<SEC-DOCUMENT>0000930413-20-000293.txt : 20200428
<SEC-HEADER>0000930413-20-000293.hdr.sgml : 20200428
<ACCEPTANCE-DATETIME>20200210172227
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0000930413-20-000293
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200210

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST HORIZON NATIONAL CORP
		CENTRAL INDEX KEY:			0000036966
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				620803242
		STATE OF INCORPORATION:			TN
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103
		BUSINESS PHONE:		9018186232

	MAIL ADDRESS:	
		STREET 1:		165 MADISON AVENUE
		CITY:			MEMPHIS
		STATE:			TN
		ZIP:			38103

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE NATIONAL CORP
		DATE OF NAME CHANGE:	19920703

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FIRST TENNESSEE BANKS INC
		DATE OF NAME CHANGE:	19600201
</SEC-HEADER>
<DOCUMENT>
<TYPE>CORRESP
<SEQUENCE>1
<FILENAME>filename1.htm
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">First Horizon National Corporation</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">February 10,
2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><U>VIA EDGAR AND FEDEX</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Division of Corporation Finance<BR>
Office of Finance<BR>
Securities and Exchange Commission<BR>
100 F Street, N.E.<BR>
Washington, D.C. 20549</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Attention: Sonia Bednarowski</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt">&nbsp;</TD>
    <TD STYLE="width: 36pt; text-indent: 0pt"><B>Re:</B></TD>
    <TD STYLE="text-indent: 0pt"><B>First Horizon National Corporation </B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt"><B>Registration Statement on Form S-4</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt"><B>Filed December 31, 2019</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt"><B>File No. 333-235757</B></TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Ms. Bednarowski:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">On behalf of First
Horizon National Corporation (&ldquo;First Horizon&rdquo;), and in response to the comments of the staff (the &ldquo;Staff&rdquo;)
of the Division of Corporation Finance (the &ldquo;Division&rdquo;) of the Securities and Exchange Commission (the &ldquo;Commission&rdquo;)
to First Horizon&rsquo;s registration statement on Form S-4 filed with the Commission on December 31, 2019 (the &ldquo;Registration
Statement&rdquo;) contained in your letter dated January 24, 2020 (the &ldquo;Comment Letter&rdquo;), I submit this letter containing
First Horizon&rsquo;s responses to the Comment Letter. The responses set forth in this letter are numbered to correspond to the
numbered comments in the Comment Letter. For your convenience, we have set out the text of the comments from the Comment Letter
in bold text followed by our response.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In connection with
this letter, we are filing an amendment to the Registration Statement (&ldquo;Amendment No. 1&rdquo;) on the date hereof. Page
numbers referenced in the responses refer to page numbers in Amendment No. 1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Cover Page</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>1.</B></TD><TD><B>Please disclose here
                                         the number of depositary shares representing 1/400th of an interest of First Horizon
                                         Series B preferred stock, First Horizon Series C preferred stock and First Horizon Series
                                         D preferred stock and the underlying Series B, Series C and Series D shares of preferred
                                         stock that you are offering. In addition, please disclose the aggregate value of the
                                         merger consideration.</B></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 2</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has (1) revised the cover page of the registration statement to disclose the number of depositary
shares being registered and (2) separately disclosed the aggregate value of the merger consideration on the cover page of the
joint proxy statement/prospectus.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summary</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Interests of Certain First Horizon
Directors and Executive Officers in the Merger, page 22</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>2.</B></TD><TD><B>We note that, in connection
                                         with the merger, named executive officers of First Horizon and IBKC will receive grants
                                         of closing incentive restricted stock awards. Please revise to include quantitative information
                                         regarding these awards here. In addition, please provide a brief summary of the terms
                                         of Mr. Byrd&rsquo;s compensation following the closing of the merger, including quantitative
                                         information.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has revised the disclosure on pages 22, 23 and 24 of Amendment No. 1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Governance of the Combined Company
After the Merger</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Bylaws, page 24</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>3.</B></TD><TD><B>Please provide a brief
                                         summary of the amendments to the bylaws of First Horizon here and discuss such amendments
                                         in greater detail in an appropriate section of your prospectus. In this regard, we note
                                         your disclosure that the merger agreement requires First Horizon to implement &ldquo;certain
                                         governance matters for the combined company following the completion of the merger.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has revised the disclosure on pages 24 and 132 of Amendment No. 1 to briefly summarize
the amendments to the bylaws of First Horizon that will be adopted in connection with the closing of the merger and to clarify
that the related subsections of &ldquo;Summary&mdash;Governance of the Combined Company After the Merger&rdquo; and &ldquo;The
Merger&mdash;Governance of the Combined Company After the Merger&rdquo; describe in more detail the substance of the foregoing
bylaw amendments.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt"><B><U>Combining First Horizon and IBKC may
be more difficult, page 44</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>4.</B></TD><TD><B>Please disclose the
                                         &ldquo;anticipated cost savings&rdquo; from combining the businesses of First Horizon
                                         and IBKC in an appropriate section of your prospectus and disclose a brief description
                                         of how you calculated such cost savings, to the extent practicable, or advise. In addition,
                                         we note your disclosure regarding the transaction and </B></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 3</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt; text-align: left"><B>integration costs in connection
with the merger on page 48. Please provide an estimate of the expected transaction and integration costs here, or advise.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has revised the disclosure on pages 45 and 49 of Amendment No. 1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Risk Factors</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>In connection with the merger, First
Horizon will assume IBKC&rsquo;s outstanding debt obligations and preferred stock, page 48</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>5.</B></TD><TD><B>Please disclose here
                                         quantitative information regarding IBKC&rsquo;s outstanding debt obligations, so that
