Chattanooga's biggest bank will take on a new identity this fall when First Tennessee Bank adopts its corporate name of First Horizon to help unify all of the company's brand names.
First Horizon National Corp., announced Tuesday it will convert the name of First Tennessee in the Volunteer State and Capital Bank in North Carolina and Florida, along with FTB Advisors and FTN Financial across the country, under the First Horizon banner.
Bryan Jordan, the company's CEO, said the unification of First Horizon's banking, wealth management and fixed-income businesses under a common First Horizon brand represents an important step in the company's transformation strategy to expand beyond its Memphis roots.
"We have a 155-year legacy of transforming our business to meet our customers' needs and responding to changing environments," Jordan said in an announcement of the change. "Aligning our businesses under our First Horizon brand now represents much more than a name change. It represents our renewed brand promise. We understand that our customers have their own financial horizons and can rely on us to deliver on their individual needs and aspirations."
In Chattanooga, the new name will go up on 18 local branch offices which will convert to First Horizon Bank this fall.
"Our new brand unites all of our lines of business under the First Horizon brand, so whether you bank at Capital Bank in Key West or at First Tennessee on Market Street, you'll be banking with First Horizon," said Jay Dale, market president for First Tennessee Bank in Chattanooga. "Our unified brand brings clarity to the services we provide — from banking, to wealth management or fixed income."
First Tennessee entered the Chattanooga market more than four decades ago when it acquired the failed Hamilton National Bank, once the biggest bank in Chattanooga.
"Since 1973, First Tennessee has built our reputation here in Chattanooga by hearing, listening and understanding our customers," Dale said. "It's something we learned from First Horizon when they opened their doors in 1864."
With more than $24 billion of deposits in its home state, including nearly $2.4 billion in metropolitan Chattanooga, First Tennessee is the biggest bank in the state and in Chattanooga. First Horizon also became the fourth biggest bank holding company in the entire Southeast in 2017 when it bought the Charlotte, North Carolina-based Capital Bank Financial Corp. for $2.2 billion.
Last year, First Tennessee's Chattanooga president, Jeff Jackson, was named Florida market leader for Capital Bank following First Horizon's purchase of that bank the previous year.
The new name reflects the growing footprint of First Horizon and will help consolidate bank operations between the two banks, Jordan said.
"Our logo with the familiar Tenn Star has also been given a refreshed look with a new sense of energy, momentum and modernity while keeping our legacy red, white and blue color scheme," he said.
The name change won't require customers to alter any of their existing accounts or documents, Jordan said.
"Customers will not need to make changes to their accounts or automatic payments they have set up," he said. "Existing checks are still valid, though any new check orders will feature the new bank name."
First Horizon operates more than 250 bank locations across the Southeast and 29 FTN Financial offices across the United States. FTB Advisors wealth management group has more than 300 financial professionals and about $4.8 billion in assets under management.
Contact Dave Flessner at firstname.lastname@example.org or at 757-6340