re: IberiaBank to merge into First Horizon moving HQ to Memphis

Email from CEO @12:42 after he got word of this thread.

Dear Valued Client,

I am pleased to share some exciting news about IBERIABANK. Today we announced a merger of equals between IBERIABANK and First Horizon to create a leading regional financial services company in the South. Information about this transaction can be found in the press release and supplemental powerpoint presentation found here.

In the current operating environment where economies of scale matter, we believe this is the right time and First Horizon is the best partner for our next chapter. Together, First Horizon and IBERIABANK will be $75 billion in assets and uniquely positioned to capitalize on market opportunities and increase our client base through greater scale, strategic investment in advanced technologies, expanded lending capacity and product offerings. We chose a partner who values deep relationships and is culturally aligned with our core mission.

First Horizon is a financial services company with $40 billion in assets, approximately 5,500 employees and 300 branches. Our geographic footprint is very complimentary with little overlap.

The new company will be headquartered in Memphis, TN, while maintaining a significant operating presence in all of the markets in which both companies operate today.

Both banks have strong brand and name recognition and solid reputations throughout the South. Selecting the First Horizon name was a thoughtful and collaborative process and both companies agreed that First Horizon was strategically the right fit for the blended brand and similar cultures. While Louisiana has been a wonderful headquarters for many years, First Horizon has a significant client base in Memphis with $11 billion in deposits compared to our $2.6 billion in deposits in Acadiana.

Looking ahead, the transaction is expected to close in the second quarter of 2020, subject to satisfaction of customary closing conditions. Until that time, IBERIABANK and First Horizon will continue to be separate, independent companies. This means we will operate our business as usual.

Our clients remain our top priority and we are committed to providing you with the same high-quality banking services you have come to rely on from IBERIABANK. We will keep you well informed of any changes that may occur. If you have questions, please feel free to visit your nearest IBERIABANK branch location or relationship manager.

Thank you for your continued confidence in us.

Sincerely,
Daryl G. Byrd
President & Chief Executive Officer
IBERIABANK

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Iberia has been great but not having someone reach out to me about this merger at this point is unacceptable

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Employees just found out around 6:00 am. You think you're first on their list?

$4B is nothing for Wells Fargo (a $226B company) who has committed various different fraud schemes over decades. A company who pays $8.9 BILLION in dividends a year to common stock owners alone.

And it wasn't $4B all at once these were various fines and settlements paid over the years.

Memphis is perhaps the worst place in America. It makes NOLA look like a gem. I’d rather live in Jackson.

Yes I should be

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You can judge this shithole from down there all you want and wallow in your ignorance.

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will do

Memphis is one of the worst big cities in the country

GOAT Bass Pro Tho

I feel for the employees for sure.

Politics aside, I'm sure JBE is not loving this news. I know the polls are tight but this might be enough to sway the election.

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If my family didn’t have a ton of land in La I would be gone so fast




So sell it and leave

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Yeah, I mean if one really thinks the state is going nowhere but further into the shitter (something I vacillate on myself), it hardly makes sense to keep holding onto a substantial amount of land here and use that as your sole rationale for staying around.