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Overview of First Horizon Corporation
First Horizon Corporation (NYSE: FHN) is a historic and comprehensive regional financial services organization known for its sustained commitment to financial integrity and customer service excellence. With a legacy that dates back to 1864, the company has evolved into a multifaceted banking institution, offering a broad array of services across commercial banking, consumer lending, deposit taking, and wealth management. Emphasizing banking innovation, regional financial expertise, and customer-centric solutions, First Horizon has built a reputation grounded in decades of practical experience and strategic operational excellence.
Historical Evolution and Core Values
Since opening its doors in the mid-19th century on North Court Street in Memphis, First Horizon has maintained its founding mission: to provide exceptional service to its customers, one opportunity at a time. The company’s evolution mirrors the broader transformation of banking in America, adapting continuously to the dynamic needs of its diverse clientele. A steadfast commitment to financial integrity has always been at the core of its operations, ensuring that both individual and commercial clients receive prudent guidance and support to safeguard and grow their assets.
Business Segments and Service Offerings
First Horizon Corporation’s operational model is structured around four key reportable segments:
- Commercial: Serving a wide spectrum of business clients with traditional lending, deposit services, and tailored financial solutions that support diverse commercial needs.
- Consumer & Wealth: Delivering a comprehensive suite of personal banking products, including mortgage lending, retail banking, investment services, and wealth management to support individuals and families.
- Wholesale: Focusing on servicing large-scale institutional clients and facilitating more complex capital market activities.
- Corporate: Addressing specialized financial strategies and providing internal management support across the organization.
The Commercial and Consumer & Wealth segments form the cornerstone of First Horizon’s revenue, underscoring the company’s dual focus on traditional banking and personalized financial solutions.
Market Position and Operational Strength
Positioned as a major regional bank with an expansive branch network, First Horizon operates principally throughout the southern United States, including a significant presence in Tennessee. The company’s diverse portfolio—ranging from retail brokerage to fixed income and mortgage banking—demonstrates its ability to cater to a varied clientele. Its emphasis on local community engagement and prudent financial practices has solidified its standing as an institution that balances traditional banking with modern operational strategies.
Operational Excellence and Industry Expertise
First Horizon’s structure is designed to meet varied financial needs while maintaining strong relationships with clients, communities, and industry partners. The organization continues to integrate digital strategies alongside standard practices to enhance customer interaction and service delivery. Notably, recent recognitions for social media use underscore the company’s evolving approach to digital engagement without compromising the trusted, personalized service delivered through its robust branch network. This blend of technology and traditional banking ensures that First Horizon remains responsive to the evolving dynamics of the financial services industry.
Commitment to Financial Integrity and Customer Service
Central to First Horizon’s philosophy is a commitment to acting in the clients’ best interests, a value that has been nurtured over more than 150 years. The company provides discrete financial counsel, risk management, and comprehensive advisory services that are tailored to both commercial entities and individual clients. This dedication is evident in the careful stewardship of its service offerings, ensuring that every product—from routine deposit accounts to intricate wealth management strategies—is executed with an unwavering commitment to quality and reliability.
Competitive Landscape and Industry Differentiation
In an industry that is often characterized by a race towards technological adoption and market expansion, First Horizon stands apart through its balanced approach to innovation and tradition. It differentiates itself with its deep local market knowledge, extensive historical experience, and commitment to transparent financial practices. The company's segmented business model minimizes operational risks and diversifies revenue streams, thereby reinforcing client trust and institutional stability.
Expertise in Local Markets and Community Orientation
First Horizon’s deep roots in the communities it serves serve as a strong competitive advantage. Localized knowledge of market trends, customer preferences, and regional economic conditions enables tailored financial solutions that are both practical and strategically sound. By accentuating the importance of personalized service and local engagement, the company continues to be a trusted advisor in times of both stability and economic shifts.
Conclusion
With a legacy spanning over a century and a half, First Horizon Corporation remains a testament to the enduring value of stable, well-managed financial institutions. Its comprehensive business segments, focus on customer service excellence, and strategic integration of digital innovation make it a notable example of how traditional banking institutions can adapt while remaining true to their core principles. Whether through traditional lending, wealth management, or community-focused banking solutions, First Horizon offers a multidimensional approach that has been refined over generations, ensuring its place as a credible, knowledgeable, and enduring financial partner in the regional market.
First Horizon Bank (NYSE: FHN) has become the first-ever Presenting Sponsor of Durham Performing Arts Center (DPAC) through a new multiyear sponsorship agreement. DPAC, a 2,700-seat theater consistently ranked among the top five performing arts centers nationally, hosts major shows and performers in an intimate setting.
The partnership joins DPAC's commitment to excellence in performing arts with First Horizon's community investment strategy. Durham Mayor Leonardo Williams praised First Horizon as a strong community and business partner in Durham and the Triangle region. Laura Bunn, Mid-Atlantic Regional President for First Horizon Bank, emphasized the bank's commitment to supporting organizations that enhance cultural and economic vibrancy in their communities.
First Horizon (NYSE: FHN) has announced the election of Jeffrey J. Brown, 52, to its Board of Directors and First Horizon Bank Board of Directors. Brown currently serves as President of Hendrick Automotive Group, the largest privately held automotive group in the United States.
