FIRST HORIZON CORP
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 5, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Non-GAAP Information
PART I, ITEM 2. MANAGEMENT'S DISCUSSION & ANALYSIS (MD&A)
Table of Contents
Non-GAAP Information
Table I.2.28
NON-GAAP TO GAAP RECONCILIATION
| Three Months Ended | Nine Months Ended | |||
|---|---|---|---|---|
| (Dollars in millions; shares in thousands) | September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 |
| Pre-provision Net Revenue (Non-GAAP) | ||||
| Net interest income (GAAP) | $683 | $674 | $2,026 | $1,946 |
| Plus: Noninterest income (GAAP) | (276) | 215 | 129 | 585 |
| Total revenues (GAAP) | 407 | 889 | 2,155 | 2,531 |
| Less: Noninterest expense (GAAP) | 529 | 550 | 1,564 | 1,529 |
| Pre-provision net revenue (Non-GAAP) | $(122) | $339 | $591 | $1,002 |
| Tangible Common Equity (Non-GAAP) | ||||
| (A) Total equity (GAAP) | $9,125 | $9,244 | $9,125 | $9,244 |
| Less: Noncontrolling interest (a) | 295 | 295 | 295 | 295 |
| Less: Preferred stock (a) | 682 | 349 | 682 | 349 |
| (B) Total common equity | 8,148 | 8,600 | 8,148 | 8,600 |
| Less: Goodwill and other intangible assets (GAAP)(b) | 1,591 | 1,624 | 1,591 | 1,624 |
| (C) Tangible common equity (Non-GAAP) | $6,557 | $6,976 | $6,557 | $6,976 |
| Tangible Assets (Non-GAAP) | ||||
| (D) Total assets (GAAP) | $84,318 | $83,192 | $84,318 | $83,192 |
| Less: Goodwill and other intangible assets (GAAP) (b) | 1,591 | 1,624 | 1,591 | 1,624 |
| (E) Tangible assets (Non-GAAP) | $82,727 | $81,568 | $82,727 | $81,568 |
| Average Tangible Common Equity (Non-GAAP) | ||||
| Average total equity (GAAP) | $9,558 | $9,224 | $9,417 | $9,144 |
| Less: Average noncontrolling interest (a) | 295 | 295 | 295 | 295 |
| Less: Average preferred stock (a) | 682 | 350 | 601 | 401 |
| (F) Total average common equity | 8,581 | 8,579 | 8,521 | 8,448 |
| Less: Average goodwill and other intangible assets (GAAP) (b) | 1,595 | 1,628 | 1,603 | 1,638 |
| (G) Average tangible common equity (Non-GAAP) | $6,986 | $6,951 | $6,918 | $6,810 |
| Net Income Available to Common Shareholders | ||||
| (H) Net income (loss) available to common shareholders (annualized) (GAAP) | $(372) | $1,007 | $567 | $935 |
| Period-end Shares Outstanding | ||||
| (I) Period-end shares outstanding | 473,839 | 500,368 | 473,839 | 500,368 |
| Ratios | ||||
| (A)/(D) Total period-end equity to period-end assets (GAAP) | 10.82% | 11.11% | 10.82% | 11.11% |
| (C)/(E) Tangible common equity to tangible assets (Non-GAAP) | 7.93 | 8.55 | 7.93 | 8.55 |
| (H)/(F) Return on average common equity (GAAP) | (4.34) | 11.74 | 6.65 | 11.07 |
| (H)/(G) Return on average tangible common equity (Non-GAAP) | (5.33) | 14.49 | 8.19 | 13.73 |
| (B)/(I) Book value per common share (GAAP) | $17.20 | $17.19 | $17.20 | $17.19 |
| (C)/(I) Tangible book value per common share (Non-GAAP) | $13.84 | $13.94 | $13.84 | $13.94 |
(a) Included in total equity on the Consolidated Balance Sheets.
(b) Includes goodwill and other intangible assets, net of amortization.
| 108 | 3Q26 FORM 10-Q REPORT |
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