First Horizon Corporation Stock Price, News & Analysis

First Horizon Bank announced the appointment of Todd Williams as Market President for the Piedmont Triad and Ben Shoemake for the Greensboro/High Point market. These strategic hires are part of the bank's commitment to enhance its presence in the region. Williams, with over 20 years in commercial lending, previously served as Triad Market Executive at Atlantic Union Bank. Shoemake brings significant experience from First Citizens Bank. The bank operates 24 locations and holds $2 billion in deposits in the Piedmont Triad, aiming for localized decision-making and leadership.

First Horizon Corporation (NYSE: FHN) will have its President of Regional Banking and interim CFO, Anthony Restel, participate in the Bank of America 2021 Banking and Financials Conference on November 9, 2021, at 11:20 am ET. A live webcast and audio replay will be available on their investor relations website. With $88.5 billion in assets as of September 30, 2021, First Horizon operates across 12 southern U.S. states and offers a variety of financial services. The company is recognized for its workplace culture and reputation among banks.

First Horizon Corporation (NYSE: FHN) has authorized a $500 million increase in its existing share repurchase program, bringing total repurchase capacity to approximately $727 million. This decision reflects the company's strong capital position and commitment to enhancing shareholder returns. Additionally, the board declared a quarterly dividend of $0.15 per share, payable on January 3, 2022. The share buybacks will depend on various factors including financial performance and market conditions, and the program's expiration has been extended to October 31, 2023.

On October 21, 2021, First Horizon Foundation announced a lead gift of $1 million to support conservation efforts along the Mississippi River floodplains, particularly at the Memphis/Arkansas state line. This initiative, in collaboration with Big River Park Conservancy, Ducks Unlimited, and TennGreen Land Conservancy, aims to acquire and restore 1,500 acres of land. The project will enhance recreational opportunities and environmental quality for the community. With a focus on environmental sustainability, First Horizon continues to demonstrate its commitment to community welfare through its Corporate Social Responsibility strategy.

First Horizon Corporation (FHN) reported a third-quarter 2021 net income available to common shareholders of $224 million, or $0.41 per share, down from $295 million or $0.53 in the previous quarter. Notable items related to the IBERIABANK Merger impacted results, contributing a $51 million after-tax reduction. Adjusted net income was $275 million, a decline from $321 million in Q2. However, the firm experienced a 1% increase in core net interest income and noted loan growth of 1% before PPP impacts, highlighting resilience amidst a challenging interest rate environment.

First Horizon Corporation (NYSE: FHN) announced key personnel changes effective November 1, 2021. Anthony Restel will become President of Regional Banking while continuing as interim CFO until a successor is found. Tammy LoCascio has been appointed Chief Operating Officer, and Tanya Hart will become Chief Human Resources Officer. Restel replaces Michael Brown, who is retiring. CEO Bryan Jordan expressed confidence in the team’s ability to drive strategic growth and improve operational efficiencies amidst changing market conditions.

First Horizon National Corp. (NYSE: FHN) announced the appointment of Key Coker as the new Dallas/Fort Worth Market President. With over 35 years of banking experience, Coker will lead the company's growth in the Dallas and Fort Worth markets. His previous role was as CEO at BBVA in Dallas. First Horizon recently merged with IBERIABANK, forming an $85 billion regional bank. Coker expressed excitement about joining during this transformative period for the company, which offers a range of financial services across 12 states.

Wipro Limited has partnered with First Horizon Bank to enhance the core banking channels of VirtualBank, a digital bank obtained from IBERIABANK during their 2020 merger. The collaboration includes the transformation of legacy systems to a cloud-based infrastructure, completed within eight months. Wipro’s services covered program management, data migration, and fintech integration, solidifying the digital bank’s capabilities. The partnership aims to improve customer service and regulatory compliance.

On Sept. 9, 2021, the Louisiana First Horizon Foundation pledged $1 million to assist communities affected by Hurricane Ida. The funds will support local non-profits addressing urgent community needs. Following the disaster, IBERIABANK/First Horizon distributed essential supplies and provided financial support through its Associate Relief Fund. Most banking centers in impacted areas have resumed operations with limited hours. The foundation aims to enhance community resilience, reflecting First Horizon's commitment to support its associates, clients, and the communities it serves.