First Horizon (FHN) 8-K Results of Operations and Financial Condition

Exhibit 99.1

SUMMARY QUARTERLY RESULTS
Quarterly, Unaudited
																3Q08 Change vs.
(Thousands)		3Q08			2Q08			1Q08			4Q07			3Q07			2Q08			3Q07
Income Statement Highlights
Net interest income	$	223,147		$	238,895		$	228,092		$	225,987		$	237,804			(7	)%		(6	)%
Noninterest income		305,383			400,018			383,130			103,429			203,475			(24	)%		50	%
Securities (losses)/gains, net		(210	)		(972	)		65,946			(10,442	)		-			(78	)%		-
Total revenue		528,320			637,941			677,168			318,974			441,279			(17	)%		20	%
Noninterest expense		402,274			465,843			438,277			561,559			421,622			(14	)%		(5	)%
Provision		340,000			220,000			240,000			156,519			43,352			55	%		684	%
Pre-tax (loss)/income		(213,954	)		(47,902	)		(1,109	)		(399,104	)		(23,695	)	NM			NM
Benefit for income taxes		(88,859	)		(28,821	)		(8,146	)		(146,342	)		(9,330	)	NM			NM
(Loss)/income from continuing operations		(125,095	)		(19,081	)		7,037			(252,762	)		(14,365	)	NM			NM
Income from discontinued operations, net of tax		-			-			883			4,137			209		NM			NM
Net (loss)/income	$	(125,095	)	$	(19,081	)	$	7,920		$	(248,625	)	$	(14,156	)	NM			NM
Common Stock Data
Diluted EPS from continuing operations (a)	$	(.62	)	$	(.11	)	$	.05		$	(1.95	)	$	(.11	)	NM			NM
Diluted EPS (a)		(.62	)		(.11	)		.06			(1.91	)		(.11	)	NM			NM
Diluted shares (a)		201,184			176,936			130,532			129,949			129,917			14	%		55	%
Period-end shares outstanding		201,594			201,744			130,668			130,235			130,257			*			55	%
Dividends declared per share (b)	(c)			$	.20		$	.20		$	.45		$	.45		NM			NM
Balance Sheet Highlights (Period End)
Total loans, net of unearned income	$	21,601,898		$	22,225,232		$	21,932,020		$	22,103,516		$	21,973,004			(3	)%		(2	)%
Total loans held for sale-divestiture (d)		-			-			207,672			289,878			565,492			-			(100	)%
Total deposits		13,778,235			15,093,947			16,188,542			17,032,285			18,635,359			(9	)%		(26	)%
Total deposits-divestiture (d)		-			296,632			118,720			230,418			474,809			(100	)%		(100	)%
Total assets		32,804,376			35,549,961			37,267,945			37,015,461			37,478,252			(8	)%		(12	)%
Total assets-divestiture (d)		-			395,628			216,431			305,734			588,115			(100	)%		(100	)%
Total liabilities		29,931,458			32,557,238			34,860,441			34,584,588			34,761,148			(8	)%		(14	)%
Total liabilities-divestiture (d)		-			298,098			120,590			232,343			514,198			(100	)%		(100	)%
Total shareholders' equity		2,577,641			2,697,446			2,112,227			2,135,596			2,421,827			(4	)%		6	%
Key Ratios & Other
Return on average assets		(1.49	)%		(.21	)%		.09	%		(2.65	)%		(.15	)%
Return on average equity		(18.30	)%		(3.02	)%		1.47	%		(42.52	)%		(2.31	)%
Net interest margin		3.01	%		3.01	%		2.81	%		2.77	%		2.87	%
Efficiency ratio		76.1	%		73.0	%		64.7	%		176.1	%		95.5	%
Book Value Per Share	$	12.75		$	13.34		$	16.10		$	16.33		$	18.51
Tangible Book Value Per Share		11.57			12.14			14.23			14.42			16.02
FTE employees		6,091			9,245			9,555			9,941			11,052			(34	)%		(45	)%

NM - Not meaningful

* Amount is less than one percent.

(a) Shares restated for stock dividend.

(b) Third quarter 2008 dividend declared paid in shares.

(c) Stock dividend rate of 3.0615% per share.

(d) Second quarter 2008 associated with the sale of certain mortgage operations; prior periods associated with the sale of First Horizon Bank branches.