Bad Home Loans Cause First Tennessee Loss

From the Tennessean:
"On Thursday, First Tennessee's parent company said it lost $14.2 million in the most recent quarter, in part because so many mortgages and home construction loans are going bad. Wall Street analysts had expected Memphis-based First Horizon National Corp. to make money in the period.... 'Banks are being more cautious about the loans they make to households or businesses with below-stellar credit quality,' said David Penn, an economist at Middle Tennessee State University."