We caution that the foregoing list of important factors that may affect future results is not exhaustive. To listen to the live call, please dial 1-877-879-1183 and enter the participant code 9174896. ", IBERIABANK President and CEO Daryl Byrd said, "This merger of equals represents an exciting next chapter for both companies. Additional, and more general, factors that could cause results to differ materially from those contemplated by forward-looking statements can be found in First Horizon's Annual Report on Form 10-K for the year ended December 31, 2019, and in its quarterly report on Form 10-Q for the period ended March 31, 2020, both filed with the SEC and available in the "Investor Relations" section of First Horizon's website, http://www.FirstHorizon.com, under the heading "SEC Filings," and in other documents First Horizon has filed with the SEC, including its registration statement on Form S-4 (reg. Information regarding First Horizon's directors and executive officers is available in its definitive proxy statement, which was filed with the SEC on March 11, 2019, and certain of its Current Reports on Form 8-K. Information regarding IBERIABANK's directors and executive officers is available in its definitive proxy statement, which was filed with SEC on March 28, 2019, and certain of its Current Reports on Form 8-K. Other information regarding the participants in the solicitation of proxies in respect of the proposed transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the joint proxy statement/prospectus and other relevant materials to be filed with the SEC. 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. Under the terms of the merger agreement, IberiaBank shareholders will receive 4.584 shares of First Horizon for each IberiaBank share they own. ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced completion of their previously announced all-stock merger of equals. IBERIABANK and Tennessee-based First Horizon National Corporation announced a merger Monday, a move that will shift the 132-year-old Louisiana bank's headquarters to Memphis as a … First Horizon National Corp. ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced completion of their previously announced all-stock merger of equals. The banking subsidiary was founded in 1864 and has the largest deposit market share in Tennessee. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon and IBERIABANK, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. The combined company's regional banking headquarters will be located in New Orleans, La. Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. Upon closing of the transaction, the Board of Directors will consist of nine directors from First Horizon and eight directors from IBERIABANK. Separately, we are both formidable organizations with strong track records, great businesses and talented bankers. Shares in First Horizon rose 4.7% to $10.79 in Tuesday’s pre-market trading. First Horizon is recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. bank. Bryan Jordan, First … Forward-looking statements are not a representation of historical information, but instead pertain to future operations, strategies, financial results or other developments. Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, the combined holding company and bank will operate under the First Horizon name and will be headquartered in Memphis, Tenn. Once the transaction is completed, the combined company will be one of the largest financial services companies headquartered in the South and one of the top 25 banks in the U.S. in deposits. The companies will make the announcement during a press conference today, from 5 p.m. to 5:30 p.m., at IBERIABANK (601 Poydras St., 20th … The words "believe," "expect," "anticipate," "intend," "estimate," "should," "is likely," "will," "going forward" and other expressions that indicate future events and trends identify forward-looking statements. Bryan Jordan, Chairman and CEO of First Horizon, said, "Our merger of equals with IBERIABANK is an exciting milestone and the logical next step in the continued successful transformation of our company. Earnings of First Horizon … First Horizon and IBERIABANK will conduct a live conference call to discuss the transaction at 8:30 a.m. Central Time today. Morgan Stanley & Co. LLC is serving as financial advisor and Sullivan & Cromwell LLP is serving as legal counsel to First Horizon. First Horizon National Corp. ("First Horizon") (FHN) and IBERIABANK Corporation ("IBERIABANK") (IBKC) today announced completion of their previously announced all-stock merger of … Under the terms of the merger agreement, IBERIABANK shareholders will receive 4.584 shares of First Horizon for each IBERIABANK share they own. Presentation slides will be available on both the First Horizon website (www.firsthorizon.com) and the IBERIABANK website (www.iberiabank.com). The merger "creates a real southern powerhouse," First Horizon CEO Bryan Jordan said. "Ensuring that the transition and conversion are as seamless as possible is a top