On a conference call Monday, Feb. 28, Toronto-Dominion group president and CEO Bharat Masrani announced plans to invest $150 million to keep First Horizon employees.

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First Horizon sold; deal expected to close in November

A Canadian banking and financial firm will pay $25 a share, a 37% premium on FHN’s last close. Shares of the Memphis-based financial institution were up nearly 32% in early trading.

Shelby County Mayor Lee Harris said the raises approved this month for 200 corrections center guards are being funded in part by fees the Justice Department is paying the county as it closes down a privately run federal prison. And he said more raises and bonuses are coming for others.

Wright Cox has taken over as the new president of BankTennessee, replacing Jim Rout who retired from the position on Friday.

By late February, First Horizon will have closed six Memphis-area IberiaBank branches and rebranded another. One of the closed properties, near Saddle Creek in Germantown, just sold for $3.75 million.

Opinion: Even Tom Selleck would agree it’s important to carefully consider all the pros and cons of a reverse mortgage.

The subsidiary of Louisiana-based wealth management company Argent Financial Group is moving its Memphis office to Ridgeway Center.

The financial services company will renew its lease on Poplar Avenue and move its headquarters to a 42,000-square-foot space nearby.

First Horizon reported $275 million earnings, 0.50 cents per share, adjusted for merger-related costs, in the third quarter of 2021.

Liberty Bank and Trust Company’s acquisition of Tri-State Bank of Memphis will bring a loan limits increase, more jobs and online banking technology to the bank.

“What a great time it is to be doing business in West Tennessee,” said Phillip Rogers with Stifel. 

Total deposits in Memphis grew from $39.23 billion to $40.83 billion, according to the FDIC. 

The Mid-South Minority Business Council Continuum also received a one-year Coronavirus Response and Relief Program grant to provide information and best practices to support minority firms affected by the COVID-19 pandemic.

The transaction is said to position Orion as “a fierce competitor” in the southeastern region.

Financial advisers say possible changes to the stepped-up basis on inherited property could impact wealth transfer more than other proposals being considered.

Memphis-based Planet Wealth considers itself ‘crowdfunding 2.0’ or wealth funding. “We want to empower the masses to go out and achieve financial independence,” Greg Sossaman, CEO of Planet Wealth, said.

Simmons would become the sixth largest bank in Memphis based on local deposits when the deal closes in the fourth quarter.

Some companies may have a short-term cash flow crunch that makes them vulnerable to deceptive lending practices.

First Horizon posted quarterly earnings of $0.58, beating Wall Street estimates.

Losch has been with Memphis-based First Horizon for 12 years.

FHN Financial will move its offices next May from one East Memphis office building to another.

First Horizon officials confirmed that it plans to close three Memphis branches and one in Southaven next month.

Renasant bankers brainstormed with LRK Architects to envision the kind of building that millennial employees and customers would want 20 years from now.

A Memphis native, Charles McVean is credited with conceiving and leading the charge for funding Big River Crossing, the pedestrian bridge and trails across the Mississippi River.

The transaction has been approved by both companies’ boards, but must still be approved by Tri-State shareholders and meet customary regulatory approvals.