MEMPHIS - First Horizon (NYSE:FHN) National Corporation has reported its fourth-quarter earnings, revealing figures that surpassed analysts' expectations. The regional bank announced earnings per share (EPS) of $0.32, showing resilience with a quarter-over-quarter improvement, although it marks a decline from the previous year.
The bank's financial health was further highlighted by its net interest income, which reached over $617 million. This key income metric is indicative of the company's core business profitability. First Horizon also saw a rise in noninterest income, which increased to $183 million, going beyond what analysts had anticipated.
Stability was a theme in First Horizon's report, with average loans holding steady at $61.2 billion. This figure represents a 6% increase on a yearly basis, demonstrating consistent growth in the bank's lending activities. Additionally, the bank experienced a 3% year-over-year growth in deposits, which climbed to $66.9 billion.
In a positive sign for the bank's risk management, provisions for credit losses were reduced to $50 million, down from the previous quarter. This decrease reflects an improved outlook on potential credit losses and is a positive indicator of the bank's asset quality.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.