UPDATE: First Horizon Q3 Profit Down 29%
First Horizon National (NYSE: FHN) 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.
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