I am honored to join my friend and Operation HOPE Board Member Bryan Jordan, Chairman & CEO of First Horizon and First Tennessee Bank, as a member of their new Community Development Fund advisory board. The bank’s full announcement text can be found below. We are honored at Operation HOPE to be partnering with the bank to open 15 new HOPE Inside locations throughout their service area and platform.
First Tennessee establishes $50 million Community Development Fund. Community grants increase to $8 million a year.
MEMPHIS – First Tennessee has created a $50 million Community Development Fund that will award up to $3 million annually in grants to community and nonprofit organizations serving low- to moderate-income people and neighborhoods. These are in addition to the $5 million in grants nonprofits traditionally receive from the First Tennessee Foundation each year.
Community Development Fund grants will be distributed each year to nonprofits and community organizations in First Tennessee markets including Chattanooga, Knoxville, Memphis, Nashville and the Tri-Cities in Tennessee; Winston-Salem, N.C.; Charleston, S.C.; and Richmond, Va.
Projects eligible for funding include those that promote financial literacy, support affordable housing for low- to moderate-income residents or provide down-payment assistance to LMI homebuyers.
“Our goal is to provide financial empowerment tools and support to our low- and moderate-income neighbors and neighborhoods so the entire community grows stronger together,” said Bryan Jordan, chairman and CEO of First Tennessee’s parent company, First Horizon National Corp. (NYSE: FHN). “When all segments of our communities are strong, First Tennessee Bank will be more successful.”
First Tennessee has established an advisory board to provide strategic direction for the First Tennessee Community Development Fund. Members are:
• Ruby Bright, Executive Director and CAO, Women’s Foundation for a Greater Memphis
• John Hope Bryant, Founder, Chairman and CEO, Operation HOPE
• Erik Cole, Director, Mayor’s Office of Economic Opportunity and Empowerment, Nashville
• Scott Pierce Ledbetter Jr., CEO, LEDIC Management Group LLC, Memphis
• Alvin Nance, CEO of Development and Property Management, Lawler Wood Housing Partners LLC, Knoxville
In addition, First Tennessee has designated community development managers who will serve specific markets. The managers are:
West Tennessee and Houston, Texas
Dondi Black, (901) 681-2351, DYBlack@FirsTtennessee.com
Lethia Swett Mann, (615) 734-6047, LVMann@FirstTennessee.com
Knoxville and Northeast Tennessee
Joshalyn Hundley, (865) 971-2005, JWHundley@FirstTennessee.com
Angie Murphrey, (336) 703-6829, AMurphrey@FirstTennessee.com
Tracee D. Smith, (423) 757-4020, TDSmith@FirstTennessee.com
More information about Community Development Fund grants is also available from Keith Turbett, CRA manager, at (901) 523-4627 or KDTurbett@FirstTennessee.com.
About First Tennessee
First Tennessee Bank is the largest bank headquartered in Tennessee, with the number one deposit market share in Chattanooga, Knoxville, Memphis and the Tri-Cities and a top-five deposit market share in Nashville. First Tennessee was founded during the Civil War in 1864 and has the 14th oldest national bank charter in the country and one of the highest customer retention rates of any bank in the country. First Tennessee and FTN Financial are part of First Horizon National Corp. (NYSE: FHN), which has 4,300 employees. First Horizon has been recognized as one of the nation’s best employers by Forbes, Working Mother and American Banker magazines. More information is available at www.FirstTennessee.com.
About the First Tennessee Foundation
The First Tennessee Foundation is a Tennessee nonprofit corporation that was formed in 1993 by First Tennessee Bank’s parent company, First Horizon National Corp. (NYSE: FHN). Since its founding the First Tennessee Foundation has granted more than $65 million to strengthen nonprofits in communities the bank serves.
James Dowd (901) 523-4305 JEDowd@FirstTennessee.com
Kim Cherry (901) 523-4380 KCherry@FirstHorizon.com