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.


1 Killed In Early Morning Accident On Brainerd Road

A person was killed early Friday morning, in an accident on Brainerd Road. At approximately 3:14 a.m., Chattanooga Police responded to a single vehicle traffic crash at 3100 Brainerd Road. Investigators determined that the driver of the vehicle was traveling west on Brainerd Road when the vehicle struck the concrete exterior of the tunnels. The driver was unresponsive ... (click for more)

Catoosa County Arrest Report For Aug. 22-28

Here is the arrest report from Catoosa County for Aug. 22-28: Timothy Eddyjo Wilcox, 54, of 111 Lee Circle, Ringgold was arrested August 22 on charges of driving through gore/median, expired license, following too closely and leaving the scene of an accident. Charles Franklin Wheeler, 48, of 106 Spruce Street, Rossville was arrestd August 22 on charges of criminal trespass ... (click for more)

Thanks For Making The Southern Brewers Festival A Success

Now that the dust has settled I'd like to thank Chattanooga for supporting the Southern Brewers Festival and making it yet another very successful event.    For those who do not know - the SBF benefits the Chattanooga chapter of Kids on the Block and the Chattanooga Community Kitchen.  As a partner helping the SBF with volunteers, sponsorships and the overall production ... (click for more)

Roy Exum: Al Sharpton’s Wise Remarks

I’ll admit I paid little more than scant attention to the Monday funeral of Michael Brown, the 18-year-old who was shot and killed by police bullets in Ferguson, Mo., after he allegedly was involved in strong-armed robbery. There are too many tawdry details and, in my way of thinking, there is nothing under God’s sun, absolutely nothing, that gives others the right to riot, burn ... (click for more)

Central Michigan Comes From Behind To Beat UTC 20-16

Central Michigan quarterback Cooper Rush passed for 173 yards and two scores to lead the host Chippewas to a come-from-behind 20-16 win against Chattanooga Thursday night in Mt. Pleasant, Mich. UTC (0-1) led 16-0 in the second quarter only to have CMU score 20 straight points for the win in the season opener for both teams. "Our defense played well and played hard, but ... (click for more)

Santiago No-Hits Smokies

Starting pitcher Andres Santiago no-hit the Tennessee Smokies (32-34) to lead the Chattanooga Lookouts  (32-32)  to a 1-0 win and propel them into sole possession of first place for the first time this season.  The no-hitter was the Lookouts’ first since June 1, 1996 when Travis Buckley threw one against the Huntsville Stars. Santiago was lights out since the ... (click for more)