NYSE : FHN
First Horizon Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 23.66 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 11.21B
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 3.81B | 3.73B | 3.91B | 3.63B | 2.33B | 1.99B |
| Interest Income on Investments | 338.00M | 454.00M | 442.00M | 474.00M | 352.00M | 168.00M |
| Total Interest Income | 4.14B | 4.19B | 4.35B | 4.10B | 2.68B | 2.16B |
| Interest Paid on Deposits | 1.28B | 1.34B | 1.62B | 1.27B | 184.00M | 81.00M |
| Interest Paid on Borrowings | 164.00M | 225.00M | 221.00M | 294.00M | 107.00M | 83.00M |
| Total Interest Expense | 1.44B | 1.56B | 1.84B | 1.56B | 291.00M | 164.00M |
| Net Interest Income | 2.70B | 2.62B | 2.51B | 2.54B | 2.39B | 1.99B |
| Trust Income | 40.00M | 51.00M | 48.00M | 47.00M | 48.00M | 51.00M |
| Mortgage Banking Activities | 36.00M | 43.00M | 35.00M | 23.00M | 68.00M | 154.00M |
| Gain (Loss) on Sale of Assets | 9.00M | 22.00M | 6.00M | |||
| Gain (Loss) on Sale of Investments | 1.00M | -89.00M | -4.00M | 18.00M | 13.00M | |
| Other Non-Interest Income | 607.00M | 533.00M | 509.00M | 448.00M | 488.00M | 677.00M |
| Total Non-Interest Income | 341.00M | 797.00M | 679.00M | 702.00M | 815.00M | 1.08B |
| Revenues Before Loan Losses | 3.04B | 3.42B | 3.19B | 3.24B | 3.21B | 3.07B |
| Provision for Loan Losses | 5.00M | 65.00M | 150.00M | 260.00M | 95.00M | -310.00M |
| Revenue | 3.04B | 3.35B | 3.04B | 2.98B | 3.11B | 3.38B |
| Salaries and Employee Benefits | 1.14B | 1.10B | 1.08B | 1.06B | 1.03B | 1.17B |
| Occupancy Expenses | 149.00M | 94.00M | 87.00M | 80.00M | 83.00M | 90.00M |
| Federal Deposit Insurance | 31.00M | 42.00M | 64.00M | 122.00M | 32.00M | 24.00M |
| Amortization of Goodwill & Intangibles | 33.00M | 38.00M | 44.00M | 47.00M | 51.00M | 56.00M |
| Selling, General & Administrative | 412.00M | 422.00M | 386.00M | 359.00M | 481.00M | 462.00M |
| Other Non-Interest Expense | 325.00M | 354.00M | 358.00M | 346.00M | 273.00M | 212.00M |
| Total Non-Interest Expense | 2.11B | 2.07B | 2.04B | 2.08B | 1.95B | 2.02B |
| EBT Excluding Unusual Items | 928.00M | 1.28B | 1.00B | 903.00M | 1.16B | 1.35B |
| Asset Writedown | -34.00M | |||||
| Pretax Income | 928.00M | 1.28B | 1.00B | 1.13B | 1.16B | 1.28B |
| Income Tax Expense | 201.00M | 282.00M | 211.00M | 212.00M | 247.00M | 274.00M |
| Earnings From Continuing Operations | 727.00M | 998.00M | 794.00M | 916.00M | 912.00M | 1.01B |
| Minority Interest in Earnings | -15.00M | -16.00M | -19.00M | -19.00M | -12.00M | -11.00M |
| Net Income | 712.00M | 982.00M | 775.00M | 897.00M | 900.00M | 999.00M |
| Preferred Dividends & Other Adjustments | 32.00M | 26.00M | 37.00M | 32.00M | 32.00M | 37.00M |
| Net Income to Common | 680.00M | 956.00M | 738.00M | 865.00M | 868.00M | 962.00M |
