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re: IberiaBank to merge into First Horizon moving HQ to Memphis
Posted on 11/4/19 at 10:04 am to dewster
Posted on 11/4/19 at 10:04 am to dewster
quote:
Memphis has some issues, but I would seriously put East Memphis, Germantown, Collierville, or even Olive Branch up against the best communities in Louisiana. Those are nice, safe areas with excellent public/private schools, good infrastructure, good job market, solid health care options, gorgeous neighborhoods, and friendly people. The costs of living is very reasonable too.
This!!! Not to mention the fact that there are more Fortune 500 companies in Memphis alone than the entire state of Louisiana.
1
Posted on 11/4/19 at 10:07 am to Burlee
quote:
This!!! Not to mention the fact that there are more Fortune 500 companies in Memphis alone than the entire state of Louisiana.
But New Orleans has a prettier airport than Memphis although accessing the Memphis airport is easier.
Posted on 11/4/19 at 10:08 am to jchamil
quote:
It's First Tennessee, First Horizon is the parent
Nope. They are changing the name to First Horizon.
Posted on 11/4/19 at 10:10 am to MrLSU
quote:
How many publicly traded companies are left in Louisiana after this?
A bunch.
Posted on 11/4/19 at 10:10 am to SSpaniel
Yeah I don’t think First Tennessee would fly in Louisiana
Wonder what they gonna do with the tower in Laffy
Wonder what they gonna do with the tower in Laffy
Posted on 11/4/19 at 10:10 am to MrLSU
quote:
But New Orleans has a prettier airport than Memphis although accessing the Memphis airport is easier.
was in the MEM airport a couple of months ago after not having been there in a long time, they have changed almost nothing since the 80s
Posted on 11/4/19 at 10:10 am to MrLSU
So they are now New Iberia bank?
Posted on 11/4/19 at 10:13 am to SSpaniel
Correct they are also going to change the First Tennessee and Capital Bank names to First Horizon as well with the acquisition of IberiaBank.
This bank just became the powerhouse bank for the Carolinas and Florida and that is where their growth will focus. It will not be in Louisiana.
This bank just became the powerhouse bank for the Carolinas and Florida and that is where their growth will focus. It will not be in Louisiana.
Posted on 11/4/19 at 10:14 am to MrLSU
quote:
This bank just became the powerhouse bank for the Carolinas and Florida and that is where their growth will focus. It will not be in Louisiana.
I think that’s why Iberia has been so focused on buying up banks in FL
Posted on 11/4/19 at 10:15 am to 777Tiger
quote:
was in the MEM airport a couple of months ago after not having been there in a long time, they have changed almost nothing since the 80s
Nobody is there to see it, why change anything?
Posted on 11/4/19 at 10:24 am to MrLSU
Another failure for John Bell Edwards worst governor in history of Louisiana companies are running from his anti business policies
Posted on 11/4/19 at 10:28 am to MrLSU
I figured this day would come eventually. 2-3 years ago I would have thought the Wagon Wheel would buy them, but that bank has been a little bit preoccupied as of late.
I'm surprised they are merging into a slightly larger bank. I thought if they were going to give up their company, it was going to be to a huge player.
I'm surprised they are merging into a slightly larger bank. I thought if they were going to give up their company, it was going to be to a huge player.
Posted on 11/4/19 at 10:29 am to SSpaniel
quote:
Nobody is there to see it, why change anything?
true, plus if it ain't broke
Posted on 11/4/19 at 10:30 am to SuperSaint
quote:
well it is
Posted on 11/4/19 at 10:36 am to dewster
quote:Why do you think it's a good thing for Iberia's employees?
but it’s a good thing for IberiaBank and their employees
Posted on 11/4/19 at 10:37 am to LSUFanHouston
First Tenn (aka First Horizon) is a major player who burst onto the banking scene as a force when they purchased Capital Bank. I believe the Iberia acquisition now makes this bank one of the top 25 largest banks in the US.
First Tenn though has arguably the worst IT infrastructure of any regional bank in the US. They have really been behind the cuve So buying Iberia's existing IT infrastructure will be a huge plus in this.
The move enables the combined bank to invest in technology and merge back office functions.
"The companies project to save $170 million as a result of the acquisition about 50% of which stem from staffing efficiencies and overhead redundancy but also branches which overlap in some markets.
Iberia Bank had more than 3,100 employees as of Sept. 30 whereas First Horizon has more than 5,500 employees."
The good news is that many of these employees will be absorbed into other banks after this merger which will help grow some of the other banks in our marketplace. The bad news is that we can expect a ton of jobs being lost in Louisiana.
First Tenn though has arguably the worst IT infrastructure of any regional bank in the US. They have really been behind the cuve So buying Iberia's existing IT infrastructure will be a huge plus in this.
The move enables the combined bank to invest in technology and merge back office functions.
"The companies project to save $170 million as a result of the acquisition about 50% of which stem from staffing efficiencies and overhead redundancy but also branches which overlap in some markets.
Iberia Bank had more than 3,100 employees as of Sept. 30 whereas First Horizon has more than 5,500 employees."
The good news is that many of these employees will be absorbed into other banks after this merger which will help grow some of the other banks in our marketplace. The bad news is that we can expect a ton of jobs being lost in Louisiana.
Posted on 11/4/19 at 10:37 am to dewster
The regional headquarters will still be based in New Orleans
Posted on 11/4/19 at 10:38 am to 777Tiger
quote:
quote:
What does deregulation have to do with anything?
oh man, you need some schooling, baw
If it's the schooling that produced your colossal ignorance, no fricking thanks.
Tell me how deregulation in any way makes Memphis better than Louisiana.
Posted on 11/4/19 at 10:38 am to tgrbaitn08
quote:
regional headquarters
Posted on 11/4/19 at 10:42 am to MrLSU
Our state's surplus and medicaid for all will surely make up for this. yall chill breh. JBE gots this
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