AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
First Tennessee's reorganization of its mortgage operation, which places a new emphasis on cross- selling to the bank's customers, has resulted in a "more balanced business mix" that reduces rate sensitivity, according to analysts at Sandler O'Neill.
Analyst Gerry Cronin, whose team met with senior management of First Tennessee recently, said in a recent report that the company's management has been making efforts to achieve a better balance between its rate-sensitive and nonrate-sensitive product lines.
Sandler O'Neill still expects First Tennessee's growth rate to slow once interest rates move up, but it now believes that double-digit earnings-per-share growth is achievable in a rising rate environment.
"In light of the continued strength in the traditional mortgage banking and capital markets businesses, ...