First Horizon National Corp.
- ID: 1784369
- May 2011
- Standard & Poors
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.
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