What does non-strategic — mortgage banking and title income mean?

Revenue from mortgage and title services within the segment being discontinued.

How do you interpret non-strategic — mortgage banking and title income?

A downward trend is consistent with the strategic goal of exiting these specific mortgage-related business lines.

How does non-strategic — mortgage banking and title income compare across companies?

Comparable to 'legacy mortgage servicing rights' or 'non-core mortgage fee income' at other financial institutions.

First Horizon FHN Non-Strategic — Mortgage banking and title income

Discontinued — last reported Q3 '20

Similar metrics at other companies

FNFTitle Subsegment — Fees And Commissions Mortgage Banking And Servicing

$81M+44.6%

HBANHome Lending — Noninterest Income

$31.98M—

RWTResidential Mortgage Banking — Noninterest Income

$9.26M-17.5%

RFSegment Discontinued Operations — Noninterest Income

$0—

NVROperating Segments — Interest And Fee Income Loans Held For Sale Mortgages

$1.96M+3.7%

RCResidential Mortgage Banking — Noninterest Income

$18.83M-50.1%

Other financials

Income statement

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Revenue$862.0M+6.2%

Net income$262.0M+20.2%

EPS (diluted)$0.53+29.3%

Balance sheet

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Cash & equivalents$1.9B—

Total debt$5.5B0.0%

Total equity$9.2B+4.8%

Total assets$84.1B+3.2%

Cash flow

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Operating cash flow$278.0M-20.3%

CapEx$8.0M-11.1%

Free cash flow$270.0M-20.6%

Valuation

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Market cap$11.78B+8.9%

P/E11.5×-2.0×

P/S3.4×0.0×

Profitability

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Net margin29.6%+4.4pp

FCF margin30.4%—

Returns & leverage

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Return on equity11.5%+2.4pp

Debt / equity0.6×0.0×

Where this comes from

Reported directly by First Horizon in its filing.

Tagged under the XBRL concept us-gaap:FeesAndCommissionsMortgageBankingAndServicing.

The official record: First Horizon’s 10-Q, filed November 5, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does non-strategic — mortgage banking and title income mean?: Revenue from mortgage and title services within the segment being discontinued.
How do you interpret non-strategic — mortgage banking and title income?: A downward trend is consistent with the strategic goal of exiting these specific mortgage-related business lines.
How does non-strategic — mortgage banking and title income compare across companies?: Comparable to 'legacy mortgage servicing rights' or 'non-core mortgage fee income' at other financial institutions.