priority.". Additionally, IBERIABANK shareholders will receive a 43% increase in their dividend after consummation of the transaction, based upon each company's current dividend per share. More information is available at www.FirstHorizon.com. The company operates approximately 270 bank locations across the Southeast U.S. and 29 FHN Financial offices across the entire U.S. FHN Advisors wealth management group has more than 300 financial professionals and about $4.8 billion in assets under management. With more than 288 years of combined First Horizon Bank and IBERIABANK financial experience, the Company and its subsidiaries offer commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, capital markets, fixed income, mortgage, and title insurance services. The combined company's common shares will trade on the New York Stock Exchange under ticker symbol "FHN," and depositary shares representing interests in First Horizon Series B, C and D preferred shares will trade on the New York Stock Exchange under the ticker symbols "FHN PR B," "FHN PR C" and "FHN PR D," respectively. The Company's common stock market capitalization was approximately $3.9 billion, based on the closing stock price on November 1, 2019. The First Horizon and IberiaBank merger just cleared its final hurdle. Forward-looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, operational, economic and competitive uncertainties and contingencies, many of which are beyond the control of First Horizon, and many of which, with respect to future business decisions and actions, are subject to change and which could cause actual results to differ materially from those contemplated or implied by forward-looking statements or historical performance. ", "Clients can count on us to keep them informed and prepared," Jordan commented. ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced completion of their previously announced all-stock merger of equals. 2.7 MB. As the various systems of each bank are integrated and converted over the next year or so, affected clients will be notified of the changes. The transaction will create a $80.3 billion … More. In connection with the proposed transaction, First Horizon will file with the SEC a registration statement on Form S-4 to register the shares of First Horizon's capital stock to be issued in connection with the proposed transaction. ", New Company Governance and Leadership Team. A bigger bank means a bigger coffer to invest in technology, said Bryan Jordan, CEO of Tenn.-based First Horizon National, in the process of buying … The confirmation code for the replay is 10136743. Download Adobe Acrobat Reader, First Horizon National Corporation and IBERIABANK Corporation to Combine in Merger of Equals to Create a Leading Regional Financial Services Company, - Creates a leading regional financial services company with significant scale at $75 billion in assets, - Combination to be strongly accretive to EPS, - Significant synergies anticipated to drive value creation and enhanced financial performance, - Pro forma company expected to have peer leading profitability metrics, - Proven strong credit culture and risk management practices, - Aligned relationship-oriented cultures committed to creating a great place to work for employees, - Expansive 11-state reach in high-growth, attractive markets across the combined footprint, - Broadens business mix, creating a strong core deposit franchise, diversified loan portfolio and differentiated revenue streams, - Scale and earnings power to invest in advanced technologies and innovation to deliver an extraordinary client experience, - Experienced combined management team with a strong history of successfully executing and integrating transformative transactions, For further information: FIRST HORIZON CONTACT: First Horizon Investor Relations, Aarti Bowman, (901) 523-4017 OR First Horizon Media Relations, Silvia Alvarez, (901) 523-4465 OR IBERIABANK CONTACT: IBERIABANK Investor Relations, Jefferson G. Parker, (504) 310-7314 OR IBERIABANK Director of Communications, Beth Ardoin, (337) 278-6868, Return on Average Tangible Common Equity of approximately 18%, Return on Average Assets of approximately 1.4%, and. Shares of IBERIABANK ceased trading before the opening of the NASDAQ stock market on July 2, 2020. October 2019 Friday, October 18, 2019. Copies of the registration statement, including the joint proxy statement/prospectus, and the filings with the SEC that will be incorporated by reference in the joint proxy statement/prospectus can also be obtained, without charge, by directing a request to Clyde A. Billings Jr., First Horizon, 165 Madison Ave, Memphis, TN 38103, telephone (901) 523-5679, or Jefferson G. Parker, IBERIABANK, 200 West Congress Street, Lafayette, LA 70501, telephone (504) 310-7314. ", Daryl G. Byrd, Executive Chairman of the Board of First Horizon, commented, "This extraordinary combination reflects hard work, dedication and collaboration across the platforms as we work to build a premier southern-based bank. Under the terms of the merger agreement, IberiaBank shareholders received 4.584 shares of First Horizon for each IberiaBank share they own. Keefe, Bruyette & Woods and Goldman Sachs are serving as financial advisors and Simpson Thacher & Bartlett LLP is serving as legal counsel to IBERIABANK. Approximately 56% of … First Horizon said it generated $14 million in merger-related savings during the fourth quarter —$56 million on an annualized basis — and it expects that figure to steadily increase until it reaches the $200 million target as soon as the first half of 2022. 