First Horizon Corporation

First Horizon Corporation, operating as First Horizon Bank, is a financial institution headquartered in the United States. The organization provides banking services to its customers, including online banking accounts which allow for digital financial transactions and account management. As a bank, it operates within the regulatory framework governing financial institutions in the U.S., offering services that likely include deposit accounts, lending, and other standard banking products, though specific product details beyond online banking are not explicitly stated in available information. The institution serves its customer base through its banking operations, maintaining a presence that is defined by its corporate structure as a corporation and its banking charter.

In April 2021, First Horizon Corporation experienced a cybersecurity incident where attackers compromised a limited number of online banking accounts. The breach was facilitated through stolen customer credentials and the exploitation of a vulnerability in a third-party software system used by the bank. This unauthorized access led to fraudulent withdrawals totaling less than one million U.S. dollars and the exposure of personal information stored in the affected accounts. In response, the institution took several remedial actions: it reimbursed all impacted customers for their losses, notified relevant regulators and law enforcement agencies, addressed the software vulnerability, reset passwords for compromised accounts, and established new accounts for those affected. Following an assessment, the company determined that the incident would not have a material effect on its overall business operations or financial condition. This event highlights the institution's exposure to third-party risk and its established protocols for incident response and customer protection within the financial sector.