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 a quarterly cash dividend of $0.15 per share for common stock, payable on October 3, 2022, to shareholders of record by September 9, 2022. Additionally, preferred stock dividends were declared for Series C, D, E, and F, with payments ranging from $0.29375 to $0.4125 per Depositary Share, payable on October 11, 2022 and November 1, 2022. The company reported $85.1 billion in assets as of June 30, 2022.
First Horizon Corporation (NYSE: FHN) reported second quarter 2022 net income of $166 million, or $0.29 per share, a decrease from $187 million or $0.34 in the prior quarter. Adjusted net income was $195 million, down from $211 million. Despite strong net interest income and expense discipline, notable items led to a net impact of $29 million. Total assets reached $85.1 billion, showcasing resilience in high-growth markets and specialty lending.
First Horizon Corporation (NYSE: FHN) has published its Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report for 2021 and early 2022. The report outlines progress across five key pillars: Governance, Associates, Clients, Communities, and Environment. Notable achievements include assigning ESG oversight to the board, calculating GHG emissions, and investing over $19 million in community initiatives. The company emphasizes its commitment to sustainable economic growth and enhancing stakeholder value.
First Horizon Corporation (NYSE: FHN) announced shareholder approval for The Toronto-Dominion Bank (TD) to acquire it, with the transaction expected to close in Q1 of TD's 2023 fiscal year, pending regulatory approvals. The CEO, Bryan Jordan, emphasized the deal's strategic benefits and the value it brings to stakeholders. The press release includes cautionary notes about forward-looking statements related to potential risks that could affect the transaction's completion, including regulatory hurdles and market conditions.
First Horizon Corporation (NYSE: FHN) has announced a quarterly common stock dividend of $0.15 per share, payable on July 1, 2022, to shareholders of record by June 10, 2022. The company also declared cash dividends for its preferred stock series, including Series B with $331.25 per share, Series C at $165.00, Series E at $1,625.00, and Series F at $1,175.00 per share. Additionally, a $9.47917 quarterly dividend for First Horizon Bank's Class A Preferred Stock is also set for July 11, 2022, with a record date of June 24, 2022.
First Horizon Corp. (NYSE: FHN) announced the winners of its Back to Business Contest, awarding $1 million in cash prizes to 48 small businesses across 16 regions, including Alabama, Arkansas, Florida, Georgia, Louisiana, and Texas. The contest, aimed at supporting resilient businesses, received 2,300 entries and recognized winners based on public voting. Prizes ranged from $30,000 for first place to $5,000 for sweepstakes winners. The company emphasizes its commitment to fostering local communities through financial support.
First Horizon Corporation (NYSE: FHN) reported a first quarter 2022 net income of $187 million, or $0.34 per share, down from $219 million and $0.40 per share in the previous quarter. Adjusted net income fell to $211 million or $0.38 per share, compared to $260 million or $0.48 per share in Q4 2021. The decline was attributed to lower provision credit. The company also reported a ROTCE of 13.0% and an adjusted ROTCE of 14.7%, with a tangible book value per share of $10.46.
CEO Bryan Jordan noted successes in loan growth and integration efforts, while expressing concern over global uncertainties.
First Horizon Corporation (NYSE: FHN) announced a revised date for releasing its first-quarter financial results, now set for April 19, 2022, after market close. This change comes amid a proposed transaction with TD Bank Group. Importantly, FHN management will not conduct conference calls related to the earnings materials. As of December 31, 2021, the company held $89.1 billion in assets and operates in 12 states, offering various banking and financial services. Earnings materials will be accessible on their website.
TD Bank Group has signed a definitive agreement to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion, or US$25.00 per common share. This acquisition aims to enhance TD's presence in the Southeastern U.S., offering immediate scale and growth opportunities. Upon completion, First Horizon CEO Bryan Jordan will join TD as Vice Chair. The deal is expected to be immediately accretive to TD's adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. The transaction is anticipated to close in Q1 of TD’s 2023 fiscal year.
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