| Basic Shares Outstanding | 479.92M | 505.13M | 540.32M | 548.41M | 535.03M | 546.35M |
| Diluted Shares Outstanding | 484.33M | 511.11M | 544.28M | 561.73M | 566.00M | 551.24M |
| EPS (Basic) | 1.42 | 1.89 | 1.37 | 1.58 | 1.62 | 1.76 |
| EPS (Diluted) | 1.40 | 1.87 | 1.36 | 1.54 | 1.53 | 1.74 |
| Dividend Per Share | 0.66 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 |
| Effective Tax Rate | 21.66% | 22.03% | 21.00% | 18.79% | 21.31% | 21.34% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 2.04B | 982.00M | 965.00M | 1.21B | 1.19B | 1.30B |
| Investment Securities | 1.80B | 4.19B | 4.28B | 4.31B | 4.07B | 17.27B |
| Trading Asset Securities | 1.87B | 2.23B | 1.92B | 1.99B | 1.83B | 1.93B |
| Mortgage-Backed Securities | 8.75B | 7.73B | 7.74B | 7.95B | 8.45B | 8.02B |
| Total Investments | 12.42B | 14.14B | 13.94B | 14.25B | 14.35B | 27.21B |
| Gross Loans | 59.81B | 64.47B | 62.84B | 61.54B | 58.30B | 54.86B |
| Allowance for Loan Losses | -644.00M | -738.00M | -815.00M | -773.00M | -685.00M | -670.00M |
| Other Adjustments to Gross Loans | -315.00M | -279.00M | -244.00M | -198.00M | ||
| Net Loans | 59.16B | 63.42B | 61.75B | 60.52B | 57.42B | 54.19B |
| Property, Plant & Equipment | 561.00M | 866.00M | 871.00M | 899.00M | 945.00M | 997.00M |
| Goodwill | 1.51B | 1.51B | 1.51B | 1.51B | 1.51B | |
| Other Intangible Assets | 1.59B | 105.00M | 143.00M | 186.00M | 234.00M | 298.00M |
| Loans Held for Sale | 4.37B | 406.00M | 551.00M | 502.00M | 590.00M | 1.17B |
| Accrued Interest Receivable | 257.00M | 271.00M | 287.00M | 226.00M | 134.00M | |
| Other Real Estate Owned & Foreclosed | 3.00M | 3.00M | 4.00M | 11.00M | 10.00M | |
| Other Long-Term Assets | 4.17B | 2.14B | 2.10B | 2.27B | 2.43B | 2.24B |
| Total Assets | 84.32B | 83.88B | 82.15B | 81.66B | 78.95B | 89.09B |
| Interest Bearing Deposits | 52.10B | 49.85B | 47.66B | 46.78B | 39.09B | 46.15B |
| Institutional Deposits | 1.80B | 1.90B | 1.80B | 936.00M | 859.00M | |
| Non-Interest Bearing Deposits | 15.60B | 15.82B | 16.02B | 17.20B | 23.47B | 27.88B |
| Total Deposits | 67.70B | 67.48B | 65.58B | 65.78B | 63.49B | 74.89B |
| Short-Term Borrowings | 2.80B | 3.66B | 4.07B | 3.25B | 3.46B | 2.25B |
| Current Portion of Long-Term Debt | 450.00M | |||||
| Other Current Liabilities | 997.00M | 607.00M | 550.00M | 509.00M | 335.00M | 426.00M |
| Long-Term Debt | 1.32B | 1.17B | 1.04B | 1.00B | 999.00M | 1.44B |
| Long-Term Leases | 370.00M | 333.00M | 345.00M | 371.00M | 386.00M | |
| Trust Preferred Securities | 153.00M | 151.00M | 150.00M | 148.00M | 148.00M | |
| Pension & Post-Retirement Benefits | 63.00M | 50.00M | 66.00M | 56.00M | 71.00M | |
| Other Long-Term Liabilities | 2.37B | 1.24B | 1.26B | 1.27B | 1.09B | 978.00M |
