By Katherine Hamilton

Shares of First Horizon fell after the bank's chief executive said it would be open to buying another bank.

The stock slid 13%, to $20.01, midday Wednesday, despite beating income estimates in its third quarter. The decline erased First Horizon's share gains over the past year.

Bryan Jordan, chief executive of the Memphis, Tenn., bank, said during a third-quarter earnings call that he is increasingly confident in First Horizon's ability to complete a merger as soon as 2026. He said he would be looking for a bank that is a cultural fit and inside the company's existing footprint in the Southeast U.S.

Investors view Jordan's comments as a shift in the company's narrative about its strategy, Truist analysts led by John McDonald said in a note.

Jordan did clarify that the bank's near-term focus is unchanged. But he now appears more open to expanding First Horizon's presence in its markets, especially as there is an increasing number of small banks up for sale, the analysts said.

Write to Katherine Hamilton at katherine.hamilton@wsj.com

(END) Dow Jones Newswires

October 15, 2025 12:25 ET (16:25 GMT)

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