First Horizon National Corp. (NYSE:FHN), parent company of First Tennessee Bank, is increasing the minimum pay level of employees to $15 an hour.
The pay increase reflects the company’s continued investment of tax savings in its people, officials said.
Late in 2017, First Horizon announced $1,000 one-time cash bonuses to 70 percent of employees and a $16.5 million contribution to the First Tennessee Foundation.
“First Horizon’s continued strong results are driven by the individual and collective efforts of all our employees,” said Bryan Jordan, First Horizon’s chairman and CEO. “As a result of the recent tax reform, First Tennessee invested a portion of the tax savings back into our people and our communities to strengthen our business.”
The investment in people and communities follows First Horizon’s merger with Capital Bank, which closed on Nov.
30, 2017. The merger created the fourth largest regional bank in the Southeast with approximately $41 billion in assets, $31 billion in deposits, $28 billion in loans and nearly 350 branches in Tennessee, North Carolina, South Carolina, Florida, Mississippi, Georgia, Texas and Virginia.