First Horizon Corporation (FHN)

First Horizon Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	3,912	3,626	2,331	1,990	1,752	1,425
Interest Income on Investments	458	474	352	168	146	199
Total Interest Income	4,370	4,100	2,683	2,158	1,898	1,624
Interest Paid on Deposits	1,652	1,266	184	81	152	307
Interest Paid on Borrowings	220	294	107	83	84	107
Total Interest Expense	1,872	1,560	291	164	236	414
Net Interest Income	2,498	2,540	2,392	1,994	1,662	1,210
Net Interest Income Growth (YoY)	-5.09%	6.19%	19.96%	19.98%	37.36%	-0.82%
Trust Income	48	47	48	51	39	30
Mortgage Banking Activities	33	23	68	154	129	10
Gain (Loss) on Sale of Assets	9	9	22	6	-	-
Gain (Loss) on Sale of Investments	-3	-4	18	13	-6	-
Other Non-Interest Income	496	448	488	677	649	482
Total Non-Interest Income	763	702	815	1,076	959	654
Non-Interest Income Growth (YoY)	10.10%	-13.87%	-24.26%	12.20%	46.64%	-9.54%
Revenues Before Loan Losses	3,261	3,242	3,207	3,070	2,621	1,864
Provision for Loan Losses	190	260	95	-310	503	45
Revenue	3,071	2,982	3,112	3,380	2,118	1,819
Revenue Growth (YoY)	0.03%	-4.18%	-7.93%	59.58%	16.44%	-5.99%
Salaries and Employee Benefits	1,082	1,064	1,026	1,167	1,001	662
Occupancy Expenses	83	80	83	90	78	54
Federal Deposit Insurance	133	122	32	24	-	-
Amortization of Goodwill & Intangibles	44	47	51	56	40	25
Selling, General & Administrative	471	436	481	462	354	270
Other Non-Interest Expense	223	268	273	212	225	159
Total Non-Interest Expense	2,097	2,078	1,953	2,025	1,698	1,170
EBT Excluding Unusual Items	974	904	1,159	1,355	420	649
Asset Writedown	-	-	-	-34	-7	-23
Other Unusual Items	-	-	-	-	533	-
Pretax Income	973	1,128	1,159	1,284	933	586
Income Tax Expense	160	212	247	274	76	134
Earnings From Continuing Operations	813	916	912	1,010	857	452
Minority Interest in Earnings	-20	-19	-12	-11	-12	-11
Net Income	793	897	900	999	845	441
Preferred Dividends & Other Adjustments	36	32	32	37	23	6
Net Income to Common	757	865	868	962	822	435
Net Income Growth	-19.00%	-0.33%	-9.91%	18.22%	91.61%	-19.08%
Basic Shares Outstanding	548	548	535	546	432	314
Diluted Shares Outstanding	551	562	566	551	434	316
Shares Change (YoY)	-2.44%	-0.75%	2.68%	27.10%	37.40%	-3.60%
EPS (Basic)	1.38	1.58	1.62	1.76	1.90	1.39
EPS (Diluted)	1.37	1.54	1.53	1.74	1.89	1.38
EPS Growth	-18.48%	0.65%	-12.07%	-7.94%	36.96%	-16.36%
Dividend Per Share	0.600	0.600	0.600	0.600	0.600	0.560
Dividend Growth	0%	0%	0%	0%	7.14%	16.67%
Effective Tax Rate	16.44%	18.79%	21.31%	21.34%	8.15%	22.87%

Source: S&P Capital IQ. Banks template. Financial Sources.