The reported loss translates to $0.20 per share, though the company noted that adjusted earnings reached $0.53 per share once notable items are excluded. These items, totaling $347 million after tax, stem primarily from the reclassification of the mortgage portfolio as held-for-sale. The transaction is slated to settle early in the fourth quarter.
In section Releases
First Horizon Posts Quarterly Loss Amid Strategic Mortgage Sale
First Horizon Corporation reported a net loss of $94 million for the third quarter of 2026, a result driven by the decision to offload approximately $4.5 billion in lower-yielding consumer mortgages. The bank expects the sale to improve future earnings and provide greater flexibility for loan growth.
Despite the bottom-line pressure from the restructuring, CEO Bryan Jordan highlighted operational stability, pointing to a $1.3 billion increase in average client deposits during the quarter. The bank, which manages $84.3 billion in assets, remains focused on expanding full client relationships while positioning its balance sheet to support long-term capital deployment.
Comments (0)
No comments yet. Be the first!