904 KB. Under the terms of the merger agreement, IBERIABANK shareholders received 4.584 shares of First Horizon for each IBERIABANK share they own. 333-235757) and filings related to that registration statement. Separately, we are both formidable organizations with strong track records, great businesses and talented bankers. This communication does not constitute an offer to sell or a solicitation of an offer to buy any securities or a solicitation of any vote or approval. Approximately 56% of the combined company is held by legacy First Horizon shareholders with approximately 44% held by legacy IBERIABANK shareholders. First Horizon cautions that the foregoing list of important factors that may affect future results is not exhaustive. For convenience, clients can continue to use the full ATM network of both banks for cash withdrawals at no charge. Together, First Horizon and IBERIABANK will create a powerful new company driven by our shared commitment to our customers, communities, shareholders and the employees we serve. First Horizon will absorb Iberiabank, tripling in size compared to a decade ago and making it an attractive possible purchase for a larger bank. First Horizon National Corporation and IBERIABANK Corporation are combining in a transaction that is expected to create one of the largest financial services institutions in the southern United States. 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. First Horizon’s planned merger with IBERIABANK has received full regulatory approval from the Federal Reserve Board, the two companies announced last week. The two companies announced today (Nov. 4) that they have entered into an agreement to combine in an “all-stock merger of equals.” IBERIABANK will adopt the First Horizon name following operating systems conversion, which is expected to occur in mid-2021. More. 1020 KB. The combined company will be led by a balanced board and executive leadership team composed of members from both First Horizon and IBERIABANK. The combined company will be headquartered in Memphis, Tenn., and will maintain a significant operating presence in all of the markets in which both companies operate today. The new company will be led by Daryl G. Byrd as Executive Chairman of the Board of Directors and D. Bryan Jordan as Chief Executive Officer. Jul 2, 2020, 2:44pm EDT First Horizon National Corp. and IberiaBank Corp. announced the completion of their merger on Thursday. Clients will continue to be served through their respective First Horizon or IBERIABANK branches, websites, mobile apps, financial advisors and relationship managers until systems are integrated. The registration statement will include a joint proxy statement of First Horizon and IBERIABANK which will be sent to the shareholders of First Horizon and IBERIABANK seeking their approval of the proposed transaction. Collectively, the two companies have committed $10 billion to community benefit plans to increase access to financial resources and support for low and moderate income communities in the South. 2Q19 Earnings Conference Call PowerPoint Presentation. The year-end target price suggests a high upside. — First Horizon National Corp. (First Horizon) and IBERIABANK Corporation (IBERIABANK) today announced that they have entered into a definitive agreement where the companies will combine in an all-stock merger of equals. The merger combines two complementary franchises that are uniquely positioned to capitalize on market opportunities and increase their client base through greater scale, strategic investments in advanced technologies and expanded product offerings. MEMPHIS, Tenn. and LAFAYETTE, La., July 2, 2020 /PRNewswire/ -- First Horizon National Corp. ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced completion of their previously announced all-stock merger of equals. Headquartered in Memphis, TN, the banking subsidiary First Horizon Bank operates approximately 460 bank locations in 11 states across the Southeast. Both companies' longstanding commitments to serve their communities will remain central to the combined organization's future. Investors and shareholders will be able to obtain a free copy of the registration statement, including the joint proxy statement/prospectus, as well as other relevant documents filed with the SEC containing information about First Horizon and IBERIABANK, without charge, at the SEC's website (http://www.sec.gov). ("First Horizon") (NYSE: FHN) and IBERIABANK Corporation ("IBERIABANK") (NASDAQ: IBKC) today