...Capital Remains Well Situated: At YE15, First Horizon National Corporation (FHN) reported Basel III common equity tier I capital (CET1) of 10.45% and tangible common equity (TCE) of 7.82%, both relatively in line with peer medians. Fitch Ratings anticipates that capital will continue to come down over time but expects management to maintain sufficient levels relative to FHN's risk profile. Strong Deposit Market Share: FHN's deposit gathering capabilities within its core footprint remain strong. FHN had the highest deposit market share in Tennessee at June 30, 2015 with 13.7% of total deposits. Wind Down of Nonstrategic Portfolio: Loans within the nonstrategic portfolio totaled $2.0bn at 4Q15, accounting for a still-sizable 11% of total loans, although down considerably from its peak. Fitch recognizes management's ability to work through the nonstrategic portfolio without outsized credit losses over recent periods. Fitch expects that nonstrategic balances will continue to decline over time....
