First Horizon CEOs Take Home $6.8M In 2008 Pay

Like most other banks, First Horizon ramped up its loss provisions during the year because of rising delinquencies and defaults among mortgages and consumer loans.

To help bolster its capital position, the company raised $690 million in common equity early on in the year. In November, First Horizon received $866 million as part of the government's $700 billion bank rescue package.

For the full year, First Horizon posted a loss of $192 million, or $1.06 per share, compared with a loss of $170.1 million, or $1.29 per share in 2007.