|Bid||0.00 x 800|
|Ask||0.00 x 800|
|Day's range||42.34 - 46.21|
|52-week range||25.65 - 79.29|
|Beta (5Y monthly)||N/A|
|PE ratio (TTM)||7.43|
|Earnings date||17 Oct 2019 - 21 Oct 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||75.10|
First Horizon's (FHN) all-stock merger of equals with IBERIABANK reflects the companies' impressive business-expansion efforts into the Southern market.
First Horizon National Corp. ("First Horizon") (FHN) and IBERIABANK Corporation ("IBERIABANK") (IBKC) today announced completion of their previously announced all-stock merger of equals. 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, Tennessee 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.
First Horizon National (NYSE: FHN), the holding company for First Horizon Bank, got approval from the Federal Reserve Board to acquire IberiaBank (NASDAQ: IBKC). When the deal officially closes on July 1, the combined bank will have about $75 billion in assets – including $43 billion from First Horizon Bank and $32 billion from IberiaBank. Memphis-based First Horizon has roughly 270 branches in Tennessee, Florida, Texas, South Carolina, and North Carolina, while IberiaBank, based in Lafayette, Louisiana, has 190 branches in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York.