FIRST HORIZON CORP

For the period ended Dec 31, 2023. Filed Feb 23, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 23, 2024

FHN$23.56+0.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Income

ITEM 8. FINANCIAL STATEMENTS & SUPPLEMENTARY DATA
Table of Contents	CONSOLIDATED STATEMENTS OF INCOME

(Dollars in millions, except per share data; shares in thousands)	2023	2022	2021
Interest income
Interest and fees on loans and leases	$3,575	$2,292	$1,957
Interest and fees on loans held for sale	51	39	33
Interest on investment securities	247	198	121
Interest on trading securities	78	58	30
Interest on other earning assets	149	96	17
Total interest income	4,100	2,683	2,158
Interest expense
Interest on deposits	1,266	184	81
Interest on trading liabilities	12	12	6
Interest on short-term borrowings	210	23	5
Interest on term borrowings	72	72	72
Total interest expense	1,560	291	164
Net interest income	2,540	2,392	1,994
Provision (benefit) for credit losses	260	95	(310)
Net interest income after provision for credit losses	2,280	2,297	2,304
Noninterest income
Deposit transactions and cash management	179	171	175
Fixed income	133	205	406
Brokerage, management fees and commissions	90	92	88
Card and digital banking fees	77	84	78
Other service charges and fees	54	54	44
Trust services and investment management	47	48	51
Mortgage banking and title income	23	68	154
Gain on merger termination	225	—	—
Securities gains (losses), net	(4)	18	13
Other income	103	75	67
Total noninterest income	927	815	1,076
Noninterest expense
Personnel expense	1,100	1,101	1,210
Net occupancy expense	123	128	137
Deposit insurance expense	122	32	24
Computer software	111	113	116
Operations services	87	87	80
Advertising and public relations	71	50	37
Contributions	61	7	14
Legal and professional fees	49	62	68
Contract employment and outsourcing	49	54	67
Amortization of intangible assets	47	51	56
Equipment expense	42	45	47
Communications and delivery	35	37	37
Impairment of long-lived assets	—	—	34
Other expense	182	186	169
Total noninterest expense	2,079	1,953	2,096

ITEM 8. FINANCIAL STATEMENTS & SUPPLEMENTARY DATA
Table of Contents	CONSOLIDATED STATEMENTS OF INCOME

Income before income taxes	1,128	1,159		1,284
Income tax expense	212	247	274
Net income	$916	$912		$1,010
Net income attributable to noncontrolling interest	19	12	11
Net income attributable to controlling interest	$897	$900		$999
Preferred stock dividends	32	32	37
Net income available to common shareholders	$865	$868		$962
Basic earnings per share	$1.58	$1.62		$1.76
Diluted earnings per share	$1.54	$1.53		$1.74
Weighted average common shares	548,410	535,033		546,354
Diluted average common shares	561,732	566,004		551,241

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.