MEMPHIS, Tenn., April 3, 2014 (GLOBE NEWSWIRE) -- Houston has become the latest commercial banking region for First Tennessee Bank, which is growing in selected markets in addition to its home state of Tennessee. Long-time Houston banker Gary Olander will be the Houston market president for First Tennessee, a subsidiary of First Horizon National Corp. (NYSE:FHN). Olander has served as Texas regional president for Whitney Bank and most recently Houston CEO of Sovereign Bank. Olander, who joined First Tennessee on March 25, is building a team of top Houston bankers for First Tennessee.
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First Tennessee will offer a full range of banking products for businesses, including corporate lending, treasury management, deposit services, commercial real estate, asset-based lending and private client services, with bankers specializing in medical and energy.
First Tennessee bankers have built strong relationships with several large Houston businesses. "They kept telling us that Houston could use a bank like First Tennessee, where we focus on building long-term relationships with our customers by offering the service of a community bank and the products of a large bank," said David Popwell, First Horizon's banking president. "When Gary Olander decided to join us, we knew the time was right to build our banking team in the thriving Houston area."
Olander, 61, earned a bachelor's degree in finance from the University of Texas, and he has spent 40 years as a banker in Houston. He has served on the boards of Rebuilding Together – Houston, Trees of Houston, the Holocaust Museum of Houston, Memorial Drive Presbyterian Church and New Spring, a nonprofit fostering economic development and stability in the largely Hispanic Spring Branch community of Houston. He is an active member of Chapelwood United Methodist Church.
"There are a number of banks that are looking to establish a Texas presence and participate in our growing, dynamic economy," said Olander. "I like the First Tennessee model of hiring experienced local bankers rather than buying banks – it's a formula that will work."
First Tennessee, which was chartered in 1864 and just celebrated its 150th anniversary, is the 14th oldest national bank in the country. First Tennessee has one of the highest customer retention rates of any bank in the country, with the number one market share in Tennessee and relationships with one in four households in that state. First Tennessee ranked in the top decile of 750 banks in the Greenwich and Associates Excellence in Banking survey, and InformationWeek has named First Horizon one of the country's top tech innovators for a decade. First Horizon has earned recognition as one of the nation's best employers for almost 20 years.
Houston becomes the fifth bank region for First Tennessee, joining three regions in Tennessee – West, Middle and East – and the Mid-Atlantic region, which includes North Carolina, South Carolina, Virginia and North Florida. "Houston is one of the most exciting, diverse communities in the country, and the Texas economy is expanding more than twice as fast as the national rate," said Bryan Jordan, First Horizon's chairman and CEO. "Businesses in Texas are benefitting from income and employment rates that are growing faster than the nation's as a whole, and manufacturers are increasingly taking advantage of Houston's location to more efficiently distribute their goods. We see this as a great time to introduce First Tennessee Bank to the business leaders of Houston."
About First Tennessee
First Tennessee has one of the highest customer retention rates of any bank in the country and the number one market share in Tennessee. First Tennessee ranked in the top 6 percent of 750 banks in the most recent Greenwich and Associates Excellence in Banking survey. First Tennessee and FTN Financial are subsidiaries of First Horizon National Corp. (NYSE:FHN). The company's 4,300 employees provide financial services through more than 170 First Tennessee Bank locations in and around Tennessee and in 21 FTN Financial offices in the U.S. and abroad. FTN Financial is a capital markets industry leader in fixed income sales, trading and strategies for institutional clients in the U.S. and abroad. First Horizon has been recognized as one of the nation's best employers by American Banker and Working Mother and a top tech innovator by InformationWeek. More information is available at www.FirstTennessee.com.
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CONTACT: Gary Olander (713)305-8944 Jack Bradley (901)523-4380
Source:First Horizon National Corporation