first horizon bank footprint

Jim Cramer: First Horizon Is a Gem Among the Regional Banks But FHN bank CEO Bryan Jordan faces a big challenge in getting investors to recognize that fact. The companies expect to save $170 million from combining operations. The pro forma bank branch footprint is located in 15 of the Top 20 Southern MSAs by population and in 11 states throughout the combined footprint. While serving in this capacity Cordova branch was highest transactional branch in Memphis bank footprint. This may include differing underwriting guidelines, product features, terms, fees, and pricing. We've found that it's harder than it should be to obtain a current list of the biggest banks by asset size, so we decided to put it here — data straight from the FDIC in June 2020.. For years, JPMorgan Chase, Bank of America, Wells Fargo, and Citi have … The company operates approximately 270 bank locations across the Southeast U.S. and 29 FHN Financial offices across the entire U.S. FHN Advisors wealth management group has more than 300 financial professionals and about $4.8 billion in assets under management. In connection with the proposed transaction, First Horizon will file with the SEC a registration statement on Form S-4 to register the shares of First Horizon's capital stock to be issued in connection with the proposed transaction. Leveraging technology for the creation and distribution of both companies’ products while also providing transparency and educational tools for financial advisors, institutions and issuers, is key to the merger. Additional factors that could cause results to differ materially from those contemplated by forward-looking statements can be found in First Horizon's Annual Report on Form 10-K for the year ended December 31, 2018, and in its subsequent Quarterly Reports on Form 10-Q filed with the SEC and available in the "Investor Relations" section of First Horizon's website, http://www.firsthorizon.com, under the heading "SEC Filings" and in other documents First Horizon files with the SEC, and in IBERIABANK's Annual Report on Form 10-K for the year ended December 31, 2018, and in its subsequent Quarterly Reports on Form 10-Q filed with the SEC and available in the "Investor Relations" section of IBERIABANK's website, www.iberiabank.com, under the heading "Financials & Filings" and in other documents IBERIABANK files with the SEC. The deep freeze, and Texas power market structure, left the state's public utilities with sky-high wholesale power bills and a trail of burst water pipes. He said the firm expanded throughout the Northeast from deals in New York, Connecticut, Pennsylvania and the District of Columbia with North Carolina volume also increasing in 2019 aided by the opening of a Charlotte public finance office in mid-2018. The company has a market cap of $7 billion and sports a Zacks Rank #1. The combined company will be headquartered in Memphis, Tenn., and will maintain a significant operating presence in all of the markets in which both companies operate today. “As we look to strategically target new markets as well as get deeper in the ones we’re competing in, I think there is an opportunity to recruit really talented individuals to an organization and a platform that is committed long-term to public finance.”. Our combined new scale, deep experience in financial services and diverse business mix in the South uniquely position us to accelerate our growth and create lasting shareholder value. When typing in this field, a list of search results will appear and be automatically updated as you type. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval. The combined company will be led by a balanced board and executive leadership team composed of members from both First Horizon and IBERIABANK. Investors and shareholders will be able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about First Horizon and IBERIABANK, without charge, at the SEC's website (http://www.sec.gov). The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC". Thomas noted that roughly 66% of FHN’s par amount was executed in the last six months of the year largely driven by issuers seeking low taxable interest rates for refundings. IBERIABANK Corporation is a financial holding company with locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services. 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Under the terms of the merger agreement, IBERIABANK shareholders will receive 4.584 shares of First Horizon for each IBERIABANK share they own. “First Horizon is truly unique in its ability to provide world-class customer service and modern banking solutions that meet the needs of our clients. FHN is targeting even bigger growth next year following a November merger between Memphis-based First Horizon and Iberiabank of Lafayette, Louisiana, that will that will make the combined entity a top 25 U.S. bank in deposits with assets totaling more than $75 billion once the deal is completed in 2020. Upon closing of the transaction, the Board of Directors will consist of nine directors from First Horizon and eight directors from IBERIABANK. Free copies of these documents, when available, may be obtained as described in the preceding paragraph. Information regarding First Horizon's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 11, 2019, and certain of its Current Reports on Form 8-K. Information regarding IBERIABANK's directors and executive officers is available in its definitive proxy statement, which was filed with SEC on March 28, 2019, and certain of its Current Reports on Form 8-K. