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Opinion | Losing First Horizon to Canada stings | Richard Ransom

Richard Ransom said thousands of Memphis-based First Horizon employees and dozens of nonprofits can't help but be a bit worried Monday night.

MEMPHIS, Tenn. — Thousands of Memphis-based First Horizon employees and dozens of nonprofit organizations can't help but be a little worried Monday night. 

Losing First Horizon to Canada stings. First, it was C&I Bank, then Regions Bank took over Union Planters, then SunTrust Bank took over NBC Bank. 

But First Tennessee, which became First Horizon, was supposed to be different.

Just how big is First Horizon? It has $34 billion in deposits and 5,576 employees, according to the latest ranking. The next closest Memphis-based bank, Independent Bank, has $892 million in deposits and 214 employees.

The initial line is encouraging. 

TD is giving $40 million to the First Horizon Foundation and CEO Bryan Jordon told The Commercial Appeal that TD is committed to keeping Memphis as a regional hub. Mayor Strickland sounded optimistic as well.

Holiday Inn said it wasn't going anywhere when it was solid. Similar promises were made by Delta Air Lines and Promus/Hilton. 

Don't be surprised if three to five years from now, the high-rise building bearing the First Horizon name finds itself looking for a new tenant. 

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