First Horizon next month plans to close four Memphis-area bank branches, including two of its three branches in Whitehaven.

“None of the folks at the branches will lose their jobs,” Bo Allen said Monday, June 28. He is First Horizon’s regional president for West Tennessee, Arkansas and North Mississippi.

Shared ATM network could be early benefit of First Horizon, Iberiabank merger

“All these folks, we will shift to another branch,” he said, adding that the transfers will bolster other branches that need more staffing.

Closing will be the First Horizon branches at (with closing dates in parenthesis): 2015 E. Brooks Rd. near Airways (July 20); 1249 E. Shelby, the drive-thru only facility outside the Southland Mall (July 15); Shelby Square Branch, 7080 E. Shelby Dr. off Riverdale (July 13); and the Snowden Grove branch at 3212 Goodman Rd., at Getwell, in DeSoto County (July 22).

First Horizon officials had said soon after last year’s merger with Iberiabank that about 75 of the 500 total branches across First Horizon’s 12-state region would likely be closed, Allen said.

Those 75 branches were picked for closure because of a drop in the number of transactions they process, or their proximity to former Iberiabank branches, Allen indicated.

Generally, mobile banking has lessened demand for brick-and-mortar branches.

The Snowden Grove branch operates in an economically strong district and has not been opened very long, “but we have our Southaven main office on Goodman and another branch nearby in Olive Branch that’s also on Goodman,” Allen said. “You’ve got three branches right there together. That was a hard decision because there’s a lot going on in that area.”

For Whitehaven, the closures come at a time when the community is trying to attract more investment, businesses and restaurants.

Renasant Bank designs a transparent Memphis headquarters

“It’s happening across the city,” Michael O. Harris said of the branch closings. “It’s not an intentional blow to the Whitehaven community,” said Harris, who is executive director of the Greater Whitehaven Economic Redevelopment Corp. (GWERC).

Harris said he talked on June 24 about the planned closings with Allen and Keith Turbett, the bank’s community development manager.

“I’m not a representative of First Horizon, but I do understand the merger with Iberiabank significantly increased the number of branches they had in their footprint,” Harris said. “And they are right-sizing.”

But Harris credited First Horizon’s support for Whitehaven over the years.

“First Horizon does a lot of support in the community and they have planned things to do with those properties,” Harris said, referring to the soon-to-be-vacant bank branches.

Simmons strikes ‘Landmark’ deals for two area banks

“First Horizon does a lot of foundational support for organizations in Whitehaven,” Harris said. “They do a lot to support the people of Whitehaven. They are looking forward to helping with some new programming to bring online residential development opportunities.”

Harris said he is to meet in the next few weeks with Turbett “to talk about options to bring to Whitehaven,” adding, “I can’t say it’s all bad.”

Still, the Whitehaven residents hurt most by the closings will be seniors, Harris said.

“This is going to hurt our aging population that doesn’t want to have to go sit in a longer line” at the one remaining and larger branch, 4180 Elvis Presley at Marlin, Harris said.

Tri-State Bank to be acquired by New Orleans banking company

Many of the elderly customers may not feel comfortable using mobile banking, he said.

But Harris added, “I don’t think this necessarily cripples our ability to revitalize and grow.

First Horizon now operates 36 bank branches in the Memphis market, including in Orange Mound, Frayser and Raleigh, Allen said.