Q1 2025 First Horizon Corp Earnings Call Transcript
Key Points
- First Horizon Corp (FHN) achieved a 9 basis point expansion in net interest margin, driven by effective deposit pricing strategies.
- The company reported a solid pre-provision net revenue growth of $16 million from the previous quarter.
- FHN successfully repurchased $360 million of stock, reflecting strategic capital deployment.
- The credit performance remained strong with a charge-off ratio of 19 basis points, consistent with prior performance.
- The company maintained a CET1 ratio of 10.9%, indicating a strong capital position.
- Adjusted EPS decreased by $0.01 to $0.42 per share compared to the previous quarter.
- Fee income, excluding deferred compensation, declined by $5 million.
- Provision expense increased by $30 million due to heightened macroeconomic uncertainty.
- Non-performing loans increased slightly by 2 basis points from the fourth quarter.
- The economic environment is marked by uncertainty due to tariffs and trade policies, impacting borrower sentiment and potentially delaying investments.
Hello everyone, and thank you for joining the First Horizon first quarter 2025 earnings call. My name is Lucy, and I'll be coordinating your call today. (Operator Instructions) I will now hand over to your host, Tyler Kraft, Head of Investor Relations to begin. Please go ahead.
Thank you, Lucy. Good morning. Welcome to our first quarter of 2025 results conference call. Thank you for joining us, and we're especially appreciative at how nimbly everyone adjusted the conference call number as we had an unforeseen outage this morning from a carrier, and we're able to get a new number in place very quickly, so we appreciate you all making the call.
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 Hong, here to assist those questions as well. Our remarks today will reference our earnings presentation, which is
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