UPDATE: First Horizon Q3 Profit Down 29%

First Horizon National

reported a 29% drop in its third-quarter earnings. First Horizon's quarterly profit fell to $25.8 million, or $0.10 per share, from $36.1 million, or $0.14 per share, in the year-ago period. Its revenue dropped 15% to $337 million. However, analysts were expecting a profit of $0.19 per share on revenue of $340 million. First Horizon's non-interest expense fell 18% to $263.2 million. First Horizon shares dropped 0.05% to $9.67 in pre-market trading.