First Horizon National Corp. (NYSE:FHN), parent company of First Tennessee, recently reported that it is increasing its quarterly cash dividend on common stock by 29 percent. First Horizon’s loans and deposits were up double-digit percentages during 2016 and revenue grew 9 percent, while expenditures declined 12 percent.
These metrics illustrate that momentum remains strong as the 152-year-old financial services company focuses on long-term profitability.
And figures from the FDIC affirm First Tennessee’s dominance in Bradley County.
An earlier report from the FDIC did not include Bradley County’s Wildwood branch, but instead listed that branch’s location in Shelby County, where First Tennessee maintains its corporate headquarters.
A recently revised FDIC report showed that deposits in Cleveland grew by $4.5 million last year, for a total of $260 million in deposits and a number one market share.
“We’ve worked hard to gain the trust of the community and are honored by the strength of our bank here in Cleveland and Bradley County,” said Mike Griffin, First Tennessee’s Cleveland Community president. “We’re an active part of the community and our deep relationships with the people here and are the foundation of our bank’s success.”