8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

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FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported) - November 9, 2004

FIRST HORIZON NATIONAL CORPORATION
(Exact Name of Registrant as Specified in Charter)

TENNESSEE	000-4491	62-0803242
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

165 MADISON AVENUE MEMPHIS, TENNESSEE	38103
(Address of Principal Executive Office)	(Zip Code)

Registrant's telephone number, including area code - (901) 523-4444

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 7.01.    REGULATION FD DISCLOSURE

Furnished as Exhibit 99.1 is a copy of First Horizon National Corporation In-house Fourth Quarter 2004 Analyst Visit and is scheduled to be released November 9, 2004.

ITEM 9.01.    Financial Statements and Exhibits

(c) Exhibits

The following exhibit is furnished pursuant to Item 7.01, is not to be considered "filed" under the Securities Exchange Act of 1934, as amended ("Exchange Act"), and shall not be incorporated by reference into any of First Horizon National Corporation's ("Corporation") previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act.

Exhibit #	Description
99.1	First Horizon National Corporation In-house Fourth Quarter Analyst Visit

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	FIRST HORIZON NATIONAL CORPORATION
Date: November 9, 2004	By:__/s/ Marlin L. Mosby III______________________ Name: Marlin L. Mosby III Title: Executive Vice President and Chief Financial Officer

Exhibit Index

The following exhibit is furnished pursuant to Item 7.01 is not to be considered "filed" under the Exchange Act, and shall not be incorporated by reference into any of the Corporation's previous or future filings under the Securities Act of 1933, as amended, or the Exchange Act.

Exhibit #	Description
99.1	First Horizon National Corporation In-house Fourth Quarter Analyst Visit

EX-99

Exhibit 99.1

FIRST HORIZON NATIONAL

Fourth Quarter 2004

Analyst Visit

SAFE HARBOR STATEMENT

This document contains forward-looking statements involving significant risks and uncertainties. A number of factors could cause actual results to differ materially from those in the forward-looking information. These factors are outlined in the recent earnings press release and in more detail in the most current 10-Q and 10-K. First Horizon disclaims any obligation to update any of the forward-looking statements that are made from time to time to reflect future events or developments.

HISTORICAL PERFORMANCE

	Historical 5 Year Performance	Rank
Return on Equity	22.4%	2nd
Return on Assets	1.6%	7th
Fee Income as a Percent of Revenue	61.0%	2nd

* Rank among 16 Institutions (10 High Performers and 8 Industry Peers, with two overlaps)
Source: First Call/SNL Datasource

The following graph shows our earnings per share growth over the past five years beginning in 1999. The blue line represents our actual growth of 14.5%. The green line depicts what we would have grown at the high performers' level of 13.7%. The orange line portrays what our EPS growth would have been at the industry rate of 10.7%.

The following graph shows a 16% CAGR in dividends declared from $.79 in 1999 to $1.63 in 2004.

CURRENT PERFORMANCE

3RD QUARTER EARNINGS HIGHLIGHTS

• Retail/commercial banking continued strong growth from national expansion and asset quality improvements
• Challenging operating environment caused:

• Delayed purchases from all fixed income investors
• Increased impairment costs from 2Q04 with declining refi activity
• Competitive mortgage pricing

• Management identified technical error in documentation and pulled 3rd quarter HELOC securitization
• Investment portfolio gains from the sale of investment securities initiated primarily due to a delay in the closing of the HELOC securitization

The following graph shows 3Q03 business mix compared to 3Q04 business mix. In 3Q03, pre-tax income was split in the following manner: retail/commercial banking was 37%; mortgage was 57%; capital markets was 19%; and corporate was negative 13%. In 3Q04, pre-tax income was split in the following manner: retail/commercial banking was 61%; mortgage was 22%; capital markets was 10%; and corporate was 7%.

BENEFITS OF BUSINESS MIX

• Counter cyclical earnings
• Increased opportunities for expansion
• Enhanced cross-sell opportunities
• Working Together initiatives

STRATEGIC COMBINATION

FTN financial + SLK'S fixed income division

• Expands fixed income sales force
• Continues to diversify into non-depository customer base
• Broader product offerings with enhanced trading
• Enhances distribution platform
• Accretive in first year

STRATEGIC OBJECTIVES

• Maintain high-performing long-term EPS growth and industry-leading profitability levels
• Continue to develop our national franchise while reducing reliance on mortgage and fixed income

NATIONAL BANKING EXPANSION STRATEGY

NATIONAL EXPANSION OBJECTIVES

• Cross-sell our full array of financial products to existing mortgage and fixed income customers
• Continue to grow national customer base through increased sales force

- People first / bricks and mortar support

The following graph shows a 33% CAGR in the national financial services revenues of $101 million in 2001 to $240 million annualized in 2004.

The following chart shows five levels of financial centers, with FC 5 encompassing the most products and services. FC 1 includes mortgage originations. FC 2 includes mortgage originations and complimentary retail cross-sell products. FC 3 includes mortgage originations, complimentary retail cross-sell products and specialized sales forces.

FC 4 includes mortgage originations, complimentary retail cross-sell products, specialized sales forces and deposit-taking activities. FC 5 includes mortgage originations, complimentary retail cross-sell products, specialized sales forces, deposit-taking activities, and financial centers.

FIRST HORIZON NATIONAL EXPANSION

	2001	2004*	Improvement
Mortgage RM's	679	1,792	38% Growth
Specialized Sales Force	0	176
Banking HHs (000's)	75	199	38% Growth
% of HHs with Banking Products	16%	35%	19 Percentage Points
Consumer Loans (billions)	$2.0	$4.7	54% Growth
Commercial Loans (billions)	$0.3	$1.2	51% Growth
Deposits (billions)	$0.0	$0.1	265% Growth

*As of 9/30/04
Note: Growth reflects CAGR

The following map shows our landscape in 2001 with 166 mortgage originations offices and 5 home building finance offices.

The following map shows our current landscape with 347 mortgage originations offices, 13 wealth management offices, 15 home builder finance offices and 16 small business lending offices.

The following map shows our expanding national bank landscape with 399 branch offices, 43 home builder finance offices, 42 small business offices, and 20 wealth management offices.

REVENUE GROWTH DRIVERS

Retail/Commercial Banking

• Continue national expansion through national customer base
• Capture opportunities from market disruption

Mortgage

• Grow mortgage relationship managers
• Expand servicing portfolio profitability

Capital Markets

• Draw on strength in niche markets/products in capital markets
• Target non-depository institutions to grow customer base

STRATEGIC ACQUISITIONS
SOLIDIFY STRATEGIC ADVANTAGE

Disciplined acquisition approach

• Broaden Product Mix
• Increase Sales Force
• Expand Geography

SUMMARY CONCLUSION

• Business mix rebalancing
• Platform for growth in place in all business segments
• Additional national expansion opportunities