announced completion of their previously announced all-stock merger of equals. IBERIABANK and First Horizon Merger Presentation. Memphis-based First Horizon National Corp. and Louisiana-based IberiaBank … First Horizon shareholders will own 56% and IBERIABANK shareholders will own 44% of the combined company. FHN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. … July 2019 Friday, July 19, 2019. Our combined new scale, deep experience in financial services and diverse business mix in the South uniquely position us to accelerate our growth and create lasting shareholder value. The combined bank will continue its investments in these and other important initiatives in the communities in which it operates. The merger is expected to close in the second quarter of 2020, subject to satisfaction of customary closing conditions, including receipt of customary regulatory approvals and approval by the shareholders of each company. With the incredible legacies of both organizations as our foundation, we plan to combine the best of both companies to position us for success in this rapidly evolving world. Additional factors that could cause results to differ materially from those contemplated by forward-looking statements can be found in First Horizon's Annual Report on Form 10-K for the year ended December 31, 2018, and in its subsequent Quarterly Reports on Form 10-Q filed with the SEC and available in the "Investor Relations" section of First Horizon's website, http://www.firsthorizon.com, under the heading "SEC Filings" and in other documents First Horizon files with the SEC, and in IBERIABANK's Annual Report on Form 10-K for the year ended December 31, 2018, and in its subsequent Quarterly Reports on Form 10-Q filed with the SEC and available in the "Investor Relations" section of IBERIABANK's website, www.iberiabank.com, under the heading "Financials & Filings" and in other documents IBERIABANK files with the SEC. The company is recognized as one of the nation's best employers by Fortune and Forbes magazines and a Top 10 Most Reputable U.S. bank. The Company's Series B Preferred Stock, Series C Preferred Stock, and Series D Preferred Stock also trade on the NASDAQ Global Select Market under the symbols "IBKCP", "IBKCO", and "IBKCN", respectively. Download Adobe Acrobat Reader, First Horizon National Corporation and IBERIABANK Corporation Complete Merger of Equals, For further information: Investor Relations, Ellen Taylor (901) 523-4450, Investor Relations, Aarti Bowman, (901) 523-4017 or Media Relations, Silvia Alvarez, (901) 523-4465. About First HorizonFirst Horizon National Corp. (NYSE:FHN), with $79 billion in assets, is a leading regional financial services company, dedicated to strengthening the lives of our associates, clients, shareholders, and communities. We chose a partner who values deep relationships and is culturally aligned with our core mission, which is to create a great place to work for employees, deliver extraordinary, value-based client service, meet the expectations of our shareholders and invest in the communities we serve. First Horizon in Memphis, Tenn., is getting more aggressive cutting costs tied to its merger with Iberiabank, reflecting systemic shifts that have taken place The combined organization will have $75 billion in assets, $57 billion in deposits and $55 billion in loans. IberiaBank CEO Daryl Byrd, who has become executive chairman of First Horizon's board with the merger, could take home more than 10 times the value of his annual base salary in cash — $14 million. By joining forces with First Horizon, we will create an organization that has the resources to invest in advanced technologies and expand lending capacity and product offerings for our combined clients. It is also worth noting that the newly merged First Horizon Bank will keep IberiaBank’s 136,000-square-foot building after the merger is finished at the end of the second quarter of 2020. The deal will see IBERIABANK branches rebranded as First Horizon as of next year, according to the announcements, after the two banks’ back office operating systems have been combined. IBERIABANK Corporation is a financial holding company with locations in Louisiana, Arkansas, Tennessee, Alabama, Texas, Florida, Georgia, South Carolina, North Carolina, Mississippi, Missouri, and New York offering commercial, private banking, consumer, small business, wealth and trust management, retail brokerage, mortgage, and title insurance services. The IBERIABANK merger drove loan growth in 3Q. Free copies of these documents, when available, may be obtained as described in the preceding paragraph. First Horizon National Corp. (NYSE:FHN) provides financial services through First Horizon Bank, First Horizon Advisors, and FHN Financial businesses. "The combined company's enhanced scale, diversified business model and expertise in financial services uniquely position us to better serve our clients and communities, accelerate our growth and create long-term shareholder value. IBERIABANK and First Horizon Merger Presentation