                                         investors can assess the risk.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the Staff&rsquo;s comment, First Horizon
has revised the disclosure on page 50 of Amendment No. 1.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>The Merger</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Background of the Merger, page 67</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>6.</B></TD><TD><B>We note your disclosure
                                         that each of the board of directors of IBKC and First Horizon reviewed and assessed their
                                         respective strategic opportunities from time-to-time. Your disclosure does not appear
                                         to mention any discussions of business combinations by First Horizon with any entities
                                         other than IBKC. Please explain the extent to which First Horizon considered opportunities
                                         with any other companies during this time period. If no other companies were considered
                                         as potential merger partners, please explain why First Horizon did not expand its search.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><FONT STYLE="font-size: 12pt">In
response to the Staff&rsquo;s comment, First Horizon has revised the disclosure on page 70 of Amendment No. 1.</FONT></P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>7.</B></TD><TD><B>We note the disclosure
                                         that the financial advisors reviewed projections provided by First Horizon and IBKC.
                                         Please disclose any material projections that were provided by First Horizon to IBKC
                                         or its financial advisers as well as any material projections that were provided by IBKC
                                         to First Horizon or its financial adviser. Alternatively, please tell us why you believe
                                         that such disclosure is not material to an investor&rsquo;s voting decision. We also
                                         note that Morgan Stanley reviewed certain financial projections furnished to it by the
                                         management of IBKC and First Horizon. In this regard, we note that you have included
                                         the unaudited financial forecasts that were provided by IBKC and First Horizon to KBW
                                         and Goldman Sachs for the purpose of performing financial analyses in connection with
                                         their respective opinions.</B></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 4</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>RESPONSE</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the Staff&rsquo;s comment, First Horizon
has revised the disclosure on pages 111 through 116 of Amendment No. 1.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>8.</B></TD><TD><B>We note your disclosure
                                         on page 71 that, at a meeting held by the IBKC board with members of IBKC&rsquo;s management
                                         on October 15, 2019, IBKC reviewed the process conducted to date with respect to looking
                                         at &ldquo;both potential buyers of IBKC.&rdquo; Please disclose the material facts related
                                         to these potential buyers of IBKC. In this regard, we note that the IBKC was in discussion
                                         with Party A but that these discussions ended on August 30, 2019, when Party A communicated
                                         that it was no longer interested in a merger with IBKC. In addition, we note your disclosure
                                         that, on October 20, 2019, Sullivan&nbsp;&amp; Cromwell provided a term sheet to Simpson
                                         Thacher that outlined the proposed terms of Mr. Byrd&rsquo;s employment with First Horizon
                                         following the closing of a transaction and that, on October 31, 2019, First Horizon provided
                                         IBKC with a draft of Mr. Jordan&rsquo;s employment agreement to be effective upon and
                                         subject to the closing of the merger. Please provide a summary of the material terms
                                         of these agreements and any material negotiations or discussions regarding these agreements.
                                         Similarly, please describe in greater detail the discussions and negotiations regarding
                                         the exchange ratio, including which party initially proposed the consideration, and whether
                                         either party proposed changes to it as negotiations continued.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"><U>RESPONSE</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Rather than
referring to specific potential buyers of IBKC, the reference on page 71 regarding &ldquo;both potential buyers of
IBKC&rdquo; was intended to refer to possible alternative types of strategic transactions that could be undertaken by IBKC,
specifically to either enter into a transaction (1) pursuant to which IBKC was acquired or (2) pursuant to which IBKC either
acquired another entity or engaged in a merger of equals. In response to the Staff&rsquo;s comment about potential buyers of
IBKC, First Horizon has revised the disclosure on page  73 of Amendment No. 1 to eliminate any cause of confusion.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the Staff&rsquo;s comment about the employment agreements,
Fist Horizon has revised the disclosure on pages  73, 74 and 75 of Amendment No. 1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment about the discussions and negotiations regarding the exchange ratio, First Horizon has revised the
disclosure on pages 70 and 71 of Amendment No. 1.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Opinions of IBKC&rsquo;s Financial
Advisors</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Opinion of Keefe, Bruyette &amp;
Woods, Inc., page 88</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>9.</B></TD><TD><B>We note the disclosure
                                         on page 91 that, because the estimates used in KBW&rsquo;s analyses are inherently subject
                                         to uncertainty, KBW assumes no responsibility or liability for their accuracy. Please
                                         remove this disclaimer and all similar disclaimers, including Goldman Sachs&rsquo; disclaimer
                                         on page 107 that none of IBKC, Goldman Sachs or any other person assumes responsibility
                                         if future results are materially different from those forecast,&rdquo; because, while
                                         it is acceptable for a financial advisor to include language that qualifies the estimates
                                         or analyses or describes the uncertainties, it cannot disclaim responsibility for them.
                                         In addition please disclose the compensation IBKC paid to KBW or its affiliates during
                                         the past two years. In this regard, we note your disclosure on page 98 that in the past
                                         two years KBW provided investment banking or financial advisory services to IBKC and
                                         received compensation for such services. Similarly, disclose any material relationship
                                         that existed during the past two years between Goldman Sachs and its affiliates and IBKC,
                                         if any.</B></TD></TR></TABLE>


