First Horizon National Corp. (Tennessee)
First Horizon National Corp. operates as a financial holding company for First Tennessee Bank NA, which offers checking accounts, savings products, mortgage banking, lending and financing to individuals and businesses. The company operates its business through four segments: Regional Banking, Capital Markets, Corporate & Nonstrategic. The Regional Banking segment offers financial products and services, including traditional lending and deposit taking, to retail and commercial customers in Tennessee and surrounding markets and it also provides investments, financial planning, trust services and asset management, credit card, and cash management. This segment also operates as a correspondent banking which provides credit, depository, and other banking related services to other financial institutions. The Capital Markets segment consists of fixed income sales, trading, and strategies for institutional clients in the U.S. and abroad, as well as loan sales, portfolio advisory, and derivative sales. The Corporate segment consists of gains on the extinguishment of debt, unallocated corporate expenses, expense on subordinated debt issuances, bank-owned life insurance, unallocated interest income associated with excess equity, net impact of raising incremental capital, revenue and expense associated with deferred compensation plans, funds management, tax credit investment activities, and various charges related to restructuring, repositioning, and efficiency initiatives. The Nonstrategic segment consists of the wind-down national consumer lending activities, legacy mortgage banking elements including servicing fees, and the associated ancillary revenues and expenses related to these businesses. This segment also includes the wind-down trust preferred loan portfolio and exited businesses along with the associated restructuring, repositioning, and efficiency charges. First Horizon National was founded in 1968 and is headquartered in Memphis, TN.