Press Release: First Horizon Bank Joins Fedex St. Jude Championship As 2025 Official Financial Services Sponsor

First Horizon Declares Cash Dividends on Common and Preferred Stock

PR Newswire

MEMPHIS, Tenn., April 29, 2025

MEMPHIS, Tenn., April 29, 2025 /PRNewswire/ — First Horizon Corporation ( or the "Company") today announced that its board of directors declared a quarterly cash dividend of $0.15 per share on FHN's common stock. The dividend is payable on July 1, 2025, to shareholders of record at the close of business on June 13, 2025.

Preferred Dividend Information

Cash dividends were also declared on the Company's Series B, Series C, Series E and Series F Preferred Stock, and on First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock, as follows:

FHN Series B

Semi-annual cash dividend of $331.25 per share on FHN's 6.625% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series B ("Series B Preferred Stock"). This equates to a cash dividend of $0.828125 per Depositary Share ( PRB), each of which represents a 1/400th interest in a share of the Series B Preferred Stock. The dividend is payable on August 1, 2025, to shareholders of record at the close of business on July 17, 2025.

FHN Series C

Quarterly cash dividend of $165.00 per share on FHN's 6.60% Fixed-to-Floating Non-Cumulative Perpetual Preferred Stock, Series C ("Series C Preferred Stock"). This equates to a cash dividend of $0.4125 per Depositary Share ( PRC), each of which represents a 1/400th interest in a share of the Series C Preferred Stock. The dividend is payable on August 1, 2025, to shareholders of record at the close of business on July 17, 2025.

FHN Series E

Quarterly cash dividend of $1,625.00 per share on FHN's 6.50% Non-Cumulative Perpetual Preferred Stock, Series E ("Series E Preferred Stock"). This equates to a cash dividend of $0.40625 per Depositary Share ( PRE), each of which represents a 1/4,000th interest in a share of the Series E Preferred Stock. The dividend is payable on July 10, 2025, to shareholders of record at the close of business on June 25, 2025.

FHN Series F

Quarterly cash dividend of $1,175.00 per share on FHN's 4.70% Non-Cumulative Perpetual Preferred Stock, Series F ("Series F Preferred Stock"). This equates to a cash dividend of $0.29375 per Depositary Share ( PRF), each of which represents a 1/4,000th interest in a share of the Series F Preferred Stock. The dividend is payable on July 10, 2025, to shareholders of record at the close of business on June 25, 2025.

First Horizon Bank Class A

Quarterly cash dividend of $13.45240 per share on First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock. The dividend is payable on July 10, 2025, to shareholders of record at the close of business on June 25, 2025.

About First Horizon

First Horizon Corporation , with $81.5 billion in assets as of March 31, 2025, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

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SOURCE First Horizon Corporation

Bank of Hawaii Corporation BOH reported first-quarter 2025 adjusted earnings per share (EPS) of 97 cents, beating the Zacks Consensus Estimate of 89 cents. The bottom line compared favorably with 87 cents in the year-ago quarter.

BOH’s results benefited from the increase in net interest income (NII) and strong fee income growth. A rise in loans and deposits was another positive. However, a rise in expenses and weak asset quality were spoilsports.

The company’s net income (GAAP basis) came in at $43.9 million, up 20.9% year over year.

Bank of Hawaii’s Quarterly Revenues & Expenses Rise

BOH’s quarterly revenues increased 8.8% year over year to $169.9 million. The top line surpassed the Zacks Consensus Estimate by 1.3%.

NII was $125.8 million, up 10.4% year over year. NIM increased 21 basis points to 2.32%. Our estimate for NII and NIM was pegged at $123 million and 2.21%, respectively.

Non-interest income came in at $44.1 million, up 4.2% year over year. This rise was primarily driven by an increase in trust and asset management income, service charges on deposit accounts, bank-owned life insurance income, and annuity and insurance income. Our estimate for the metric was pinned at $44.8 million.

Non-interest expenses rose 4.3% to $110.5 million. The increase was primarily due to higher salaries and benefits, and other expenses, partially offset by lower FDIC insurance and professional fees. Our estimate for the metric was pinned at $114.1 million.

The efficiency ratio was 65.03%, down from 67.76% in the year-ago period. A fall in the efficiency ratio reflects increased profitability.

BOH’s Loans & Deposits Increase

As of March 31, 2025, total loans and leases increased marginally from the prior quarter’s end to $14.1 billion. Our estimate for total loans and leases was $13.7 billion.

Total deposits moved up 1.8% sequentially to $21 billion. Our estimate for total deposits was $22.1 billion.

Bank of Hawaii’s Credit Quality Deteriorates

As of March 31, 2025, non-performing assets were $17.5 million, which jumped 47.4% year over year. Our estimate for the metric was pegged at $14.9 million.

Net loans and lease charge-offs were $4.4 million, up $2.3 million from the year-ago quarter. Our estimate for the metric was pegged at $3.5 million.

Provision for credit losses was $3.3 million, up 62.5% from the year-ago quarter. Our estimate for the metric was pegged at $2.4 million.

The allowance for credit losses rose marginally to $147.7 million. Our estimate for the metric was pegged at $147.4 million.

BOH’s Capital Ratios Improve

As of March 31, 2025, the Tier 1 capital ratio was 13.93%, up from 12.74% as of March 31, 2024. The total capital ratio was 14.97%, which rose from 13.81% in the year-ago period.

The ratio of tangible common equity to risk-weighted assets was 9.28%, which increased from 8.70% at the end of the year-ago quarter.

Bank of Hawaii’s Profitability Ratios Improve

Return on average assets was 0.75% at the end of the first quarter of 2025, which increased from 0.63% in the prior-year quarter. Return on average shareholders' equity was 10.65%, up from 10.34% as of March 31, 2024.

