Bank / Credit Union

TD Bank acquires First Horizon

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March 4, 2022

TD Bank Group has announced it has acquired First Horizon Corp., headquartered in Memphis, Tennessee, for a cash transaction of $13.4 billion, according to a press release.

"First Horizon is a great bank and a terrific strategic fit for TD. It provides TD with immediate presence and scale in highly attractive adjacent markets in the U.S. with significant opportunity for future growth across the Southeast," Bharat Masrani, group president and CEO, TD, said in the release. "Working with the First Horizon team, TD will build upon the success of its strong franchise and deliver the legendary customer experiences that differentiate us in every market across our footprint."

Bryan Jordan, president and CEO of First Horizon, will join TD as vice chair of the TD Bank Group following the close of the transaction.

"We have built a very strong business at First Horizon, and by joining forces with TD, we will create extraordinary value for our key stakeholders with a shared customer-centric strategy, enhanced scale and a broader product set for our clients. This is a true growth story," Jordan said in the release. "We have long respected TD as a leader in U.S. banking and are confident that its continued and growing investments in our local markets will extend our long history of community support.