First Horizon Corp
F:FT2
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First Horizon Corp
First Horizon Corp., headquartered in Memphis, Tennessee, is a financial services titan with deep roots in the Southern United States. Established in 1864 amid the post-Civil War economy, the company has grown from its humble beginnings into a robust banking institution. Its journey is marked by strategic mergers and acquisitions, which have expanded its footprint and broadened its offerings. Today, First Horizon's operations are segmented into commercial banking, consumer banking, wealth management, and capital markets—each contributing to a diverse revenue stream. Throughout its portfolio, the corporation offers a range of services including lending, savings, and investment products aimed at both individuals and businesses. These services are designed to cater to various financial needs, establishing the corporation as a reliable partner for its clientele's growth and stability.
The company's commercial banking sector serves as the backbone of its revenue, offering loans and tailored financial solutions to businesses ranging from small enterprises to large corporations. Simultaneously, the consumer banking sector provides a wide array of retail services, including checking, savings, and credit card offerings to individual customers. Wealth management further augments the corporation's financial muscle by managing investments, providing financial planning, and offering trust services to high-net-worth individuals. Lastly, the capital markets operations support businesses with offers such as advisory services, underwriting, and securities trading, thereby enhancing their market presence and business efficiency. These interlocking segments allow First Horizon Corp. to not only thrive in its traditional banking roots but also expand its footprint in the financial markets, creating a comprehensive ecosystem that underpins its profitability and resilience.
First Horizon Corp., headquartered in Memphis, Tennessee, is a financial services titan with deep roots in the Southern United States. Established in 1864 amid the post-Civil War economy, the company has grown from its humble beginnings into a robust banking institution. Its journey is marked by strategic mergers and acquisitions, which have expanded its footprint and broadened its offerings. Today, First Horizon's operations are segmented into commercial banking, consumer banking, wealth management, and capital markets—each contributing to a diverse revenue stream. Throughout its portfolio, the corporation offers a range of services including lending, savings, and investment products aimed at both individuals and businesses. These services are designed to cater to various financial needs, establishing the corporation as a reliable partner for its clientele's growth and stability.
The company's commercial banking sector serves as the backbone of its revenue, offering loans and tailored financial solutions to businesses ranging from small enterprises to large corporations. Simultaneously, the consumer banking sector provides a wide array of retail services, including checking, savings, and credit card offerings to individual customers. Wealth management further augments the corporation's financial muscle by managing investments, providing financial planning, and offering trust services to high-net-worth individuals. Lastly, the capital markets operations support businesses with offers such as advisory services, underwriting, and securities trading, thereby enhancing their market presence and business efficiency. These interlocking segments allow First Horizon Corp. to not only thrive in its traditional banking roots but also expand its footprint in the financial markets, creating a comprehensive ecosystem that underpins its profitability and resilience.
Strong Q4 Results: First Horizon reported Q4 EPS of $0.52, a net interest margin of 3.51%, and 2% loan growth, with solid performance across key businesses.
Profitability: The company achieved a 15% return on tangible common equity in the back half of 2025 and expects to sustain or exceed this level going forward.
Capital Returns: Nearly $900 million was returned to shareholders in stock repurchases and over $300 million in dividends in 2025; a new $1.2 billion buyback is authorized.
2026 Outlook: Management expects mid-single-digit balance sheet growth, total revenue growth of 3–7%, and flattish expenses, with ongoing investments in growth and technology.
Credit Quality: Net charge-offs remain low at 19 bps, no provision for credit losses was needed in Q4, and reserve levels are viewed as adequate for current risks.
Loan & Deposit Growth: Loan pipelines are strong, especially in C&I and CRE; deposit growth initiatives are showing momentum, with a focus on relationship deepening.
Expense Discipline: Flat expense guidance for 2026 is reiterated, with some flexibility for higher commission-based expenses if revenue beats expectations.
M&A Not a Priority: While open to small, strategic deals, management stresses that organic growth and profitability are the main focus, not whole-bank acquisitions.
