First Horizon National Q4 Profit Rises On Higher Net Interest Income
WASHINGTON (dpa-AFX) - First Horizon National (FHN) reported Friday that its fourth-quarter net income available to common shareholders was $53.3 million, or $0.23 per share, compared to $47.03 million, or $0.20 per share a year ago.
On average, 17 analysts polled by Thomson Reuters expected earnings of $0.25 per share for the quarter. Analysts' estimates typically exclude special items.
Net interest income increased 17% to $195.6 million in fourth quarter from $166.65 million last year, favorably impacted by loan growth within the regional bank and the positive impact of higher market rates.
Noninterest income (including securities gains) was $124.1 million in fourth quarter, 6% lower than $132.23 million in the prior year, primarily driven by lower fixed income sales revenue.
Interest income climbed 17 percent to $219.90 million from $187.62 million last year.
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