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First Horizon National Gets Fed Approval to Buy IberiaBank; Stock Rises

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First Horizon National Gets Fed Approval to Buy IberiaBank; Stock Rises

First Horizon National (NYSE: FHN), the holding company for First Horizon Bank, got approval from the Federal Reserve Board to acquire IberiaBank (NASDAQ: IBKC).

That was the final regulatory hurdle. When the deal officially closes on July 1, the combined bank will have about $75 billion in assets – including $43 billion from First Horizon Bank and $32 billion from IberiaBank. It will be a top 25 bank with $58 billion in deposits.

Source Fool.com

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