Strong EPS Growth
First Horizon achieved an adjusted EPS of $0.51, marking a $0.06 increase from the previous quarter.
Net Interest Income and Margin Expansion
Net interest income grew by $33 million, and the net interest margin expanded by 15 basis points to 3.55%.
Deposits and Retention
Despite a decrease in brokered CDs, noninterest-bearing deposits increased by $131 million, with a retention rate of approximately 97% for clients with repricing events.
Capital and Share Buybacks
CET1 ratio remained at 11%, with $190 million in share buybacks completed, and more than $300 million in remaining buyback authorization.
Positive Loan Portfolio Performance
C&I portfolio grew with period-end balances up $174 million, and fee income increased by $26 million.