text: « CRE workout guidance on the way |
  | Big Four still losing market share »
  First TN parent beats expectations
  First Horizon National Corp., the parent company of First Tennessee bank, reported a loss available to common shareholders of $52.9 million, or $0.24 a diluted share, in the third quarter.
  The showing was an improvement over last year's third-quarter loss of $125 million, and was a better showing than analysts had expected. Analysts surveyed by Thomson Reuters had projected a loss of $0.30 a share in the third quarter.
  In a news release, First Horizon said the amount it set aside for loan losses was $185 million, down from $260 million in the second quarter, and said its non-performing assets were down slightly.
  "We're continuing our focus on our strategic repositioning efforts and making good progress in spite of a weak economy and a difficult operating environment," Bryan Jordan, the company's CEO, said in the release.
  Posted by Josh Flory on October 16, 2009 9:24 AM | Permalink
  Headline should read, First Horizon losses continue, now 7th straight quarter in the red.
  How much did Jimmy Haslams position on the board influence your headline or your approach to these articles? Why no comments or quotes from Jimmy Halsam or Bill Sansom, they sit on the First Horizon board of directors and live right here in Knoxville.
  Oh by the way, don't look for First Horizon to make any money in 2010 either, nor will SunTrust, Regions Bank, Fifth Turd, or Key Bank.