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Stock impact report

First Horizon Reports First Quarter Results and Highlights

First Horizon Corporation (FHN) 
Last first horizon corporation earnings: 4/21 06:30 am Check Earnings Report
US:NYSE Investor Relations: ir.fhnc.com
Company Research Source: GlobeNewswire
MEMPHIS, Tenn., April 21, 2020 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) today announced its first quarter 2020 financial results. The company’s loans to mortgage companies and fixed income businesses were key contributors for the first quarter. Reported earnings per share (EPS) were $0.04, reflecting a significant increase in provision expense. First Horizon recorded provision for loan losses of $145 million, an increase of $135 million from 4Q19, primarily driven by a sudden, steep decline in the economic forecast in the later part of the quarter following widespread societal responses to the COVID-19 pandemic. Effective January 1, 2020, First Horizon adopted Accounting Standards Update (ASU) 2016-13 (CECL). “The COVID-19 pandemic has created unprecedented challenges for our nation, our communities and companies of all sizes. We believe our dedicated employees, diverse businesses, balance sheet capacity and ample liquidity have helped position First Horizon to h Show less Read more
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