First Horizon Completes TrustAtlantic Acquisition
October 05 2015 - 6:00AM
First Horizon National Corp. (NYSE:FHN), parent company of First
Tennessee Bank, has completed its acquisition of Raleigh,
N.C.-based TrustAtlantic Bank and its parent company, TrustAtlantic
Financial Corp. TrustAtlantic's systems will be converted to First
Tennessee's the weekend of Oct. 16, and the five TrustAtlantic
branches – four in the Raleigh-Cary metro area and one in
Greenville, N.C. – will open as First Tennessee branches Oct. 19.
"We are excited to complete this acquisition, which will enhance
our ability to serve the growing Research Triangle region of North
Carolina," said Bryan Jordan, chairman and CEO of First Horizon.
"We have a great team in North Carolina and the rest of our
Mid-Atlantic region, and we'll build on that by welcoming
TrustAtlantic employees and customers."
The new branches will expand convenience and enhance the
products and services First Tennessee offers in these key North
Carolina markets for commercial banking, commercial real estate,
private client, wealth management, and retail customers.
"This combination of complementary businesses will benefit
customers by giving them greater access to products, services and
talented bankers," said John Fox, president of First Tennessee's
Mid-Atlantic region.
TrustAtlantic Financial and its subsidiary, TrustAtlantic Bank,
had approximately $430 million in total assets, $368 million in
total deposits and $317 million in gross loans as of June 30.
About First Horizon
The 4,200 employees of First Horizon National Corp. (NYSE:FHN)
provide financial services through more than 170 bank locations in
and around Tennessee and 26 FTN Financial Group offices in the U.S.
The company was founded during the Civil War in 1864 and has the
14th oldest national bank charter in the country. First
Tennessee has one of the highest customer retention rates of any
bank in the country, and FTN Financial is a capital markets
industry leader in fixed income sales, trading and strategies for
institutional customers in the U.S. and abroad. First Horizon has
been recognized as one of the nation's best employers by Forbes,
Working Mother and American Banker magazines. More information is
available at www.FirstHorizon.com.
CONTACT: Investor Relations, Aarti Bowman, (901) 523-4017
Media Relations, Jack Bradley, (901) 523-4813
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