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.
TD Bank Group has announced an all-cash deal to acquire First Horizon for US$13.4 billion, or US$25.00 per common share. This acquisition positions TD as a top 6 U.S. bank with approximately US$614 billion in assets and a network of 1,560 branches across 22 states. The transaction is expected to be immediately accretive to adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. TD aims to expand First Horizon's community investments and retain all client-facing bankers. The deal is subject to regulatory approvals and expected to close in Q1 2023.
The Preiss Company has begun developing Signature Music Row, a 105-unit multifamily housing project in Nashville, Tennessee, marking its first entry into the Nashville market. This project is in partnership with Speedwagon Capital Partners and includes additional loan contributions from First Horizon, with JLL Capital Markets facilitating the debt arrangements. The development features various residential units and is strategically located near Vanderbilt University, amidst a thriving local economy bolstered by job growth from major companies like Amazon and Oracle.
First Horizon Corp. (NYSE: FHN) announced a $1 million cash prize giveaway to support local businesses through the Back to Business contest. This initiative highlights the importance of resilient businesses in the company's regional footprint. Entries are accepted until February 15, 2022, with 1st, 2nd, and 3rd place prizes awarded across 16 communities. To enter, businesses must describe in 100 words how they would use the funds. First Horizon, with $89.1 billion in assets as of December 31, 2021, operates in 12 states.
First Horizon Corporation (NYSE: FHN) announced that President and CEO Bryan Jordan will speak at the KBW Winter Financial Services Symposium on February 17, 2022, at 11:30 am ET. A live webcast and an audio replay will be available on the company's investor relations website. The company, headquartered in Memphis, TN, has approximately $89.1 billion in assets and provides a range of financial services across 12 states. First Horizon has received recognition as a top employer and reputable bank.
First Horizon Corporation (NYSE: FHN) reported a fourth quarter 2021 net income available to common shareholders of $219 million, or $0.40 per share, down from $224 million and $0.41 in the previous quarter. After adjusting for notable items related to the IBERIABANK merger, the adjusted net income was $260 million, a decrease from $275 million. For the full year 2021, total net income reached $962 million, compared to $822 million in 2020, with notable items leading to a net reduction of $179 million.
First Horizon Corporation (NYSE:FHN) will announce its fourth quarter and full year 2021 financial results on January 20, 2022, at approximately 6:45 am ET. The announcement will include a live conference call at 9:30 am ET, which can be accessed by dial-in or via a webcast at ir.firsthorizon.com. A replay will be available from noon CT on January 20 until February 3. As of September 30, 2021, First Horizon held $88.5 billion in assets.
First Horizon Corporation (NYSE: FHN) announced participation at the Goldman Sachs 2021 US Financial Services Conference on December 8, 2021, at 1:00 pm ET. President and CEO Bryan Jordan will represent the company, with a live webcast and audio replay available on their investor relations website. The company, with $88.5 billion in assets as of September 30, 2021, operates in 12 states and offers a range of financial services. First Horizon is recognized for its positive workplace environment and reputation.
First Horizon Corporation (NYSE: FHN) announced the appointment of Hope Dmuchowski as its new Chief Financial Officer effective November 29, 2021. Dmuchowski joins from Truist Financial Corporation, where she served as Executive Vice President, handling financial planning and analysis. Bringing extensive experience in finance, she aims to enhance First Horizon’s strategy and operational efficiencies. President and CEO Bryan Jordan praised her merger integration expertise, which could benefit the company as it navigates a competitive landscape.
First Horizon Bank announced the appointment of Todd Williams as Market President for the Piedmont Triad and Ben Shoemake for the Greensboro/High Point market. These strategic hires are part of the bank's commitment to enhance its presence in the region. Williams, with over 20 years in commercial lending, previously served as Triad Market Executive at Atlantic Union Bank. Shoemake brings significant experience from First Citizens Bank. The bank operates 24 locations and holds $2 billion in deposits in the Piedmont Triad, aiming for localized decision-making and leadership.
First Horizon Corporation (NYSE: FHN) will have its President of Regional Banking and interim CFO, Anthony Restel, participate in the Bank of America 2021 Banking and Financials Conference on November 9, 2021, at 11:20 am ET. A live webcast and audio replay will be available on their investor relations website. With $88.5 billion in assets as of September 30, 2021, First Horizon operates across 12 southern U.S. states and offers a variety of financial services. The company is recognized for its workplace culture and reputation among banks.
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