VOL. 127 | NO. 62 | Thursday, March 29, 2012

Mike Murphy Builders LLC has filed a construction loan for three lots in Germantowns Enclave planned development, phase 3, through Financial Federal Savings Bank for $1.1 million. The sizes of the financed lots are 6,759 square feet fronting Enclave Hollow Lane East, 7,032 square feet fronting Terrene Lane and 6,760 square feet fronting Enclave Green Lane West.

Enclave phase 3 is on the north side of Wolf River Boulevard northwest of the dead end of Forest Hill-Irene Road. The plat was originally filed with the Shelby County Register of Deeds in 2008. It shows 50 lots on about 16 acres.

Source: The Daily News Online & Chandler Reports

Daily News staff

A Sterne, Agee & Leach analyst on Wednesday upgraded shares of First Horizon National Corp., parent company of First Tennessee Bank, saying the regional banks loan portfolio is stabilizing and it may return more money to shareholders this year.

Todd Hagerman lifted his rating on First Horizons shares to Neutral from Underperform.

Shares of the Memphis-based bank closed at $10.48 on Tuesday, and have nearly doubled since hitting a 52-week low of $5.38 on Oct. 4.

Still, Hagerman sees limited potential for the shares to rise significantly. The benefit to the bank from improving credit trends will moderate this year and next year, he said. He kept intact his 2012 and 2013 earnings estimates.

The Associated Press

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