WASHINGTON (dpa-AFX) - First Horizon National Corp. (FHN) reported second-quarter net income available to shareholders of $50.56 million or $0.22 per share, compared to $77.52 million or $0.33 per share, prior year.
On average, 20 analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items. ? Revenue increased to $296.94 million from $283.67 million last year. Analysts expected revenue of $289.77 million for the quarter. Noninterest expense increased year-over-year to $218.39 million from $163.16 million.
First Horizon National reported that First Tennessee, the regional bank, had a strong quarter, with pre-provision net revenue up 7 percent year over year. Year over year, average core deposits were up 13 percent and loans were up 16 percent, led by commercial loans, loans to mortgage companies and asset-based lending.
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