First Horizon Bank Completes Merger With Iberia Bank

Thursday, July 2, 2020

First Horizon National Corp. announced completion of their previously announced all-stock merger of equals with Iberia Bank.

The combined company, with $79 billion in assets, $60 billion in deposits and $58 billion in
loans as of March 31, 2020, will be headquartered in Memphis and operate under the
First Horizon name.

“The completion of this merger marks a significant milestone for our clients, associates,
shareholders and communities,” said Bryan Jordan, president and CEO of First Horizon. “The
combined company’s enhanced scale, diversified business model and expertise in financial
services uniquely position us to better serve our clients and communities, accelerate our growth
and create long-term shareholder value.”

Daryl G. Byrd, executive chairman of the board of First Horizon, commented, “This
extraordinary combination reflects hard work, dedication and collaboration across the platforms
as we work to build a premier southern-based bank. With the incredible legacies of both
organizations as our foundation, we plan to combine the best of both companies to position us
for success in this rapidly evolving world.

“Clients can count on us to keep them informed and prepared. Ensuring
that the transition and conversion are as seamless as possible is a top priority.”

Clients will continue to be served through their respective First Horizon or Iberia Bank branches, websites, mobile apps, financial advisors and relationship managers until systems are
integrated. Iberia Bank will adopt the First Horizon name following operating systems
conversion, which is expected to occur in mid-2021. For convenience, clients can continue to use
the full ATM network of both banks for cash withdrawals at no charge. As the various systems
of each bank are integrated and converted over the next year or so, affected clients will be
notified of the changes.

The Executive Leadership team is comprised of members from both companies, including:
 Terry Akins, Chief Risk Officer
 Beth Ardoin, Chief Communications Officer
 Michael Brown, President, Regional Banking
 Daryl Byrd, Executive Chairman of the Board
 Bryan Jordan, President and Chief Executive Officer
 Tammy LoCascio, Chief Human Resources Officer
 William C. Losch, III, Chief Financial Officer
 David Popwell, President, Specialty Banking
 Anthony Restel, Chief Operating Officer
 Susan Springfield, Chief Credit Officer
 Vernon H. Stafford, Jr., Chief Audit Executive


The combined company’s Board of Directors consists of 17 members with nine directors from
First Horizon and eight directors from Iberia Bank, including:
 Harry V. Barton, Jr.
 Kenneth A. Burdick
 Daryl G. Byrd (Executive Chairman of the Board)
 John N. Casbon
 John C. Compton
 Wendy P. Davidson
 William H. Fenstermaker
 D. Bryan Jordan
 J. Michael Kemp, Sr.
 Rick E. Maples
 Vicki R. Palmer
 Colin V. Reed (Lead Director)
 E. Stewart Shea, III
 Cecelia D. Stewart
 Rajesh Subramaniam
 Rosa Sugrañes
 R. Eugene Taylor

Under the terms of the merger agreement, Iberia Bank shareholders received 4.584 shares of
First Horizon for each share they own. Approximately 56% of the combined
company is held by legacy First Horizon shareholders with approximately 44% held by legacy
Iberia Bank shareholders.

Shares of Iberia Bank ceased trading before the opening of the NASDAQ stock market on
July 2, 2020. The combined company’s common shares will trade on the New York Stock
Exchange under ticker symbol “FHN,” and depositary shares representing interests in First
Horizon Series B, C and D preferred shares will trade on the New York Stock Exchange under
the ticker symbols “FHN PR B,” “FHN PR C” and “FHN PR D,” respectively.


GDOL Addresses Outstanding Claims

Net Income Down Over 42 Percent At Miller Industries

SelecTrucks Opens New Used-Truck Center In Ringgold


The Georgia Department of Labor has recently been asked why not all initial unemployment insurance claims from the middle of March have not been paid. Officials said 92 percent of all valid claims ... (click for more)

CHATTANOOGA, Tenn. , Aug. 5, 2020 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the second quarter ended ... (click for more)

Monday marked the opening of SelecTrucks’ newest location, SelecTrucks of Chattanooga. This location is the third SelecTrucks center to open this year and the 29th store in the company’s network. ... (click for more)



Business

GDOL Addresses Outstanding Claims

The Georgia Department of Labor has recently been asked why not all initial unemployment insurance claims from the middle of March have not been paid. Officials said 92 percent of all valid claims have received benefits in the past 19 weeks where a payment has been requested, but many of the others are not eligible for payment per state and federal law. Over 135,000 claims have ... (click for more)

Net Income Down Over 42 Percent At Miller Industries

CHATTANOOGA, Tenn. , Aug. 5, 2020 /PRNewswire/ -- Miller Industries, Inc. (NYSE: MLR) (the "Company") today announced financial results for the second quarter ended June 30, 2020 ." style="margin-top: 0px; margin-bottom: 1em;">Miller Industries, Inc. announced financial results for the second quarter ended June 30, including a 42.2 percent drop in net ... (click for more)

Breaking News

Rhonda Thurman, Marco Perez Winning In Early School Board Returns

Veteran Rhonda Thurman and newcomer Marco Perez were ahead in early School Board returns. In District 1, Ms. Thurman was ahead of Stephen Vickers. Rhonda Thurman 1,347 Stephen Vickers 1,888 Mr. Perez had a substantial lead over Tom Decosimo for the District 2 seat being vacated by Kathy Lennon. Marco Perez 2,517 Tom Decosimo 1,666 (click for more)

Hagerty Has Slight Advantage Over Manny Sethi In Hamilton County In Early U.S. Senate Returns; Bradshaw Winning For Democrats

Bill Hagerty, the pick of President Donald Trump, was slightly ahead of Dr. Manny Sethi in early returns of the Republican U.S. Senate race. Statewide, Mr. Hagerty was ahead by about 20,000 votes. Marquita Bradshaw had a lead over veteran James Mackler in the Democratic primary in Hamilton County. The seat was being vacated by Senator Lamar Alexander. Republican Bill ... (click for more)

Opinion

Busloads Of COVID-19 Headed This Way - And Response

Peaceful protests are a constitutional right of all Americans under normal conditions. These are not normal conditions. Atlanta is a major "hot spot" of new cases and total cases of the virus. So forgive me for saying this, but Atlantans, STAY HOME! Busloads with an estimated total of 500 protestors are probably bringing coronavirus to Miller Plaza Friday night at 6:30 in ... (click for more)

Roy Exum: We’re Out Of ‘Touch’

I’ve been a “people person” for all of my life and not until this past weekend did I become aware I have been suffering badly due to “lack of touch.” A lifelong friend passed along a Daily Devotional where a gifted pastor in Massachusetts mourned the fact that – get this – she had been touched by another human being only four times in the last four months. As I paused to dwell on ... (click for more)