	58	−194	188	−245	140
Total interest paid	1,584	1,869	1,428	280	170
Total taxes paid	62	106	123	20	258
Total taxes refunded	2	7	19	7	30
Transfer from loans to OREO	5	3	4	3	4
Transfer from loans HFS to trading securities	1,053	992	1,212	1,893	2,232
Transfer from loans HFS to loans	1	0	0	0	31

Filings

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Holdings (13F)

Portfolio as of 2025-12-31 · 2,215 positions

Reported AUM

$2.28B

Holdings

2.2K

Top sector

$2.28B

Top sectors

Sector	Value	% of portfolio
Uncategorized	$2.28B	100.0%

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