First Horizon National ( (FHN) ) has released its Q4 earnings. Here is a breakdown of the information First Horizon National presented to its investors.
Stay Ahead of the Market:
- Discover outperforming stocks and invest smarter with Top Smart Score Stocks
- Filter, analyze, and streamline your search for investment opportunities using Tipranks' Stock Screener
First Horizon Corporation, a leading financial services company based in Memphis, operates across the southern U.S. offering a range of commercial, consumer banking, and wealth management services. The company has been recognized as one of the nation’s most reputable banks.
First Horizon reported a net income available to common shareholders of $738 million for the full year 2024, with earnings per share (EPS) of $1.36. The adjusted net income showed a 5% increase, reaching $843 million or $1.55 EPS, driven by strong credit performance and fee income generation.
Key financial highlights include a modest decline in net interest income by 1% to $2.5 billion compared to the previous year, while noninterest income decreased significantly due to the absence of a merger termination fee received in 2023. The company maintained stable asset quality with a net charge-off ratio of 0.18%, down from 0.28% in 2023, and a slight increase in the allowance for credit losses.
Looking ahead, First Horizon’s management remains optimistic about their ability to deliver profitable growth in 2025, emphasizing strong client relationships and a robust business mix amidst a complex interest rate environment.