BOH's Share Repurchase Update

In the reported quarter, Bank of Hawaii did not repurchase any shares. As of March 31, 2025, the total remaining buyback authority under the share repurchase program was $126 million.

Our View on Bank of Hawaii

A rise in NII and fee income will support top-line growth. A solid capital position and a rise in loan and deposit balances were other positives. However, weak credit quality and a rise in expenses are near-term concerns.

Bank of Hawaii Corporation Price, Consensus and EPS Surprise

Bank of Hawaii Corporation price-consensus-eps-surprise-chart | Bank of Hawaii Corporation Quote

Currently, BOH carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of Other Banks

Synovus Financial Corp. SNV reported first-quarter 2025 adjusted earnings per share of $1.30, which surpassed the Zacks Consensus Estimate of $1.11 per share. This compares with earnings of 79 cents per share a year ago. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

SNV’s results benefited from strong year-over-year growth in NII, and a fall in expenses and provisions for credit losses. Also, improving loan balances was a tailwind. However, a decline in non-interest revenues was a major headwind.

First Horizon Corporation’s FHN first-quarter 2025 adjusted earnings per share (excluding notable items) of 42 cents surpassed the Zacks Consensus Estimate of 40 cents. This compares favorably with 35 cents in the year-ago quarter.

FHN’s results benefited from a marginal rise in NII and a decline in expenses. Also, lower provisions were another positive. However, a fall in fee income and a deteriorating capital position were major headwinds.

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research

Shares of BOK Financial Corporation BOKF lost 2.3% in after-hours trading in response to lower-than-expected first-quarter 2025 results. Earnings of $1.86 per share lagged the Zacks Consensus Estimate of $2.01. However, the bottom line grew 44.2% from the prior-year quarter.

BOKF’s results were adversely impacted by lower total fees and commissions, the decline in loan balance and higher operating expenses. On the other hand, higher net interest income (NII), a rise in deposits and the absence of provisions offered some support.

Net income attributable to shareholders was $119.8 million, jumping 43.1% year over year.

BOKF’s Revenues Rise, Expenses Up

Quarterly net revenues of $502.3 million (net interest income and total other operating revenues) rose 10.3% year over year. The top line missed the Zacks Consensus Estimate of $518.5 million. 

Net interest income was $316.3 million, up 7.7%. The net interest margin expanded 17 basis points to 2.78%.

Total fees and commissions were $184.1 million, down 8.2%. The fall was mainly due to lower brokerage and trading revenues.

Total other operating expenses were $347.5 million, up 2.1% year over year. This rise mainly resulted from higher personnel expenses.

The efficiency ratio rose to 68.31% from the prior year’s 67.13%. A rise in the efficiency ratio indicates a deterioration in profitability.

BOK Financial’s Loan Balance Declines, Deposits Rise

As of March 31, 2025, total loans were $23.7 billion, down 1.8% from the prior quarter. The decline was primarily due to a fall in commercial loans, partially offset by growth in commercial real estate loans and loans to individuals.

Total deposits rose 1.4% sequentially to $38.4 billion. The increase was driven by interest-bearing transaction deposits and savings.

BOKF Credit Quality Improves

Non-performing assets were $85 million or 0.36% of outstanding loans and repossessed assets as of March 31, 2025, which decreased from $122.4 million or 0.51% in the prior-year quarter.

The company recorded nil provisions for credit losses compared with $8 million in the prior-year quarter. BOKF recorded net charge-offs of $1.1 million, down 79.8%. 

The allowance for loan losses was 1.18% of outstanding loans as of March 31, 2025, which grew 1 bp from the year-ago quarter.

BOKF’s Capital & Profitability Ratios Improve

As of March 31, 2025, the common equity Tier 1 capital ratio was 13.31%, up from 11.99% as of March 31, 2024. The tier 1 capital ratio and total capital ratio were 13.31% and 14.54% compared with 12.00% and 13.15%, respectively, as of March 31, 2024.

At the end of the first quarter, return on average equity was 8.59%, up from the year-earlier quarter’s 6.53%. Return on average assets was 0.95%, up from 0.67% a year ago.

BOK Financial’s Share Repurchase Update

During the reported quarter, BOK Financial repurchased 10,000 shares for $0.99 million.

Our View on BOK Financial

BOK Financial’s solid loan and deposit balance will continue to support its top-line growth. Further, improving asset quality is a major positive for the company amid a challenging operating backdrop.

BOK Financial Corporation Price, Consensus and EPS Surprise

BOK Financial Corporation price-consensus-eps-surprise-chart | BOK Financial Corporation Quote

Currently, BOK Financial carries a Zacks Rank #4 (Sell). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performance of BOKF’s Peer Banks

Here are the performances of BOK Financial’s peer banks. (See the Zacks Earnings Calendar to stay ahead of market-making news.)

First Horizon Corporation’s FHN first-quarter 2025 adjusted earnings per share (excluding notable items) of 42 cents surpassed the Zacks Consensus Estimate of 40 cents. This compares favorably with 35 cents reported in the year-ago quarter.

Results benefited from a marginal rise in NII and a decline in expenses. Lower provisions were another positive. However, a fall in fee income and a deteriorating capital position were major headwinds for First Horizon.

Texas Capital Bancshares, Inc. TCBI reported first-quarter 2025 adjusted earnings per share of 92 cents, which missed the Zacks Consensus Estimate of 99 cents. However, the figure compared favorably with 62 cents in the year-ago quarter.

TCBI's results were adversely impacted by a rise in expenses and a decline in the loan balance. Nonetheless, an increase in NII, non-interest income and higher deposit balances acted as a tailwind.

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research