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.
First Horizon Corporation (NYSE: FHN) is a regional financial services company headquartered in Memphis, Tennessee, with its primary banking subsidiary operating as First Horizon Bank. This news page aggregates coverage related to FHN, giving readers a focused view of company developments across its commercial banking, consumer banking, wealth and trust management, capital markets, fixed income and mortgage banking activities.
News about First Horizon frequently centers on financial results and earnings communication. The company regularly announces quarterly and full-year earnings, accompanied by detailed releases and investor slide presentations that are also furnished to the SEC on Form 8-K. These updates often discuss net income available to common shareholders, earnings per share, adjusted results that exclude notable items, and commentary on revenue strength, credit performance and capital position.
Another recurring theme in First Horizon’s news flow is leadership and governance. The company issues announcements about new market presidents, regional presidents and senior executives in areas such as consumer distribution, ATM strategy and consumer sales. It also reports on additions to its Board of Directors, describing the professional backgrounds of new independent directors and related changes to board size and committee assignments.
Readers can also expect news related to strategic positioning and recognition, including participation in financial services conferences and recognition of company leaders in industry programs. These stories often highlight First Horizon’s role as a regional financial services company with operations concentrated in the southern U.S. For investors and observers, following FHN news provides insight into the company’s performance, leadership priorities and ongoing activities in its core banking and capital markets businesses.
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First Horizon Corporation (NYSE: FHN) announced its transition from USD LIBOR to CME Term SOFR as the reference rate for certain outstanding securities after June 30, 2023. This change comes after the UK’s Financial Conduct Authority confirmed the cessation of USD LIBOR publication. As part of the transition, the LIBOR Act will disregard fallback language in existing contracts, ensuring automatic conversion to CME Term SOFR plus a spread adjustment of 0.26161%. The applicable securities include various series of preferred stocks and trust preferred securities. With approximately $80.7 billion in assets, First Horizon remains a leading regional financial services provider, operating across 12 southern U.S. states. The company is recognized for its strong workplace reputation and commitment to customer service.
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First Horizon Corporation (NYSE: FHN) reported strong first quarter 2023 results, with a net income available to common shareholders of $243 million or earnings per share (EPS) of $0.43. This compares to $258 million or $0.45 EPS in the previous quarter. The company's pre-provision net revenue surged by 77% compared to the prior year, reaching significant growth on an adjusted basis. The return on tangible common equity (ROTCE) stood at 17.4%, with an adjusted ROTCE of 18.6%, and a tangible book value per share of $10.89. Notably, the first quarter results were affected by notable items, resulting in a net reduction of $16 million after-tax.
First Horizon Corporation has been awarded 14 recognitions in the 2022 Greenwich Excellence and Best Brand Awards for its performance in U.S. Small Business Banking and Middle Market Banking. The awards highlight the bank's focus on quality service and innovative banking tools aimed at enhancing business performance. Based on feedback from nearly 20,000 businesses, the awards reveal high client satisfaction and trust. With $79 billion in assets, First Horizon operates in 12 states, offering a wide range of financial services. The bank has been recognized among the best U.S. employers and a top-rated bank for reputation.
First Horizon Corporation (NYSE: FHN) has announced that it will release its first quarter 2023 financial results after market close on April 18, 2023. The earnings materials will be accessible on their website under Events and Presentations. As of December 31, 2022, First Horizon reported assets totaling $79 billion, positioning itself as a leading regional financial services provider. The company operates across 12 states in the southern U.S. and offers a wide range of banking services. Its reputation has been bolstered by recognition from Fortune and Forbes for being among the best employers and the top 10 most reputable U.S. banks.