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First Horizon CEO talks regional bank competition after earnings miss

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After First Horizon reported an earnings miss Wednesday morning, the regional bank's CEO Bryan Jordan told CNBC's Jim Cramer about competition in the industry.

After First Horizon posted an earnings miss Wednesday morning, the regional bank's CEO Bryan Jordan told CNBC's Jim Cramer there is stiff competition in the industry that could continue for the rest of the year.

"We're seeing a tremendous amount of competition. It tends to be very aggressive for money market and CD deposit rates," Jordan said. "We see a lot of specials in the marketplace, and what we experienced this quarter was a little bit of a shift in what we'd seen in previous quarters." First Horizon is headquartered in Memphis, Tennessee, and has locations across 12 states, primarily in the southeast. By Wednesday's close, First Horizon shares were down 5.79%.

 

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