First Horizon Earnings Call Transcripts
Fiscal Year 2026
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Strong Q1 performance with 15%+ adjusted ROTCE, 6% NII growth, and robust C&I loan expansion. Capital ratios remain solid, expense discipline is maintained, and guidance for 3–7% revenue growth is reiterated, supported by strong pipelines and diversified business lines.
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A strong southern U.S. franchise is leveraging momentum from 2025, focusing on profitable growth, disciplined expense management, and robust capital returns. Loan pipelines and deposit growth remain healthy, with countercyclical businesses supporting stability across rate cycles.
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Sustained strong ROIC and credit quality were achieved ahead of schedule, with robust capital returns to shareholders. AI and technology investments are driving efficiency and fraud prevention, while a decentralized credit model supports consistent performance. Loan and deposit growth are lagging, but the outlook remains confident amid economic uncertainty.
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Management highlighted strong commercial lending, robust growth in the Southeast, and a focus on technology and AI to drive efficiency. Revenue growth is expected in the mid-single digits, with disciplined expense management and a confident outlook on credit quality and capital returns.
Fiscal Year 2025
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Delivered strong Q4 with EPS of $0.52, 2% loan growth, and 15% ROTCE. 2026 guidance calls for 3%-7% revenue growth, flat expenses, and mid-single-digit loan growth, with continued capital returns and a focus on profitability and disciplined lending.
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Management highlighted strong progress in technology, cost discipline, and capital return, with customer confidence and loan demand rising. Loan growth is expected to be mid-single digits in 2026, supported by stable deposits and specialty business momentum. Focus remains on organic growth, efficiency, and maintaining strong credit quality.
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Clients remain optimistic with strong pipelines, while mortgage warehouse and franchise finance drive loan growth. Technology investments and AI have improved efficiency, supporting a sustained 15%+ ROTCE target. Deposit competition has eased, and credit quality remains strong.
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Strong Q3 results with adjusted EPS of $0.51 and 15% ROTCE, driven by higher NII, fee income, and disciplined expense management. Share buybacks accelerated, and guidance remains confident for 2025, with a focus on organic growth and selective M&A opportunities in a favorable environment.
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Management highlighted strong regional growth, stable deposit pricing, and a focus on revenue-driven profitability. Loan growth and ROTCE targets are supported by cross-selling, specialty verticals, and disciplined expense management. Optimism prevails for value creation over the next two to three years.
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Adjusted EPS rose to $0.45 on strong loan and deposit growth, disciplined expenses, and stable credit quality. Guidance for 2025 remains unchanged, with a focus on NII-driven revenue and expense control, while competitive pressures and economic uncertainties persist.
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Management is optimistic about growth, targeting $100M+ in pre-tax profit gains over 2–3 years, driven by unified strategy, technology investments, and strong credit quality. Loan growth and deposit retention remain solid, with regulatory and M&A tailwinds expected as clarity improves.
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Solid pre-provision net revenue growth and strong credit quality were achieved despite macroeconomic uncertainty from tariffs. Guidance for 2025 remains unchanged, with a focus on disciplined expense management, capital deployment, and a 15%+ ROTCE target.
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Operating in high-growth markets, the franchise has leveraged technology investments and aggressive marketing to drive customer and deposit growth. Margin expansion, operational improvements, and a focus on organic growth position the business for higher profitability and regulatory readiness through 2027.
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Clients remain optimistic but cautious, awaiting clarity on tariffs, immigration, and taxes before committing to growth. Regulatory relief is freeing up capital for technology and client investments, while deposit campaigns and market expansion in Texas and Florida drive growth. Loan growth is expected to accelerate in the year's second half.
Fiscal Year 2024
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Strong Q4 and full-year 2024 results featured EPS growth, margin expansion, and robust credit quality. Guidance for 2025 anticipates stable margins, modest loan growth, and continued capital returns, with technology investments and operational efficiencies supporting profitability.
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Management targets over 15% ROTCE in two to three years, focusing on profitability, balanced growth, and capital efficiency. 2025 outlook includes modest loan and deposit growth, disciplined expenses, and continued share buybacks, with strong credit performance and ongoing investments in technology and regulatory readiness.
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Loan and deposit growth remained strong in 2024, supported by robust Southeast markets and effective management of deposit costs. Technology investments and operational efficiencies position the bank for scalable growth, while regulatory and M&A environments are expected to become more favorable.
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Adjusted EPS rose to $0.42, with strong credit quality, stable NII, and robust fee income growth. CET1 ratio increased to 11.2%, and share repurchases continued. Outlook remains cautious due to rate uncertainty, but positive PPNR growth is expected in 2025.
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Management highlighted strong Southeast market positioning, ongoing technology investments, and a focus on organic growth. Credit quality remains robust, with plans to cross $100 billion in assets and maintain capital flexibility amid a competitive deposit environment.
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Adjusted EPS rose to $0.36 with stable revenue and strong credit, but deposit competition and funding mix shifts led to a more cautious NII outlook for 2024. CET1 remains at 11% with continued share buybacks, while CRE office exposure drove higher NPLs.
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Loan demand and deposit growth have slowed amid a higher-for-longer rate environment, with competition for deposits and loans remaining intense. Credit quality is strong, specialty businesses are performing well, and guidance for NII and expenses is reaffirmed. No M&A activity is planned, with a focus on organic growth.