MEMPHIS, Tenn., Oct. 5, 2015 (GLOBE NEWSWIRE) — 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