MEMPHIS, Tenn., June 28, 2021 (GLOBE NEWSWIRE) -- First Horizon Corporation (NYSE:FHN) ("First Horizon" or "the Company") announced today the results of its 2021 Bank Holding Company-run capital stress test results which demonstrate the ability to successfully navigate periods of economic stress and maintain capital ratios well above regulatory minimums. These internal results, which utilized the 2021 Severely Adverse Scenario published by the Federal Reserve on February 12, 2021, reflect continued strong risk discipline.

"Our commitment to strong risk management and the benefit of our more diversified business model are highlighted by our stress test results," said William C. Losch, Chief Financial Officer. "Our minimum common equity tier one capital ratio of 8.5% continued to be well above regulatory requirements, and our stressed loss rates and pre-provision net revenue performed significantly better than the Federal Reserve published CCAR-bank medians."

The following table reflects the Company's ending and minimum capital ratios under the Federal Reserve's Severely Adverse Scenario compared to the required regulatory minimums.

% Regulatory Ratio	Actual		Projected Stressed Capital Ratios				Minimum Regulatory Capital Ratios
% Regulatory Ratio	4Q20		Ending		Minimum		Minimum Regulatory Capital Ratios
Common equity tier 1 capital ratio	9.7	%	8.7	%	8.5	%	4.5	%
Tier 1 risk-based capital ratio	10.7	%	9.7	%	9.6	%	6.0	%
Total risk-based capital ratio	12.6	%	11.9	%	11.8	%	8.0	%
Tier 1 leverage ratio	8.2	%	7.7	%	7.4	%	4.0	%

The Company's minimum common equity tier 1 ratio under stress of 8.5% reflects an additional $3.4 billion in pre-tax loss absorption capacity above the 4.5% required regulatory minimum. These results include a $0.15 quarterly common stock dividend throughout the nine-quarter forecast horizon.

First Horizon's commercially-oriented portfolio stressed loss rate of 3.1% was 280 basis points below the Federal Reserve published median CCAR-bank result. The Company's stress test utilized Current Expected Credit Loss-based models for allowance and credit losses and reflected total cumulative losses of $1.7 billion. Additionally, the Company's pre-provision net revenue as a percentage of total assets of 3.3% exceeded the peer median by 170 basis points and reflects the benefit of fee income diversification.

For more information, please see First Horizon's 2021 stress test disclosure at https://ir.fhnc.com/investor-relations/news-and-events/stress-testing-results/default.aspx.

About First Horizon

First Horizon Corp. (NYSE:FHN), with $87.5 billion in assets as of March 31, 2021, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates in 12 states across the southern United States. The Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. First Horizon has been recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. Bank. More information is available at www.FirstHorizon.com.

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CONTACT:		Investor Relations, Ellen Taylor, (901) 523-4450 Media Relations, Beth Ardoin, (337) 278-6868

First Horizon Announces Results of its 2021 Company-Run Stress Test