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) 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.
First Horizon Corporation (NYSE: FHN) has announced the postponement of the IBERIABANK operating system conversion until Q1 2022 due to Hurricane Ida's impact. The pre-tax merger integration costs are now expected to reach $520-$530 million, an increase of $20-$30 million. Despite these challenges, the Company aims to achieve $200 million in pre-tax annualized cost savings by Q4 2022. Approximately 8,350 clients with $3 billion in loans are affected, with various forms of assistance being provided to both clients and associates.
First Horizon Corporation (NYSE: FHN) announced that CEO Bryan Jordan will attend the Barclays Global Financial Conference on September 14, 2021, at 2:00 pm ET. The event will feature a live webcast, accessible on the First Horizon Investor Relations website.
As of June 30, 2021, First Horizon holds $87.9 billion in assets, providing services including commercial and private banking across 12 southern U.S. states. The company is recognized among the best employers and reputable banks in the nation.
First Horizon Corporation (NYSE: FHN) has declared a quarterly common stock dividend of $0.15 per share, payable on October 1, 2021, to shareholders of record by September 10, 2021. Additionally, cash dividends were approved for its preferred stock series, including Series C with $165.00 per share, Series D with $305.00, Series E with $1,625.00, and Series F with $1,175.00. These dividends are set to be paid on November 1, 2021, for Series C and D, and on October 12, 2021, for Series E, F, and Class A Preferred Stock.
First Horizon Bank has appointed Hunter Hill as Chief Digital Transformation Officer and promoted Tony Adams to New Orleans Market President. Hill, who previously served as New Orleans Market President, will now lead the bank's digital vision and strategy, enhancing capabilities across various business lines. Meanwhile, Adams has been pivotal in expanding the bank's presence in North Louisiana. President and CEO Bryan Jordan emphasized the importance of advancing digital banking to meet evolving client needs. First Horizon Corp. has $87.6 billion in assets as of June 30, 2021.
First Horizon Corporation (NYSE:FHN) reported strong financial results for Q2 2021, with a net income of $295 million, or $0.53 per share, up from $225 million in Q1. Adjusted net income increased to $321 million, or $0.58 per share. The return on tangible common equity (ROTCE) improved to 20.4%. Tangible book value per share rose 4% to $10.74. Notably, Q2 results were impacted by $26 million in notable items related to the IBERIABANK merger. The company anticipates increasing loan demand and economic growth in the latter half of the year.
First Horizon Corporation (NYSE: FHN) announced a cash dividend of $874.72 per share on its 4.70% Non-Cumulative Perpetual Preferred Stock, Series F. This translates to $0.218680 per Depositary Share, as a correction to a previous announcement regarding the dividend rate. The dividend is payable on July 12, 2021, to shareholders of record as of June 30, 2021. First Horizon, with $87.5 billion in assets, operates across 12 states in the southern U.S., providing a range of financial services.