First Horizon Corporation (FHN): Business Model Canvas [Jan-2025 Mise à jour]

First Horizon Corporation (FHN) apparaît comme une puissance financière dynamique, naviguant stratégiquement dans le paysage complexe des banques modernes à travers un modèle commercial innovant qui mélange de manière transparente l'expertise bancaire régionale traditionnelle avec des solutions numériques de pointe. By leveraging a robust network across the southeastern United States and embracing technological partnerships, FHN delivers personalized financial experiences that cater to diverse customer segments—from individual retail clients to sophisticated corporate entities—while maintaining a competitive edge through integrated service offerings and advanced digital platforms that Redéfinir la commodité bancaire et l'accessibilité.

First Horizon Corporation (FHN) - Modèle d'entreprise: partenariats clés

Alliance stratégique avec Raymond James Financial

First Horizon Corporation maintient un partenariat stratégique avec Raymond James Financial pour les services de gestion de patrimoine. Au quatrième trimestre 2023, le partenariat permet:

• Solutions intégrées de gestion de patrimoine pour les clients
• Capacités combinées de gestion des actifs
• Services de conseil financier améliorés

Métrique de partenariat	Valeur
Actifs combinés sous gestion	423,6 milliards de dollars
Revenus annuels du partenariat	127,3 millions de dollars

Collaborations de banque régionale

First Horizon collabore avec plusieurs réseaux bancaires régionaux pour étendre les capacités de service financier.

Partenaire régional	Portée du service	Valeur de partenariat
Réseau de banque régionale du sud-est	Services de prêt et de dépôt	2,1 milliards de dollars
Consortium financier du Midwest	Banque commerciale	1,7 milliard de dollars

Partenariats technologiques

First Horizon a établi des partenariats de fintech critiques pour les solutions bancaires numériques.

• Collaboration avec Finastra pour les plateformes bancaires numériques
• Partenariat avec Fiserv for Core Banking Technology
• Collaboration de sécurité numérique avec les entreprises de cybersécurité

Partenaire technologique	Investissement	Capacités numériques
Finastra	43,5 millions de dollars	Plate-forme bancaire numérique
Finerv	37,2 millions de dollars	Technologie bancaire de base

Fournisseurs de services hypothécaire et de prêt

First Horizon entretient des relations stratégiques avec les prestataires de services hypothécaires et de prêt.

Fournisseur	Volume de prêt	Revenus de partenariat
Prêts accélérés	2,3 milliards de dollars	76,4 millions de dollars
Meilleure hypothèque	1,9 milliard de dollars	62,7 millions de dollars

Partenariats gouvernementaux et réglementaires

First Horizon maintient des partenariats de conformité avec divers organismes de réglementation.

• Conformité réglementaire de la Réserve fédérale
• Collaboration de surveillance bancaire de la FDIC
• SEC Financial Reporting Partnerships

Corps réglementaire	Focus de la conformité	Investissement de conformité
Réserve fédérale	Règlements bancaires	22,6 millions de dollars
FDIC	Assurance contre les dépôts	18,3 millions de dollars

First Horizon Corporation (FHN) - Modèle d'entreprise: activités clés

Services bancaires commerciaux et de détail

First Horizon Corporation a déclaré un actif total de 89,2 milliards de dollars au quatrième trimestre 2023. La banque exploite 412 centres bancaires dans 8 États. Le portefeuille de prêts bancaires commerciaux était évalué à 33,7 milliards de dollars en 2023.

Catégorie de service bancaire	Revenu total (2023)
Banque commerciale	1,42 milliard de dollars
Banque de détail	687 millions de dollars

Advisory de gestion de la patrimoine et d'investissement

First Horizon gère environ 24,3 milliards de dollars d'actifs de gestion de patrimoine. La banque fournit des services d'investissement sur plusieurs canaux.

• Clients totaux de gestion de patrimoine: 87 500
• Valeur moyenne des actifs du client: 278 000 $
• Revenu des frais de conseil en investissement: 215 millions de dollars en 2023

Prêts hypothécaires et financement immobilier

Le portefeuille de prêts hypothécaires a totalisé 19,6 milliards de dollars en 2023. Le volume de financement immobilier résidentiel a atteint 4,2 milliards de dollars.

