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 (NYSE: FHN) has published its Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) Impact Report for 2021 and early 2022. The report outlines progress across five key pillars: Governance, Associates, Clients, Communities, and Environment. Notable achievements include assigning ESG oversight to the board, calculating GHG emissions, and investing over $19 million in community initiatives. The company emphasizes its commitment to sustainable economic growth and enhancing stakeholder value.
First Horizon Corporation (NYSE: FHN) announced shareholder approval for The Toronto-Dominion Bank (TD) to acquire it, with the transaction expected to close in Q1 of TD's 2023 fiscal year, pending regulatory approvals. The CEO, Bryan Jordan, emphasized the deal's strategic benefits and the value it brings to stakeholders. The press release includes cautionary notes about forward-looking statements related to potential risks that could affect the transaction's completion, including regulatory hurdles and market conditions.
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First Horizon Corporation (NYSE: FHN) has announced a quarterly common stock dividend of $0.15 per share, payable on July 1, 2022, to shareholders of record by June 10, 2022. The company also declared cash dividends for its preferred stock series, including Series B with $331.25 per share, Series C at $165.00, Series E at $1,625.00, and Series F at $1,175.00 per share. Additionally, a $9.47917 quarterly dividend for First Horizon Bank's Class A Preferred Stock is also set for July 11, 2022, with a record date of June 24, 2022.
First Horizon Corp. (NYSE: FHN) announced the winners of its Back to Business Contest, awarding $1 million in cash prizes to 48 small businesses across 16 regions, including Alabama, Arkansas, Florida, Georgia, Louisiana, and Texas. The contest, aimed at supporting resilient businesses, received 2,300 entries and recognized winners based on public voting. Prizes ranged from $30,000 for first place to $5,000 for sweepstakes winners. The company emphasizes its commitment to fostering local communities through financial support.
First Horizon Corporation (NYSE: FHN) reported a first quarter 2022 net income of $187 million, or $0.34 per share, down from $219 million and $0.40 per share in the previous quarter. Adjusted net income fell to $211 million or $0.38 per share, compared to $260 million or $0.48 per share in Q4 2021. The decline was attributed to lower provision credit. The company also reported a ROTCE of 13.0% and an adjusted ROTCE of 14.7%, with a tangible book value per share of $10.46.
CEO Bryan Jordan noted successes in loan growth and integration efforts, while expressing concern over global uncertainties.
First Horizon Corporation (NYSE: FHN) announced a revised date for releasing its first-quarter financial results, now set for April 19, 2022, after market close. This change comes amid a proposed transaction with TD Bank Group. Importantly, FHN management will not conduct conference calls related to the earnings materials. As of December 31, 2021, the company held $89.1 billion in assets and operates in 12 states, offering various banking and financial services. Earnings materials will be accessible on their website.
TD Bank Group has signed a definitive agreement to acquire First Horizon Corporation in an all-cash transaction valued at US$13.4 billion, or US$25.00 per common share. This acquisition aims to enhance TD's presence in the Southeastern U.S., offering immediate scale and growth opportunities. Upon completion, First Horizon CEO Bryan Jordan will join TD as Vice Chair. The deal is expected to be immediately accretive to TD's adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. The transaction is anticipated to close in Q1 of TD’s 2023 fiscal year.
TD Bank Group has announced an all-cash deal to acquire First Horizon for US$13.4 billion, or US$25.00 per common share. This acquisition positions TD as a top 6 U.S. bank with approximately US$614 billion in assets and a network of 1,560 branches across 22 states. The transaction is expected to be immediately accretive to adjusted EPS and generate approximately US$610 million in pre-tax cost synergies. TD aims to expand First Horizon's community investments and retain all client-facing bankers. The deal is subject to regulatory approvals and expected to close in Q1 2023.
The Preiss Company has begun developing Signature Music Row, a 105-unit multifamily housing project in Nashville, Tennessee, marking its first entry into the Nashville market. This project is in partnership with Speedwagon Capital Partners and includes additional loan contributions from First Horizon, with JLL Capital Markets facilitating the debt arrangements. The development features various residential units and is strategically located near Vanderbilt University, amidst a thriving local economy bolstered by job growth from major companies like Amazon and Oracle.