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First Horizon National Corporation (SWOT Analysis)

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“SWOT is an acronym for the internal Strengths and Weaknesses of a firm and the environmental Opportunities and Threats facing that firm. SWOT analysis is a widely used technique through which managers create a quick overview of a company’s strategic situation. The technique is based on the assumption that an effective strategy derives from a sound “fit” between a firm’s internal resources (strengths and weaknesses) and its external situation (opportunities and threats). A good fit maximizes a firm’s strengths and opportunities and minimizes its weaknesses and threats. Accurately applied, this simple assumption has powerful implications for the design of a successful strategy.”

First Horizon National Corporation

First Horizon National Corporation (First Horizon) is a bank holding company. The group operates through its subsidiaries to provide deposit accounts, loans, insurance, employee benefit plans, trust services, venture capital, equipment financing, transaction processing, and mutual funds. The group operates in more than 500 locations in 42 states in the US. It is headquartered in Memphis, Tennessee and employs about 10,000 people.

Strengths, Weaknesses, Opportunities and Threats (SWOT)

Location of Factor

TYPE OF FACTOR

Favorable

Unfavorable

Internal

Strengths

  • Major regional bank holding company
  • Strong branch presence in Tennessee
  • Efficiency initiatives

Weaknesses

  • Exposure to mortgage market
  • Lack of scale

External

Opportunities

  • Opportunities for growth in wealth management
  • Opportunities in the credit card segment
  • Demographic shift in the US throwing up opportunities in the retirement market

Threats

  • Weak mortgage market in the US
  • Consolidation in the US banking sector
  • Economic slowdown in US
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