| Type | Public company (NYSE: FHN) S&P 500 Component |
|---|---|
| Industry | Financial Services |
| Founded | 1864 |
| Headquarters | Memphis, Tennessee, USA |
| Key people | Bryan Jordan, Chief Executive Officer. Michael D. Rose, Chairman. William C. Losch, Chief Financial Officer . James F. Keen, Principal Accounting Officer . Charles G. Burkett, Exec. VP, President of Banking |
| Products | Credit Cards, Loans, Deposit Products, Investments, Insurance, Financial Planning, Trust, Asset Management, and Cash Management Services. |
| Employees | Approximately 6,000 |
| Website | http://www.fhnc.com |
First Horizon National Corporation is a large banking company based in Memphis, Tennessee, USA. It is the parent company of First Tennessee Bank and FTN Financial.
First Tennessee is now the largest Tennessee-based bank (by far with the 2004 merger of Union Planters Bank into Birmingham, Alabama-based Regions Financial Corporation), and the only Tennessee-based banking company with any genuine influence beyond the borders of the state.
Its logo, shared among all of FHNC's three subsidiaries, is a cutout portion of the Tennessee state flag.
Contents |
Chartered in 1864 as First National Bank, First Horizon National Corporation (FHN) has grown to be one of the largest bank holding companies in the United States in terms of asset size.
FHN's approximately 6,000 employees provides financial services through about 180 bank locations in and around Tennessee and 21 FTN Financial Group offices in the U.S. and abroad. AARP and Working Mother magazine have recognized FHN as one of the nation's best employers.
In a transaction that closed on August 31, 2008, First Horizon sold to MetLife Bank, N.A., a wholly owned subsidiary of MetLife, Inc. (NYSE:MET), its approximately 250 mortgage production offices outside Tennessee and its loan origination and servicing platforms. Included in the transaction were approximately $380 million of total assets, including servicing rights related to $19 billion of first lien mortgage loans (all FNMA-conforming), and $300 million of custodial deposits related to assets sold.
First Tennessee Bank, First Horizon's principal banking subsidiary, continues to originate mortgages for customers in the bank's Tennessee-based market footprint.
In first quarter 2008, FHN revised its business line segments to better align with its strategic direction, representing a focus on its regional banking franchise and capital markets business. To implement this change, the prior Retail/Commercial Banking segment was split into its major components with the national portions of consumer lending and construction lending assigned to a new National Specialty Lending segment that more appropriately reflects the ongoing wind down of these businesses. Additionally, correspondent banking was shifted from Retail/Commercial Banking to the Capital Markets segment to better represent the complementary nature of these businesses. To reflect it geographic focus, the remaining portions of the Retail/Commercial Banking segment now represent the new Regional Banking segment.
For the purpose of securities sales, First Tennessee Brokerage (FTBR) is licensed in all U.S. states, except Alaska.
For the purpose of investment advisors, First Tennessee Brokerage (FTBR) is licensed to do business in the following states: Arkansas, Arizona, California, Delaware, Georgia, Maryland, Michigan, Missouri, North Carolina, Tennessee, Texas, Virginia, and Washington.
For the purpose of insurance sales and services, First Horizon Insurance Services, Inc. (FHIS) is licensed in all U.S. states except the following: Alaska and New Mexico.
|
||||||||