![]() Those include competition bank prudential requirements the convenience and needs of the community financial stability and anti-money laundering. The OCC held a public comment meeting on the merger in August where those in favor and against the deal could voice their opinion.Īn OCC spokesperson emailed the USA TODAY Network that the OCC does not comment on specific banks or pending decisions.Īs part of the application process, the Fed examines the application and judges it based on several specific factors given to it by the U.S. The Office of the Comptroller and Currency and Federal Reserve Board are among the regulators overseeing TD and First Horizon’s merger process. Unanswered questions remain about what the potential merger would look like and the impact on First Horizon customers and employees once a deal is completed, though for now what looked like a formality remains up in the air.įirst Horizon: What could First Horizon executives get in 'golden parachute' payments in TD Bank merger? Insight into the banking regulatory approval process bank."įirst Horizon declined to comment for this story. “This is a great transaction that offers scale and new capabilities for our U.S. "TD is fully committed to the transaction and we are in discussions with First Horizon about a potential further extension beyond May 27,” TD said in a statement to the USA TODAY Network on March 6 regarding the deal. Securities and Exchange Commission on March 1. The latest delay occurred after TD confirmed to First Horizon the company would not receive the necessary regulatory approvals to close a deal prior to May 27, according to an annual report filed by First Horizon to the U.S. The projected closing date went from TD’s first quarter to Feb. TD planned to close the First Horizon deal in the company’s first quarter between November 2022 to January 2023 after receiving the necessary regulatory approval.īut the past two months have seen a series of delays impact the deal’s timing. ![]() ![]() In the Knoxville area, First Horizon has 25 branches and almost 600 employees. TD and First Horizon do not have an estimated closing date for the first time since the agreement was announced in February 2022. Uncertainty surrounding Toronto-Dominion Bank’s potential $13.4 billion acquisition of Tennessee-based First Horizon continues to increase, though the deal - for now - is not in immediate jeopardy of falling through, according to banking experts and both companies. Watch Video: First Horizon excited for next chapter in Knoxville
0 Comments
Leave a Reply. |