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 5</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In response to the Staff&rsquo;s comment
about disclosure of relationships with, and services provided to, IBKC, First Horizon has revised the disclosure on pages 100
and 111 of Amendment No. 1. With respect to the portion of the Staff&rsquo;s comment to remove language referenced by the
Staff on pages 91 and 107 of the S-4, First Horizon supplementally advises the Staff that both KBW and Goldman Sachs
respectfully disagree with the Staff&rsquo;s conclusion, and the response in the ensuing paragraphs represents the position
taken by KBW and Goldman Sachs that First Horizon hereby presents to the Staff on their behalf.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">KBW and Goldman Sachs believe that the relevant
language in their respective disclosures is appropriate because, as a factual matter, the underlying estimates used in their respective
analyses were provided to them by IBKC and/or First Horizon. Such information is the responsibility of IBKC and/or First Horizon,
and neither IBKC nor First Horizon are disclaiming responsibility for the information that each provided to the financial advisors.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Unlike in past circumstances in which the
Staff has requested that similar language regarding projections be removed, the language in KBW&rsquo;s and Goldman
Sachs&rsquo; disclosures disclaiming responsibility applies to the applicable financial advisor rather than the issuer or the
party to the transaction which prepared the estimates used in such financial advisor&rsquo;s analyses. In this case, such
estimates were provided to KBW and Goldman Sachs by IBKC and/or First Horizon. Neither KBW nor Goldman Sachs independently
verified such estimates and, accordingly, neither assumed responsibility or liability for their accuracy. When rendering a
fairness opinion, it is customary for financial advisors to disclaim responsibility for independent verification of the
accuracy of the financial statements, data and other information that are furnished by the client because, among other
things, such information was provided to the financial advisor. Such disclaimers of responsibility are consistent with the
terms of the engagement letters that IBKC has entered into with KBW and Goldman Sachs.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-indent: 0.5in">Neither KBW nor Goldman Sachs believes that the referenced language in the S-4
disclaims responsibility for their respective analyses. Rather, KBW and Goldman Sachs view their respective disclosure in the
S-4 as appropriately informing IBKC&rsquo;s shareholders about an important qualification regarding the scope of their
respective opinions as well as the analyses they performed. For the foregoing reasons, no modifications have been made to the
registration statement in this regard except, on page 110 of Amendment No. 1, to remove references to &ldquo;IBKC&rdquo; or
&ldquo;any other person&rdquo; to make clear that such qualification only relates to Goldman Sachs.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Opinion of Goldman Sachs&nbsp;&amp;
Co. LLC</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Summary of Financial Analyses</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Selected Companies Analyses for
IBKC, page 101</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>10.</B></TD><TD><B>We note the disclosure
                                         on page 101 that Goldman Sachs selected publicly traded banking industry companies with
                                         operations that, for purposes of analysis, may be considered &ldquo;similar to certain
                                         operations of IBKC.&rdquo; Please expand your disclosure of the selection criteria so
                                         that investors understand the factors considered for comparable companies and whether
                                         any companies that satisfied the selection criteria were excluded, and, if so, why. For
                                         example, state whether Goldman Sachs considered the total assets of the companies.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In response to the Staff&rsquo;s comment, First Horizon
has revised the disclosure on page 104 of Amendment No. 1.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Material U.S. Federal Income Tax
Consequences of the Merger, page 157</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>11.</B></TD><TD><B>Please revise the
                                         Material U.S. Federal Income Tax Consequences of the Merger section to set forth counsels&rsquo;
                                         opinions of each material tax consequence. For example, the disclosure on page 157 assumes
                                         that the merger will qualify as a reorganization within the meaning of Section 368(a)
                                         of the Internal Revenue Code instead of setting forth counsels&rsquo; opinions as to
                                         whether the merger qualifies as a reorganization within the meaning of Section 368(a)
                                         of the Code. For further guidance, please refer to Staff Legal Bulletin No. 19. We may
                                         have further comments after you file Exhibits 8.1 and 8.2.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">In response to the Staff&rsquo;s comment, First Horizon
has revised the disclosure on pages 12, 18, 161 and 162 of Amendment No.1. Forms of the tax opinions to be filed as
Exhibits 8.1 and 8.2 are attached as Appendix A and Appendix B to this response letter.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>Unaudited Pro Forma Condensed Combined Financial Statements,
page 161</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>12.</B></TD><TD><B>We note your presentation
                                         of pro forma adjustment A to reduce &ldquo;cash and due from banks&rdquo; to reflect
                                         cash of $521.1 million used to purchase branch loans and related fixed assets and assume
                                         branch deposits acquired from SunTrust Bank. However, the disclosure to footnote A on
                                         page 167 indicates that the adjustment is made to &ldquo;interest bearing cash&rdquo;
                                         rather than cash and due from banks, as shown on page 162. Please clarify which cash
                                         line item the $521.1 million should be deducted from and revise your presentation or
                                         disclosures to reconcile this discrepancy accordingly.</B></TD></TR></TABLE>


