First Horizon Corporation - FHN STOCK NEWS

On February 2, 2021, First Horizon Bank selected Finxact to enhance its VirtualBank brand through modern core banking solutions. The Memphis-based bank, with $84 billion in assets and over one million customers, is aiming to strengthen its product and service delivery post-merger with IBERIABANK. This conversion to Finxact's cloud core marks a significant step in its modernization strategy, allowing First Horizon to compete more effectively in the evolving financial landscape.

First Horizon Corporation (NYSE: FHN) announced a new share repurchase program authorizing up to $500 million in common stock buybacks following successful 2020 stress tests. CEO Bryan Jordan emphasized a focus on organic growth while balancing share repurchases to enhance shareholder returns. The board also declared a $0.15 quarterly dividend on common stock, payable April 1, 2021, along with cash dividends on various series of preferred stock, with payments ranging from $165 to $1,625 per share scheduled between April and May 2021.

First Horizon Corporation reported its fourth quarter 2020 earnings, showing a net income of $234 million, down from $523 million in the previous quarter. The earnings per share (EPS) for Q4 was $0.42, impacted by $20 million in notable items linked to the IBERIABANK merger. For the full year, net income reached $822 million, with an EPS of $1.89. The Tangible Book Value per share increased by 3% to $10.23. CEO Bryan Jordan expressed pride in the company's performance amidst challenges and highlighted successful integration efforts.

First Horizon Corporation (NYSE: FHN) announced robust results from its 2020 Bank Holding Company-run capital stress test, showcasing its resilience in economic stress situations. The company maintained a common equity tier one capital ratio of 8.2%, significantly surpassing regulatory requirements. Moreover, its stressed loss rate of 2.8% outperformed the median of CCAR banks at 6.9%. These results highlight First Horizon's strong risk management and diversified business model, reflecting a pre-provision net revenue exceeding peer medians by 150 basis points.

First Horizon Corp. (NYSE:FHN) will announce its fourth quarter financial results on January 22, 2021, before market opening. A conference call will take place at 8:30 a.m. CT, where management will discuss earnings and performance trends. The financial report, including a news release and slide presentation, will be available by 6 a.m. CT on the same day. Interested parties can join the call or listen via a live webcast. The call will be recorded and available for replay starting noon CT on January 22 through February 5. More details can be found at First Horizon's Investor Relations page.

On December 9, 2020, Bryan Jordan, CEO of First Horizon (NYSE:FHN), will present at a Goldman Sachs virtual conference at 2:40 p.m. ET. The event will be accessible via a live audio webcast, with a replay available for 14 days. The presentation may include forward-looking statements regarding the company's performance, which carry inherent risks. First Horizon, with $83 billion in assets, operates nearly 500 bank locations and is recognized among the nation's best employers.

First Horizon National Corp. (NYSE: FHN) announced a simplification of its corporate name to First Horizon Corporation, effective November 30, 2020, to align its parent company name with its principal brand following the IBERIABANK merger. This name change will not affect outstanding securities, which will continue to trade under their existing symbols. First Horizon holds $83 billion in assets and operates nearly 500 bank locations across the Southeast, providing a range of financial services.

First Horizon National Corp. (NYSE: FHN) announces the appointment of Erin Pryor as Executive Vice President and Chief Marketing Officer. Pryor brings 20 years of marketing experience in banking and finance, previously serving at USAA as Executive Director of Brand Management. Her role will focus on enhancing marketing strategies to improve client experiences and brand awareness across the Southeast. CEO Bryan Jordan expressed confidence in her capabilities at a critical growth juncture for the company.

First Horizon National Corporation (NYSE:FHN) executives will participate in upcoming virtual conferences. CFO William Losch and COO Anthony Restel will present at the Banc Analysts Association of Boston on November 6, 2020, at 1:50 p.m. ET. Additionally, Michael Brown and David Popwell will engage in a session with Bank of America Merrill Lynch on November 10, 2020, at 8:00 a.m. ET. Both events will be accessible via live webcast, with audio replays available for 14 days. The company emphasizes that presentations may include forward-looking statements subject to risks and uncertainties.