First Horizon Cutting 100 Jobs in Tennessee

First Horizon National Corp. is shuttering its FTN Equity Capital Market Corp. and about 100 employees will be left out of work. First Horizon is Tennessee’s biggest bank with 5,700 employees. It has posted three straight annual deficits and received $867 million from the U.S. Treasury’s Troubled Asset Relief Program.

First Horizon was expected to sell FTN Equity, but the deal collapsed for unspecified reasons. A statement said “all of the employees of this business (just under a hundred) are impacted by the exit.”