Banking & Finance

First Horizon Corporation releases 2021 fourth quarter report

By Staff Report, posted 3 years ago

First Horizon recently released their fourth quarter and 2021 year net income report.

 

Fourth-quarter results were reduced by a net $41 million after-tax, or $0.08 per share, of notable items that tie to the IBERIABANK Corporation Merger. This is a decrease compared to the third-quarter results, with a net $51 million after-tax, or $0.09 per share.

 

The full year for 2021 finished with $962 million, or earnings per share of $1.74, which is an increase compared with $822 million, or earnings per share of $1.89 in 2020. Results in 2021 included a net $179 million after-tax reduction from items related to the IBERIABANK Corporation Merger that led to an adjusted amount of $1.1 billion for the year. 

 

"Our solid results for the quarter and the year reflect the underlying momentum in our balanced business model and attractive geographic footprint," said President and Chief Executive Officer Bryan Jordan. "Our continued focus on execution drove improved net interest income, further merger savings and revenue synergies, and improved asset quality that more than offset the impact of expected fee income headwinds. We also increased our return of capital to shareholders through common share repurchases."

 

As of Dec. 31, First Horizon accounted for $89.1 billion in assets, which makes it the leading regional financial service company, dedicated to helping its clients, communities, and associates reach full potential in capital and counsel. 

 

Jordan concluded, "As we look forward to 2022 and beyond, we believe we are well-positioned to benefit from our enhanced capabilities and expertise, dynamic markets, and an improving economic and interest rate environment. We remain focused on growing our core business and selectively transforming by simplifying processes, advancing technology, and redeploying investments to achieve higher-growth and return opportunities and deliver top-quartile results."

Ico insights

INSIGHTS

SPONSORS' CONTENT

In The Current Issue

Building on the basics: Advanced Contractors Academy equips local firms to compete for government projects

The Advanced Contractors Academy, a free six-week program, is designed for established contractors ready to pursue larger-scale public contracts with agencies such as Fayetteville State University (FSU), Cumberland County and Cape Fear Valley Health.


Hungry for success: Local entrepreneur Kelton Battle is changing the vending machine game in North Carolina

Today, Hungry Snacks Vending operates 140 machines across North Carolina, with locations ranging from schools to public transit stations.


Too bright to dim: My Future So Bright program sees exponential growth during third year

 A total of 84 interns participated in this year’s My Future So Bright program. At the graduation ceremony held on Aug. 1, each student was able to receive their graduation certificates from Mid-Carolina Regional Council Executive Director Saman