FIRST HORIZON CORP

For the period ended Sep 30, 2024. Filed Nov 7, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2024 · Filed Nov 7, 2024

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

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Contents

Consolidated Statements of Income (unaudited)

PART I, ITEM 1. FINANCIAL STATEMENTS

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended September 30,		Nine Months Ended September 30,
(Dollars in millions, except per share data; shares in thousands) (Unaudited)	2024	2023	2024	2023
Interest income
Interest and fees on loans and leases	$996	$941	$2,923	$2,624
Interest and fees on loans held for sale	10	15	27	40
Interest on investment securities	60	62	179	186
Interest on trading securities	22	19	64	57
Interest on other earning assets	31	43	91	107
Total interest income	1,119	1,080	3,284	3,014
Interest expense
Interest on deposits	434	409	1,231	845
Interest on trading liabilities	6	3	18	8
Interest on short-term borrowings	35	46	104	182
Interest on term borrowings	17	17	50	56
Total interest expense	492	475	1,403	1,091
Net interest income	627	605	1,881	1,923
Provision for credit losses	35	110	140	210
Net interest income after provision for credit losses	592	495	1,741	1,713
Noninterest income
Fixed income	47	28	138	97
Deposit transactions and cash management	45	46	134	133
Brokerage, management fees and commissions	27	21	76	66
Card and digital banking fees	19	20	58	61
Other service charges and fees	13	14	40	41
Trust services and investment management	12	12	36	35
Mortgage banking income	9	7	28	18
Gain on merger termination	—	—	—	225
Securities gains (losses), net	1	—	2	1
Other income	27	25	69	68
Total noninterest income	200	173	581	745
Noninterest expense
Personnel expense	282	266	862	821
Net occupancy expense	33	30	95	92
Computer software	30	26	89	82
Operations services	25	21	69	65
Legal and professional fees	15	13	47	33
Advertising and public relations	14	16	37	47
Contract employment and outsourcing	12	12	40	36
Deposit insurance expense	11	14	51	40
Amortization of intangible assets	11	12	33	36
Equipment expense	10	11	32	32
Communications and delivery	8	8	24	27
Contributions	4	3	6	60
Other expense	56	42	142	137
Total noninterest expense	511	474	1,527	1,508
Income before income taxes	281	194	795	950
Income tax expense	58	52	171	223
Net income	$223	$142	$624	$727
Net income attributable to noncontrolling interest	5	5	15	14
Net income attributable to controlling interest	$218	$137	$609	$713
Preferred stock dividends	5	8	28	24
Net income available to common shareholders	$213	$129	$581	$689

7	3Q24 FORM 10-Q REPORT

PART I, ITEM 1. FINANCIAL STATEMENTS

Table of Contents

CONSOLIDATED STATEMENTS OF INCOME (continued)
Basic earnings per common share	$0.40	$0.23	$1.07	$1.26
Diluted earnings per common share	$0.40	$0.23	$1.06	$1.23
Weighted average common shares	534,222	558,559	544,356	544,952
Diluted average common shares	537,971	561,421	547,629	561,930

8	3Q24 FORM 10-Q REPORT

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.