First Horizon regional bank reaps benefits of southern population growth, CEO says

SourceCNBC
SectorFinancial Services
CountryJordan

The flow of Americans from the coasts to southern states has been a boon for , CEO Bryan Jordan told CNBC Monday. “We’re seeing an influx of people into the South. It’s been very, very positive, and we will continue to see that,” he said in a ” ” interview with Jim Cramer.

First Horizon is a regional bank based in Memphis, Tennessee with a footprint in a dozen southern states. It had $87.9 billion in assets as of June 30. Jordan said he is seeing significant population changes in states like Florida, Georgia and Tennessee. Middle Tennessee, where First Horizon has a concentration of branches, has seen a high number of relocations there within the past 15 months, he added. “We think that the attractive policies, particularly around right to work, taxation, etcetera, are going to be really, really positive for our 12-state footprint,” Jordan said. The company also has a presence in three of the six states...read more...