First Horizon Corporation reported third quarter 2024 net income available to common shareholders (NIAC) of $213 million, or $0.40 per share, an increase from $184 million, or $0.34 per share, in the second quarter of 2024. Adjusted NIAC was $224 million, or $0.42 per share, up $0.06 from the prior quarter.
The company achieved a Return on Average Tangible Common Equity (ROTCE) of 12.6% and an Adjusted ROTCE of 13.2%, with Tangible Book Value per Share reaching $13.02, an increase of $0.81 quarter-over-quarter. Net charge-offs declined for the second consecutive quarter, and the Common Equity Tier 1 (CET1) ratio stood at 11.2%.
First Horizon repurchased 5 million shares of common stock for $75 million during the quarter, demonstrating capital deployment. Chairman, President, and CEO Bryan Jordan highlighted strong performance from counter-cyclical businesses and stable credit quality, reflecting the strength of its diversified business model.
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