MEMPHIS, Tenn., April 03, 2017 (GLOBE NEWSWIRE) -- FTN Financial, a division of First Tennessee Bank, has completed the acquisition of Coastal Securities, a national leader in the trading, securitization and analysis of Small Business Administration (SBA) loans. Coastal also trades United States Department of Agriculture (USDA) loans and fixed income products and provides municipal underwriting and advisory services to its clients.
Michael E. Kisber, president of FTN Financial, said, “We are proud to have the Coastal Securities team join FTN Financial. The experience this group brings to our firm will allow us to serve our customers with greater depth of product, coupled with the exceptional service that is a hallmark of FTN Financial.”
Combined with FTN Financial’s existing SBA trading activities, this acquisition establishes an additional major product sector for FTN Financial, resulting in increased revenue and product diversification.
About FTN Financial
FTN Financial (comprised of FTN Financial Capital Markets and FTN Financial Securities Corp) is a member of the First Horizon National Corp. (NYSE:FHN) family of companies. FTN Financial is an industry leader in fixed income sales, trading and strategies for institutional customers in the US and abroad and provides investment services and balance sheet management solutions. With an average daily trading volume of $5+ billion, FTN Financial transacts business with more than 5,000 institutional customers and approximately 50 percent of all US banks with portfolios of more than $100 million.1 More information is available at www.FTNFinancial.com.
1 For 24-month period ending 4Q16.
Source:First Horizon National Corporation