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 (NYSE: FHN) reported strong third quarter 2024 results with net income available to common shareholders of $213 million or earnings per share of $0.40. Adjusted earnings were $224 million or $0.42 per share, both up $0.06 from the prior quarter. The company achieved a 3Q24 ROTCE of 12.6% and Adjusted ROTCE of 13.2%, with Tangible Book Value per Share increasing by $0.81 to $13.02.
CEO Bryan Jordan highlighted the 18% growth in earnings per share compared to the previous quarter, attributing it to strong performance from counter-cyclical businesses and the company's diversified business model. Credit quality remained stable, with net charge-offs declining for the second consecutive quarter and a modest increase in reserve coverage. The company also emphasized its support for associates, clients, and communities affected by recent hurricanes.
First Horizon Bank (NYSE: FHN) has been named the Official Bank of the North Carolina Courage in a multiyear partnership aimed at supporting women's sports. This collaboration will focus on launching community initiatives to promote financial literacy and banking solutions in the Triangle region. As the first-ever official bank of the Courage, First Horizon will receive branding assets, activation spaces, and joint promotional opportunities throughout the season.
The partnership highlights the increasing corporate investment in the Courage, the NWSL, and women's sports. First Horizon Bank's commitment to empowering women is reflected in its diverse leadership, with 50% of its executive management team being female and 38% of its board comprising women. The bank's assets will debut at WakeMed Soccer Park on October 5, 2024, during the Courage's match against San Diego Wave FC.
First Horizon Corp. (NYSE: FHN) has secured a multi-year naming rights partnership for the Greensboro Coliseum, which will be renamed First Horizon Coliseum. This marks the first naming rights agreement in the venue's 65-year history. The partnership, effective immediately, was facilitated by Oak View Group, the complex's managers and operators.
The agreement aims to enhance the Coliseum's national profile and appeal. First Horizon Bank, as the naming rights partner, will work with Oak View Group on marketing initiatives to amplify their brand and provide additional exposure for the venue. The partnership is expected to contribute to the Coliseum's position as a top entertainment destination and generate economic impact for the region.
First Horizon Foundation has pledged $250,000 to support communities affected by Hurricane Helene. The funds will be distributed through nonprofit partners, with 501(c)(3) organizations able to apply for funding online. First Horizon has also provided immediate assistance through manpower and essential supplies distribution to associates.
The company has reopened the majority of its banking centers in affected areas and deployed ATMs and mobile banking units to meet clients' needs. Clients can access updates on business operations, fee waivers, loan deferrals, and recovery resources on the First Horizon website.
First Horizon Foundation, established in 1993, has donated over $150 million to community needs, focusing on areas such as Arts & Culture, Education & Leadership, Environment, Financial Literacy, and Health & Human Services. First Horizon Corp. (NYSE: FHN) is a leading regional financial services company with $82.2 billion in assets as of June 30, 2024.
First Horizon Corp. (NYSE: FHN) has announced that its Chief Marketing Officer Erin Pryor has been named one of the 2024 Super Women in Business by the Memphis Business Journal. This recognition honors 25 female leaders from various industries for their exceptional leadership qualities and commitment to community reinvestment. The award acknowledges women who have succeeded at the highest level of leadership and are key decision-makers in their respective businesses.
Bryan Jordan, Chairman, President, and CEO of First Horizon, expressed pride in Pryor's achievement, highlighting her contributions to the company over the past three years. Jordan noted Pryor's role in driving client growth and strengthening the brand across First Horizon's 12-state footprint, as well as her engagement with the Memphis community.
First Horizon Corp. (NYSE: FHN) announces that its female leadership team has been named one of American Banker's Most Powerful Women in Banking Top Teams for 2024. This marks the second time members of First Horizon's Executive Management Committee have received this recognition. The female members comprise 60% of the leadership team, including key executives in risk management, communications, finance, operations, marketing, human resources, and credit.
The team's strategic focus is on enhancing shareholder value through client-centricity and serving as trusted advisors. They are also committed to investing in associate well-being and community development. First Horizon's CEO, Bryan Jordan, praised the team for their contributions to the company, communities, and for accelerating opportunities for women in the banking industry.
First Horizon Corp. (NYSE: FHN) announces that two of its leaders, Chief Financial Officer Hope Dmuchowski and Chief Operating Officer Tammy LoCascio, have been named to American Banker's 2024 Most Powerful Women in Banking list. Dmuchowski led efforts to reengage investors after a terminated merger, resulting in a 45% stock price rebound and 4% deposit increase. LoCascio implemented a $100 million technology strategy and improved employee compensation. Both leaders are recognized for their contributions to the company, commitment to empowering women, and advancing diversity in financial services.
First Horizon Corp. (NYSE: FHN) announced that Natalie Flanders, Senior Vice President and Head of Investor Relations, has been recognized by American Banker as a NEXT Award recipient. The NEXT Awards honor high-achieving executives under 40 who are shaping the future of financial services.
Hope Dmuchowski, Chief Financial Officer of First Horizon, praised Flanders for her passion, commitment, and mentorship. Flanders began her banking career at First Horizon as an intern in 2009 during the financial crisis and has since held various roles within the organization.
The award ceremony will take place on October 23 in New York City, as part of a series of events including THE MOST POWERFUL WOMEN IN BANKING conference.
First Horizon Corp. (NYSE: FHN) has been recognized on TIME Magazine's World's Best Companies list for 2024. The comprehensive analysis, conducted in partnership with Statista, evaluated companies based on three primary dimensions: Employee Satisfaction, Revenue Growth, and Sustainability (ESG).
The study involved surveys in over 50 countries, with data collected from approximately 170,000 participants. Companies generating a revenue of at least US $100 million in 2023 and demonstrating positive revenue growth from 2021 to 2023 were considered. ESG performance was evaluated using standardized KPIs from Statista's ESG Database and targeted data research.
Bryan Jordan, Chairman, President and CEO of First Horizon, expressed pride in the company's culture and commitment to delivering value to associates, clients, communities, and shareholders.
First Horizon Corp. (NYSE: FHN) has announced that First Horizon Bank is now the Official Bank of the University of Louisiana at Lafayette Ragin' Cajuns. This five-year agreement expands First Horizon's commitment to the University and includes:
- A Ragin' Cajun Visa Debit card
- Prominent in-venue signage
- Entertainment and hospitality opportunities
- Participation in game day fan activations and experiences, including the new Cajun Village
Jerry Prejean, President of Acadiana for First Horizon, highlighted the bank's investment of more than $2.5 million in recent years towards academic and athletic excellence at ULL. Brian Bille, General Manager of LEARFIELD-based Ragin' Cajuns Sports Properties, expressed excitement about building affinity with fans through this enhanced partnership.
FAQ
What is the current stock price of First Horizon Corporation (FHN)?
What is the market cap of First Horizon Corporation (FHN)?
What are the primary business segments of First Horizon Corporation?
How does First Horizon generate its revenue?
In which geographical areas does First Horizon primarily operate?
How does First Horizon differentiate itself from other regional banks?
What types of financial products and services does the Consumer & Wealth segment offer?
How does First Horizon maintain trust and financial integrity?