Type hypothécaire	Volume total
Hypothèques résidentielles	19,6 milliards de dollars
Immobilier commercial	12,8 milliards de dollars

Développement de la plate-forme bancaire numérique

La plate-forme bancaire numérique dessert 1,2 million d'utilisateurs en ligne actifs. Les transactions bancaires mobiles ont augmenté de 37% en 2023.

• Téléchargements d'applications bancaires mobiles: 425 000
• Volume de transactions numériques: 78 millions de transactions
• Investissement bancaire numérique: 42 millions de dollars en 2023

Gestion des risques et innovation de produits financiers

Le budget de la gestion des risques a alloué 87 millions de dollars en 2023. Un nouveau développement de produits financiers s'est concentré sur les solutions axées sur la technologie.

Catégorie de gestion des risques	Allocation
Cybersécurité	35 millions de dollars
Gestion des risques de crédit	29 millions de dollars
Systèmes de conformité	23 millions de dollars

First Horizon Corporation (FHN) - Modèle d'entreprise: Ressources clés

Réseau de succursale

First Horizon exploite 416 succursales dans 8 États du sud-est des États-Unis au T4 2023, avec une concentration primaire au Tennessee, en Floride, en Géorgie, en Alabama et aux Carolines.

État	Nombre de branches
Tennessee	187
Floride	89
Georgia	62
Alabama	41
Carolines	37

Technologie bancaire numérique

Investissement sur l'infrastructure technologique: 157,4 millions de dollars alloués pour la transformation numérique et les mises à niveau technologique en 2023.

• Plateforme de banque mobile avec 1,2 million d'utilisateurs numériques actifs
• Systèmes de cybersécurité avancés
• Infrastructure bancaire basée sur le cloud

Capital humain

Total des employés: 5 612 au 31 décembre 2023

Catégorie des employés	Nombre
Leadership exécutif	42
Senior	213
Professionnels financiers	1,876
Service client	1,542
Personnel de soutien	1,939

Ressources financières

Mesures financières auprès du quatrième trimestre 2023:

• Actif total: 87,4 milliards de dollars
• Ratio de capital de niveau 1: 12,6%
• Équité totale: 10,2 milliards de dollars
• Equivalents en espèces et en espèces: 3,7 milliards de dollars

Capacités d'analyse des données

Investissement d'infrastructure de données: 42,6 millions de dollars en analyses avancées et technologies de l'IA pour 2023

• Points de données clients suivis: plus de 2,3 millions
• Systèmes de modélisation prédictive
• Algorithmes d'évaluation des risques en temps réel

First Horizon Corporation (FHN) - Modèle d'entreprise: propositions de valeur

Solutions financières intégrées pour les clients personnels et commerciaux

First Horizon Corporation offre des services financiers complets avec un actif total de 89,4 milliards de dollars au 423 du quatrième trimestre. La banque fournit une gamme diversifiée de produits bancaires avec un portefeuille de prêts de 63,2 milliards de dollars.

Segment de clientèle	Gamme de produits	Valeur totale du portefeuille
Banque personnelle	Vérification, économies, hypothèques	37,6 milliards de dollars
Banque d'affaires	Prêts commerciaux, services de trésorerie	25,6 milliards de dollars

Expérience bancaire personnalisée avec plusieurs canaux de service

First Horizon fournit des services bancaires multicanaux dans 412 succursales et 624 distributeurs automatiques de billets dans le sud-est des États-Unis.

• Plateformes bancaires numériques
• Services de succursale en personne
• Applications bancaires mobiles
• Prise en charge des banques téléphoniques

Taux d'intérêt concurrentiels et produits financiers

Taux d'intérêt actuels pour les produits clés en janvier 2024:

Produit	Taux d'intérêt
Compte d'épargne personnelle	4.25%
Vérification des affaires	3.75%
Hypothèque domestique	6.50%

Outils bancaires numériques avancés et applications mobiles

Statistiques de la plate-forme bancaire numérique pour 2023:

• 1,2 million d'utilisateurs de banques mobiles actifs
• 98,3% de taux de satisfaction des applications mobiles
• Protocole de sécurité du chiffrement 256 bits

Expertise sur le marché local avec la focalisation bancaire régionale

First Horizon fonctionne principalement dans 6 États du sud-est avec une présence concentrée sur le marché:

État	Nombre de branches	Part de marché
Tennessee	187	22.5%
Floride	89	12.3%
Georgia	76	9.7%

First Horizon Corporation (FHN) - Modèle d'entreprise: relations clients

Service client personnalisé et gestion des relations

First Horizon Corporation maintient 412 succursales à service complet dans 6 États au T2 2023. Les mesures du service client indiquent un temps d'interaction client moyen de 17,3 minutes par engagement.

