First Horizon National Corp. reported its fourth straight quarterly loss.
The $31.2 billion-asset Memphis company said Thursday it had lost $82.8 million, or 39 cents a share, in the first quarter. This compared to a $63.1 million loss in the fourth quarter and a $7.9 million gain a year earlier.
The loan-loss provision rose 7.1% from the fourth quarter but fell 11.8% from a year earlier, to $300 million.
Westamerica Bancorp. in San Rafael, Calif., said Friday its first-quarter profit nearly doubled from a year earlier, to $52.2 million, or $1.80 a share, largely because it took over a failed bank. The $5.4 billion-asset bank bought the $1.7 billion-asset County Bank in Merced, Calif., from the Federal Deposit Insurance Corp. on Feb. 6. Westamerica recognized a gain because the fair value of the assets it acquired exceeded the liabilities it assumed.
