First Horizon National (NYSE:FHN) reported its Q4 results, with revenue coming in at $882 million, better than the Street estimate of $872.73 million. EPS was $0.51, worse than the Street estimate of $0.52.

Overall core results continue to be solid with strength in spread revenues as the key driver. Both loan growth and margin expansion were decent in this environment and drove net interest income expansion. Deposit balances declined sequentially while deposit costs rose as expected. Despite the deposit cost pressures, the performance of the asset-sensitive balance sheet was strong again this quarter.

Meanwhile, fee revenues declined and were driven by lower fixed-income and mortgage revenues, while brokerage and trust, and service charges were slightly lower.

The company reiterated that they expect TD's acquisition deal to close in the first half of TD’s fiscal 2023. The merger was previously approved by FHN shareholders, with regulatory approval still pending.