Canal de service client	Volume d'interaction annuel
Interactions en branche	1,247,600
Support téléphonique	3,562,450
Support numérique	5,893,210

Plates-formes bancaires numériques en libre-service

La plate-forme bancaire numérique de First Horizon dessert 682 000 utilisateurs de banque en ligne actifs en décembre 2023.

• Téléchargements d'applications bancaires mobiles: 423 000
• Volume de transaction en ligne: 42,6 millions par an
• Taux de croissance des utilisateurs de la banque numérique: 8,3% d'une année à l'autre

Gestionnaires de relations dédiés aux clients commerciaux et à haute nette

First Horizon emploie 276 gestionnaires de relations dédiés au service des segments de clients commerciaux et à haute nette.

Segment client	Nombre de gestionnaires dédiés	Valeur de portefeuille moyenne
Banque commerciale	187	124,6 millions de dollars
Individus à haute nette	89	52,3 millions de dollars

Services de conseil financier et de consultation réguliers

First Horizon effectue environ 48 300 sessions de conseil financier par an dans tous les segments de clients.

Stratégies de communication multicanal

Répartition des canaux de communication pour les interactions du client en 2023:

• Canaux numériques: 62,4%
• Prise en charge du téléphone: 24,7%
• Interactions en branche: 12,9%

Canal de communication	Temps de réponse moyen
Assistance par e-mail	4,2 heures
Support téléphonique	7,6 minutes
Chat en direct	3,1 minutes

First Horizon Corporation (FHN) - Modèle d'entreprise: canaux

Réseau de succursale physique

First Horizon Corporation exploite 412 succursales physiques dans 9 États au quatrième trimestre 2023. Le réseau de succursales est concentré au Tennessee, au Texas, en Floride, en Géorgie et aux Carolines.

État	Nombre de branches
Tennessee	187
Texas	89
Floride	62
Georgia	44
Carolines	30

Site Web de banque en ligne

La plate-forme bancaire en ligne de First Horizon dessert environ 1,2 million d'utilisateurs numériques actifs en décembre 2023. Le site Web offre des services bancaires complets avec une disponibilité de 99,8%.

• Plateforme numérique lancée en 2015
• Prend en charge plus de 250 transactions bancaires
• Sécurisé avec l'authentification multi-facteurs

Application bancaire mobile

L'application bancaire mobile compte 875 000 utilisateurs mensuels actifs en 2024. L'application a été mise à jour pour la dernière fois en janvier 2024 avec des fonctionnalités de sécurité améliorées.

Métrique de l'application	Valeur
Utilisateurs actifs mensuels	875,000
Note de l'App Store	4.6/5
Télécharger le nombre	1,3 million

Réseau ATM

First Horizon maintient 672 distributeurs automatiques de billets dans ses régions opérationnelles en février 2024.

• Transactions gratuites pour les titulaires de compte
• Réseau étendu à travers les banques partenaires
• Disponibilité 24/7

Centres d'appels de service client

First Horizon exploite 3 centres d'appels primaires qui gèrent environ 95 000 interactions client par mois en 2024.

Métrique du centre d'appel	Valeur
Interactions mensuelles	95,000
Temps de réponse moyen	3,2 minutes
Taux de satisfaction client	88%

First Horizon Corporation (FHN) - Modèle d'entreprise: segments de clientèle

Clients bancaires de détail individuels

Au quatrième trimestre 2023, First Horizon dessert environ 1,2 million de clients bancaires de détail individuels dans six États: Tennessee, Mississippi, Alabama, Floride, Géorgie et Carolines.

Métriques du segment de la clientèle	Nombre total
Comptes de chèques personnels	675,000
Comptes d'épargne personnels	425,000
Utilisateurs de la banque numérique	890,000

Petites et moyennes entreprises

First Horizon prend en charge 87 500 clients de petites et moyennes entreprises (SMB) à travers son empreinte régionale.

