First Horizon Corporation

firsthorizon.com

What Do They Do?

Provides commercial and consumer banking and wealth services to businesses and consumers, plus fixed-income services to institutional clients.

How Do They Make Money?

Earns interest on loans and investment securities, less the interest it pays on deposits and borrowed funds, and also collects fees for banking and financial services. Transaction fees come in when a transaction is completed; service fees are earned over the period the service is provided.

revenue

Segment	Share	Revenue
Commercial, Consumer & Wealth	89% FY2022: 86%
Wholesale	14% FY2022: 16%
Corporate	−3.0% FY2022: −1.5%

Who Are Their Customers?

Serves commercial and consumer clients mainly in the southern U.S. and selected markets, as well as institutional clients in the U.S. and abroad through its wholesale businesses.

Do Revenues Turn Into Profits?

Yes. It kept 29 cents of every revenue dollar as net income in FY2025 and turned 17 cents into free cash flow.

Net income, FY2025

29% of revenue

▲ +27% vs FY2024 ($775M, 24%)

Free cash flow, FY2025

17% of revenue

▼ −51% vs FY2024 ($1.2B, 38%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +7%; vs $830M in Q2 FY2025
Net income: ▲ +12%; vs $241M in Q2 FY2025

Commercial, Consumer & Wealth share of revenue vs 91.1% in Q2 FY2025

Growing. Revenue grew 7% in 3 years, from $3.2B in FY2022 to $3.4B in FY2025, about 2% a year.

Revenue over time

Commercial, Consumer & Wealth Wholesale Corporate

$5B$2.5B$0

FY2022 FY2023 FY2024 FY2025

Who Do They Compete With?

Competes with Bank of America, Fifth Third Bank, First Citizens Bank, Hancock Whitney Bank, Huntington National Bank, JPMorgan Chase Bank, Regions Bank, Pinnacle Bank, PNC Bank, Truist Bank, and Wells Fargo Bank

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