First Horizon and IberiaBank were given regulatory approval by the Fed for their proposed all-stock merger.
“First Horizon and IberiaBank together will be well positioned to navigate a changing financial services landscape, deliver superior client solutions, strengthen the communities we serve and create strong returns for our shareholders.”
Bryan Jordan CEO of First Horizon
IberiaBank shareholders will receive 4.584 shares of First Horizon for every IberiaBank share they own. The combined company will be one of the largest financial services companies in the South and one of the top 25 banks in the US by deposits.