| Total Liabilities | 75.19B | 74.73B | 73.04B | 72.37B | 70.41B | 80.60B |
| Preferred Stock, Redeemable | 682.00M | 349.00M | 426.00M | 520.00M | 1.01B | 520.00M |
| Common Stock | 296.00M | 303.00M | 328.00M | 349.00M | 336.00M | 333.00M |
| Additional Paid-In Capital | 3.66B | 3.97B | 4.81B | 5.35B | 4.84B | 4.74B |
| Retained Earnings | 5.21B | 5.03B | 4.38B | 3.96B | 3.43B | 2.89B |
| Comprehensive Income & Other | -1.02B | -810.00M | -1.13B | -1.19B | -1.37B | -288.00M |
| Total Common Equity | 8.15B | 8.50B | 8.39B | 8.48B | 7.24B | 7.68B |
| Minority Interest | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M | 295.00M |
| Shareholders' Equity | 9.12B | 9.14B | 9.11B | 9.29B | 8.55B | 8.49B |
| Total Liabilities & Equity | 84.32B | 83.88B | 82.15B | 81.66B | 78.95B | 89.09B |
| Total Debt | 4.12B | 5.35B | 5.60B | 4.74B | 5.43B | 4.23B |
| Net Cash (Debt) | 1.58B | -396.00M | -606.00M | 305.00M | -670.00M | 14.39B |
| Net Cash Per Share | 3.27 | -0.77 | -1.11 | 0.54 | -1.18 | 26.11 |
| Filing Date Shares Outstanding | 474.00M | 483.19M | 521.77M | 558.81M | 537.34M | 533.63M |
| Total Common Shares Outstanding | 474.00M | 484.83M | 524.28M | 558.84M | 537.10M | 533.58M |
| Book Value Per Share | 17.19 | 17.53 | 16.00 | 15.17 | 13.48 | 14.39 |
| Tangible Book Value | 6.56B | 6.88B | 6.74B | 6.78B | 5.49B | 5.87B |
| Tangible Book Value Per Share | 13.83 | 14.20 | 12.85 | 12.13 | 10.23 | 11.00 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 982.00M | 775.00M | 897.00M | 900.00M | 999.00M | |
| Depreciation & Amortization | 64.00M | 101.00M | 102.00M | 85.00M | 45.00M | |
| Gain (Loss) on Sale of Assets | -1.00M | 29.00M | ||||
| Gain (Loss) on Sale of Investments | -1.00M | 89.00M | 4.00M | -18.00M | -13.00M | |
| Provision for Credit Losses | 46.00M | 75.00M | 248.00M | 202.00M | -515.00M | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | -890.00M | -966.00M | -1.11B | -1.42B | -2.19B | |
| Other Operating Activities | 366.00M | 1.14B | 1.12B | 2.47B | 2.33B | |
| Operating Cash Flow | 628.00M | 1.27B | 1.30B | 2.29B | 725.00M | |
| Capital Expenditures | -33.00M | -44.00M | -37.00M | -28.00M | -53.00M | |
| Sale of Property, Plant and Equipment | 3.00M | 8.00M | 1.00M | 18.00M | 42.00M | |
| Investment in Securities | 553.00M | 296.00M | 704.00M | 11.45B | -8.16B | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -1.65B | -1.34B | -3.30B | -3.20B | 3.52B | |
| Other Investing Activities | 30.00M | 19.00M | 30.00M | 97.00M | 41.00M | |
| Investing Cash Flow | -1.09B | -1.06B | -2.60B | 8.33B | -4.60B | |
| Short-Term Debt Issued | 851.00M | 43.00M | 382.00M | |||
| Long-Term Debt Issued | 513.00M | 16.00M | 4.00M | |||
| Total Debt Issued | 513.00M | 867.00M | 43.00M | 386.00M | ||
