Welcome to our dedicated page for First Horizon news (Ticker: FHN), a resource for investors and traders seeking the latest updates and insights on First Horizon stock.
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.
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.
First Horizon Corporation (NYSE: FHN) released its 2020 Corporate Social Responsibility Report, emphasizing its merger with IBERIABANK and commitment to ESG practices. The report details achievements in 2020 and early 2021, highlighting investments of approximately $22 million in community support, including $2.5 million for COVID-19 assistance. Key initiatives include appointing new ESG and DEI officers, establishing a CSR Working Group, and creating an ESG framework. The company aims for transparency and accountability in its operations, underscoring its mission of being 'Here for Good.'
First Horizon Corporation announced that its Chief Financial Officer, William “BJ” Losch, will leave for a new opportunity at Live Oak Bancshares, effective July 31, 2021. Chief Operating Officer Anthony Restel will serve as interim CFO during the search for a permanent successor. President and CEO Bryan Jordan praised Losch's contributions over 12 years while expressing confidence in Restel's expertise. As of March 31, 2021, First Horizon had $87.5 billion in assets and operates across 12 Southeast states, aiming to integrate its operations to enhance performance.
First Horizon (NYSE: FHN) announced strong results from its 2021 capital stress tests, demonstrating its ability to withstand economic stress while maintaining capital ratios significantly above regulatory minimums. The common equity tier one capital ratio stood at 9.7%, with a minimum of 8.5% during stress, indicating a robust pre-tax loss absorption capacity of $3.4 billion. Additionally, its stressed loss rate of 3.1% was well below the CCAR-bank median. The company reported pre-provision net revenue as a percentage of total assets at 3.3%, exceeding peer median by 170 basis points, showcasing effective risk management.