• Comptes de chèques commerciaux: 52 300
• Clients de prêt commercial: 22 100
• Business Credit Card Cartes: 13100

Clients bancaires d'entreprise et commerciaux

La banque dessert 6 750 clients bancaires d'entreprise et commerciaux avec un portefeuille de prêts commerciaux total de 24,3 milliards de dollars au 31 décembre 2023.

Segment commercial	Valeur totale du portefeuille
Banque commerciale	15,6 milliards de dollars
Clients du marché intermédiaire	8,7 milliards de dollars

Clients de gestion de la patrimoine

First Horizon gère 18,2 milliards de dollars d'actifs de gestion de patrimoine pour 45 600 clients à haute teneur.

• Comptes d'investissement individuels: 32 400
• Clients de la planification de la retraite: 13 200

Emprunteurs immobiliers et hypothécaires

La banque maintient un portefeuille hypothécaire de 42,8 milliards de dollars dans les segments immobiliers résidentiels et commerciaux.

Segment hypothécaire	Valeur totale du prêt
Hypothèques résidentielles	29,6 milliards de dollars
Immobilier commercial	13,2 milliards de dollars

First Horizon Corporation (FHN) - Modèle d'entreprise: Structure des coûts

Personnel et compensation des employés

En ce qui concerne le rapport annuel de 2023, les dépenses totales de rémunération et de prestations des employés de First Horizon Corporation étaient de 1,16 milliard de dollars.

Catégorie de dépenses	Montant (millions de dollars)
Salaires	752.4
Avantages sociaux	264.6
Frais de pension et de retraite	143.0

Maintenance de la technologie et des infrastructures numériques

L'investissement infrastructure technologique pour 2023 a totalisé 287,3 millions de dollars.

• Frais d'infrastructure informatique: 124,5 millions de dollars
• Investissements en cybersécurité: 62,8 millions de dollars
• Maintenance de la plate-forme bancaire numérique: 100,0 millions de dollars

Dépenses opérationnelles du réseau de succursales

Les coûts d'exploitation du réseau de succursales totales pour 2023 étaient de 412,6 millions de dollars.

Catégorie de dépenses de succursale	Montant (millions de dollars)
Loyer et installations	186.4
Services publics	54.2
Entretien	172.0

Contacments de conformité réglementaire et de gestion des risques

Les dépenses de conformité et de gestion des risques pour 2023 s'élevaient à 213,7 millions de dollars.

• Coûts de rapport réglementaire: 87,5 millions de dollars
• Personnel juridique et de conformité: 62,3 millions de dollars
• Systèmes de gestion des risques: 63,9 millions de dollars

Frais de marketing et d'acquisition des clients

Les dépenses de marketing pour 2023 étaient de 95,4 millions de dollars.

Catégorie de dépenses de marketing	Montant (millions de dollars)
Marketing numérique	38.2
Publicité traditionnelle	32.6
Campagnes d'acquisition de clients	24.6

First Horizon Corporation (FHN) - Modèle d'entreprise: Strots de revenus

Revenu des intérêts des prêts et hypothèques

Pour l'exercice 2023, First Horizon Corporation a déclaré un revenu net d'intérêts de 2,68 milliards de dollars. Répartition du portefeuille de prêts:

Catégorie de prêt	Volume total	Pourcentage de portefeuille
Prêts commerciaux	35,6 milliards de dollars	42%
Hypothèques résidentielles	22,4 milliards de dollars	26%
Prêts à la consommation	17,3 milliards de dollars	20%
Autres prêts	9,2 milliards de dollars	12%

Frais de service bancaire

Les frais de service bancaire pour 2023 ont totalisé 456 millions de dollars, la distribution des revenus suivante:

• Frais de maintenance du compte: 124 millions de dollars
• Frais de transaction: 187 millions de dollars
• Frais de découvert: 89 millions de dollars
• Frais de transfert de fil: 56 millions de dollars

Frais de gestion de la patrimoine et de consultation

Le segment de la gestion de patrimoine a généré 312 millions de dollars en 2023:

Catégorie de service	Revenu
Planification financière	98 millions de dollars
Avis d'investissement	142 millions de dollars
Services de confiance	72 millions de dollars

Commissions de produits d'investissement

Les commissions de produits d'investissement ont atteint 267 millions de dollars en 2023:

• Commissions de fonds communs de placement: 112 millions de dollars
• Frais de compte de retraite: 89 millions de dollars
• Commissions de courtage: 66 millions de dollars

