First Horizon Corporation reported a net income of $254 million for the third quarter of 2025, translating to earnings of $0.50 per diluted share, an increase from $213 million or $0.40 per share in the same quarter of 2024. The company's net interest income rose to $674 million, up $47 million year-over-year, driven by lower interest-bearing deposit costs and increased accretion from the Main Street Lending Program. The provision for credit losses showed a credit of $5 million, a significant improvement compared to a $35 million expense in the third quarter of 2024. Noninterest income also increased to $215 million, reflecting growth in fixed income and mortgage banking revenues.
In terms of operational metrics, First Horizon's total loans and leases reached $63.1 billion as of September 30, 2025, marking a $493 million increase from the end of 2024. The commercial loan segment saw a notable rise, particularly in loans to mortgage companies, which contributed to a $227 million increase in commercial loans. However, the commercial real estate portfolio decreased by $746 million, reflecting paydowns as projects transitioned to permanent financing. The company’s total deposits were $65.5 billion, slightly down from $65.6 billion at the end of 2024, with a mix of interest-bearing and noninterest-bearing deposits remaining stable.
Strategically, First Horizon redeemed all outstanding shares of its Series B Preferred Stock on August 1, 2025, which had a carrying value of $77 million. This action was part of a broader capital management strategy, which also included a common stock repurchase program that has seen $688 million in purchases to date. The company continues to focus on maintaining a well-capitalized position, with a Common Equity Tier 1 ratio of 10.96% as of September 30, 2025, down from 11.20% at the end of 2024, primarily due to share repurchases and the preferred stock redemption.
Looking ahead, First Horizon anticipates that its capital ratios will remain above well-capitalized standards, supported by ongoing earnings and strategic initiatives. The company is also closely monitoring economic conditions, including the impact of Federal Reserve interest rate policies and potential market fluctuations. The management remains optimistic about the future, citing a strong operational foundation and a commitment to enhancing shareholder value through prudent financial management and strategic growth initiatives.
About FIRST HORIZON CORP
First Horizon Corporation is a Tennessee-based bank holding company providing diversified financial services through its subsidiary, First Horizon Bank. Its core activities include commercial and consumer banking, mortgage lending, fixed income/capital markets, wealth management, and insurance brokerage. Serving clients across the U.S., the company emphasizes relationship-based banking, fee and interest income, and competitive technology-driven delivery channels. It operates a broad network of banking centers and specialized offices, focusing on risk management and strategic growth.
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