First Horizon to acquire Charlotte-based Capital Bank

First Horizon to acquire Charlotte-based Capital Bank

Memphis-based First Horizon National Corp. will acquire Capital Bank Financial Corp. of Charlotte in a $2.2 billion stock-and-cash deal that will create the fourth-largest regional bank in the Southeast. The combined companies will have $40 billion in assets and more than 300 branches in eight states. The transaction is slated to close in the fourth quarter. Capital Bank is the third N.C. bank to be sold in the last week.

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