First Horizon Corporation (NYSE: FHN) reported a net loss available to common shareholders of $94 million, or $(0.20) per share, for the third quarter of 2026, according to a press release issued Oct. 15, 2026.

The reported loss reflects the reclassification of targeted mortgage loans to held-for-sale status in connection with a pending portfolio transaction. In early October, the Memphis, Tenn.-based bank entered into an agreement to sell approximately $4.5 billion in select lower-yielding consumer mortgages. The transaction is expected to settle early in the fourth quarter of 2026.

Notable items totaled $0.73 per share, or $347 million after tax, primarily tied to the mortgage reclassification. Excluding those items, adjusted earnings per share for the third quarter was $0.53, down $0.01 from the second quarter of 2026 and up $0.02 from the third quarter of 2025.

Average client deposit balances increased $1.3 billion during the quarter. Chairman, President and CEO Bryan Jordan said in a statement: "We continue to focus on growing and maintaining full client relationships and deploying capital where it best serves long-term value creation."

First Horizon reported total assets of $84.3 billion as of Sept. 30, 2026. The company operates through its banking subsidiary, First Horizon Bank, across 12 states concentrated in the southern U.S.