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. The merger is expected to close in the second quarter of 2020, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company. The registration statement will include a joint proxy statement of First Horizon and IBERIABANK which will be sent to the shareholders of First Horizon and IBERIABANK seeking their approval of the proposed transaction. This press release contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") with respect to First Horizon's and IBERIABANK's beliefs, plans, goals, expectations, and estimates. The pro forma bank branch footprint is located in 15 of the Top 20 Southern MSAs by population and in 11 states throughout the combined footprint. 601 Poydras Street. Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, the combined holding company and bank will operate under the First Horizon name and will be headquartered in Memphis, Tenn. Once the transaction is completed, the combined company will be one of the largest financial services companies headquartered in the South and one of the top 25 banks in the U.S. in deposits. First Horizon — formerly First Tennessee Bank — recorded nearly $114 million in local deposits as of June 30, 2019, per the FDIC. The cost saving measures are expected across First Horizon, not just in IberiaBank's footprint. 601 Poydras St. 7/28/2020 Investor Relations Client Services Operations Coordinator ^company_name^ First Horizon Bank and First Horizon Advisors provide consumer and commercial banking and wealth management services. For reprint and licensing requests for this article. Its banking subsidiary, First Horizon (formerly First Tennessee), is the largest bank in Tennessee and the fourth largest regional banking company in the Southeast. Morgan Stanley & Co. LLC is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to First Horizon. The web site you have selected is an external site not operated by Horizon Bank. First Horizon Advisors is the trade name for wealth management products and services provided by First Horizon Bank and its affiliates. FHN Financial, which operates partly through a division of First Horizon Bank and partly through subsidiaries, is an industry leader in fixed income sales, trading, and strategies for institutional clients in the U.S. and abroad. First Horizon is in the top 10 for Charlotte-area banks, reporting about $1.25 billion in local deposits last year. Two years ago First Horizon — then known as First Tennessee Bank — acquired North Carolina-based Capital Bank Financial Corp., which helped spread its footprint … Reducing tax fraud is one of the goals of the fiscal plan approved by the Puerto Rico Oversight Board in May. Our clients may be the target of fraud … The principal place of business of FHIS is 165 Madison Ave., Memphis, TN 38103. Mainstreaming some emergency measures would provide the Department of Design and Construction more contracting flexibility, said first deputy commissioner Jamie Torres-Springer. 45,524 likes. “We want to continue to grow our footprint meaningfully and get deeper in the south and southeast and certainly in the northeast and expand into new markets where we think the firm will resonate and can be identified.”. HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, Return on Average Tangible Common Equity of approximately 18%, Return on Average Assets of approximately 1.4%, and. The combined company's regional banking headquarters will be located in New Orleans, La. ... FHN) provides financial services through First Horizon Bank, First Horizon Advisors, and FHN Financial businesses. We caution that the foregoing list of important factors that may affect future results is not exhaustive. By joining forces with First Horizon, we will create an organization that has the resources to invest in advanced technologies and expand lending capacity and product offerings for our combined clients. Through this alliance with Operation HOPE, First Horizon Bank offers free financial empowerment workshops at our HOPE Inside locations in Florida, North Carolina, South Carolina, Tennessee and Mississippi. footprint. We chose a partner who values deep relationships and is culturally aligned with our core mission, which is to create a great place to work for employees, deliver extraordinary, value-based client service, meet the expectations of our shareholders and invest in the communities we serve. Separately, we are both formidable organizations with strong track records, great businesses and talented bankers. Like what you see? The Company's Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock also trade on the NASDAQ Global Select Market under the symbols "IBKCP", "IBKCO", and "IBKCN", respectively. J.B. Pritzker is still mulling action on legislation Mayor Lori Lightfoot says will add to the city's considerable fiscal burdens. Per the terms of the deal, First Horizon will assume deposits worth around $2.4 billion, at a deposit premium of around 3.4%. First Horizon Bank Jul 2017 - Present 3 years 8 months Senior Credit Officer for centralized commercial lending center responsible for commercial credit approvals for a twelve state footprint. Keefe, Bruyette & Woods and Goldman Sachs are serving as financial advisors and Simpson Thacher & Bartlett LLP is serving as legal counsel to IBERIABANK. ", New Company Governance and Leadership Team. Presentation slides will be available on both the First Horizon website (www.firsthorizon.com) and the IBERIABANK website (www.iberiabank.com). The Company's common stock market capitalization was approximately $3.9 billion, based on the closing stock price on November 1, 2019. FHN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. Examples of uncertainties and contingencies include factors previously disclosed in First Horizon's