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First Horizon posts second-quarter loss, names CEO

NEW YORK
Mon Jul 14, 2008 9:44pm EDT

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NEW YORK (Reuters) - First Horizon National Corp (FHN.N), the largest bank in Tennessee, said on Monday that it reported a second-quarter loss, amid continuing difficulties in the credit markets.

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The company reported a net loss of $19.1 million, or 11 cents per share, compared with net income of $22.1 million, or a profit of 17 cents per share, in the year-ago period.

The company also said Bryan Jordan would take over as president and chief executive of the bank in September, succeeding current president and CEO Jerry Baker.

The company announced its second-quarter results earlier than planned due to market speculation. Its shares dropped 25 percent on Monday prior to the release of its results.

(Reporting by Emily Chasan; Editing by Gary Hill)
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