Current Report Filing (8-k)
April 09 2015 - 4:20PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
_______________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of report (date of earliest event reported):
April 9, 2015
First Horizon National Corporation
(Exact Name of Registrant as Specified in Charter)
TN |
001-15185 |
62-0803242 |
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
of Incorporation) |
|
Identification No.) |
165 MADISON AVENUE |
|
MEMPHIS, TENNESSEE |
38103 |
(Address of Principal Executive Office) |
(Zip Code) |
Registrant's telephone number, including area
code - (901) 523-4444
(Former name or former address, if changed from
last report)
_____________________________________________
Check the appropriate box below if the Form 8-K filing is
intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| □ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| □ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| □ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
| □ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Item
2.02 Results of Operations and Financial Condition
Item 8.01 Other Events
Exhibit 99.1 is incorporated into each
of these items by this reference.
Item 9.01 Financial Statements and Exhibits
(c) Exhibits
Exhibit # Description
99.1 Press release issued
April 9, 2015
* * * * *
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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First Horizon National Corporation |
|
(Registrant) |
|
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Date: April 9, 2015 |
By: |
/s/ Clyde A. Billings, Jr. |
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Senior Vice President, Assistant |
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General Counsel, and Corporate Secretary |
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EXHIBIT INDEX
EX-99.1 Press release issued April 9, 2015
4
Exhibit 99.1
First Horizon to settle key mortgage matter
MEMPHIS, Tenn. – First Tennessee Bank has reached an agreement
in principle to settle a key outstanding matter related to the mortgage business the company sold in 2008.
First Tennessee, the regional bank for First Horizon National Corp.
(NYSE: FHN), has an agreement in principle with the United States Department of Housing and Urban Development and the United States
Department of Justice to settle certain potential claims related to First Tennessee’s underwriting and origination of FHA-insured
mortgage loans from Jan. 1, 2006, through Dec. 31, 2008, which have gone to claim not later than Apr. 2, 2015. Final legal
resolution remains subject to negotiation and execution of a formal written settlement agreement satisfactory to all parties.
Under the agreement in principle First Tennessee has committed to
make a cash payment of $212.5 million. First Horizon previously reserved $50 million for this matter and expects to report
a pre-tax expense of $162.5 million related to the agreement in principle in first quarter financial results. First Horizon plans
to announce financial results for the first quarter on Apr. 17, 2015.
This is another major legal resolution as First Tennessee unwinds
from the mortgage business the company sold in 2008. In the past several years First Tennessee has resolved a number of other
legal matters related to its former mortgage business, and has sold substantial amounts of nonstrategic mortgage loans and mortgage
servicing.
Other information
This press release contains forward-looking statements involving
significant risks and uncertainties. A number of important factors could cause actual results to differ materially from those in
the forward-looking information. Those factors include general economic and financial market conditions, including expectations
of and actual timing and amount of interest rate movements including the slope of the yield curve, competition, ability to execute
business plans, geopolitical developments, recent and future legislative and regulatory developments, inflation or deflation, market
(particularly real estate market) and monetary fluctuations, natural disasters, customer, investor and regulatory responses to
these conditions and items already mentioned in this press release, as well as critical accounting estimates and other factors
described in First Horizon's annual report on Form 10-K and other recent filings with the SEC. First Horizon disclaims any obligation
to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements included
herein or therein to reflect future events or developments.
About First Tennessee and First Horizon
First Tennessee is part of the First Horizon National Corp. (NYSE:FHN)
family of companies. First Horizon’s 4,300 employees provide financial services through more than 170 First Tennessee Bank
locations in and around Tennessee and 27 FTN Financial offices in the U.S. and abroad. The company was founded during the Civil
War in 1864 and has the 14th oldest national bank charter in the country. First Tennessee has one of the highest customer
retention rates of any bank in the country, and FTN Financial is a capital markets industry leader in fixed income sales, trading
and strategies for institutional clients in the U.S. and abroad. First Horizon has been recognized as one of the nation's best
employers by Working Mother and American Banker magazines. More information is available at www.FirstHorizon.com.
CONTACT: |
First Horizon Investor Relations, Aarti Bowman, (901) 523-4017 |
|
First Horizon Media Relations, Jack Bradley, (901) 523-4813 |
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