Brown recently retired as CEO of Ally Financial Inc. in January 2024, where he served for nine years. His previous roles include President and CEO of Dealer Financial Services, Executive VP of Finance and Corporate Planning, and Corporate Treasurer at Ally. He also served as Corporate Treasurer for Bank of America.
Bryan Jordan, Chairman, President and CEO of First Horizon, highlighted Brown's extensive financial services expertise and leadership experience in public companies as valuable assets. His connection to Charlotte, a key market for First Horizon, is seen as strategically important for the company's growth potential.
First Horizon (NYSE: FHN) announced that its Chairman, President and CEO Bryan Jordan has been named to the Memphis Business Journal's 2025 Power 100 list. This annual recognition highlights influential leaders who shape the business and economic landscape of Memphis and the Mid-South region.
Chief Human Resource Officer Tanya Hart emphasized Jordan's commitment to supporting associates, clients, and communities. Under his leadership, First Horizon continues to build on its 160-year legacy while focusing on creating long-term shareholder value.
First Horizon (NYSE: FHN) reported full year 2024 net income available to common shareholders (NIAC) of $738 million or earnings per share of $1.36, compared to $865 million or $1.54 per share in 2023. The 2024 results included $105 million after-tax of notable items impact.
Fourth quarter 2024 delivered NIAC of $158 million or $0.29 per share, with adjusted figures of $228 million or $0.43 per share, representing a 2% increase from the previous quarter. The company demonstrated strong performance with expanded net interest margin, 6% growth in fixed income revenue, and improved credit metrics with net charge-offs at 8 basis points.
First Horizon (NYSE: FHN) announces its participation in ABC's rebooted 'Extreme Makeover: Home Edition.' The bank will provide financial resources to four families in Houston, Orlando, and Phoenix who are receiving home renovations through the show. This initiative extends First Horizon's existing collaboration with the show's new hosts, Clea Shearer and Joanna Teplin of The Home Edit.
Through 'The Home Fund,' First Horizon aims to help these families establish financial stability beyond their home renovations. The bank's involvement includes providing tools for financial planning and wellness, including 'THE Money Edit,' a downloadable resource for financial organization and literacy. The show airs Thursdays at 8 p.m. EST on ABC and is available on Hulu.
First Horizon (NYSE: FHN) has announced that its Bank Operations team received the 2024 Commitment Award from the Tennessee Center for Performance Excellence (TNCPE). This recognition underscores the organization's commitment to operational excellence and continuous improvement.
TNCPE, which has evaluated over 1,000 organizations since the early 1990s, utilizes the Baldrige Excellence Framework to help organizations enhance processes and client relationships. Amy Shreve, Executive Vice President and Operations Executive, emphasized the team's dedication to improving operational processes and maintaining high performance standards.
The recognition represents a multi-year journey of commitment to excellence, with First Horizon Bank continuing to strengthen its operational capabilities across its 12-state footprint.
First Horizon (NYSE: FHN) has scheduled the announcement of its fourth quarter and full year financial results for January 16, 2025. The company will release its financial report and supplemental materials at approximately 6:30 am ET through their investor relations website.
Management will host a live conference call and webcast presentation at 9:30 am ET on the same day. The presentation will be accessible via webcast on their IR website, with dial-in options available for both US (1-833-470-1428) and international callers (404-975-4839). A replay service will be available until January 30th through both phone and web platforms.
First Horizon Bank (NYSE: FHN) has secured naming rights for the 10,000-seat stadium at WakeMed Soccer Park, which will be called First Horizon Stadium starting in 2025. The multiyear partnership expands upon First Horizon's role as the Courage's first official banking partner established in 2024.
The agreement includes planned investments in permanent branding and new signage at the stadium's northeast gate main entrance. The facility, home to both the North Carolina Courage and North Carolina FC, will maintain WakeMed's naming rights for the broader park complex. The stadium also hosts various collegiate and high school sporting events, including the NCAA Division I College Cup. A ribbon-cutting ceremony is planned for early 2025 following completion of stadium enhancements.
First Horizon Bank (NYSE: FHN) has become the presenting sponsor of the 61st Annual Coconut Grove Arts Festival® (CGAF), scheduled for February 15-17, 2025. The festival, produced by Loud And Live, is South Florida's premier outdoor fine-arts event, featuring 285 selected artists across various disciplines.
The multi-year sponsorship agreement establishes First Horizon as the festival's official bank. The event, which began in 1963, has contributed significantly to arts education, providing over $200,000 in scholarships in the last three years, including $144,000 to Miami Dade High School graduates and $90,000 to Florida International University students.
The 2025 festival will be held in Coconut Grove, Miami, with tickets starting at $25 plus fees for General Admission.
First Horizon Bank (NYSE: FHN) has entered into a multiyear partnership with Hornets Sports & Entertainment (HSE), becoming a Proud Partner of the Charlotte Hornets. The partnership includes the entitlement sponsorship of the Theater Box at Spectrum Center, naming rights to the arena's private Trade and Caldwell Entrance, and presenting sponsorship of the 'Bee-Ball for All' youth initiative. First Horizon Bank, with $82.6 billion in assets as of September 30, 2024, will receive various in-arena branding opportunities and a dedicated alcove on the Uptown Concourse. A ribbon-cutting celebration for the First Horizon Bank Theater Box is planned for early 2025.
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