First Horizon Bank, with numerous locations around New Orleans and Louisiana, has been acquired by TD Bank Group, the New Jersey-based American operation of the Toronto-Dominion Bank of Toronto, Canada.
Headquartered in Memphis, First Horizon will be purchased in a cash transaction amounting to $13.4 billion dollars.
Published reports say the acquisition will allow TD the opportunity to expand into the Southeast United States.
Bryan Jordan, First Horizon President and CEO will join the TD board of directors as vice chairman following the purchase.
The move to sell to TD Bank comes less than three years after First Horizon acquired IberiaBank of Lafayette in November, 2019.
