First Horizon Corporation
First Horizon Corp. is a Memphis-based financial holding company whose main banking subsidiary, First Horizon Bank, serves commercial, consumer, private banking, wealth, and mortgage clients. It operates a regional banking franchise across the southern and southeastern United States, combining traditional deposit and lending activities with fee businesses such as trust, brokerage, capital markets, and mortgage banking.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueBusiness deposits, credit facilities, treasury services, and related banking products for companies and institutions.
Retail deposits, consumer loans, and banking services for households and smaller operating businesses.
Advice, fiduciary, and relationship banking services for affluent individuals and families.
Mortgage origination, servicing, and related residential real estate finance activities.
Fee-based advisory, trading, and fixed income services supporting corporate and institutional clients.
Customers
First Horizon serves a mix of commercial borrowers, retail depositors, small businesses, and affluent households through its banking network and specialty businesses. Its client base is concentrated in the southern and southeastern U.S., where it benefits from long-standing local relationships and population growth in many of its markets.
Businesses that buy loans, deposits, treasury, and capital markets support for day-to-day operations and growth.
Households that use checking, savings, consumer lending, and branch-based banking services.
Local operating companies that need deposit accounts, credit lines, and payment services.
Affluent individuals and families that buy advisory, trust, and relationship banking services.
Homebuyers and homeowners using mortgage origination and related residential lending products.
Strategy
First Horizon is focused on running a relationship-driven regional bank with a broad product set across commercial, consumer, and wealth businesses. Management is also preparing for the regulatory burden that comes with approaching the $100 billion asset threshold while maintaining capital strength and funding flexibility.
A broader product mix increases customer retention and fee income while reducing reliance on spread income.
Population and economic growth in core markets supports deposit gathering and loan demand.
Approaching the $100 billion asset tier raises compliance costs and supervisory expectations.
Strong capital ratios support lending capacity, dividends, and resilience in a changing economy.
Geography
First Horizon is headquartered in Memphis, Tennessee and operates over 450 business locations in 24 states, with more than 400 banking centers in 12 states. Its principal markets are in the southern and southeastern United States, including major Gulf Coast markets and southern Atlantic seacoast markets, which gives it exposure to faster-growing but weather-sensitive regions.
Risks
The main risks are credit quality, regulatory change, and concentration in southern coastal markets that are exposed to hurricanes and other severe weather. As a bank nearing the next regulatory asset tier, First Horizon also faces rising compliance costs, tighter capital expectations, and litigation or policy risk that can affect earnings and capital deployment.
- Regulatory step-up near $100 billion assetsImpact: HighLikelihood: High
Crossing the threshold can trigger enhanced prudential standards and higher compliance costs.
Exposure - Credit deterioration and loan lossesImpact: High
As a commercial and consumer bank, earnings depend on borrower performance and reserve adequacy.
Exposure - Hurricane and severe-weather exposureImpact: High
Many core markets are coastal and economically tied to regions vulnerable to storms.
Exposure - Regulatory and litigation riskImpact: MediumLikelihood: High
Banks face changing rules, enforcement actions, and legal claims that can create volatile expenses.
Exposure - Capital constraint riskImpact: MediumLikelihood: Medium
Minimum capital ratios and buffers can limit dividends, repurchases, and balance-sheet growth.
Exposure
Accounting
Judgemental itemsProvision expense and reserve levels directly affect earnings and reflect management's view of portfolio risk.
Impact: Quarterly earnings and balance-sheet reserves
The company excludes certain AOCI effects from regulatory capital, which changes reported capital ratios versus GAAP equity.
Impact: CET1, Tier 1, and total capital ratios
These transactions can create non-recurring gains, losses, or capital changes that affect period comparability.
Impact: Interest expense, equity, and capital structure
Capital markets, fixed income, and securities activities rely on valuation inputs that can move with market conditions.
Impact: Noninterest income and balance-sheet valuations
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Last updated: 24/09/2026