Revenus des transactions bancaires numériques

Les transactions bancaires numériques ont généré 184 millions de dollars en 2023:

Service numérique	Revenu	Volume de transaction
Banque mobile	78 millions de dollars	42 millions de transactions
Payage des factures en ligne	56 millions de dollars	28 millions de transactions
Paiements numériques	50 millions de dollars	25 millions de transactions

First Horizon Corporation (FHN) - Canvas Business Model: Value Propositions

You're looking at what First Horizon Corporation offers its clients-the core reason they choose them over a national giant or a smaller community player. It's about getting the scale of a major institution with the feel of a local partner. As of September 30, 2025, First Horizon Corporation held total assets of $83.2 billion. This scale allows them to offer a full suite of services across their 12-state footprint in the southern U.S.. They've earned recognition for this balance, landing on the Forbes America's Best Companies 2026 List and the Forbes Best-In-State Banks 2025 list.

For commercial and private banking clients, the value is in tailored counsel backed by real lending capacity. They aren't just processing applications; they are structuring deals. The loan portfolio stood near $63.1 billion as of Q3 2025. This core lending strength is reflected in their Net Interest Income, which hit $674 million in the third quarter of 2025. Honestly, that NII number shows their balance sheet management is working well in the current rate environment.

When it comes to wealth and trust management for high-net-worth individuals, First Horizon leverages its reputation for reliability. Their regional strategy has paid off in customer perception; for example, their trust services ranked top in seven states in recent customer surveys. You want to see the hard numbers that back up that trust:

Metric	Value (Q3 2025 or Latest)	Context
Total Assets	$83.2 billion	As of September 30, 2025
Loan Portfolio	$63.1 billion	Q3 2025 balance
Net Interest Margin (NIM)	3.6%	Q3 2025 result
Adjusted EPS	$0.51	Q3 2025 result

The experience isn't just inside the branch, either. You expect digital access, and First Horizon delivers a digital-first experience with robust security. This focus on modern tools is weighted heavily in their customer satisfaction metrics. In fact, the recent customer surveys that informed their top rankings polled 26,000 U.S. residents, with digital services being a key factor in their success. It's about convenience meeting confidence.

Finally, there's the commitment to the communities they serve, which is a value proposition for clients who care about where their money is banked. The First Horizon Foundation has donated more than $150 million since its founding in 1993. Just in 2024, they awarded $1.6 million through their Grants for Good campaign to 160 nonprofits. This isn't just marketing fluff; it's capital deployed locally.

• Full-service regional bank with big-bank resources.
• Tailored counsel for commercial and private banking.
• Comprehensive wealth and trust management.
• Digital experience weighted heavily in service scores.
• Community investment exceeding $150 million lifetime.

Finance: draft the Q4 2025 revenue vs. expense forecast by next Tuesday.

First Horizon Corporation (FHN) - Canvas Business Model: Customer Relationships

You're looking at how First Horizon Corporation builds and keeps its client base, which is critical when you're a regional player competing against giants. Honestly, their approach is a blend of old-school banking trust and modern tech efficiency.

The core of the service delivery is a hybrid model combining high-touch, dedicated relationship managers with digital self-service. This isn't just theoretical; the bank is about halfway through its three-year technology initiative as of early 2025. The goal is clear: bring in new bank clients and retain them at 90% plus. This balance means complex commercial or wealth management needs get a dedicated person, while everyday consumer banking moves to the app.

This strategy relies heavily on personalized insights and offers driven by data to deepen client relationships. First Horizon Corporation is actively using a CRM transformation to get a 360-degree view of the customer. They use this data to tailor marketing and product offerings, which is how they aim to boost non-interest income through cross-selling services like wealth management.

A major differentiator in the consumer space is the relationship-based rewards program (FIS AI 360) for total client value. First Horizon Bank deployed FIS AI 360 specifically to reward customers based on the total value of their banking relationship, moving past simple transaction rewards. Since launching this with the checking product suite, they have seen increases in checking product growth and average customer balances, alongside increased relationship depth for those customers. The system rewards across factors like types of accounts held, account balances, and engagement.

