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First Horizon National in Memphis, Tenn., is looking to raise $400 million by issuing debt.
November 17 -
The Best Banks to Work For study is a collaboration between American Banker and the Best Companies Group, which conducts extensive employee surveys and reviews employer reports on benefits and policies.
October 26 -
First Horizon's Employee Leadership Program, championed by CEO Bryan Jordan, has been described as "life changing" by some of its graduates. It also has helped solidify First Horizon's status as one of the banking industry's most employee-friendly companies. On our list of Best Banks to Work For this year, it ranks as No. 1 among those with more than $10 billion of assets.
October 26
First Horizon National in Memphis reported
The $25.7 billion-asset company's earnings slid 6% from a year earlier, to $46.4 million. Earnings of 20 cents a share beat the average estimate of analysts polled by Bloomberg by 3 cents.
Lower noninterest income drove the quarterly results, falling 10%, to $119.6 million.
Cost control and fewer problem loans helped offset a drop in fees. Noninterest expenses fell 19%, to $209.6 million. Net interest income held relatively steady, edging up 1%, to $159.1 million, while the company slashed its loan-loss provision by 60%, to $6 million.
Total loans grew 5%, to $16.2 billion. The net interest margin compressed by 12 basis points, to 2.86%.