First Horizon Corporation's Chairman, President, and CEO Bryan Jordan issued a letter to shareholders, highlighting 2024 as a milestone year celebrating 160 years in business. The letter emphasized the company's focus on safety and soundness, profitability, and growth, aiming for a 15% or higher return on tangible common equity (ROTCE) in the coming years.
In 2024, the company reported net income available to common shareholders of $738 million, or $1.36 per share, with a strong net interest margin of 3.35%. The net charge-off rate was 18 basis points for the year, and the CET1 ratio stood at 11.2% even after $933 million in share repurchases and common dividends.
The letter detailed ongoing strategic investments in technology, including AI, robotic process automation, and cloud environments, to enhance efficiency and client experience. It also announced the welcome of Jeffrey J. Brown to the Board of Directors and the upcoming retirements of directors Harry V. Barton and Rosa Sugrañes, thanking them for their service.
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