First Horizon Bank continues to have the largest share of deposits in the Chattanooga region, holding more than $2.9 billion for the period ending June 30.
In the past year, the financial institution has slightly grown its share of the market in Chattanooga, according to 2024 data from the Federal Deposit Insurance Corporation. First Horizon’s deposits increased from almost $2.8 billion in 2023 to $2.94 billion in 2024. It now carries 19.5% of the almost $15.1 billion in total deposits held by 29 banks in the Chattanooga metropolitan statistical area. That’s down from 21% in 2022.
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In an email, First Horizon Market President Jay Dale said the bank is honored to remain No. 1 this year.
“Our bankers work very hard to provide excellent service to our customers and community day in and day out,” Dale said. “The Chattanooga economy remains strong, and indicative of that, it was good to see deposits grow again in 2024 after normalizing down last year after a stimulus money supply spike.”