First Horizon Corporation - FHN STOCK NEWS

First Horizon Corp. (NYSE: FHN) has announced the establishment of the First Horizon Bank Endowed Scholarship at LeMoyne-Owen College in Memphis. This initiative is part of a broader education program aimed at investing in future professionals from colleges and universities that contribute to the community's fabric. The scholarship will be awarded annually to a student interested in finance or banking roles who aligns with the company's values of accessibility, connectivity, and enrichment.

In addition to the scholarship, the partnership will offer financial education, professional skill development, and career opportunities tailored to LeMoyne-Owen students. This collaboration underscores First Horizon's commitment to long-term community investment and prioritizing education in the region.

First Horizon (NYSE: FHN) has been recognized on Forbes' list of America's Best Employers for Women 2024. The prestigious award, announced on July 23rd, 2024, is based on an independent survey of over 150,000 women working for U.S. companies with at least 1,000 employees.

The evaluation process considered over 4 million employer assessments, focusing on factors such as workplace atmosphere, diversity, image, salary, and working conditions. Special attention was given to women-specific issues like representation, pay equity, discrimination, flexibility, and parental leave.

Tanya Hart, Executive VP and Chief Human Resources Officer at First Horizon, expressed pride in the company's diverse leadership and commitment to gender diversity, equitable opportunities, and an inclusive work environment. The recognition highlights First Horizon's ongoing efforts to adapt to changing workforce dynamics while maintaining performance goals and work-life balance.

First Horizon Corp. (NYSE: FHN) has renewed its commitment to the University of Tennessee with a 5-year agreement as a Corporate Champion and the Official Bank of the VOLS. The partnership, dating back to 1993, includes an exclusive financial partnership, official Power T premium Visa Debit card design, and various entertainment and hospitality opportunities. The agreement, facilitated by The Vol Network, provides First Horizon with a statewide media strategy across radio, television, print, digital, and social media platforms.

Jim Atchley, Market President for First Horizon Bank, emphasized the bank's 30-year support for the Vols and its commitment to the Knoxville community and the University of Tennessee. Steve Early, VP and GM of the Vol Network, highlighted First Horizon's unmatched corporate partner commitment to Big Orange Athletics and its statewide impact.

First Horizon (NYSE: FHN) has announced the results of its 2024 company-run capital stress test. The test, utilizing the Federal Reserve's 2024 Severely Adverse Scenario, demonstrated that First Horizon would maintain capital ratios well above regulatory-required minimums under hypothetical severe economic downturns. Key highlights include:

- A minimum Common Equity Tier 1 capital ratio of 9.5%, 500 bps above the regulatory minimum
- A loan portfolio stressed loss rate of 2.5%, significantly lower than the 6.8% Federal Reserve-published median DFAST result
- Pre-provision net revenue as a percentage of total assets at 4.6%, exceeding the peer median of 1.9%

These results reflect First Horizon's strong risk discipline, diversified loan portfolio, and countercyclical businesses.

First Horizon Corp. (NYSE: FHN) has been recognized on TIME Magazine's inaugural list of America's Best Mid-Size Companies 2024. The list, created in partnership with Statista, evaluated companies based on three dimensions: employee satisfaction, revenue growth, and sustainability transparency.

To qualify, companies had to operate in the United States, generate between $100 million and $10 billion in revenue in 2022 or 2023, and show positive revenue growth over the last three years. The evaluation included data from approximately 170,000 employee surveys and Statista's revenue database.

Bryan Jordan, Chairman, President and CEO of First Horizon, expressed honor at the recognition, attributing it to the team's dedication and commitment to associates, clients, communities, and shareholders.

First Horizon (NYSE: FHN) reported strong second quarter 2024 results with net income available to common shareholders of $184 million or EPS of $0.34. Adjusted earnings were $195 million or $0.36 per share, up $0.01 from the prior quarter. The company achieved a 2Q24 ROTCE of 11.3% and an Adjusted ROTCE of 12.0%. Tangible Book Value per Share increased to $12.22, up $0.06 quarter-over-quarter.

CEO Bryan Jordan highlighted solid performance in net interest income and banking fee growth. The company returned $212 million of capital to shareholders in Q2. First Horizon continues to make progress on strategic investments while identifying operational efficiencies to enhance client experience and financial performance.

First Horizon Bank, listed on NYSE as FHN, has been honored with the bronze 2022-23 U.S. President's Volunteer Service Award by Junior Achievement USA (JA). The award, recognizing significant volunteer contributions, was presented to 70 organizations at the JA Volunteer Summit on June 11, 2024, in Washington, DC. First Horizon surpassed the required 1,500 volunteer hours, a 500-hour increase from the previous year. Tanya Hart, EVP and CHRO at First Horizon, commended JA for their innovative volunteer programs and affirmed the bank's commitment to financial education. The full list of award recipients is available online.

First Horizon Bank has been honored on the Forbes list of America's Best-In-State Banks 2024, as announced on June 18, 2024. The recognition is a result of a comprehensive survey conducted by Forbes and Statista Inc., which included responses from approximately 26,000 U.S. residents who evaluated banks based on trust, terms, branch services, digital services, customer service, and financial advice. The survey contributed 80% of the ranking score, while publicly available reviews made up the remaining 20%. Bryan Jordan, Chairman, President and CEO of First Horizon, expressed pride in this accolade, emphasizing the importance of trust and reputation for financial institutions.

First Horizon Foundation, in celebration of its 160th anniversary, has awarded $1.6 million to 160 nonprofit organizations through its Grants for Good campaign. Each nonprofit received a $10,000 grant for their significant contributions to community development and stability. The campaign, which garnered over 3,500 applications, aimed to support initiatives that uplift those in need, foster sustainable growth, and enhance community resilience. The recipients were selected by a panel of First Horizon associates. For more details, visit the First Horizon Foundation's website at www.firsthorizonfoundation.com.