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    <!-- Field: /Page -->
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 6</P>
<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">Pro forma adjustment A is correctly presented
on the pro forma consolidated statements of condition on page 166 as a reduction of cash and due from banks. We have updated
the disclosure in footnote A on page 171 to indicate that the adjustment was made to &ldquo;cash and due from banks&rdquo;.
Footnote A now reads, &ldquo;Adjustments to <U>cash and due from banks</U> to reflect cash of $521.1 million used to purchase
branch loans and related fixed assets and assume branch deposits acquired from SunTrust Bank.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>13.</B></TD><TD><B>We note your presentation
                                         of pro forma adjustment F to reduce &ldquo;interest bearing cash&rdquo; to reflect $203.1
                                         million of contractually obligated merger costs. Please disclose the nature of the contractually
                                         obligated merger costs of $203.1 million and how they differ from the $36.5 million of
                                         after-tax contractually obligated merger costs referenced in your pro forma adjustment
                                         S. In addition, tell us why the adjustment is applied against interest bearing cash rather
                                         than &ldquo;cash and due from banks&rdquo; or &ldquo;total cash and cash equivalents.&rdquo;</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">The $203.1 million
of contractually obligated merger costs included in pro forma adjustment F represents total costs that are directly attributable
and incremental to the transaction and will be paid by First Horizon and IBKC as a result of the merger. This amount is comprised
of $82.3 million of personnel-related expenses related to change in control and other severance payments, $75.0 million of investment
banker expenses, $22.0 million for excise tax, $20.0 million of legal expenses, and $3.8 million of accounting expenses. This
amount was originally shown as an adjustment to interest bearing cash and has been revised to appear as an adjustment to cash
and due from banks. The $36.5 million of after-tax contractually obligated merger costs referenced in pro forma adjustment S represents
the impact on equity of the portion of contractually obligated merger costs that will be paid by First Horizon, net of $5.4 million
of tax benefit.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">We have revised
our pro forma consolidated condensed statements of condition on page 166 to reflect the $203.1 million of contractually
obligated merger costs included in pro forma adjustment F as a reduction of &ldquo;cash and due from banks&rdquo;.
Additionally, in &ldquo;Note 3&mdash;Preliminary Purchase Price Allocation for IBKC&rdquo; on pages 170 and 171 we updated
the balances of acquired assets attributable to cash and cash equivalents to $189,268,000 and interest-bearing cash to
$577,587,000 to reflect this adjustment. Finally, on page 172 we (1) updated Footnote F to indicate that the adjustment was
made to &ldquo;cash and due from banks&rdquo; and to include additional information about the nature of the contractually
obligated merger costs and (2) updated Footnote S to clarify that the $36.5 million of after tax contractually obligated
merger costs relates to the amount paid by First Horizon.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">Footnote F now reads,
&ldquo;Adjustments to <U>cash and due from banks</U> to reflect $203.1 million of contractually obligated merger costs <U>to be
paid by First Horizon and IBKC as a result of the merger, including personnel-related expenses and fees for investment banker,
legal, and accounting services directly attributable and incremental to the transaction</U>.&rdquo; Footnote S now reads, &ldquo;Adjustment
to Undivided profits to eliminate IBKC undivided profits of $1.3 billion and to</P>

