First Horizon National Corporation Reputation: A Mix of Strengths and Weaknesses
First Horizon National Corporation, a bank holding company with First Horizon Bank as its primary subsidiary, presents a reputation with both positive and negative aspects. Here's a breakdown to assist you in your evaluation:
Strengths:
- Established Presence: Founded in 1889, First Horizon boasts a long history, suggesting stability and experience in the financial industry.
- Strong Regional Focus: The bank excels in serving customers within its southeastern US footprint.
- Expanding Services: First Horizon is actively growing its wealth management and investment services.
- Positive Employee Reviews: Employees generally report a positive work environment at First Horizon (based on https://www.prnewswire.com/news-releases/first-horizon-earns-2024-great-place-to-work-certification-302062384.html).
Areas for Consideration:
- Limited Geographic Reach: First Horizon's services are primarily concentrated in the Southeast, making them inaccessible to a large portion of the US.
- Potentially Higher Fees: Some online reviews mention higher fees compared to national banks, so careful evaluation is recommended.
- Mixed Customer Reviews: Customer satisfaction can vary, with some praising their service and others mentioning frustrations (similar to many large banks).
Is First Horizon Reputable?
Yes, First Horizon National Corporation is a legitimate and established financial institution. However, its suitability depends on your location and banking needs.
Here's when First Horizon might be a good fit:
- You reside in the Southeast US and value a regional bank with a long history.
- You prioritize in-person banking and have access to a First Horizon branch.
- You're interested in exploring wealth management or investment services offered by First Horizon.
Here's when you might consider other banks:
- You live outside the Southeast US and require banking services readily available in your location.
- You prioritize the absolute lowest fees and actively compare rates and fees across institutions.
- You exclusively manage your finances online and rarely need physical branches.
Recommendation:
- Research First Horizon's rates, fees, and account features thoroughly, especially if fees are a major concern.
- Compare their offerings with other banks in your area or national online institutions.
- Consider the importance of factors like branch access, services offered, and customer satisfaction in your decision.
Additional Resources:
- First Horizon Investor Relations: https://www.firsthorizon.com/First-Horizon-Corporation
- First Horizon Bank Reviews:
- WalletHub: https://wallethub.com/profile/first-horizon-bank-13003283i
- DepositAccounts (be cautious of negative bias in some online reviews): https://www.bbb.org/us/tn/memphis/profile/bank/first-horizon-0543-5511/customer-reviews
By carefully assessing your needs and researching alternatives, you can determine if First Horizon National Corporation aligns with your financial goals.