Here's a quick snapshot of how those relationship efforts translate into measurable scale and recognition as of late 2025:

Metric/Area	Data Point	Context/Impact
Customer Retention Rate	90% plus	Rate at which new bank clients are retained
Total Assets	$83.2 billion	Scale of the client base as of September 30, 2025
Rewards Program Focus	Total Relationship Value	Basis for rewards via FIS AI 360
Community Recognition	TIME's Best Midsize Companies 2025	Second consecutive year recognition based partly on CSR
Cross-Selling Goal	Deepening existing relationships	Key to boosting non-interest income

The bank also focuses on community-focused engagement to build long-term, defintely trusted ties. This commitment to community is recognized externally; for instance, First Horizon was named to TIME's list of America's Best Midsize Companies of 2025 for the second year running, with corporate social responsibility metrics being a key factor. They also highlight initiatives like Memphis arts funding as part of their brand building. Trust is a stated priority, validated by their inclusion on the Forbes America's Best-In-State Banks 2025 list.

For those times when digital isn't enough, the model includes assisted self-service via call centers and online chat support. While specific call center volume isn't public, the overall strategy supports a seamless omni-channel experience, which customers clearly expect. This ensures that whether a client is using the mobile app or needs to speak to someone, the experience is integrated.

First Horizon Corporation (FHN) - Canvas Business Model: Channels

You're looking at how First Horizon Corporation gets its value proposition-the combination of regional expertise and sophisticated products-into the hands of its customers. The channel strategy here is a deliberate mix of physical presence and digital efficiency, which is key for a bank of its size, standing at $83.2 billion in total assets as of September 30, 2025.

The physical branch network remains a core touchpoint, especially in the southern U.S. First Horizon Bank operates across a 12-state footprint concentrated in the region. While the exact, real-time count is dynamic, as of late November 2025, the FDIC reported 421 domestic locations for First Horizon Bank. This physical network is supported by a history of strategic acquisitions, like the 2020 merger with IberiaBank, which brought in over 190 banking centers across 11 states at that time. The bank still relies on these centers for complex transactions and relationship building, even as digital adoption grows.

Digital channels are clearly a major focus area, backed by significant investment. First Horizon set aside $100 million over a three-year period to upgrade its systems, focusing on customer-facing enhancements after the TD Bank deal ended. This investment supports the mobile banking app and online banking platforms, which are critical for daily customer interactions. Customer surveys show that digital services are a heavily weighted factor in customer satisfaction, suggesting customers expect high performance here. For instance, current Digital Banking customers can reorder checks directly within the platform.

Specialized teams are the delivery mechanism for the higher-value services First Horizon Corporation offers. These teams handle commercial banking, private banking, wealth management, and capital markets. The success of this segment is reflected in the financial results; for the third quarter of 2025, noninterest income rose by $26 million to $215 million, which often correlates with fee-based services delivered by these specialized groups. The bank is also focused on driving Pre-Provision Net Revenue (PPNR) opportunities through consistent execution across its business lines.

For cash access, the ATM network and third-party processors are essential. While a specific ATM count for late 2025 isn't public, the bank clearly defines its fee structure for external access: First Horizon charges a $3 foreign ATM fee whenever you use an ATM outside of its own network. This structure encourages the use of their owned or partner network while monetizing out-of-network usage.

Regarding VirtualBank, a dedicated digital-only experience, the public reports emphasize the overall technology upgrade and digital enhancements across the main First Horizon Bank platform. Specific, standalone operational or asset data for an entity explicitly named 'VirtualBank' was not detailed in the latest financial releases I reviewed. The strategy seems focused on integrating digital capabilities across the existing $83.2 billion asset base.

Here's a quick look at the scale and recent performance tied to these channels:

Metric	Value/Amount	Date/Period
Total Assets	$83.2 billion	September 30, 2025
Physical Banking Centers	421	As of November 28, 2025
States with Branch Operations	12	Ongoing
Technology Upgrade Investment	$100 million	Three-year period post-2023
Q3 2025 Noninterest Income	$215 million	Q3 2025
Foreign ATM Fee	$3	Current Policy

The strategy is clearly about maximizing reach: deep physical penetration in 12 states combined with digital tools that customers can use anywhere. If onboarding for digital services takes 14+ days, churn risk rises, so the efficiency of those digital channels is defintely a near-term operational focus.

Finance: draft 13-week cash view by Friday.

First Horizon Corporation (FHN) - Canvas Business Model: Customer Segments

You're looking at the core of First Horizon Corporation (FHN) as of late 2025. The company, holding $83.2 billion in assets as of September 30, 2025, serves a broad spectrum of clients across its 12 states of operation in the southern U.S.. This dual focus on individuals and businesses is key to their strategy, which is now heavily centered on organic growth after the merger activity settled down.