The Company's common stock trades on the NASDAQ Global Select Market under the symbol "IBKC". COPYRIGHT © 2021 - ALL RIGHTS RESERVED Examples of uncertainties and contingencies include factors previously disclosed in First Horizon's and IBERIABANK's respective reports filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the following factors, among others: the occurrence of any event, change or other circumstances that could give rise to the right of one or both of the parties to terminate the definitive merger agreement between First Horizon and IBERIABANK; the outcome of any legal proceedings that may be instituted against First Horizon or IBERIABANK; the possibility that the proposed transaction will not close when expected or at all because required regulatory, shareholder or other approvals are not received or other conditions to the closing are not satisfied on a timely basis or at all, or are obtained subject to conditions that are not anticipated; the risk that any announcements relating to the proposed combination could have adverse effects on the market price of the common stock of either or both parties to the combination; the possibility that the anticipated benefits of the transaction will not be realized when expected or at all, including as a result of the impact of, or problems arising from, the integration of the two companies or as a result of the strength of the economy and competitive factors in the areas where First Horizon and IBERIABANK do business; certain restrictions during the pendency of the merger that may impact the parties' ability to pursue certain business opportunities or strategic transactions; the possibility that the transaction may be more expensive to complete than anticipated, including as a result of unexpected factors or events; diversion of management's attention from ongoing business operations and opportunities; potential adverse reactions or changes to business or employee relationships, including those resulting from the announcement or completion of the transaction; First Horizon and IBERIABANK success in executing their respective business plans and strategies and managing the risks involved in the foregoing; the dilution caused by First Horizon's issuance of additional shares of its capital stock in connection with the proposed transaction; and other factors that may affect future results of First Horizon and IBERIABANK. IBERIABANK and First Horizon Merger Presentation. Bryan Jordan, Chairman and CEO of First Horizon, said, "Our merger of equals with IBERIABANK is an exciting milestone and the logical next step in the continued successful transformation of our company. On November 3, 2019, First Horizon National Corporation (“First Horizon”) and IBERIABANK Corporation (“IBKC”) entered into an Agreement and Plan of Merger (as amended from time to time, the “merger agreement”), pursuant to which First Horizon and IBKC have agreed to combine their respective businesses in a merger of equals. "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. Forward Looking Statements This communication contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21 E of the Securities Exchange Act of 1934, as amended, (the "Exchange Act") with respect to First Horizon's beliefs, plans, goals, expectations, and estimates. First Horizon, IBERIABANK and certain of their respective directors, executive officers and employees may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction under the rules of the SEC. Our partnership will leverage our best-in-class workforce and build on and complement the well-established strong foundations of both organizations. First Horizon National Corp. and IBERIABANK Corporation on Monday announced receipt of regulatory approval from the Board of Governors of … More information is available at www.FirstHorizon.com, COPYRIGHT © 2021 - ALL RIGHTS RESERVED Further, FHN is offering a decent dividend yield. Executive LeadershipThe Executive Leadership team is comprised of members from both companies, including: Board of Directors The combined company's Board of Directors consists of 17 members with nine directors from First Horizon and eight directors from IBERIABANK, including: Under the terms of the merger agreement, IBERIABANK shareholders received 4.584 shares of First Horizon for each IBERIABANK share they own. Examples of uncertainties and contingencies include factors previously disclosed in First Horizon's reports filed with the U.S. Securities and Exchange Commission (the "SEC"), as well as the following factors, among others: the outcome of any legal proceedings that may be instituted against First Horizon; First Horizon's success in executing its business plans and strategies and managing the risks involved in its merger with IBERIABANK; the potential impacts on First Horizon's businesses of the coronavirus COVID-19 pandemic, including negative impacts from quarantines, market declines and volatility, and changes in customer behavior related to COVID-19; and other factors that may affect future results of First Horizon.