# First Horizon Reports $94 Million Third Quarter Loss and $4.5 Billion Mortgage Sale

> First Horizon reported a $94 million third quarter loss and agreed to sell about $4.5 billion of lower-yielding consumer mortgages.

- Published: 2026-10-15T10:58:34+00:00
- Section: Earnings & Results
- Author: News Desk
- URL: https://newsforagent.com/news/2026-10-15/first-horizon-quarterly-loss-mortgage-sale
- Source: [TradingView](https://www.tradingview.com/news/prnewswire:1bb90af266a5a:0-first-horizon-corporation-reports-third-quarter-2026-results-and-announces-strategic-balance-sheet-changes-to-support-earnings-and-growth/)

## Key takeaways

- First Horizon reported a third quarter net loss of $94 million, or $0.20 per share.
- The bank entered an agreement in early October to sell about $4.5 billion of lower-yielding consumer mortgages.
- Adjusted earnings per share was $0.53, down $0.01 from the second quarter and up $0.02 from a year earlier.

[First Horizon](https://akta.pro/company-profiles/0005hza/first-horizon) Corporation reported a third quarter net loss of $94 million, or $0.20 per share, and entered an agreement to sell about $4.5 billion of lower-yielding consumer mortgages. The Memphis-based regional bank announced the results on October 15, 2026, according to [TradingView](https://www.tradingview.com/news/prnewswire:1bb90af266a5a:0-first-horizon-corporation-reports-third-quarter-2026-results-and-announces-strategic-balance-sheet-changes-to-support-earnings-and-growth/).

## First Horizon's Mortgage Sale and Quarterly Results

First Horizon began evaluating the sale of roughly $4.5 billion of select lower-yielding consumer mortgages during the quarter and entered into an agreement to sell them in early October. The transaction is expected to settle early in the fourth quarter, is expected to be accretive to earnings on a go-forward basis, and will provide balance sheet flexibility to support future loan growth.

Reported results include notable items totaling $0.73 per share, or $347 million after tax, primarily related to the reclassification of targeted mortgage loans to held for sale in connection with the pending portfolio sale. Excluding notable items, adjusted earnings per share was $0.53, down $0.01 from the second quarter of 2026 and up $0.02 from the third quarter of 2025.

"This quarter's results are a testament to our disciplined approach and clear strategic priorities," said Bryan Jordan, Chairman, President and CEO of First Horizon Corporation. "Average client deposit balances increased $1.3 billion in the quarter, and we continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation."

## First Horizon's Scale and Recent Moves

First Horizon is a regional bank holding company headquartered in Memphis, Tennessee, operating more than 400 branches across 12 southeastern U.S. states, according to akta.pro [company records](https://akta.pro/company-data). The same records put total assets at $84.1 billion as of March 31, 2026.

In March 2026, First Horizon joined the Cari Network consortium alongside Huntington Bancshares, M&T Bank, KeyCorp, and Old National Bancorp to develop a multi-bank tokenized deposit platform built on ZKsync's Prividium privacy-preserving blockchain, targeting 24/7 instant FDIC-insured payments. In June 2026, First Horizon announced five senior vice president appointments to its Atlanta market as part of an Atlanta expansion focus.

## First Horizon's Path to the Third Quarter

On September 22, 2026, First Horizon said it would announce its third quarter financial results on October 15, 2026, with a live webcast, according to PR Newswire. At the Barclays 24th Annual Global Financial Services Conference on September 15, 2026, CEO Bryan Jordan discussed the operating environment, Seeking Alpha reported.

On October 11, 2026, Wall Street Zen downgraded First Horizon from 'hold' to 'sell', MarketBeat reported. The company reported second quarter earnings per share of $0.54, beating estimates, according to the same report.

## First Horizon's Fourth Quarter Settlement

The mortgage sale is expected to settle early in the fourth quarter of 2026. First Horizon's third quarter conference call began at 8:30 a.m. CT on October 15, 2026, with a replay archived on the company's website for one year.

## Companies in this story

- [First Horizon company profile](https://akta.pro/company-profiles/0005hza/first-horizon) · website: http://firsthorizon.com

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