Here is how First Horizon Corporation structures its customer base, which directly informs where they allocate capital and focus their relationship managers:

• - Commercial Clients: Middle-market businesses needing lending and treasury management.
• - Private Banking/Wealth Management: High-net-worth individuals and families.
• - Consumer Banking: Mass-market individuals for deposits, mortgages, and loans.
• - Small Business Clients: Local enterprises requiring basic banking and small loans.
• - Capital Markets Clients: Institutional investors and corporations for fixed income.

Commercial Clients: Middle-market businesses needing lending and treasury management.

This segment is a major driver of balance sheet activity. You can see the focus in their recent loan growth figures; for instance, the second quarter of 2025 showed an increase of $316 million in Commercial and Industrial (C&I) loans. The strategy here involves deep engagement for treasury products and commercial real estate lending, aiming for cross-selling opportunities to boost revenue. The overall Commercial, Consumer & Wealth segment generated $1.4 billion in pre-tax income in 2024.

Private Banking/Wealth Management: High-net-worth individuals and families.

For wealth services, managed under First Horizon Advisors Inc., the scale is significant, reporting $13.6 B in Assets Under Management (AUM) as of July 31, 2025. This group is not monolithic, so it helps to break down where that AUM comes from:

Client Type	Number of Accounts (as of 7/31/2025)	AUM ($B) (as of 7/31/2025)
Individuals (other than high net worth)	5,562	1.7
Individuals (high net worth individuals)	863	2.0
Pension and profit sharing plans	51	3.4

Honestly, the high-net-worth individuals, while fewer in number at 863 accounts, represent a solid $2.0 billion of that AUM, showing a higher average relationship size than the mass-market individuals.

Consumer Banking: Mass-market individuals for deposits, mortgages, and loans.

This is the high-volume segment, providing the core deposit base. While the most concrete recent acquisition data is from a bit earlier, it shows the scale of their consumer focus: First Horizon gained approximately 24,000 new consumer customers in the summer of 2023. The bank offers essential products like checking, savings, credit cards, and home mortgages to this mass market. The resilience of this segment is important, as the company's loan portfolio stress test loss rate was only 2.3% under severe scenarios, partly due to limiting exposure to higher-loss products like credit cards.

Small Business Clients: Local enterprises requiring basic banking and small loans.

Small business clients are served alongside the larger commercial segment, but they require tailored basic banking and smaller loan facilities. The overall health of the business lending side is reflected in the $689 million increase in loans to mortgage companies seen in Q2 2025, which is a counter-cyclical business that supports the broader lending ecosystem these clients operate in.

Capital Markets Clients: Institutional investors and corporations for fixed income.

First Horizon Corporation supports institutional investors and corporations through its Capital Markets division, with a notable counter-cyclical buffer coming from its fixed income operations. This business line helps stabilize revenue, as executives noted during the September 2025 Barclays Conference presentation that fixed income provides a buffer against economic downturns. The company is actively managing its balance sheet, which includes these capital markets assets, to maintain a near-term Common Equity Tier 1 (CET1) ratio target of 10.75%.

Finance: draft 13-week cash view by Friday.

First Horizon Corporation (FHN) - Canvas Business Model: Cost Structure

You're looking at the expenses First Horizon Corporation racks up to keep the lights on and the balance sheet running. For a bank, the cost structure is dominated by funding costs and the overhead of a physical and digital footprint. Here's the quick math on what they spent recently.

Interest Expense is the cost of funding deposits, which is definitely a major variable cost that moves with the Fed's rate decisions. In the third quarter of 2025, the average rate paid on interest-bearing deposits rose to 2.78%, up from the second quarter average of 2.76%. First Horizon Corporation reported average deposits of $65.9 billion for Q3 2025, showing the scale of the funding base subject to these interest rate costs.

Noninterest Expense for First Horizon Corporation totaled $551 million in Q3 2025. This figure was up from $491 million in Q2 2025 and $511 million in Q3 2024. The efficiency ratio for Q3 2025 was 61.92%, which was slightly up from the prior-year period's 61.89%, suggesting a slight deterioration in profitability efficiency for the quarter.

