This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

First Tennessee Acquires Mountain National From FDIC

MEMPHIS, Tenn., June 7, 2013 (GLOBE NEWSWIRE) -- On June 7, 2013, First Tennessee Bank National Association acquired substantially all of the assets and assumed substantially all of the deposits of Mountain National Bank of Sevierville, Tennessee, from the Federal Deposit Insurance Corporation, as receiver. First Tennessee is the regional banking group of First Horizon National Corporation (NYSE:FHN), which has approximately $25 billion in assets. At March 31, 2013, Mountain National Bank reported approximately $437 million of assets and approximately $373 million of deposits.

The 12 branches of Mountain National, which are located in Sevier and Blount Counties in East Tennessee, will open Monday as First Tennessee financial centers. Mountain National customers are automatically First Tennessee customers. As the Mountain National systems are integrated into First Tennessee's over the next few months, customers are encouraged to continue conducting their banking business as usual through branches and online. Mountain National customers can continue to use any First Tennessee ATM at no charge.

"With the acquisition of Mountain National, we're proud to expand in Tennessee, where we've earned one of the highest customer retention rates of any bank in the country," said Bryan Jordan, First Horizon's chairman, president and CEO. "We'll maintain our commitment to our communities and long-term profitability through outstanding employees supported by market-leading technology. We look forward to welcoming our new customers and new employees to First Tennessee." 

Customers will be mailed letters next week welcoming them to First Tennessee and providing more information to help them through the transition.    

About First Horizon

The 4,300 employees of First Horizon National Corp. (NYSE:FHN) provide financial services through more than 170 bank locations in and around Tennessee and 21 FTN Financial Group offices in the U.S. and abroad. First Tennessee Bank has the leading combined market deposit share in the counties where it does business and one of the highest customer retention rates of any bank in the country. FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. FHN has been recognized as one of the nation's best employers by AARP and Working Mother magazines. More information is available at www.fhnc.com .

FHN-G
CONTACT: Jack Bradley, Media Relations, (901)523-4813
         Aarti Bowman, Investor Relations, (901)523-4017
         Pam Fansler, East Tennessee banking president, (865)971-2723
         Greg Wilson, Maryville banking president, (865)977-5300

First Horizon Logo

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,630.27 +189.68 1.09%
S&P 500 2,093.25 +25.61 1.24%
NASDAQ 5,089.2060 +49.43 0.98%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs