I've now looked into this topic for quite some time, but can't seem to find a proper solution or pre-defined style that fits my needs. Maybe you guys can help or point towards a solution, because I'm kinda stuck right now.
I'm currently using Biblatex for my bibliography and want to cite my sources in footnotes like the following, where the firstname is shortened to only the first respective letter:
Lastname, Firstname (year), p. from-to
So an example would be:
Clark, A. (2003), p. 30-45
If I understand correctly, I need to alternate the citestyle option passed when loading the biblatex package.
I've found various styles that include the lastname and year in the format I want. However, I failed to find a style that includs the shortened version of the first name.

ext-authoryearfor bibtex I get an error "biblatex Error: Style 'ext-authoryear' not found". I have included all the required packages from your minimal example. Could there be a problem since I'm writing on Overleaf? – Robin Schmidt Aug 19 '19 at 19:52biblatex-extis not available on Overleaf, because their TeX system is outdated. The core of the answer is the\DeclareNameFormat{labelname}bit, which should work on the older version ofbiblatexthat Overleaf has as well. I only usedbiblatex-extas an easy way to get the parentheses as desired. – moewe Aug 19 '19 at 19:54\DeclareNameFormat{labelname}bit works like a charm! I've approved your answer for now, because it helped a lot! Do you have any hints on how I can achieve the parentheses on the older Overleaf TeX system? – Robin Schmidt Aug 19 '19 at 20:09biblatex-extand an alternative forauthoryear-icomp. Maybe now is the time to install an up-to-date TeX system (MikTeX or TeX live 2019) locally on your machine? Or maybe you can send Overleaf support an email that it would be great if there was an option to use a current TeX live system instead of the now quite outdated TeX live version they have. If enough people bother them about it, maybe they'll consider it. – moewe Aug 19 '19 at 20:16