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    <!-- Field: /Page -->
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 7</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">recognize <U>the impact on equity of </U>approximately
$36.5 million <U>(after tax)</U> of contractually obligated <STRIKE>after-tax</STRIKE> merger costs <U>to be paid by First Horizon</U>.&rdquo;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Comparison of Shareholders&rsquo;
Rights, page&nbsp;199</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>14.</B></TD><TD><B>We note that First
                                         Horizon&rsquo;s forum selection provision identifies a state court or federal court located
                                         within Shelby County in the State of Tennessee as the exclusive forum for certain litigation,
                                         including any &ldquo;derivative action.&rdquo; Please disclose whether this provision
                                         applies to actions arising under the Securities Act or Exchange Act. If this provision
                                         does not apply to actions arising under the Securities Act or Exchange Act, please tell
                                         us how you will inform investors in future filings that that the provision does not apply
                                         to any actions arising under the Securities Act or Exchange Act. If the provision does
                                         apply to claims under the federal securities laws, please include a risk factor addressing
                                         the risks of the provision. In addition, we note that the deposit agreements with the
                                         holders of deposit receipts for the Preferred Series B, C and D shares issued in connection
                                         with the merger identify the courts of the State of New York or the United States District
                                         Court for the Southern District of New York as the exclusive forum for any action, proceeding
                                         or claim against the depositary. Please disclose whether this provision in the agreements
                                         applies to actions arising under the Securities Act or Exchange Act. If this provision
                                         in the agreements does not apply to actions arising under the Securities Act or Exchange
                                         Act, please tell us how you will inform investors in future filings that that the provision
                                         does not apply to any actions arising under the Securities Act or Exchange Act. If the
                                         provision does apply to claims under the federal securities laws, please include a risk
                                         factor addressing the risks of the provision.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has revised the disclosure on pages 49 and 215 of Amendment No.&nbsp;1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>Where You Can Find More Information,
page 216</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>15.</B></TD><TD><B>Please identify the
                                         file numbers and dates of the registration statements that are incorporated by reference
                                         into the prospectus.</B></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt"><U>RESPONSE:</U></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">In response to the
Staff&rsquo;s comment, First Horizon has revised the disclosure on pages 221-222 of Amendment No.&nbsp;1.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><U>General</U></B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 36pt"><B>16.</B></TD><TD><B>Please provide your
                                         basis on which you have concluded that the transaction will not have a going private
                                         effect on IBKC. For instance, we note that certain of IBKC&rsquo;s</B></TD></TR></TABLE>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 8</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt"><B>directors and officers will continue
to serve as directors or officers, as applicable, of the combined company. Please provide your analysis as to the applicability
of Exchange Act Rule 13e-3 to the transaction, including any reliance on the exceptions to the rule&rsquo;s applicability. In
this regard, we note that cash will be paid in lieu of any fractional shares of First Horizon common stock. Specifically address
that the exception in Rule 13e-3(g)(2) requires that security holders be offered or receive only an equity security. Please also
address: (i) the number of IBKC security holders who, giving effect to the exchange ratio, would be subject to cash disposition
of fractional interests; and (ii) the estimated amount of cash payable to dispose of the fractional interests; and the (iii) the
number of IBKC security holders, if any, who would be effectively cashed out after giving effect to the cash disposition of fractional
interests. Refer to Question and Answer 11 in Exchange Act Release No. 34-17719 (April 13, 1981), which addresses only a scenario
where security holders are offered an election to receive cash.</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt; text-indent: 0pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt"><U>RESPONSE</U>:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 36pt">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="margin: 0; text-indent: 0.5in">Set forth below is the information requested by the Staff with respect
to the cash disposition of fractional interests in connection with the merger:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>As of January 31, 2020, based on information provided by IBKC&rsquo;s transfer agent, there were approximately 2,669 record
holders of IBKC common stock (excluding treasury shares). We expect that a substantial majority, and likely all, of these record
holders would receive cash in lieu of fractional shares because the exchange ratio is calculated out to three decimal points as
part of a &ldquo;market-to-market&rdquo; exchange ratio.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>Pursuant to the terms of the merger agreement, the amount of cash to be paid in respect of fractional shares will be the average
of the closing-sale prices of First Horizon common stock on the New York Stock Exchange (as reported by The Wall Street Journal)
for the consecutive period of five trading days ending on the day preceding the closing date of the merger. Accordingly, it is
currently not possible to estimate the amount of cash to dispose of fractional interests, as it will be dependent on the trading
price of First Horizon common stock during the five trading days preceding the closing date. However, (i) assuming a price per
fractional share of $16.31, the closing price for the shares of First Horizon common stock on November 1, 2019 (which was the last
trading day before public announcement of the merger) and (ii) based upon the number of shares of outstanding IBKC common stock
on January 31, 2020 of approximately 52,587,312 shares, and information provided by IBKC&rsquo;s transfer agent regarding the record
