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 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.
First Horizon Bank, listed on the NYSE as FHN, has been named to the Financial Brand's Power 100 Banks Using Social Media. This ranking evaluates the top 100 banks and credit unions based on their social media activity and community size across Facebook, X, YouTube, and Instagram. The data, collected quarterly, includes metrics such as Facebook likes, X followers, YouTube views, and Instagram posts. Erin Pryor, EVP and Chief Marketing and Experience Officer, highlights the bank's commitment to exceptional customer experiences and valuable content distribution. The recognition underscores First Horizon's strong social media presence among approximately 2,000 banks analyzed by the Financial Brand.
First Horizon (NYSE:FHN) will announce its second quarter financial results on July 17, 2024. The news release and supplemental materials will be available on their investor relations website at approximately 6:45 am ET/5:45 am CT.
Management will host a live conference call and webcast presentation at 9:30 am ET/8:30 am CT. The webcast will be accessible through their website. For those dialing in, use the number 1-833-470-1428 in the U.S. or 404-975-4839 outside the U.S., with access code 463278.
A replay of the call will be available until July 31st, accessible at 1-866-813-9403 with access code 610953. The webcast replay will also be archived on the website for one year.
First Horizon (NYSE: FHN) has been named as one of America's Best Employers for New Grads 2024 by Forbes and Statista Inc. The award, announced on May 21, 2024, is based on evaluations from over 100,000 young professionals and public data. Evaluations considered both personal experiences of employees and indirect assessments from friends, family, and industry peers. Tanya Hart, EVP and Chief HR Officer, emphasized the company's commitment to career development and inclusivity. Over 2 million employer evaluations were factored into the ranking.
First Horizon (NYSE: FHN) announced that its Chairman, President, and CEO Bryan Jordan, along with CFO Hope Dmuchowski, will participate in the Morgan Stanley US Financials, Payments & CRE Conference.
The event is scheduled for June 10, 2024, at 2:30 pm ET. A live webcast and an audio replay will be accessible through the First Horizon Investor Relations website.
On May 21, 2024, First Horizon (NYSE: FHN) announced the appointment of Travis LeMonte as Director of Private Client Services. LeMonte will lead the Private Client Banking division, focusing on strategic growth. He brings extensive experience from Regions Bank where he led Private Banking in West Tennessee, Mississippi, and Texas. Previously, he served at SunTrust and as a Private Client Relationship Manager at First Horizon. LeMonte has been active in the Memphis community for over 20 years, working with organizations like Veritas Charter School and United Way of the Mid-South. Leaders at First Horizon praised LeMonte for his expertise and anticipated contributions to the company’s growth and client experience.
First Horizon (NYSE: FHN) has been honored with 19 awards in the 2023 Greenwich Excellence and Best Brand Awards. These recognitions are in the categories of U.S. Small Business Banking and Middle Market Banking, highlighting high-quality service, innovative tools, and valuable insights. The awards were based on feedback from nearly 20,000 businesses and evaluations of over 500 banks across the U.S. Categories included customer satisfaction, cash management, and brand trust. These accolades validate First Horizon's commitment to superior service and strong client relationships.
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