Wednesday, April 8, 2020

Buying First Horizon National (FHN)

After investing in two large US banks - Wells Fargo and Bank of America, I'm rounding of my position with a smaller, local bank. 
This is a very small cap - $3B
First Horizon stands out because of a recent deal where they bought 30 branches from SunTrust bank as part of the merger between SunTrust and BB&T, where SunTrust had to give up these branches and First Horizon bought them for next to nothing.
The bank is perusing an aggressive growth strategy.


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