holders of IBKC common stock on January 31, 2020, we estimate that the aggregate amount of cash to be paid to record holders in
lieu of fractional shares in the merger is approximately $22,022.03.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 9</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD>No record holders of IBKC common stock would be effectively cashed out of their entire investment in IBKC common stock after
giving effect to the receipt of cash in lieu of fractional shares because each record holder holds at least one share of IBKC common
stock and, based on the exchange ratio of 4.584, would receive at least four shares of First Horizon common stock.</TD></TR></TABLE>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">For the reasons set forth below, we respectfully
submit that the merger is within the intended scope of Rule 13e-3(g)(2) and therefore exempt from the application of Rule 13e-3.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">Pursuant to the merger, each share of IBKC common
stock (other than shares of IBKC common stock owned by IBKC or First Horizon (in each case, other than shares of IBKC common stock
(i) held in trust accounts, managed accounts, mutual funds and the like, or otherwise held in a fiduciary or agency capacity, that
are beneficially owned by third parties, or (ii) held, directly or indirectly, by IBKC or First Horizon in respect of debts previously
contracted)), would be cancelled and exchanged for 4.584 shares of First Horizon common stock. As indicated by the figures above,
the cash that is expected to be paid in lieu of fractional shares (assuming the $16.31 price per share and the number of IBKC common
stock outstanding as of January 31, 2020) represents a <I>de minimis </I>amount (approximately 0.0006%) of the total consideration
in the merger, which is valued at approximately $3.9 billion (based on the closing price of First Horizon common stock on November
1, 2019). The mechanic for giving effect to the payment of cash in lieu of fractional shares is designed to ensure that all holders
of IBKC common stock would receive a cash amount equivalent to the value of the fractional First Horizon shares they would otherwise
be due by operation of the merger. Except for the payment of a <I>de minimis </I>amount of cash in lieu of fractional shares, all
the consideration will consist of First Horizon common stock, which is a class of equity security that both trades on a liquid
market and satisfies the conditions in Rule 13e-3(g)(2)(i)-(iii) (i.e., the offered equity security has substantially the same
rights as the equity security which is the subject of the Rule 13e-3 transaction, the offered equity security is registered pursuant
to section 12 of the Securities Exchange Act of 1934, as amended (the &ldquo;Exchange Act&rdquo;), and the offered equity security
is listed on a national securities exchange).</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 10</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">In the proposing release for Rule 13e-3 (Release
No. 34-14185, dated November 17, 1977), the Commission stated that &ldquo;the practice of issuers&hellip;engaging in transactions
which have the effect of eliminating or substantially reducing the equity interest of an issuer held by the public and resulting
in the issuer or its successor becoming privately held is a matter of serious concern to the Commission.&rdquo; In particular,
the Commission noted that the going private transactions for which Rule 13e-3 was designed are transactions that have a coercive
effect in that security holders confronted by a going private transaction are faced with the prospects of an illiquid market, termination
of the protections under federal securities laws, and further efforts by the issuer or its affiliates to eliminate their equity
interest. Further, as the Division has explained, the &ldquo;basis of the subparagraph (g)(2) exception is that where &lsquo;security
holders are offered only an equity security which is either common stock or has essentially the same attributes as the security
which is the subject of the Rule 13e-3 transaction&hellip; all holders of [the affected] class of security are on an equal footing
and are permitted to maintain an equivalent or enhanced equity interest.&rdquo; Question and Answer 9, Release No. 34-17719 (April
13, 1981) quoting Release No. 34-16075 (August 2, 1979). First Horizon respectfully submits that in the context of the merger,
the payment of a <I>de minimis </I>amount of cash in lieu of fractional shares does not contravene the basis of the Rule 13e-3(g)(2)
exception. Unlike the &ldquo;going private&rdquo; transactions generally captured by Rule 13e-3, by operation of the 4.584 exchange
ratio, every single holder of IBKC common stock would &ldquo;maintain an equivalent or enhanced equity interest&rdquo; (as holders
of First Horizon common stock) and would continue to enjoy the benefits of public ownership and the protections of the Exchange
Act. The cash in lieu of fractional shares in connection with the merger is not driven by any value decision or a decision to reduce
the proportional ownership of the shareholders of IBKC, but rather is a customary mechanical procedure utilized in stock transactions
to mitigate unnecessary administrative burdens on the corporate share register while permitting shareholders to maintain the equivalent
or enhanced equity interest provided for pursuant to the exchange ratio.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="margin: 0; text-indent: 0.5in">In determining the intended scope of the Rule 13e-3(g)(2) exception, the Division has
eschewed formalism and focused instead on whether a transaction is comprehended within the purposes of Rule 13e-3. For example,
while the Rule 13e-3(g)(2) exception provides that security holders may be offered &ldquo;only an equity security,&rdquo; Question
and Answer 11, Release No. 34-17719 (April 13, 1981) provides that the exception is available if security holders are offered the
opportunity to elect either cash or stock consideration, if (1) the cash, when first offered, is substantially equivalent to the
value of the security offered, and (2) both options are offered to security holders. Given that the Division has extended the Rule
13e-3(g)(2) exception to such cash/stock elections because they satisfy the exception&rsquo;s purpose of ensuring that security
holders are permitted to maintain an equivalent or enhanced equity interest, First Horizon respectfully submits that a merger where
the only cash paid is for fractional shares should also fall within the intended scope of the Rule 13e-3(g)(2) exception. As part
of its analysis, First Horizon has also considered that the Staff has not required the filing of a Schedule 13E-3 in a number of
recent transactions where cash was paid in lieu of fractional shares notwithstanding that the Staff, in reviewing the related Registration
Statements on Form S-4, made similar comments regarding the exception in Rule 13e-3(g)(2) and requested analysis regarding the
applicability of  Rule 13e-3 to the transactions then at hand. See, e.g., Correspondence from Willscot Corp., Response 3 (filed
November 28, 2018); Correspondence from Colony Credit Real Estate, Inc., Response 4 (filed November 6, 2017); Correspondence from
Forest City Realty Trust, Inc., Response 1 (filed April 14, 2017). </P>

