MEMPHIS, Tenn., Dec. 22, 2010 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) has repurchased its $867 million of TARP CPP Preferred Stock. The repayment follows the recent completion of successful stock and debt offerings in which the company raised more than $750 million.
"The team at First Horizon has taken significant actions over the past three years to positively transform our company, and today our capital position is among the strongest of our peers," said Bryan Jordan, First Horizon CEO. "We've refocused our company and improved the way we serve our banking and capital markets customers. We've aggressively managed troubled credits. We appreciate the investment the American taxpayers made in First Horizon over the past two years. We are proud to repay their $867 million investment in us in addition to the more than $91 million we've paid in cash dividends."
About First Horizon
The 5,400 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 180 bank locations in and around Tennessee and 18 FTN Financial Group offices in the U.S. and abroad. First Tennessee has the leading combined market deposit share in the counties where it does business and one of the highest customer retention rates of any bank in the country. FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FHN has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information is available at .
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CONTACT: First Horizon National Corporation Kim Cherry, Media Relations (901) 523-4380 Aarti Bowman, Investor Relations (901) 523-4017