First Tennessee tops expectations

First Tennessee Bank
First Tennessee Bank

First Horizon National Corp., parent company of First Tennessee, on Friday reported fourth-quarter profit of $50.9 million with the Memphis-based bank earning 20 cents per share.

The results beat Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 17 cents per share.

Chattanooga's biggest bank posted revenue of $278.6 million in the period, which did not meet Street forecasts. Analysts expected $280.9 million, according to Zacks.

For the year, the company reported profit of $219.5 million, or 90 cents per share. Revenue was reported as $1.18 billion.

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