MEMPHIS, Tenn., Oct. 11, 2017 (GLOBE NEWSWIRE) — First Tennessee Bank National Association, the regional bank of First Horizon National Corp. (NYSE:FHN), has acquired the operations and certain assets of Professional Mortgage Company, Inc. (PMC). Financial terms were not disclosed.
Founded in 1977 in Greenville, S.C., PMC is a leading provider of institutional debt capital and commercial mortgage loan servicing. PMC services approximately $1.1 billion of commercial mortgage loans for its 23 correspondent life company lenders. Eleven professionals will join First Tennessee’s Commercial Real Estate team as a result of the transaction, expanding the capabilities of First Tennessee’s CRE platform.
About First Tennessee Bank
First Tennessee Bank was founded in 1864 and has the 14th oldest national bank charter in the country, one of the highest customer retention rates of any bank in the country, and the largest deposit market share in Tennessee. The FTB Advisors wealth management group has 313 financial advisors and $27 billion in assets under administration. First Tennessee Bank, FTN Financial and FTB Advisors are part of First Horizon National Corp. (NYSE:FHN), which has 4,300 employees. First Horizon has been recognized as one of the nation’s best employers by Working Mother and American Banker magazines. More information is available at www.FirstTennessee.com.
Contact: James Dowd (901) 523-4305 JEDowd@FirstTennessee.com