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First Horizon National Q1 Profit Drops

First Horizon National Corp. (FHN) reported that its first-quarter net income available to common shareholders dropped to $12.07 million from last year's $99.04 million, reflecting a significant increase in provision expense.

But, total revenues for the quarter grew to $477.56 million from $435.55 million in the previous year.

Looking ahead, the company said its merger with IBERIABANK Corporation remains on track and is expected to close in the second quarter.

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