First Horizon announces pay increase
Source: Nasdaq GlobeNewswire / 15 Feb 2018 06:30:09 America/New_York
MEMPHIS, Tenn., Feb. 15, 2018 (GLOBE NEWSWIRE) -- First Horizon National Corp. (NYSE:FHN), which has been honored as one of the nation’s best employers, is increasing the minimum pay level of employees to $15 an hour. The pay increase reflects the company’s continued investment of tax savings in its people.
Late in 2017, First Horizon announced $1,000 one-time cash bonuses to 70 percent of employees and a $16.5 million contribution to the First Tennessee Foundation.
“First Horizon’s continued strong results are driven by the individual and collective efforts of all our employees,” said Bryan Jordan, First Horizon’s chairman and CEO. “As a result of the recent tax reform, First Tennessee invested a portion of the tax savings back into our people and our communities to strengthen our business.”
The investment in people and communities follows First Horizon’s merger with Capital Bank, which closed on Nov. 30, 2017. The merger created the fourth largest regional bank in the Southeast with approximately $41 billion in assets, $31 billion in deposits, $28 billion in loans and nearly 350 branches in Tennessee, North Carolina, South Carolina, Florida, Mississippi, Georgia, Texas and Virginia.
About First Horizon
First Horizon National Corp. (NYSE:FHN) provides financial services through its First Tennessee, Capital Bank, FTB Advisors, and FTN Financial businesses. First Horizon operates 350 bank locations across the southern U.S. and 28 FTN Financial offices across the U.S. Our banking subsidiary was founded in 1864 and has the 14th oldest national bank charter in the country. Our First Tennessee and Capital Bank brands have the largest deposit market share in Tennessee and one of the highest customer retention rates of any bank in the country. We have been ranked by American Banker as No. 5 among the Top 10 Most Reputable U.S. Banks. Our FTB Advisors wealth management group has more than 300 financial advisors and about $30 billion in assets under administration. FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional customers in the U.S. and abroad. We have been recognized as one of the nation’s best employers by Working Mother and American Banker magazines and the National Association for Female Executives. More information is available at www.FirstHorizon.com.
CONTACT: First Horizon
Investor Relations, Aarti Bowman, (901) 523-4017
Media Relations, James Dowd, (901) 523-4305