Non-GAAP measures are reported to FHN's management and Board of Directors through various internal reports. Although other entities may use calculation methods that differ from those used by FHN for non-GAAP measures, FHN's management believes such measures are relevant to understanding the financial condition, capital position, and financial results of FHN and its business segments. banking regulations currently applicable to FHN. Use of Non-GAAP Measures and Regulatory Measures that are not GAAPĬertain measures included in this report are "non-GAAP," meaning they are not presented in accordance with generally accepted accounting principles in the U.S.
#First horizon bank update#
Examples of uncertainties and contingencies include those mentioned: in this document in Items 2.02 and 7.01 of FHN's Current Report on Form 8-K to which this document has been filed as an exhibit in the forepart, and in Items 1, 1A, and 7, of FHN's most recent Annual Report on Form 10-K, as amended and in the forepart, and in Item 1A of Part II, of FHN's Quarterly Report(s) on Form 10-Q filed this year.įHN assumes no obligation to update or revise any forward-looking statements that are made in this document or in any other statement, release, report, or filing from time to time. Forward-looking statements can be identified by the words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward," and other expressions that indicate future events and trends.įorward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic, and competitive uncertainties and contingencies, many of which are beyond FHN's control, and many of which, with respect to future business decisions and actions (including acquisitions and divestitures), are subject to change and could cause FHN's actual future results and outcomes to differ materially from those contemplated or implied by forward-looking statements or historical performance. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results, or other developments. Forward-looking statements pertain to FHN's beliefs, plans, goals, expectations, and estimates. This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). In addition, the financial results and earnings presentation will be furnished on a Form 8-K that will be available on the Securities and Exchange Commission website at Forward-Looking Statements The third quarter 2022 earnings materials are available on. While we are keeping a watchful eye on the macroeconomic landscape, credit quality remains strong, and we have great confidence in our future prospects associated with the proposed transaction with TD Bank Group." "This quarter's results, highlighted by high-teens revenue growth, reflect the power of our asset-sensitive balance sheet and attractive mix of higher-growth geographies and specialty businesses," said Chairman and Chief Executive Officer Bryan Jordan." The team continues to leverage the benefits of our completed integration to deliver value-added products with exceptional service which helped drive four percent loan growth before the impact of paycheck protection program and mortgage warehouse loans. Results reflect a $0.04 per share reduction tied to provision for credit losses as well as the impact of the suspension of share repurchases related to the proposed TD transaction. Excluding notable items, adjusted third quarter 2022 NIAC of $252 million, or $0.44 per share, increased from $195 million, or $0.34 per share in second quarter 2022. Third quarter 2022 results were impacted by a net $5 million after-tax, or $0.01 per share, increase in notable items compared with a net $29 million, or $0.05 per share, reduction in second quarter 2022.
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