Barnett Banks Inc. said Wednesday that it earned $138.3 million in the fourth quarter, up 10% from a year earlier, because of a surge in acquisition-related fee income and an improved net interest margin.

Barnett's $1.35 in earnings per share beat Wall Street's consensus estimates by 2 cents, partly attributable to a 3-cent-a-share gain from the sale of Bank South Corp. stock.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.