Welcome to our dedicated page for First Horizon Corporation news (Ticker: FHN), a resource for investors and traders seeking the latest updates and insights on First Horizon Corporation stock.
First Horizon Corporation (NYSE: FHN) is a leading regional financial services company based in Memphis, Tennessee. With a history dating back to 1864, the company has carved out a significant presence in the banking sector, evolving alongside the needs of its customers and communities.
First Horizon Corp. is the parent company of First Tennessee Bank, a prominent regional bank with approximately 200 branches primarily concentrated in Tennessee. The bank contributes around 65% of the company's revenue, with capital markets activities adding another 25%. The company's remaining income is generated from non-strategic and corporate operations.
The core of First Horizon's business lies in offering a variety of banking products, including commercial and private banking, consumer banking, small business services, wealth and trust management, and mortgage banking. The company also engages in retail brokerage and capital markets activities, providing clients with access to fixed income products and a variety of financial services.
Recent accomplishments highlight the company's robust financial health and its strategic direction. As of June 30, 2023, First Horizon reported $85.1 billion in assets. In September 2023, the company announced the results of its 2023 Bank Holding Company-run capital stress test, which demonstrated its capacity to maintain strong capital ratios well above regulatory minimums even under adverse economic conditions. Furthermore, First Horizon reported a net income of $129 million for the third quarter of 2023, showcasing its resilience and disciplined approach to credit quality and financial management.
First Horizon has been recognized as one of the nation’s best employers by Fortune and Forbes magazines and ranks as a Top 10 Most Reputable U.S. Bank. The company operates its banking subsidiary across 12 states in the southern United States, providing a wide array of services to help clients unlock their full potential with capital and counsel.
For more details, the latest news, and ongoing updates, visit FirstHorizon.com.
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.
TD Bank Group (TD) and First Horizon Corporation (FHN) have agreed to extend the deadline for their proposed merger from February 27 to May 27, 2023. Both banks reaffirm their commitment to the transaction, which seeks to benefit customers and communities. Shareholders of First Horizon voted overwhelmingly in favor, while progress is ongoing regarding community benefit plans. Completion of the merger is contingent upon regulatory approvals in the U.S. and Canada. This extension aims to ensure a seamless integration process and alignment of strategic goals.
Mindgruve, a leading digital marketing agency, received two Platinum Awards at the 2023 AVA Digital Awards for its Let's Find a Way campaign for First Horizon Bank. The campaign, aimed at enhancing brand awareness and client trust, featured real client stories and targeted the bank's newly acquired markets. It achieved significant quarter-over-quarter increases in impression volume and customer acquisition. Mindgruve serves as the agency of record for First Horizon, managing creative, digital media, and web presence. First Horizon has assets of $80.3 billion as of September 30, 2022, and operates across 12 states.
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