First Horizon National Corp FHN
Q2 2013 Earnings Call Transcript

Transcript Call Date 07/19/2013

Operator: Good day, ladies and gentlemen and welcome to the First Horizon National Corp Second Quarter 2013 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. As a reminder, today's conference call is being recorded.

I would now like to introduce your host for today's conference call Ms. Aarti Bowman, Head of Investor Relations. Please go ahead.

Aarti Bowman - IR: Thanks, Alley. Please note that the press release and financial supplement which announced our earnings, as well as the slide presentation we'll use in this call this morning are posted on the Investor Relations section of our website at

In this call, we will mention forward-looking and non-GAAP information. Actual results may differ from the forward-looking information for a number of reasons outlined in our earnings announcement materials and our most recent annual and quarterly report. Our forward-looking statements reflect our views today and we are not obligated to update them.

The non-GAAP information is identified as such in our earnings announcement materials and in the slide presentation for this call and is reconciled to GAAP information in those materials. Also, please remember that this webcast on our website is the only authorized record of this call.

This morning's speakers include our CEO, Bryan Jordan; and our CFO, BJ Losch. Additionally, our Chief Credit Officer, Susan Springfield will be available with Bryan and BJ for questions.

I'll now turn it over to, Bryan.

D. Bryan Jordan - Chairman, President and CEO: Thanks, Aarti. Good morning and thank you for joining our call. I'm pleased with our continued progress in the second quarter. Our core businesses delivered solid results, we made headway in realizing our efficiency initiatives, the non-strategic segment drag diminished and we prudently deployed capital.

We're managing our Company for improved sustainable profitability and higher returns. Our focus is on structuring a profitable balance sheet that will drive long-term earnings growth.

We are not where we want to be yet, but with each quarter we are getting closer. The economic environment is, of course, a factor and how quickly we reach our goals. We have seen some recent improvement or positive data points and with rising employment higher consumer confidence, solid home price appreciation and reasonably steady yet modest GDP growth. While our markets in and around Tennessee are generally in line with national trends, certain areas such as Middle and Southeast Tennessee are doing better than average. We are increasingly well-positioned to make the most of our regions opportunities.

In late May, Fed comments spot concerns that monetary tightening would occur sooner than it been expected; (calls) in the 10-year treasury rate to jump and igniting fears about the effect of higher rates on the economy, businesses and the banking industry. BJ will discuss later First Horizon is well positioned for higher rates and should be the beneficiary over the long-term. Near term though, our borrowers seeing somewhat cautious about the strength of the recovery resulting in restrained credit demand.

Read our Earnings Call Transcript disclaimer.
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