First Horizon Corporation reported full year 2024 net income available to common shareholders (NIAC) of $738 million, or $1.36 per diluted share. Adjusted NIAC for the full year increased 5% to $843 million, or $1.55 per share, driven by credit performance, fee income generation, and a strong margin.
For the fourth quarter of 2024, NIAC was $158 million, or $0.29 per diluted share. Adjusted fourth quarter NIAC was $228 million, or $0.43 per share, representing a 2% increase from the prior quarter's adjusted results. The fourth quarter results included a $91 million loss from an opportunistic restructuring of a securities portfolio.
Net interest margin expanded by 2 basis points in Q4 2024 to 3.33%, driven by a 34 basis point reduction in interest-bearing deposit costs. Net charge-offs were $13 million, or 8 basis points, down from $24 million in the third quarter. The CET1 ratio remained stable at 11.2%, and the company returned $604 million of capital to shareholders in 2024 through share repurchases at an average price of $15.98.
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