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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 11</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
<P STYLE="margin: 0">First Horizon has also considered that the Staff has previously
granted &ldquo;no-action&rdquo; relief for reliance on Rule 13e-3(g)(2) on facts involving the payment of cash in lieu of fractional
shares to target security holders. In each of the following no-action letters, the incoming request referenced the payment of cash
in lieu of fractional shares to target security holders. See, e.g., Canadian Pacific Limited (June 26, 1996); Standard Shares,
Incorporated (April 28, 1989); and Swanton Corporation (November 26, 1984). While the discussion relating to the availability of
the exception did not focus on the presence of this cash payment, the Staff in each instance granted &ldquo;no-action&rdquo; relief
from Rule 13e-3 on the basis of the Rule 13e-3(g)(2) exception. Moreover, as a policy matter, the payment of cash in lieu of fractional
shares in the context of the merger does not involve the potential for abuse or overreaching associated with the &ldquo;going private&rdquo;
transactions generally captured by Rule 13e-3.</P>



<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 36pt"></P>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"></P>



<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>



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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">Securities and Exchange Commission</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">February 10, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Page 12</P>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">First Horizon acknowledges
that:</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 36pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">First
                                         Horizon is responsible for the adequacy and accuracy of the disclosure in its filings;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">Staff
                                         comments or changes to disclosure in response to Staff comments do not foreclose the
                                         Commission from taking any action with respect to the filing; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 54pt"></TD><TD STYLE="width: 18pt"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify">First
                                         Horizon may not assert Staff comments as a defense in any proceeding initiated by the
                                         Commissioner or any person under the federal securities laws of the United States.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 12pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have any further comments or questions
relating to the foregoing, please do not hesitate to contact H. Rodgin Cohen of Sullivan&nbsp;&amp; Cromwell LLP at (212) 558-3534
or cohenhr@sullcrom.com.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%">&nbsp;</TD>
    <TD STYLE="width: 30%">Very truly yours,</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>/s/ Clyde A. Billings, Jr.</TD></TR>
</TABLE>
<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse; font: 12pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 36pt; text-indent: 0pt">cc:</TD>
    <TD STYLE="text-indent: 0pt">Robert B. Worley, Jr., IBERIABANK Corporation</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">H. Rodgin Cohen, Sullivan&nbsp;&amp; Cromwell LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Mitchell S. Eitel, Sullivan&nbsp;&amp; Cromwell LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Lee Meyerson, Simpson Thacher&nbsp;&amp; Bartlett LLP</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0pt">&nbsp;</TD>
    <TD STYLE="text-indent: 0pt">Sebastian Tiller, Simpson Thacher&nbsp;&amp; Bartlett LLP</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Appendix A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Form of Tax Opinion</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Exhibit 8.1)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right">[ &nbsp;&nbsp;&nbsp;], 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">First Horizon National Corporation,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">165 Madison Avenue,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">Memphis, Tennessee 38103</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Reference is made
to the Registration Statement on Form&nbsp;S-4 (as amended or supplemented through the date hereof, the &ldquo;<U>Registration
Statement</U>&rdquo;) of First Horizon National Corporation, a Tennessee corporation (&ldquo;<U>First Horizon</U>&rdquo;), including
the joint proxy statement/prospectus forming a part thereof, relating to the proposed transaction between First Horizon and IBERIABANK
Corporation, a Louisiana corporation (&ldquo;<U>IBKC</U>&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">We hereby confirm
to you that the discussion set forth in the section entitled &ldquo;MATERIAL U.S. FEDERAL INCOME TAX CONSEQUENCES OF THE MERGER&rdquo;
in the Registration Statement constitutes our opinion as to the material United States federal income tax consequences of the merger
to U.S. holders of IBKC common stock and IBKC preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We hereby consent to the
filing of this opinion with the Securities and Exchange Commission as an exhibit to the Registration Statement, and to the references
therein to us. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required
under Section&nbsp;7 of the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 3.5in">Very truly yours,</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Appendix B</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Form of Tax Opinion</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Exhibit 8.2)</P>

<P STYLE="font: 12pt/13.8pt Times New Roman, Times, Serif; margin: 9.05pt 0 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt/13.8pt Times New Roman, Times, Serif; margin: 9.05pt 0 0; text-align: right"> [&nbsp;&nbsp;], 2020</P>

<P STYLE="font: 12pt/13.8pt Times New Roman, Times, Serif; margin: 9.05pt 0 0">IBERIABANK Corporation<BR>
200 W. Congress Street<BR>
Lafayette, Louisiana 70501</P>

