First Horizon Corporation - FHN STOCK NEWS

TD Bank and First Horizon terminate merger agreement due to TD's inability to obtain regulatory approvals. TD will make a $200 million cash payment to First Horizon. No other fees or liabilities related to the merger agreement. First Horizon remains focused on growth and has a strong capital position. TD Bank expresses disappointment but moves forward with a strong franchise in the US.

First Horizon Corporation (NYSE: FHN) announced its transition from USD LIBOR to CME Term SOFR as the reference rate for certain outstanding securities after June 30, 2023. This change comes after the UK’s Financial Conduct Authority confirmed the cessation of USD LIBOR publication. As part of the transition, the LIBOR Act will disregard fallback language in existing contracts, ensuring automatic conversion to CME Term SOFR plus a spread adjustment of 0.26161%. The applicable securities include various series of preferred stocks and trust preferred securities. With approximately $80.7 billion in assets, First Horizon remains a leading regional financial services provider, operating across 12 southern U.S. states. The company is recognized for its strong workplace reputation and commitment to customer service.

First Horizon Corporation (NYSE: FHN) reported strong first quarter 2023 results, with a net income available to common shareholders of $243 million or earnings per share (EPS) of $0.43. This compares to $258 million or $0.45 EPS in the previous quarter. The company's pre-provision net revenue surged by 77% compared to the prior year, reaching significant growth on an adjusted basis. The return on tangible common equity (ROTCE) stood at 17.4%, with an adjusted ROTCE of 18.6%, and a tangible book value per share of $10.89. Notably, the first quarter results were affected by notable items, resulting in a net reduction of $16 million after-tax.

First Horizon Corporation has been awarded 14 recognitions in the 2022 Greenwich Excellence and Best Brand Awards for its performance in U.S. Small Business Banking and Middle Market Banking. The awards highlight the bank's focus on quality service and innovative banking tools aimed at enhancing business performance. Based on feedback from nearly 20,000 businesses, the awards reveal high client satisfaction and trust. With $79 billion in assets, First Horizon operates in 12 states, offering a wide range of financial services. The bank has been recognized among the best U.S. employers and a top-rated bank for reputation.

First Horizon Corporation (NYSE: FHN) has announced that it will release its first quarter 2023 financial results after market close on April 18, 2023. The earnings materials will be accessible on their website under Events and Presentations. As of December 31, 2022, First Horizon reported assets totaling $79 billion, positioning itself as a leading regional financial services provider. The company operates across 12 states in the southern U.S. and offers a wide range of banking services. Its reputation has been bolstered by recognition from Fortune and Forbes for being among the best employers and the top 10 most reputable U.S. banks.

First Horizon Bank has launched a new website developed by Mindgruve, a leading digital marketing agency, to enhance its online presence and customer experience. The revamped site features a mobile-first layout, simplified navigation, and improved lead conversion tools. CMO Erin Pryor stated that this initiative aims to streamline customer interactions and boost leads. The new website also includes tools for account management, loan calculations, and financial planning resources. First Horizon, with assets of $89.1 billion as of December 31, 2021, operates in twelve southern states, providing a range of financial services.