IBERIABANK has announced a merger with Tennessee-based First Horizon National Corporation in the second-biggest bank deal of 2019.
The deal is estimated to be valued at $3.9 billion and is expected to close in the second quarter. The combined company will operate under the First Horizon name will be headquartered in Memphis, Tennessee with the regional banking headquarters in New Orleans, Louisiana. First Horizon shareholders will own 56% of the company. The merged institution will have $75 billion in assets, $57 billion in deposits and $55 billion in loans across 11 states.