First Horizon bank in default?

#1

walkenvol

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#1
Rumor floating around my neighborhood that First Horizon Bank has locked their doors. Anyone know anything about this? TIA
 
#4
#4
After hours trading doesn’t reflect that currently. They are being bought by TD Bank. I assume that’s still in play.

@BigOrangeMojo is a big fan and expert on their business operations.

First Horizon isn't well run but they don't have the issues of SIVB or Signature....TD has some buyer's remorse and I wouldn't be shocked if they pay the breakup fee or renegotiate....
 
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#5
#5
First Horizon isn't well run but they don't have the issues of SIVB or Signature....TD has some buyer's remorse and I wouldn't be shocked if they pay the breakup fee or renegotiate....
So you don’t think that they backed off because they Found Something?
 
#9
#9
From what I’ve been told/know TD is still aquiring First Horizon. One of the major holds ups has been regulatory approvals. There was a clause in the contract stating there would be an automatic extension to May 27 if the merger could not be completed before then. Granted the acquisition price may come down because FHN stock price has come down but the original price is still on the table.

I know TD has a lot riding on this merger with trying to open stores in more states that they don’t have a presence in. It will be really interesting to see what happens.

I wouldn’t be entirely shocked if it ended up falling through given the state of everything right now, but I still think the merger will happen.
 
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#11
#11
Some of that, to be fair, was SIVB fallout. But it was already over 17% off before that sh-t hit the fan...
Doesn't really matter why. The takeover price is too high compared to the current market value.
 
#14
#14
Any updates on this? I am planning on taking out a mortgage with First Horizon this summer.
I have 4-5 business accounts with them. They've been open and responsive to all my needs. I'm not aware of anything going on with them.
 
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#17
#17
This doesn't surprise me at all seeing as how First Horizon used to be First Tennessee and they were running some shady bank practices. I pulled my own account out of there over a decade ago and went to Home Federal and don't regret one thing about it.
 
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#19
#19
The good ole days when it was 1st Tn Bank.

Before that, Jake Butcher’s United American Bank.

Before that, Hamilton National Bank.

Holston-Union Bank before that.

Holston National Bank before that.

In Knoxville.

At least twice the predecessors to First Horizon built the tallest building in Knoxville.

The Holston

IMG_5795.jpeg
 

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