Regions adds financial services industry vet as senior VP

Former FirstBank official to focus on high-net-worth clients
Apr 4, 2014 10:44 AM

First Tennessee building in Houston

First Tennessee Bank is getting serious about building a commercial presence in Houston, the nation's fifth-largest metro area. The bank has recruited former Whitney Bank and Sovereign Bank regional executive Gary Olander to lead its efforts and build a team there. Houston becomes the fifth bank region for First Tennessee, joining three in in Tennessee and the Mid-Atlantic.

"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."

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."         - See more at: http://globenewswire.com/news-release/2014/04/03/624299/10075371/en/Photo-Release-Houston-Banker-Gary-Olander-to-Lead-New-Market-for-150-Year-Old-First-Tennessee-Bank.html#sthash.tVh565aF.dpuf
regional president for Whitney Bank and most recently Houston CEO of Sovereign Bank - See more at: http://globenewswire.com/news-release/2014/04/03/624299/10075371/en/Photo-Release-Houston-Banker-Gary-Olander-to-Lead-New-Market-for-150-Year-Old-First-Tennessee-Bank.html#sthash.tVh565aF.dpuf
regional president for Whitney Bank and most recently Houston CEO of Sovereign Bank - See more at: http://globenewswire.com/news-release/2014/04/03/624299/10075371/en/Photo-Release-Houston-Banker-Gary-Olander-to-Lead-New-Market-for-150-Year-Old-First-Tennessee-Bank.html#sthash.tVh565aF.dpuf
Apr 4, 2014 8:51 AM

Comdata takes first step toward IPO

Scope of offering by 1,200-person payments venture still undecided
Apr 3, 2014 6:27 AM

Avondale names new head of investment banking

Former health care investment leader taking over full division
Apr 2, 2014 10:37 AM

Pinnacle, HCA, CHS get new buy ratings

Shares of Pinnacle Financial Partners got a nice endorsement Tuesday from SunTrust Robinson Humphrey. The firm initiated coverage of the largest Nashville-based bank with a 'buy' rating and a Street-high $42 price target — and this is after Pinnacle (Ticker: PNFP) had climbed this year from about $32.50 to $37.50.

 

New York boutique firm Monness Crespi & Hardt this week launched coverage of the hospital sector with a mix of 'neutral' and 'buy' ratings. In the former basket are local player LifePoint Hospitals as well as Tenet Healthcare and Universal Health Services, the (somewhat) recent buyers of Vanguard Health Systems and Psychiatric Solutions, respectively. Blessed with 'buy' ratings are the industry's top two, HCA Holdings and Community Health Systems. The Monness Crespi & Hardt analysts see HCA (Ticker: HCA) climbing to $63 from about $52 and CHS (Ticker: CYH) moving to $51 from its current levels around $39.

Apr 2, 2014 6:57 AM

Riebeling: City's credit rating is fine

Despite the downgrade by Moody's, Metro Finance Director Rich Riebeling says all is well:

"I would point out that Nashville's bond rating is now exactly where it stood when Mayor Dean took office in 2007 as the rating was upgraded in April 2010 when Moody's undertook a ratings methodology analysis," he says. "I would strongly suggest that Nashville is in the same, if not better, financial condition today than it was in 2010 when the ratings upgrade occurred."

Apr 1, 2014 2:45 PM

Kraft Enterprise Systems adds owner

Four-year employee most recently served as consultant
Apr 1, 2014 11:10 AM

Region's foreclosure rate back to '08 levels

Housing research firm CoreLogic says the foreclosure rate in the Nashville area dipped to 0.69 percent in January from 0.77 percent at the end of 2013.

It's the first time foreclosures have been that low since the last days of 2008, when the recession was really beginning to sink its teeth into homeowners' finances. The rate peaked at 1.99 percent in January 2011 and stood at 1.14 percent at the beginning of 2013.

CoreLogic says the 90-day delinquency rate among local homeowners, which peaked in early 2010 at about 6 percent, retreated to 3.52 percent in January, versus 3.60 percent in December and 4.49 percent the year before. The Nashville rate is now 109 basis points lower than Tennessee's and 141 points below that of the national average.

Mar 31, 2014 12:12 PM

FirstBank makes move into Alabama

Community lender recruits Regions, BBVA alum to build on existing mortgage business
Mar 25, 2014 2:30 PM

Diversified Trust promotes five in Nashville office

Frisbee named principal at wealth management firm
Mar 25, 2014 11:51 AM