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 National Corporation (NYSE: FHN) announced its participation in the virtual Barclays Global Financial Services Conference on September 14, 2020, at 3:30 p.m. Eastern Time. The event will feature a fireside chat with CEO Bryan Jordan, available to the public via live webcast. Audio replays will be accessible for 14 days post-conference. First Horizon, with $86 billion in assets, operates nearly 500 bank locations in 12 states and is recognized as a top employer and reputable U.S. bank. More details, including related materials, can be found on their investor relations website.
First Horizon National Corp. (NYSE:FHN) has announced a quarterly cash dividend of $0.15 per share, payable on October 1, 2020, to shareholders on record by September 11, 2020. Additionally, various preferred stock dividends were approved: Series A, Series C, Series D, and Series E. The Series A dividend is $1,550.00 per share payable on October 13, 2020. Series C and D dividends are $165.00 and $305.00 respectively, both payable on November 2, 2020. The company's financial strength is reflected through these consistent dividend payments.
First Horizon National Corp. (NYSE:FHN) has completed the acquisition of 30 branches from SunTrust, now Truist, enriching its footprint in growth markets like North Carolina, Virginia, and Georgia. The transaction adds about $440 million in loans and $2.3 billion in deposits, furthering First Horizon's goal of enhancing service capabilities and long-term shareholder value. The branches converted to First Horizon banking centers over the weekend of July 17-19, 2020. Following this and the IBERIABANK merger, the company now operates nearly 500 banking centers across 12 states.
First Horizon National Corp. (FHN) reported a second quarter net income of $52 million, up from $12 million in Q1 2020, resulting in earnings per share of $0.17. Adjusted net income stood at $64 million, or $0.20 per share. Strong fee income grew 31% year-over-year, while net interest income remained stable despite rate challenges. The CET1 ratio improved to 9.3%. The company reported $2 billion in SBA loans through the PPP, aiding 15,000 customers. However, the allowance for loan losses increased significantly to $538 million due to COVID-19 impacts.
First Horizon National Corp. (NYSE:FHN) has announced a semi-annual cash dividend of $0.828125 per Depositary Share on its 6.625% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series B, payable on August 3, 2020. Additionally, the company declared a quarterly cash dividend of $0.4125 per Depositary Share on the 6.60% Fixed to Floating Non-Cumulative Perpetual Preferred Stock, Series C, also payable on August 3, 2020. Both dividends are for shareholders of record by July 17, 2020.
First Horizon National Corp. (FHN) and IBERIABANK Corporation have successfully completed their all-stock merger, creating a combined entity with $79 billion in assets. This milestone is set to enhance operational scale and diversify financial services. Clients will continue to be served through existing branches until systems are integrated, expected by mid-2021. IBERIABANK shareholders received shares in the new company at a ratio of 4.584 for each share held. The transition reflects a strategic move toward building a major southern-based bank.
First Horizon National Corp. (NYSE: FHN) will announce its second quarter financial results on July 17, 2020. The announcement will include a news release, a financial supplement, and a slide presentation available at 6 a.m. CT. A conference call is scheduled for 8:30 a.m. CT to discuss earnings and performance trends. Analysts and investors can participate by dialing designated numbers or joining a live audio webcast. The details will be accessible via the company's investor relations website, with a replay available until July 31.
First Horizon National Corp. (FHN) and IBERIABANK Corporation (IBKC) have received regulatory approval for their all-stock merger of equals, expected to close on July 1, 2020. This merger aims to create one of the largest financial service companies in the South, enhancing market presence and operational capabilities. IBERIABANK shareholders will receive 4.584 shares of First Horizon for each share owned. The merged entity will operate under the First Horizon name and is expected to significantly strengthen community engagement and deliver improved returns for shareholders.
First Horizon National Corp. (NYSE:FHN) has announced the posting of additional materials for equity analysts on its investor relations website, effective 8 a.m. CT today. This initiative is aimed at providing updated insights and data ahead of upcoming meetings and conferences. The company, which operates approximately 270 bank locations in the Southeast U.S., has been recognized as a top employer and a leader in the financial services sector. However, the announcement includes forward-looking statements that carry significant risks, indicating that actual results may differ from expectations.
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