| Short-Term Debt Repaid | -146.00M | -75.00M | ||||
| Long-Term Debt Repaid | -366.00M | -6.00M | -450.00M | -108.00M | ||
| Total Debt Repaid | -512.00M | -6.00M | -450.00M | -183.00M | ||
| Net Debt Issued (Repaid) | 1.00M | 861.00M | -407.00M | 386.00M | -183.00M | |
| Issuance of Common Stock | 6.00M | 9.00M | 5.00M | 36.00M | 28.00M | |
| Repurchase of Common Stock | -918.00M | -626.00M | -10.00M | -12.00M | -416.00M | |
| Preferred Stock Issued | 494.00M | 145.00M | ||||
| Preferred Share Repurchases | -80.00M | -100.00M | -100.00M | |||
| Common Dividends Paid | -314.00M | -332.00M | -335.00M | -324.00M | -333.00M | |
| Preferred Dividends Paid | -26.00M | -29.00M | -32.00M | -32.00M | -33.00M | |
| Total Dividends Paid | -340.00M | -361.00M | -367.00M | -356.00M | -366.00M | |
| Net Increase (Decrease) in Deposit Accounts | 1.89B | -201.00M | 2.29B | -11.41B | 4.92B | |
| Other Financing Activities | -39.00M | 14.00M | -16.00M | -11.00M | -11.00M | |
| Financing Cash Flow | 524.00M | -404.00M | 1.49B | -10.87B | 4.02B | |
| Net Cash Flow | 58.00M | -194.00M | 188.00M | -245.00M | 140.00M | |
| Free Cash Flow | 595.00M | 1.22B | 1.26B | 2.26B | 672.00M | |
| Free Cash Flow Margin | 17.74% | 40.26% | 42.32% | 72.72% | 19.88% | |
| Free Cash Flow Per Share | 1.16 | 2.25 | 2.25 | 4.00 | 1.22 | |
| Cash Interest Paid | 1.58B | 1.87B | 1.43B | 280.00M | 170.00M | |
| Cash Income Tax Paid | 60.00M | 99.00M | 104.00M | 13.00M | 228.00M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 11.02B | 11.77B | 10.68B | 7.91B | 13.15B | 8.83B |
| Last Close Price | 23.27 | 23.39 | 19.16 | 12.97 | 21.42 | 13.91 |
| PE Ratio | 16.65 | 12.31 | 14.47 | 9.15 | 15.15 | 9.18 |
| PS Ratio | 3.63 | 3.51 | 3.51 | 2.65 | 4.23 | 2.61 |
| PB Ratio | 1.35 | 1.29 | 1.17 | 0.85 | 1.54 | 1.04 |
| P/FCF Ratio | 10.84 | 19.78 | 8.72 | 6.27 | 5.81 | 13.14 |
| P/OCF Ratio | 10.41 | 18.74 | 8.42 | 6.09 | 5.74 | 12.18 |
| Debt / Equity Ratio | 0.45 | 0.58 | 0.61 | 0.51 | 0.64 | 0.50 |
| Debt / FCF Ratio | 8.99 | 4.57 | 3.76 | 2.40 | 6.29 | |
| Net Debt / Equity Ratio | -0.17 | 0.04 | 0.07 | -0.03 | 0.08 | -1.69 |
| Net Debt / FCF Ratio | 0.67 | 0.49 | -0.24 | 0.30 | -21.42 | |
| Return on Equity (ROE) | 7.92% | 10.94% | 8.63% | 10.27% | 10.70% | 12.02% |
| Return on Assets (ROA) | 0.87% | 1.20% | 0.97% | 1.14% | 1.08% | 1.17% |
| Earnings Yield | 6.01% | 8.34% | 7.26% | 11.34% | 6.84% | 11.31% |
| FCF Yield | 9.22% | 5.06% | 11.46% | 15.95% | 17.21% | 7.61% |
| Dividend Yield | 2.92% | 2.47% | 2.95% | 4.24% | 2.45% | 3.62% |
| Payout Ratio | 48.66% | 34.62% | 46.58% | 40.91% | 39.56% | 36.64% |
| Buyback Yield / Dilution | 6.95% | 6.10% | 3.11% | 0.76% | -2.68% | -27.10% |
| Total Shareholder Return | 9.87% | 8.57% | 6.05% | 4.99% | -0.23% | -23.47% |