and IBERIABANK's respective reports filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the following factors, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between First Horizon and IBERIABANK; the outcome of any legal proceedings that may be instituted against First Horizon or IBERIABANK; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated; the risk that any announcements relating to the proposed combination could have adverse effects on the market price of the common stock of either or both parties to the combination; the possibility that the anticipated benefits of the transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where First Horizon and IBERIABANK do business; certain restrictions during the pendency of the merger that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; First Horizon and IBERIABANK success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by First Horizon's issuance of additional shares of its capital stock in connection with the proposed transaction; and other factors that may affect future results of First Horizon and IBERIABANK. Gov. The combined organization will have $75 billion in assets, $57 billion in deposits and $55 billion in loans. The merger combines two complementary franchises that are uniquely positioned to capitalize on market opportunities and increase their client base through greater scale, strategic investments in advanced technologies and expanded product offerings. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon and IBERIABANK, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. The firm changed its name to FHN Financial from FTN Financial on Oct. 25 in connection with the overall branding strategy of parent First Horizon National Corp. Ajay Thomas, who heads FHN’s public finance department, said the firm is making steady progress in becoming a major player on municipal bond deals. "We’re really excited about the progress we have made in public finance over the last couple of years,” Thomas said. First Horizon Bank is the retail bank everyone knows, Advisors is its wealth management business, and FHN its wholesale bond business. San Francisco Unified School District's rating was lowered a notch to Aa3 by Moody's Investors Service. Together, First Horizon and IBERIABANK will create a powerful new company driven by our shared commitment to our customers, communities, shareholders and the employees we serve. The words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate future events and trends identify forward-looking statements. A replay of the call will be available until midnight Central Time on November 11, 2019, by dialing 1-877-344-7529. ", IBERIABANK President and CEO Daryl Byrd said, "This merger of equals represents an exciting next chapter for both companies. FHN Financial reports large strides in its public finance business amid a rebranding and bank merger with eyes on a larger piece of the pie. - Creates a leading regional financial services company with significant scale at $75 billion in assets, - Combination to be strongly accretive to EPS, - Significant synergies anticipated to drive value creation and enhanced financial performance, - Pro forma company expected to have peer leading profitability metrics, - Proven strong credit culture and risk management practices, - Aligned relationship-oriented cultures committed to creating a great place to work for employees, - Expansive 11-state reach in high-growth, attractive markets across the combined footprint, - Broadens business mix, creating a strong core deposit franchise, diversified loan portfolio and differentiated revenue streams, - Scale and earnings power to invest in advanced technologies and innovation to deliver an extraordinary client experience, - Experienced combined management team with a strong history of successfully executing and integrating transformative transactions. He also wants to target new business in Pennsylvania after involvement with 2019 transactions last year issued by Pennsylvania Turnpike Commission and the city of Philadelphia. The combined companies will now operate under the First Horizon brand and will be headquartered in Memphis, with a regional banking headquarters in New Orleans. INVESTORS AND SHAREHOLDERS OF FIRST HORIZON AND IBERIABANK ARE URGED TO READ, WHEN AVAILABLE, THE REGISTRATION STATEMENT ON FORM S-4, THE JOINT PROXY STATEMENT/PROSPECTUS TO BE INCLUDED WITHIN THE REGISTRATION STATEMENT ON FORM S-4 AND ANY OTHER RELEVANT DOCUMENTS FILED OR TO BE FILED WITH THE SEC IN CONNECTION WITH THE PROPOSED TRANSACTION, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT FIRST HORIZON, IBERIABANK AND THE PROPOSED TRANSACTION. We look forward to bringing our companies together to better serve our clients and communities. ... First Horizon has sizable footprint … Trust services provided by Bank. Once the merger … MEMPHIS, Tenn. & LAFAYETTE, La., Nov. 4, 2019 /PRNewswire/ -- First Horizon National Corp. ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced that they have entered into a definitive agreement under which the companies will combine in an all-stock merger of equals. “We have had great momentum and some nice wins,” said Michael Solomon, an FHN senior vice president who works out of the firm’s New York office. First Horizon Advisors is the trade name for wealth management products and services provided by Bank and its affiliates. Banking products and services at such locations will be provided by IBERIABANK, a division of First Horizon Bank. First Horizon National Corp. (NYSE:FHN), with $86 billion in assets, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. It is the holding company for First Tennessee Bank and FTN Financial. The combined bank will continue its investments in these and other important initiatives in the communities in which it operates. The confirmation code for the replay is 10136743. The Nov. 6 Yonkers deal priced two weeks after FHN’s name change, which Thomas said has enabled it to identify as more of a national brand instead of a regional bank that has traditionally been centered mainly in the Deep South. First Horizon looks priced for high single-digit to low double-digit annualized returns, which isn't bad, but I like to pay $0.90 (or less) for a dollar of value and bank stocks are no exception. First Horizon, IBERIABANK and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the SEC. To listen to the live call, please dial 1-877-879-1183 and enter the participant code 9174896. "We’re evolving to that next level and are excited about 2020.”. We are pleased to have a partner with a complementary people-focused culture, shared values and a growth-oriented business model. While Iberia doesn’t have much of a fixed income business, Thomas said the merger benefits FHN’s public finance efforts in terms of branding and visibility at its commercial and retail bank locations throughout the Southeast. First Horizon Bank is a Member FDIC and Equal Housing Lender. First Horizon and IBERIABANK will conduct a live conference call to discuss the transaction at 8:30 a.m. Central Time today. The new company will be led by Daryl G. Byrd as Executive Chairman of the Board of Directors and D. Bryan Jordan as Chief Executive Officer. Thomas said in 2020 FHN will focus more attention on the southwest and southeast regions where the bank’s overall footprint is growing to a … IberiaBank and First Horizon Bank announced July 2 that they completed the previously announced merger of equals. Cision Distribution 888-776-0942 Insurance products are provided by First Horizon Insurance Services, Inc. (“FHIS”), a Tennessee corporation, and a subsidiary of First Horizon Bank. Investment management services, investments, annuities and financial planning available through First Horizon Advisors, Inc., member FINRA, SIPC, and a subsidiary of Bank. Founded in 1864, it is the fourteenth oldest United States bank on the list of oldest banks in continuous operation. More information is available at www.FirstHorizon.com. Moreover, the deal comes with about $410 million in loans. Muni yields rose another five basis points on the 10- and 30-year, bringing the total cuts to scales to 18 and 17 basis points, respectively, from Tuesday as the asset class moved closer to UST movements after lagging that market since the start of the year. First Horizon Bank and IBERIABANK, a division of First Horizon Bank, will continue to offer independent product lines for a period of time. This link is provided for convenience and informational purposes only and Horizon does not endorse and is not responsible for the content links, privacy policy or security policy of this website or app you are about to visit. FHN‘s busy late 2019 included leading a $152.2 million general obligation offering from Yonkers, New York and $17.6 million refunding deal for Norwalk, Connecticut, in November which Thomas said demonstrates the firm's extended footprint. Thomas said the firm would also like to eventually gain more of a presence in the Midwest region and is looking to recruit new banking talent for a few concentrated municipal sectors such as transportation and higher education. The banking subsidiary was founded in 1864 and has the largest deposit market share in Tennessee. First Horizon Bank and IBERIABANK, a division of First Horizon Bank, will continue to offer independent product lines for a period of time. ... with Florida's 68 branches the most of any state across the bank's footprint. This may include differing underwriting guidelines, product features, terms, fees, and pricing. (RTTNews) - First Horizon National Corp. (FHN) and IBERIABANK Corp. (IBKC) announced Monday that they have agreed to combine the companies … Welcome to the official page of First Horizon Bank. The goal is to upfit all of the branches across First Horizon's footprint over the next three to five years, said Daniel Dent, retail banking executive. CRA Data Analyst - Location: First Horizon Bank Footprint ^company_name^ Lafayette, LA. I look forward to becoming actively involved in the Nashville community and to working with my colleagues to grow the bank’s footprint in Middle Tennessee.” About First Horizon California Insurance License # … Additionally, IBERIABANK shareholders will receive a 43% increase in their dividend after consummation of the transaction, based upon each company's current dividend per share. First Horizon National Corp. (NYSE:FHN) provides financial services through First Horizon Bank, First Horizon Advisors, and FHN Financial businesses. Disneyland amusement park in Anaheim has been closed since March as California struggled to reduce its COVID-19 numbers. First Horizon has agreed to a two-year non-compete covenant related to the National Mortgage Business with a carve-out for First Horizon continuing to operate retail mortgage lending in its First Tennessee Bank footprint market (including future markets entered on a de-novo basis or thru acquisition/merger). Copies of the registration statement, including the joint proxy statement/prospectus, and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to Clyde A. Billings Jr., First Horizon, 165 Madison Ave, Memphis, TN 38103, telephone (901) 523-5679, or Jefferson G. Parker, IBERIABANK, 200 West Congress Street, Lafayette, LA 70501, telephone (504) 310-7314. 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