First Horizon National Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months of 2016; Reports Net Charge-Offs of $511,000 for the Fourth Quarter of 2016
January 13, 2017 at 07:00 am
Share
First Horizon National Corporation announced unaudited consolidated earnings results for the fourth quarter and twelve months of 2016. For the quarter, the company reported total revenue of $319,628,000 against $298,884,000 a year ago. Income before taxes was $81,731,000 against $54,144,000 a year ago. Net income available to common shareholders was $53,294,000 against $47,031,000 a year ago. Diluted EPS was $0.23 against $0.20 a year ago. Net interest income was $195,551,000 against $166,652,000 a year ago. Return on average common equity (annualized) was 9.00% against 10.80% a year ago. Return on average assets (annualized) was 0.80% against 0.97% a year ago. Return on tangible common equity was 9.89% against 11.90% a year ago.
For the twelve months, the company reported total revenue of $1,281,525,000 against $1,171,045,000 a year ago. Income before taxes was $345,321,000 against $108,254,000 a year ago. Net income available to common shareholders was $220,846,000 against $79,679,000 a year ago. Diluted EPS was $0.94 against $0.34 a year ago. Net interest income was $729,084,000 against $653,720,000 a year ago. Return on average common equity (annualized) was 9.60% against 3.64% a year ago. Return on average assets (annualized) was 0.87% against 0.38% a year ago. Return on tangible common equity was 10.59% against 3.97% a year ago.
The company reported net charge-offs of $511,000 for the fourth quarter of 2016.
First Horizon Corporation is a bank holding company, which provides diversified financial services primarily through its principal subsidiary, First Horizon Bank (the Bank). The Company operates through three segments: Regional Banking, Specialty Banking, and Corporate. The principal lines of business in the regional banking segment include commercial banking, business banking, consumer banking, private client, and wealth management. This segment also provides investment, wealth management, financial planning, trust and asset management services for consumer clients. The principal lines of business in the specialty banking segment include fixed income/capital markets, professional commercial real estate, mortgage warehouse lending, asset-based (secured) lending, franchise finance, equipment finance, energy finance, healthcare finance, and tax credit finance. This segment also delivers treasury management solutions, loan syndications, and international banking.
First Horizon National Corporation Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Twelve Months of 2016; Reports Net Charge-Offs of $511,000 for the Fourth Quarter of 2016