First Horizon 'On Right Track' -- Despite Losses, Firm's Outlook Will Improve, Ceo Says

Summary

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First Horizon National Corp.'s losses deepened in the third quarter, but neither company executives nor analysts who follow the Memphis-based firm seem concerned.

The banking and financial-services firm, parent of First Tennessee Bank , lost $118.3 million, or 59 cents per share, in the three months ended Sept. 30. That's about five times the second- quarter loss. Analyst estimates averaged a loss of 12 cents per share.

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First Horizon 'On Right Track' -- Despite Losses, Firm's Outlook Will Improve, Ceo Says

Problem loans - especially the national programs in homebuilding loans that First Horizon is trying to wind down - were behind most of the loss.

"We think we're on the right tr...

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