Boston, MA 04/21/2014 (wallstreetpr) – First Horizon National Corporation (NYSE:FHN) has completed impressive 150 years in the industry. It started working long back during the time of Civil War. The focus of the First Horizon has always stayed on the profitability, and it has managed to deliver the same outstanding performance in the first quarter of year 2014. The company reported a consolidated net income at $45 million. It comes to be $0.19 per share.
The strength comes from core business
First Horizon National Corporation (NYSE:FHN) gains its strength from its core business of regional banking that is looked by First Tennessee. Its other strong part is a fixed income generation coming through FTN. Both the arms are doing extraordinary well. The company is taking rational decisions when it comes to investment. It is making a point to invest in its core businesses. The lending activities have increased in the first quarter. Asset based lending was up by 12%. The regional bank average core deposits were up by 2%.
It aims to control the costs and at the same time wants to improve on productivity. First Horizon National Corporation (NYSE:FHN) has managed to minimize its expenses by huge 8% as compared to the first quarter of 2013. The company already sold its mortgage business in 2008. It wants to minimize the effects of the former mortgage business.
Expansion in horizon
First Horizon marks its team as its another strength who make all the efforts to deliver customer satisfaction. They strive hard to meet the varied financial service needs of the customers. The company is, therefore, able to generate more business by the right utilization of resources. First Horizon aims to enter the new markets in the coming times. Also, First Horizon National Corporation (NYSE:FHN) continues to focus on it specialty business. The company expects to deliver a strong performance even in the next 150 years.
