First Tennessee, Capital Bank to be rebranded as First Horizon
Two years after a big out-of-state acquisition, First Horizon National in Memphis, Tenn., will rebrand First Tennessee Bank and its other companies.
The $41 billion-asset holding company this fall will fold First Tennessee Bank and its recently acquired Capital Bank under the First Horizon Bank name. Its wealth management group FTB Advisors will be renamed First Horizon Advisors. Its fixed-income and trading company FTN Financial will become FHN Financial.
First Horizon is starting an advertising campaign to push the rebranding, which was announced Tuesday afternoon.
First Horizon's chief digital banking and marketing officer, Dawn Morris, said it preserved the status quo during a transitional period after buying Capital Bank but decided it was time to switch to a universal name that avoids any geographic constrictions and leaves growing room for future deals.
“We’ve always known we would be moving toward a unified brand,” Morris said.
The bank is expected to release new digital and deposit products this fall to go with the rebrand, Morris said.
First Horizon in November 2017 bought Capital Bank Financial in Charlotte, N.C., for $2.2 billion. The acquisition, its largest ever, expanded its operations to eight states. At the time, First Horizon said it would keep First Tennessee Bank’s brand within its home state and use the Capital Bank name in the other areas.