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First Horizon Corporation - FHN STOCK NEWS

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.

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First Horizon National Corp. (NYSE: FHN) announced the appointment of Key Coker as the new Dallas/Fort Worth Market President. With over 35 years of banking experience, Coker will lead the company's growth in the Dallas and Fort Worth markets. His previous role was as CEO at BBVA in Dallas. First Horizon recently merged with IBERIABANK, forming an $85 billion regional bank. Coker expressed excitement about joining during this transformative period for the company, which offers a range of financial services across 12 states.

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Wipro Limited has partnered with First Horizon Bank to enhance the core banking channels of VirtualBank, a digital bank obtained from IBERIABANK during their 2020 merger. The collaboration includes the transformation of legacy systems to a cloud-based infrastructure, completed within eight months. Wipro’s services covered program management, data migration, and fintech integration, solidifying the digital bank’s capabilities. The partnership aims to improve customer service and regulatory compliance.

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On Sept. 9, 2021, the Louisiana First Horizon Foundation pledged $1 million to assist communities affected by Hurricane Ida. The funds will support local non-profits addressing urgent community needs. Following the disaster, IBERIABANK/First Horizon distributed essential supplies and provided financial support through its Associate Relief Fund. Most banking centers in impacted areas have resumed operations with limited hours. The foundation aims to enhance community resilience, reflecting First Horizon's commitment to support its associates, clients, and the communities it serves.

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First Horizon Corporation (NYSE: FHN) has announced the postponement of the IBERIABANK operating system conversion until Q1 2022 due to Hurricane Ida's impact. The pre-tax merger integration costs are now expected to reach $520-$530 million, an increase of $20-$30 million. Despite these challenges, the Company aims to achieve $200 million in pre-tax annualized cost savings by Q4 2022. Approximately 8,350 clients with $3 billion in loans are affected, with various forms of assistance being provided to both clients and associates.

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First Horizon Corporation (NYSE: FHN) announced that CEO Bryan Jordan will attend the Barclays Global Financial Conference on September 14, 2021, at 2:00 pm ET. The event will feature a live webcast, accessible on the First Horizon Investor Relations website.

As of June 30, 2021, First Horizon holds $87.9 billion in assets, providing services including commercial and private banking across 12 southern U.S. states. The company is recognized among the best employers and reputable banks in the nation.

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First Horizon Corporation (NYSE: FHN) has declared a quarterly common stock dividend of $0.15 per share, payable on October 1, 2021, to shareholders of record by September 10, 2021. Additionally, cash dividends were approved for its preferred stock series, including Series C with $165.00 per share, Series D with $305.00, Series E with $1,625.00, and Series F with $1,175.00. These dividends are set to be paid on November 1, 2021, for Series C and D, and on October 12, 2021, for Series E, F, and Class A Preferred Stock.

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First Horizon Bank has appointed Hunter Hill as Chief Digital Transformation Officer and promoted Tony Adams to New Orleans Market President. Hill, who previously served as New Orleans Market President, will now lead the bank's digital vision and strategy, enhancing capabilities across various business lines. Meanwhile, Adams has been pivotal in expanding the bank's presence in North Louisiana. President and CEO Bryan Jordan emphasized the importance of advancing digital banking to meet evolving client needs. First Horizon Corp. has $87.6 billion in assets as of June 30, 2021.

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First Horizon Corporation (NYSE:FHN) reported strong financial results for Q2 2021, with a net income of $295 million, or $0.53 per share, up from $225 million in Q1. Adjusted net income increased to $321 million, or $0.58 per share. The return on tangible common equity (ROTCE) improved to 20.4%. Tangible book value per share rose 4% to $10.74. Notably, Q2 results were impacted by $26 million in notable items related to the IBERIABANK merger. The company anticipates increasing loan demand and economic growth in the latter half of the year.

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First Horizon Corporation (NYSE: FHN) announced a cash dividend of $874.72 per share on its 4.70% Non-Cumulative Perpetual Preferred Stock, Series F. This translates to $0.218680 per Depositary Share, as a correction to a previous announcement regarding the dividend rate. The dividend is payable on July 12, 2021, to shareholders of record as of June 30, 2021. First Horizon, with $87.5 billion in assets, operates across 12 states in the southern U.S., providing a range of financial services.

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First Horizon Corporation (NYSE: FHN) released its 2020 Corporate Social Responsibility Report, emphasizing its merger with IBERIABANK and commitment to ESG practices. The report details achievements in 2020 and early 2021, highlighting investments of approximately $22 million in community support, including $2.5 million for COVID-19 assistance. Key initiatives include appointing new ESG and DEI officers, establishing a CSR Working Group, and creating an ESG framework. The company aims for transparency and accountability in its operations, underscoring its mission of being 'Here for Good.'

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FAQ

What is the current stock price of First Horizon Corporation (FHN)?

The current stock price of First Horizon Corporation (FHN) is $19.94 as of December 20, 2024.

What is the market cap of First Horizon Corporation (FHN)?

The market cap of First Horizon Corporation (FHN) is approximately 10.3B.

What does First Horizon Corporation do?

First Horizon Corporation is a regional financial services company offering commercial, private, consumer banking, small business services, wealth and trust management, retail brokerage, capital markets, and mortgage banking services.

Where is First Horizon Corporation headquartered?

First Horizon Corporation is headquartered in Memphis, Tennessee.

How many branches does First Tennessee Bank have?

First Tennessee Bank, a subsidiary of First Horizon Corp, has around 200 branches primarily in Tennessee.

What are the recent financial results of First Horizon Corporation?

For the third quarter of 2023, First Horizon reported a net income of $129 million, demonstrating strong performance and resilience.

What is the significance of First Horizon's 2023 stress test results?

The 2023 stress test results showed First Horizon's ability to maintain capital ratios well above regulatory minimums, reflecting strong risk management and financial health.

In which states does First Horizon Bank operate?

First Horizon Bank operates in 12 states across the southern United States.

Has First Horizon Corporation received any notable recognition?

Yes, 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.

What is the primary source of revenue for First Horizon Corporation?

The primary source of revenue for First Horizon Corporation is First Tennessee Bank, contributing approximately 65% of the company's revenue.

How can I access First Horizon Corporation's financial reports?

Financial reports and other investor-related information can be accessed on First Horizon Corporation's investor relations website at ir.firsthorizon.com.

What is the mission of First Horizon Corporation?

First Horizon's mission is to provide the best service to its customers, maintain financial integrity, and help customers manage their money effectively.

First Horizon Corporation

NYSE:FHN

FHN Rankings

FHN Stock Data

10.33B
524.56M
0.87%
82.72%
1.92%
Banks - Regional
National Commercial Banks
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United States of America
MEMPHIS