First Horizon National (FHN) Reports Q1 EPS of $0.05

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Go back to First Horizon National (FHN) Reports Q1 EPS of $0.05

First Horizon Reports First Quarter Results and Highlights

April 21, 2020 6:30 AM EDT

MEMPHIS, Tenn., April 21, 2020 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE: FHN) today announced its first quarter 2020 financial results. The companys loans to mortgage companies and fixed income businesses were key contributors for the first quarter. Reported earnings per share (EPS) were $0.04, reflecting a significant increase in provision expense. First Horizon recorded provision for loan losses of $145 million, an increase of $135 million from 4Q19, primarily driven by a sudden, steep decline in the economic forecast in the later part of the quarter following widespread societal responses to the COVID-19 pandemic. Effective January 1, 2020, First... More