Hamilton Herald Masthead


Front Page - Friday, October 30, 2020

First Horizon reports third quarter net income

First Horizon National Corp. Chattanooga market president Jay Dale says “First Horizon remains strong and stable” despite “economic uncertainty due to coronavirus.” - Photograph provided

First Horizon National Corp. recently reported third quarter 2020 net income available to common shareholders of $523 million, with earnings per share of 95 cents.

Third quarter 2020 results reflect the impact of the July 1 IBERIABANK Corporation merger and the July 17 acquisition of 30 Truist branches, and include $269 million pretax, or 60 cents per share, from notable items largely related to the IBKC Merger.

Excluding notable items, adjusted third quarter net income available to common shareholders totaled $193 million, or 35 cents per share. Reported results before third quarter 2020 reflect legacy First Horizon results only.

“We achieved major milestones in third quarter 2020 with the completion of our merger of equals with IBERIABANK and the Truist branch acquisition,” says President and chief executive officer Bryan Jordan.

Chattanooga market president Jay Dale says, “Although there remains economic uncertainty due to coronavirus, we’re pleased with our earnings report and how asset loan quality is holding up. First Horizon remains strong and stable, and we’re here to help our customers weather these uncertain times.”

The third quarter 2020 earnings materials are available on ir.fhnc.com.

Source: First Horizon National Corp.