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.
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 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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