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First Horizon swings to profit in Q4'18 YOY

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First Horizon swings to profit in Q4'18 YOY

Memphis, Tenn.-based First Horizon National Corp. reported net income available to common shareholders of $96.3 million, or 30 cents per share, for the fourth quarter of 2018, versus a net loss of $52.8 million, or a loss of 20 cents per share, in the year-ago period.

For full year 2018, the company reported net income available to common shareholders of $538.8 million, or $1.65 per share, compared to $159.3 million, or 65 cents per share, in the previous year.

Adjusted EPS was 35 cents for the quarter and $1.41 for the full year.

The S&P Global Market Intelligence consensus normalized EPS estimates were 36 cents for the recent quarter and $1.41 for the 2018 full year.

Total deposits stood at $32.68 billion at the end of the fourth quarter of 2018, compared to $31.01 billion at the end of the linked quarter and $30.62 billion a year earlier.

Total loans, net of unearned income, were $27.54 billion, compared to $27.35 billion at the end of the previous quarter and $27.66 billion a year ago.