第一地平线银行 2025年季度报告

(Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the quarterly period ended March 31, 2025or ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THESECURITIES EXCHANGE ACT OF 1934For the transition period from __________ to__________ Commission File Number: 001-15185____________________________________ (Exact name of registrant as specified in its charter)______________________________________ TN (State or other jurisdiction ofincorporation or organization) (Registrant’s telephone number, including area code) (901) 523-4444 (Former name, former address and former fiscal year, if changed since last report) Securities registered pursuant to Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant wasrequired to file such reports), and (2) has been subject to such filing requirements for the past 90days.☒Yes☐No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the registrant was required to submit such files).☒Yes☐No Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,”“accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. Non-accelerated filer If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant toSection 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).☐Yes☒No APPLICABLE ONLY TO CORPORATE ISSUERS: Outstanding on April 30, 2025 10-Q REPORT TABLE OF CONTENTS Table of Contents GlossaryForward-Looking StatementsNon-GAAP Information Part I. Financial Information6Item 1. Financial Statements6Item 2. Management’s Discussion and Analysis of Financial Condition and Results ofOperations66 Item 3. Quantitative and Qualitative Disclosures About Market Risk99Item 4. Controls and Procedures99 Part II. Other Information100Item 1. Legal Proceedings100Item 1A. Risk Factors100Item 2. Unregistered Sales of Equity Securities and Use of Proceeds100Item 3. Defaults Upon Senior Securities100Item 4. Mine Safety Disclosures100Item 5. Other Information101Item 6. Exhibits101 Signatures GLOSSARY GlossaryThe following is a list of common acronyms and terms used throughout this report: CorporationFirst Horizon CorporationCRECommercial Real EstateDTADeferred tax assetDTLDeferred tax liabilityEADExposure at defaultEPSEarnings per shareFannie MaeFederal National Mortgage AssociationFASBFinancial Accounting Standards BoardFDICFederal Deposit Insurance CorporationFederal ReserveFederal Reserve BoardFedFederal Reserve BoardFHAFederal Housing AdministrationFHLBFederal Home Loan BankFHNFirst Horizon CorporationFHNFFHN Financial; FHN's fixed income divisionFICOFair Isaac CorporationFirst HorizonFirst Horizon CorporationFRBFederal Reserve Bank or the Federal Reserve BoardFreddie MacFederal Home Loan Mortgage CorporationFTEFully taxable equivalentFTPFunds transfer pricingFTRESCFT Real Estate Securities Company, Inc.GAAPGenerally accepted accounting principles (U.S.)GHGGreenhouse GasGNMAGovernment National Mortgage Association or Ginnie MaeGSEGovernment sponsored enterprises, in this report references Fannie Mae andFreddie MacHELOCHome equity line of creditHFSHeld for SaleHTMHeld to maturityIBKCIBERIABANK CorporationIBKC mergerFHN's merger of equals with IBKC that closed July 2020ISDAInternational Swap and Derivatives AssociationLGDLoss given defaultLIBORLondon Inter-Bank Offered RateLIHTCLow Income Housing Tax CreditLLCLimited Liability CompanyLMCLoans to mortgage companiesLOCOMLower of cost or marketLTVLoan-to-value Forward-Looking Statements This report, including materials incorporated into it, contains forward-looking statements within the meaning ofthe Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, andSection 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals,expectations, and estimates. Forward-looking statements are not a representation of historical information, butinstead pertain to future operations, strategies, financial results or other developments. Forward-lookingstatements often use words such as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “should,” “is l