First Horizon Corporation

Thank you all for joining. I would like to welcome you all to the First Horizons Second Quarter 2025 Earnings Conference Call. My name is Brika and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to pass the conference over to your host, Tyler Craft, Head of Investor Relations at First Horizon Bank. Thank you. You may proceed.

Thank you, Brika. Good morning. Welcome to our second quarter 2025 results conference call. Thank you for joining us. Today, our Chairman, President, and CEO, Brian Jordan, and Chief Financial Officer, Hope Domchowski, will provide prepared remarks, after which we'll be happy to take your questions. We're also pleased to have our Chief Credit Officer, Thomas Hung, here to assist with questions as well. Our remarks today will reference our earnings presentation, which is available on our website at ir.firsthorizons.com. As always, I need to remind you that we will make forward-looking statements that are subject to risks and uncertainties. Therefore, we ask you to review the factors that may cause our results to differ from our expectations on page two of our presentation and in our SEC filings. Additionally, please be aware that our comments will refer to adjusted results which exclude the impact of notable items. These are non-GAAP measures, so it's important that you review the GAAP information in our earnings release, page three of our presentation, and the non-GAAP reconciliations at the end of our presentation. And last but not least, our comments reflect our current views, and you should understand that we are not obligated to update them. And with that, I'll hand it over to Brian.

Thank you, Tyler. Good morning, everyone, and thank you for joining our call. We appreciate your continued interest in First Horizon. I'm pleased with our results in the second quarter. Our balance sheet growth, credit, and profitability were all strong in the quarter. The economy continues to be relatively stable. We are seeing improving customer confidence, but uncertainty remains around tariffs, interest rates, and the economic outlook. Sitting here today, we believe that the fundamentals in the economy, especially in our southern footprint, will remain good for the back half of 2025 and into 2026. Our focus remains on safety and soundness, profitability, and sustainable growth. We are pleased to report that our credit trends remain consistently strong. We continue to deliver on our profitability targets with expense and pricing discipline despite increased deposit pressure and competition. And finally, balance sheet growth this quarter is in line with the broader industry trends. On slide five, we share a few highlights from the quarter. We earned an adjusted EPS of 45 cents per share, which was a 3 cent increase from the prior quarter. These results reflect pre-provision net revenue growth of $4 million from the first quarter and improving credit conditions. The primary driver of our PPNR improvement was a $10 million of incremental net interest income. which came mostly from growth in our loan portfolio. We also maintain expense discipline with total expenses excluding deferred compensation increasing by only $4 million from the last quarter. Our credit portfolio remains strong. Our charge-off ratio of 22 basis points remained in line with our expectations coming into the year. We saw a three basis point decline to our coverage for credit losses, reflecting the loan balance mix improvements for mortgage warehouse lending growth, as well as the reduction in classified loans. This quarter was a solid quarter for our balance sheet with period end balances for both loans and deposits finishing 2% higher quarter over quarter. We're optimistic about our momentum going into the second half of this year. With that high-level overview, I'll turn it over to Hope to run through our financial results in more detail. Hope?