Q4 2025 First Horizon Corp Earnings Call Transcript
Key Points
- First Horizon Corp (FHN) delivered increased preprovision net revenue and return on tangible common equity, reaching 15% in the latter half of 2025.
- Loan and deposit trends were solid, with improved balance sheet profitability through better loan mix and pricing.
- The company returned nearly $900 million in stock repurchases and over $300 million in dividends in 2025.
- Net interest margin expanded by 2 basis points, excluding the impact of the Main Street lending program accretion.
- First Horizon Corp (FHN) announced a new $1.2 billion share repurchase program, with just under $1 billion of authorization remaining.
- Net charge-offs increased by $4 million to $30 million, with a net charge-off ratio of 19 basis points.
- The company's net interest margin compressed by 4 basis points due to the Main Street lending program accretion.
- Personnel expenses increased by $12 million from the last quarter, driven by $8 million in incentives and commissions.
- Outside services expenses rose by $16 million, including project costs for technology and product initiatives.
- The company recorded no provision for credit losses in the fourth quarter, and the ACL to loan ratio declined to 1.31%.
Hello, everyone, and thank you for joining the First Horizon fourth quarter 2025 earnings conference call. My name is Lucy, and I'll be coordinating your call today. (Operator Instructions) It is now my pleasure to hand over to your host, Tyler Craft, Head of Investor Relations to begin. Please go ahead.
Thank you, Lucy. Good morning. Welcome to our fourth quarter 2025 results conference call. Thank you for joining us. Today, our Chairman, President and CEO, Bryan Jordan; and Chief Financial Officer, Hope Dmuchowski, will provide prepared remarks, after which we'll be happy to take your questions.
We're also pleased to have our Chief Credit Officer, Thomas Hung, here to assist with questions as well.
Our remarks today will reference our earnings presentation, which is available on our website at ir.firsthorizon.com. As always, I need to remind you that we will make forward-looking statements that are subject to risks and uncertainties. Therefore, we ask you to review the factors that
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