Unionman76
Heisman
Posts: 7,990
Joined: Dec 2006
Reputation: 1351
I Root For: Memphis
Location: Olive Branch, MS |
First Horizon Bank Sold
1st National Bank of Memphis
then 1st Tennessee Bank
then 1st Horizon Bank
has been sold for 13.4 billion to
TD Bank, Toronto-Dominion Bank
all cash
after they had survived for about 40 years of bank mergers
wonder how this will affect local projects
and sports sponsorship,
they were a big supporter of UT sports in knoxville
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| 02-28-2022 09:33 AM |
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tigerlands
Hall of Famer
Posts: 13,939
Joined: Feb 2004
Reputation: 105
I Root For: Memphis Tigers
Location: Memphis |
RE: First Horizon Bank Sold
(02-28-2022 09:33 AM)Unionman76 Wrote: 1st National Bank of Memphis
then 1st Tennessee Bank
then 1st Horizon Bank
has been sold for 13.4 billion to
TD Bank, Toronto-Dominion Bank
all cash
after they had survived for about 40 years of bank mergers
wonder how this will affect local projects
and sports sponsorship,
they were a big supporter of UT sports in knoxville
Yes, they love them some UT. I've always been bothered somewhat that they didn't show as much love to the home team.
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| 02-28-2022 10:07 AM |
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Guitarman
All American
Posts: 2,748
Joined: Oct 2007
Reputation: 302
I Root For: Memphis Tigers!
Location: |
RE: First Horizon Bank Sold
For what it's worth, the singer in my band is an Sr. VP of a bank here in town. I didn't think much of the First Horizon's takeover, but she happened to see my credit card laying there that said "First Tennessee".
She said "You grown and I can't tell you what to do....but you need to HIGHLY reconsider getting away from them and going with anyone else".
Today I'm moving all 12 of my accounts.
(This post was last modified: 03-01-2022 08:00 AM by Guitarman.)
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| 03-01-2022 07:59 AM |
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Guitarman
All American
Posts: 2,748
Joined: Oct 2007
Reputation: 302
I Root For: Memphis Tigers!
Location: |
RE: First Horizon Bank Sold
(03-01-2022 10:46 AM)Hernando Hills Tiger Wrote: You grown?
Nope...I have her fooled.
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| 03-01-2022 02:57 PM |
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tigergreen
Moderator
Posts: 22,284
Joined: Apr 2005
Reputation: 566
I Root For: MEMPHIS
Location: E.Midtown is Memphis |
RE: First Horizon Bank Sold
(03-01-2022 07:59 AM)Guitarman Wrote: Today I'm moving all 12 of my accounts.
Who are you moving to? We have our main checking & savings accounts with FTN, but I'm happy to consider moving once this merger occurs as well.
We have another account with Commercial Bank & Trust, but I feel like I want something a little bigger for our main stuff.
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| 03-01-2022 04:37 PM |
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Guitarman
All American
Posts: 2,748
Joined: Oct 2007
Reputation: 302
I Root For: Memphis Tigers!
Location: |
RE: First Horizon Bank Sold
(03-01-2022 04:37 PM)tigergreen Wrote: Who are you moving to? We have our main checking & savings accounts with FTN, but I'm happy to consider moving once this merger occurs as well.
We have another account with Commercial Bank & Trust, but I feel like I want something a little bigger for our main stuff.
So many to choose from, right?? But I did some research today. Looks like I'm leaning towards Pinnacle. I talked to them twice today and they have everything I have now PLUS free features that FTB wanted to charge me an arm and a leg for.
My accounts include both daughters and my wife's personal accounts, a couple of savings accounts, but the biggee is my business account. I always felt like FTB treated me like a red-headed step child when it came to my business account....restrictions, fees, "we can't do that for you", etc. Pinnacle told me today they will give me everything I'm asking for at no additional cost.
If you decide to go Pinnacle, DM me and i'll give you my contact's info. She answered all my questions without having to "...get back with me"....which at FTB meant a week later.
PS - I talked to my Sister today who is a Forensic Accountant. She said the same thing my singer told me "...I don't care where you go, just get away from FTB while you can".
(This post was last modified: 03-02-2022 07:58 AM by Guitarman.)
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| 03-01-2022 09:48 PM |
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Unionman76
Heisman
Posts: 7,990
Joined: Dec 2006
Reputation: 1351
I Root For: Memphis
Location: Olive Branch, MS |
RE: First Horizon Bank Sold
first horizon bank not sold
td backed out of the deal
deal was at $25 stock value
first horizon closed today at 10.06
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| 05-04-2023 04:15 PM |
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tigerlands
Hall of Famer
Posts: 13,939
Joined: Feb 2004
Reputation: 105
I Root For: Memphis Tigers
Location: Memphis |
RE: First Horizon Bank Sold
I saw somewhere the following:
"According to a news release, TD will make a $200 million cash payment to First Horizon as part of the termination agreement.
TD will also make a $25 million fee reimbursement payment to First Horizon, pursuant to the original merger agreement."
I also saw that First Horizon then put $50 million of that cash payment into the
First Horizon Foundation Fund. Hopefully some of that money will find its way into some community charities and whatnot.
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| 05-13-2023 04:59 PM |
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Cletus
Hall of Famer
Posts: 20,045
Joined: Feb 2004
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I Root For: Memphis
Location: Collierville TN |
RE: First Horizon Bank Sold
.
Looks like Canadian TD Bank doesn't have a problem with money laundering?
Concern about TD's anti-money laundering controls? What we know about the new twist in the failed First Horizon deal
The Wall Street Journal and Bloomberg News reported May 9 the U.S. regulators’ concerns about the way Toronto-Dominion Bank handles suspicious transactions was at the root of their reluctance to approve the Canadian bank’s US$13.4 billion takeover of First Horizon, adding a layer of mystery to TD’s decision to bail earlier this month on what would have been its biggest acquisition.
TD “works diligently to prevent criminals from using the bank for illegal activity, to strengthen its risk management programs on an ongoing basis, and to protect the interests of our customers, the bank, and the financial system,” spokesperson Elizabeth Goldenshtein said when asked to comment on the reports, which cited unnamed people familiar with the matter.
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![[Image: ?u=https%3A%2F%2Fmedia3.giphy.com%2Fmedi...ipo=images]](https://external-content.duckduckgo.com/iu/?u=https%3A%2F%2Fmedia3.giphy.com%2Fmedia%2FlPXbdhPuLa19ivNGwU%2Fgiphy.gif&f=1&nofb=1&ipt=e4fcc5cc0407f7541feea4734fd720e06d9890c3b816f6b0fee335f35b9895c7&ipo=images)
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| 05-13-2023 05:19 PM |
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First Horizon Bank Sold
