First Horizon Corporation reports developments in regional banking through its bank subsidiary, First Horizon Bank. The company operates in 12 states concentrated in the southern U.S. and offers commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income and mortgage banking services.
Recurring news includes quarterly results, common and preferred stock dividends, preferred-stock redemptions, and changes affecting depositary shares. Company updates also cover treasury management, commercial banking, business banking and private client banking leadership across its southern U.S. markets.
TD Bank Group (TD) and First Horizon Corporation (FHN) have agreed to extend the deadline for their proposed merger from February 27 to May 27, 2023. Both banks reaffirm their commitment to the transaction, which seeks to benefit customers and communities. Shareholders of First Horizon voted overwhelmingly in favor, while progress is ongoing regarding community benefit plans. Completion of the merger is contingent upon regulatory approvals in the U.S. and Canada. This extension aims to ensure a seamless integration process and alignment of strategic goals.
Mindgruve, a leading digital marketing agency, received two Platinum Awards at the 2023 AVA Digital Awards for its Let's Find a Way campaign for First Horizon Bank. The campaign, aimed at enhancing brand awareness and client trust, featured real client stories and targeted the bank's newly acquired markets. It achieved significant quarter-over-quarter increases in impression volume and customer acquisition. Mindgruve serves as the agency of record for First Horizon, managing creative, digital media, and web presence. First Horizon has assets of $80.3 billion as of September 30, 2022, and operates across 12 states.
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First Horizon Corporation (NYSE: FHN) announced a quarterly common stock dividend of $0.15 per share, payable on April 3, 2023, to shareholders recorded by March 17, 2023. The Company also declared cash dividends on its preferred stock series: Series C at $165.00 per share, Series D at $305.00, Series E at $1,625.00, and Series F at $1,175.00. These payments are scheduled for May 1, 2023, and April 10, 2023. However, the common stock dividend will not be paid if the pending acquisition by TD Bank Group is completed before the record date.
First Horizon Corporation (NYSE: FHN) reported a fourth quarter 2022 net income available to common shareholders of $258 million or earnings per share of $0.45, consistent with the third quarter. Adjusted net income for the fourth quarter increased to $293 million or $0.51 per share, up from $252 million in the previous quarter. Full year net income declined to $868 million compared to $962 million in 2021, impacted by provision expenses. Despite a challenging economic environment, the company achieved strong loan growth and met its annualized cost savings target of $200 million.
First Horizon Corp. (NYSE: FHN) has been recognized as a Great Place to Work®, based on employee feedback regarding their workplace experience. This certification reflects the company's commitment to providing a positive environment for its associates. According to Great Place to Work research, employees at certified workplaces are significantly more likely to enjoy their jobs and feel fairly compensated. With $80.3 billion in assets as of September 30, 2022, First Horizon operates in 12 southern U.S. states, offering a range of financial services and has been acknowledged as one of the best employers by multiple reputable sources.
First Horizon announces that Keva Latham, SVP Director of Compensation, has been recognized in Color Magazine's 2022 Power 40 Under 40 list, celebrating rising leaders in business and community. This accolade honors individuals who demonstrate exceptional leadership and community involvement. Bryan Jordan, President and CEO, commended Latham for her mentoring and community engagement efforts, notably founding the Banking and Buckets Youth Financial Literacy Camp. As of September 30, 2022, First Horizon had $80.3 billion in assets, offering diverse financial services across the southern U.S.
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First Horizon Corporation (NYSE: FHN) is set to release its fourth quarter and full year 2022 financial results on January 18, 2023, after market closure. Financial materials will be available on the company's website for investors. As of September 30, 2022, First Horizon reported $80.3 billion in assets, with operations spanning 12 states in the southern U.S. The company has been recognized as one of the nation's top employers and reputable banks.
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.