Finance
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First Horizon Warns, Cites Residential Contruction Exposure
Dec 21, 2007Citing “increasing softness and volatility in residential construction lending and mortgage banking,” First Horizon National Corp. said Friday morning that it expects to bump its fourth-quarter provision for loan losses up to $150 million. The bank said its expected reserve for loan losses would “significantly exceed net charge-offs of roughly $50 million” for the quarter. From the SEC filing:
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