First Horizon Corporation (NYSE:FHN) Q1 2024 Earnings Call Transcript

Susan Springfield: Yes, Chris, I would say that’s actually the predominant reason that we’re taking loans to special mention and the initial criticized status would be that debt service coverage, while still able to service the loan, it might be it’s left in either a covenant or where the borrower expected to be at a certain point in time. We do expect, and I mentioned earlier that the downgrades mostly have been into that special mention category. That’s a very dynamic category and we do see borrowers come back out of it as they adjust either their operating expenses or if interest rates do start coming down. I expect you’ll see a good bit of a lot of upgrades. I think that’s all.

Christopher Marinac: Great, thank you again and best wishes for your success, Susan.

Susan Springfield: Thanks, Chris, appreciate it.

Bryan Jordan: Thanks, Chris.

Operator: We currently have no further questions. I will hand back over to Bryan Jordan to conclude.

Bryan Jordan: Thank you, Carla. Thank you everyone for joining the call this morning. We appreciate your time and appreciate your interest in our company. Please reach out if you have any further questions or if you need any additional information. We’ll be happy to try to help. Hope everyone has a great day.

Operator: This concludes today’s call. Thank you for joining. You may now disconnect your lines.