First Horizon National Corporation Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2015
January 19, 2016 at 11:30 am
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First Horizon National Corporation reported consolidated earnings results for the fourth quarter and full year ended December 31, 2015. For the quarter, the company reported total revenue of $298,884,000 against $278,648,000 a year ago. Income before income taxes was $54,144,000 against $65,339,000 a year ago. Net income was $51,429,000 against $51,640,000 a year ago. Net income available to common shareholders was $47,031,000 against $47,110,000 a year ago. Diluted EPS were $0.20 per share against $0.20 per share a year ago. Return on average assets was 0.78% against 0.83% a year ago. Return on average common equity was 8.23% against 8.27% a year ago.
For the year, the company reported total revenue of $1,171,045,000 against $1,177,762,000 a year ago. Income before income taxes was $108,254,000 against $318,231,000 a year ago. Net income was $97,313,000 against $234,046,000 a year ago. Net income available to common shareholders was $79,679,000 against $216,319,000 a year ago. Diluted EPS were $0.34 per share against $0.91 per share a year ago. Adjusted income before income taxes (Non-GAAP) was 290,254,000. Adjusted net income (Non-GAAP) was $208,744,000. Adjusted net income available to common shareholders (Non-GAAP) was $191,110,000 or $0.81 per share.
First Horizon Corporation is a bank holding company, which provides diversified financial services primarily through its principal subsidiary, First Horizon Bank (the Bank). The Company operates through three segments: Regional Banking, Specialty Banking, and Corporate. The principal lines of business in the regional banking segment include commercial banking, business banking, consumer banking, private client, and wealth management. This segment also provides investment, wealth management, financial planning, trust and asset management services for consumer clients. The principal lines of business in the specialty banking segment include fixed income/capital markets, professional commercial real estate, mortgage warehouse lending, asset-based (secured) lending, franchise finance, equipment finance, energy finance, healthcare finance, and tax credit finance. This segment also delivers treasury management solutions, loan syndications, and international banking.