First Horizon National in Memphis, Tenn., reported a significant increase in quarterly earnings as increased lending and cost control offset a decline in fee income.

The $29.4 billion-asset company said Friday that its second-quarter profit rose 61% from a year earlier to $90.8 million. First Horizon also announced during the quarter that it will buy the $10.1 billion-asset Capital Bank Financial in a deal that will substantially increase its operations in the Carolinas.

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