• First Horizon average return on tangible equity for 2023 was 13.59, a 7.43% decline from 2022.
• First Horizon average return on tangible equity for 2022 was 12.65, a 24.75% increase from 2021.
• First Horizon average return on tangible equity for 2021 was 16.81, a 30.41% decline from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.