Posted by William Charles on November 4, 2019
Misc

Published on November 4th, 2019 | by William Charles

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First Horizon (Formerly Capital Bank & First Tennessee) To Merge With IBERIABANK

Today it was announced First Horizon (formerly Capital Bank & First Tennessee) will merge with IBERIABANK in an all stock merger of equals. The combined bank will operate under the First Horizon name. This is actually bad news for readers of this site as both First Horizon and IBERIABANK frequently offer bank account bonuses and this means you’ll be limited to doing one of these bonuses instead of previously being able to do both (depending on where you’re located).



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SamL
SamL

Perhaps this is why they had recent promotions, to gain customers and increase their value in the deal.

Also, probably not many people could do deals at both banks, unless they were in an overlapping region.

The question now is, if a future bonus excludes former customers, will that include being a customer at a previous version of the bank.

AL_PF
AL_PF

IberiaBank’s offerings were all pretty meh, at least to me, and it looks like First Horizon’s are as well. Maybe they were ok for mortgages and stuff like that that hasn’t been relevant to me. I know that IberiaBank had apparently been focused on business clients as recently as a few years ago, at least according to a job interview I had with them at the time, so I guess I wasn’t their target customer.

I’ll keep an eye on this and see if anything interesting comes of it, but I doubt it. I’m much more optimistic about the BB&T/SunTrust merger leading to some products that are at least semi-interesting being offered.

Kay
Kay

Well, it will knock me out of BBT, which I just got my bonus for. They were the slowest of ALL of them. I will be doing Suntrust next bc they require all of my DD.
This may help w/Iberia, however. I could not get Iberia bc I was out of their “footprint” in TN. They serve mostly West TN and I’m in MidTN. We’ll see how it goes.

Stan
Stan

I joined this when my local iteration was called Capital Bank, which had very recently been changed from First Tennessee, which is now First Horizon… now this… all within a few short months. They gave a decent bank bonus but so far I haven’t seen anything from them as far as a decent credit card. Hopefully this changes soon.

Neil Degrasse
Neil Degrasse

Eventually all banks will merge, and there will only be one.

Gadget 🕵️

I know these banks try to play it off like this is in the customers best interest, but it’s not really. PNC, US Bank, or TD Bank will probably be next. Keybank and M&T. Merger of equals, which stops out competition.

El Cheapo
El Cheapo

I’m glad I moved away from this bank before their latest rebranding.

kcihtred2
kcihtred2

this is most likely in response to Suntrust and BBT. I know First TN and Suntrust are very competitive in TN.

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