<P STYLE="font: 12pt/13.6pt Times New Roman, Times, Serif; margin: 23.55pt 0 0; text-align: center"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/13.45pt Times New Roman, Times, Serif; margin: 9.45pt 0 0"><FONT STYLE="letter-spacing: 0.2pt">&nbsp;</FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0in">Ladies and Gentlemen:</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have acted as counsel
to IBERIABANK Corporation, a Louisiana corporation (the &ldquo;Company&rdquo;), in connection with the Merger, as defined and described
in the Agreement and Plan of Merger, dated as of November 3, 2019 (the &ldquo;Agreement&rdquo;), between the Company and First
Horizon National Corporation, a Tennessee corporation (&ldquo;First Horizon&rdquo;). For purposes of this opinion, capitalized
terms used and not otherwise defined herein shall have the meaning ascribed thereto in the Agreement. This opinion is being delivered
in connection with the filing of the Registration Statement on Form S-4 (Registration No. [*]) (the &ldquo;Registration Statement&rdquo;)
filed by the Company with the U.S. Securities and Exchange Commission (the &ldquo;Commission&rdquo;) under the U.S. Securities
Act of 1933, as amended, relating to the Merger pursuant to the Agreement.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have examined (i)
the Registration Statement (including the joint proxy statement/information statement and prospectus contained therein (the &ldquo;Prospectus&rdquo;)),
(ii) the Agreement and (iii) the representation letters of the Company and First Horizon delivered to us in connection with this
opinion (the &ldquo;Representation Letters&rdquo;). In addition, we have examined, and have relied as to matters of fact upon,
originals, or duplicates or certified or conformed copies, of such records, agreements, documents and other instruments and such
certificates or comparable documents of public officials and of officers and representatives of the Company</P>


<p><hr color=#000000 noshade></p>
<p style="page-break-before: always;">&nbsp;</p>

<PAGE>


<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%"><FONT STYLE="font-size: 12pt">IBERIABANK Corporation</FONT></TD>
    <TD STYLE="text-align: center; width: 34%"><FONT STYLE="font-size: 12pt">2</FONT></TD>
    <TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-size: 12pt"> [&nbsp;&nbsp;], 2020</FONT></TD></TR>
</TABLE>


<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify;">&nbsp;</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify">and have made such
other investigations as we have deemed relevant and <FONT STYLE="letter-spacing: 0.15pt">necessary in connection with the opinion
hereinafter set forth. In such examination, we have assumed the accuracy of the factual matters described in the Registration Statement.
In rendering the opinion set forth below, we have assumed the genuineness of all signatures, the legal capacity of natural persons,
the authenticity of all documents submitted to us as originals, the conformity to original documents of all documents submitted
to us as duplicates or certified or conformed copies and the authenticity of the originals of such latter documents. </FONT></P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="letter-spacing: 0.2pt">In
rendering such opinion, we have assumed that (i) the Merger will be effected in accordance with the Agreement, (ii) the statements
concerning the Merger set forth in the Agreement are true, complete and correct and will remain true, complete and correct at all
times up to and including the Effective Time, (iii) the representations made by the Company and First Horizon in the Agreement
and in their respective Representation Letters are true, complete and correct and will remain true, complete and correct at all
times up to and including the Effective Time and (iv) any representations made in the Agreement or the Representation Letters &ldquo;to
the knowledge of,&rdquo; or based on the belief of the Company and First Horizon or similarly qualified are true, complete and
correct and will remain true, complete and correct at all times up to and including the Effective Time, in each case without such
qualification. We have also assumed that the parties have complied with and, if applicable, will continue to comply with, the covenants
contained in the Agreement.</FONT></P>

<p><hr color=#000000 noshade></p>
<p style="page-break-before: always;">&nbsp;</p>

<PAGE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top; text-align: left">
    <TD STYLE="width: 33%"><FONT STYLE="font-size: 12pt">IBERIABANK Corporation</FONT></TD>
    <TD STYLE="text-align: center; width: 34%"><FONT STYLE="font-size: 12pt">3</FONT></TD>
    <TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-size: 12pt"> [&nbsp;&nbsp;], 2020</FONT></TD></TR>
</TABLE>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Based upon the foregoing,
and subject to the qualifications, assumptions and limitations stated herein and in the Registration Statement, we are of the opinion
that the statements made in the Prospectus under the caption &ldquo;Material U.S. Federal Income Tax Consequences of the Merger,&rdquo;
insofar as they purport to constitute summaries of certain provisions of U.S. federal income tax law and regulations or legal conclusions
with respect thereto, constitute accurate summaries of such matters in all material respects.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We do not express
any opinion herein concerning any law other than the U.S. federal income tax law.</P>

<P STYLE="font: 12pt/200% Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We hereby consent
to the filing of this opinion letter as Exhibit 8.2 to the Registration Statement, and to the references to our firm name under
the caption &ldquo;Material U.S. Federal Income Tax Consequences of the Merger&rdquo; in the Registration Statement.</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 20.3pt 0 0 200pt; text-align: left">Very truly yours,</P>

<P STYLE="font: 12pt/13.65pt Times New Roman, Times, Serif; margin: 20.3pt 0 0 200pt; text-align: left"></P>








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