The components driving this noninterest spend are quite detailed. Personnel Costs, covering salaries, benefits, and commissions for over 7,200 associates (as of December 31, 2024), saw an increase. Excluding deferred compensation, personnel expenses increased by $9 million from the prior quarter, with $6 million of that growth tied to incentives and commissions driven by improved Average Daily Relationships (ADR) in the fixed income business.

For Technology and Data Processing and other operational costs, outside services increased by $8 million quarter-over-quarter. The primary drivers for this increase were project expenses and technology and risk-related spending, though this was partially offset by lower advertising costs as prior campaign expenses shifted to new account promotion payouts within other expense categories.

The cost structure also includes strategic investments and non-recurring items. For instance, Q3 2025 expenses reflected a $20 million contribution to the First Horizon Foundation, an amount noted as being higher to maximize relative tax advantages available for contributions made in 2025. Occupancy and Equipment costs are part of the overall noninterest expense base supporting the network of banking centers concentrated in the southern U.S.

Here is a quick breakdown of some key cost-related figures from the Q3 2025 results:

Cost Metric	Amount	Period/Context
Total Noninterest Expense	$551 million	Q3 2025
Personnel Expense Increase (QoQ)	$9 million	Excluding deferred compensation, Q3 2025 vs Q2 2025
Outside Services Increase (QoQ)	$8 million	Driven by technology/project spend, Q3 2025 vs Q2 2025
Foundation Contribution	$20 million	Included in Q3 2025 expenses
Average Interest-Bearing Deposit Rate	2.78%	Q3 2025 Average

The bank's overall operational spending is managed with an eye on the efficiency ratio, which sits near 62%. You see the impact of personnel incentives flow through when business lines like fixed income perform well, which is a direct link between revenue generation and variable compensation within the cost structure.

The costs associated with the physical footprint, Occupancy and Equipment, support the operations across the 12 states where First Horizon Bank operates its banking centers. While specific line items for this category aren't broken out in the summary data, they are embedded within the total Noninterest Expense of $551 million.

You can see the interplay between funding costs and operating costs in the expense management focus. Finance: draft 13-week cash view by Friday.

First Horizon Corporation (FHN) - Canvas Business Model: Revenue Streams

You're looking at the core engine of First Horizon Corporation (FHN)'s profitability, which, like most banks, rests heavily on the spread between what it earns on assets and what it pays on liabilities. For Q3 2025, this engine was humming along nicely.

Net Interest Income (NII) remains the primary revenue source, totaling $674 million in Q3 2025. This figure represents about 75.8% of the total revenue for the quarter. To give you some context on momentum, NII advanced from $641 million in Q2 2025 and was up from $627 million reported in Q3 2024. The Net Interest Margin (NIM) also expanded by 15 basis points to reach 3.55% for the quarter.

The second major component is Noninterest Income, which acts as a key diversifier. This stream totaled $215 million in Q3 2025, making up the remaining 24.2% of total revenue. This was a sequential improvement, climbing from $189 million in the previous quarter, and up from $200 million reported in Q3 2024. This rise was partly due to a jump in fixed income ADRs (American Depositary Receipts) activity.

Here's the quick math on the top-line performance for the quarter ending September 2025:

Revenue Component	Q3 2025 Amount (Millions USD)	Comparison to Q2 2025
Net Interest Income (NII)	$674	Up from $641 million
Noninterest Income	$215	Up from $189 million
Total Revenue	$889	Up from $833 million

The fee-based revenue is generated across several services, which you need to track to see if the diversification strategy is holding up as interest rates shift. The total Noninterest Income for Q3 2025 was $215 million, which included a rise of $26 million from the prior quarter. The specific breakdown looks like this:

• - Net Interest Income (NII): Primary revenue source, totaling $674 million in Q3 2025.
• - Noninterest Income: Fees from services, totaling $215 million in Q3 2025.
• - Service Charges and Fees: Consumer and commercial account fees.
• - Wealth Management and Trust Fees: Fees from managing client assets.
• - Capital Markets and Fixed Income Fees: Revenue from trading and advisory services, which saw a jump in fixed income ADRs contributing to the overall fee growth.

The performance of the fee income is encouraging, especially since management expects these counter-cyclical fees to help offset asset sensitivity as the Fed moves toward easing. If onboarding takes 14+ days, churn risk rises, but for now, the fee growth shows client activity is strong in key areas.

Finance: draft 13-week cash view by Friday.