Execution, discipline drive 1Q17 progress at First Horizon

Progress toward long-term “bonefish” financial goals continued in the first quarter at First Horizon National Corp. (NYSE:FHN). Net interest income, deposits and loans were up significantly year over year, with strong performance in growth markets and commercial loans, particularly specialty banking areas. Credit quality reflected continued excellent underwriting discipline. With revenue stable and expenses down, the efficiency ratio improved from the same period last year. The company increased its quarterly common dividend by 29 percent during the quarter and closed its acquisition of Coastal Securities on April 3, just after the quarter ended. “I am pleased with the continued progress we made in the first quarter toward our long-term profitability goals,” said Bryan Jordan, First Horizon’s chairman and CEO. “Loan pipelines and commitments remain strong as our bankers focus on quality opportunities, credit quality remains excellent, our relationships with current and new customers continue to grow, and the closing of the Coastal acquisition adds talented people, new products and new customers to enhance our fixed income business. I am pleased to report continued execution of our key strategic priorities.”

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