First Horizon Announces $1.2 Billion Share Repurchase Program, Declares Cash Dividends on Common and Preferred Stock

MEMPHIS, Tenn., Oct. 27, 2025 /PRNewswire/ -- First Horizon Corporation (NYSE: FHN or the "Company") today announced that its board of directors has authorized a new $1.2 billion common stock repurchase program to replace the Company's prior repurchase program, effective as of the close of business on October 27, 2025. This new authorization will expire on January 31, 2027. The terminated program had approximately $180 million of remaining authorization and was set to expire on January 31, 2026.

Additionally, the board of directors declared a quarterly cash dividend of $0.15 per share on FHN's common stock. The dividend is payable on January 2, 2026, to shareholders of record at the close of business on December 12, 2025.

"Our strong capital position and capital generation support our ability to grow our balance sheet and return excess capital to our shareholders," said Chairman of the Board, President and Chief Executive Officer Bryan Jordan.

FHN common share repurchases may be executed in the open market or through privately negotiated transactions, including under Rule 10b5-1 plans and accelerated share repurchase and other structured transactions. The timing and exact amount of common share repurchases will be at the discretion of senior management and subject to various factors including the Company's capital position, financial performance, capital impacts of strategic initiatives, market conditions and regulatory considerations.

Preferred Dividend Information

Cash dividends were also declared on the Company's 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 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 (NYSE:FHN), each of which represents a 1/400th interest in a share of the Series C Preferred Stock. The dividend is payable on February 2, 2026, to shareholders of record at the close of business on January 16, 2026.

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 (NYSE:FHN), each of which represents a 1/4,000th interest in a share of the Series E Preferred Stock. The dividend is payable on January 12, 2026, to shareholders of record at the close of business on December 26, 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 (NYSE:FHN), each of which represents a 1/4,000th interest in a share of the Series F Preferred Stock. The dividend is payable on January 12, 2026, to shareholders of record at the close of business on December 26, 2025.

First Horizon Bank Class A

Quarterly cash dividend of $13.15736 per share on First Horizon Bank's Class A Non-Cumulative Perpetual Preferred Stock. The dividend is payable on January 12, 2026, to shareholders of record at the close of business on December 26, 2025.

About First Horizon

First Horizon Corp. (NYSE:FHN), with $83.2 billion in assets as of September 30, 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 concentrated in 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