As of 30 June this year, TrustAtlantic Financial and its subsidiary, TrustAtlantic Bank has total assets worth $430m, $368m in total deposits and $317m in gross loans.
TrustAtlantic Financial, through TrustAtlantic Bank, provides personal and business banking solutions. It offers checking, savings, lending services, branch banking, Internet banking, and card services.
With the addition of TrustAtlantic Bank and TrustAtlantic Financial, First Horizon’s presence in North Carolina will be expanded to serve the growing Research Triangle region in the state.
The five TrustAtlantic branches in the state will operate as First Tennessee branches, starting from 19 October.
The new branches will expand First Tennessee’s products and services for customers in commercial banking, commercial real estate, private client and wealth management industries.
First Tennessee Mid-Atlantic region president John Fox said: "This combination of complementary businesses will benefit customers by giving them greater access to products, services and talented bankers."
First Horizon CEO Bryan Jordan said: "We have a great team in North Carolina and the rest of our Mid-Atlantic region, and we’ll build on that by welcoming TrustAtlantic employees and customers."
First Horizon employs close to 4,200 people across its 170 bank locations in and around Tennessee and 26 FTN Financial Group offices in the US to provide financial services.
