FHN-PH FIRST HORIZON CORP

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Executive Summary

First Horizon Corporation reported first quarter 2026 net income available to common shareholders of $257 million and EPS of $0.53, up 21% year-over-year. Net interest margin expanded to 3.52%, driven by deposit repricing, while noninterest expense decreased $40 million. The company deployed capital into loan growth and $233 million in share repurchases, with CET1 ratio declining to 10.53%.

Actionable Insight

Key Facts

• Net income available to common shareholders was $257 million, unchanged from prior quarter but up 21% YoY
• EPS was $0.53, up $0.01 from prior quarter and $0.12 from first quarter 2025
• Net interest margin expanded 1 basis point to 3.52% due to lower deposit costs
• Noninterest expense decreased $40 million to $505 million, driven by lower outside services and incentives
• CET1 ratio decreased to 10.53% after $233 million in share repurchases and $400 million preferred stock issuance
• Provision for credit losses was $15 million compared to $0 in prior quarter
• Asset quality improved with ACL to loans ratio decreasing to 1.28%

Financial Impact

EPS of $0.53, net income of $257 million, net interest margin of 3.52%

Risk Factors

• Increase in provision for credit losses from zero in prior quarter
• Decline in CET1 ratio to 10.53% despite preferred stock issuance
• Sensitivity to interest rate changes with 57% of loans indexed to short-term rates

Market Snapshot

Documents Analyzed

This report is based on 7 SEC documents filed with EDGAR.

US Market Status