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.
First Horizon Corporation announced a financial commitment to develop a Blue Carbon Database for coastal habitats in the U.S. Southeast and Gulf of Mexico. The partnership, including the ETSU Research Corporation and S.C. Sea Grant Consortium, aims to create a searchable GIS database featuring shovel-ready projects for Blue Carbon investment. Expected completion is late-2023. The initiative is projected to enhance carbon sequestration and bolster local community resilience and biodiversity. First Horizon seeks to leverage its financial expertise to support nature-based solutions.
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First Horizon Corporation reported a significant increase in third quarter net income available to common shareholders, reaching $257 million or $0.45 per share, compared to $166 million or $0.29 per share in the previous quarter. Adjusted results also showed growth, with net income of $252 million or $0.44 per share. Notably, pre-provision net revenue surged by 59% quarter-over-quarter, reflecting strong loan growth and asset sensitivity amidst a robust economic backdrop.
First Horizon Foundation has pledged $500,000 for Hurricane Ian relief efforts to support affected communities. These funds will be allocated to nonprofit organizations addressing urgent needs. Following the storm, the company provided essential supplies and continues to assist its associates through the Associate Relief Fund. Most banking centers in impacted areas are now operational, and ATMs are available in Ft. Myers. The Foundation has donated over $125 million since its inception in 1993, focusing on various community needs.
First Horizon has been named a Top Team in American Banker's 2022 Most Powerful Women in Banking program, celebrating its 20th anniversary. This recognition highlights the bank's commitment to diversity, equity, and inclusion in financial services. Criteria for selection included performance of women-led business units and improvements in women's representation in leadership roles. Bryan Jordan, CEO, expressed pride in their accomplished team, which includes key female leaders like Terry Akins and Beth Ardoin. First Horizon, with $85.1 billion in assets as of June 30, 2022, operates across 12 states.
First Horizon and Operation HOPE have launched the first 'HOPE Inside' location in Louisiana to provide free financial coaching services. Situated at First Horizon's Mid-City Canal Banking Center in New Orleans, this initiative aims to enhance financial literacy and empower low- to moderate-income families. Since its inception in 2014, First Horizon has increased HOPE Inside to 30 locations across its footprint, offering workshops and one-on-one counseling to improve money management skills. The program plays a crucial role in the financial inclusion network, transitioning individuals toward better financial stability.
First Horizon Corporation (NYSE: FHN) will release its third quarter financial results on October 18, 2022, after market close. The earnings materials will be accessible on the company's website under Events and Presentations. With $85.1 billion in assets as of June 30, 2022, First Horizon is a prominent regional financial services firm, operating in 12 southern U.S. states. The firm provides various banking and financial services, including commercial and private banking.
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On August 16, 2022, Turk and Company announced the acquisition of Lenders Title Group, a subsidiary of First Horizon Corporation (NYSE:FHN), by Knox-Precision Holdings, LLC. Lenders Title, one of the largest title insurance agencies in the Southeastern U.S., has over 100 years of experience. The acquisition is expected to enhance Knox-Precision's plans to expand its geographic footprint and build a leading independent title agency. Both parties expressed satisfaction with the deal, highlighting the potential for employee growth and operational synergies.