First Horizon National Corp. Completes Acquisition Of Capital Bank Financial Corp.

Friday, December 1, 2017

First Horizon National Corporation announced Friday that it completed its acquisition of Capital Bank Financial Corp. Effective Nov. 30, Capital Bank Financial merged into First Horizon, and its subsidiary, Capital Bank Corporation, merged into First Tennessee Bank National Association.  

The merger brings together two financial institutions under the First Horizon family of companies and creates the fourth largest regional bank in the Southeast with approximately $40 billion in assets, $32 billion in deposits, $27 billion in loans and 350 branches in Tennessee, North Carolina, South Carolina, Florida, Mississippi, Georgia, Texas and Virginia.  

“We are excited to complete the merger of First Horizon and Capital Bank Financial and expand the capabilities of our company,” said Bryan Jordan, chairman and CEO of First Horizon. “We are proud to merge the talented teams at First Tennessee and Capital Bank to create an even stronger regional bank that offers differentiated customer service and enhances our presence throughout our markets.”

First Horizon, which is headquartered in Memphis, will retain its First Tennessee Bank brand in Tennessee, where it has a 153-year history. Branches outside Tennessee market areas will use the Capital Bank name.  

“We’re excited about this opportunity to be a part of the region’s most respected family of financial institutions with a history of exemplary customer service,” said Gene Taylor, chairman and CEO of Capital Bank Financial. “There’s no doubt that the strength and talent of these combined organizations propels us forward and enhances our capacity to deliver sophisticated, high-touch financial service.” 

Mr. Taylor and Peter N. Foss, members of the Capital Bank Financial Board of Directors, have joined the First Horizon Board of Directors. Mr. Taylor also became vice chairman of First Horizon. 

Barclays Capital Inc. and Morgan Stanley & Co. LLC served as financial advisors to First Horizon, and Sullivan & Cromwell LLP served as First Horizon’s legal advisor. Sandler O’Neill + Partners L.P. and UBS Investment Bank served as financial advisors to Capital Bank Financial, and Wachtell, Lipton, Rosen & Katz served as Capital Bank Financial’s legal advisor.



Enrollment Period Announced For Monthly Payment Program For Bradley County Property Taxes

Bradley County Trustee Mike Smith has announced the enrollment periods for the 12-month payment program for property taxes. The program for the 2019 property taxes will have the first payment due on March 15, 2019. Enrollment for the monthly payment program is currently open through Dec 7. An additional enrollment period will be from Jan. 3, 2019, through Feb. 8, 2019. ... (click for more)

Tennessee September Revenues Exceeded Budgeted Estimates

Tennessee revenues exceeded budgeted estimates for September. Finance and Administration Commissioner Larry Martin Thursday reported that overall September revenues were $1.4 billion, which is $63.4 million more than September of last year and $53.3 million more than the budgeted estimate. The growth rate for September was 4.66 percent. "September sales tax receipts continue ... (click for more)

Chattanooga Police Investigating Shooting That Victim Says Happened A Week Ago

Chattanooga Police responded to a local hospital on Friday evening after a person arrived with a gunshot wound.   The injured man told police he was shot on Thursday, Oct. 11. He said he was shot while on the dance floor of a club somewhere along Brainerd Road.   If you have any information about the incident, call Chattanooga Police at 423-698-2525. You ... (click for more)

Charles Pipkens, Lajeromeney Brown Arrested In Series Of Violent Home Invasions In Which Robbers Posed As Police

Chattanooga Police have arrested Charles Dijon Pipkens and Lajeromeney Brown in connection with a series of violent home invasions in which the suspects told their victims they were Chattanooga Police officers.. Pipkens, 27, was charged in an Aug. 11 case and Brown, 40, in an incident on Sept. 19. Pipkens, of 434 N. Hickory St., is charged with two counts of aggravated kidnapping, ... (click for more)

Teach For America Raises Concerns

For the last several years, many groups, individuals and parties interested in preserving public education for our children have stood firm as a rampantly growing privatization movement has descended upon our local educational landscape.  We saw last year the Department of Education push a plan that would form a partnership zone which could potentially lead to schools in the ... (click for more)

Roy Exum: Inequality & The Left

The story is told about a liberal politician who was getting a room full of snowflakes all heated up over equity and equality, which is big with the political Left right now. One of his handlers finally got the chance and whispered in his ear, “Use ‘fairness’ instead! That’s what sells … “ Afterwards a newspaper column read, “The liberals love fairness because it cannot be measured. ... (click for more)