...Outlook Positive: Fitch Ratings expects that First Horizon National Corporation's (FHN) management will continue to execute on its well-communicated, long-term strategies such that operating performance becomes more consistent and in-line with higher rated peers over the rating time horizon. FHN's ratings are relatively low as compared to its peer group and to Fitch's rated bank universe. Fitch believes that FHN has rating upside over time, as reflected in the Positive Outlook. Capital Bank Acquisition: In May 2017, FHN announced the acquisition of Capital Bank Financial Corp. (CBF), a $10 billion community bank based in North Carolina. Fitch believes the transaction expands its presence notably and will provide some degree of added geographic diversification. Fitch expects to resolve the Outlook toward the latter part of the outlook horizon to allow time for the results of the transaction to be assessed. Leading Deposit Market Share: FHN's regional banking subsidiary, First Tennessee Bank,...
