{"id":479302,"date":"2021-04-21T06:48:11","date_gmt":"2021-04-21T10:48:11","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/"},"modified":"2021-04-21T06:48:11","modified_gmt":"2021-04-21T10:48:11","slug":"first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/","title":{"rendered":"First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis*"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"center\">\n        <strong><br \/>\n          <em>First quarter 2021 ROTCE of 15.9%; Adjusted ROTCE of 20.2% improved from 18.2% in fourth quarter 2020*<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"center\">\n        <strong><br \/>\n          <em>Tangible book value per share of $10.30 up 1% from fourth quarter 2020<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">MEMPHIS, Tenn., April  21, 2021  (GLOBE NEWSWIRE) &#8212; First Horizon Corporation (NYSE: FHN or \u201cFirst Horizon\u201d) today reported first quarter 2021 net income available to common shareholders (&#8220;NIAC&#8221;) of $225 million, or earnings per share of $0.40, compared with fourth quarter 2020 NIAC of $234 million, or earnings per share of $0.42. First quarter 2021 results were reduced by a net $60 million after-tax, or $0.11 per share, of notable items largely related to the IBERIABANK Corporation Merger (&#8220;IBKC Merger&#8221;) compared with a net $20 million after-tax reduction, or $0.04 per share, in fourth quarter 2020. Excluding notable items, adjusted first quarter 2021 NIAC of $284 million, or $0.51 per share, increased from $255 million, or $0.46 per share in fourth quarter 2020.*<\/p>\n<p align=\"justify\">&#8220;Our balanced business model and countercyclical businesses continued to perform well in the first quarter,&#8221; said President and Chief Executive Officer Bryan Jordan. &#8220;Credit quality improved, and our expense discipline resulted in incremental cost savings. Merger integration efforts are going well, and I am proud of our associates\u2019 unwavering support of our clients and communities. Annualized merger-related cost savings totaled $76 million in the first quarter, and since the inception of the most recent phase of the Paycheck Protection Program, we have assisted clients and their employees by funding over 15,000 loans totaling approximately $1.5 billion.&#8221;<\/p>\n<p align=\"justify\">Jordan continued, &#8220;Thank you to our associates for their extraordinary dedication to our clients and communities and focus on growing our business all while helping to bring our two companies together.&#8221;<\/p>\n<p align=\"justify\">The first quarter 2021 earnings materials are available on <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=SaFrDgdl3u3oQw_kXRK4SNrhehZuvjeUjMJbOtuEN0eVKkOlNQcOJyhs7I16pygGOlWzH92gYrUiwnEvNtTbKA==\" rel=\"nofollow noopener\" target=\"_blank\"><strong><u>https:\/\/ir.fhnc.com<\/u><\/strong><\/a>. In addition, the financial results and earnings presentation will be furnished on a Form 8-K that will be available on the Securities and Exchange Commission website at www.sec.gov.<\/p>\n<p align=\"justify\">\n        <strong>Conference call information<\/strong><br \/>\n        <br \/>Analysts, investors and interested parties may call toll-free starting at 8:15 a.m. CT on April 21 by dialing 1-888-317-6003 (if calling from the U.S.) or 412-317-6061 (if calling from outside the U.S) and entering access code 3384998. The conference call will begin at 8:30 a.m. CT. Participants can also opt to listen to the live audio webcast with the accompanying slide presentation at http:\/\/ir.fhnc.com\/Event.<\/p>\n<p align=\"justify\">A replay of the call will be available beginning at noon CT on April 21 until midnight CT on May 5. To listen to the replay, dial 1-877-344-7529 (U.S. callers) or 412-317-0088 (international callers); the access code is 10153245. A replay of the webcast will also be available at http:\/\/ir.fhnc.com\/Event and will be archived on the site for one year.<\/p>\n<p align=\"justify\">*References to &#8220;Adjusted&#8221; results exclude notable items and are Non-GAAP Financial Measures. All references to loans include leases. All references to earnings per share are based on diluted shares. Please reference the first quarter 2021 earnings conference call materials at https:\/\/ir.fhnc.com (News &amp; Events | Events &amp; Presentations) for a description of our use of Non-GAAP measures and a reconciliation of these measures to GAAP presentation.<\/p>\n<p align=\"justify\">FHN-G<\/p>\n<p align=\"justify\">\n        <strong>Contact:<\/strong>\n      <\/p>\n<p align=\"justify\">Investor Relations, Ellen Taylor (901) 523-4450<\/p>\n<p align=\"justify\">Media Relations, Beth Ardoin, (337) 278-6868<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyMDU5OSM0MTMwOTY0IzIwMDcxNTI=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/084ede66-e087-486b-aab6-aac8de93a809\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>First quarter 2021 ROTCE of 15.9%; Adjusted ROTCE of 20.2% improved from 18.2% in fourth quarter 2020* Tangible book value per share of $10.30 up 1% from fourth quarter 2020 MEMPHIS, Tenn., April 21, 2021 (GLOBE NEWSWIRE) &#8212; First Horizon Corporation (NYSE: FHN or \u201cFirst Horizon\u201d) today reported first quarter 2021 net income available to common shareholders (&#8220;NIAC&#8221;) of $225 million, or earnings per share of $0.40, compared with fourth quarter 2020 NIAC of $234 million, or earnings per share of $0.42. First quarter 2021 results were reduced by a net $60 million after-tax, or $0.11 per share, of notable items largely related to the IBERIABANK Corporation Merger (&#8220;IBKC Merger&#8221;) compared with a net $20 million after-tax reduction, or $0.04 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis*&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-479302","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis* - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis* - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"First quarter 2021 ROTCE of 15.9%; Adjusted ROTCE of 20.2% improved from 18.2% in fourth quarter 2020* Tangible book value per share of $10.30 up 1% from fourth quarter 2020 MEMPHIS, Tenn., April 21, 2021 (GLOBE NEWSWIRE) &#8212; First Horizon Corporation (NYSE: FHN or \u201cFirst Horizon\u201d) today reported first quarter 2021 net income available to common shareholders (&#8220;NIAC&#8221;) of $225 million, or earnings per share of $0.40, compared with fourth quarter 2020 NIAC of $234 million, or earnings per share of $0.42. First quarter 2021 results were reduced by a net $60 million after-tax, or $0.11 per share, of notable items largely related to the IBERIABANK Corporation Merger (&#8220;IBKC Merger&#8221;) compared with a net $20 million after-tax reduction, or $0.04 &hellip; Continue reading &quot;First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis*&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-21T10:48:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyMDU5OSM0MTMwOTY0IzIwMDcxNTI=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; 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First quarter 2021 results were reduced by a net $60 million after-tax, or $0.11 per share, of notable items largely related to the IBERIABANK Corporation Merger (&#8220;IBKC Merger&#8221;) compared with a net $20 million after-tax reduction, or $0.04 &hellip; Continue reading \"First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; $284 million, or $0.51, on an Adjusted Basis*\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-21T10:48:11+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyMDU5OSM0MTMwOTY0IzIwMDcxNTI=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/first-horizon-corporation-reports-first-quarter-net-income-available-to-common-shareholders-of-225-million-or-eps-of-0-40-284-million-or-0-51-on-an-adjusted-basis\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"First Horizon Corporation Reports First Quarter Net Income Available to Common Shareholders of $225\u00a0million, or EPS of $0.40; 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