First Horizon, TD CEOs discuss ‘fantastic partnership’ at Positively Memphis luncheon
During Monday’s luncheon, both FHN and TD Bank N.A. CEOs stressed Memphis’ ongoing role in new institution’s operations.
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During Monday’s luncheon, both FHN and TD Bank N.A. CEOs stressed Memphis’ ongoing role in new institution’s operations.
The luncheon, which will be held at 11:30 a.m. at the Holiday Inn at the University of Memphis, will feature a conversation on TD’s acquisition of FHN.
Federal lawmakers sent a letter to the Office of the Comptroller of the Currency citing a report from investigative news outlet Capitol Forum that TD Bank wrongly pressured customers into opening accounts and using banking services they didn’t want.
The transaction is expected to close early next year.
After multiple mergers and acquisitions, TD Bank became the seventh-largest U.S. bank by deposits and the 11th largest bank in the U.S. by total assets.
In an updated proxy statement, FHN directs employees on answering client questions about the merger, including questions about its continued involvement in the region.
FHN president and CEO Bryan Jordan said in a statement released Tuesday that higher long-term rates and global uncertainty impacted operations. Jordan also said FHN is “well positioned” to benefit from rising short-term rates.
Total deposits in Memphis grew from $39.23 billion to $40.83 billion, according to the FDIC.
Losch has been with Memphis-based First Horizon for 12 years.
First Horizon’s stock will continue to trade under the same symbols.
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