Fed approves $2.2B bank deal

Regional Banks | Coral Gables, FL | Corporate Acquisition

The US Federal Reserve has approved the proposed acquisition of Capital Bank Financial by First Horizon National, a competing regional bank, in a transaction valued at $2.2 billion. First announced in May, the deal will create a consolidated lender with $40 billion in assets, $32 billion in deposits, $27 billion in loans and more than 300 branches in the US South and Southeast.