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First Horizon National Corp. Product Image

First Horizon National Corp.

  • ID: 1784369
  • May 2011
  • Standard & Poors

Abstract
Strong market position in home state of Tennessee Major business realignment reducing risks over time Maintenance of solid capital ratios Continued challenge of managing sizable liquidating loan portfolios Substantial nonperforming assets (NPAs), but asset quality improving Uncertain future expenses related to repurchase claims from its sold mortgages Still-weak core earnings generation Standard & Poor's Ratings Services ratings on First Horizon National Corp. (FHN) reflect the company's leading market position in Tennessee and its progress in realigning its businesses to reduce risks and streamline its business model. The ratings also consider FHN's ongoing challenge of managing a large segment of liquidating (or "run-off") loans that comprise about one-third of its total loans. We continue to view FHN's asset quality risk and...

Companies mentioned in this report are: First Horizon National Corp.,First Tennessee Bank N.A. Memphis,FT Real Estate Securities Co. Inc.
Action: Review

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

Research Type: Full Analysis

First Horizon National Corp.,First Tennessee Bank N.A. Memphis,FT Real Estate Securities Co. Inc.

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