MEMPHIS, Tenn., May 9, 2023 /PRNewswire/ -- First Horizon Corp. (NYSE: FHN or "First Horizon") today announced a $50 million commitment to its communities through the First Horizon Foundation.
As part of the $200 million cash payment received from the TD termination agreement, First Horizon is investing $50 million of those funds back into the communities it serves.
"Without hesitation, our executive leadership team and Board of Directors made this important decision," said D. Bryan Jordan, Chairman, President and CEO of First Horizon. "Our commitment to continuously care for our communities - through all economic cycles - has always been part of our strategy and embedded in our core values."
Jesse Van Tol, President and CEO of the National Community Reinvestment Coalition, commented, "First Horizon has been a reliable, trusted partner for NCRC and many of our nonprofit members for years. We are thrilled that our communities will continue to benefit from the leadership role First Horizon plays in supporting underserved communities which, in turn, helps to create and sustain vibrant communities."
Jordan continued, "It is our responsibility and privilege to support the individuals, families and small businesses that make up our beloved communities in which we live and work, and this decision underscores our passion for and commitment to doing just that."
Since the First Horizon Foundation was established in 1993, it has invested more than $150 million in the communities it serves. In 2022, the First Horizon Foundation invested nearly $18 million across its 12-state southeastern regional footprint in addition to the $5 million spent in Louisiana by the Louisiana First Horizon Foundation. Approximately forty percent of those funds were dedicated to low- and moderate-income communities. Through strategic partnerships with more than 1,500 nonprofit organizations last year, the Company provided support to its communities' greatest needs, including health and human services; financial literacy; access to financial resources and affordable housing; small businesses; diversity, equity and inclusion efforts; disaster recovery and much more.
The funds will be dispersed through First Horizon Foundation's normal grant cycle process. Applications can be made at www.firsthorizonfoundation.com .
About First Horizon
First Horizon Corp. (NYSE: FHN), with $80.7 billion in assets as of March 31, 2023, is a leading regional financial services company, dedicated to helping our clients, communities and associates unlock their full potential with capital and counsel. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern U.S. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, and mortgage banking services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.
View original content to download multimedia:https://www.prnewswire.com/news-releases/first-horizon-commits-50-million-to-its-communities-301820283.html
SOURCE First Horizon Corporation
