First Horizon Q1 2024 EPS $0.33, adjusted $0.35; NIM expands 10 bps

FIRST HORIZON CORP

2024-Q1 EPS reported $0.33 revenue$819,000,000

GAAP diluted EPS $0.33 vs $0.31 QoQ; adjusted EPS $0.35, up 9% linked quarter.
Net interest margin 3.37% (+10 bps) on improved loan and deposit repricing.
Total revenue $819M (+2% QoQ); fee income $194M (+9%) driven by fixed income ADR $731k.
Loans grew 1% to $61.8B; deposits stable at $65.7B; CET1 ratio 11.3%.
Notable items: $10M FDIC special assessment, $5M restructuring; Series D preferred stock redemption on 5/1/24.

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