secwatch.observer — SEC 8-K summary
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Issuer:     FIRST HORIZON CORP (FHN)
CIK:        0000036966
Form:       8-K
Filed at:   2022-04-19T23:59:59+00:00
Accession:  0000036966-22-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First Horizon Q1 GAAP EPS $0.34 vs $0.40; revenue $707M, down 5% QoQ
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- GAAP diluted EPS $0.34 vs $0.40 in Q4 2021; adjusted EPS $0.38. Revenue $707M, down 5% QoQ.
- Core NII ex day count up 1%, driven by 4% C&I loan growth ex PPP/LMC; NIM 2.37%, down 5 bps.
- Provision credit of $40M (negative provision) due to reduced COVID-19 impacts, partially offset by slower growth forecast.
- Tangible book value fell $0.54 to $10.46, driven by $0.76 MTM loss on securities portfolio in OCI.
- IBKC merger conversion complete; targeting ~$200M annualized net cost saves by 4Q22; $116M achieved.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36966/000003696622000023/0000036966-22-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36966/000003696622000023/fhn-20220419.htm
  HTML page:      https://secwatch.observer/filing/0000036966-22-000023

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer