First Horizon Corporation · NYSE:FHN
First Horizon — Investor Day (June 2023)
14 slides from First Horizon's investor day presentation, Jun 6, 2023
Slide 1: Purpose driven, Client centered, Value focused
PS = 20 Purpose driven (am) oF : = Client centered HORIZON Z Value focused —
Slide 2: Disclaimers
Disclaimers Non-GAAP Information Certain measures included in this document are “non-GAAP,” meaning they are not presented in accordance with generally accepted accounting principles in the U.S. and also are not codified in U.S. banking regulations currently applicable to FHN. Non-GAAP measures are
Slide 3: People Led, Technology Enabled
People Led, Technology Enabled
Slide 4: People led, technology enabled
People led, technology enabled Serving as the foundation of our company Recent events have highlighted our strengths Strong culture Relationships People Technology Led Enabled Client centric Agility Technology is a key enabler of our people Resilience and relationships 4
Slide 5: Context: people & platforms
Context: people & platforms We have continued investing in our people and platforms Successful 91% 90+% Merger integration of brands Successful and systems in Primary client retention unassisted logins February 2022 Associate retention 1Q22 – 1Q231 Consistently high associate value scores Continued
Slide 6: Executive team
Executive team Retained a strong, experienced executive team and added new talent Stable and experienced leadership 12 yrs Leadership team has strong banking background With over 25 years in banking on average, the Average tenure of Executive Executive Management Committee has a proven Management Co
Slide 7: Associate retention
Associate retention Associate retention has been relatively strong across the company and we have continued to hire new associates Associate retention 1Q22 – 1Q231 Average tenure New hires (years) Total 87% 9 Bankers2 86% 9 1,000+ new hires since IT & Ops 91% 12 January 2022 Corporate Support 88% 9
Slide 8: Associate engagement
Associate engagement Our associates are highly engaged and supported Culture Support & development Associate favorability of 83%, calculated across 18 metrics 1,000+ ~250,000 Associates engaged in Hours spent on learning and We outperform other companies on key Associate Resource Groups development
Slide 9: Associate incentive strategies
Associate incentive strategies We have invested in our people and aligned incentives Increased minimum wage Aligned incentives across Deployed comprehensive 33% since 2021 benefiting all roles: retention program2 23% of associates $20 100% $150 million Company-wide minimum wage Of associates now eli
Slide 10: Continuous improvement
Continuous improvement Significant improvements since 2020 by implementing high-impact technology initiatives ‘nCino’ for Next-gen core, New contact commercial loan digital, and servicing center IVR and Cyber program origination platform for agent platform enhancement completed in 8 VirtualBank mont
Slide 11: Future priorities
Future priorities Our focus is on building a resilient, efficient foundation that supports our relationship-focused business model and priorities Foundational elements - “Run the bank” Business enablement - “Change the bank” A Ensure business resiliency C Enable superior experiences Continue to buil
Slide 12: What it will take
What it will take In order to deliver, we plan to invest an additional ~$75 - $100 million in technology and talent ~$75 – $100 million in additional investment over the next 3 years 100% Upgrades, enhancements and development of +20% new, differentiating capabilities: Enable “Change 40 – C superior
Slide 13: Key takeaways
Key takeaways Expect to continue to invest to ensure we maintain a more resilient and efficient technology foundation to support our relationship-focused business model and priorities 60 A Ensure business resiliency $100 Major projects B Elevate technology delivery Up to C Enable superior experience
Slide 14: People led, technology enabled
People led, technology enabled Serving as the foundation of our company Our strengths Strong culture Relationships People Technology Led Enabled Client centric Agility Technology is a key enabler of our people Resilience and relationships 14