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First Horizon 4Q Loss Narrows As Loan-Loss Provision Falls

DOW JONES NEWSWIRES First Horizon National Corp.'s (FHN) fourth-quarter loss narrowed as the regional lender set aside less money for troubled loans and other credit measures also improved. Loan-loss provisions declined to $45 million from $135 million a year earlier and $50 million in the prior quarter. The net charge-off rate fell to 2.38% from 4% and 2.63%, respectively. Nonperforming assets, or loans that may go bad, decreased to $836.5 million from $1.05 billion and $919.2 million. The parent of First Tennessee Bank has had improved results in recent quarters, thanks to seven straight quarters of reducing the amount it sets aside to cover risky loans. The lender also has shifted its focus to retail banking and capital markets while largely exiting the mortgage business. A number of lenders also have had improved lending in the latest quarter, in a sign of another possible positive trend for the sector. First Horizon reported a loss of $48.7 million, or 20 cents a share, compared with a prior-year loss of $70.6 million, or 30 cents a share. The latest period included $63 million in costs related to its TARP repayment. Revenue decreased 10% to $393.2 million, after falling 18% a year earlier. Analysts polled by Thomson Reuters most recently forecast a loss of 3 cents on revenue of $424 million. Total deposits grew 2% as total loans fell 7%. Shares closed Thursday at $11.99 and were inactive premarket. The stock is down 6.2% in the past year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481;;

Stock News for First Horizon (FHN)
02/01/201612:39:35Form 13f Cover Page (13f-nt)
01/29/201616:03:51Statement of Changes in Beneficial Ownership (4)
01/26/201616:16:52Current Report Filing (8-k)
01/26/201616:10:00First Horizon Declares Quarterly Dividends – Increases Common D...
01/20/201616:17:44Current Report Filing (8-k)
01/19/201608:39:08Current Report Filing (8-k)
01/19/201606:37:31Current Report Filing (8-k)
01/19/201606:30:00First Horizon Wraps Up Successful 2015
01/14/201616:23:03Amended Statement of Changes in Beneficial Ownership (4/a)
01/14/201616:19:34Amended Statement of Changes in Beneficial Ownership (4/a)
01/12/201618:53:05First Horizon’s Aarti Bowman and Investor Relations Program T...
01/06/201616:10:00First Horizon National Corp. to Announce Financial Results and...
12/09/201508:01:00First Tennessee Bank Expands Operation HOPE Free Financial Empowerment...
12/04/201516:10:00First Horizon National Corp. to Participate in 2015 Goldman Sachs...
11/25/201516:21:59Current Report Filing (8-k)
11/10/201516:15:17Statement of Changes in Beneficial Ownership (4)
11/09/201518:16:59Keith Turbett Joins First Horizon to Enhance CRA Program
11/03/201517:00:00First Horizon National Corp. to Participate in 2015 BancAnalysts...
11/02/201517:02:26Current Report Filing (8-k)
10/30/201516:46:13Current Report Filing (8-k)

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