Local Banks Could Benefit From Bailout

Johnson City, Tenn.—A bank brand in the Tri-Cities might see some money from the federal government’s $700-billion rescue package.

According to Dow Jones news wires, First Horizon National Corporation (the parent company of First Tennessee Bank), will receive $866-million dollars.  It’s expected to increase the bank’s tier-one capital ration from 10.9-percent to 14.1 percent.