First Horizon Corporation

Good morning and thank you all for attending the First Horizon fourth quarter 2024 earnings conference call. My name is Brika and I will be the moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I would now like to pass the conference over to your host, Tyler Craft, Head of Investor Relations at First Horizon Bank. Thank you. You may proceed, Tyler.

Thank you, Brica. Good morning. Welcome to our fourth quarter 2024 results conference call. Thank you for joining us. Today, our Chairman, President, and CEO, Brian Jordan, and Chief Financial Officer, Hope Domchowski, will provide prepared remarks after which we'll be happy to take your questions. We're also pleased to have our Chief Credit Officer, Thomas Hung, here to assist with questions as well. Our remarks today will reference our earnings presentation, which is available on our website at ir.firsthorizon.com. As always, I need to remind you that we will make forward-looking statements that are subject to risks and uncertainties. Therefore, we ask you to review the factors that may cause our results to differ from our expectations on page two of our presentation and in our SEC filings. Additionally, please be aware that our comments will refer to adjusted results, which include the impact of notable items, These are non-GAAP measures, so it's important for you to review the GAAP information in our earnings release and on page three of our presentation. And last but not least, our comments reflect our current views and you should understand that we are not obligated to update them. And with that, I'll hand it over to Brian.

Thank you, Tyler. Good morning, everyone. Thank you for joining our call. Before I get into our 2024 results, I express our condolences to the victims, families, and first responders in New Orleans who were affected by the senseless act of violence that occurred in the early hours of 2025. First Horizon has deep roots in New Orleans, and we are proud of the courage, compassion, and resiliency the community has shown. At First Horizon, we pride ourselves on being here for good, whether it's in response to the hurricanes we've seen across our footprint including last year in Florida, Western North Carolina, and Eastern Tennessee, where tragedies like this one in New Orleans. Our team believes in our ability to be part of a recovery and positive change in the communities we serve. I am proud of the strong results we delivered for shareholders in 2024 and am excited to build upon that momentum as we enter into 2025. On slide five, We have shared some of the financial highlights from this year. We ended 2024 with strong momentum, delivering EPS growth in the fourth quarter through margin expansion, countercyclical fee income growth, and strong credit performance. Hope we'll walk through the quarterly results in more details in a moment. As we look back on the full year, you can see the benefits of our diversified business model. We grew adjusted EPS by 12 cents or 8% from the prior year. We achieved an adjusted return on tangible common equity of 12.6% through continued strong performance from our banking franchise and positive trends in the counter cyclical businesses. We maintained a strong net interest margin of 3.35% despite declining interest rates in the back half of the year. Additionally, Our countercyclical businesses contributed an incremental $55 million to pre-provision net revenue. We continue to attract new clients and retain existing relationships, growing average loans by over 3% and deposits by more than 2%. Our net charge-off ratio for the full year of 18 basis points declined 10 basis points from the prior year, highlighting the value of our discipline underwriting process. Over the year, we returned over 930 million of capital shareholders through dividends and share repurchases while maintaining robust levels of capital. I am thankful for the dedication of our associates that our associates showed this year as they continue to deliver value for our shareholders, our clients, and our communities. With that, I'll hand the call over to Hope to run through the financial results in more detail. Hope?