First Horizon Stock Earnings Reports

First Horizon began 2026 with strong momentum: adjusted ROTCE remained above 15% (15.1%), EPS was $0.53 (up $0.11 YoY), and net interest income grew 6% YoY despite lower rates. Core C&I lending was a standout, with $624 million of growth in the quarter, while mortgage warehouse balances remain a material but seasonal contributor (seasonal pickup expected in Q2). Deposits declined $1 billion period-end (driven by brokered deposit reductions); deposit beta since Sep 2024 is 69% and the quarter-end interest-bearing spot rate was 2.27%. Credit remains stable: net charge-offs were $29 million (18 bps), provision was $15 million, and ACL-to-loans was 1.28% (about seven times recent average net charge-offs). Capital actions included ~$230 million of common share repurchases in the quarter (≈$765 million authorization remaining) and issuance of $400 million Series H preferred, lifting Tier 1 to 11.95% and leaving CET1 at 10.53% (company updated near-term CET1 target to 10.5%). Management reiterated full-year revenue guidance (3%–7%), expects flat expenses year-over-year, and highlighted a $100M+ PPNR opportunity driven by deeper cross-sell, CRE pricing, and specialty/regional collaboration. Management plans to be opportunistic with buybacks while prioritizing safety, profitability, and selective growth. Exposure to private credit is minimal (<1% of loans), and mortgage warehouse historically shows very low charge-offs (~1 bps annually).