Formerly known as First Tennessee Bank, First Horizon (NYSE: FHN) is a full service community bank headquartered in Memphis, Tennessee. Although First Horizon operates in other states, it is headquartered in the state of Tennessee, where it operates 180 branches. The bank, which often calls its branches “financial centers” rather than banks, offers consumers CDs, savings accounts, home mortgage loans, auto loans, and more.
First Horizon's history dates all the way back to 1864, when the Fist National Bank of Memphis was founded. Though the bank grew steadily over its first 100 years, it experienced enormous growth during the 13 years that Allen B. Morgan served as president, then CEO, then chairman. By the time he retired, First Horizon had grown from $500 billion in assets to more than $1.5 billion.
First Horizon is one of the largest mortgage lenders in the state of Tennessee. The bank offers some mortgage loan products in house, while others are outsourced to Quicken Loans, one of the bank's partners.
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