MEMPHIS, Tenn., July 20, 2020 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN) today announced First Horizon Bank’s completion of the acquisition of 30 branches from SunTrust now Truist. The transaction, which adds approximately $440 million in loans and $2.3 billion in deposits, further enhances the bank’s presence in key growth markets such as Durham, Chapel Hill and Winston-Salem, North Carolina, and extends its banking footprint into additional attractive markets in Virginia and Georgia.
“Today marks another milestone for First Horizon as we continue to build a leading southern financial services organization,” said President and CEO Bryan Jordan. “In addition to our recent merger of equals with IBERIABANK, this transaction enhances our ability to serve clients and communities, accelerate growth and drive long-term shareholder value. Our associates have worked diligently to get us to this day, and I thank them for their tireless effort especially during these challenging times. We are excited to welcome our new associates and clients to the First Horizon family.”
The acquired branches were converted to First Horizon banking centers over the weekend of July 17-19, 2020. Including this transaction and the IBERIABANK merger, on a combined basis as of June 30, 2020, the Company had nearly 500 banking centers in 12 states, with approximately $86 billion in assets, $68 billion in deposits and $59 billion in loans.