First Horizon Corporation

First Horizon Corporation reported second-quarter net income of $260 million, up 12% year-over-year, with adjusted earnings per share rising 20% and beating the consensus estimate by a penny. Jim Cramer endorsed the stock as terrific and very inexpensive on his Mad Money show, but the shares now trade at 1.77 times tangible book value, a 10% premium to their 10-year average, suggesting the market has already priced in the strong results. Loans grew roughly $2 billion year-over-year, deposits increased $1.6 billion sequentially, and return on equity climbed above 15%, while aggressive buybacks shrank the share count by nearly 7%. Hedge fund ownership dipped to 54 funds from 57 in the prior quarter, yet institutional support remains robust, and short float fell to 2.73% from 3.50%.

First Horizon Corporation reported net income available to common shareholders of $260 million for the second quarter of 2026, a 12% increase from the same period last year. Diluted earnings per share rose 20% to $0.54, while adjusted pre-provision net revenue grew 8% to $364 million, driven by loan growth and relationship profitability. Net interest income on a taxable-equivalent basis reached $679 million, up $9 million sequentially, though net interest margin compressed three basis points to 3.49% due to higher deposit costs from brokered funding. Average loan balances increased $1.5 billion to $64.7 billion, with period-end loans at $65.3 billion, reflecting $1 billion in commercial loan growth. Period-end deposits rose $1.6 billion to $68.1 billion, primarily from brokered deposits, while the cumulative deposit beta since September 2024 stood at 66%. The company repurchased $100 million in shares and reiterated full-year 2026 revenue growth guidance of 3% to 7%.

First Horizon Corporation expects an approximate 10% reduction in risk-weighted assets under the standardized approach of the proposed Basel III rules, while managing its Common Equity Tier 1 ratio around 10.5%. Senior EVP and CFO Hope Dmuchowski disclosed the RWA estimate during the company's second-quarter 2026 earnings call, where management also reiterated its full-year framework amid rate-path uncertainty. The bank reported adjusted earnings per share of $0.54, up $0.01 from the prior quarter, and period-end loan growth of $953 million driven by $1 billion in commercial loan growth. Dmuchowski noted that net interest margin compressed by 3 basis points to settle in the high 3.40s, while the average rate paid on interest-bearing deposits increased to 2.33%. The company repurchased 4 million shares for $100 million during the quarter and emphasized that loan growth remains the top capital priority, followed by dividends and buybacks.

Merger-and-acquisition activity among U.S. regional banks reached $15.1 billion in the first six months of 2026, the highest level in seven years. Several large deals that were announced in 2025 closed early this year, including PNC Financial Services' merger with FirstBank, Pinnacle Financial Partners' merger with Synovus, Fifth Third's merger with Comerica, and Huntington Bancshares' acquisition of Cadence Bank. These transactions have expanded the acquirers' geographic footprints and deposit bases, and the favorable regulatory climate along with valuation disparities could fuel further consolidation. Potential takeover targets include KeyCorp and Eastern Bankshares, which have faced shareholder activist pressure, as well as lower-valued banks such as First Horizon, FNB Corporation, and Webster Financial.

First Horizon Bank has appointed Craig Bechtel as Specialty Director and Group Head of its Corporate Healthcare team. Bechtel will lead the team in providing capital and financial services to healthcare clients nationwide, guiding strategic efforts to deliver tailored financial solutions. Kevin Beeson, Executive Vice President and Director of Specialty Banking, highlighted Bechtel's industry knowledge and client-first approach. First Horizon Corp. reported $84.1 billion in assets as of March 31, 2026.

First Horizon Bank has expanded its Atlanta leadership team with the addition of two commercial banking leaders, a private client leader, a trust services regional manager, and a retail market manager. Daniel Bolongaro and Tom Mabon join as senior vice presidents and commercial banking leaders, bringing more than 25 and 35 years of experience respectively. Jeff Fairchild has been promoted to senior vice president and private client leader, while Crystal Aldredge joins as senior vice president and trust services regional manager with over 21 years of experience. Leon Blue has been named senior vice president and retail market manager, overseeing retail banking operations across Georgia and parts of North Florida. The appointments reflect the bank's momentum in the Atlanta market, according to executives Alex Morton and Hunter Hill.