First Tennessee Bank profits, revenues better than forecasts

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

By Staff Report July 17, 2015 2 min read

Tennessee’s biggest bank boosted earnings ahead of analysts expectations this spring.

First Horizon Corp., the parent company of First Tennessee Bank,today reported second quarter earnings of $52.1 million, or 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The bank holding company posted revenue of $296.9 million in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $289.8 million.

First Horizon shares have risen 18 percent since the beginning of the year. The stock has risen 32 percent in the last 12 months.