First Horizon Earnings Still Reeling from Mortgage Portfolio

" First Horizon National Corp. on Friday reported a $55.7 million net loss — 27 cents per share — for the fourth quarter 2008, less than half the loss reported the previous quarter. After reporting heavy losses in mid- and late-2008 and receiving a $866,540,000 injection from the TARP as a transaction under the Capital Purchase Program on Nov. 14, 2008, the company’s balance sheet appears to be stabilizing somewhat. Despite continued economic weakness, average deposits remained flat for the quarter, signaling First Horizon may have weathered some of the worst economic decline of 2008."