420 added · 458 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
The failure, interruption, or poor performance of these third parties, whether due to cyber incidents, financial distress, operational breakdowns, or regulatory actions, could disrupt our operations, compromise data security, interfere with client services, compromise client privacy, or result in violations of laws or regulations 23 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
If a default insurer were to experience a significant credit downgrade or were to become insolvent, that could adversely affect the carrying value of loans insured by that company, which could result in an immediate increase in our loan loss provision or write-down of the carrying value of those loans on our 29 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
These exclusive forum provisions do not mean that holders of our common stock or depositary shares have waived our obligations to comply with the federal securities laws and the rules and regulations thereunder. 34 2025 FORM 10-K ANNUAL REPORT
However, other estimates can be highly significant at discrete times or during periods of varying length, for example the valuation (or impairment) of our deferred tax assets.
Common categories of cybersecurity incidents relevant to us, as a bank, include: account takeover, client spoofing, and payment fraud; ransomware and other malware; 24 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
We have engaged in securities issuances in the past that have resulted in the effects described in this paragraph and could do so again in the future. 33 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
This effect can and often does occur indiscriminately, initially without much regard to different risk postures of different banks. 25 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
To the extent our models and approaches are not consistent with underlying real-world conditions, our management decisions could be 26 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
A flat or inverted yield curve tends to decrease net interest margin, which adversely impacts our lending businesses, and it 31 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
In particular, the potential effects of a number of proposed regulations on us remain uncertain due to legal challenges 27 2025 FORM 10-K ANNUAL REPORT ITEM 1A.
Although interest rates began to decline in last half of 2024, the full effects of the 2022-23 rate hikes may not yet be fully reflected in loan default rates.
Such factors include, for example, changes in employment rates, interest rates, real estate prices, or expectations concerning rates or prices, changes in regulatory, trade (including tariffs), and tax policies and laws, and geopolitical instability or conflict.
No longer disclosed
For example: low interest rates reduce the interest income we earn, reduce our costs of funding, tend to stimulate economic activity and loan growth, and, through lower debt service, tend to ease financial pressure on clients, reducing default risk.
, beginning on page 31 . 5 2024 FORM 10-K ANNUAL REPORT FORWARD-LOOKING STATEMENTS Table of Contents Forward-Looking Statements This report, including materials incorporated into it, contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, with respect to FHN's beliefs, plans, goals, expectations, and estimates.
In evaluating forward-looking statements and assessing our prospects, readers of this report should carefully consider the factors mentioned 6 2024 FORM 10-K ANNUAL REPORT FORWARD-LOOKING STATEMENTS Table of Contents above along with the additional risks and factors discussed in Items 1, 1A, and 7 of this report, among others.
Table 1.7 Commercial, Consumer & Wealth (CCW) vs Wholesale Banking Snapshot (Dollars in millions) CCW Wholesale 2024 Average assets $ 59,402 $ 8,209 2024 Net interest income 2,543 194 2024 Noninterest income 461 230 2024 Pre-tax income 1,429 122 Commercial, Consumer & Wealth and Wholesale Lines of Business The principal lines of business in the commercial, consumer & wealth banking segment are: • commercial banking (larger business enterprises) • business banking (smaller business enterprises) • consumer banking • private client and wealth management 10 2024 FORM 10-K ANNUAL REPORT ITEM 1.
Services We Provide At December 31, 2024, we provided the following services through our subsidiaries and divisions: • general banking services for consumers, businesses, financial institutions, and governments • fixed income sales and trading; underwriting of bank-eligible securities and other fixed-income securities eligible for underwriting by financial subsidiaries; loan sales; advisory services; and derivative sales • mortgage banking services • brokerage services • correspondent banking • transaction processing: nationwide check clearing services and remittance processing • trust, fiduciary, and agency services • credit card products • equipment finance services • investment and financial advisory services • mutual fund sales as agent • retail insurance sales as agent Information about the net interest income and noninterest income we obtained from our largest categories of products and services appears under the caption Results of Operations—2024 Compared to 2023 beginning on page 59 of our 2024 MD&A (Item 7). 11 2024 FORM 10-K ANNUAL REPORT ITEM 1.
In February 2022, we completed the principal systems conversion work related to that merger. • As shown in Table 1.8, the COVID-19 pandemic caused us to recognize substantial provision for credit losses in 2020 and reduced our transaction volume and revenues.
This development, coupled with the regional bank crisis in the spring of 2023, prompted us to launch a successful deposit-gathering campaign in the second quarter of 2023. • We have made key talent hires in critical areas throughout our company, with the main focus on 12 2024 FORM 10-K ANNUAL REPORT ITEM 1.
In addition, operating results in 2020 were significantly affected by merger-related expenses and by two significant accounting impacts, described in Large Accounting Impacts from IBKC Merger below. 30-Branch Acquisition in 2020 In July 2020, we purchased 30 branches in North Carolina (20), Virginia (8), and Georgia (2) from SunTrust Bank (now Truist Bank).
Expenses related to IBKC Merger Closing the IBKC merger, integrating the business operations and systems, and making the changes necessary to achieve intended cost and other synergies resulted in substantial noninterest expense, especially in 2020 and 2021.
Significant Trends Past Five Years Noteworthy trends during these five years included: • Net interest margin declined from 2020 to 2021, though net interest income rose in 2021 as a result of increased average loan balances following the 2020 IBERIABANK merger.
Both net interest income and net interest margin declined modestly in 2024, driven largely by increased deposit costs for the first 7 months of the year. • Noninterest income declined in 2021 largely driven by a $533 million nontaxable purchase accounting gain from the IBERIABANK merger which was included in 2020 noninterest income, partially offset by a substantial increase in noninterest income following the merger, especially in relation to consumer mortgage originations and related services, and by strong fixed income revenues.
Key traditional competitors in many of our markets include Bank of America N.A., Fifth Third Bank National Association, First-Citizens Bank & Trust Company ( dba First Citizens Bank), Hancock Whitney Bank, Huntington National Bank, JPMorgan Chase Bank National Association, Regions Bank, Pinnacle Bank, PNC Bank National 16 2024 FORM 10-K ANNUAL REPORT ITEM 1.