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IberiaBank Donates $10,000 to Manna House

IberiaBank (www.iberiabank.com) is donating $10,000 to Huntsville’s Manna House. The gift is part of a $500,000 pledge the bank is making to local food banks across the company’s footprint.

To help address this pressing issue, we are pleased to pledge $500,000 to food banks in our communities.

“Manna House has seen a tremendous increase in the number of families needing help with groceries and baby care items during the COVID-19 pandemic.” said Fran Fluhler, Executive Director.  “Many were employed in the hospitality industry or in service-related jobs such as hair salons and barber shops. We also have dental hygienists and medical office support who are temporarily needing help, too.

“We are grateful for a generous community that is willing to help us provide for these families during this time.”

The COVID-19 health care crisis has created hardships for many individuals and families across the country. The loss of jobs, reduction in compensation, and inability to send children to school or daycare have created a growing need to provide access to food in our communities. 

“Everyone’s life has been affected greatly by this pandemic. We all have a responsibility to step up and help our communities where there is a need,” said Eric Sanders, executive vice president and Huntsville Market president.  “I am grateful to the people in our community who make great sacrifices to keep the residents and their families safe and healthy. In addition to making sure the critical nonprofits in our community have the resources they need, IberiaBank and our team members have been working around the clock to make sure our clients’ financial needs are met.

“Together, we will overcome this challenge and be much stronger.”

 

IberiaBank, First Horizon Announce Merger

First Horizon National and IberiaBank today announced an all-stock merger of the two southern banks.

Under the terms of the agreement, which was unanimously approved by the Boards of Directors of both
companies, the combined holding company and bank will operate under the First Horizon name and will
be headquartered in Memphis. Once the transaction is completed, the combined company will be
one of the largest financial services companies headquartered in the South and one of the top 25 banks
in the U.S. in deposits.

The combined organization will have $75 billion in assets, $57 billion in deposits and $55 billion in loans.

Under the terms of the merger agreement, IberiaBank shareholders will receive 4.584 shares of First
Horizon for each IberiaBank share they own. First Horizon shareholders will own 56 percent and
IberiaBank shareholders will own 44 percent of the combined company. Additionally, IberiaBank
shareholders will receive a 43 percent increase in their dividend after consummation of the transaction, based
upon each company’s current dividend per share.

The merger is expected to close in the second quarter of 2020.