First Tennessee Wraps Up 2017 With "Strong Momentum"

Friday, January 19, 2018

Fundamentals remained strong in 2017 at First Horizon National Corp., driven by growth trends in loans and deposits at First Tennessee Bank, as well as the closing of the Capital Bank transaction., officials said.

Reported earnings per share were $0.65 in 2017, compared to $0.94 in 2016. On an adjusted basis, earnings per share in 2017 were $1.111, excluding the impact from tax reform, other tax adjustments and acquisition expense, as well as other notable items. Reflected in the fourth quarter results are the previously announced $1,000 bonuses to approximately 70 percent of First Horizon employees, and a contribution of $16.5 million to the company’s Foundation.

During the fourth quarter, First Horizon completed the merger with Capital Bank that had been announced in May, 2017, resulting in a $41 billion asset organization with more than 350 branches serving the Southeast. While the Capital Bank merger closed late in the quarter, progress has been made on integration planning. Further, expectations of revenue and cost synergies have increased over the past six months.

Chattanooga Market President Jeff Jackson said, "First Tennessee’s strong showing in the fourth quarter is very humbling for us. With profits up 20 percent and deposits and loans up as well, it speaks volumes to the work being done by our team and the trust we enjoy with our customers. We were also pleased to provide one-time bonuses to many of our employees. We’re very optimistic about the new year.” 

“The fourth quarter caps an outstanding and transformative 2017." said Bryant Jordan, First Horizon's chairman and CEO. "Our adjusted core results were strong with continued robust customer activity. We closed our merger with Capital Bank, the largest in our company’s history, significantly expanding our balance sheet, customers, markets and opportunities, all as we identified greater cost savings and revenue opportunities than originally announced. We begin 2018 with momentum and confidence in our abilities to create value for our communities, customers and shareholders.”  



New Hamilton County Businesses

Here are the new business licenses from the County Clerk's office: ACES PRESS LLC SUSAN  STOKER 3 PUBLISHING 711 SIGNAL MOUNTAIN ROAD STE 175 CHATTANOOGA TN 37405 AT HOME COMPLETE CARE TINA  JAMES 3 SITTING SERVICE FOR ELDERLY 5808 RINGGOLD ROAD EAST RIDGE TN 37412 BACK TO BLACK RICHARD  EDEN 4 CUSTOM SEALCOATING & ... (click for more)

Chattanooga Chamber Calendar Of Events May 28-June 1

May 29, Leveraging Social Media 5:30 to 7 p.m. Chattanooga WorkSpace: 302 W. 6th St. During this class, learn the right platforms for your business to be on. $15 Register at thechattery.org .     May 31, Small Business Orientation: Morning Seminar 11:30 a.m. to 1 p.m. INCubator: 100 Cherokee Blvd. (Please park ... (click for more)

Aaron Biddle, 21, Shot And Killed On Basswood Drive Saturday Afternoon

Aaron Biddle, 21, was shot and killed on Saturday afternoon. The Chattanooga Police Department responded around 3:45 p.m. to the 7800 block of Basswood Drive on reports of a person who had been shot.  Upon arrival, police were able to locate the victim who had succumbed to his injuries. A suspect was detained by police immediately upon their arrival.  Investigators ... (click for more)

Corker, Aide Help Gain Release Of Holts From Venezuelan Prison

 Senator Bob Corker (R-Tenn.), chairman of the Senate Foreign Relations Committee, welcomed the release of American citizen Josh Holt and his wife, Thamy, who have been detained in a Venezuelan prison for the last two years.   “I am pleased to join Senator Hatch and President Trump in announcing the release of Josh and Thamy Holt,” said Senator Corker. “Senator ... (click for more)

Conserving White Flight To Private, Public Secluded Schools Is Shameful

If you really care about the kids of Hamilton County’s most distressed schools, then you’ll take help where you can get it. The question on your mind isn’t which political label someone wears. Anyone who shifts attention away from the critical issues facing public education and toward political labels is not really committed to public education. Their support for equitable, quality ... (click for more)

Roy Exum: School Board Suckered

Just eight short days ago, Hamilton County Commissioner Tim Boyd called a study on Hamilton’s County’s pseudo ‘socioeconomic desegregation’ farce as “the most far left, liberal document I have ever read. It does not represent the values of Hamilton County and I am insulted and disrespected by it." Then the School Board got so embarrassingly suckered  on Thursday  night ... (click for more)