First Horizon Acquires Capital Bank

First Horizon National Corp. and Capital Bank Financial Corp. will become the fourth largest regional bank in the Southeast with First Horizon’s acquisition of Capital Bank.

First Horizon operates 170 First Tennessee branches across Tennessee and the Southeast, and Capital Bank operates 193 branches in the Carolinas, Tennessee, Florida and Virginia. The merger accelerates First Horizon’s strategic plan to enhance its presence in fast-growing markets in the Southeast.

First Horizon has $30 billion in assets and Capital Bank has $10 billion in assets. The combined organization will have $32 billion in deposits, $27 billion in loans and 300-plus branches.

– Deneen Bloom, S&A Communications