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First Horizon National (FHN) in Memphis said Friday that it lost close to $125 million in the second quarter after it bought back scores of soured mortgage loans from Fannie Mae and Freddie Mac.
July 20 -
First Horizon National in Memphis is asking some employees if they would like to leave voluntarily.
October 5 -
The Office of the Comptroller of the Currency closed the $437.3 million-asset Mountain National Bank in Sevierville, Tenn., on Friday.
June 7
First Horizon National Corp. (FHN) in Memphis, Tenn., missed second-quarter profit estimates as its lending and fee income slid.
The $25.1 billion-asset company reported Friday that it earned a quarterly profit of $45.2 million, compared to a loss of nearly $125 million in the same period of 2012, when it
Net interest income dipped by 7%, to $160 million, as net interest margin decreased by 20 basis points, to 2.96%. Noninterest income also declined 7%, to $143 million.
Cost cuts partially made up for First Horizon's lower revenue, as noninterest expenses declined to $227 million from about $255 million, excluding the charge for putbacks, in the second quarter of 2012. In October, the company
The provision for loan losses held steady, at $15 million, but net chargeoffs fell 54%, to $18.3 million. Total nonperforming assets rose 9%, to $506.7 million.
The company added $433 million of assets in the quarter through its Federal Deposit Insurance Corp.-assisted
