First Tennessee Bank profits up in second quarter

First Tennessee Bank profits up in second quarter

July 18th, 2014 by Dave Flessner in Local - Breaking News

The First Tennessee Bank building is located between Market and Broad Streets in downtown Chattanooga.

The First Tennessee Bank building is located between...

Photo by John Rawlston /Times Free Press.

The parent company of First Tennessee Bank beat analysts expectations during the second quarter with earnings of $76.8 million, or 32 cents per share.

First Horizon Corp., earned nearly twice the 17 cents per share expected by analysts who follow Tennessee's biggest banking company and were up 68 percent from the 19-cents per share earned by First Horizon in the second quarter of 2013.

Total loans were up 4 percent from first to second quarter in First Horizon's regional banking business, First Tennessee, which has the largest market share in Tennessee. The bank saw double-digit year-over-year loan growth in asset-based lending, commercial real estate and its Mid-Atlantic region that includes the Carolinas, Virginia and North Florida.