First Horizon National (FHN) in Memphis, Tenn., is a lesson in patience for executives and investors everywhere as it slowly puts its mortgage woes in the past while pursuing incremental revenue opportunities.

The company has taken its lumps in the past year as it resolved mortgage-related issues with Fannie Mae, Freddie Mac and the Federal Housing Finance Agency. Bryan Jordan, the $24 billion-asset company's chairman and chief executive, acknowledges that there are still lingering mortgage problems but prefers to highlight growth initiatives that include a recent branch deal in Tennessee and a commercial lending push into Houston.

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