First Tennessee Acquires 13 Branches In Middle And East Tennessee From Bank Of America

Thursday, May 29, 2014

First Tennessee Bank has agreed to purchase 13 branches and four remote ATMs from Bank of America. The banks expect the purchase of the branches in Middle and East Tennessee to close later this year following approval by regulators and satisfaction of customary closing conditions.

First Tennessee will add approximately $660 million of deposits at a deposit premium of 3.32 percent based on deposit balances near the time the transaction closes. First Tennessee is a subsidiary of First Horizon National Corp. (NYSE:FHN). 

Founded in 1864, First Tennessee is the country's 14th oldest national bank. "We are proud to have earned the trust and business of the people of Tennessee for 150 years, and we look forward to continuing that tradition in communities that are both new and familiar to us with this purchase," said Bryan Jordan, First Horizon's chairman and CEO. 

The branches are in communities in Middle and East Tennessee including Waverly, Columbia, Lawrenceburg, Lewisburg, Sparta, Rockwood, Greeneville, Kingston, Bristol, Johnson City and Kingsport. Some of the communities will be new for First Tennessee, which already has more than 170 financial centers in and around Tennessee. First Tennessee will hire all current branch employees when the purchase closes and take other steps to ensure smooth continuity of service for customers and these communities. In addition to the branches, First Tennessee will also acquire a small amount of loans as part of the transaction.


House Fire Linked To Kids Playing With Matches

Around  12:30  p.m. on Wednesday, Chattanooga firefighters were dispatched to a structure fire at 8143 E. Brainerd Road. Captain Skyler Phillips said smoke from the fire was visible from miles away as they raced to the scene from Station 21. Once on the scene, the firefighters encountered a carport engulfed in flames, with the fire rapidly spreading to the adjacent ... (click for more)

Man Shot 3 Times In His Car On East 26th Street

Jamarcus Davis told police that as he drove into the parking lot in the 2200 block of East 26 th Street, a driver in a Silver Dodge Durango opened fire into his vehicle. The victim was shot twice in the left leg and once in the right, officers said. The incident occurred at about 7 p.m. on Monday. After getting a description of both the vehicle and the driver, police ... (click for more)

A Disturbing Trend At Exit 11

So, am I the first to notice a trend?   How many wrecks does exit 11 need before anyone asks "whats up with that?"  I have lost count of the wrecks that continue to happen, even after last year's awful loss of life (which I believe 51 percent of the blame should fall on the THP officer on duty).  The problem with this section of interstate are sight lines ... (click for more)

Roy Exum: What You Leave Behind

Randy Travis, one of the best at singing country songs that has ever been, had a song about three people who got killed when an 18-wheeler missed a stop sign. There was a farmer and a teacher, a hooker and a preacher on this bus and Randy tells us: “One's headed for vacation, one for higher education, An' two of them were searchin' for lost souls.” In that wonderful song, the ... (click for more)

Hensley Succeeds Henry As Soddy-Daisy Athletic Director

Soddy-Daisy baseball coach Jared Hensley has added a new role to his duties. Hensley, who has coached the baseball Trojans for eight years with a 177-111 record and state tournament appearances in 2011 and 2015, is the school’s new athletic director. Hensley takes over for Steve Henry, now the school’s principal. “With coach Henry now the man in charge at our school,” ... (click for more)

Unbeaten Fairyland Clinches Red Division Swim Title

Members of the Calhoun swim team were set and ready to compete on the pool deck at the Fairyland Club Monday night, but they never got wet as the meet was postponed by lighting, thunder and the overall threat of stormy weather. They made the long trip back about 24 hours later and the second time around wasn’t nearly as productive as 21 less swimmers made the trip to the top ... (click for more)